CALIFORN IA

\(/HOLESALE LUMBER ASSOCIATION

San Francirco Office: Merchants Exchange BIdg.

S. M. Hauptman, Gen. Mgr., Phone SUtter 6126

Lor Angeler Ofrce: Petroleum Securitiel Bldg.

Ctint Laughlin, Dirtrict Manager ' Phonc PRorpect 2703 MEMBERS

W. R. Chambcrlln & Co. ......SuFrucbcoendl.cAn;r-lcr ooitJiin iumt r Co. .........'Su Fnncllco end Lc Aniclcr

Eectcrn & Wertem Lmber Co...'.......'..'.......Portlud and San Franclrco

Jamer L. Hall "....'.San Frucirco

.1. C. Hamiltm Bu & Lmber Co. .......'..... .San Francirco

Hammmd Lunbcr Co. .'....'.Su Francbco and Lc An3cler

J. n. nentfy Cc ....'......'. ..SanFranclrcoand-Lo-AnSclor

Hut-Wod Lubcr Co. .........'..' ....'.......'.San Fnncbo

A. B. Joborcn Lumber Co. .....San Frreim

C. D. Jobnron Lumbar Co. ....Su Francl,ro en{ LoqAngclcr

Al"ir N. Lol3rcn ........,.......'...,.'.'. '.......San Frucis

MacDomld d Harrlngton .....S41 Fmcbco rnd- Lc-An3cla

A. F. Mahony Lumbci Co. .......'.'... ........-..San Fnncleo

Ctr"i. n. McCcmlck Lumber Co. ........'..'...Sal Fruclrco rnd Lc Anlclcr

McCqmick Supply Co. ........Sm FIuciro ud llr Argclc

W. f. n{"tllgao-ai C". ............'...........'..San Fmicrco and- Lo An3eler

Charler Neb-m Co. SanFnnclrcoandl.oeAn3alo

P*rmino Lmber Co. ..'.......3an Frmdo

Srnta Fe Lumber Co. '. ' 'San Francicco and Lc Angelcr

Sud&a & Chrirtcron .'......San Franciro and Lor An3olu

Trcwer Lumbcr Co. ..,,....,..... .,......,'..'....SanFrancis

Wcndling-Nethan Co. .,.,...., SuFrucismd,Lc-An3clc

R. O. WItm & Son ..,,,.,.., Su Fruclrco

Wilon Bru. & Co. ....,.,.. .,SuFnnciscoandlaAntolcr

E. X. Wma Lumbcr Co. .....SrnFmci*orndloAnlclcr

Hlll & Morton, lnc' '...,'.'.... .......OrLhnd

F"n-la Lumb; sal6 co. '."""""""'oddlnd

Biodcl-Donovan Lunbcr Mlllr and having maturities not to exceed six months may be classed as ordinary commercial loans, provided that no National Banking Association shall invest in excess o{ 50 per cent of its actual paid in and unimpaired capital, and provided further that notes representing such loans shall be eligible for discount as commercial paper within the terms of the second paragraph of Section l3 of the Federal Reserve Act if they are accompanied by a valid and binding agreement, to advance the full amount of the loan upon the completion of the building, entered into by an individual, partnership, association or corporation acceptable to the discounting bank. (Applies to all member banks of Federal Reserve system.)

Section 506-(Amending Home Owners' Loan Act of 1933).

To provide for the issuance of an additional billion dollars of bonds for the purpose of refinancing distressed mortgages.

Is further amended to provide an additional $100.000,00O for the purpose of modernizing properties on which the Home Owners' Loan Corporation holds mortgages.

(Amendments to make total authorized issue of bonds and debentures by the Home Owners' Loan Corporation for the refinancing of distressed mortgages, equal to three billion dollars. Three hundred million of this bond issue is set aside for repair, modernization and alteration of homes mortgaged by the Corporation.)

Section 51l-(Amending the Interstate Commerce Act).

The Interstate Commerce Commission is authorized to reduce rates, for a period to be specified, on commodities, to be specified by the Commission, where in the judgment of the Commission such reductions will aid in improving nation-wide housing standards, and provide employmeut and stimulate industry.

Attends Convention At Grand Rapids

Fred A. Chapin, Fred A. Chapin Lumber Co., San Bernardino, left on July 13 for Grand Rapids, Mich., where he is a delegate to the Lions Club International convention. He was recently elected president of the San Bernardino Lions Club for the ensuing year. His son, "Tommy" Chapin, is in charge of the yard during his absence.

When You Sell

Structurat

Booth-Kelly Douglas Fir, thc Agsociation gradc and trade mark certify to your cugtomcre the quality of tho stock you handle. Builderc quit gueosing about what they're buying, and buy where they know what they'rc getting.

Gcneral Saler Ofice: Eugene, Orc.

Millr: Wendling, Ore., Springfield' Orc.

CALIFORNIA REPRESENTATIVES

Northcrn Crlifornir

Hill & Morton, lnc.

Dcnniron St. Wherf

OrLlmd ANdovcr 1077

Southcra Crliforah

E. J. Stenton & Son zl50

E. 3tth st..

Lor Angclcr

AXridsc 92ll