HAMMOND LUMBER COMPANY

OF DIAMOND-H BRAND REDWOOD CALIFORNIA REDWOOD

San Francisco

417 Montgonery SL

DOuglas 3388

I\IANUFACTT'RERS

Mills crt Sooc cnd Eurekcr, Cqlilornicr

GATIFORNIA REDWOOB DISTRIBUTORS TTll.

Pure Oil Buitding CHICAGO, IIIINOIS

MembersCclilornicr Redrrood AssociclionBedwood Export Compcny regrowing trees and that 7l million acres in that area llearing trees six inches thick or larger. That augurs for an undiminished continuance of our most abundant tural resource.

Timber Supply and Tax Policies

2010 So Al.-"adc St PRospect 1333 are of the income tax laws severely penalize the extra producwell tion of logs which the War Agencies are so urgently seekna- ing.

The crucial point of wood production now is log supply. This involves a composite of problems-in labor supply, equipment, and timber.

A combination of difficult conditions is gr5dually urearing down the log supply in most of the forest regions. The War Agencies are now tackling more diligently and more vigorously the problems of labor and equipment in the woods. But one of the more fundamental handicaps to log production has had little public consideration and, rrntil recently, no public action. The timber depletion pro't'isions of the federal income tax laws have never been generous' Now in combination with the high replacement costs of standing timber and the exceedingly high income and excess profits tax rates, these timber depletion provisions are severely retarding and in many instances choking the extra production for which now particularly there is urgent need.

Many companies during the past twenty vears have learned {or themselves the timber-growing possibilities of their forest lands. Many have so planned their timber cutting as to provide long continuing and in some cases Permanent operations. Now they are asked to cut more timber, cut their best timber, most accessible and most conveniently logged. Many are doing this although in so doing they are often undermining their possibilities of permanent future operation. In any event the present timber provisions

The plain fact is that these present timber provisions are not suited for the taxation of income derived from the conversion of property held for a considerable period of time and representing a substantial increment in growth or value or both. These harsh and inequitable provisions are retarding production now, and until they are modified; they will so continue.

For the first time in many years, Congress has recently given constructive consideration to some relief of this paradoxical tax situation. It has granted a partial exemption from taxation of income attributable to extra war production of logs. This has opened up a basic economic question affecting not only present r,var production o{ lumber and timber products but also the future status of forest ownership. We may not complain of taxes merely because they are high, but we may expect and ask that timber taxes be equitable, be suited to the nature of the resource-and that they do not destroy their own sources.

"Bottleneck" or "Safety Valve"

Most forest products "shortages" for urgent war needs have been fears, not facts. Wood is now recognized as one of the most generally useful industrial materials, in war as in peace. Its greatest contribution will be not only to supply direct war needs but also to provide practical substitutes for scarce materials needed for fighting tools. Fundamentally, wood is a "safety valve," not a "bottleneck" industry.

Jurt Wondcrin'

I wonder, little Forty Three

As you come gliding through' the night, If you will take this weary world And change its darkness into light; Can you divert it from the path Down which it rolls through clouds of sin, And set it on a worthier course By an initiatory spin ?

"I wonder," said the youthful year, "Why you persist in questioning me, The information you desire Is veiled in dim futurity. I bring a gift of precious days, Like feckless pagesr clean and bright, The record left for time to read, Humanity alone must write."

I wonder, little Forty Three, As Forty Two goes limping out, If you will give us hope for fear And whisper; "courage," when we doubt. And will you banish from our hearts The sins of malice, greed and spite, And lend us wisdom for our guide And keep us marching toward the light?

"f wonder," said young Forty Three, "Why you should ask these things of me. Men of good will must face the storm As arbiters of destiny.

From their own powers of mind and heart Must come the strength and will to do And by the light of wisdom's torch, They'll see this time of conflict through."

-A. Merriam Conner.

Sacramento Hoo-Hoo Club Has Christmas Party

The annual Christmas party of the Sacramento Hoo-Hoo Club was held at Wilson's Confectaurant on Wednesda.v evening, December 16. LeRoy Miller, Burnett & Sons, Sacramento, the Club's president, presided. There was an attendance of about 60, representative of Sacrameirto and the Sacramento Valley.

Several acts of vaudeville were on the entertainment program, and in addition there was a drawing for pre5ents brought by each one present for the Christmas tree. The gifts were under one dollar in value.

wEsTERt ttLL & toutDttc

WHOIESII.E E ETTIT

Y0u COME FIRST

efter Undc Sern

BUT thc wcll known EWAUNA ma* wilt alwap be--

FIRST for textur,e

FIRST for.millwork

FIRST for ldln.drying

FIRST for unifom gndcc

FIRST for ccn'icc

EIITAUNA BOX GO.

Mill, Factory, and Selcr Ofie

KLAMATH FALLS, OREGON

Ccntral Califomia Rcprcrcnativc Pyr.mid Lumbcr S.hs C,o., Oall.nd

Anglo Catifornia

TUMBER CO.

We invite lunbs dcclcn to trke rdvantrge of our wcll anoilcd rtoclc of

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G0.

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' Lor Angeler San Bcmardino

655 h* Florence Ave. t44 Sourh E. Sbcei

Phoni THomwall 3144 Phonc 343-33

Telqphonc Collcct ht, m quotc yoa' or yoor roquircnats