HARDWOOD RECORD 



made by manufticturers to nm tlieir plants to capacity, luit with the 

 longer hauling distances and growing scarcity of timber, compara- 

 tively few are able to accomplish this result. For example, it is doubt- 

 ful if the Memphis district will produce as large a quantity of lum- 

 ber this year as it did last. Every sawmill man in that region is 

 liaving difficulty in securing a prompt movement of his logs to the 

 mill, and very few are able to run to anywhere near full capacity. 



The car shortage, which is just in its inception, may cause quite an 

 accumulation of stock at both northern and southern sawmill points, 

 but undeniably advance orders will clean this stock up very closely 

 with the growing plentifulness of cars after the crop and cotton move- 

 ment has been taken care of. 



The mahogany and other foreign wood situation never was as strong 

 in the history of the trade. Many manufacturers of these woods are 

 sold up months in advance, and all are getting a substantial advance 

 over prices of a few mouths ago. There is an undeniable shortage in 

 mahogany logs, and an increasing demand for the lumber, owing to 

 the almost parity of prices be- 

 tween mahogany aud the higher 

 grades of American grown hard 

 woods. 



The veneer and panel business 

 is very active, and producers of 

 sliced stock, notably in mahog- 

 any, are making very handsome 

 profits. There is no marked in 

 crease in the prices achieved for 

 rotary cut and .sawed stock, al 

 though there is a considerable 

 strengthening of the situation. 

 Sawed oak veneers are still be 

 ing sold, considering log and 

 labor cost, at very much less than 

 they should be in comparison with 

 the values attained by lumber 

 products. 



There seems to be an increas- 

 ing call for wagon Woodstock, 

 with more satisfactory values be- 

 ing obtained. 



The handle business, both in 

 hickory handles and broom han- 

 dles, is in better shape than for 

 ai long time, but still this output 

 is being marketed at a pretty 

 close margin of profit. 



There is a growing demand and an increasing output in dimension 

 stock, which is now being sold on a basis that leaves a little profit for 

 the producer. However, dimension stock values are still ranging ten 

 to twenty-five per cent lower than they should in comparison with 

 lumber prices. Doubtless, with a better knowledge of the require- 

 ments demanded by remanufacturers in dimension stock, and the 

 more careful making and sea.soning of this material, better prices can 

 shortly be secured. Tliere should be a co-i)])erative movement between 

 the furniture, flooring, interior finish and other trades which employ 

 dimension stock, and manufacturers of this material, to secure .'i 

 higher-class and more satisfactory product, for which renumufactunMs 

 can afford to pay a better price. 



The Issues of the Campaign 



The national campaign for the election of the president of th',' 

 United States for the next four years, a large number of senators 

 ;uid representatives, and various state and county officers, will be 

 held on November 5 next. The campaign thus far has been a mucli 

 less disturber of business tlmn any previous one in the history ot 

 the country. .\s a matter of fact, the business public has really 

 gone on doing business regardless of what might be the outcome 

 of the general jelection, and there has been a remarkable freedom 

 from hesitancy in purchase or general investment incident to the 

 i-ampaign. 



The general indifference to result on the part of the average 

 individual is remarkable, and there has been comparatively so 

 little discussion of the jilatforms of the three leading candidates 

 for the presidency as to warrant the belief that there is almost a 

 ]iaucity of knowledge on thfe part of the average man on the 

 subject. 



Hakdwood Eecord has no desire to take any sides hi the 

 issues of this campaign, or to boost or deprecate the election of 

 any particular candidate, but perhaps it may be pertinent to repro 

 duce in this connection a brief analysis just published by William 

 De Witt Hyde, president of Bowdoin College, in which he epito 

 mixes both the personnel of the various candidates and what each 

 one stands for as recited in the various platforms: 



CANDIDATES 



Shall we have for president a judge? 

 Or a scholar? 

 Or a prophet? 



UNSOLICITED TESTIMONIAL 



MAXi:F.\CTt;RERS OF 



HARDWOODS AND TENNESSEE YELLOW POPLAR 



Townsend, Tenn., 

 Record. 



Sept. 16. 1912. 

 Editor Hardwood 



Chicago, in. 

 Dear Sir; 



I want to compliment you on the last issue of Hard- 

 wood Record. It is surely a dandy. You certainly did 

 yourself proud, in my judgment, in this issue. I read it 

 yesterday as diligently as I usually apply myself to my 

 Bible and prayer book on the Sabbath day. 



Please send a copy of this issue, 



with my compliments. 



Very truly yours, 



W. B. TOWNSEND, 

 President and General Manager. 



Sliall we have for vice-presi 

 dent a reactionary? 

 Or a moderate? 

 <1r a reformer? 



TERM OP OFFICE 



Shall we have two terms, with 

 the first a steam roller for the 

 second? 



Or, more fearful of evU than 

 hopeful of good, a single term? 



Or as many terms as the peo 

 pie's need of leadership de 

 mands? 



THE TARIFF 

 Shall we have a tariff whicli 

 forces the consumer to pay on 

 whatever manufacturers see fit to 

 produce the difference in cost of 

 production here and abroad, ap 

 proximated by a scientific tariff 

 board ; plus a reasonable profit 

 determined by the manufacturers 

 themselves? 



Or a tariff reduced steadily 

 downwards towards a system of 

 Just charges rather than govern 

 mental patronage, beginning witli 

 tlie schedules which have most 

 obviously been used to kill com 

 petition and keep prices heri- 

 above prices of the same articles 

 sold abroad? 



Or shall we have a tariff recom 

 mended by a tariff commission 

 with power to inquire into costs 

 of production, conditions of labcr and wages, and cost of protec- 

 tion to the consumer; administered with an eye to the workman's 

 pay envelope as well as to the employer's pocket: and with the 

 presumption in favor of the consuming jiublie wherever cost to 

 consumer exceeds benefit to the producing class? 



CONTROL OF CORrOKATIONS 



Shall we have attempted restoration of competition by enfori r 

 ment of existing and supplementary law; with possibly ,i trad> 

 commission of very limited authority, and voluntary incorporation 

 under a federal incorporation law? 



Or shall we rely largely on state remedies for national evils, 

 enforced by vigorous prosecutions under existing and supple 

 mentary federal law; and valution, supervision, and rate rogula 

 tions of railways, express companies, telegraph and telephone lines 

 by the Interstate Commerce Commission; with prohibition from 

 engaging in business which brings them into competition with their 

 shippers and patrons, and from overissue of stocks and bonds? 



Or shall we have national regulation of interstate corporations 

 by a strong federal administrative commission, which shall main 

 tain permanent active sujiervision to enforce complete publicity of 

 such corporate transactions as are of public interest, .and prevent 

 unfair competition, false capitalization, special privileges, swin 

 dling prospectuses, with a view to security of investment and 

 equality of opportunity for all; and, where necessary, rogulatorv 

 control over the conrlitions that create or determine monopolT 

 prices? 



I^ABOR 



Shall we regard the hard conditions of labor as mainly inevit 

 able results of natural and moral causes; their substantial ini 

 provement by legislation a "Socialistic dream"; iraiting for 



