FHA Reports Lumber Sales lncreasing

Washington, May 3O-After nine months of existence, the Federal Housing Administration has created a substantial amount of business for the building industry, and is still going strong.

On May 18, property owners throughout the country had pledged, under the stimulus of the better housing prograrn, $lc|,042,M2 worth of modernization and repair. This is an in'crease of $8,274,646 for the week ending on that date. The majority of pledgers indicated their intention of paying cash for the improvements. Credit amounting to W9,199,582 had been advanced to 166,4% applicants under the terms of the modernization credit plan of May 18. This represents an increase of. 8,917 credit advan'ces amounting to $3,€1,127 for the week.

Insurance contracts issued to lending institutions totaled 13,36 on May 18. This is an increase of 33 for the week. There were 7,626 community campaigns organized or being organized on that date, 159 having been added during the week.

Insured mortgage applications amounting to $46,715,303, of which, 33 per cent was for new construction, had been received on May 18. Commitments issued to mortgagees to insure mortgages when executed.

ACTIVITY IN THE IV\/EST

The Blanchard Lumber Company, which operates throughout the San Fernando Valley of California has sold more lumber in the last two months than sold during any other two months in the past 10 years. The greatest worry, an offi,cial of the company stated, is the difficulty in obtaining adequate supplies of lumber. The company has recently failed to bid on two large jobs because its stock of lumber was low and its was unable to obtain immediate delivery of a sufficient supply to carry out the contract.

Tucson, Ariz., has 61 houses under construction which are keeping the lumber yards busy with orders.

Financial institutions in Reno, Nev., have advanced modernization credit amouhting to $119,000. Building permit figures during the past few months has reflected this, and permits for new residential construction and repairs for April, 1935, were more than four times as great as those for the same month a year ago, according to figures from the Bureau of Labor Statistics. Residential construction figures were $13,500 as compared with a total lack the year before ; repair figures were $16,7@ as compared with $7,243.

The "Lender-Seller Cooperative Plan" re,cently inaugurated throughout northern California has produced outstanding results. Working under the new plan, the Bank of America, in its northern California branches alone, approved during a recent week 228 applications for modernization credit under the terms of the National Housing Act, amounting to $101,257. The American Trust Company, which is also cooperating, approved 216 applications for $65,000 during the same week, which was an increase of 69 per cent over business done during the previous week.

The first two days of the Willits, Calif., better housing campaign committee's ,canvass brought in $65,000 worth of pledges for modernization and repair.

Building permits for both new residential constru,ction and repairs in Denver, Colo., showed a decided increase during the month of April over the same month a year ago, according to figures from the Bureau of Labor Statistics. New construction figures were $219,100 as compared with $73,000; and repair figures were $91,750 as compared with $68,454.

The manager of the Santa Fe, N. M., branch of the Albuquerque Natural Gas Company recently reported that during the months of January, February, and March, its sales of appliances increased 276 per cent, 288 per cent, and 134 per cent respectively over the same months last year. The manager further states that the increase is directly attributable to the house-to-house canvass conducted by the better housing program committee, from which their salesmen have obtained lists of prospects.

An estate in Juneau, Alaska, which owns a considerable amount of residential property, has submitted applications for insured mortgage loans totaling approximatley $25,000 for seven new houses in Juneau.

A shortage of building mechanics in Juneau has made it necessary to import a number of carpenters, heating and plumbing workers, and other types of artisans from Seattle. It is expected that with the continued momentum of the better housing program, the shortage will become still more acute, and it will be necessary to import additional workers.

Mr. C. H. Duran, a paint dealer of Red Bluff, California, recently stated that the better housing program is responsible for a great improvement in his business. Whereas last year his business was "not looking so. well", at the present time it is so good he says he "can't go fast enough to keep up with the demand." The national company whose products Mr. Duran handles, has placed him almost at the top of all dealers in northern California because of the improvement of his sales record.

Plywood Association Electg Olftcers

E. Q. Walton, Oregon-Washington Plywood Co., Everett, 'Wash., was elected president of the Douglas Fir Plywood Association at a meeting recently held in Tacoma.

E. E. Westman, Washington Veneer Co., Olympia, was elected vice president; N. O. Cruver, Wheeler Osgood Sales Corporation, Tacoma, was elected treasurer, and M. Sekstrom, Olympia Veneer Co., Olympia, was elected secretary.

The members of the executive board include A. R. Wuest, Harbor Plywood Corporation, Hoquiam, Wash.; Bruce Clark, Elliott Bay Mill Co., Seattle; J. R. Robinson, Robinson Mfg. Co., Everett, 'Wash., and Neil Malarkey, Portland (M. & M. Plywood'Corporation, Longview).