HARDWOOD RECORD 



dal.v arraigned, i ^mw flncil aftor a |>r<>ti>xt 



of a trial. Juiit a- r.'\ ":i- Liaiui;; whethor to pay liin flue or 

 start a ruu;;h hoti8«. u t:rou|> of Itiiiilifrincn burnt out of nii ml 

 joiniUK rooni and with thoir n|>|ionrnnci> tlio juilicial ili'forum of 

 the rourt vaniiihi><l. SuiMonly tho li|,'lit ilawiinl on Vox ami 

 lie rcalizoti that one ha<l ln'on |iut over, lie lauKhed a.x hrartily 

 as the next one ami treated the court to the extent of the fine. 



However, the net waM only half over, whioh ix to xay that it 

 had been put over on Fox but Fox himself hailn 't ]>ut it over. 



The delejinte.i hail boarded a steamer for a ride on (ireen Hay 

 and a few nioment.i before the boat was ready to start a mesHeuKer 

 dashed down to the dork and on the boat with tele;;ram8 for the 

 himbernieu. The captain held the boat and each lumberman unsus- 

 pectingly paid whatever the boy asked. They were all rolled 

 meMaces. X few follow: 

 .\. C. Well.: 



I» thcr." iiuy truth tlint J. M. Tl.i 

 n'iiidJainmiT<i must sliiy toi;cilicr. 

 VVnltiT .Mnnslteld : 



Will pay you »50.000 for two mon 

 arc. Your high note nwds tlllnL-. 

 A. C. Wells: 



Uunbar burni-d last nl^-lit. Sli.-ill I 



SI«niMl, Tom I/Ovell. 



II. J. liiiiHlmnii, Knlcrlaloer : 



I'uiae back to Kunylb. Your talent will not Im> ■ppredalMl at Mfnuml 

 liuubar IiumuhI Inst ulsbt. Shall I r<-liiillil°r Hlcni-il, T»>i I.iivki t 



Sliinid. J. K. V. 8TAIK 

 J .M. TbnmiiNun : 



Ytiiir letter UKkInu for poslUon whin 1 Imtoiiii' ni'XI rr<-sliti<ni rficlTert. 

 Will iniiki' you bnrbor niimlcr. HIkuiiI, Tiikuimiiii: Kiminkvki.t. 



The lumbermen who had rei'i-ived messn^es looked first from 

 one to the other, nut knowing; whether to lauch nr swear. Over 

 against the rail of the boat leaneil Fox. Deep wrinkles lined his 

 forehead and he was evidently perplexeil. 



"Here's a funny one, boys," he saiil ami llifii read his mes 

 sage as follows: 

 M. J. Fox : 



Vour wire received. Sorry tliiit Mi-nuuilniM' tllMcrluilnales iiKiilnst runt 

 Kurd rnrs. Will spend n mllltnn dollnrs putting Menominee and Marlnrtli' 

 business men where tbcy lieloni; bnrk of the b.ir sclllnE licer. 



SlKni'il. IlKNRr I'oKb. 



Then while the boat was far out on the bay and the messenger 

 boy was seeing the town, Fox figured up the total collect charges, 

 compared it with the police court line and announced to the dele 

 gates that he had made money. 



^<,:^^ ' jc-\ 



■:ol^:/■;uk!.:^y■^! ^c,^y.v;l!^i,^>:^M^ ^ ^^v.^i,.\i^^:,!;y.;!>.V/.^^u>A^.v^A 



-^ Concrete Analysis of Business -^J- 



Editor's Note 



The followlni; Is a letter sent by J. E. Kbodes, secretary of the NutionnI Lumber ManufacturorK" .Vssoclutlon to 

 the secretary of the Northern Hemlock and Hardwood .Manufacturers' .\Hsoclailon In Its semi-annual meeting ut 

 .Menominee. .Mich., last week. It so sensibly sets forth present conditions and business prospects that It Is here- 

 with reproduced In full. 



A careful and unprejudiced review of present conditions and 

 ■ iiscernible prospects fails to disclose any phases of general man- 

 ufacture and trade that should give warrant to uneasiness. While 

 the fiscal year that closed .June 30 was largely unsatisfactory from 

 .-1 commercial viewpoint — a business status of which all are famil- 

 iarly and some painfully informed — the new fiscal year began 

 with a decidedly brightened tone, and with an outlook that is 

 emphasized in the lumber trade by recent reports from most prom- 

 inent centers of manufacture and consumption and, in regard to 

 consumption, from most of the comparatively unimportant districts. 

 This view is straightened by accepted advices concerning the 

 agricultural, the steel and iron and the financial interests. 



.•\. matter of common knowledge is the extraordinary outturn 

 of the cereal crops. The harvests of this year promise an in- 

 definitely prolonged prosperity for the farming class and an active 

 demand and unloosening of hoarded and prospective cash re- 

 sources that must favorably affect all branches of business. Es- 

 timate of the scope of this activity within approximate bounds is 

 of course impossible at this time, the more conservative will fall 

 short in speculations over its effects. 



During the current week a roseate hue was imparted to the pros- 

 pects from grain exports. Authoritative advices show a decrease in 

 ■wheat production of 75 per cent from the crops of last year in 

 Great Britain, Spain, Italy, India, European Russia, Switzerland, 

 Japan, and other wheat importing countries. These countries, ex- 

 cepting India, report 7.6 per cent recession in oats, 1.9 per cent 

 loss in rye, and Russia's harvest decreased in nearly all the prin- 

 cipal cereals in percentages ranging from 2.4 for rye to 28 for 

 wheat. Tho outlook for heavy export demand, presumably at 

 oorrespondingly enhanced prices, is excellent. Successful har- 

 vests are assured for practically all sections of this country. 

 Some concern that was felt for northern crops was largely dis- 

 sipated by heavy rains in that section late this week. Crops 

 elsewhere are "made" or practically so. The country's wheat 

 and barley crops are the largest on record. The fruit crop is 

 estimated at above the average for five years. 



Manufacture is quiet, but the agricultural outlook promises 

 a remedv for that condition in the not distant future and for 



continuing months. In steel and iron, Pittsburgh announces a 

 notable improvement this month over the conditions in .luiie, 

 with added encouragement of increase in operation estimateil at 

 as high as G5 per cent over the customary .(uly lessening. Rail- 

 road demand, abnormally quiet and almost moribund for a year, 

 shows unmistakable signs of awakening. The Interstate Com- 

 merce Commission's decision on the carriers request for a 5- 

 per cent rate increase is momentarily expected, and whatever 

 its nature, it will replace obstructive uncertainty with progressive 

 certainty and may reasonably be expected to arouse to activity 

 much business that has been held in abeyance. Already this is 

 shown, notably in the South, in some orders and many inquiries. 

 Hope of substantial improvement, very evidently not unfounded, 

 is based upon the possibly not distant restoration of peace in 

 Mexico and the releasing of a big accumulation of long restrained 

 orders and the restoring to a normal status of trade with the 

 southern republic. 



Speculation on the influences of shipping through the Panama 

 canal, a route to become a regular channel of commerce in the 

 comparatively near future, is of course useless as determinative 

 of anything resembling exactness, but a conservative view of 

 that influence may safely be assumed to be well in the direction 

 of the prosperity of the lumber trade, generally, and one may be 

 pardoned for assuming for American interests not unwelcome pos- 

 sibilities in the European war cloud. 



Statistics of exports of lumber for May 1913, as compared with 

 those of that month in the present year, are not of favorable 

 tenor, but these should not be regarded as representative of 

 like comparisons for the remainder of the current year. The 

 assumption is naturally that the pendulum must soon swing the 

 other way, and with some vigor. 



Buying by retail lumbermen for several months has been gen- 

 erally for immediate needs only, but within the last few weeks, 

 a notable increase in inquiries has been reported at practically 

 all important lumber producing points. The prospect for a heavy, 

 definite demand to follow later in the year and to continue to the 

 holiday season if not beyond is regarded as excellent. The build- 

 ing record as a whole for approximately the last three months 



