Word: lumber
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Dates: during 1950-1959
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Cosmopolis is only one of many logged-out forest towns throughout the U.S. where lumber companies are stirring into new life, inspired by the technological changes that have put the long-depressed forest industry up among the nation's fastest-growing industries, along with oil and chemicals. Woodsmen have learned that lumber is among the least of the tree's end products. The industry now squeezes marketable products from as much as 75% of the tree v. 30% in 1935. It has developed more than 4,000 wood derivatives, which are being used in an ever-widening range...
...Million in Chips. The forest industries have been forced to branch into new products as per-capita lumber consumption has dropped (down to 256 bd. ft. in 1955 from 504 in 1904) and timberland prices soared (up as much as 1,700% in 18 years). Many companies have also diversified to make full use of their tim ber reserves, e.g., western alder, long bypassed when redwood and Douglas fir forests were logged solely for lumber, is now widely cut for wood pulp...
...same time, the small, one-product companies that once ruled the woods are yielding to corporate Paul Bunyans. To make the most of every shaving and splinter, lumber companies are branching into paper and pulp production; paper companies are pushing into lumber manufacture. Georgia-Pacific Corp., No. 2 plywood producer (after U.S. Plywood), recently broke ground for a $20 million pulp and paper mill at Toledo, Ore. Georgia-Pacific President Owen Cheatham, who has increased the company's timber reserves and cutting rights 1,000% since 1953, explained: "We aim to parlay the $900,000 worth of wood chips...
Many companies are merging to assure long-term lumber supplies. Georgia-Pacific last week took an option on a "substantial majority" of stock (at $310 a share) in California's Hammond Lumber Co., thus gained control of 3.5 billion bd. ft. of timber. Biggest merger yet is now being negotiated by International Paper Co., biggest U.S. papermaker, and Kansas City's Long-Bell Lumber Co., No. 2 lumber producer (after Weyerhaeuser...
...start with. On the U.S. Department of Labor wholesale price index, steel prices between 1939 and April 1956 rose 131%. about the average for all commodities. However, many industries where demand was also high got much bigger price boosts, e.g., nonferrous metals went up 195%, lumber and wood products 305%. Furthermore, as Republic Steel President C. M. White points out, the industry's net income in relation to its worth has usually lagged well behind other industries. As one result, says White, steel stocks have a market value of only eight to ten times earnings, while chemical stocks sell...