HARDWOOD RECORD 



21 



The Trouble with the Times 



On the whole the general business of this country is from fair 

 to good, and when one talks about "the trouble with the times" 

 there is and should not be any serious menace to the future of 

 business conditions. 



The only trouble with the times seems to be a general distrust 

 brought about by political and commercial agitation. Theodore 

 Eoosevelt discovered that there was a good deal of political and 

 commercial wrong-doing in this country. He set about in a drastic 

 way to expose these wrongs and attempt to correct them. Trusts 

 and corporate money resisted these attacks. He had a fight on hand 

 in every quarter of the country. A panic ensued and while cor- 

 porate greed was checked, the average business man suffered, and 

 this suffering went down the line to the poorest laborer in the land. 



Mr. Roosevelt set up new ideals of commercial integrity and in 

 carrying out these ideals he has many followers. Chief among these 

 followers is the present incumbent of the White House. 



Mr. Eoosevelt left matters in a good deal of turmoil. While 

 President Taft was equally anxious to see good morals and a 

 ' ' square deal ' ' prevail in politics and business, he has largely 

 ceased working on Mr. Roosevelt 's drastic lines, but has chosen 

 rather to placate everybody and everything as far as was in his 

 power. He probably has been unfortunate in his selection of 

 advisers, because he certainly has things in worse shape than, they 

 were left by his predecessor. No matter what the result of the 

 BalUnger investigation may be, Mr. Ballinger is discredited in the 

 minds of nine men out of ten. Mr. Taft is in all sorts of rows with 

 other countries over his Aldrieh-Payne tariff law, and he is certainly 

 in bad with the average American citizen. 



Roosevelt was brave in his attempts. He welcomed a fight when 

 he thought he was fighting for the right. His successor undeniably 

 has made an honest attempt to accomplish Eooseveltian ideas on 

 lines of conciliation and diplomacy, but the "big stick" has been 

 hidden. Roosevelt was sponsor for a cult which has grown up in 

 all parts of the nation and has been popularized — the agitators. 



The nation has become pessimistic. The great publishers of the 

 country, with doubtful integrity of purpose in many cases, have 

 dug into the by-ways for any possible thing which they could 

 attack. They have gone for and after conservation; they have gone 

 after railroads; they have gone after Alaska legislation; Colorado 

 politics; Standard Oil; the sugar trust; Joe Cannon; general busi- 

 ness morals and hardwood inspection. 



There is a perfect tornado of muck-raking, and it has come to 

 such a pass that the average business man would be willing to 

 take any sort of bitter medicine if by that means he could once more 

 bring about commercial peace and harmony in the land. 



that business men in general are becoming convinced that with 

 production and distribution carried on in accordance with sound 

 economic laws, there need be no fear whatsoever of the ripples 

 caused by state or Federal legislation or action, which constantly 

 keep the bosom of the industrial sea in a state of minor unrest. 



Prosperity Shown by Iron and Steel Production 



That Wall Street is evincing a growing callousness as far as adverse 

 legislation is concerned, and is exhibiting a tendency to overlook the 

 more or less temporary effects of recent and pending congressional 

 action, for the more genuine indications of industrial soundness, is 

 the note most strongly sounded in Charles M. Schwab's report on 

 the iron and steel production, recently published in the Wall Street 

 Journal. 



Mr. Schwab makes the astonishing prophecy that in the near 

 future there will be a yearly increase in the yearly output of iron 

 and steel, of forty million tons, a statement which really reiterates 

 his prediction of a few years ago that the net earnings of the 

 United States Steel Corporation would shortly amount to $250,000,000 

 yearly. 



Of paramount importance, however, is the moral support, lent 

 business in general, by the unwavering conviction of this industrial 

 Goliath in the ability of the United States to rise unchecked over 

 all adversity, to a goal of prosperity higher than ever before 

 attained. 



Evidence of late has been plentiful, according to this authority, 



An Inning for Mahogany 



There is a material strengthening in mahogany values at liverpool, 

 the cliief point of assemblage and distribution outside of the few big 

 importers in the United States. This was particularly noticeable at 

 the Liverpool sales on March 16 and 17. The Timber Trades 

 Journal of Liverpool is responsible for the statement that there was 

 a falling off of forty-two per cent in imports of mahogany logs 

 during 1909 as compared with 1908. 



There is manifestly a dearth of stocks of mahogany logs at points 

 of production, otherwise it is certain that with the advancing values 

 exporters would have rushed them forward before this time to get 

 the benefit of the increasing values that have developed during the 

 last five of six months. 



With the increased price of high-class American furniture woods, 

 mahogany is certainly having an inning in the way of demand, and 

 today it is in an exceptionally strong position. The surprising feature 

 of the situation is that mahogany lumber values are not advancing 

 at all in proportion to the rise in oak, and this is assuredly the fault 

 of the manufacturers and dealers in this premier of furniture woods. 



It is also noted that there is a marked improvement in the general 

 character of log shipments now being received at Liverpool. The 

 London contemporary recites that in question of size, utility and 

 ease with which a wood can be seasoned and manipulated and the 

 cost of finishing, mahogany stands an easy first when compared with 

 all other high-class furniture woods. Even the lower priced wainscot 

 oak now on the English market, if the difference of measurement is 

 considered, is distinctly dearer than the much superior mahogany. As 

 a matter of fact yellow poplar panel in wide 'stock commands a 

 higher price today in the English markets than does mahogany. 

 The American demand for mahogany is manifestly increasing, and it 

 is up to the producers to get a price for it that is something near 

 commensurate with its value 



Editorial Notes 



There is a good deal of talk about a lumbermen's liability insur- 

 ance company that will embrace sick benefit, life and accident 

 policies for employees. This eventually will be a success if 

 employees can be convinced that the employer is the best friend 

 thev have, and is interested in the welfare of those whose labor 

 contributes to his prosperity. Such a system of insurance would 

 protect both the employer and the employee against unjust claims, 

 and would drive "jack-leg" lawyers out of the business of 

 enforcing unfair claims from employers and then absorbing sev- 

 enty-five per cent of the resultant verdict for collection charges. 



* « * 



The thoughtful visitor at lumber associations is always impressed 

 with the fact that it is the successful ones of the number who 

 frankly offer at these meetings all the information to their fellows 

 that is in their possession, and sacrifice their time and money for 

 the benefit of the trade at large. There is a reason for it. Can't 

 you CTuess it? These wise men know that the educated competitor 

 is the best competitor that they can have. It is unintelligenv 

 competition that plays hob in business, whether it is the hardwood 



trade or auv other line. 



* * » 



It now looks as though the proposed railroad strike among various 

 railroad employees is on the verge of being settled for some time to 

 come. The Baltimore & Ohio Railroad Company has made a new 

 and advanced scale for its employees, and the same policy will 

 probably be pursued by the big western lines in connection with the 

 demands of locomotive firemen and switchmen. It is sincerely hoped 

 that this result will come about and the strike will be averted. 



