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Extracts have been taken from many of the leading trade journals.

Not only have several trade papers been used, but news items from

various cities have been selected. The fact that several different

trade papers give an account of an action of some association, and

that the news items from various cities will refer to the action and

for several weeks or months will comment on its effect, adds to the

credibility of the extracts.


Chicago— American Lumberman, March 9, 1901. page SS.—lt is said that some of the manufacturers have
latelyissued lists quoting piece stuff at $9.50 at the mill. Others are said to be holding their stocks higher
than that, but it is not certain that much is being sold.

Association price list Issued, effective March 12, 1901.

Chicago— American Lumberman, March 18, 1901, page 76.— The prices established at the recent meeting
cannot be regarded as high, being based on $9.50 on 12 and 14-foot piece stuff and $10 for 16-foot f. o. b. mill;
and many manufacturers claim that they are able to get these prices without difficulty.

Chicago— American Lumberman, March 88, 1901, page ^8.— While the prices fixed by northern manufac-
turers were $9.50 for 12 and 14-foot and $10 for 16-foot, there is still some shading, although a majority of the
association people are holding firm at the list and are selling considerable.

Association price list Issued, effective June 1, 1901.

Chicago— American Lumberman, June 8, 1901, page #8.— An advance, effective June 1, has been made by
the Northwestern Hemlock Manufacturers' Association, which tends to show that the manufacturers have
confidence in the future of their product, and also that they are having a somewhat better trade than would
be indicated in the local dealings. The reports from the Wisconsin mill men are generally to the effect
that their trade is active and they believe that the slightly advanced prices will be easily maintained.

Association price list Issued, effective Aug. 5, 1901.

Milwaukee— American Lumberman, August 10, 1901, page S2 .— The meeting of the Northwestern Hemlock
Manulacturers' Association held at the club rooms of the Plankinton House, Milwaukee, Wis., on last
Monday, was attended by a fairly representative number of the manufacturers; also by a committee of
three from the meeting of the price list committee of the Mississippi Valley Lumbermen's Association at
Wausau on the preceding Saturday, who reported an advance of 50 cents to $1 upon the white pine price

25030°— 14 43


list and urged the hemlock people to take similar action. After considerable discussion of the influence
of crop prospects and of the labor strikes upon the general situation and their probable influence upon
lumber m general and upon hemlock products in particular the meeting decided upon a conservative
course of action and confined the advance to those portions of the stock list which were in most short supply
and general demand, also making an advance of 50 cents upon timbers 4x4 inches and larger in all lengths.
[The price list is given in this issue.]

Chicago— American Lumberman, August 17, 1901, page 41.— Wisconsin manufacturers report a good trade
and that they are getting list prices for the bulk of their shipments.

Chicago— American Lumberman, December 7, 1901, page ^.—Northern shippers state that they are getting
somewhat better prices on mixed car orders. In fact, many of them holding firm at the list.

Association price list Issued, effective December 26, 1901.


Chicago — American Lumberman, January 4, 1902, page 46— Ks indicative of the growing confidence in
hemlock the Wisconsin manufacturers have just advanced their prices onpiece stun and boards 50 cents
and SI, although one or two items of long piece stuff are advanced $1.50. The new list it is said represents
very closely actual selling prices.

Association price list Issued, effective February 5, 1902

Milwaukee — American Lumberman, February 8, 190%, page 46. — What its producers think about the
strength of the Wisconsin hemlock market is shown by the action at Milwaukee this week when prices on
nearly all items in the list were advanced SI, and, on the remainder, 50 cents; the latter being chiefly con-
fined to short lengths and piece stuff under 16 feet. * * * The Michigan producers had a meeting in
Detroit and reaffirmed the old list which amounted to a substantial advance over the prices that have
been made up to a recent time, inasmuch as the list has been virtually suspended. It is asserted that the
list prices are being generally secured. This western situation is pleasing to those Pennsylvania producers
who find their natural market in the western part of that State and in Western New York and eastern
Ohio. They have been complaining for months that they were being undersold in their own territory by
the western people, but these complaints have been less frequent of late and now have largely disappeared.

Association price list issued, effective March 31, 1902.

Chicago — American Lumberman, July 6, 1908, page 49- — Michigan manufacturers have lately sent out
lists making an advance of 50 cents on short piece stuff, which is a comparatively scarce item and in excellent

Chicago — American Lumberman, August 2, 1902, page 60. — The recently advanced prices on hemlock have
served rather to stimulate the demand than otherwise, as buyers are taking it freely and there is no com-
plaint as to the better quotations.

Association price list issued, effective August 20, 1902.


Association price list issued, effective February 10, 1903.

Chicago — American Lumberman, February 1 4, 1903, page 63. — Wisconsin manufacturers established prices
at their meeting at Milwaukee this week, basing piece stuff on $13 f. 0. b. Wausau.

Milwaukee, wis., February 10. — The annual meeting of the Northwestern Hemlock Manufacturers'
Association was held at Hotel Pflster in this city to-day. * * *

The report of the price list committee was called for and through its chairman, B . F . McMillan, it reported
as follows:

We, your price list committee, have adopted the following prices for your consideration, together with
the appended resolution:

We recommend that the list of August 27 be adopted with the exception of the following items: 2x4,
2 x 6, 2 x 8 and 2 x 10 — 16-feet long shall be raised 50 cents a thousand, making 2x4 $13, 2x6 $12.50 and
the same price for 2 x 8 and 2 x 10 in 16-foot lengths; $12 for 2 x 10—12 and 14 feet long; that the price of
hemlock lath be reduced to $2.75 from the former price of S3. (American Lumberman, Feb. 14. , 1903, p. 24.)

Chicago — American Lumberman, March 21, 190S, page 68.— Prices seem to be gradually firming up to the
list adopted February 10, and some of the manufacturers say that they are getting the full list prices on
most ofthe stock that they sell, while others are still complaining of hard competition.

Oshkosh, Wis.— American Lumberman, March 28, 1903, page 40.— Following the adjournment of the Wis-
consin Hardwood Lumbermen's Association the executive committee of the Northwestern Hemlock
Manufacturers' Association met and adopted the following revised price list: Official Price List of the Hem-
lock Manufacturers' Association. Revised February 10, 1903. Effective March 30, 1903. [Prices follow.]

Association price list Issued, effective March 80, 1903.

_ Chicago— American Lumberman, April 4, 1903, page S3.— Confidence in the stability of hemlock quota-
tions has been reinforced recently by last weeks' action of the Wisconsin manufacturers, who reestablished
prices, which had been to some extent uneven during the winter. The new prices are about 50 cents above
those adopted last August for 12 and 14-foot piece stuff and $1 above for 16-foot stock, while other prices are
not materially changed.

Association price list Issued, effective June 9, 1903.

Chicago— American Lumberman, A ugust 8, 190S, page £4.— Northern interior manufacturers say that they
are getting close to list prices for all that they sell, and that in many instances the full list is paid without
a murmur, ranging from $13.50 to $14 for the ordinary sizes of short piece stuff in carload lots delivered on a
Chicago rate.

Association price list issued, effective August 28, 1903.

American Lumberman, September 6, 1903, page 47.— At the meeting of the Northwestern Hemlock Manu-
facturers' Association held at Milwaukee, on Thursday of last week, as reported in our issue of August
29,oneof,ifnotthechief,subjectsunderdiscussionwastheadoptionofapricelistforthefalltrade. * * *

Chairman B. F. McMillan of the price list committee made a report recommending the adoption of the
existing list as it stood, and supplemented this report with his individual opinion that if anythingsome
articles should be advanced. After a thorough airing of the question from the viewpoints of the different


manufacturers, it was decided to raise the price 50 cents a thousand on 2-inch piece stuff 20-foot and longer;
3-inch piece stun 18 feet long and all 3-inch and thicker above 18 foot, as also 16-foot common boards shiplap.
Wegive below the revised list which went into effect August 28. [List follows.]

Chicago— American Lumberman, November 14, 190S, page 67.— Shippers who handle directly from the
mills claim that they can occasionally get a shave off of prices of about 50 cents a thousand, but the list as a
whole is well sustained.


Association price list issued, effective January 19, 1904.

Milwaukee, Wis., February 4.— The new hemlock manufacturers' selling organization, composed largely
of members of the Northwestern Hemlock Manufacturers' Association, which embraces the bulk of the
product of the mills of Wisconsin and northern Michigan, is an assured thing. After several conferences
which were held during the past two months, the scheme focused is the result of an all-day session at the
Hotel Pfister to-day. During this session stock subscriptions were accomplished to the amount required
and officers were electedj whose duties it will be to navigate this new selling organization.

The new corporation is called the Hemlock Company, articles of incorporation of which were filed at
Madison on January 29 and Milwaukee on the 30, signed by B. F. McMillan, John R. Davis and B.
neinemann. The company is capitalized at $100,000, divided into 2,000 shares of S50 each.

It is understood that the organization of the company is on very much the same lines as the recently
organized Western Fir Manufacturers' Company, and the purposes for which the corporation is organized
asset forth in the articles of the incorporation, are to purchase or otherwise acquire, to sell or otherwise dis-
pose of and deal in timber of all kinds; to manufacture purchase or otherwise acquire, to sell or otherwise
dispose of and deal in lumber of all kinds; to engage in the manufacture or production of and to deal in any
material or products which may be used in or in connection with the manufacture of lumber or any product
or article manufactured therefrom; to purchase or otherwise acquire, lease, mortage, sell or otherwise dispose
of any and all real estate and any and all personal property necessary or proper for manufacturing plants
or for the purposes hereinbefore set forth, and to do and perform all other acts necessary or proper or inci-
dental to the aforesaid business or the carrying out of the objects and purposes of thiscorporation. (Ameri-
can Lumberman, Feb. 6, 1904, p. 57.)

Chicago— American Lumberman, April 16, 1904, page OT.— Prices are scarcely up to the association list,
but are being held in line quite well and promise to be stiffer when trade shall reach a full volume.

Association price list issued, effective June 15, 1904.
Association price list Issued, effective July 1, 1904.
Association price list issued, effective September 20, 1904.

American Lumberman, September %4, 1904, page 19.— Probably no man in Wisconsin is better informed
in respect to the production and marketing of hemlock in that State than is A. L. Osborn, manager of the
Hemlock Company, whose headquarters are in Oshkosh. In a late conversation in the office of the Ameri-
can Lumberman Mr. Osborn reviewed the situation at some length. * * *

As to prices the Hemlock Company's stock, which comprises that of the majority of the larger and better
mills, is being sold at regular and uniform figures. It is well manufactured, is dry and can be furnished
in any desirable assortment. Being in strong hands, altogether there is a good and substantial basis for
the maintenance of uniform prices.

In Mr. Osborn 's opinion a concession of 50 cents a thousand is all that is being made on the mass of stocks
in Wisconsin, which may be regarded as a practical maintenance of the list. There may be instances in
which some of the smaller operators are cutting prices to a greater extent than that indicated but such
isolated and unimportant cases have but little effect on the general market.

Chicago— American Lumberman, October 1, 1904, page M.— Prices are being well maintained at the list
recently put into effect.

Association price list Issued, effective November 14, 1904.


Association price list issued, effective January 17, 1905.
Association price list Issued, effective March 1, 1905.

American Lumberman, March 4, 1905, page 84.— At a meeting of the price list committee of the North-
western Hemlock Manufacturers' Association, held at the Hotel Pfister, Milwaukee, Wis., on Wednesday
last, it was recommended that prices on all items excepting 3-inch plank, timbers and 4 and 6-inch No. 1
strips, be advanced 50 cents a thousand feet, to go into effect at once.

Association price list Issued, effective May 12, 1905.

Merrill, Wis.— American Lumberman, May IS, 1905. page 65.— As a result of the conference between
the price list committees of the Wisconsin Vallev and the Mississippi Valley Lumbermen's Associations,
held in Milwaukee last Monday, new price lists are in the hands of the printers. The lists are dated May 8.
A general advance of from 50 cents to $1 a thousand is made. On the better grades of lumber the price
is increased above those proportions. , . .„ ,

Milwaukee— New York Lumber Trade Journal, May 15, 1905, page 11.— The price list committee of
the Mississippi Valley Lumbermen's Association, the Wisconsin Valley Lumbermen's Association, and
the Northwestern Hemlock Association has agreed to advance the prices on ail classes of lumber 50 cents
per 1,000 feet. ± . ,,

Chicago—American Lumberman, May 17, 1905, page 71.— The recent advance of 50 cents is well main-
tained, some dealers stating that list prices are more nearly uniform in this territory.

Association price list Issued, effective August 12, 1905.

North Tonawanda, N. Y.— American Lumberman, August 19, 1905, page 68— A continuation of the
strong demand has resulted in another advance of 50 cents on Michigan during the week. Some dealers
have already booked so many orders that they are expressing doubts as to being able to fill them this
season. The greater part of the stock handled is consumed in this state, being shipped mostly by canal.

Chicago— American Lumberman, September S, 1905.— Prices are firmer, the August 11 list being followed
as closely as is found possible.



Association price list issued, effective September 6, 1905.

Milwaukee— American Lumberman, September 9, 1905.— The Northwestern Hemlock Manufacturers'
Association met Tuesday of this week for its semiannual meeting and advanced the price on all grades
of hemlock 50 cents. The advance was made in conformity to trade conditions as they exist in the opinion
of the hemlock dealers.

Chicago— American Lumberman, September 23, 1905, page 62. — Manufacturers have gradually advanced
and maintained their figures, and another advance was made September 5, making a basis of $14 for 12 and
14-foot and $16 for 16-foot dimension f. o. b. Wausau, Wis.

Association price list Issued, effective October 4, 1905.
Association price list issued, effective December 28, 1905.


Chicago— American Lumberman, January 6 : 1906, page 06.— Manufacturers along the Lakes are now
getting from $13 to $13.50 for piece stuff at their mill points. Individual manufacturers have reported an
advance of 82 on 22-foot and longer piece stuff and $1.50 on 10-inch boards and their products, with a like
advance on No. 3 piece stuff. These advances have been lately given official recognition by the association

Chicago — American Lumberman, January 20, 1906, page 68.— The recently issued price list is generally
accepted as representing the current market.

Association price list issued, effective January 30, 1906.

Chicago— American Lumberman, February 10, 1906, page 77.— Trade in hemlock products has never been
quite so good in this territory at this time of the year aa now. Certainly prices have never been higher,
as the recently adopted list made short piece stuff $17.50 Chicago delivery and other items in proportion.

Minneapolis — West Coast Lumberman, February, 1906, page SIS. — The Hemlock Association met in Mil-
waukee. January 30 and raised their list $1 a thousand all the way along. All stocks have been badly
broken into, and the year starts off as though there would be no cessation m demand. Manufacturers feel
absolutely independent, and it is only a question of how far it is prudent to go in making advances.

Association price list Issued, effective March 16, 1906.

Minneapolis — Mississippi Valley Lumberman, March 28, 1906, page 84. — Manufacturers are turning down
most orders in order to maintain their stocks for such trade as will not break them. There are offerings of
items on which holders happen to be long, but nothing; is sold under the list. * * *

Advances were recommended last Friday by the price list committee of the Northern Hemlock Manu-
facturers' Association. The advance had already been made by the published individual list of manu-
facturers and this action of the committee was merely placing the official list in conformity with the market.

Minneapolis — Mississippi Valley Lumberman, March SO, 1906. — The advance in prices of two weeks ago
has not served to quiet the demand. The market had reached the new list before it was recommended.

Chicago — Mississippi Valley Lumberman, June 22, 1906. — Hemlock remains an active seller and devia-
tions from the prices are reported by large buyers, who are securing 50 cents and sometimes 75 cents

Minneapolis— Mississippi Valley Lumberman, July 27, 1906.— The shortage in all other kinds of lumber
which comes in competition with hemlock has spread a very strong bull feeling among manufacturers of
that lumber and they are disposed to value their product at even stronger figures than given in the last price

Minneapolis — Mississippi Valley Lumberman, September 21, 1906. — The firm prices and the shortage in
all kinds of other lumber has served to maintain the manufacturers in holding their product for list figures
and now that the trade realizes that there is nothing in the situation to warrant a reduction in prices on
hemlock it is beginning to place orders on the list bases.

Chicago — Mississippi Valley Lumberman, November 9, 1906, page 35. — Hemlock is selling at irregular
prices, reductions of 50 cents to $1 being made on occasional sales of carloads. Why any shading of prices
should be made, with the demand large and the supply no heavier than it is possible to work off between
now and spring, is one of the peculiar features of the market.

Chicago — Mississippi Valley Lumberman, November 30, 1906, page 84. — Hemlock in the Chicago market
is having a good sale and there is a firmer feeling in the market. There was no necessity for the recent
cutting of prices and manufacturers and wholesalers, both in the Chioago market and at the other points,
are beginning to discover it.

Broughton standard price list issued, revised December 20, 1906.

Minneapolis— Mississippi Valley Lumberman, December 28, 1906, page 85.— The advance as announced
in these reports last week materialized this week when manufacturers commenced issuing lists advancing
all items $1.


Minneapolis— Mississippi Valley Lumberman, January 4, 1907, page 85.— The developments in the hem-
lock trade during the past week substantiate the advance in that product which materialized a week ago.
There was some strong buying during the past five days in the hope of securing stock before the advance
took effect, showing that the buyers were not withholding themselves from the market because they were
well supplied with stock. * * * Prices are well sustained and the advances upon the old baas well

Chicago— American Lumberman, January 12, 1907, page 88.— The hemlock list was advanced December
20 $1 a thousand, but prices here have not varied perceptibly, except that manufacturers and wholesalers
are a little firmer in their ideas regarding prices. The going figures are about 75 cents off the old list,

Broughton standard price list issued, revised January 15, 1907.

Chicago— American Lumberman, January 19, 1907, page 78.— It is a little difficult to say just what the price
of hemlock is in this market. A new list was made effective December 20 which advanced prices on allitems
$1 a thousand feet, but the advance has had no perceptible effect on the going price of lumber. Eight now
it appears to be a question of how badly the buyer wants the stock, as prices range from $1 to $2 off the new
list. This does not mean that there has been a slump in hemlock values from those obtaining last month,


but rather an increase as the going prices in December went about 75 cents off the old list, which would be
$1.75 below the schedule now in force.

Chicago— American Lumberman, January 26, 1907, page 88.— Values range from $1 to $2 off the new list,
and at these figures buyers are placing a considerable amount of business.

Chicago— American Lumberman, February 2, 1907, page 81,.— Prices are reported to be somewhat stronger
and are practically at the old list, bringing them about $1 a thousand under the list now in effect.

Chicago— American Lumberman, February 16, 1907, page 88.— Prices are about the same as they have been
since the first ol the year, though if anything they are a little firmer. The bulk of the orders now being
taken are upon the basis of about a dollar below the list of January 15. This would bring them to the prior
list and shows an increase of about 75 cents since the new list went into effect.

Chicago— American Lumberman, March 2, 1907, page 80.— No decided change in prices has occurred, but
the tendency is toward firmness. The prices range from 50 cents to. 75 cents off the last list.

Broughton standard price list Issued, revised March 16, 1907.

Chicago— American Lumberman, March SO, 1907.— The March 16 list, which advanced the price on all
hemlock items SI a thousand, is being fairly well lived up to, the basic price being about 50 cents off.

Chicago— A merican Lumberman, A pril 6, 1907.— The demand for hemlock this week is fully up to the aver-
age of the last thirty days and prices are at the high point. The going figures now are about 50 cents off the
last list.

Minneapolis— Mississippi Valley Lumberman, April 19, 1907, page 85.— The statement in last week's
report to the effect that a quotation of SI. 25 off list had been made by a certain concern, has in some quar-
ters been taken up in the wrong way, due to a superficial and not thorough reading of the article. That
any company should make so large a concession, underpresent conditions is absurd. The intention of the
statement was to bring out the absurdity of the report. On some items, fifty cents off is being given, but the
majority are firm at list.

Minneapolis— Mississippi Valley Lumberman, April 26, 1907.— A great many sales have been made at
list, and tne largest concession made by local wholesalers to the retail trade is fifty cents off. There have
been rumors of more strenuous price cutting but investigation finds no foundation for such reports. There
is no reason why hemlock values should not be maintained strictly at list.

Minneapolis — Mississippi Valley Lumberman, May 10, 1907. — Hemlock is strong, many wholesalers hold-
ing firmly at list, while the greatest concession is not more than fifty cents off. Instances have been reported

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