How Lumber Looks

Buyers of Iumber in California are expecting a rteadying Operating reportr from both the Southern Pine and in prices within the next 3O days. Douglar fir regionr show that production is erceeding de-

Ar a matter of fac{, looking back for a period of 3O dayr, mand by eubstantial margins. This is a situation that har the market har steadied, perceptibly. prevailed for the lart five or six weekr, and if continued

A,s one rhrewd buyer expre$ed it, ,.It would be much for another three or four weekr is certain to have its efiect earier to force the market down a dollar than up a dollar." on the general market'

With pouibly a few erceptionr priceo have not drength- For the lact week reported by the fir millr, production ened cince the firrt of last month. In rome particulare, in exceeded orderr by nearly 20'000'000 feet; the week be' fact, there har been a rlight weakening-1ot a decline in fore, the excelt was 610001000 feet; the average for four pricer, exactly, but at the same time a tendency in that weekr har been in the neighborhood of 1O1000,000 feet. direction. This is said to be true particuLarly of green Southern Pine orders have been running behind produccleara and certain other upper grader. tion for a longer period than in fir. This ie due, o&courrc,

On the other hand rome vertical grain atock and mort to tte fact that the South always feels a change in the gen' commonE have strengthened, slightly. Dimenrion ir rtronger eral market m'ch quicker than the west' The lart available at california ports right now than 60 days ago, but neither figures fronr the southern Pine millr show the weekly cut buyers nor rellers look for subctantial advancer. to be more than 25t00oto0o feet ahead of new busine$' The excdrr hac be€n running in the neighborhood of lor- Dealers recently have noticed the apparently abnorrnal ooorooo feet a week for the last two months. spread between commona and clears and for that rearon In ore lart two weeks southern pine demand has been expected clears to drop toward their accustomed level. --But it ir untikety that the former difierentiab ever wilt be main- stocks' and rome tained again. The reason ir that the proportion of clearr If this condition keepr up, prices may decline. obtained by the mills congtantly is growing smaller, rimply

But the Atlantic coart is buying tremendoue volumer of becauge most of the best timber has been cut away and tbe lumber and making up for the lack of demand in the Middle prerent and future "run of the log" will offer a greater wert. If the railroad etrike is settled the railroads may get percentage of common lumber' back into the market this fall, which will have a etrengthen-

So, derpite even the mort violent fuctuationr that the ing efiect. market may henceforth experience, upper grader probably

The redwood market remains in a good, healthy condinever will reach their previour low levels. tion. The demand ir rteady and milla are r'nning to full

Present market conditionr are due to reveral factorr: capacity to eatbfy it. firrt, the exceedingly heavy demand throughout California

Lath are more plentiful throughout California and the this year has nm dealers rhornt of stockr and they have market har cagged 4ightly in the last two weekr. Lath are been in a ecramble to replenirhl next, the car rhortage in the cheaper now than they were the first of last month. Northwest har made it hard to get well assorted grader and Shingler are firm, with no change in market quotationr giz6. Within another 3O dayr, it ir apparent, dealerr who in the lart fortnight. have been rhort will be better rupplied, and whether the car cituation improver or not, they probably will not be ro keen to get immediate shipments.

Reports from the Northwest indicate that the car rupply is easier now than a month ago. At competitive pointr manufacturerr generally are getting all the cars they need. Millr located off the main line railroada and at non-cornpetitive pointr are reporting a harder car situation.

But back of all the prerent market rymptomr ir the important element of eupply and demand. That will bear gndyrir for a moment.

SEPTEMBER, BIG BUII.DINC MOIflTH

San Francisco, Oakland and Los Angeles report the customary volume of builcling for September.

In Los Angeles the permits for the first 26 days aggregated $8,600,000 in value for 3,656 separate structures. At this rate the total for the month will be in excess of $10,000,000.

San Francisco is expected to run well over $6,000,000 and Oakland over $3,000,000.