Federol Freeze on Housing Subsidies Moy Be Overroted The impact of the federal freeze on subsidized housing programs may be overrated, contends Walter B. Williams, new president of the Mortgage Bankers Assn. of America.

to heavy grain exports through Gulf Coast ports, according to APA, the Tacoma. Wash. based association had received the first indications that the wide gap between plywood supply and demand was being reduced slightly.

Statisticsdeveloped from a national sampling of plywood wholesalers by APA show that average wholesaler inventories reached a low point of 23 days' supply in December, 1972. This compares with a "normal" monthly average of 45 days' supply in both 1970 and 1971.

The survey indicates that wholesalers had an average of 25 days' supply in January 1973, and 28 days in February.

Lewis also said that the wood products industry is continuing its efforts to get an increased timber supply from federal lands. o'[n the long run,t' he said, "only an increased supply from these lands, which contain 58/o of the nation's softwood sawtimbero will enable the wood industry to meet the steadily mounting demand for its products. The. goal of more wood from the federal lands can be met well within the limits of sound enl virorrmental practice."

on the overall housing rirarket. Projects already approved for fed. eral aid will go ahead despite the freeze, he said, and some mav not be built for 6-12 months or "ornl on the market for two years.

Howard Johnson's Travel Desk 500 South Main St. Orange, California 92668

For reservations at any Howard Johnson's Motor Lodge call toll free (800) 323-2330 from the states west of the Mississippi. Over 460 lodges coast.to-coast.

George Romney, outgoing HUD secretary, announced Jan. 8 that an l8-month freeze would be imposed on new commitments for low-cost home programs, to allow the admin.istration to reassess its housing assistance effort, The government has since indicated the freeze will not last for the full l8 months period.

Although many mortgage bankers, developers and builders have vigorously protested that the freeze will cut off benefits of federal aid from disadvantaged people who need it most, IVilliams played down its efiects

Williams, president of Continental Inc., a Seattle-based mortgage banking firm, said the moratorium "probably won't have any impact for 18 months on housing coming onto the market."

The basic Federal Housing Authority program of mortgage loan insurance for middle-income buvers is unchanged by the fireeze, however, and Williams emphasized the im. portance of both the FHA and Veterans Administration programs in oobringing in money that otherwise might not be available for the mortgage financing pot."

Firm Plons Lorger Gluorlers

International Forest Products, Inc. of Pomona, Ca., plans a move to larger quarters in nearby Chino in about one year. The new facility will be approximately three times larger than the present one.

Plans include a 3,000 sq. ft. office building, a 5,600 sq. ft. millwork building, a four car rail spur and two lumber storage sheds on the 5.89 acre site. The company, which sells throughout the lVestern states, estimates it will take 60-75 people to stafi the new operation.

Two New Ones for Ole's

Two new outlets are being opened by Ole's Hardware Centers, bringing their total number of outlets to 10. All are in the greater metropolitan [,os Angeles area.

The Northridge store, measuring 50,000 sq. ft., is being built from the ground up and will run 92.5 million for building, fixtures and initial inventory.

The San Bernardino store is an existing facility of 19,000 sq. ft. that is being expanded to 40,000 sq. ft. A grand opening is planned for later this Spring.

Ole's plans one more store opening for 1973 with four new ones set for 1974. No details have been released on new store locations or their size.

Weslerners qt AITC Annuol

The 2lst annual meeting of the American lnstitute sf Timber Construction has been held in Freeport, Bahamas.

The directors retained J. Walter Thompson Co. as its public relations agency to develop its marketing com. munications program for structural glued laminated timber.

Wallace J. Turner, manaser of the lumber div., Weyerhu"u."r,- Tacoma, was elected president; vp. is Richard C. Caletti, president of Standard Structures, Inc., Santa Rosa, Ca. The only Westerner elected to the board was William B. Lindberg, presideng Woodlam, Inc., Tacoma.

Continuing AITC directors, from the West: Clyde Hughes, Ore., and Lumber Co., Springfield, Ore., and M. J. Throop, Laminated Wood Product Co., Ontario, Ore.

Merger Aclivity on Rise

Merger activity in the building products and materials industry last year rose 38/o over the previous year, ], according to W. T. Grimm & Co., a -'. financial consulting firm specializing in mergers and acquisitions. l

Net merger unrr6un""-"rrts in the category tJailed 55, up from 40 in 1971. Overall merger activity in the . 40 categories covered by the study , was 4801, a 4/o increase over the l97l total of ,1608.

Willard T. Grimm, president, views 1973 with more optimism than he did 1972. With good stock prices, reasonable interest rateg prosperity returning to cyclical industries and increasing corporate earnings, all in. dices point to a rising trend of busi. ness-purpose mergers, he said, antici. pating the total to surpass 5000 merg. ers in 1973.

Within the building products cate. gory, Sl/o of all transactions repre. sented divisional sales. In 1972, there were 17 such divisional sales, com. pared with 16 in 1971. Of all 40 industry classifications, fractional or divisional sales accounted for 37/o of the 4801 total.

Queen Mory Site for Club Bqsh

NAUIICAL setting aboard historic Queen Mary, permanently. berthed. in Lone Beach, Ca.I backdropped Los Angeles Hoo-Hoo Club 2's Valentine dinn-er danie. Almost 80'attended. Do,or prize winners were Bette Purkiewicz and Rosemary Schmidke of South Bay Red.wood; Joan Grissom. Cal Forest; and Joe Terrell's guest Helen McKim. In pix (1) Don'stobaugh. P) Shirley Stow, Wally Swanson. (3) Randy Philips' Mr. and Mrs. Ken Schmidke. (4) Leona Swanson, Jean and Jim Adamson. In foresround, Shirley and George Stow. (5) Joe Terrell, Audrey Lember. (6) Diann Contestabile, Mr. and Mrs. Bus Blanchard. (7) Chuck Lember' lda Stobaugh. (8) Nate Youmans. (9) Mark and Sandie Loflund.

Moulders Noise Control Study

Western Wood Moulding and Millwork Producers spent a full day reviewing results of an industry noise control study at their semi-annual meeting on the Kona Coast of Hawaii.

The study was done with the cooperation of OSHA to find engineering solutions to source noise problems in the wood moulding and millwork industry.

According to T. R. Allen, WWMMP president, and chief executive of Mt. Taylor Millwork, Milan, N.M., the study now is ready for finalization but the association is seeking OSHA approval for a six-month extension for in-plant testing and demonstrdtion. A primary t'est objective is to uncover potential detrimental effects of enclosures and baffiing systems on production.

A management planning panel session included: Robert Donnelly, Contact Lumber Co.. Portland; T. R. Allen; Leonard Richert, Challenge Lumber Products, Marysville, Ca.; E. C. Israelson, Dorris Lumber and Moulding Co., Sacramento, Ca.; Kieran P. Madden, Ponderosa Mouldings, Inc., Redmond. Ore.. and Warren C. Jimerson, WW'MMP exec. vp. WWMMP supported equalization of basic eastbound and westbound freight rates for plastic mouldings and millwork products, based on a 38,000 lb. per car minimum. The moulders also were favorable toward basing eastbound rates for plastic and wood moulding and millwork products on the eastbound lumber rate providing minimum lumber weights are met.

It also adopted a new standard for interior door jambs and frames encompassing natural, clear finish, paint and overlay grades. In addition, it was announced that the association no'w is formulating standards for vinyl wrapped wood moulding and millwork products.

The moulders issued special commendations to John Hanson, recently retired sales manager of Ponderoaa Mouldings, Iric., tedmond, Ore., and Robert Whittier, vp., Whittier Mould. ing Co., Redmondo for outstanding service to the industry.

Special recognition also was given to new WWMMP members Jeld-Wen, Inc. of Washington, Oregon and Arizona, Kimberly-Clark Corp., Anderson, Ca., and Alexander Mouldingg Hamilton. Texas.

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