Published in the Interest of Hardwood Lumber, American Hardwood Forests, Wood Veneer Industry, Hardwood Flooring, 

 Hardwood Interior Finish, Wood Chemicals, Saw Mill and WoodworKing Machinery. 



Vol. XXII. 



CHICAGO, JUNE 25, 1906. 



No. 5. 



Published on the 10th and 25th of each month by 



THE HARDWOOD COMPANY 



Henry H. Gibson, President 



Frank W. TUTTLE, Sec-Treas. 



OFFICES 

 Sixin Floor Ellsworth Bldg., 355 Dearborn St Chicago, III., U.S.A. 



Telephones: Harrison 4960 Automatic 5659 



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General Market Conditions. 



While the hardwood demand the country over remains in very good 

 shape, there are indications that the active buying season is pretty 

 well over for at least two months. In a good many quarters in 

 apparent sympathy with the decline of value experienced by yellow 

 pine, hemlock and some of the other building woods, hardwoods seem 

 to have slightly dropped off in price. During the last month yellow 

 pine, especially in sides and their resultant product, has declined. 

 Hemlock is being offered for a dollar less than it was a month ago, 

 and it is not surprising that hardwoods should suffer a little in the 

 general decline. It is not to be understood that there is any par- 

 ticular weakening in hardwood values beyond an occasional instance 

 where manufacturers or jobbers are attempting to force the market 

 on some particular line. For months past a great many kinds and 

 grades of hardwoods have been in such short supply that buyers 

 were falling over each other to obtain even a modicum of the stock 

 their trade demanded, but today the majority of items can be 

 obtained in fair supply and without premium on account of shortage. 

 Conditions are entirely healthy and every indication points toward an 

 early and strong fall trade. 



The demand for plain white oak is still slightly in excess of the 

 supply. There seems to be a little improvement in the call for quar- 

 tered white oak, but prices still range relatively low. Plain red oak 

 is growing into fair supply and the demand still remains good. There 

 is more quartered red oak than the market readily absorbs. 



The immense demand for box and crating stock still keeps the low 

 end of Cottonwood and gum right up to green stock. There seems 

 to be no prospect of a diminution in the demand. Strictly red gum, 

 from the widening consuming demand, is not readily obtainable, and 

 the good end of Cottonwood is almost equally short. 



There is an undeniable shortage in all grades of poplar, while the 

 demand is steady, with reasonably strong prices. If a June tide 

 prevails, which does not always happen, there is enough log supply 

 in the upper streams of the Kentucky, Tennessee and West Virginia 

 rivers to show a reasonably fair supply of poplar for the fall and 

 early winter trade, otherwise all grades of poplar will reach high 

 premium before the year is over. 



Good chestnut remains in excellent demand, and the casket people 

 seem to have pretty close picking to secure enough sound wormy to 

 keep them going. 



In the northern woods the sales of inch maj)le to flooring manu- 

 facturers still remain active, and there is very little unsold dry stock 

 in the hands of manufacturers. Prices still remain not unduly high, 

 but there is a good prospect of an increased value in four-quarter 

 stock before there is any more in first hands ready for shipment. 

 Thick maple still remains slow, owing to the decreased demand for 

 the wood in the agricultural implement and machinery frame con- 

 struction trade; however, there is very little thick stock being sawed, 

 ilanufactnrers are cutting almost the entire log into inch, owing to 

 the excellent demand that is prevailing for this thickness. 



The coarse end of basswood is closely picked up by the box trade, 

 and the better qualities are selling fairly well. 



Gray elm and birch are both accumulating in first hands, and in 

 the face of very low prices are dragging. This seems to be :i 

 remarkable condition to prevail for two as high-class woods as these, 

 considering the active demand and high jirice of woods of inferior 

 quality that come into competition with them. 



Eock elm and black ash are practically out of the market. The 

 area of growth of both these woods has become very limited and the 

 supply is entirely inadequate to meet the demand. The same can 

 be said of hickory and the white ash of the South. 



Flooring people, by exercising a good deal of conservatism in the 

 quantity of their output, are still having an excellent demaud. and 

 undeniably are making some money. 



Mahogany seems to be ini]jroviug in demand, but the price still 

 rauges remarkably low for this aristocratic wood. 



The situation in cherry and black walnut is featureless; even for- 

 eign demand for the latter is more or less spotted, and the prices 

 obtained for this splendid wood are undeniably very much below the 

 values it should command. 



Both the veneer and panel people are reasonably busy. The veneer 

 men have not yet succeeded in establishing very much uniformity 

 in manufacture, grading and value for their output, with the result 

 that prices under varying conditions show a wide latitude. A few 

 concerns in the business are making considerable money; others are 

 running along about at cost of jirodviction, and still others are losing 

 considerable sums. 



Hardwood Flooring Situation. 



Manufacturers of oak, maple and beech llooriug have enjoj'ed 

 a very prosperous season. The hardwood flooring business has fallen 

 for the most part into the hands of a group of very able men, saga- 

 cious enough to understand that they must not overload the market 

 if they would have a fair price for their product. The maple and 

 beech flooring plants, which are very largely located in Michigan, 

 have an annual capacity of more than 300,000,000 feet. The outj(ut 

 of these plants for the past year has been considerably less than 

 1300,000,000 feet. Kvery jirodncer has awakened to the necessity of 

 keeping his output down to market requirements. There is a general 

 impression that maple flooring manufacture is highly profitable, and 

 as usual under such conditions competitive plants are constantly 

 being buUt, with the idea of getting "a piece of easy money." 

 These would-be breakers into a "good game'' are not as thoroujjhly 



