California Comes Back

The lumber market in California har been very, wery dow for rome time, it's a fact, but already Cdifornia is "coming back" and the eun is beginning to chine through the cloud'r of sluggish demarril.

Don't wony about the California lumber market!

It might well be raid about California what J. P. Morgan raid about the United Statec: "The man who ir a bear on THIS COUNTRY is on t{re.WRONG SIDE OF THE MARKET.''

And the man who is a bear on the Cdifornia lumber market ir surely on the wrong ride of the market.

The California lumber market war cimply ruffering temporarily with "over-feedingf'; it rvas biliour, ar it wcre.

Perhapa it was treveling too fast anyway. Everyone was trying to crowd lumber into Califormq and they were pLay. ing that gane ro rtrong ttat when a little reaction Garne, lumber piled up on the doclc so fart that it rcered the trade into 6ta, and rAey hunted cover.

But it war jurt the LUMBER market that war slow.

The BUILDING buriner ryas all right. The dealers generally kept right on aelling lotr of rtock, but they were afraid to buy.

That condition wan not eupriaing, but it couldn't last long, becaure all the time good old California was licking up the material in enormour gobr, and the buying had to $art. It HAS darted, and there ir a mighty good fqll in prorpect.

If the effect of the rum,rner ret-beck ir to wata people not to overload California too greatly, and not to let lumber pricer get too high, it will have been all for the bect, becaule no one har been redly hurt

In Lor Angeler, on the night of tte elen'enttr, the permita wer'e well over $8r(X)O,O(X).(X); pointing to a greater total than for tbe month of July. Elsewhere in thic iuue there ir a report on tte building activitier in the Bay Dirtrict' with rcme figrrer ttat argue for a continuance of tfie building program in ttat rection of tte ctate.

Sen

At San Pedro, up to the night of tbe thirteenth, 59 boatr had docked, carrying a total of TOTOOOTOOOTOOO feet of 6r and redwood.

The fir millr reporting to the Wect Coast Lurnberrnentc Association show two weeks totals ar followc: 131 rnilb report a production of 1O5r0OOr00O feet and their sdct for the period ran 96,0OO'(X)O feet in round nurnbers. It has been reported that the rail ordere in the Northwett is in much better rhape than for rome weekr past, that tte looked for Fall business in thir line ha.r already ctarted. In California, cargo shipmetts are 6ndi-g more favor with the dealer than they did two weekr ago. Common.it bringing better prices. Lath have dropped from fiftecn centr to twenty-five cents a thourand, with the rhipmcntr lighter.

During the furt ten days in Augurt, 31 cargoes carrving 2l,184rOOO board feet of Dowlas fir and Redwood lumbcr arrived in San Francisco harbor. Approximately 25Vo, of thir total was Rcdwood.

Cargo rhipmenb for Aqust are showing e material gain over July rbipmentr, and if the prerent rate of cargo arrivaL ir maintained during the month, the August rhipmcntr rhould exceed the July rhipmentr by l5'OOO'fi)O board fect

Regarding the rail market in San Frencirco: Wholeralcrr and mill representativct are feeling more optimistic ov€r the future outlook and report that the dernand' har rhown conriderable improvemcnt over t'hree or four weckl ago.

The Southern Pine Aeaociation membert rePort for the pest two weekr a production of 78'(XX)'OOO, rder 64r(XX)'O0O feet and ahipmentr 74,O(X)'0(X) feeL

In Celifonria again, tte Redwood mills have increercd their raler over tte week'r previour period, over fuVo, rhowing total nles for tte week of 919061000 fed, end production of 11,134 feet. Thir bringr the Redwood rnillr raler for rhis week about 3O7o over their normal production' Up to August 4th the C.tifqnia Redwood Areocia$on memberu have cut 28818261000 feet and their new burinerc har run 292,88210/l,0 feet.