ANNUAL REVIEW OF THE LUMBER TRADE FOR THE

YEAR 1859.

From the Albany Evening Journal.

THE lumber trade for the year 1859 was not distinguished by any very marked features. In the early part of the season prices ruled at an advance from those of 1858, under the apprehension of a scarcity from the want of snow for stocking the mills during the previous winter. As the season advanced, however, large quantities from Canada West, Michigan, &c., which had been destined for Chicago and other Western ports, but which, on account of the limited demand, could not be sold there at any price, were sent to the East for a market. This soon brought down prices to lower figures than had been reached for several years, which induced a brisk demand in the latter part of the season, and reduced the heavy stock which had accumulated during the dull summer months to a reasonable amount, whieh will probably be exhausted before the opening of canal navigation.

The extra amount, not calculated upon by dealers, caused the receipts of the season, of sawed lumber, to exceed those of 1858 by about twentyfive million feet.

The following table exhibits the receipts at Albany during the ten years, 1850-1859.

The following table exhibits the valuation of the receipts during the years named:

1850,..

Boards and
scantling.

31,823

48,756

....

85,104 119,497 70,381

....

153,264,629

....

The value of these receipts for 1859 is estimated at $5,528,070. Besides the receipts by canal, several million feet were brought to market by rail-road; but we have no means of accurately stating the quantity.

In predicting the probabilities for the lumber trade for 1860, several small matters should be taken into account. Although the amount on hand in Albany is not unusually large, the retail yards supplied from here are full, whereas a year ago they had but a limited stock. The demand for foreign shipment will probably be comparatively light, as it is reported that adventures in this way have not been profitable for the last season. For the general trade of the country, and particularly for the manufacturing towns, a large quantity will be wanted. So, on the whole, there is reason to anticipate a fair demand.

The supply will, undoubtedly, be very large, as manufacturers have never had a better winter for stocking their mills; and so far as we have heard, full advantage of the snow has been taken. There is little hope that the western markets will absorb any large proportion of this supply, and the greater part will be sent to tide water. Already applications have been made to our commission merchants to receive large consignments of lumber heretofore marketed west.

Reasoning from the premises, prices will rule quite low for the coming season, and manufacturers should operate with great caution and exercise a rigid economy, or they will have to sustain serious losses. Too much lumber will probably be forced upon our market, as has been the case since the impulse given to its manufacture by the heavy western demand, causing the erection of numerous mills in Michigan, Wisconsin, Canada, &c. Until many mills cease operation from the want of means, or the west again demands as large a quantity as formerly, (which it is not likely to do soon, if ever,) prices cannot advance to such figures as will be remunerative to manufacturers.

The demand for staves has been light and prices low. There is a large accumulation both in Albany and New-York, so that there is but little disposition among the dealers to purchase this winter, except some few kinds to keep up an assortment.

Albany this year again maintains its old rank as the largest lumber market in the world, and, from its superior facilities for receiving, storing and shipping, from its situation at the termination of the canals, through which the great bulk of the products of the northern and western forest must necessarily be transported, and at the head of navigation on the Hudson River, from which they can be distributed to all the Atlantic and foreign ports, will probably long continue to maintain that rank.

END OF REPORT, 1859 – 6 0.

12

ALPHABETICAL INDEX

TO THE SUBJECTS CONTAINED IN THE

Annual Report of the Chamber of Commerce, for 1859-60.

Dry goods, value of, withdrawn from | Hudson River, triangulation of, 202.
warehouse, 334.