848 JOURNAL OF FORESTRY 



January, 1917, and continued to rise until July, 1918. Shingles rose 

 in the winter of 1916-17, fell from the spring of 1917 to early in 1918, 

 when they rose again only to fall since the middle of the year. Ground 

 wood pulp was low up to the fall of 1916, when it rose for a short 

 period. When the United States went into the war it fell off rather 

 rapidly to July, 1918, since when the tendency has been slightly up- 

 ward. Soda pulp made its most rapid rise in the spring of 191 6, con- 

 tinued to rise until we entered the war, then fell to the end of 1917, 

 and was practically stationary in 1918. Sulphite pulp rose rapidly 

 from the spring of 1916 to early in 1917, then fell until the spring of 

 1918, since when it rose again, especially in August and September. 

 Logwood rose most rapidly between February and May, 1916, after 

 which the price fell back almost to its starting point by October ; then 

 rose, with more or less fluctuation, until the end of the war. Fustic 

 rose in September, 1914, kept that level for a year, then rose at inter- 

 vals until May, 1916, after which it was again stationary for sixteen 

 months. It made a sudden spurt in October, 1917, fell back, and rose 

 again in the summer of 1918. Resin declined in price until October, 



191 5, when it rose sharply until December, fell again, rose in June, 



1916, and, after considerable fluctuation, began in May, 1918, a period 

 of extremely rapid rise, which was maintained until November. Tur- 

 pentine followed an erratic course, with rises in the winters of 191 3-14, 

 1915-16, 1916-17, fall of 1917, and last half of 1918, but did not reach 

 very high levels at any time. Shellac price paralleled the English price 

 very closely until June, 1917, when it declined for five months; then 

 rose until November. 1918. Acetone followed somewhat the same 

 course as in England, although not quite at the same times. Its period 

 of most rapid rise began in December, 1914, and continued with one 

 or two short interruptions until March, 1916. The price then fell 

 sharply until the end of 1916, rose during 1917, and has fallen since 

 March, 1918. Acetate of lime followed almost exactly the same course 

 in the United States and England, except that the fall in price late in 

 1916 started a month sooner in the United States and went to a much 

 lower level. Its recovery during 1917 was spread over a longer period, 

 did not reach as high a point as in England, and it fell off again in 

 April, 191 8, while the English price remained stationary. Acetic acid 

 also followed very similar courses in the two countries, except for a 

 few months later start in the United States, a somewhat earlier decline 

 in 1916, and a later rise in 1917. In the United States there was also 

 a low period in the winter of 1917-18 and a sharp fall beginning in 

 July, 1918. which had no counterpart in the English curve. 



