The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-03-11

early in the year at time when the
market was advancing rapidly, and in ten
days after they were issued they were
obsolete
Borne Out BY Others.
Mr. 4dcElreaths assertion about the
present status of prices is fully borne out
by the great mass of the manufacturers
and wholesalers on this market, though
occasionally a buyer is founo on the bear
side of the market. For instance, j. c.
Tompkins the local representative of
Flint, Irving & Stoner, than whom there
is not a more reliable man in the busi-
ness, is inclined to think that quotations
have gone about as high as they dare go
without bringing about a break in the
market. THE association, quotations.
says he, have brought the market down
to such fine point that there is scared
ly margin enough for the buyer and the
seller TO get together on. The wholesaler
up north relies upon those figures as fur
I nishing him the correct market prices,
and he is not willing to pay a cent more
than they call for as they are already
as high as the market can stand On the
| other hand. the manufactures relying
upon the same figures as absolutely cor
rect, holds out for these figures and will
accept nothing else, though he sometimes
insists upon a higher figure, because
everybody is telling him that the market
is advancing. The result is that the buy
er down here can not get a margin to go
upon, and to that extent the trading
lags"
But these conditions are not worrying
the manufacturers for they have no
trouble in selling their stocks at associa-
tion prices, and where they meet a buyer
who insists upon having values they
stand pat, knowing that if one buyer
fails them there are plenty of others
waiting for the opportunity, and In this
knowledge they are never disappointed,
so far as your correspondent has been
able to ascertain. The condition of the
market was very well expressed by Mr..
T. NJ. Fuller, president of the Bogue
Homa Lumber company, who was iii Hat
| tiesburg a few days ago. and WHO upon
being asked if he had any trouble dis
posing of the output of his MILL replied:
'The goods sell themselves
Sold for Months Ahead.
feature of the trade situation which
the buyers have to contend against is
I the fact that a great many of the mills
are sold for months ahead at current
market quotations, and many more of
them would be sold ahead If they were
willing to accept the offers of the whole
salers. The larger mills which have a
regular, pay roll to meet and perha~s a
bonded Indebtedness to provide against
at fixed periods have In many cases avail
ed themselves of an arrangement of that
kind and it is the smaller mills, those
which can afford to take chance on the
rise or fall of the market that have de-
clined to enter into arrangements of that
character, preferring to await the rise
which they confidently anticipate. So far
they have lost nothing by their independ-
ence, and the future remains to be I'M
folded.
Now that the report Of the legislative
committee which investigated the alleg-
ed lumber trust in Mississippi has been
before the public long enough to have
been thoroughly considered and dgested,
1t can be said that the manufacturers OF
this territory are altogether pleased with
1t in general and in detail. Insofar as it
reaches the interests of the wholesalers
1t Is altogether favorable, and express
sions of commentator have been heard
on every hand.
The report is altogether commendatory
of the associations maintained by the
wholesalers, and 1t adopts verbatim the
language of Secretary w. c. Rodgers,
secretary of the Mississippi Bumbermens'
association, to describe the harmless, but
mittees, which at first appeared To be an
object of suspicion with the investiga-
tors.
1t directs that the state attorney general
shall institute proceedings to further test
the character of the agreements main-
tanned by the retail lumbermen of the
state having particular reference, no
doubt, to the Mississippi-Louisana Re
tail Lumber Dealers association.
1t suggests the application of higher
and more equal taxation on lumber man
ufacturers and dealers and on timber
lands.
! 1t favors the throwing open of the field
of investment in Mississippi so that the
larger operators in the lumber industry
may use all the capital and acquire all
the properties necessary to the profitable
and extensive development of their plans
of exploitation in Mississippi.
{ Expresses Manufacturers Views.
The sentiments Of the manufacturers