5 minute read

Now! Direct from the manufacturer...

Next Article
OBITUARIES

OBITUARIES

Top Quality Turned and Tbreaded Wood Components. Just a twist of tbe wrist to assemble Room Dirtiders, Sbeluing (Jnits, Tables and man! otber decorathte iterns. THAT MAKE MONEY FOR YOU.

Free disploy rqck with originol stocking order.

THE ONLY COMPLETE LINE DESIGNED WITH THE DEALER IN MIND. PRE.PAID, GUARANTEED 72 HOURS DELIVERY.

The National Home Improvement Council was created for the sole purpose of expanding the rcmodeling market. As the representative of all segments of the industry-builders, dealers. contractors, manufacturers and associations-it encourages home owners to enjoy better living through home improvement.

N.H.LC. meets with FHA, congressional con.rmittees and industry leaders on your behalf to recomme ncl programs to stimulate home improvement.

r It holds management clinics for local businessmen to help them create successful home improvement promotions.

. It publishes remodeling training manuals, reports industry trends with anewsletter and has distributed thousands of training courses to remodelers by mail.

Through a comprehensive public relations program, it reaches national magazines and countless newspapers with feature stories on the advantages of remodeling.

o It distributes booklets byindividual industries directed at increasing the total home improvement market.

In cooperation with you, N.H.I.C. can sct up a progran to stimulate home improvement in your area. N.H.I.C. will provide full dctails on such promotions as a home improvement school, special ncwspaper sections, a Home Improvement Time and many other promotions. By displaying the National Home Improvement Council stickcr on your door, you reap the bencfit from a nationwide program which directs home owners to N.H.I.C. members as reliable home improvers.

Fill out the coupon below for further information about the N.H.I.C. and your free copy of "The Challenge of the Great Society to the Home Improvement Industry."

T-he .actitities ol N.H.I.C. are supported. by lhe lollowing organizations, anoig otheri:

Alcoa Buildins Producls, fnc-

Aluminum Sidine Association

American Gas Associalion, Inc.

American Pllwood Associaiion

Andersen Corporalion

Bird & Son. Inc.

Certain-Teed Products Cotporation

Electric Heating Association, Inc.

Itvans Products Company

The l'lintkote Company

For€st Fiher Products Company

Formica Corporalion

GAF Corfloration

Gas ApDliance lllanufacturers Association

Georgia-Pacilic Corporation

It helps you make more sales and profits by giving you an opportunity to work with other leading firms on the industry level. You can use the Council us an advisory scrvicc to keep abreast of developments. participate in education, publicity, promotlons and public service programs. In short, it is the quickest way to develop more sales and profits in the multi-billion home improvement market.

IIome Improvement lllarkelinc Consultants. Inc.

House Beauaiful Maeazine

In 1968 approximately 972,000,000,000 was spent for home modernization. Sources indicate a 969 billion backlog of modernization exists in the lJnited States, with an additional $16 billion developing each year.

IDS Credit

Johnr-ManvilleCorporaiion

Sales CorDoraaion

Kaiser Gypsum Conrpan-r, Jnc.

Masonite Corporation

Middle Atlantic Lumb€rmens

Associalion

National Gtpsum ComDany

Nalional l.umber & Buildins l\laterial

Dealers Association

Owens-Corning Fiberglas Corporation

Philip Carey Corporation

Sears, Roebuck & Comuanr

Standard Screw Company

The Tappan Company

Uniled States Gypsum Companl

U.S. Pllr'ood-Chantt)ion Pallers f nc,

Weslinghouse Elecaric CorDoration

Wclcrhaeusea Comtranl

Whirlpool Corporation

Western Lumber a Building Materials

N,EPB,ESTNIIATTVEg

NOTITHERN CAITTORNIA & - -PAcrFIc NoIlTHw'Esr

Col Wood, advertislng and ne$'s' 5 Cenoa Place, San Flqftc-lqgg' caur. g+re3. Phohe (415) 391-0913. - San Franclsco Billing Ofllco' 2030 Unton St., san r-rancrsco' -catir. g+ris, pSsns (415) 346-6006. s() r I'l'lll)IlN cA l,l 1,'0llN lA Teil llse. advertlslng and new!, ?3P"i3 "liff $il3;""t'f$f ?tu-EES or (213) 792-40ga. NEW YOR.r Hal II. Porltz, advertlslng -gnd news. 369 Lexlngton Ave.' New ior[l New YorF 10017. Phone (212i MO 1-0380.

MIDWEST ilerrv Cra66e, advertising 4nd newJ-P. o. goi B, xenia,- ohlo 4538:i. Phone (5t3\ 312-6471.

EDITONIAL OI'FICES

WDSTERN LUMBER & BUILDIN.G mATeErlr,s MERCHANT is lubX"*:.t"#3t:*Y &tt"l'n"' 8f; "ttf3 {2'.9i 792-8823 or (zls) 792:4008 tiv -California Lumber Merchant' :mau*"t".ttSS'l"r""o?i1"33:"E""83fi $: 8'"XT. "3i"?f.: lXE" Jutft,8*"i'ffi: fices. Advertising rates upon request.

Subscrlntlon Irote-U.S., Canaqe' MCxlco'and Latln Amerlca: |l4one vear: $il - two Years; ltg ' thlge vears. Overseas3 $5 - one Year; iDa ' lwo years. Slngles copleq 50/. Back coples ?5t when avallable.

SI'BSCBIPTIONS

Chengo of AddreE8-Send subscrlp- tion orders and address change8 to Circulatlon Department, Weqtgrn iiimber & Bulldlng Materlals-Merahant. 5?3 So. Lake Ave., Pasa' dena. Callf. 91101. Include addtess talCi fiom recent lssue lf polslble' Dlus new address, zone numDer or Zip code.

Tho Merchant ltflocazlno Serves thg memueis of tne:- Arlzona Retall Lumber & Bullders SUPPIY 48so' ciatlon. Phoenlx; Lumber Mer' chants- Association of Northern Callfornia. Los Altos; Montana Buildins Materlals Dealers Asso' ctatton.- Helena: Mountaln Statqs Lumbei" Dealeri Assoclation, Salt Lake Cltv and Denver; LumDer Assoclatldn of Southern Calllornia. Los Anseles: Western Bulldlng MaterialAssoclatlon, Seattle' THE MERCHAI{T is 6n independent magaz'ine publisheil monthla f or those rnembers of the lumber and' building irateriak inilustries who need and utant factual, accurate neu:s and, an obiecthta ana,Igsis of eoents and' products of concern to them'in business.

NewTruth-ln-lending Low

T|HERE WERE groans from many businessmen r when the Federal Reserve Board recently published strict rules regarding the new truth-in-lending Iaw.

We don't agree with the groaners that the full disclosure rules of the new law, which goes into effect July l, will hurt credit sales.

Rather it seems to us another step away from the bad old days when the first rule of business was Caveat Emptor let the buyer beware. No business, taking the long view, was ever hurt by being as honest as possible with its customers. The converse is true. No custom€r was ever hurt by a business that treated him with all honesty. Unfortunately, there are lar too many cases today of customers being injured through their lack of full understanding of the cost of the credit for which they so casually sign.

Car dealers, banks and loan companies, department stores. lumber and building materials dealers now must tell their customers more than ever before about the time payments, finance charges and interest rates involved in credit sales.

Congress, which rvas extremely critical of the claims and statements in many advertisements selling credit, re{lected its low opinion by setting particularly strict rules for ads. And they apply not only to newspaper, magazine and radio ads, but also to flyers and store window signs. Any advertis- ing medium that makes promises about credit is within the Consumer Protection Credit Act.

This requirement for a full spelling-out in every consumer credit transaction will probably cause the most confusion initially by the way it demands the annual percentage rate be explained to the customer.

If a bank loans $I00 today, repayable in twelve monthly installments totaling $106, the bank calls it a six percent loan. But expressed as an annual percentage rate it is eleven percent and must be called so after July I.

The government's reasoning is that "the $100 would be available to the customer only for the first month ot' th" loan. When he makes his first repayment, he actually repays part of the money and has less at his disposal."

The tell-it-all rules do not permit mention of one specific credit term, such as "no down payrn€nt" or 'othree years to pay." If the ad even begins to talk about credit, then it must list all of the applicable provisions, including the finance charge, annual percentage rate and number of payments.

While the new ways of expressing annual rates and the full disclosure of how much must actually be paid may at first scare off some customers, it may well bring in new ones. People whose fears have been removed because for the first time they will be able to accurately measure, by a uniform system, what they pay for credit.

Those who reflect calmly upon the long term worth of this law will, we are sure, agree that it is a good thing for both customer and merchant.

This article is from: