BAGAC F'looring FOR

Schools-,Stores-Buildings-Aparhents

The Crreatert Hardwood Flooring Value on the Market

A Dark

Mahogany C,olor that will not rhow Dirt

As Durable as Maple Long Lengths

Let us submit sdmples and quotations.

E. HTGGINS LUDIBER co.

SAN FRANCISCO

PHILIPPINE HARDWOOD SP.ECIALITiTS glass plants, sugar refiners buy cane plantations, tire manuIactuiers buy rubber and cotton plantations, canners subsidize fruit and vegetable growers.

Vertical Trusts Next?

And these two forms of intra-industrial competition become the logical basis of the vertical trust, in .which we may possibly see important developments in this country in the next decade.

The tragedies and comedies, with and without music,.of the curren-t business drama, are mostly expressions of this intra-industrial competition. Of course the struggle between the poor but -heroic small-town store and the rich, villainous mail-order house belong back almost in the days of the ten-twenty-thirty melodramas. The down-trodden corner grocer crushed under the cruel high-powered machine of the chain system is also not a new theme.

They cannot compare with the nation-wide pageantry oI the embattled department, dry goods and hardware stores, fighting the army of the house-to-house canvasser-with tlie rather anti-climactic last scene in, the Supreme Court.

They cannot compare with the nice clean iriangle'recent- ly in the news-the outcry of the.bakers' supply houses against the proposed big bakery merger which threatens to w:ipe out the small, independent bakers who are their customers.

Nor can they compare in beauty and vigor of dialogue with the resolutions adopted by the women's wear manufacturers and wholesalerl agaihst the resident buyer and the unspealable villainies of group-buying by department stores. -The drama becomes more and more interesting and exciting every day as more individuals and grouqs discover that thE real villaln who has been ruining their lives is not the other fellow across the street but the man higher up. During the next year or two we may see the business drama combiie the besi features of a Chaplin picture, Isben, the three-ring circus, Ilamlet, Luna Park and the Follies.

But thTs intra-industriai competition, this conhict of distributive pressures along the line of distribution, is or.rly one type oi tlie new competltion. There is the competition be' tween two divisions-of the same general industry which produce commodities used alternately. This type we rriay call inter-commoditv compeiition.

WHEN THE WiiARY RENT-PAYtrR DECIDES TO BUILD, HE BECOMES THE OBJECT OF COMPETI.

(Continued on Page 36)

MORRILL & STURGTON LUMBTR CO.

Portlrnd' Orcgpn

Fir Laminated Finishing Lumber

Avoid loss on account of warping, cheching, and splittin-g of your Fir finish lumber by placing your order with us for

GUARAI.ITEED "MORSTURG" I'AMINATED FIR FINISH

Either in straight carloads or in mixed cars with Doorg and Panels

CALIFORNIA SALES AGENTS

KNOX & TOOMBSi

Hoquian, Warh.

Malufacturcrr of Vertical Grein Fir Doorr

HARBOR PLYWOOD CO.

Hoquian, Warh.

Manufacturerr of fGreyr' Harbo/' Ycllow Fir

Laminatcd Panclr

Annu-al rings of trees crow:ng Svcr tnls

Red*'ooa show it has laia on moist ground over two centunes. It is sound; free from decay or cven worm holes.

Trees havc grown ovcr this buried Rcdwood for 350 years. But the cut irto thc old Redwood shows clear. sound wood fit to be sawn into highest grade lumoer.

Ovcr this 600 Ycar old Red' wood, trees closc to -200 vcars old have grown. Yct lhc cut shows -the buricd Redwood sound and frcc from decay.

Whg Reduood Satislies

Particular Customers

Thc lifc historv of thrcc Redwood trces that lic in thc California forests is thc bcat tc-stimony to Redwood's Dcrmanence and resist-a-nce -to rot' Thoqgh iistinl in miisa-s;;u;d iad ioveicd with mo,ss,, mold and forcst debris for from 250 to about 4(X) vears. not ole oI them rs decay-cs. Worms havc not borcd into thcm. Cut ihto at random, theil wood librc .is as bright and sound as that in a live Redwood just-fellcd' This rot-resistance carns Redwmd orcfercace ovcr othcr commerclal n'oods. aad explains ita increasing usi by buildcrr, architects and con' stfuctlon enSmeers.

Wdte for laformation on TPL Co. l*mbcr anil milluorh,

R#ffiffiffiffi

SAN FRANCISCO

Robcrt Doller Bldg.

3lI California St.

LOS ANGELES

Standard Oil Bldg., lfth and Hopc Str.

The Larsest Man*facturcrs and Distribilors of Catifqtio Reduooo

Members of CaWomia Reduood Association

Close your eyes and run your Gngers over the steel-polished surface of several pieces of t'Ever' lasting" fooring, and you will not be able to detect where they are joined, so perfect is the matching. Such quality is achieved only by eternal vigilancea system of rigid inspection continuous throughout manufacture.

Nicholc & Cox Lumber Co., Giand Rapidr, Michigan Cattet of fne tood rlorling