Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-19
LUMBER PRICES
MUST GO HIGHER
Building Boom and Diminish
ing Supply Responsible,
Dealer Says.

Lumber prices have hit the bottom and
cannot be expected to fall lower than
they are at present is the opinion ex-
pressed by Forest A. Hill, president OF
the Speedway Lumber Company. In
fact he says that any changes In prices
necessarily must be upward in view OF
the record breaking amount OF building
now under way in Indianapolis Speaking
of the situation, Mr.. Hill said:
1.-The Speedway Lumber Company Is
still enjoying the same degree OF pros
perity that 1t has enjoyed In the weeks
past. Most of our business consists OF
small homes erected by the future &C.
cupants and by several building COM
panies who are selling homes on the easy
installment plan. In fact we never ex-
perienced such a great year before.
prices are a little higher than year
ago, but we have noted an increase IN
business rather than a tendency toward
curtatilment The public is wis" in build
ing now. Costs of operation naVe de-
creased in all lines appreciably. But they
cannot be reduced to prewar Levels ana
we must abandon all hopes OF denatlng
the value Of our stocks when such de-
dation must come through wage reduc-
lions both on the part OF manufacturers
and ourselves. At this time there must
be universal cooperation between EN-
ployer and employe and the harmoniZlng
Influences Of settled convictions in the
minds Of our people that the greatest re-
sources Of the greatest country on earth
cansonly be made to yield prontaole re-
turn on the investment OF hard WORK
and money by downright industry and
honest effort.
linn
manufacturer during the past week. 1t
is not our purpose to assume the role OF
prophet as to what may happen to lum-
Der prices hereafter so much as 1t Is to
promote ideas that are based on substan-
tial facts, reinforced by certain funda-
mental conditions that cannot be care
lessly omitted for whatever of considera-
ton we must give to the important sub
ject Of market conditions. In expressing
our opinions, we must not he swayed
by our prejudices. II is our best tudg-
ment that we shall witness a steady I'm
provement in business conditions gener-
ally in all lines and that we shall hnally
reach the pinnacle of prices gradually
rather than by sudden impulses. The
elimination Of elements that have hereto
fore entered largely into price elevations
has come about through the fear Of spec
Der and the unwillingness OF the manu-
facturers of lumber TO permit these ele-
ments to place larger orders for future
shipments. Lumber has accordingly
been sold during the past two months
to the natural distributing factors or to
the larger consumers direct. thus avoid
ing an unwelcome situation that has too
frequently been brought about by specu-
lative buying. Home building, following
a perfectly natural demand for domiciles
for thousands of homeless people; indus
trial expansion and the need for better
facilities for our great industries; car
material for much needed material for our
railroads and sundry other demands for
lumber for repair work, boxing, Grating,
and the like, will all contribute toward
utilizing all the lumber that can be made
available for use the remaining months
Of the year Stocks on hand at all mill
sources Of supply have been reduced to
the point where there remains only ce-
pleted stocks of lumber ready for tmme-
diate requirements"