California Building-Loan Activities For Coming Year

The move on the part of the Nation's Chief Executive to bring together,during the past two weeks, through group meetings, various industrial and business leaders has focused public attention on the present economic situation. The last of six such conferences has just been held, points out the California Building-Loan League in a survey showing how these home financing institutions will help to sustain business activity in the coming months.

An indication of the tremendous size and sustaining influence of construction programs can be gained from the budgets announced at the various Hoover conferences. Public buildings, road building, by states and municipalities, amounting to about $375,000,000, will be speeded up. Street and highway construction is expected to reach nearly $2,500,000,000, during 1930. New equipment and improvements will cost the railroads about $1,250,000,000. Public utility corporations will spend billions in maintenance and new construction, during the coming year. Unquestionably the conferences called by Hoover were a big factor in bringing many concerns to a definite decision to carry through projects during 1930, which were under consideration.

Home construction is considered an important factor in maintaining prosperous conditions because so many different crafts and lines of business are affected.,, Due to the steady influx of population and the rapid defelopment of natural resources, this State has always taken a leading position in this regard. There is more money available today than ever before to finance home ownership and the efforts of rnoney lenders to find an outlet for their funds should prove a great stimulus to residential activities during 1930.

Building and loan associations of California will loan

Susanville Hoo Hoo Club Elects Officers

Thomas Pheneger, Lassen Lumber & Box Co., Susanville, Calif., was elected president of the Susanville Hoo Hoo Club at a meeting held on November 18. Wiele Vandekamp, Lassen Lumber & Box Co., was elected vicepresident, and Harold F. Goodale, Fruit Growers' Supply Co., was re-elected secretary-treasurer.

Arthur Lund, Lassen Lumber & Box Co., was nominated for vicegerent snark to succeed William C. Graf.

Douglas Fir Bowsprit Placed In "Constitution"

Installation of the Douglas fir borvsprit in "Old Ironsides" was the feature of NavylDay ceremonies held in the Na,oy. Yard ,at Boston, Mass., Rear 'Admiral Phillip Andrdws, commandant at the- Navy Yard, has informed the West Coast Lumbermen's Association. The bowsprit was fashioned from four of the timbers donated to the' Navy by the West Coast lurpber indristry and shipped to Bo'ston last spring. It is 64 feet, long and 32 .inches in diameter.

more than $220,000,000 during the coming year,'the California Building-Loan League estimates. Most of these loans will be for periods of nine to fifteen years and will be made on thb amortizing, or monthly repayment plan. Borrowers will be enabled under this plan to pay for their loans, like rent, out of their regular monthly incomes. About 35,000 individual loans will be made, the League estimates. Figuring four to a family, the homes covered by these loans will house approximately 140,000 people, or an entire city the size of San Diego.

California building-loan associations now have combined resources of more than $470,000,000, of which 88 per cent is loaryred on improved real estate. These institutions have shown an average annual growth of more than 30 per cent for the past several years and with thi money made available from the monthly repayments on loans, a vast sum is accumulated each year to aid in financing the construction or purchase of homes.

"California building-loan associations should make a special effort at this time in their advertising to influence prospective home builders to carry out their plans during 1930," according to J. M. Abbott, president, California Building-Loan League. "Viewed from every angle, the time is opportune. Financing is easily available; home sites are probably cheaper than they will be again in years; contractors are in a position to give every job careful supervision ; material prices are fair. In fact, there is every reason to believe that if all the concerns affected by home building, such as material dealers and manufacturers, real estate firms, public utilities and financial institutions, get back of a movement to speed up construction, 1930 should prove to be a most satisfactory year and help in no small way in the stabilization of general business qonditions in line with the purpose of Hoover's conferences."

AVIcCloud Now Has "Talkies"

I( The McCloud Theatre at McCloud, California, has installed the very l4test equipment in RCA photophones and the "talkies" are proving very popular and attracting large crowds. T.he McCloud Theatre is one of the finest theatres in Northern California and rvas built by the McCloud River Lumber Co. as a recreational feature for their employees.

Coast Counties Club Gets Number 89

Vicegerent Paul C)verend of the Monterey District has appointed the following organization committee to proceed rvith the formation of Coast Counties Hoo Hoo Club No.89, charter for rvhich was recently received: M. D. Bishop, chairman; Bert Atkinson, Builders' Supply Co., Gilroy; C. O. Kelly, Gilroy Lumber Co.; F. C. Boock, Gilroy Lumber Co.; Sam Moore, Homer T. Hayrvard Lumber Co., Salinas; H. W. Enlow, Hammond Lumber Co., Watsonville; Herman llerwig, Watsonville Lumber Co., Watsonville, and Chas. Peterson.