12 December 1901, Cameron County Press

To corner the lumber market. Altoona, Dec. 9. – The cornering of the hemlock lumber market of Pennsylvania is said to be the purpose of a combination, at the head of which is John Dubois, the lumber king of the state. Back of him are the proprietors of the largest tanneries of the state, who are also owners of much of the hemlock. It is said that the object is to force the prize of hemlock from $15 per 1,000 feet to $20 or higher.

It is claimed that allied with Dubois are F. H. Goodyear & Co., of Buffalo, N.Y., who counted the hemlock in Potter, Lycoming and other northern counties of the state. The deal will cost over $20,000,000 to consummate.

Representatives of several large firms have been in secret conference here [Altoona, PA] for several days. To successfully accomplish the corner the product of the Pittsburg, Williamsport, South Fork and Northern districts will have to be secured. In Pittsburg are centered 1,200,000,000 feet; in Williamsport, 160,000,000; in South Fork, 65,000,000 and in Vintondale, which is part of the South Fork field, 20,000,000 feet. This represents a year’s output of the districts tributary to these centers. Dubois controls the South Fork, Vintondale and part of the Pittsburg districts. The smaller lumbermen declare the corner will strike a snag in the Wisconsin and Michigan competition if prices are forced to a squeeze height, and that another competitor is North Carolina pine, which could be shipped into Philadelphia in quantities and be sold at figures below hemlock if the latter is put up to the fancy prices proposed for it.