Signs of lmprovement

Coast Bank Deposits Gain 17 Per Cent

Far removed from the banking troubles of two years previous to 1935, Pacific Coast banks reported striking gains in deposits during the year.

- Reports from thirty-one large city banks, ,collected -and tabullted by the Federal Reserve Bank of San Francisco, showed these outstanding developments in 1935:

Demand deposits in,creased 17 per cent to $778rW_0rQ9.

Time depoiits increased 6 per cent to $1,041,000,0m'

Total loans rose 3 per cent to $938,000,00O.

Investments bulged 14 per ,cent to $1,218,000,000.

Reserves expanded 17 per,cent to $183'0OO,m.

G. M. SELLS 1,278,996 CARS IN 1935

General Motors Corporation reported January 8 that 1935 sales to consumers in the United States totaled 1,278,996 cars and trucks compared with 927,493 ]n 1924.

MONTGOMERY WARD CO. SALES REACH

ALL-TIME HIGH

Chicago, Jan. 8.-Montgomery Ward & Co. today reported sales of $287,593,356 fur the 11 months ended Deiember 31, the highest for any'corresponding period in the company's history. The total was an increase ol 17 pet cent over the corresponding 1934 period. , December sales also were the best in history, totaling fi39,474,902, an increase of 13 per cent over December, last year.

S. F. HOME PERMITS UP 210 PER CElr.IT

The number of building permits for San Francisco homes increased 2lO per cent last year, as ,compared with 1934, and total value of home ,construction increased 226 per 'cent, figures released yesterday revealed.

In money figures the value of new homes constructed last year within the city limits amounted to $3,624,273, as against $1,110,734 during 1934.

Exclusive of. $1,2\2,622 in additional bridge construction permits granted during the year, the total value of building permits for all type of 'construction in the city was $11,304,790, compared with a total of $7,328,372 f.or 1934. Including the bridge ,construction permits, the grand total for 1935 was $12,517,4I2.

COAST STEEL VOI]UME LARGEST SINCE 1929

Aggregate steel tonnage sold in the 1l Western states in 1935 was 448,7A2 tons-the best showing since 1929 and 2I per cent betts than the 370,592 tons in 1934. The outlook for 1936 business seems particularly good.

iDECEMBDR IRON FIGURES HIT 6.YEAR HIGH

According to statistics recently issued prodqction of 2,116,534 gross tons of pig iron in December was the highest for that honth since 1929, and compares with 2,836,9t7 tons that year.

B. & L. ASSOCIATIONS MAKE PROGRESS

Every building and loan association now operating _in California has sufficient assets to pay out eventually to' its investors 100 cents on the dollar, Louis Drapeau, state building and loan commissioner, said in San Francisco, .January 5. .-

"Wiah the rapid recovery of real estate values in California, the rehabilitation may be accomplished sooner than any of us anticipate," he declared.

Coast Building Has Best Period In Five Years

Building had its biggest year since 1931 along the Pacific Coast last year.

Permits issued in the Coast's 10 largest cities during 1935 totaled roundly $76,000,000, more than double the $37,000,000 of 1934.

Oakland topped the list in percentage gain, the $9,685,000 permits issued there being 246 per cent more than in 1934.

Los Angeles, with $31,672,m, towered above other Far Western .cities, while more than doubling the 1934 building permit values. Long Beach, with $6,864,000, gained 161 per cent over the pre'ceding year, and Spokane, with $1,564,000, also more than doubled the 1934 showing. San Francisco had $11,304,000 and seattle $3,575,000 in 1935.

Permits issued in the 10 largest Coast cities :

December building in these 10 cities $'as up 148 per cent over the 1934 month. The total was $7,649,000 roundly, against $3,084,000 in the i934 final month.

Seattle had a whopping big month, with some $940,000 in permits, contrasting with the poor month last year, with $98,000. The gain was 859 per cent over a year ago and 160 per .cent over November, when permits lvere roughly $362,000.

Al1 the 10 cities but San Diego had gains over a year ago for December. Those besides Seattle with gains of more than 100 per cent were Los Angeles, 193 per cent; San Francisco, 182'per cent; Oakland, 235 per cent; Portland, 127 per'cent; T'acoma, 157 per cent, and Spokane 145 per cent.

December Permit Values

(In thousands of dollars)

FARM MAC}IINERY SALES UP 75 PER CENT

Sales of agricultural machinery manufacturers during 1935 are estimated to have exceeded 1934 by about 75 per cent, ac,cording to the Standard Statisti'cs Company.

PRELIMINARY STATEMENTS SHOW BIG GAINS IN LIFE INSURANCE SALE,S

fn,complete returns from major life insurance companies indicate that the people of the United States "went to town" in purchasing life insurance and investments in annuities during 1935.

Early estimates are that the life insurance ,companies have, in the aggregate increased their assets to the total of more than $23,0m,000,000.

D. H. Doud Opent Los Angeles Ollice Opens San Francisco Sales Office

D. H. (Don) Doud has opened a. sales office in the Petroleum Securities Btdg., Los Angeles, and will represent the Anderson & Middleton Lumber Co. of Aberdeen, Wash.; Polson Lumber & Shingle Co. ancl Polson Mill Company of Hoquiam, Wash.; and Hart Mill Company of Raymond, Wash. These mills manufacture Old Growth Douglas Fir, Hemlock and Spruce with a combined daily capacity of 1,000,00O board feet. The Polson Lumber & Shingle Co. also make the well known Shawnee Brand of Western Red Cedar shingles.

Anderson & Middleton Lumber Co., Polson Lumber & Shingle Co. and Polson Mill Company, long established lumber manufacturers in the Grays Harbor district with large timber holdings, have been cargo shippers into the California market for many years. The Hart Mill Company, recently organized, have taken over the Hart-Wood Lumber Co. mill at Raymond on Willapa Harbor and are well equipped to handle California cargo shipments.

Mr. Doud has been connected with the sawmill end of the business in the Northwest for a long period and is widely known to the California lumber trade' He was formerly sales manager for the Defiance Lumber Co. at Tacoma, Wash.

Bill Clarkson \(/ith Chamberlin

W. J. "Bill" Clarkson, well known Bay district lumber salesman, is now with W. R. Chamberlin & Co. San Francisco, covering the San Francisco, East Bay and Peninsula territories.

Keeps In Touch With California Situation

I enjoy very much keeping in touch with the California situation through your paper, and this is about the only news that has reached me during the two years I have been away from Los Angeles.

H. Bruce Wiscomb, Eastern Sales Manager, Harbor Plywood Corporation, Chicago, Illinois.

Clover Valley Lumber Company, Loyalton, Calif., has established a sales ofifice at Zffi California Street, San Francisco.

Announcement is made by vice president and general manager C. D. Terwilliger that C. W. Kempter has resigned his position with the California Pine Box Distributors, and is again associated with the Clover Valley Lumber Company, in charge of their San Francisco sales office.

Leigh R. Putman

Leigh R. Putman, vice president and market editor of American Builder, died suddenly at his home in Evanston, Ill., December 28, due to a heart attack. IIe lvas 6O years of age.

He was born in Fayetteville, Ark., and after completing' his school and college training became connected with the lumber business in Arkansas. His advertising and merchandising ability as a retail dealer and his sales promotion work attracted wide attention of Southern Pine manufacturers and in I9l7 he was appointed manager of Advertising and Trade Promotion for the Southern Pine Association with headquarters in New Orleans. He served in that position until late in I92O when he was selected as executive director of the newly organized American Wholesale Lumber Association, which post he filled until the organization was merged with the National Wholesalers Association. Early in 1925 he again became connected with the Southern Pine Association'as merchandising counsel serving until December, 1931, when he became affiliated with the American Builder in Chicago.

He is survived by his wife, a daughter and four sons. Funeral services at Fayetteville, Ark., on December 31.

Enters \(/holesale Business

P. E. "Pete" llanson has opened an office in the Financial Center Bldg., Los Angeles, where he is carrying on a wholesale lumber business in softwoods and hardwoods' "Pete" is well known in Pacific Coast lumber circles. He was formerly in the wholesale lumber business in Seattle for many years, and also operated a retail yard there for four years.

STEAMERS

Aberdeen, Waelr" Santiam Floquiam, Vach. Trinidad

Batbara Cates

Aberdeen, \Pash. Dorothy Cahill

Raymond, Vach. Edna Chrictenron

Branch Ofices: SEATTLE National Bank of Commerce

Jane Christenson

Annie €hristenson

Edwin Christenson

Catherine G. Sudden

Eleanor Christeneon

Charles Christenson PORTLAND

200 Henry Bldg.