The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-12
Current Market Conditions


/ Other than a slight accumulation of
the seasonal 1u1l, conditions in lumber
icircles remain as heretofore. An
| important element of the buyers, with
current needs no longer heavy, again
have become Indifferent toward the
market, and have placed the matter
of purchases largely upon the calen-
dar of next years business. This at
titude, in addition to actually les
sened requirements, is due to the an
nual inventory seasonal period
characterized by a moderate volume
of business even in time when all
conditions are favorable-and to the
| feeling of uncertainty as to the per-
manency of present freight rates. In
official utterances and acts, notably
| the general rate hearing scheduled to
begin December il, shippers see what
| they consider preparations for sweep
| ing readjustments and it is only nat
ural that the desire to be in position
to effect a possible saving in trans
portation costs should check ship
ments of bulky commodities designed
for future use.
During the past week the southern
usual degree of activity, as orders
and production were considerably be-
low the level of the preceding period
Weather conditions have begun to
interfere with operations, with the
prospect that production will be re-
stricted by this cause for the next
several months. A surprisingly heavy
percentage of the business passing
emanates from the south itself, where
the builders contemplate no cessation
of activity unless the winter season
be one of unusual severity. Demand
from retailers of the north progress
sively is becoming weaker and doubt
less will continue to do so until the
time to buy for the needs Of the next
year arrives. The oil industry again
has assumed the role of an important
customer; this demand, however, af-
fecting principally mills of the south
west. Despite the uncertain situation
in foreign markets a comfortable vol
ume of material is finding its way
into export channels. Prices remain
at about the same levels as heretofore
reported, and. although one or two
items developed slight elements of
weakness during the past week. their
values have not succumbed to the in
fluence Of a lessened demand.
Several factors have combined to
create an uneven situation in the
North Carolina pine market, the prin-
cipal of these being, of course, the
season., with broken mill stocks also
having marked effect upon the situ-
alton. The lu1l in demand is welcomed
the manufacturers as an opportunity
to place their stocks in position to
supply the needs of their regular Gus
toners, and a number OF producers
assert that their own yards easily
could absorb the entire output for the
remainder of the year. Practically all
the manufacturers are oversold on
staple items. with the bulk Of supplies
on hand consisting Of lower class ma
terial for which demand even in nor
NAL times, is only moderate. Prices Of
rough lumber remain at levels re-
ported last week, while a few slight
advances in those Of dressed material
have occurred during the past seven
days.
While hardwood buyers are not
seeking stocks with the eagerness dis
played two weeks ago, nevertheless
demand still possesses sufficient
strength to assure a ready outlet for
the better grades without impairment
OF prices. The approach Of the inven-
tory season naturally viii have a ten
dency to slow I'D business during the
remainder of the month. but that this
condition win be Of short duration is
proven BY a willingness to place or
ders for January delivery at present
prices. This proposition does not find
general favar among the manufacture