Joins Allied Building Credits, Inc.

Frederick M. Babcock, assistant administrator and director of FHA's Underwriting DiVision, has resignecl to join the executive stafi of Allied Building Credits, Inc., Weyerhaetrser affi liate, according to announcements made concurrently by Stervart McDonald, FHA Administrator, &rd F. K. Weyerhaeuser, president of the Finance Company. Mr. Babcock will assume his new duties at once and will main-

--Cotyrisht by Hanis & Euirs tain headquarters at Saint Fredericl!/LBcbcocl paul where the genera1 offices of the company are located.

For the past six years Mr. Babcock has been director of the Underwriting Division of FHA during which time he established FHA's risk rating system for sele'cting mortgage investments, a procedure which has become a nationally recognized institution in mortgage lending practices.

Under his direction the FHA's lJnderwriting Division has approved insurance on small home mortgages numbering 7C0,000 a.nd valued at almost $3,000,000,000. Net charges against reserves amount to less than 2/I00ths ol l/o of mortgages insured, according to statements released by FHA in announcing Mr.. Babcock's resignation. The principles established under his direction have enabled home buyers and lenders to obtain a measure of protection never before available.

Before coming to the FHA, Mr. Babcock was appraisal adviser to the Prudential Lnsurance Company of Newark and previously was a partner in the firm of William H. Babcock and Sons, Ch'icago, real estate valuators and consultants. He is the author of "The Valuation of Real Estate" (McGraw-Hill Company 1933), "The Appraisal of Real Estate" (MacMillan 1924) as well as numerous treatises, research studies and. magazine articles on real estatd, mortgage and appraisal subjects.

While Allied Building Credits, Inc., is a comparatively nerv company, it has enjoyed substantial growth in the financing field. It operates exclusively through retail lumber dealers and provides a wide variety of installment financring services, including all types of FHA loans as well as supplemental services developed to meet special needs of lumber dealers.

The development and rapid growth of Allied tsuilding Credits, fnc., has been widely regarded in the lumber industry as one of major importance since it is entirely sympathetic to the problems of the lumber dealer. It came into the field when FHA was havi:ng considerable difficulty obtaining the active cooperation of local lending agencies and provided dealers with needed facilities to enable them to make maxirnum use of the pr,ovisions of FHA. When Title l expired on March 31,1937, Allied Building Credits, Inc., immediately made available a comparable service to take its place until Title I was reinstated by Congress. Since that time it has added supplemental services tb include deals not eligible under FHA and only recently announced a Class 3 (Title 1) Plan covering small house loans up to $2,500.00 for terms as long as 15 years. According to officials, ,it will be the policy of the Company to continue to study all finanoing needs of lumber dealers and home owners and provide services of the widest possible coverage.

"\Me consider ourselves fortunate in obtaining the services of Mr. Babcock as an operating executive," said Mr. Weyerhaeuser. "He is recognized as €r1r outstanding authority in the mortgage field and his wide olperience will be particularly valuable at a time when we are giving special attention to the formulation of plans and policies designed to meet the present and future financing requirements of lumber dealers."

In addition to the general ofifices of the Company which are trocated in Saint Paul, Allied Building Ctedits, Inc., nol operates branch offices at Newark, Boston, Buffalo, Philadelphia, Fittsburgh, Chicago, Kansas City, Tampa, Dallas, Houston, Oklahoma City, Tacoma, Minneapolis and Salt Lake Citv.

Wholesale Hardwood Distributors at Victoria

Group picture taken at the annual convention of the Pacific Coast Wholesale Hardwood Distributors Association held at the Empress Hotel, Victoria, B. C., August D, 30 and 31, 1940.

Front Row: Left to Right-P. R. Kahn, Forsyth Hardwood Co., San Francisco; P. J. Ahern, Emerson Hardwood Co., Portland; J. W. Sumrall, Matthews Hardwoods, Inc., Seattle; Norman C. Sawers, J. Fyfe Smith Co., Ltd., Vancouver, B. C.; K. L. Bates, Matthews Hardwoods, Inc., Seattle; W. F. Fahs, California Panel & Veneer Co., Los Angeles.

Middle Row: Left to Right-LeRoy Stanton, E. J. Stanton & Son, Los Angeles; Frank J. Connolly, Western Hardwood Lumber Company, Los Angeles; Dallas Donan, Ehrlich-Harrison Co., Seattle; John Clugston, Hardwood Institute of Southern California, Los Angeles; Jack Murphy, Owens-Parks Lumber Co., Los Angeles.

xoonl3 nEvln3lBL8

Cno88 Circulation Kilns

25y'o ro 5O/o anore capacity due to colid edge-to-edge rtacking' Bettet quality drying on low tcmporanrrcr with a fart rcvcrribrc circulation.

Lower rtacking corts--just rclid edge-to-edge stacling in the simplest form.

Top Row: Left to Right-N. J. Sorensen, U. S. Plywood Corp., Los Angeles; Fred Smales, U. S. Plywood Corp., San Francisco; J. Fyfe Smith, J. Fyfe Smith Co., Ltd., Vancouver, B. C.; G. A. Strouse, Matthews Hardlvoods, Inc., Seattle; A. E. Wanke, Wanke Panel Co., Portland.

Usc

Paint Producc for weatherproofing your &y kiln and mill roofc.

North Portland, Orc. Jactronvilte, Ftori&

\(/HEN YOU SELL

Booth-Kelly Douglas Fir, the Agsociation grade and trade mark certify to your customers the quality of the stock you handle. Builders quit guessing about what they're buying, and buy where they know what they're getting.

General Sales Office: Eugene, Ore. Mills: Wendling, Ore., Springfield, Ore.

Disenchantment

"The freedom of Europe," "The war to end warr" "The overthrow of militarism," "The cause of civilization,"most people believe so little now in anything or anyone that they would find it hard to understand the simplicity and intensity of faith with which these phrases were once taken among our troops, or the certitudes felt by hundreds of thousands of men who are now dead, that if they were killed their monument would be a new Europe, not soured or soiled with the hates and Ereeds

*{(* RUIN HIS CLOTHES

"Do you like short skirts, Mike?"

"Naw, they get lipstick on me shoit when I dance with them."

unrunar- i**o*

You've heard, no doubt, about the undertaker who was called to embalm the deceased WPA worker and embalmed seven before he got the right one. ***

What He Wanted

The purchasing agent didn't want to see this particular salesman and instructed {is serretary to make some excuse.

"I'm sorry," she infodedfhe salesman, "but Mr. Jones can't see you today. He $S a sprained back."

back and tell Mr. Jones that I didn't come here to wrestle with him. I only want to talk to him."

:1. :f !F

BADLY NEEDED NOW.

Industry, economy, honesty and kiJ$fss form a quartet of virtues that will never be improved upon.-James Oliver. ***

The Plaint Of The Poor Dealer

Lives of great men oft remind us, Retailers don't have a chance, And in dy-rng leave behind us, Bigger patches on our pants. On our pants once new and glossy, There are stripes of different hue, All because the men we sell to, Will not pay us what is due. Let us then be up and doing, Lend our mite, however small, Or when the snows of winter strike us, We may have no pants at all.

Bright Blud Weather

O suns an{ skieg6nd clouds of June, And flo{er/of June together,

October's bright blue weather.

-Helen Hunt Jackson. rF**

Going Strong

A colored preacher was hearing confession. In the middle of it he stopped the young sinner, saying, "Young man, you ain't confessin'-you's braggin',"***

MANUF'ACTURING EVIDENCE

A policeman on the beat was puzzled, by the appearance of a house. It was a large place, and although the time was well past midnight, every room from attic to basement was well lighted. At lasl he decided to make inquiries.

"It's guite all right, constf,ble," said the man who answered the doorbell. "Nothifrgyridalarmed about. You see, my wife's been away forYmonth, and, of course, I've written and told her how lonely I've been. Well, I'm just making sure the electric meter doesn't give me away." ,f**

. IPRO9BESS

Many a man has in{or.gfed his lot in life by building a service station on it. l/

Elbow Room

Sometimes the prizefighter who can stand the most punishment puts it all oger theSne who is the cleverer with his fists. "No man Uv[S qirf,out jostling and being jostled," said Carlyle. "In all wYfs he has to elbow himself through the world."

*

Our guests have departed; no

That our grocery bufset's a thhr/of the past; Our cupboard, like {ubbard's yields nothing to eat, And a brave little tlag/t ties low in defeat. An icebox that onceYeld a Eftv arrav onceYefi a $ty aiay

At present holds notil\ b/( n cubes in a tray; And there isn't a chance\fi it being replete

Till our thin little budget gets back on its feet. We enjoyed our roles, those of hostess and host, But a guest must have more than black coffee and toast; Our diet's like Gandhi's, but we mean to eat

Just as soon as our budget gets back on its feet.

Use of KD Fir Frames Increasing in Southern California

After a year's experience in selling the Long-Bell line of Douglas Fir KD exterior window and door frames and interior jambs, H. Coor-Pender of MacDougall Door & Plywood Co., Los Angeles, wholesale distributors for these products in Southern California, reports that there is a definite trend towards the use of this type of frames.

"The use of knocked-down frames instead of the old way of cutting up lumber on the job is a progressive step, and many contractors in the past year have proved receptive to the new idea," Mr. Coor-Pender says.

"The old bugaboo that stock frames could not be used in Southern California on account of the many different types of construction has been dispelled, for the fact is that the frames we carry are applicable to 90 per cent of the residence construction.

"The KD Douglas Fir frame is a profitable item for the dealer and not a hard one to sell because of the high quality of material and machining. Dealers say that it hasn't been difficult to convince the contractor that this new l\ray is better than the old way as it offers their customer a higher degree of service.

"In the past year these frames have become quite widely used, being sold by a great many dealers.

"The service we render includes both knocked-down and built-up frames. The built-up frames are complete with flashing paper and sill pans, and with pulley stile cut for flat balances where required."

MacDougall Door & Plywood Co. carry complete stocks of these durable vertical grain Douglas Fir KD frames and empty windows. They are also jobbers of Peterman doors and plywood and carry large stocks of these items to serve dealers. Their warehouse is at 2035 East 51st Street, Los Angeles. Telephone Klmball 3151.

Opens Office In San Francisco

John Vander Laan recently resigned his position with Pope & Talbot, Inc., San Francisco, to enter business for himself. He is specializing in the sale of piling and has opened an officd at I Drumm Street, San Francisco.

Mr. Vander Laan has been connected with the lumber, piling and treated lurnber business in San Francisco for the past 15 years.

SELL THE CRAW-FIR.DOR AND MAKE MONEY !

Every ccrr owner is cr good prospect

Customers like it . .

Alert retail lurnber decrlers hcurdle it Builders ccm instcll it in c few hoursl lnsist on quclity-mcde WOCO CRAW-FIR-DORS

Wheeler Osgood

Sales Corporation

Ilqwfacfrirers oJ Woco qtd Lanfinex Plodlitcls FACTOR* TACOMA,WASHINGTON

Srler Ofriccn Srn Francircc rnd Lor Angolcr

CHROMATEII ZIl{C GHT()RIDE

RE TREATEII tU M BER

Sell lumber thct yields d ptolit ond losting sctisfoction. CZC, the protected luaber, is clem, odorless od pcintqble, It is t€rmite dnd decay rasistol md fire relcrdinq. You cm sell it lor F.H.A., U. S. Govement, Los Angeles e.iry and County od Unilorm Buildinc Code iobs. CZC lrected lumber ic stocked lor immedict5 shipmerit in omcrciql sizes oi Long Beoch ad Almedc Ask cbout our exchmge seryice crd nill shipment plcrr.

CJlfeft $|ls rlrb

- UEST-G0IST U00D PiESERYIIIG C0. - Srrlllr

601 W. Filtb St- Log Aagclcr, Cclil., Pboao Mlchigca 8291 33il Moatgacry St., Sq! Frocircc, Cql., Pholr DOuglcr 3833