\(/est Coast Ass'n Stockholders To

Meet at Tacoma

Seattle, Wash., May 18.-By direction of the Board of Trustees of the West Coast Lumbermen's Association, the letter reproduced below has been mailed to the stockholdbrs of the Association calling for a m,eeting on Tuesday, May 31, at Tacoma, Wash., to take final action on the resolution passed by the Trustees on May 17.

"The following resolution was adopted by the Board of Trustees of the West Coast Lumbermen's Association on May 17 z

"'That the Board of Trustees recommend to the stockholders of the Association that the payment of dues under membership contracts be terminated with and including the dues payable on business conducted during the month of April, 1932; that the Association services be terminated on June 1,1932; and that the Association proceed thereafter to liquidate its current obligations and affairs while retaining its corporate existence.'

"The Trustees also directed that a meeting of the stockholders of the West Coast Lumbermen's Association be called at Ta'coma, Washington, on Tuesday, May 31,-to consider and take final action upon the foregoing recommendation. The meeting will be held at the Winthrop Hotel in Tacoma, at 10 a.m.; and this is your offi,cial notice, under the By-Laws of the Asso.ciation, of the call for the meeting and its purpose.

"On account of the trade and good will value of the name of the West Coast Lumbermen's Association, its trade mark, and its registered symbol, the Trustees do no re,commend that the Association be disincorporated; but this subject and any related questions may properly be considered at the meeting on May 31, if desired by any stockholders.

"The primary reason for this drastic re.commendation from your B.oard of Trustees is the lack of interest and support on the part of a sufiicient proportion of th'e industry to justify further effort to maintain the Association.

"The present financial situation of the industry makes it doubly difiicult to ,carr)' on a cooperative organization without the united support of all West Coast loggers and lumber manufacturers.

"The Trustees fully appreciate the losses that will be sustained by the industry from termination of the services of the Association in lumber grades and inspection, in traffic matters, trade extension, industrial statistics and representation of the industry in national matters. The Association is entirely solvent; in fact, has a small reserve in excess of liquidation requirements. But-for the reasons above given, which have made the continuation of Asso.ciation work increasingly difficult during the past six months -the Board of Trustees has reluctantly come to the conclusion that its only ,course is to recommend that the stockholders terminate the a,ctive work of the Asso,ciation in the near future, providing, of course, for a proper and orderly liquidation of its outstanding obligations and affairs.

"You will fully appreciate the importance of the stockholders' meeting on May 31. The work of the Association can be terminated only by vote of its members and the importance of this step requires their most earnest consideration. .Your attendance is stronglv urged."