Over the Round Table

NEWS GATHERED FROM LUMBERMEN-FOR LUMBERMEN

George Melville Moves To San Diego

Mr. George Melville formeTly associated with the Unioh Lumber Company at Los Angeles, has joined the force of the San Diego Lumber Company, at San Diego, as manager of retail sales.

NATIONAL CREDIT AUTHORITY DEPLORES ..FEVERISH CONSTRUCTION PROGRAM''

J. H. Tregoe, of New York City, Executive lUanager of The National Association of Credit Men. made an announcement to his organization, and to the section generally, just a few days ago, that the average lumberman will undoubtedly read with interest whether they agree with Mr. 'Iregoe or not. He said:

"There is ,much horne building," he says, "but home building constitutes not so large a parf of the construction program as the erecticln of apartment, hotel and offi,ce buildings. All over this feverish construction program has been adopted and in my judgment the temperature is running dangerously high.

"The acquiring of comfortable homes by those who can buy them is a desirable thing for the country, for the new home owner becomes more settled in his ideas and takes ian increasing civic pride in his comnaunity.

"My apprehensions are directed to the larger building schemes many of which have been carried through for pro'motion purposes. So feverish is the activity that worktr-ren ,have been asking extraordinary wages and competition for 'labor has I'ifted prices in many places to a" point where it seems foolhardy to build, so great will the fixed charges against the structure be.

""Placing upon many of these large buildings bonded indebtedness that permits only a small margin between the bond issue and the cost of construction, makes it clear that unless ample provision is made t'o amortisb the b'onds rapidly, a shrinkage in value will put the credit in peril.

"Feverishness in any line is always attended with high cost and there follow in its train severe penalties. f cannot but forsee serious losses {or those who have been attracted by the high rate of interest given on the 5oncl and mortgage indebtedness.

"I refer to the sttbject, not as a word of discourage,tnent but to bring men everlastingly back to an appreciation of the uses to which credit safely can be put. The building ,program, of course, is on a credit basis, ancl I say that the iredits are not safe unless there is a reasonable ratio between owner investment and creditor investment."

Parafine Companies Establish Record

The Paraffine Companies Incorporated, manufacturers of Malthoid roofings, and the PABCO line of paints and varnishes, made what they claim to be a record in shipments for one month.

Last month they shipped from their Pacific Coast plantb, the enormous total of 3,051 carloads of various materials, this being a daily average ol ll2 carloads, or 44/o above the nor,mal amount of business done by this company.

GEORGE J. OSGOOD TO VrSrT LOS ANGELES

Mr. George J. Osgood, general manager of the Wheeler Osgood company at Tacoma, is expected in Los Angeles within a few days. Mr. Osgood will spend some time in the south, with his son Mr. Robert Osgood, manager of the Los Angeles offices.

MILL BUILDING AND FISH STORIES FROM PRATT & WARNER'IS HIGH SIERRA OPERATION

Mr. F. S. Warner, of [-os Angeles, has just returned from the Sequoia National Park where his firm Pratt &'Warner is engaged in buiiding a sawmill, and constructing a rpad, and building cabins, etc., all under unusual td'iffi'culties. But he found it most interesting country. They have five and a half miles of roadway completed, six cabins are finished, and the work on the mill is progressing grandly.

T,here is a very beautiful lake adjoining the Pratt & Warner property, Oriole Lake, thing of beauty, and famous for its fishing. Mr. Warner says he aske,d one of the old timers there if there was fish in the lake, an'd he replied 'that the lakei was loaded rvith them, but that they were'nt quite as voracious as in the "old days" when' all they had to do was throw q hook baited with bacon 'in the water and drag in the big.ones, and after they got'em in the boat they had 'to pound them' over the head with a paddle before they'd let go of that bait. But the fishin's still good.

And Pratt & Warner wil,L invite their friends and cus. tomers to come up'to Oriole Lake in the sum,mer, and stay at quaint and beautiful little Oriole Lodge, snowed under in winter but lovely in summer, and do their vacationing there.

The lake, the lodge, the mill, and the carnp, will all be interesting.

Here Pratt & Warner will produce their own lumber for their famous built-in specialties, a'mid scenery that is worth going far and staying long to see.