Columbia University Libraries Digital Collections: The Real Estate Record

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July 26. 1884 The Record and Guide. 791 greater, under the dozens of contingencies that through, well, say forget fulness, are never mentioned for publication. About the top rates named for ihe bulB of the business are $6.35 on Haverstraws, S5.6iJ^ on Up Rivers and $6.25 lor Jerseys. Esceptional sales have prubably been made higher during the week. The meeting of maoufacmrers bas been held as antic¬ ipated, an organization said t« be perfected and it is generally understood that the agreement is to reduce production twenty per cent, on tbe output oC last year. As yet the market receives the announcement very calmly and apparently quite indifferently, with some of ttie Trade even venturing to express doubts that the movement will prove general or fully suc¬ cessful, though of course thai is simply a prospective view balancing an opposing one on the part or^manu- facturers. It is suggesteO, however, that aa the lib¬ eral output of the first half oC the season bas brought many makers nearer the point of production where they must shut down than some of their slower work¬ ing competitors, it will require some nice m.anage- ment to fully accomplish tbe proposed reduction without creatine ill feeling at least. Pale Brick are quiet and nominally unchanged with however the average advantage in buyers' favor. The best grades of North Eiver Front brick continue to keep well sold aheadof production, and of course the cost is quite as full as ever. LATH.—There is a great deal of irregularity appar¬ ent on this market and were we to send a strange reporter to write it up he might think there was an effort being made to deceive him, especially by tbat wonderfully independent class of individuals who "never care a cent what tbe newspapers say.'' We could of course through experience explain that it waa not deception, but simply a sort of commercial forget- fullnesR that has an unfortunate way of reserving some of the most important particulars governing sales which, if mentioned, would permit the only per¬ son who really does not care a rap what tbe price is, BO that he can get.it correctly, to name a fair general flgure. All the way from $2.10 up to S^.SS is again suggested this week and we give it for what it is worth without taking any unusual trouble to investi¬ gate closely, as experience again comes in to teach us that such an effort would not be.appreciated. IJME.—The market has retained a steady and gen¬ erally SitisTactory tone during the week. The arri¬ vals were fair but supply bas now about all passed cut of first hands at full former rates, the shipments In this direction will be small for some time to come and sellers are likely to retain the advantage for some time to come. LUMBER.—We have been unable to discover opera¬ tors who could suggest anything really new, as tbe outcome of the past week's operations. The distri- bntion from yard if reported less io one section is very likely to be claimed as fuller in another portion of the city, and the aggregate movement for actual consumption does not appear to vary greatly. There laeverything on band in Ihe way of slock to meet the call, however, and owners make no objection to sell¬ ing at former figures. On first band offerings the market is a graat deal a matter of chance. We occasionally find receivers quite inclined to cheerful¬ ness over the rates obtained on cargo lots, but a little questioning generally elicits the admission that the business covered exceptional features either as to quality or luck ic securing a needy buyer, and prob¬ ably the very nexi^seller encountered wiil indulge in vigorous complaints over the situation. There ij certainly a positive absence of snap and vigor in any ffrade. aud advantages generally tend in buyers' favor. Eastern Spruce stUl fails to afford nmch satisfac¬ tion IO the selling interest, either on immediate or prospective husineis, especially in the way of random offering. The ateady manner in which tbe supply has been absorbed since the season opened appears to have at last commenced to be felt as shown in the refusal of a number of dealers to further handle caijgoes, and if arrivals happen to " bunch up " a little it requires some sharp running around to flnd customers even though lower valuations are mentioned to open the negotiations. Valuations are Irregular at anywhere from Sl2.l)C@.l2.50 for inferior up to $15.00 for fine special and §16.00 or upward asked on special, but not many selling. WiUtePine is plenty, well assorted and available much m excess of any outlet presented, with tbe market fiat and tame. There is a common and natural effort to disguise unfavorable features, but the situation ia Eoo transparent to build up a market on what holders of tbe stock "ask," and would hke to realize, and when matters come right down to ac complished business the buyer generally has the advaotage. Indeed concessions are constantly made whenever such a course will result in quickened sales of stock. "We quote at S17.00@19.00 for west India shipping boards; $25^^28 tor South Ameri¬ can do.; Sl4®15 for box boards, and 516.00@17.50 for extra do. According to the compilation of tbe Export Lumber Company the exports of White Pine from port of New York for first six months oC tbe years named was as follows: ]^............. 26,976,000 1 IKI.............33,703.000 J|re............. 20,200,000 I 1833............ a9>23.000 I^S............. 37,919,0001 1SS3.............3",559,000 '880.............26,999,000 I ISM............. 34.873.U00 Yellow Pine remains in a more or less stupid sort or condition and while pretty much former figures are repeated when an attempt is made to decide on values, all quotations are in reality merely nominal lor the prwent, and especially for random bushiess. Jiowand then some figuring on specials takes place and there ia understood to be a little f. o. b. trading through agents here, but nothing to afford manufac¬ turera much encouragement. Slocks have filled up a tnue all around and yard Eunplies are good enough, K busmesa, stands so much so indeed that many deal- era refuse to make further additiona. We quote as t^"«-^?^'^^'^' 513®'^1«> per M; apecials, 5^i?*il°-' '^^^° Flooring Boards, jaaasi; Dry do. do.,523 '^^ ?■»■ ■ cherry,'S40@75 do.: wbitewo.^ *"®^°o-. do.; ehn. jJtim^j hickory, $45@&8.50 do! «EN£RiL LUMBEK NOTES. STATE. AlBAXY MARSET. The Argtis reports lor week ending July 22 as fol¬ lows: There has been onlya fair attendance of buyers in market, but the shipments have been pretty large, either of previous sales or orders by mail. The stock on the yards has increased from large receipts, aa all the canals are now In fine running order. The mills in Canada are getting short of logs, and many will soon have lo abut down for the year. There is, how¬ ever, a fine stock of lumber there piled and season¬ ing, so that shipments will continue till the close of navigation. In aiicbigan there was a large winter's cut of logs, which were successfully run to ths booms, and the mills will be fully employed till the close of tbe season. Prices there are slightly off on common stock, while the better grades are firmly he! •. Hemlock and spruce are accumulating considerably on the yards from constant receipts, 'lhe assortment is very good, and large shipments show large sales. Hardwoods are in fair stock, and all kinda can be readily obtained seasoned fit for use. The demand is fully up to the amount usual ai this season of the year. Shingles are going off slowly. Lath are in good supply and demand. THE WEST, SiGBAW Tailet. LOMBERiLix's Gazette, I Bay Crrr. Mich, f During the past week buyers both from the East aad from Ohio have been on tbe market. As to the amount of lumber which bas changed hands, how¬ ever, it is about an impossibility to form any estimate. The shipments, however, from week to week, indicate that tbere is a steady demand and that the transac¬ tions are very much larger than appears on the sur¬ face. During May tbe shipments were larger than for the same period in 1833. and for Jime shghtly less; the first half of July is fully up to the same period last year. In fact, the docks were full at the com¬ mencement of the sawing season, tbe mills have been run to their utmost capacity, and the increase on the docks haa been but trifling, proving conclusively that a heavy volume of business has been transacted during the season Thus far. Moore & Whipple sold last week 3.500,000 feet, 8C0.00O of which is shipped from Bay Cily and the balance from Au Sable; W. J. McGrawsold 200,000 feet of 10-inch boards at $10; Wright & Davis since last report have disposed of s,000,000 feet of Bradford lake stock to Albany parties at $17 straight, delivered free on dock at West Bay City; Burrows & Wright sold 450,000 coarse box at 5S.50 per thousand; an offer of S9, $18 and S3S for 750,000 feet of dry 2-inch lumber was refused by Sag¬ inaw parties last week, ahowing that the owners beUeve that " lumber is lumber." The Chicago Northwestern I/umberman reporis: Oiu- laBt week's report made mention of the fact tbat tbere was much private terms business being done on the cargo market, as a partial result of the weakness induced in tbe effort to work off the Fourth of July fleet. It was difficult to arrive at lhe real state of tbe market, as both commission men and yard jobbers were performing tbe pantomimic act, and were about as communicative aa an oys¬ ter. This week, however, the cat Is out of the bag, and all are more willing to talk. Last week $3.75 for piece stuff was the lowest figure a commission man was wilhng to name, but now he is ready to admit that it must be a good cargo that is selling at $8.50, while plenty of it is going at $8.35. No doubt that before this number of the Lumberman reaches its readei:=i cargoes will sell at $8 a thousand in frequent instances. In fact it appears to be tbe general opin¬ ion tbat the market cannot endure the present strain fnuch longer, and that dimension must drop another notch, Tbe range on short piece stuff can now he quoted at $3.25@,8.50, the latter fignjres covering the better cargoes, running a good percentage to long lengths. Two cargoes of long timbera sold during tbe week at S10.50 a thousand. The stuff was the best kind of Manistee timber, and much of it 38 (eet and upward long. The same timber two years ago would have sold for $16 to $17 a thousand. Yet it is thought by the yard men that dimension is holding up wonder¬ fully under the circumstances. Common inch lumber has lately suffered the great¬ est decline. The drop on this clasa of lumber amounts to at least $1 a thousand. Commission men are now freely quoting it on the docks at 59—that is, for coarse So. 2. Since the majority of inch stock offered on Uie market is coarse, it is likely that the greater number of sales are being ma<;e at about $9. The range on Ko. 2 may be stated at $9 to Sl!, though very little lumber of the No. 2 class reaches the upper flgure. The decline also affects medium atock, wbich must be quoted $1 a thousand lower. It is claimed ihat So. 1 lumber is holding its own, but tbat is ex¬ ceedingly doubtful. "When we get down to the bed¬ rock of values we find Ihat all lumber is depressed, though really good stock is holding up better than the lower grades. Quotations are as follows: Piece stuff, green........................$8 25® 8 50 Long timbers, green.................... 10 00® 10 50 Boards and strips. No. 3, green........... 9 00@1I 00 " medium, green................... 11 00@il3 00 No. 1, green.................... 15 CO ©18 00 High grade........................... 18 0U{g;a4 00 The monthly statement of the Lumberman's Ex¬ change shows an increase of lumber on band July 1, July . appalling, it is sufficient to show that the summer business of this year has not been equal to that of last season, aud calls for a careful survey of the situation and cautious going on the part of dealers. The effort to curtail tbe production of lumber hi the Northwest continues. Tbe following circular upon tbe subject explains itself: Chicago, Jijly 7th, 18M. Dear Sir—It has been suggested bj; several promi- nenl lumber manufacturers, in Michigan. Wisconsin and tbe Misaissippi Eiver diatrict. that a combined effort be made to reduce the quantity ot lumber to be manufactured during the remainder of 1881, and that a convention be held in Chicago to consider the propo¬ sition. There seems two avenues leading to net ter prices. One to limit production by closing the mills at au early date, say October Ist, and lessen the pressure to sell lumber, and endeavor to obtain tbe same amount of money for four-fifths the logs that all would sell for if placed on the market during the present season, carrying tbe remainder into 1885, and to that extent reducing lhe pressure upon logging endeavors uuring the coming winter. The other: To continue lo saw lumber until the close of the season, and thereby overstock the mar¬ ket to an extent that will eventually discourage saw¬ ing lumber, and reduce the supply by exhausting manufacturers. While success must surely follow a reduction in sawing if sixty per cent, of the machinery can be stopped, it seems impossible to place the lumber mar¬ ket in a healthy condition by continuing the present supply. The annual meeting of the Northwestern Lumber Manufacturers' Association will be held in Cticago early in September, when action can be taken on tbe proposition to close the mills, or, it thought desirable, a convention will be called at an early date to con¬ sider this very important matter. The object of this letter is to learn the opinion of manufacturers in regard to this question, and you will please express your ideas on this subject by writing to the secretary of this association, who wiU treat your reply as confidential. Very respectfully, A. G. Van Sceaick, President. E, S. Hotchkiss, Secretary, ENGLAND. Tbe London Timber Trade's Journal reports: Ceder seems to be looking up, prices are flrmer, and since stocks in first hands are getting inlo small com¬ pass, there is good reason to expect a better tone In the market for tbia article. Tbe trade in American black walnut is rather quiet; the poor descriptions seem only to sell slowly, but really good logs when wanted stilt command full prices. The wood now landing seems generally of pretty good character, although we notice some which we should think cannot prove remunerative to the shippers. American White wood. ^Supplies of cut stuff con¬ tinue to come forward, and some parcels of unusually wide widths are now being landed, which, being free from centre, square-edged, and sound, must work up very advantageously. METALS.—COPPEE—Ingot has secured moderate trade attention against wbich the offering was ample, and rates about as before. Buyers claim that there is a liberal accumulation of stock at the mines, and generally seem to expect lower rates. We quote at I4c. for Lake down to 13c. for the less popular brands. Manufactured Copper moderately active and nomf- nallj^ unchanged in value. We quote as follows; Brazier's Copper, ordinary size, over 16 oz. per sq. foot, 22c, per lb.; do. do. do., 16 oz. and over 12 oz! per sq. foot, 24c. per lb.; do. do., 10 and 12oz.per sq. foot, 27c. per lb.; do., do., lighter than IOoz.persq. foot, 39c. per lb.; circles less than S4 inches in diameter, 25c. per lb.; Si inches in diameter and over, 28c. per lb.; segment and pattern sheets, 25c. per Ib.; locomo¬ tive fire-box sheets, 2Jc. per lb.; Sheathing Copper, over 12 oz. per sq. foot, 20c. per lb., aud Bolt Copper, a-Sc. per lb. Xros—Scotch Pig is in very light demand, and importers are largely narrowing their business to sales of invoices to arrive and then ordering the stock forward. Prices about as before, with quotations placed at $19@.i3 per ton, according to quality and brand. American Pig is iu fair natural trade demand, but beyond that does not appear to find much of an outlet. Supplies are quite equal to calls, but appear to be kept very well in hand, and only available at former rates. We quote S20.lO@20.50 per ton for No. 1 X foundry. $]8.50®19.00 for No. 2 X do. do., and Sl7.0C®18.00 for gray forge. Old rails are dull, and show continued weakness on price. Scrap L:oa neglected both on spot and to arrive, and Ouyers generally endeavoring to secure concessions from former rates. We quote at 5l6@19 for tee rails. $30® 31 for double heads, S3O.0O®S0.5a for No. 1 wrought scrap ex ship, $21(^33 for selected do., $16.50®17.50for old car wheels, and $19.00@kao.00 forcrop ends. Steel Rails have little or no demand at tbe moment, and notwithstanding a material curtailment in tbe pro¬ ductive capacity of the country available supplies are more than sufficient for the outlet. We quote at $30 ©31 per ton for heavy sections, according to delivery, etc. Manufactured Iron ia alow from store, and not meeting with much demand on special orders, etc., with the general tendency of prices weak and unsettled. We quote Common Merchant Bar, ordinary sizes, at 2.0® 2.10c. from store. and Refined at 2.10@2 45c.; Rods, round and square, a.a0®2.35c.; Bands, 3.5'3@3.6Cc.; Norway Nail Rods, 5!4@6c., and domestic sheet on the basis of 2.80® 3.10c. for common Nos. 10@16. Other descriptions at corresponding prices, with l-!Oc. less on large Jots from cars. LEiD—Domestid Pig meets with contin¬ ued slow demand from pretty much all quarters, there is plenty of stock available if wanted, and the general tone of tbe market is tame. We quote at about 3J^®35^c. per lb., according to brand and the size of invoice bandied. The manufactures of lead are steady and quoted; Bar, 5c.; pipe, 6J4c.; and sheet, TJ^c, less the usual discount to the trade; and tin-hned pipe. 15c.; block tin pipe, 45c., on same terms. Trs—Pig remains quite firm m price for most grades on the support of tbe foreign advices, and fairly controlled stocks here, but the demand ia not active beyond ordinary trade wants. We quote at lSJi@19!^c. for Straits. 19®1934c. for Austrahan. ISJ^ @I9% for English, and 30@30^c. for Banca. Tin Platea have secured a fair average jobbing demand. The supply of Cokes oontinuea quite limited, and the firm tone growing out ot that position is reflected to aome extent on Charcoala. We quote I. C. Char¬ coal, third class assortment, S5.15®5.20 for Alla- way grade, and S5.76®5 87J^ for Melyngrade; for each additiona! X add Sl.35 and $1.50 respectively; L C, Coke, $4 90®4.95 for B. V. grade; 84.95@5.00 for J. B. grade; Charcoal teme. S4,75®5.00 for Allaway and Dean grades 14x20; S9.75@io.0O for do. 30x38; Coke teme. S4.55®4.60 for Giais grade 14x20. and S9.50aB.5S for do. 20x38—aU in round lota. Spelter not meeting with much attention, and the market is unsettled and weak, especially on domestic, though foreign feels tbe influence to some extent. We quote at 4J^rS;5c. for domestic, and foreign ac¬ cording to brand, quantity, etc. Sheet Zinc slow and nominally unchanged. We quote at 5J^@7o., accord¬ ing to quahty, quantity, etc NAILS.—The market continues in a more or less unsettled condition, with buyers reaping about all the advantage. Demand is fair and rather on tbe mend if anything, but ample, and in some cases burdensome stocka on hand, coupled with a great deal ot compe¬ tition between manufacturers of the different sec¬ tions of thecountry, keeps ihe^tone easy and oompelB