Johnson Lumber

Description

Arnold Johnson logged 40 acres of prime white pine and hardwoods near his home in the winter of 1930-31. He was offered $25 per thousand for the 40,000 board feet of logs, but decided to saw and pile the lumber thinking the boards would soon be worth more. However, the Great Depression made its way to the Midwest and suddenly there was no market for lumber. Over the next year Arnold had to accept $17 per thousand for the dried lumber to pay the bills. It was Arnold's first large venture in the lumber business -- fortunately most have turned out better in the years that followed.

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