Northrop, E. B.; Chittenden, H. A., Jr. (ed.) / The Wisconsin lumberman, devoted to the lumbering interests of the northwest
Hot facts for lumbermen. Our correspondent states facts and arguments worthy of particular attention--$5,000,000 losses to Michigan manufacturers alone--the state of the trade--losses on common lumber--forced sales of 3,000,000 feet daily at the Chicago market--the remedy for existing evils, pp. 355-356 PDF (684.9 KB)
17w Wisconmi NOT FACTS FOR LUNIERIEM. Our correspondent States Facts and Argu- ments Worthy of Particular Attention- su,ooo,ooo Losses to Mchgan Eanufc- turers Alone-The State of the Trade- Losses on Common Lumber-Forced Sales of S,OOo000 Feet Dally at the Chicago Market-The Remedy for ExIstIng Evis. Ceamspidcs of tae Wisconin Luhmu ath CHICAGO, July 11, 1874. No business can be conducted with comfort in this latitude with the mer- cury above 100° any place outside an ice-house; and the lumber trade least of all others, as actual labor constitutes so large a share of it. Logs once put afloat in a stream are sure to reach a market in the form of lumber, as neither drouths nor freshets, panics or prosperity, can prevent their onward march to the consumer. The log famine of the past winter has resulted in a full sup- ply, and the feast of lumber that is being sawed the present year bids fair to sicken some of the participants -not unto death, I fear, which, in a business sense, could but result in a great benefit to the general lumber trade. Time is the great adjuster of such matters, and there is reason to hope that some of the younger members or existing lumber firms may live to see sales of lumber again made in this market at a profit. The gradual decline in values since the financial troubles of 1873, ha caused much complaint in all depart ments of business, and but few house claim to have added materially to their assets. There seems, however a desire to curtail the operations o lare producers of most staple arti cle, and the result is a large reduc n Lumbermu 355 tion of indebtedness, and a better outlook for the future. What would have been the state of the iron mar- ket to-day had an increased amount of ore been forced upon the market? Clearly the result would have been forced sales of iron at a ruinous loss, and a cessation of business until the surplus stock was consumed. What would have been the condi- tion of the lumber market had each manufacturer reduced his product during the past winter instead of in- creasing it? No one can doubt that three-fourths the amount being mar- keted the present season would have been a full supply for the actual re- quirements of trade, and that a larger sum of money would have been re- ceived for that quantity than for the amount now being rushed upon the market. When lumber is sawed for forced sale, by cargo, afloat, by par- ties who cannot protect it, and the amount gradually increased, it be- comes simply a matter of time when a crash will come; and when from this cause the market is broken down, seldom recovers speedily. This over- stock is not confined to any locality, but extends throughout the whole lumber-producing section. A de- pressed market at all lumber centres 3attests this state of the trade, and I estimate a loss to Michigan manufac- 3turers alone of $5,000,000, caused by over-production, this sum being the - saving made of timber had a smaller quantity been marketed. The same state of trade may be looked for in 1875, and probably in f 1876, as there is too much sawing - capacity, and unfortunately too much - wealth, controlling it. There exists i. ii 1i'
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