Columbia University Libraries Digital Collections: The Real Estate Record

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October 16, 1887 The Record and Guide. 1295 or rather it has been heretofore depended on. This year, however, has been marked by a series of efforts to do away with competition. One com¬ bination after another has been formed for the express purpose of putting an end to competition and estabUshing in its place monopoly. Thus, in the manufacture of linseed oil there is no longer comf etition. In the mining of hard coal monopoly has taken the place of competition. In whiskey manufacture a monopoly is rapidly establishing itself. Even the cattle market will soon pass under control of a combination of cattle-raisers. The railroad traflSc of the country is rapidly tending towards immense combinations to succeed all competition, while the telegraph business of America is practically controlled by one man. How long will it be at this rate before competition becomes a thing of the past ? What will be the condition of a country whose fuel is controlled and owned by one com¬ pany, whose wheat is controlled and owned by another, whose railroads belong to another, whose telegraph business is monopolized by another, whose cattle are owned by another, and every great interest by a separate monopoly. Will the time come when competition in trade shall entirely disappear ?—0/naAa (iV(26.) World. BUlhVlNQ MATERIAL MARKET. BRICKS —Pretty much every operator on the Ex¬ change had one story to report, and it was simply a repetition of what had been given for weeks past. When a flrst-class load of stock is reported it is only necessary to let it be known with the fact that no ad¬ vance will be asked and a customer can at once be secured, but the bulk of supply continues from sli/htly to very decidedly faulty and has to undergo the usual course of peddling until an outlet is found, with a corresponding degree of uncertainty regarding tbe final selliug rate. We repeat about former gen¬ eral quotations, but consider that all flgure a for grades below choice have a nominal basis aud should not be overlooked under the present somewhat pee .liar con¬ dition of affairs. Acc:>rding to latest received advices no positive suspension of work had taken place along the river, but the frosty nights give warnins: that the season is drawing to a close and future additions to the product will be comparatively small, though some yards will no doubt be groing until the latest possible moment. We noticed a large load from the Lorillard yard this week, indicating that matters were working again in that locality. CjnsumpUon prospects are still said to be doubtful, and some op3rators talk about pos¬ sible labor troubles; indeed, one of our largest local concerns has had to contend with a strike among its employees this week. For Pales there is a little de¬ mand and pricea k»^ep low, say ab>ut $5.00@,J.50 per M. Fronts are still S:iid to beselliog well and com¬ manding former rates w ithout difficulty. CEMENT.—With the exception of some of the poorer grades domestic cements continue to sell with freedom and at full rates. Possibly immediate gen¬ eral consumption may be a little slow, but th? signs of winter have commenced to develop, and from all parts of the country dependent upon the manufac¬ turers of Rosendale came orders for parcela to flU out accumulations. Foreign makes havti continued to arrive with freedom, but promptly disappeared after landiug on waiting orders, and importers assert they could have readily sold all on new demand. Thia in¬ sures full aud well-maintained rates, to which addi tional support is given by the firm condition of the foreign markets and the extreme xiost of traneporta- lion. HARDWARE —A. great many country wants have been filled and customers withdrawn, but others come to take their place from new sections, and thus the general volume of demand is very well preserved. There is also a pretty good showing made by local orders and the market is kept well together, with manufacturers aid dealers very well satisfied. Se¬ lections cover everything really seasonable, but posi¬ tively staple goods are handled in largest proportion. Prices generally rule steady, with no recent changes reported, except in 2-iach tubing and line pipe. LA.BOR.—So far as the majority of artizans em¬ ployed in the construction of buildings are concerned they appear to rest satisfied for the present, with hours and wages, and superficially at least matters are smooth and satisfactory. The feeling, however, is not one of perfect confidence among employers, and they are fairly prepared to hear of some unex¬ pected and possibly unreasonable demand at any moment The strike of the brass workers and chan¬ delier makers affects the finishing of structures to Bome extent and may become more serious, as th9 men threaten that unless they obtain success, thev will induce carpenters, bricklayers, etc., to "go out'' as a supporting measure, thoufeh the lateness of the season may make this move fruitless. One of our largest building material firms has encountered a strike this week among its yard liborers, teamsters, etc., and at latest accounts was getting along with business very well by employing non-union men. LATH—At last the selling side of Ohe market ap- paars to be getting in its grip again and prices have made a reaction, with a considerable firmer tone manifested. It is simply a change in the relative positions of supply and demand, the entire clearing out of the recent full offerings from receivers'' hands, and an increase of consumption hiving a natural in¬ fiuence to make dealers more aoxtous, iso that they have taken up pretty n.uch everything available afloat at gradually advancing rates, until finally sales have reached S3 2) per M to arrive, and it looks as though this was now about as low as anything could be reached, though the price|of lathis always "mighty ODsartain.'" There is the usual report about small quantities afloat and of limited shipments to be made. LIME-As we intimated at the time the recent break in price of Rockland carried cost a great deal lower than was publicly reported, the evident idea of operators being that it is only the advancing figures that should be given out. However, it ia not too late to complete the record, and now state that a consider tble amount of common sold at 80c. per bbl., and to some extent at 75c. per bbl., and a possibility that $1 was shaded on finishing, though that is not so certain. Since our last, arrivals have been somewhat fuller, but there appeared to be a demand for them, and receiv¬ ers are now quoting the tone steadier, and say nothing can be bought for less than 9Uc. on common and $i for lump, with some sales at $1.05(ail0 per bbl. St John stock in fair supp-y, but selling well and ruling steady at 80(8t85c. per bbl. Receivers of State lime claim there is no money in them at present rates, and are unwilling to bring stock forward. LUMBER.—Business on the distributive outlet con¬ tinues more or lees irregular, but when (he total volume Is considered there seema to he evidence of some growth. Buyers abate none of the caution to which tbey have for eome lime adhered, and especiaUy the more solid class of customers whose orders are particularly sought after, but the ntcessities of the season compel the handling of a greater quantity of stock for immediate con-umption. and engagements on contracts for late fall and winter delivery are al¬ ready commecciog to be made. In fact, the promises generally are fairly encouraging, and while abandon¬ ing in ameasure]espectations of any very liberal move¬ ment dealers find no reason to doubt the development of a good average trade, Resident and visiting agents and principals find also a somewhat erratic course of affairs in that portion of the trading tbat sells sup¬ plies into dealers' hands. Desirable offerings are rare¬ ly positively neglected, and if buyers happen to be struck "j ust right'' negotiations are prompt, yet the de¬ mand e in hardly be call ed d.n anxious one for any kind of stock, and with the generdUy closer competition prevailiug on the selling side it ia more luck than good management that leaver a respectable margin. The chancds, however, are largely against a positive ahriaitage in demind, for while here and there evi¬ dences are plain enough that piling away against winter want* has taken place a vast amount of lumber must yet be handled before the general accumulation will be anything like full. Kastern Spruce is still somewhat &fubborn in resist¬ ing efforts to give the market a universal oost in sellers' favor, and it is a question if there will be a full reaction this season. Now and then a cargo can be placed at a comparatively good rate, but some special attraction can generally be found in the spe¬ cification, and oa simply ordinary bills customers bid slowly, and, as a rule, only when the offering is brought to them. There is probably no shrinkage in the outlet, but it commences to develop that a greater number of specials were placed than sup¬ posed, and this cuts off just so many chances for ran¬ dom cargoes, beside wnich many dealers incline to the belief that manufacturers cannot let up much in the matter of production ao loug as there is a chance of turning their logs into money, and thence ia na¬ tural transition into mouey. On the other hand, however, nothing has this season sold as low aa last year; and, as the independence of buyers is not likely to be carried far enough to prevent a stocking up of yards, there is a fair enough chance for any¬ thing except a deluge of supplies. We quote at Sl3.0O@i4.0O per M for 6 to 9 inch, aud $14.50 @l(i.50 for 10 to ly inch, with specials at $16 50@17.50 per M. Northern Spruce does not make a very breezy mar¬ ket, but most receivers seem to know just where they can find some one to give aitention to the atock they have to offer, and the supply is quietly and promptly disposed of at full and satisfactory rates. We quote for good stock as follows: 2x10,35c.; 3x9.3lc.; lJ4xI0, 21c.; 114x9,20^0.; 134x6^. 13@13J^c.; 1x10. 19c.; 1x9, 161^®l7c.; ixG%, llH®12c.; 1x6, lOJ^c ; 1x5, TJ^c. as run. lulling has kept sold down so close this fall that re¬ ceivers feel fully assured of ability to retain control during balance of the season. Demand is somewhat lighter and less regular in form, but supplier unsold, it ia believed, can be stored with safety, and no modi¬ fication of cost become necessary. Quoted at 4J^@ 4%c. per lineal foot for one-half of cargo of 12-inch butt or larger, and 4}^@4%c. for smaller sizes. Hemlock is reported much the same as for some time past. Intimations are occasionally given of sales made at reduced quotations, but so far as these stories can be investigated they seem to be founded mainly on the action of a few maiufacturers who, with a broad idea of their own ability to run ih^ market di¬ rect, came on here to do so. aud proved quite a nice little plum to the buyers who were fortunate to get hold of them and squeeze off 25@5Uc per M from the rates regular agents were getting without difficulty. Wequote Joist at $11.60(^12 per M; Boards at $12@ 12.5udo.; Timber $12(a>12.50 for 24-foot and under, $i3 (a>14 for 26 to 8i-foot. and $15.20@i6 for 31 to 40-foot. North Carolina Pine timber shows nothing new, the sale proving quite uncertain and tending 10 fall away still more, as buyers generally have no use for it for yard purposes. Dressed stocfc of flrst-cia^s quality continues iu very good demand, and there is stilt occa¬ sional talk about manufacturers not being able to keep up with their orders, but no custom can be found for poor sluff except at very low rates, and even then buyers handle it under protest. Desirable quality retains a steady position on value without much diffi¬ culty. We quote for sidings, $19@20 00 for inch and $^L).UO@21.00forli^ inch; for ^.tocks $23.00®23.00for inch and $24.00@"-'6.00 for 1!4 inch stock—12. 14 and 10 feet—all kiln-dried No. 1 quality, with No. 2 worth about SJ.OO@ 4.00 ner M less White Fine shows no unusual irregularity, yet still lacks a really uniform market and reports vary ac¬ cordingly. We think, however, that iu one way or another, so far as the consumptive outlet is concerned, there 1;^ an in^^reasing movement on account of both building and manufacturing wants, and possibly there may also b3a growth of the business with dealers. There is a great many agents skirmishing around tho mar-et from the North aud iVest, and these two sec¬ tions are competing strongly for such opportunities as may arise to placd large parcels, and while an in¬ clination to retioence is shown regarding what is act¬ ually accomplished, the actions of both buyers and sellers occasionally lead to the inference that nego- tiationf) have not all b^en fruitless. Export clearanoes this week have proven quite small. We quot^ 8i7 50 (3^19.00 for Weat India whipping boards; $20@29 for South America do.; $15.O0@16.00 for box boards and $16 50 ©17.50 for extra do. Yellow Pine ahowa no inclination to favor the seller in tbe matter of price, but a little more demand for random stuff has prevailed from buyers wd(i want to fill out yard assortments and get ready for winter. Over thess, however, as well as epecialu the competi¬ tion continues so keen that the successful bidder has t J name figures that frequently look like a slaughter, though in reality tbe prices are guaged upon ability to get corresponding terms at primary points. A few extra difficult bilU, however, are floating around look¬ ing for some one to take them at rateN prcpjrtloned to the general market and thus far wilhota success. The f. o. b, trade has been quite irregular, but ou the whole not very extensive. We quote hs follows: Randoms, $18.0J^2i.0O per M; bpecials $.n).03^ 21.50 do. ; Green Hooring Boards, $21(^22.50 do.;Dry do. do., $23.00@25.00 do.; Sidhiga, $13 00(^16.00 do.; Cargoes, f. o. b. at Atlantic ports, $13.00(^15.00 for rough and $18.00(^20.00 for dressed; Cargoes, f o. b. at Gulf porte, $12.00(^18.50 for rough and $19.00 (^21.00 for dressed. Hardwoods ^ave a moderate degree of animation but nothing of ao unusual oboracter, and a faint grumbling over the condition of trade may occasion¬ ally be heard. Complaints, however, are only really serious where consignment has been overdone and when the orders come to realize or the owner came on to do the work himself there was simply nothing to prevent a slump. Walnut of low grade flnds fair favor on local consumption account, but the better qualities seem to be too costly for general use. Cherry continue-i to sell quite close to the supply; indeed somn dealers complain that thwy cannot get stock for¬ ward fast enough to meet all wants, and of course under the circumstances values are firmly supported. Oak, both plain and quartered, is in excellent de¬ mand, including quite a number of export ordera, and there is no difficulty experienced in realizing full prices. Ash and poplar meet with an average call and steady. There is a demand for real choice loga on export orders, but no defective stock can be used to fill the bill, even when offered at very (low rates, shippers feeling quite determined to send out only saleable stuff. We quote at whole¬ sale rates bv car loads as follows- Walnut. $60!gill0 p«r M; White aph, $37.50@43 do.; oak, $37(a45 do.; quarter sawed clear, $50®55do.; maple. $25@32do.; chestnut. $30@38 do.; cherry, $67^90 do.; white wood, $27@33 do.; elm, $20(^23 do.; hickory, $50® 75 do. Shingles still ftnd a little hom*» demand even for this late period, and with the export outlet wanting some stock either here or f. o. b at th? South, sellers manage to pick up a very good business Prices are steady on all leading grades and the offering well in hand. We quote Cypress at $8 50fSi9.50 per M: for 6x20 and Cypress large $14.00@16.00. Pine shipping stock, $3.50(^4.50 for 18 inch, and Eastern siw grades at $3 25{§>5.00 for 16 inch, as to qual¬ ity and to quantity, Eistern shaved cedar, $4@4.75 per M. Machine dressed cedar shingles quoted aa follows : For 30 inch. $15(^20 for A and $^3(9^28.50 for No.l; for24inch$13@15for A aud $l8.50f^20.50 for No.l; for20inch,$8.75®9.50 for A aud $11.50(^12.60 for No. 1. GEXERAL LUMBER N0T£8. THE WEST. The Timberman as follows: Chicago. The Cargo Market—The week at the docks has beeu a quiet one, productive of little preient change in prices, though promising an early upward movement to correspond with the increase in freight rates. Such advance as may occur, however, is not likely to any more than cover this item, and producers consigning here will receive about thesame net returns that they have been getting. The commission men have now no idea of raising the value of lumber above the pres¬ ent range this season. Withafairsunply of stock on hand, the brokers have had to make only about the u^ual exertions to get it off. A few loads have been carried over night once or twice, but the stock has been kept from accumula¬ ting to an extent to make trouble. The demand is spoken of as fair. On lumb3rs prices have not changed perceptibly. Piece stuff in short lengths may ba fairly quoted at $10 for average lots of green; when it is partly dry, runs well to desirable sizes, or has a good sprinkling of three-inch joists and some limbers, it may bring twenty-flve or dfty cents more. Oue or two shillings may be added to the quotations next week, if the ves¬ sel men are successful ia raising the rates of water freights. In other respects the market is steady. Inch lumber shows no appareot change in price, though on occa¬ sional lots of common lumber that will sort up well an advance over the low jst figures made of at least 60 cents is doubtless realized. These gains do not show in the table of quotations, as the range given must cover all qualitieB. It has been frequently ex¬ plained that it is practically impos *ible to accurately show the prices obtained for inch lumber, owing to the wide variations in the actual quality of what ia nominally the same kind of stock. Editorially the Timberman says: One of the peculiarities of Jthe present season Is likely to develop promioently during its closing weeks in a rather free movement of lumber between produc¬ ing sections and distributing markets by rail. It is ap¬ parent, already, that there is a good deal of stock piled at some mill points thU will not be got forward by water. Even if freights were down to a flgure at which shippers could live under them, the vessels are not to be had to move th^ f^tuff and take care of the ore, grain and coal freights that are in the market for their services. If the Like is depended upon to furnish transportation, it is clear that there will be some lumber carried at the mills that dealers would like in their yards. The result will probably be. as stated, that much of it will bebrought by rail. Eastern biyers of Saginaw atock are pretty likely to resort to this plan of getting their lumber in for spring trade, and in other dis¬ tricts, wherever it la possible and there is the neces¬ sity for it, the same plan will probably be followed. This market will no doubt receive a good deal of Wis¬ consin lumber by rail. Last winter shipinents were made from Lake Superior points, and it is not to ba supposed that lumber that is wanted will be allowed to Ub there as long as there are rails for cars to roll on and locomotives t<> move them. The expense will not be much greater than the freight by water, so tbat it will not make any great difference in th^ cost of the lumber in distributing yards. But the fact th it such a thing is practicable on a large scale hints of the possibUity of a time coming when the movement of lumber, even on the lakes, will no longer be entirely controlled by vesiel ownera, *'dock woUopers^'and unloaderg' aud 'longshoremen's unions. The Northwestern Lumberman as followB : It has been lately reported that a big west end yard was, on October l, to advance ita prices on piece stuff to $12.50. on the ground that such lumber could not be sold at a profit for anything less. Such haa been the late tendency toward " firming up" that liitlo Ig now heard about sales of piece stuff at $11.75 and $11.50. Tbe price of short dimension has hardened at $12 a thousand, with a tendency coward $12.50 as a I new basis. No. 1 fencing is firm at $15, common