THE PRICES OF HOME TIMBER. 223 



desire to express their gratitude. They beg to submit their 

 conclusions as follows : — 



From 90 7o to 95 % of the timber used in this country is 

 imported. Home timber is therefore of secondary importance 

 to the trade, and prices are ruled by the foreign rather than the 

 home supply. The timber imports of the United Kingdom 

 amounted in 19 12 to more than 500,000,000 cubic feet (the 

 value of which is estimated at ;^28,35o,ooo). The main sources 

 of supply are Russia, Sweden and Finland, but there are also 

 very large imports from North America. The particulars 

 regarding these imports may be found in the Board of Trade 

 Journal, where quantities are given in "loads" of 50 cubic feet. 



In the European markets the "St Petersburg" standard of 

 165 cubic feet is generally accepted for deals, battens and 

 boards, and all prices and charges are based on this unit; for 

 log timber, i.e., square balks of some length, the measurement 

 is by the "load" of 50 cubic feet or the standard of 150 cubic 

 feet. American timber is usually dealt with by the "load" of 

 50 cubic feet or by the cubic foot. There are numerous other 

 conventional measurements, such as the " cubic fathom," which 

 need not be further referred to. Pitwood, and other similar 

 material in the round, is commonly sold by the running or 

 lineal foot, or by the loo lineal feet. For purposes of comparison 

 it is necessary to reduce all these rates to a price per cubic foot. 



Foreign coniferous timber is not usually quoted by the name 

 of the tree, the merchant's classification being " whitewood " 

 and "redwood." These again are graded according to quality 

 into three or sometimes five classes, and an additional class is 

 described as " unsorted." 



Foreign timber not only rules the market prices but also 

 commands a much higher price than home timber of the same 

 quality, as the following figures will show : — 



Recent approximate quotations for east coast ports, for lengths 

 up to 24 feet or 26 feet, taken from the Timber Trades Jour?ial m 

 February 191 3, were as follows : — 



Redivood — 



ists. 

 Ins. Per Standard. Cub. ft. 



3 by II ^18 10 2/3 

 3 „ 9 15 o i/io 



3 » 7 12 15 i/6i 



