Annual Con vention Angeles

elected President

"Officers of each bank to be elected from local building businesses, trades or allied industries.

"No loan to be made for over $3500.

"Money to be used for building new homes or for refinancing safe home owners' loans.

"Loan board of each bank to determine rvhat constitutes a safe loan.

"No loan to be for over 75 per cent of appraised value of property."

Fred Holmes, Holmes Eureka Lumber Company, San

Kenneth Smith, Los Angeles, gave an interesting talk on the development of the steel house. He discussed the various types of houses that the steel companies are building which can be. set up in four or five days, and their plans for financing these houses for the home owner. He stated that the lumbermen will have to do a lot of thinking regarding the future, and that the next major nerv industry in this country will be fabricated houses.

"selling on Quality, Not Price" was the subject discussed by R. Pryne, Pryne & Co., Inc., of Los Angeles, manu- facturers of steel specialties. The pendulum is swinging back to better merchandise, and prosperity will not return until we stop talking price and talk quality, Mr. Pryne stated. Good merchandise makes more profit, he said. If you want to sell steel specialties and sell quality, he told the dealers that there is a good chance to make a profit which should develop in a greater profit later on.

Francisco. told of the successful results of the conferences held by the Lumber Committee of the California Retail Lumbermen's Association and the Relationship Committee of the California Redwood Association at which meetings matters of interest to both the retailers and the manufacturers were discussed. He stated that the Redwood manufacturers are glad to cooperate with any of the local groups. Several dealers from Northern California expressed their satisfaction as to the results of these meetings. Mr. Holmes also showed a circular with illustrations of suggested advertisements, cuts and mats which the Asociation will furnish for dealer use in their local advertising.

"Lumber and Profits" was discussed by C. H. Griffen, Jr., San Francisco, secretary-manager of the California Redwood Association. Mr. Griffen said that the dealers should give more time to the merchandising of lumber and sell it right as it was the'biggest sourc6 of their business and developed the greatest profit.A great deal can be accomplished by contacting the architects,.he stated. Francis E. Boyd, Boyd Mill& Lumber Co', Santa Barbara; Jerry Sullivan, 'Western Lumber Co., San Diego, and F. Dean Prescott, Valley Lumber Co., Fresno, also talked on this subject.

Earl Johnson, Johnson Lumber Co., Pasadena, was the first speaker on roofing conditions in the state. E. T. Robie, Auburn Lumber Co., Auburn; W. S' Cowling, Dixie Lumber & Supply Co., San Diego; Harry A. Lake, Garden Grove Lumber Co., Garden Grove; F. G. Duttle, Sterling Lumber Co., Oakland; E. Steffensen, Orange County Lumbermen's Club, Santa Ana; Henry M. Adams, Henry Adams Lumber Co., Anaheim; Ross Blanchard, Blanchard Lumber Co., North Hollywood, and Frank L. Fox, Fox-Woodsum Lumber Co., Glendale, also took part in the discussion. President llarryA. Lake was the last speaker at the morning session and talked on "Cooperative Conditions Over the State." Among the outstanding things accomplished during the past year, he stated' were the fine pro*

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