East B.y Hoo Hoo Club Urges Passage Home Loan Bank Bill

East Bay Hoo Hoo Club No. 39, of Oakland, Calif., has forwarded letters to United States Senators Hiram Johnson and Samuel Shortridge of California, James E. Watson of Indiana, and Congreisman Albert E. Carter of Oakland, Calif., urging prompt action by Congress on the passage of the Luce-Watson gitt which proposes the formation of Home Loan Discount Banks. "Any additional support that can be secured will be justified and will be well worth while for all building interests," states the Club's Committee on Legislation which includes Ray B. Cox, L. J. Woodson and Frank Trower. A copy of the letter follows:

"Honorable Sir:

"The East Bay Lumbermen's Hoo-Hoo Club No. 39 at their regular meeting adopted a motiron favoring the enactment oI the Federal Home Loan Bank bill which is now before the com'mittee for hearing. We most respectfully urge the prompt passage of the Luce-Watson bill.

"It is believed that the enactment of this measure will relieve greatly the pressure on hqme loan borrowers and will stimulate home building in locations properly needing new homes.

"We also believe that it will revive and stimulate confidence on the part of anxious citizens. It will help many industries that are directly and indirectly affected by building activity.

"While the Emergency Reconstruction Financing Corporation has given some aid to Building and Loan Associations and mortgage companies, our organization feels that a clearing house for small home loans should be permanently established. We believe that such a federal baqk would work to relieve many abuses now existing i4 the home loan business.

"The East Bay Lumbermen's Hoo-Hoo Club No. 39 at resents all branches of timber and lumber business used in building construction, especially for the finished home.

"Thanking you for the representation given us in the National Congress, we remain

"Very truly yours,

"HOO-HOO CLUB No. 39.

LVD-cc

' " Blr. Book" Reports Businesg Statistics

Chicago, I'eb. ZS.-Claims placed for collection during January increased 100 per cent over those for the same month a year ago and the average amount was 50 per cent greater, the Lumbermen's Blue Book states in its monthly ieport to The Lumber Market. Collections were a little slower, which the report attributes as "possibly due to bank troubles, and the fact that there was not as great a liquidation of inventories". No great increase in requests for special credit reports was noted.

Comparison of vital business statistics as given in the report shows bankruptcies 23 as against 14 a year ago; receiverships 14 as against 10; extensions requested 7 as against 3; creditors' committees appointed 4 as agains-t 1 ; assignments 8 as against ?, and adjusted or "composition" settlements 4, as against 2 in Jantary of last year.

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"Red" Wood Saysl

*Durability ir what natute haa so pooitively given to Redwood and what rcience endeavotc to give to other woods.

Tests made by the U. S. Forest Products Laboratories et Madison, Wisconrin, definitely illustrates Redwood's durability. This important authority rates no wood higher than Redwood for durability."

Leonard C. Hammond Heads Radwood Association

Leonard C. Hammind

Leonard C. Hammond, vice-president Hammond Lumber Co., was elected president of ihe California Redwood Association at the annual meeting of the Association held in lan.Francisco, January 28. A. S. Murphy, president of The Pacific Lumbei Company, rvas chosin"as vice-president, 3"d .C. H^. Griffen, Jr., iormerly of Homer T. Hayward I-umber Co-., Santa eraz, and a-prominent figure in-retail lumber -circles, was appointed general manager.

The directors were all re-elected and C. J."Wood, Caspar Lumber Co., was added to the board. ThL other direct^ors are_ Otis Johnson, Union Lumber Co.; Fred \r. Holmes, Holmes-Eureka Lumber Co.; Henry M. Hink. Dolbeer & Carson Lumber Co.; J. M. Hotchkiss, Hobbs Wall & Co., and the president and vice-president.

. A hearty_yole_ gf thanks rvas given to the retiring presi- dent, Fred V. Holmes.

It was decided that the Association will do a considerable amount of field work in 1932, and plans for this will be announced soon.

John Kendall Vtsits Caltfornta

John Kendall, Potlatch Lumber Co., Spokane, Wash., has been spending a few weeks in Los Angeles. Mrs. Kendall accompanied him on the trip.

FORMER LUMBERMAN VISTTS S. E. BAy DrST.

William M. Gunton, of Chicago, retired lumberman, left for his home February 24 after a month's visit at the home of his son, Howard M. Gunton, of MacDonald & Harrington, San Francisco.

Relax Anti-Trust Laws

At last proposals for revision of the anti-trust laws have come before Congress in the definite form of a bill. Senator Steiwer has introduced a measure which would suspend limitations on the right of competitors in certain industiies to make agreements pending the report of a joint committee of Congress on general and permanent revision of the anti-trust laws. The suspension would apply to industries founded on natural resources of minerals and forests. Agreements under the suspension would be subject to approval or nullification by the federal trade commission.

Senator Steiwer cited the condition of the lumber industry as an example of the need of early relief. Demand exists for only about a fourth of produqtive capacity, but the law forbids indep.endent units to agTee on apportion- ment of production to equal demand, thbugh the-liw per- mits one lumber company to buy another. - Thus the way is open to formation of a small number of large units, which could more easily make restrictive agreemints. By this means great combinations in manufacturing industries have been made within the law, but the full force of the prohibi- tion falls on lumber and forces its many units to fractice ruinous competition.

Suspension of the limitations imposed on trade agreements is proposed for natural resource industries be&use they impose utter waste of resources which have certain. though unknown, limits. If lumbermen were permitted to combine for. regulation of production and expansion of markets, timber would be cut with economy and an incitement would be given to reforest. Thus the'industry would perpetuate the forests by reproduction. Similar .onditions ex.ist in the .petroleum industry, and in copper and other mineral production. The law would not bi-relaxed as to food products.

The Steiwer bill has the merit of giving early relief to industries where it is urgently neededind it the same time of providing for thorough investigation and deliberation with a view to permanent and general amendment. The original law has stood for forty-1*o years and profound changes have taken place since the Ciayton law'was en, acted. It is time that all laws dealing with combinations be revised in ttre lig_ht of experience aid of changed condilons.-Editorial, Morning Oregonian, portland-, Oregon, February 70,1932.