Lumber Trade Prospects

Analvsis of Conditionsrrrf"T"i.,tL*"r,n" Industry in the

Washington, July lG-An unusually important survey and analysis of business conditions from the lumber industry's viewpoint, is furnished in a recent letter written by Dr. Wilson Compton, secretary and manager of the National Lumber Manufacturers Association, in-answer to an inquiry from a southern lumber manufacturer. In his letter Dr. Compton says:

"MI analysis of business conditions, r,eflecting information of all varieties and from all types of sources, leads me to the conclusion that moderate industrial activity is all that can reasonably be expected until October. The industrial situation is exce,edingly uneven. More than a score of important industries show greater activity no.iv than last year. Others equally, or more important, show a volume of commodity movement from ten to fifty percent less than last year. Lumber conditions also are spotted and will, I think, remain so during the summer.- The South is better than the West: the North better than the South, and the hardwood industry in the North apparently in slightly b'etter shape than in the South, but no 6etter, ij as good as in the Appalachian territory.

"The forest products car-loading during the first five monhts ol 1924 are a little greater than the total volume during the same months of 1923. Manifestly the volume of lumber movem,ent has been greater than usual. Also the production has been'on a larger scale than usual during the past five years. Under similar circumstances hereto-fore it has always taken the lumber industry a period of several months to adjust total production to the broad movements in demand. The result is a relative scarcity of stocks during the early months of a broad lumber buying movement, and ordinarily a compensating increase in unsold stocks during the period of decline in general buying. It takes the lumber manufacturing industry between four

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Dependable DeliveriesGrades Without a Kick

COMPLETENESS thatts what we have.

White Pine, Douglas Fir, Redwood, Cedar and Redwood Shingles, Split Redwood Posts, Ties, Stakes, etc.