CALIFORNIA

Wholesale Lumber Association

San Francirco Office: 260 California St.

F. J. O'Connor, Prcr. rnd Gca. Mgr. - Phonc GArficld 5815 Lor Angeler Oftce: Petroleunr Securitiec BIdg. Clint Laughlin, Dirtrict Manegcr MEMBERS Phonc PRorpect 2703

Home Building

With the idea of stimulating building activities, the Construction League of California, Southern Section, recently adopted the following resolution.

"WHEREAS, there exists the ownership in fee a tremendous number of unimproved residential lots upon which owners are desirous of immediately erecting homes for their own use, provided funds can be supplied at nominal interest rates under fairly long periods of amortization.

"NOW THEREF'ORE BE IT RESOLVED, that the Construction League of California, Southern Section recommends that the Federal Government seriously consider the advancement of $4O0,000,m0, to be loaned to Building and Loan Associations and other proper corporations for the purpose of reloaning to individual home builders, in an amount not to exceed seventy-five per cent of the cost of the building, plus a reasonable appraised value of the site, such loans to be used exclusively for the cost of construction are to conform to the Federal Home Loan Act as to the maximum amount of the loan, rate of interest and the period of amortization.

"BE IT FURTHER RESOLVED, that copies of this resolution be presented to the Board of Directors, State Chamber of Commerce, requesting their support; and also to Mr. Vorhees, President of the Construction League of the United States, and also to Mr. Kohn, Chairman of their Housing Division."

Commenting on the above resolution, A. W. Donovan of Los Angeles, Southern California representative for Hobbs, Wall & Co., states: "This approval seems to .me to be extremely sound economically and if monies could be made available in the immediate future, a tremendous volume of small home building would be stimulated. I think if some concerted action was taken by the industry, we might start the ball rolling."

Opens Offlce at Klamath Falls

A bran'ch office of the Western Pine Association has been opened at Klamath Falls, Ore., in the American National Bank Bldg. rvith H. E. Crarvford in charge. Mr. Crawford has been associated with the lumber industry in California for many years.

Tm Lunber Co. ...."...,...

;il;'i;;;i; ;;d L;-^d-;

R O. Ul|lon & Sm ,..,...... San Fruclrco

Wiln Bro. tl Co. ......... ..SanFrarci*oandlcAngclel

E. K. Wood Lubcr CG ..'..San Fnncllco and Lc Angclc

Hltt & Morto, he ..'..'.'..'. ...'."@rlrhnd

Bloc&l-Dmwea