THE CALIFOR}.IIA LUMBERMERCHANT JackDiorne,fubldhu How Lumber Looks

Vith the banking holiday brought to an end and t{re normal banking business of the country resumed, a spirit of confidence and optimism has spread throughout the natio,tr, and already there are signs of a business upturn. Confidence abroad in American stability is also seen in foreign trading of the dollar at higher prices.

That there is a better feeling in the lumber industry on the Pacific Coast is evidenced from the following interviews we have obtained during the past few days in which lumbermen in California and the Northwest express their views on the lumbersituation:

Guy E. Smith, general sales manager, Chas. R. Mdormick Lumber Co, San Francisco-(The most encouraging feature in the market is the decided improvement in Atlantic Coast business. Buying has been quite heavy in the last week, due to the desire to get under cover before the price advance of March 10. Price of Japanese squares has advanced, and China demand is beffer, although there is no increase in prices yet. Ve look for an improvement in the volume and price of United Kingdom business on account of the equalization of the exchange on Canadian funds."

(Telegram) Situation as we see it, mills individually determined not to manufacture more lumber than can be sold at present prices or better and as price levels raise there is no indication production will be materially increased. It is apparent that experience in this connection has taught a bitter lesson. Mill men are viewing conditions in all markets calmly. There will undoubtedly be an increase in price as {nany mills are refusing to take business on present prices.4. E. Price, Sales Manager, The Clark & Vilson 1"T* Company, Linnton, Ore.

A. J. ttGus" Russell, manzrger, Santa Fe Lumber Co., San Franciscettl consider it remarkable that business has remained as good as it has in spite of the vicissitudes encountered by all lines of business in the last few years. Prices of farm cbmmodities have not decreased as a result of the banking trou' ble, and in fact many have improved. Beans and batley ate up in price and butterfat has held its onqr. In my travels around the country I find that the man in the street is feeling better and more optimistic. More lumber has been sold offshore in the last 10 days than in the last 10 months. Personally, I am more optimistic now about the future than at any. time in the last three years.tt

The Pacific Lumber Company, San Francisco-r.Vhile dealers generally expressed pessimism at the start of the bank moratorium, they have without exception reported increased activity in their business during that period. One country dealer reported 30 separate sales in one day, all on credit. There seems to be a greater feeling of confidence on the part of the public following the strong action taken by the Federal Government, and we confidently expect an increase in lumber prices as a result of the new Federal goli;f."

George B. Cone, sales manager, Fruit Growers Supply Co. (Lumber Division), San FranciscettOur company sent out the following announcement to the trade under date of March 1. tlmportant Notice: Effective March l, 19t3. This is to advise that we are withdrawing all outstanding quotations and nnconfirmed orders negotiated after February 28. (Signed) Lumber Division, Fruit Growers Supply Co., San Francisco, Califomia.' This means.that until furher notice we are completely out of the market, having decided not to accept the pre. vailing low prices being offered, and feeling confident that following the reopening of the banks throughout the country there will be a marked improvement in lumber prices. Up to today, (March 13) we will have turned down orders f.ot 29 cars of lumber.tt :F :F *

R. F. Pray, sales manager, Red River Lumber Co., San Francisce"[.Jp to date (March 13) we have shipped more lumber this year than for the same period in 1932, and we have kept up our production and shipping throughout the bank moratorium period. Ve are looking ahead to the future with much confidence, and are refusing to take orders at arny price except for immediate shipment, feeling that lumber pricec have reached the bottom and higher n"*i.T indicated for the near future."

(Telegram) Your wire date. Fir lumber in strong pooition, Iogs scarce and logging still retarded account snow. Lumber stocks broken and staple items in very limited supply. Export demand especially tmns Pacific improving and prices have advanced today. Sfith banking crisis behind us the United States will now get down to business and fir lumber will be needed in increasing volume during the coming spring and summer. Present unwholesome price level must be raised that labor may get better wages and more days per week.-Lloyd J. Ventworth, Portland Manager, Douglas Fir Export & Exploita. tion Company, Portland, Ore.