' 



-S2- 



Ths over uroducticn that has usually followed an era of high Yellow 

 Pine prices has not taken place this year because of labor shortage. Lack of 

 labor, and to a lesser extent the car shortage limits the production of Yeliov 

 Pine mills to frorc 50% to 70^ of normal prod-action, and the lumbermen are con- 

 sequently able to sell this reduced output at high prices. 



3 . Special Factors Affecting the Pr ices of P her Kinds of Lumber : 



(A) Ash: 



Ash prices have been very stable during the perf.ods of depres- 

 sion and have risen steadily since the beginning of 1917 . The strong govern- 

 ment demands for Ash handles, oars, and airplane parts and the relatively small 

 and declining production of ash are sufficient to account for this rise in 

 price. 



(B) Bass-.vood: 



Basswood prices felt the full effects cf the depression in 



1914 and 1915, but a rise in Basswood prices commencing late in 1916 was rein- 

 forced early ir 1918 by a strong government demand for Basswood for saddle 

 stock and hydroplane bodies. The result of this increased demand, for a wood 

 that is produced in relatively SLiall quantities was to force prices up during 

 1918 at a rate not exceeded by that of any other hardwood. 



(C) Birch: 



Birch, used chiefly for planing mill products, boxes and 



crates, furniture, chairs, woodenware, shuttles and fixtures fell to a, very -low 

 price in 1915, but since than Birch prices have climbed steadily. Birch is 

 used for training plane propellers, army vehicle stock and ooxes, and such an 

 advance in prices is to to expected. 



(D) Chestnut: 



Chestnut prices have corresponded very closely to the prices 

 of Hard Maple, Ash, Poplai and Hemlock. While the Chestnut blight has in- 

 creased Chestnut production temporarily, the effect of the reduction in Chest- 

 nut stands has probably offset th-s effect of a short-lived increase in Chest- 

 nut cutting.-' 



(]) Cypress: 



The significant feature to be noticed in Cypress prices, is 



the firnness thoy maintained during th-3 period of depression in 1914. While 

 prices of Yellow Pine declined sharply, Cypress prices were shaded only slight- 

 ly. 



Cypress prices have bsen maintained in the face of declining 



lumber market because of the special demand for the durable lumber Cypress for 

 doors, saahvblinds, tanks, silos and because of the combination of circumstances 

 (W. I. B. 359-52) 



