flflPJIWDl RocoM 



Published Irv the Interest of HsiLrdwood Lumber, AmerlcBLn HsLrdwood Forests, Wood Verveer Industry. Hai.rdwood Flooring, 

 Ha.rdwood Interior Finish, Wood CKenrvlcaLls, Sa.v\r Mill a.nd Woodworking Mai.cKlrkeiy. 



NEW 



I: 



Vol. XXIX. 



CHICAGO, DECEMBER 10, 1909. 



No. 4. 



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



THE HARDWOOD COMPANY 



HENRY H. GIBSON. Editor. 



EDGAR H. DEFEBAUGH. Manner. 



6lh Floor. Ellsworth Bldg., 355 Dearborn St., Chicago, III. 

 Telephones Harrison 8086-8087-8088 



Eastern Territory - 

 Northern Territory 



REPRESENTATIVES 



Jacob Holtzman, 916 Rothscliild Bide., Philadelphia. Pa. 

 - C. F. Dedekam. 355 Dearborn St., Chicaeo 



TERMS OF ANNUAL SUBSCRIPTION 



In the United States, Canada. Philippine Islands and Mexico . . $2.00 



In all other countries in Universal Postal Union ..... 3.00 



Subscriptions are pa>'ahle in advance, and in default of written orders to the 

 contrary are continued at our option. 



Entered as second class matter May 26, 1902. at the Postoffice at Chicago. 

 111., under act of March 3, 1879. 



Advertising copy must be received five da.ys ir\ aLdvo-noe of 

 pub!lca.tlorv da.te. AdvertisinA rentes on ai.ppIicaLtioi\. 



Coming Association Meetings 



NATIONAL VENEER & PANEL MANUFACTUKEES' 



ASSOCIATION. 

 The amiual meeting of this orgaaiization will be held at the 

 Auditorium Hotel, Chicago, December 14 and 15. 

 E. H. DEFEBAUGH, BUEDIS ANDERSON, 



Secretary. President. 



INDIANA HARDWOOD LUMBERMEN'S ASSOCIATION. 

 The next annual meeting of this association will be held at 

 Indianapolis, on Thursday, January, 13, 1910. 

 C. H. KRAMER, JOHN M. PRITCHARD, 



Secretary. President. 



HARDWOOD MANUFACTURERS' ASSOCIATION OF 



THE UNITED STATES. 

 The eighth annual meeting of this association will be held 

 at the Sinton Hotel, Cincinnati, on Tuesday, Wednesday and 

 Thursday, Febraary, 1, 2 and 3, 1910. 

 LEWIS DOSTER, R. M. CARRIER, 



Secretary. President. 



General Market Conditions 



In the aggregate there are I'avoralile reports of hardwood sales 

 conditions from all the different marketing sections of the United 

 States. However, say what you please, in the eastern states trade 

 is not as good as it was hoped a month ago it would have been 

 at this time. Business comes in fits and starts and is distinctly 

 spotted. Buying will go forward strongly for a few days, and 

 then there will be a cessation of demand. To be sure, everything 

 of a particularly desirable character is picked up promptly, but 



lower grades of stocks of not particularly satisfactory sawing, 

 width and grade are dragging more or less. 



On the whole, the situation is healthy but nothing indicative of 

 boom conditions or fancy prices. The elements of uncertainty as 

 to the future of values seem to be jiretty well eliiuinated, as buyers 

 recognize that desirable items in nearly every varietv of hard- 

 woods are in short supply and very little remains in first hands. 



There is an increased sale on common and coarse end of nearly 

 all varieties, induced largely by the fact that firsts and seconds 

 are pretty nearly out of the market. Oak and wide, good poplar 

 are the strongest items on the list, and anything in either kind of 

 wood of good quality is selling rapidly at good prices. 



Monej' is comparatively easy and thus everyone who has any 

 license to get bank accommodations can secure them. 



There is every prospect of au increased demand in the furniture, 

 automobile body, wagon, coflin, casket and interior woodworking 

 trades, and doubtless there will be a good volume of hardwood 

 business handled throughout the entire winter. 



Prices are gradually stiffening, especially on firsts and seconds 

 and No. 1 common of nearly all varieties of hardwoods. 



Hardwood Stocks out of Balance 



With the lumber trade situation as it has been during the past 

 eighteen months, it is undeniable that the result has been to throw 

 the average stock of hardwood lumber at milling points, and in a 

 good many instances at receiving points, badly out of balance. 

 Manufacturers ordinarily have been able to keep their stocks in 

 good shape, but through stress of circumstances for months they 

 have been obliged to market the cream of their stocks, so that 

 they could not keep on their yards a good relative proportion of 

 grades. 



Tn the aggregate, there is a good stock of hardwoods the coun- 

 try over, but most of the yards are stripped of firsts and seconds, 

 and in many instances of No. 1 common. There is undeniably an 

 overstock of the coarse end of nearly all grades, which it is going 

 to take considerable time to clean up and get stocks back in good 

 shape. Every effort is being made to market this coarse end, at 

 prices that will leave a margin for manufacturers, with fair 

 success at the present time. 



Of course, the present trend of conditions makes it imperative 

 that manufacturers cut into lumber a large quantity of lower 

 grade timber that formerly was' left in the woods to burn or decay. 

 Therefore, the percentage of lower grade product is much greater 

 than it has been in the past. The eventual outcome of this condi- 

 tion undoubtedly will be an immense increase in the manufacture 

 of clear dimension stock from low-grade logs and lumber at points 

 of production, and this, seems to be about the only logical solution 

 of an economical method of handling the low-grade problem to 

 advantage. 



The Government's Price List 



The Eecord is in ri'ceii.t iil tin- I'on st .Service's printed pamphlet 

 covering an alleged record of wholesale prices of lumber, "based 

 on actual sales made f. o. b. milling points" for July, August. 



