I.AMOIU. BOtTtTilIGTOtU COMPAIIY

DOUGLAS

\THOLESALE LUMBER

CAB AND CANGO SHIPMENTS

16 Cclilornia SkeeL Scm Frcmcisco Telephone GArlield 6881

PORTLAIVD OFFICE-PITTOCK BLOCK

\(/.yerhaeuser Announces a Class 3 (Titfe 1) Service

Of unusual interest to lumber dealers is the announcement made by Weyerhaeuser Sales Company and Wood Conversion Company that Class 3 (Title l) deals are now covered by the ABC Monthly Payment plan.

This new small home loan plan, according to Allied Building Credits, Inc., makes it possible to build homes and summer cottages rvith loans up to $2500, payable in month_ ly installments for various terms up to a maximum of 15 )'ears, with an investment in property, in land, or an interest in land in an amount equal to 5% ol the appraised value of the completed property.

The service is made available by Alliecl Building Credits, Inc., to customers of Weyerhae,rrei Sales Company and Wood Conversion Company who are regular users of the ABC Monthly Payment Plan.

From the beginning of FHA, Weyerhaeuser has insisted that lumber dealers should be in position to maintain installment selling services rvithin their establishments and the policy of the Company has been to work to this end as rapidly as possible. With the addition of Class 3 to the ABC Monthly Pavment Plan, Allied Building Credits, Inc., has now reached its objective as the services offered norv include all FHA plans as well as a Supplementary Plan rvhich broadens greatly the scope of Title 1.

ABC Class 1 (Title 1) covers repairs, alterations and improvements of existing structures. Class 2 (Title 1) covers erection of new structures not to be used wholly or in part for residential purposes. The Supplementary plan covers repairs, alterations and improvements of existing structures and, under certain conditions, the completion of unencumbered dwellings in large amounts and for longer terms than are available under FHA.

New residential construction is included in the ABC Title 2 service and in the Class 3 (Ttitle l) plan just announced. Summer cottages are also eligible under the llew program.

Class 3 (Title 1) has been widely discussed in the retail lumber industry. Since its inception dealers have insisted that such a service was vital to their success in selling homes and summer cottages but were usually unable to obtain satisfactory outlets for mortgages of this type. Only in a few scattered locations were financing instiiutions willing to take the paper. The ABC Class 3 (Title l) service is the first to be offered to lumber dealers on a national basis.

Since 1934 Weyerhaeuser has played a major role in pron.roting the use of installment selling by lumber dealers. Allied Building Credits, Inc., organized in 1937, already occupies a dominant position in the field. The growth of the Company has been rapid from the beginning and offices are now maintained in Saint Paul, Minneapolis, Chicag'o, Nevi'ark, Tacoma, Boston, Buffalo, philadelphia, Pittsburgh, Salt Lake City, Dallas, Kansas City ancl Tampa. A corps of field men cover most of the states where the Company operates and the volume of business handled has already reached large proportions.

TOOITOWPRICES...T?

Lower prices that result from ef{iciency in mcmogement ond produc- tion benefit producers ond consumers olike, but rower prices that are the result of "chiseling" ol the loborer cnd the socrifice ol foir prolits, ruin business qnd degrcde the stqndcrds of the industry.