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Published in ihe Inlercst of ihe American Hardwood Forcsis, the Products thereof, and Logging, Saw 

 Mill and Wood-working Machinery, on the lOlh and 25lh of each Monih, by 



THE HARDWOOD COMPANY 



Henry H. Gibson, President 

 Burdis Anderson, Sec'y and Treas. 



Entire Seventh Floor Ellsworth Building 

 537 So. Dearborn Street, CHICAGO 



LIBRA] 

 NEW YO 



KOTANIC 

 — OAliOB 



Vol. XXXIV 



CHICAGO, SEPTEMBER 25, 1912 



No. 11 



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Editorial Comment 



General Market Conditions 



It is apparent iu all hardwood centers that there is more difficulty 

 in filling orders at present than in securing new business. Stocks 

 in both northern and southern producing points have as yet had no 

 opportunity of accumulating, with the result there seems to be about 

 a level between the incoming dry stocks and actual requirements for 

 immediate shipment. Apparently every important consuming center 

 in the country also has experienced a distinct difficulty in securing 

 sufficient ears for shipments. The result of this condition is too 

 manifest to require comment. 



The general activity in buying, which is apparent at present from 

 all localities, may no doubt be attributed to the season of the year. 

 With the holiday demand for various household articles, such as fur- 

 niture, tables, pianos, organs, etc., but three months away, buyers are 

 following the regular custom of laying in sufficient extra stock to take 

 care of such increased demands on their plants. This condition is 

 further augmented by the decided short stock which has been main- 

 tained among the consumers' yards for several years. 



Large buyers have been more or less skeptical of the widely 

 annouuccd shortage of dry stock, and until very recently have hesi- 

 tated about placing big orders, believing that there would be a 

 break in prices and that the advanced condition of the market was 

 more or less of an inflation. Tliis idea seemingly has been connected 

 with a resulting advantage to sales. 



Handlers of such woods as go into the manufacture of pianos are 

 reporting a much brisker demand for their products, which of course 

 would indicate a healthy condition in the piano trade. Furniture 

 manufacturers are in very fair shape. 



There has been of late also a noticeable improvement in the demand 

 for panel poplar, with a resulting slight increase in values. Prices 

 for this stock, of course, are not even approximating the high market 

 which they reached before the break, but it is doubtful if this con- 

 dition will be desirable. 



An encouraging tone is also noted from the producers of quartered 

 oak. Actual sales above standard price quotations are frequent in 

 this item, and in some sections an actual scarcity in quartered oak is 

 reported. This is undoubtedly traceable to some extent to the high 

 value obtained for mahogany. There seems to be a see-saw action 



between these two woods, which tends to keep one and then the other 

 in the limelight. It is doubtful, however, if the actual popular 

 demand for quartered oak is much stronger. Plain oak, of course, 

 continues to be a highly prized and not easily secuied item, demand- 

 ing a strong level of prices. 



In the northern woods the gratifying volume of hardwood flooring 

 sales is taking care of a large amount of maple, beech and birch. 



While reports from salesmen calling on the yard trade indicate that 

 large yard concerns are buying generously, it is possible that this 

 stimulation in the yard demand is caused partly by the usual desire 

 of the yard man to get as much of a stock in pile as possible before 

 the cold and inclement weather and snows, which makt his operations 

 more expensive. The question of team hauling opens up another con- 

 dition which has some bearing on present increased demand. Where 

 hauling is necessary, the yard men prefer to have their stuff come in 

 before the winter snow makes this operation doubly expensive. 



Reports from southern manufacturers demonstrate that No. 1 

 common quartered oak is a strong item. Oak car material has shown 

 decidedly increased strength, due to large purchases by the railroads. 

 An average advance of two dollars is noted. 



Chestnut enjoys a healthy condition, and there is every reason to 

 believe that there will be a large movemeut of this stock in the near 

 future. 



Bed gum box boards are moving fast, and in firsts and seconds an 

 advance of one dollar is noted. Quarter-sawed red gum enjoys an 

 advance in price in firsts and seconds of one-dollar-and-a-half, and one 

 dollar in common. 



Ash, especially in thick stock, is decidedly stronger, while cotton- 

 wood is moving in good quantities. 



The general report from southern operators in particular is that 

 all hardwoods are in excellent condition, and that if the demand con- 

 tinues as at present, most of the millinen will start the winter months 

 with badly broken stocks. 



It is reported from export points along the gulf that a large 

 amount of all kinds of lumber is awaiting shipment abroad. In pine 

 alone some 1,500 cars are held up awaiting shipping space. 



Taken as a whole the trade exhibits a gratifying condition at 

 present, and there seems to be every evidence that firm trade charac- 

 terized by continued firm prices will prevail for an indefinite period. 



SUBSCRIPTION TERMS: In tile fniteii State.s .Tmi its possessions, 

 and Canada, $2.0U tlie year; in foreign countries, $1.UU e.xtra postage. 



In conformity with the rules of the postofRce department, subscrip- 

 tions are payable in advance and in default of written orders to the 

 contrary, are continued at our uiition. 



Instructions for renewal, discontinuance, or change of address, should 

 be sent one week before tlu- date they are to go into effect. Both old 

 and new atidresses must be given. 



Both display and classified adverti.sing rates furnished upon 

 application. 



Advertising copy must be received five days in advance of publica- 

 tion dates. 



Telephones:— Harrison S0Sfi-.S0S7-S0SS. 



Henry H. Gibson, Editor; Hu Maxwell and Edwin W. MeeRer, Asso- 

 ciate I'^ditors. 



Entered as second-class matter May 21!, 1902, at the postoHice at Chi- 

 cago. III., iHider act of March o, 1S79. 



