TIMBER.

Hokitika Guardian, 12 July 1921, Page 4

TIMBER.

THE DOMINION" OUTLOOK. DUNEDIN, July 9. Some inquiries were {made by an “Otago Daily Times” reporter repecting the timber market, and bo was given to understand that there were larger quantities of timber available at the present time than there have been for some months past. The position in regard to obtaining supplies, said one man, who is prominently connected with the trade, is much easier than it was six months ago and West Coast mills are now looking for orders, a thing they have not been in a position to do for tbo last three years. The South Otago and Southland mills are also able to execute orders, and in some eases when a company owns several mills some have l>eon closed down and'others are not working full time. At the same time, merchants in Dunedin are carrying their full requirements in the matter of stock. Owing to lack of building at the present time business is somewhat quiet. The high nominal rates of wages which are involved both iu-rtho production of timber and in the building of houses will probably cause the prices of timber to maintain their present level for some time ( to come. Another factor which is having its effect on the. bidding trade is contained in the fact that persons with money *o lend will not advance on mortgage so large a proportion of the value of a house as was formery the case. It was contended by one timber man that owing to the lack of building and the prevalent shortage of accommodation, the (lovernment would be forced to take such action as would ensure provision of homes for the people to a greater extent thanks being done at present.

Timber merchants generally regarl the position as a passing phase, and they look forward with some degree of confidence to the spring time' of the year, when they believe money will be easier, by the coming on the market of the new season’s wool clip and by the closing of some of the loans which are now absorbing the bulk of the money available for investment. The onh line in which there has been a re duction is imported timber. Dreg u pine which recently came down by 20s per 100 ft.