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Published in the Inleresl of the American Hardwood Forests, the Products thereof, and Logging. Saw 

 Mill and Wood- Working Machinery, on the 10th and 25lh of each Month, by 



THE HARDWOOD COMPANY 



Edgar H. Defebaugh. F^res.denl 

 Edwin W. Meeker. Managing Edil 

 Hu Maxwell. Technical Editor 



Entire Seventh Fli 

 537 So. Dearborl 

 Telephones: Har 



x Ellsworth Building 

 Street, CHICAGO 



yOTAIV 



QARt 



Vol. XXXVIII 



CHICAGO. APRIL 25, 191^ 



No. 1 



KgamMTOw ;»MJim ai^JitiTOiii>iTOmiroim;^^ 



Review and Outlook 



General Market Conditions 



VIEWING BUSINKSS CONDITIONS as iiimh as 

 unit and looking at things from a [irospwtive viewpoint, there 

 secnis no other conclusion than that the long promised active open- 

 ing up of demand in all lines will be deferred until after the usual 

 summer dullness. Resumption of normal conditions has been promised 

 for so long that failure of this promise to materialize seems to have 

 become more or less of a habit. At this late stage it is hardly pos- 

 sible to hope for a general resumption of trade activities on a normal 

 basis until such time as present conditions have worn themselves 

 out and the dull summer months have been spent. At least there 

 seems no immediate prospect of conditions being righted, or righting 

 themselves during the remaining months of spring. 



It is true that there seems a fair prospect of the railroads secur- 

 ing the requested five per cent general increase in freight rates, but 

 even with the railroads in the market again it is doubtful if their 

 requirements would offset the laxity in trade in other lines. Of course, 

 this resumption of buying would have a stimulating effect on the lum- 

 ber business, and would probably bring the trade generally a sufficient 

 volume of business so that lumbermen would feel secure for the re- 

 mainder of the year. But as it stands at present other influences 

 are having their effect and consumers in other lines are continuing 

 to buy simply to meet their immediate requirements, and are not hold- 

 ing out any prospect of changing their policy during the next few 

 months at least. 



It is difficult to say just what efl'ect the upset conditions in Mexico 

 will have on the trade in general, but it is, of course, safe to predict 

 that there will be some derogatory results felt. If this turbulent con- 

 dition were presented during times of normal business, the effect 

 would not be particularly noticeable, but iu connection with other 

 disturbing factors it will probably have more or less of an unsatis- 

 factory influence on trade. 



One effect that will very likely be immediately felt is a retarding 

 influence which the war agitation in Washington will have on other 

 legislative problems, which will necessarily be held up during this 

 acute stage at least. It really seems that business is simply waiting 

 to see the general outcome of the proposed legislation at Washing- 

 ton and naturally any postponement of definite legislative enactments 

 will have a tendency of further holding things up. 



The condition of trade continues to be decidedly spotty, with some 

 concerns reporting continuance of good business and more or less 

 resumption of trade during the last week or two, whOe with other 

 ■concerns the report is just contrary. This favorable report seems 

 to come as a general thing from smaller concerns who are not forced 

 to maintain a steady large volume of trade in order to carry overhead 



expenses, while some of the larger manufacturers are the more con- 

 sistent complainers and it cannot be said that their complaints are 

 the result of laxity of effort, as for the most part they are redoubling 

 their efforts in order to secure their quota of existing orders. How- 

 ever, expenses of securing business are rapidly mounting with the 

 decreasing size and consequent necessity of more closely covering the 

 territory. The result is an increased necessity for turning stocks and 

 Hardwood Record is extremely sorry to note a tendency to shade 

 prices in order to secure cash to meet expenses. While shading has 

 been more apparent in the eastern territory than it has in the Middle 

 West, and while it can nowhere be said to have even approached the 

 state of actual price cutting, still there is considerable of this kind 

 of business being transacted. 



Oak, as usual, commands the king position, and as a general thing 

 northern hardwoods seem to be in stronger shape than do southern 

 products, not including oak. For the most part the low grades are 

 commanding the better demand throughout the country because of the 

 continued activity of the box manufacturers. In gum particularly 

 this distinction is noted as the upper grades are still slack, although 

 there has been considerable demand in the low grades in both sap and 

 red gum. Maple flooring manufacturers are doing a fair business 

 and as a result maple is in pretty good shape. As to the other woods, 

 nothing of a particularly encouraging nature can be said, except that 

 they are continuing along at about the same basis of demand and 

 price. 



The export trade seems to have been stimulated somewhat by the 

 more favorable condition of freight rates which has been gradually 

 coming into effect ; but the foreign market is still pretty well stocked 

 up and no marked development can be looked for in this quarter. 

 There have, however, been some decidedly favorable shipments made 

 within the last few weeks. 



Generally speaking, there is very little change in the general busi- 

 ness outlook and it would seem that this present poUcy of continuing 

 after trade strongly is about the only policy to pursue, as orders are 

 small and given as actual needs assert themselves. 



The Cover Picture 



THE GALAX GATHERERS are returning from the woods. The 

 photograph depicts a scene in the mountains of North Carolina, 

 Yancey county, in the Mt. Mitchell area. The industry of gather- 

 ing galax is of considerable local importance in that region, and 

 a rather large number of people are engaged in it. 



Galax is a forest-grown plant valuable for the leaf it bears. It 

 has been widely planted as borders and plots in yards and gardens; 

 but the leaves which grow in the open have not the market value 

 of those which develop in the cool shade and damp air of high 



