Vagabond Editorials

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Labor troubles in the lumber industry of the entire Pacific Coast are on the increase, with no relief in sight at this moment. The lumber market elsewhere is, of course, very good, by reason of the eiimination of the tremendous Western industry.

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There are a hundred thousand fairly decent jobs open in the lumber industry of the West. And all over the country, in transportation and building lines, almost countless thousands of other men and their dependents lack work because those jobs are idle. But there is no relief in sight.

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A good banker friend of rnine told me again the other day that his bank is heaped high with millions they want to loan, but can't. And they can't make any money running that bank until they get their money out at interest. He said, "Those we would like to lend to, don't want the money, and those who want the money have no assurance of repayment." f offered to lighten his load a million, but he suggested that I repeat over again what he had just said. I got the idea.

But the money he and other bankers have heaped high would put all our unemployed to work if that money was

FHA Reduces Intcrest Ratcs

Washington, June 23.Interest rates on insured refinanced mortgages today were reduced by the Federal Housing Administration from 5l per cent to 5 per cent. The Housing Administration also reduced the premium on refinanced mortgages to I of 1 per cent, the same as new refinancing. Previously it had been 1 per cent.

Cords-Coxhead

D. Normen Cords, salesman for Chas. R. McCormick Lumber Company, San Francisco, was married to Miss Ruth Eleanor Coxhead in Reno, Nevada, on Saturday, June 15.

Mr. and Mrs. Cords will make their home in Berkeley.

S. P. Milling Co. Buys Salinas Yard

put to work. But this high-heaped cash condition of the banks is a bad sign. It is a sign that those who own money would rather leave it in safe keeping, with little or no interest, than trust it to the hazards of investment.

It really isn't the bankers that cause the money jam. If YOU had a million dollars on deposit in a bank and found out that that bank was making a lot of loans, you would probably change banks. And if you think the present gang of laws in the making in Washington, like the labor, bank, holding company, social security, and tax laws, are loosening up any of our hoarded money-you've got another thini< coming.

We've heard a lot of "frozen assets" in the past several years. My idea of a real frozen asset is the money that belongs to a citizen who is frightened by radical legislation.

Speaking of money, the five billion dollar relief fund is NOT to be spent politically, so we are told. I'm sure of that. And, water will stop seeking its level, and lovers will cease to like moonlight, castor oil will become childhood's most popular confection, while carbolic acid will come into common use as a mouth-wash.

Pine Mill to Start July 1

Meadow Valley Lumber Company has bought the timber and sawmill of the Spanish Peak Lumber Company at Spanish Ranch, Calif., near Quincy.

The officers of the company are Will F. Morrish, president; B. W. Adams, vice president and general manag'er, and Earl L. Miller, secretary-treasurer.

Mr. Adams was for many years sales manager of the lumber division of the Fruit Gowers' Supply Company, San Francisco, and for some time was sales manager of the Pickering Lumber Company at San Francisco. Later he was manager of the Feather River Lumber Company, Delleker, Calif.

It is expected that the plant will be in operation by July l.

Recalled From Trip

Henry M. Hink, sales manager, Dolbeer & Carson Lumber Company, San Francisco, was recalled from a business trip io Southern California by the sudden death of his mother, Mrs. Metta Hink of San Francisco, on Thursday, June 13.

Modernization and Repairs Total $ 428,541,779

Figures announced by the Federal Housing Administration, supplemented by encouraging building and business reports from all sections of the country, are evidence that a very large amount of repair and modernization work, as well as new construction, is scheduled for the current summer.

Property owners of the nation, as of June 8, had pledged to spend $428,541,779 for modernization and repair work in connection with the better housing program. This is an increase of $12,616,038 over the total of the previous week. Total funds advanced under the modernization credit plan amounted on June 8 to $79,269,8@, which was a gain.of $3,436,776. Apparently there was no decline in the number of persons who decided to spend cash for improvements inspired by the better housing program, for the amount of credit advanced was far below the estimated amount of work carried out.

The number of community campaigns organized or in the process of. organization reached 7,933, with 155 chairmen appointed during the week.

A,pplications for mortgage insurance totaled $67,104,533 on June 8. This is a gain of $7,631,283 over the previous seven day period. Commitments totaled $27,963,156 on that date, an increase ol $2,425,399. Thirty-five per cent of this total was for new homes.

Forest Service Awards Contracts For Air Patrol

The U. S. Forest Service headuarters in San Francisco today announced the award of contracts for airplane service in forest fire protection in California for the 1935 season to the Duck Air Service, Oakland; Schneider Air Service, Fresno; and Dan T. Moran Co., Monrovia. Three planes will be available on call for the fourteen national forests north of the Tehachapi, two from the Duck Service and one from the Schneider Service. and the four southern forests will be served by the Dan T. Moran Company.

For the first time, forest offic'ers state, this year's contracts provide that all planes used in fire protection must be equipped to handle Forest Service two-way ultra high frequency radios for communication betrveen aerial observers and fire camps. Planes are used by forest officers for scouting large fires and patrol when heavy smoke and fog interfere with the visibility of the national forest lookout system. Landing fields are now located in or near all of the national forests in California.

During the season of. 1934 the flying time of four planes used in fire pgevention work by the Forest Service was 222 horirs without an accident. The forests of northern California used 169 hours, with 53 hours in the southern forests.

Shingle Mill Installs Dry Kilns

The latest Moore type dry kilns with a capacity of 11,10 squares are being installed by W. P. Mclntyre & Son, Fortuna, Calif., manufacturers of Redwood shingles. Parker Mclntyre is manager of the company.