Dealer Opinion Indicates Slightly Inc reased Lumber Demand in Latter Part of L929

Limited Stock Survey Shows Decrease May I from January l,1929' Yard Inventodes.

.WASHINGTON, Sept. 13.-Two interesting surveys, neither complete, but one somewhat represeptativeof lumber yard stock conditions in certain territories -on May I, 1929,- and the other probably representative in some territories of dealer opinion respecting the expected lumber demand for the latter half of. 1929, have just been issued by the National Lumber Manufacturers Association. The firsl indicates that vard stocks, in the territories included, as a whole, werd, on May l, 1929, slightly below those shown by inventory at the beginning of the year. The second indicates a slight prospective increased demand of from 0.2 to 2.5 per cent during the latter part of the year over the sales of lur4ber through retail yards during the first six modths of the year.

The first comprises a survey of yard stocks made during the early summer by field representatives of the National Assoiiation. and covers inventories of about 260 yards distributed through Ohio, New Jersev, Indiana,- ^Illi- nois, Oklahoma and ealifornia as of January l, 1928, January t, t929, and May t, L929, respectively. A group of.233 yards in these states showed no substantial change between the first two dates, but a decrease of 2 per cent in stocks as of May 1; a second group of.252 mills showed an inventory incriase of 1 per cent on January l, 1929, over the same date a year previous, but a decrease of 6 per cent in the inventory four months later; a third group of Z0l mills did not give comparative percentages for the first two dates, but showed a decrease of 6 per cent in stocks during the first four months of this year; while a fourth group of. 253 mills, giving only annual inventory figures, tho*ed a decrease of. 2 per cent in stocks during 1928. In the first three sroups Oklahoma shows a sub- groups L926, In wKlanoma snows suustantial increase in stocks on May I and Ohio shows an increase around 3 per cent, while in the third group an increase of 5 per cent is recorded for Illinois. In the first two groups Illinois shows a minus 2 per cent. Only those in th1 fiist sroup save footage of lumber sold during Ciglp g..ave. footag"-^gf. ^ryTl^"r. 1928. These-233- mills bought 603,108,830 feet and sold 603,669,467 feet during the year.