HARDWOOD RECORD 



W A NT E D 



All Kinds of High-Grade 



HARDWOODS 



S. E. SLAYMAKER & CO. 



KrprnentlDc Fifth Avenue Buildinc 



WEST VIBGINIA 81-Kl CE MMBER CO.. WPU/Vr^DkT 



C»»i. Writ VlrelnlB. NtW YOKK 



Over 



One Million Dollars 



in ?avings has been returned its members by the 



Manufacturing 

 Lumbermen's Underwriters 



and there remains to the credit of inembers over 



Nine Hundred Thousand 

 Dollars 



The membership, which is constantly increasing, 

 is now composed of nearly four hundred and fifty of 

 the best saw mill plants in the country. Insurance in 

 force exceeds thirty-five million and nearly three 

 million dollars has been paid in losses. If you have 

 a first-class plant adequately protected and are inter- 

 ested in low cost fire insurance, correct policy forrns, 

 an inspection service which may save you from a dis- 

 astrous fire, with the certainty of a prompt and 

 equitable adjustment in case loss does occur, aiid 

 wish a list of members and annual statement we will 

 be glad to hear from you. 



Rankin-Benedict Underwriting Co. 



HARRY B. ci-AKK Attorney in Fact 



""■"'ITrifaXorr"" KANSAS CITY, MO. 



wood. I.'iiiilii'riiioii lire boiwful. Iiowevor, tbat tUc plToct of the w«r oa 

 l.iiHliieiui In general will be only l.'niporaiy In nature and that the altualloa 

 will eventually work out In favor of tlie Indumrlen In Ibia country. 



Not taking the Inlluvncc of tlie ICuropenn war Into roniilderatton, tb* 

 linrdwood trade aecma to b« nl.out holding It* own. Tbe ImproTenient 

 I xperlencod during the pnat two weeka wan perlinpa not (o great aa 

 lumli.Tnien bnd bopod for, but ibey arc conddenl tbnt a Koo<l fall liu<l- 

 11088 will 111' eipcrl.'nci'd. Wh.il"BnlerH are receiving plenty of Inqulrln 

 iiud Ibere 1« every Indication Hint better order* will be placed from now 

 on. The fall revival In the Milwaukee lumber trad.' UHually atarta nbuul 

 tbe latter port of Auguat and It la not believed that tbe preaent waauo 

 will wltnoHH IIP exception to tbe rule. 



While tbe factory trade la Htlll buying rather carefully and Inclined to 

 pliice orilera only to mc«-t Ita pnsent wants, alocka are ho light In tbt 

 bands of moat of theac concrns tbnt It will be necKHnry for tbem to 

 place larger orders, Just as soon aa the fall revival tnkea place. I>ealera 

 .'ibout the stnle do not seem to 1»: stocked up to any extent and wb.ile- 

 -nlers arc hopeful t<jr a belter liiiKlness from this source. It la antld- 

 l>atod tbnl fnrniers will go nin-nd wUh much delayed building, JuhI aa 

 Mii/n OS they are through with their threshing work, which will be about 

 I he end of August. There seems to be considerable building going on In 

 ilie sinniler dlles iind towns ni.'ut '.Vlsconsln. 



BiilldlnK operations In Milwaukee have been showing a slight fnlllnf 

 "(T duiin« tbe r'"-! f'-'O or three wei>kB, ns compared with a year ago. but 

 I here me so inuuy large bulliling projects stnrted or planned that there la 

 jilenty of business nbead In this line. Seventy-two permits were Issued 

 during the past week for structures to coat $10S.n8'4, as compared with 

 eighty permits and an Investment of $29T,S8T during tbe corresponding 

 period In 1013. 



Hardwood stocks are far from being large and the market la In such ■ 

 healthy condition that no movement to cut prices Is anticipated. Maple 

 and birch are holding cspceliillv siioiii:. 



=■< DETROIT >- 



Indications arc that the Detroit hardwood market will not feul the 

 effects of the European war as severely as will other hardwood centert. 

 Detroit dealers are optimistic onu expect the hardwood situalion will not 

 long feci the demoralizing Influence of the war. However, they are u 

 conservative as they arc optimistic and there Is a marked tendency to 

 keep stocks low. Manufacturers are buying on a hand-to-mouth basis and 

 dealers arc generally following the same plan. 



Tlic export problem Is due to react on the Detroit hardwood trade, 

 ns It affects the automobile Industry. The export trade of the light 

 motor car companies has been stopped and they are heavy users of hard- 

 wood. They have not yet curtailed their outputs as a direct result of 

 the war and it is hoped that trndc can be developed In countries hereto- 

 fore supplied by the nations now at war. 



There Is a favornble change In the demand for Qnlsh hardwoods, oak 

 and maple particularly, and It Is expected that August will prove to be 

 .1 better month, all told, than was .7uly. Tbe building permits for July 

 in Detroit aggregated more than $.".,000,000, and It Is expected that the 

 effect of the July permits will begin to he felt the last of August. 



Southern hardwoods are reported to be off, some of them badly. Id 

 the Detroit market. Northern ;;radps are not so affected. ITlces vary 

 but little and the demand for northern hardwoods has not appeared to 

 suffer preatly as a result of tbe export suspension. Tbe manufactured 

 maple flooring Industry of Micbl;;an. however, bids fair to suffer ns a 

 result of the export suspension. Several Michigan companies had devel- 

 oped an extensive maple flooring trade abroad, and they are now 

 reported to be curtailing their outputs. 



=-< LIVERPOOL y= 



The t-reat events in Kuiope duriu!: Ibe past week have naturally bad 

 a demoralizing effect on the Liverpool lumber market. Very little business 

 has been done and the fact that banks have been closed has prevented 

 any remunerative business. Doubtless American readers would like some 

 review of the position. First of all sea freights are bound to advance 

 materially. The leading steamers have been taken over by the govern- 

 ment and It was announced at this writing that ten English liners have 

 been taken. As American readers know, this line Is used extensively by 

 lumber shippers. Of course a very large amount of timber will be required 

 in England, particularly ash In connection with warlike stores. The 

 stocks In England are exceedingly heavy and prices ruling have not moved 

 any higher. Under these circumstances shipments without definite orders 

 are not recommended. 



The mahogany position Is dllllcult to calculate. Freights across tbe 

 .Vtlnnllc are bound to go higher and this will be an Important factor In 

 values In the United States. T.argc stocks are now on hand but whether 

 shipments from the African west const will continue to come In Is 

 doubtful. Prices are ruling on the same basis, though fancy woods are 

 not likely to be In much demand here In war time. 



The automobile trade Is very busy and the government has given out 

 large orders, which will Involve a reduction In lumber stocks. The 

 opinion Is given out that stocks are ample, and speculative shipments are 

 not recommended. Brokers, however, will be able to give a better 

 opinion In a week or fortnight. In the menntime, shippers are advised to 

 "sit tight." 



