The Montgomery advertiser., 1909-05-17

Nashville, Tenn, May 16.--fSpecial.l
The Southern Lumberman says:
Every mill man who Is a member
of the yellow pine association, has
been receiving for the past twenty days
a daily report OF the cut and shipment
OF about 1856 Of the association mills
He knows what the situation Is. He
has 1t put before him every morning
in figures that can be taken In at q
glance. Probably the reports as yet
cover less than one-ffth Of the mills
cutting yellow pine. but they are from
the larger mills, and are SUFFICIENT 70
show the present drift and the inevi-
table consequences.
Whether the manufacturer who gets
these reports. Will realize the situation.
and viii govern himself accordingly
and thereby save himself while con-
tributing to save the general situation
remains to be seen. 1t will be seen In
the next very few weeks. The pres
emit excess of production of yellow pine
must stop. II 1t Is not stopped volun-
tarily II will be stopped involuntarily--
through involuntary bankruptcy of
many concerns.
There. is no use In trying to veirthe
real facts or in speaking guarded words
In gentle whispers. The production OF
yellow pine lumber must be diminish
ed--heavily dininlshed. There has
never been time in the history of the
business when Immediate and decisive
action was so imperative.
1T 10 up to the individual mill oper-
ator. He has to choose. II strong
financially he has to consider only
what will be his greater loss. to shut
down and lose his organization of crew
and business. but save his timber; or
to run and swallow his loss (of which
the stumpage will be only part), but
be ready for quick action when the
turn comes. 1t Is question of the
mans temperament and his ideas of
the future. as to when the turn viii
come
Every man will prefer 10 run at a
loss for certain time rather than dis
rupt his organization, II reasonably as
sured of the hriefness of the interval.
Is there any assurance ahead of the
briefness of the term during which
yellow pine lumber will be rhanufac-
tured atsan absolute loss, II the pres
emit production 10 continued? With the
experience of the past eighteen months
OF the extreme slowness with which
all business has expanded since the
panic. 10 there the slightest hope that
there will be an increase in yellow
pine consumption more than a proper
tionate Of what has occurred?
THE answer must be an emphatic no
to, both questions. There Il not the
remotesti hope that consumption car
overtake the progressive excess OF pro.
duction as shown by these daily re.
ports at any time within the period
when lumber cut now win be rotten or
the sticks.
Does any man believe that further
fall of price will stimulate a single
sale that would uof 9TH eruisa he IN a n ID
All experience shows exactly the con.
trary Is the case. Every quotation
sent out at a further cut, Is another
step toward making bad matter
worse, and the quotation sent out by, 9
mill cutting $4,000 feet per day is JUS
as hurtful as that from a concern cut.
ting 10000 feet per day., 1t is this
figures that hurt The amount of lum.
Der involved is not thought Of. Every
such quotation marks q downward steI
and Its effect practically reaches owe
the whole field of consumption.
These are the considerations tina
should impel every operator to act, ant
TO act quickly in the curtailment OF hi
output. We have spoken only of thos'
| considerations that present themselves
| to the operator who Is financiall.
strong. and can continue to operate l
he thinks It Is good business to oper
ate. To the other, the operator VIII
| owes heavy debts, there Is one othe
| consideration. 1t is the creditor. VIVA
| is his status Aand- best interest? Sup
pose the question to be put clearly u
/ to- G5iif Wh6se, .sscufftx Is being de
pfetedgp = Nose &Fospect of ultimat
repayment In fun With interest is be
| ing jeopardized? The situation of tn
mill in debt is identical with. that Q
I