HARDWOOD RECORD 



...ij i>i 



tile anatirlal 



Revived Inland Navigation 



Our cargo of 350.000 feet of Oak and 

 Gum from our JcfTris. La., mill on its 

 way up the Mississippi River on the 

 new Gas Producing. Self Propelled 

 Steel Barge. 



This cargo was unloaded at St. Louis, Mo., 

 and Alton. III., on August 1st and 2nd 



WE HAVE MORE IN STOCK 



D. K. Jeffris & Co. 



CHICAGO 



HARDWOOr.= 

 rONCOKDIA LAND * TI.MllKU 

 JelTrta, La. 



From Nothing 

 To What 



Not ni.-iny years ago timber was a lia- 

 bility, something that covered the 

 ground and prevented its cultivation. 



Today timber is property of great value. 



Some day in the not distant future it will 

 be worth a great deal more because 

 there will be less of it and more de- 

 mand for it. 



We do not know what timber ultimately 

 will be worth. Some day it will be 

 grown as a crop and our idea is it will 

 be worth cost of production with :i 

 profit added. 



Consult the Timber 

 Land Factors 



James D. Lacey & Co. 



CHICAGO, ILL.. l/~;o .McCorinIck LJldg. 



PORTLAND, ORE.. 1313 Northwestern Bank Bldg. 



SEATTLE. WASH.. 1009 White Building 



ondlllon of Ibr ilurk |>llc nl Ibr liiiiibrr lullln nod Ihr rluaing 



iiiniiy plnnta will Imiirc «lcn<lj- prlcm, nnd Ibr nr»l niUnorr In 



A ill Kinrt 11 at liriMiliiii all nlniiK Ibr Jliii-, In raniu-ijiicnn' of wblrh 



linvi- iKil liik^'i) ndvHntnifi- nl IIk' |)ri-iu<nt rork liotloni flKUm 



iii!>'<l to wrlli- II bluKiT cbiTk IMT l.iKKi fwt of lumlHT tbon iit 



111 lliiii-. Thirr liiivc In .11 11" iiiiili rliil rliiinKi-ii In |irlic« durlnv 



rurliilKhi. 



=-< PITTSBURGH >■: 



•<, BOSTON >.= 



.V viTj- <pilcl condltlnn of t.n-in. -~ |.r. vnIN In lb.- bardwood Iradi- of 

 this diNtrlcl. In addlllon to 111.- .■iirr.-ntiv r(«porti.d InntancfN of low 

 Ki'lllnK. Ibcr.' Hi'emK to bi', for lb.' (IrKi timi- of lalp. a woaki'nluii: In Ibr 

 qiiolatlnnK. .\ conKldi'rnblp amount of lb.' liiiHlnoKH carrl<-d on by Ibi- 

 Hysii'in of HlilppInK vin Klop ovitk, to be Nold in traoKll. haH licrn hud- 

 p<>nd<'d on account of tbc Kncrltlc n.'ci'HRary lo complcli- Ibe forced aalc. 

 'I'h.* donlers bore roallK<> Ibut tb'' financial ihihUIoo of botb tbclr nhlppcrK 

 iind patroDH hiiK a very HtrouK influence on ibe courw tbey will pursue. 

 Tbe conKcrvallre attitude of tbe hardwood factom, both doalera and con- 

 sumer.s. In Ibln section hax op.>rnted very favorably to atondy thia mar- 

 ket even under tbe condition of a ^really reduced movement of atock. 

 While the proHpect for good busln.'fts Is nol slronit. there are many evi- 

 dences tbiil a coullnuiiUK an.l .■liiiiininiilv.l.v fiivornl.!.- volume of trade 

 will !..■ mall 



=-< BALTIMORE >•= 



While it ciinuot he Kaid thnt a imsitlve improvement ban taken place In 

 th.> hardwood trade, tbe fact reinulns that any further rpceHalona alao have 

 been averted. It does nol upiMNir that the- business at present la narrower 

 than at any time witbl:i the past two monthx, or since the beRlnnInK of 

 the war. On tbe contrary, whatever prospects there are, afford a measure 

 of encouragement. The best Informed members of the trade seem to view 

 the future with some decree of confidence. Of course, the buyers are down 

 to rock bottom, hardly any of tliein placinc orders except as the lumber Ik 

 actually needed. The ipiotatlons have notblni: to do with the call for 

 stocks. If any purchaser really feels that he must have certain lumber he 

 win make inquiries and enter into commltm.'nts, hut If be can do without 

 some particular supplies, not even attractive price concessions will Induce 

 him to place the order. Usually, In tbe case of a buyer Kolng Into the 

 market, there is no trouble about getting together on the matter of price, 

 and In this connection it Is stated that the sellers arc getting about what 

 they did before the war. The trade. It Is said, hag hardly been what might 

 be called norma! since early spring, and the curtailment of tbc export 

 movement naturally caused additional pressure. But the forwardlngs to 

 foreign countries arc rather larger than had been supposed, and the domes- 

 tic business is under correspondingly less pressure because of a quiet 

 export situation. 



I'oplnr is said to be exceptionally uneventful at this time, with another 

 casing off In the lower grades of chestnut. These grades ahowed some 

 improvement last spring, and there seemed to be n prospect that tbe pro- 

 ducers would be able to dispose of their holdings at acceptable figures, but 

 tbe market appears now to have gone back to where It was for a time, and 

 the sellers find It by uo means easy to keep down accumulations. , The 

 better grades of chestnut arc in Jiilr shape, and this Is also to be said of 

 poplar. The mills whicli made a specialty of turning out stocks of hard- 

 woods for the export trade have in many Instances slopped operations for 

 the present, and as the domestic requirements are fairly well sustained, It 

 follows that the holdings of hardwoods are In the main not Inordinately 

 large. With anything like a normal movement no accumulations are to be 

 expected, and it is also to be said that the outlook for a continuance of an 

 expansion In tbe demand is rathir promising. Taken all In all, tbe situ- 

 ation is decidedly better than It might have been and there arc not 

 wanting reasons for feeling entonnigcd. 



=-< COLUMBUS >•-- 



steadiness lias characlerlzril tlio li:ir.iw.j<Kl tr.Hie in Colunilpus and cen- 

 triil Ohio during tbe past fortnight. Buying on the part of retailers Is the 

 best feature of the trade, although some buying Is being done by manu- 

 facturers. On the whole the trade Is In better shape than for several 

 months and prices are fairly steady. The prospects for the future show 

 improvement all along tbe line. 



Dealers arc selling a considerable quantity of hardwoods to take care 

 .if building operations which continue active. Since their stocks are very 

 !.iw they arc compelled to buy steadily lo order to be In a position to 

 lake care of their customers. This is one of the best features. Building 

 operations are not only active In Columbus, hut also In the cities and towns 



