ftflMwol MM- 



M£W V 

 Published If\ the Interest of Ha^rdwood Lumber, Amerlca.n H&rdwood Forests, Wood Verveer Industry. HsLrdwood Flooring, >j„~. 



HaLrdwood Interior FIrxIsh, Wood CKemicaLls, Sa^w Mill 8v.nd Woodworking Ma.cKlnety. BOTAN 

 ,^_^ QARO 



Vol. XXX. 



CHICAGO, APRIL 25, 1910. 



No. 1. 



Published on the lOlh and 25lh of each month by 



THE HARDWOOD COMPANY 



HENRY H. GIBSON. I'losidenl LOUIS L. JACQUES. Sec'y and Treas. 



Sixth Floor, Ellsworth Bldg., 355 Dearborn Street, Chicago, 111. 



Telephones Harrison 8086-8087-8088 



Eastern Territory • 

 Northern Territory 

 Southern Territory ■ 



REPRESENTATIVES 



Jacob Hoitzman. 5254 Larchwood Ave.. Philadelphia. Pa. 

 C. F. Dedekam, 355 Dearborn St.. Chicago 

 E. \V. Meelier. 355 Dearborn St.. Chicaeo 



TERMS OF ANNUAL SUBSCRIPTION 

 In the United Slates, Canada, Philippine Islands and Mexico $2.00 



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



Subscriptions are payable 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 Chi- 

 cago, III., under act of March 3, 1879. 



Advertising copy must be received five days in acivance of 

 publication date. Advertising rates on application. 



Coming Association Meetings 



MICHIGAN HARDWOOD MANUFACTURERS' 

 ASSOCIATION. 

 The spring meeting of this organization will be held at 

 the Ponchartrain Hotel, Detroit, on Thursiiay, May 5. 

 J. C. KNOX, Secretary C. A. BIGELOW, President. 



NATIONAL HARDWOOD LUMBER ASSOCIATION. 



The next annual meeting of this organization will be held 

 at the Seelbach Hotel, Louisville, Ky., Thursday and Friday, 

 June 9 and 10, 1910. 



F. F. FISH, Secretary. O. O. AGLER, President. 



General Market Conditions 



A condition of hesitancy still prevails in sales conditions covering 

 hardwoods, although undeniably these woods are in better shape 

 than any of the building woods. Dry stocks in firsts and seconds 

 and Xo. 1 common, in first hands and in the possession of jobbers, 

 are sold up very close. This is true of practically every line of 

 hardwood production. The effort to move the lower grades at a 

 concession in price is not meeting with much success. Buyers 

 api>arently will not interest tliemselvis in an attempt to utilize low 

 grade.s, especially as there is not au urgent demand for any line 

 of goods which requires hardwood lumber in its manufacture, and 

 are playing a waiting game, apparently hoping against hope that 

 they will eventually be able to secure all the high-grade stock they 

 want. There is a good sale even at increasing values on most item.: 

 of good lumber, and of course, an especial shortage in oak and 

 poplar, and a considerable one on the good end of Cottonwood, majde, 

 birch and red gum, but these items constitute such a small propor- 

 tion of the general aggregate of lumber production that stock 

 jirobably is accumulating coi;siiIerably on the whole. 



The crux of the situation lies in traflSc conditions. Railroad traffic 

 is decreasing this month instead of increasing, as is usual at this 

 period of the year, and the statement of car surpluses and shortages 

 compiled by the American Eailway Association shows au increase of 

 ;i9,215 cars in the total, while the shortage has been reduced 12.256 

 cars during the two weeks ending April 21. 



These figures are significant of the general falling off in heavy 

 traffic, but may be attributed more to the suspension of coal ship- 

 ments than to lumber shipments. There was an increase of 4,693 

 cars in the box car surplus, and a decrease of 5,089 cars in the 

 shortage of this class of equipment, which is a significant feature, 

 and the total surplus of 84,887 cars is an increase of 39,215 cars, 

 while the shortage of 7,530 ears is a decrease of 12,256. 



In every group except three there were notable gains in the sur- 

 pluses, the division embracing Iowa, Illinois, Wisconsin, ilinnesota 

 and the Dakotas showing an increase of 3,518 cars, the largest given 

 in last week's record. 



Of course, weather conditions prevailing during the la.st fortnight 

 have had considerable to do with the trade decadence, and there is 

 nothing alarming in the situation because undeniably hardwood trade 

 will resume its normal trend within the next month. 



Financial conditions still remain easy although collections in nmny 

 ijuarters are dragging. 



There is nothing in the situation that pessimists can seize on as 

 indicating a general diminution in trade, as on the whole the outlook 

 is bright for increased demand and augmented values in most lines 

 of hardwood production. 



The Low-grade Problem 



The one subject that is today absorbing the attention of every 

 student of hardwood atfairs is the low-grade problem. It is the 

 bugbear of the hardwood business, which militates against material 

 profits. Such lumbermen as have timber properties that are suitable 

 only for the regrowing of forests are fortunate because many of 

 them are now, by selection, taking out only their mature and hyper- 

 mature trees, thus securing a large percentage of high-grade lumber, 

 at the same time leaving their timber in such shape that it naturally 

 regenerates and furnishes a permanent supply. 



Other operators who are working in sections where the agricultural 

 value of their lands, when the trees are removed, is even greater 

 than when timbered, are of necessity compelled to cut close, which 

 results in securing a lumber value on their product little above 

 the cost of stumpage, woods work and saw mill expense. This method 

 of production is resulting in the acquisition of a comparatively small 

 percentage of firsts and seconds and No. 1 common as compared 

 with the general product of the log. There is an accumulation of 

 low-grade lumber, and apparently a diminution rather than an in- 

 crease in the demand for this class of material. 



For some years the hardwood trade has depended (jnite largely in 

 onloadiug its low'-grade stock on the box. shook and crate manufac- 

 turer. During the last year tremendous inioads have been made on 

 the wooden package business by substituting various materials for 

 ])aekage purposes. The trend of the times apparently is to use paper 

 pulp and fiber cases for packing, which in some instances, of course, 

 tire reenforced with strips or crates of wood. This sort of package is 



