New top man for lumber grouP

J T isn't often that an assemI bled group of lumbermen are very quiet at a meeting, let alone a Hoo-Hoo meeting, but there was a respectful, near-total silence for the impressive ceremony that marked the elevation of Leroy Stanton to Seer of the House of Ancients, the highest honor the lumbermen's fraternity can bestow. Now semi-retired and in his early 80s, he replaces the late Ben Springer as Seer.

Coupled with an old-timers night and concat, it made for a rare evening. Present along with a distinguished roster of industry veterans were delegations from the San Diego, Orange County and Inland Empire Clubs. Jim Jones, the head of Jurisdiction 6, flew in from the Bay Area for the ceremonial, held at a Montebello, Ca., countrv club.

Story at a Glance

Roy Stanton is elevated to top spot in Hoo-Hoo fraternity in impressive ceremonies by Los Angeles Club .. . a number of big wigs were on hand to see this rare ceremonial event.

Capping the presentation was the placing around Stanton's neck of the Emblem of Revelation, a 9pointed medallion, 2" across, that carries nine diamonds. He received a standing ovation at the con-

A PROUD MOMENT, indeed, for Roy Stanton (left) as he is presented by Dee Essley with additional certification attesting the fact that he is now Seer oi the House of Ancients, the highest honor than can be bestowed on any member of the Concatenated Order of Hoo-Hoo, the international fraternity of clusion of the ceremony, ably presided over by his old friend, Dee Essley, who has also been active in Hoo-Hoo for decades. lumbermen. Seen between Stanton and Essley are Jim Jones, Harl Crockeft, Jim Barnes, Norm Wendell. Expressing his appreciation for his high honor to a hushed audience, Slanton is llanked in photo at right by John and Bob Osgood with Dee Essley in background.

The new kittens from American Forest Products were: Richard Simcik, Paul Salazar, Mike Peck, Mike Mackin, Charles Hammonds, Gene Courchaine, Tom Flint, Robert Bowyer and Dennis Johnston; from Simpson Building Supply: Steve Overton, Kent Scherburne, Mel Rhodes, Ray McKendrick and Stan Cochran.

Old timers trophy was won by Bob Osgood; loss gross, Don Stobaugh, low net, Hugo Miller; lst flight, Bob Merritt, Frank Stanger; 2nd flight, John Lipani, Hugh Hurth tied; 3rd flight, Frank Quattrocchi. Claude Currv. also a tie.

Forecasts of a summer increase in housing starts have been clouded by recent jumps in the prime tending rate to new, record highs presently I lVo, the prime (the interest banks charge their best borrowers) is now seen heading for the unheard of heishti of I I %Vo by some banrting sources ..

The high interest rates both in the prime lending rate and high paying securities (Treasury Bills, commercial paper, etc.) will undoubtedly draw $$ from the s&ls, the main funding dource for new home construction, meanins ripples of diminishing deman"d for lumber and building mater- ials....

There is bad news anlentv if you read only the headliires: i1rcrease in Prices Hits 26-Year High"; "Real GNP Fell 5.8Vo as Inflation Soars"; " Economy Near Recession Level"; " Consumer Poll Shows Most Pessimism in at Least 22 Years" .... but, somehow, the bankruptcy courts aren't full vet and' wE: haven't heard of anyone takins the plunge or the gas pipe. .I

Some observers feel developments now shift situations so rapidly that the sanest course for most businesses is to keep movinq. nlav it by ear, be flixible, irdm,5te. advertise and work like hell

Best optimistic forecast comes from N.Y.'s First National Citv Bank; it sees a rebound in coisumer spending, a 2-million housing start rate by the end of '74 and more capital spending by business .... others feel new home buyers will buy now despite high rates, seelng a home as their best inflation hedge....

As we go to press, dealer delegations fiom all over the U.S. are in Washington, D.C. at the behest of NLBMDA. makine calls on Senators, Congressmei seeking trelp with induftrv pro- blems Masonitd has bought, for an undisclosed amount of cash, Cloverdale Lumber Co., Cloverdale, Ca.. and Humboldt Fir Inc., Fioopa, Ca.....