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Home Building Getting the Sh<rft

The home building industry, including lumber and plywood is suffering severely from attempts to halt inflation, although some other sectors of the economy not only do not appear to be sufiering but are continuing to fuel inflation, charged Wendell B. Barnes of the Western Wood Products Association.

"The basic reason given for the sharp increase this year in the prime rate was to slow business loans by increasing the cost of such loans," Barnes said. ooBut it has not worked out this way. Business loans stood at $91.2 billion the week ended July 26.

Far from showing a decrease under pressure of sky-high interest rates, this figure was I2.3 percent above the $8I.2 billion in business loans registered at the end of the same week in 1968."

This is particularly true as far as the lumber industry is concerned, he said. Lumber production nationally was 185 million board feet for the week ended July 19, down 12.7 percent from the 2I2 million recorded for the same week last year.

"Yet the comparable figures for business loans show that despite the steady succession of prime rate increases, banks are still actively granting new business loans," Barnes said.

Wood qnd the Big Siding Mqrket

A recent survey of 20 cities by the U. S, Forest Service showed that 46 percent of the exterior facing material on new houses was wood based.

Other significant conclusions: builders select the siding or limit the choice of siding ofiered to the buyer; use of lumbeiand plywood is favored for creation of a rustic effect.

"In general," the publication noted, "esthetic appeal and product improvement are keys to wood siding's market future."

Srrike Seftlement Terms

The settlement that finally ended the 40 day long operating engineers strike that halted, 90/o of construbtion in southern Calif., called for heavy equipment engineers to get BSf more an hour for five years, a total of $4.25.

Generally, the new contract calls for engineers to get a 501 hourly pay hike retroactive to JuIy I and an additional 357 hourly payment Oct. 1.

Besides crippling major construction projects in the Southland, an estimated 300,000 construction workers were idled.

Slight Chonge in Compqny Nome

Max Hill Lumber Co. is the new name of -the former O. M. Hill Lumber Co. in Pasadena, Calif.

"Everyone knows me as Max Hill, not O.M.," explains the compally namesake, "so to cut out any possible confusion, we changed the name."

All else, though, happily remains the same.