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LUMBER, COMPANY, INC.

Founded 1935

Fir Pine Redwood Spruce Western Hordwoods

Direct MiIl Shipments

Dishlbudon Yards-{an Francisco o Los Angeles

Los Angeles-7155 Telegraph Road 90022, Phone (213) 685-4506

San Franclsco-l485 Bayshore Blvd. 94124 Phone (41r 467-8440

More Money for Housing Asked

Members of the forest products industry from all parts of the country joined over I,700 home builders and members of allied groups in early Oct. in a housing action program urging Congress and the Administration to increase the credit flow into the housing mortgage market.

The emergency meeting was called by the National Association of Home Builders.

A majority of the members of Congress later voiced support for positive programs to reallocate funds for mortgage credit.

The cooperating groups urged Congressional and executive department action to realign credit resources to make the additional $I0 billion available to consumers for home and apartment financing.

Construction Cosl's Record Jump

Construction costs rose more in the last twelve months than at any other time in the past 24 years, McGraw-Hill has reported.

The construction authority reported that the cost of construction labor and materials j*p"d an average of 7.5 percent during the year ending September 30, the largest single-year increase since 1946.

The primary reason is average hourly wages for building trades craftsmen. Since their September 1968 survey, wages have gone up eight percent and building material prices have increased seven percent. Today's basic hourly wage rates are 4.3 times what they were in 1941, with material prices 2.4 times.

Futures Troding Sets Record

Trading on the Chicago Mercantile Exchange continued to shatter records in the first nine months oI 1969, says Everette B. Harris, the president.

The new contract in lumber, first traded Oct. 1, oois not expected to contribute substantially to total 1969 volume, even though the first-day total of 218 contracts traded was the highest for the first day of any new contract in the exchange's history.

Slight Rise in 6/ 4 Shop Use?

A slight rise in the use oI 6/4 shop lumber for millwork products this year is possible, according to John W'. Shoemaker, exec. vp. o{ the National Woodwork Manufactirrers Association.

His view is based upon a statistical sampling of millwork plants since 1967. The 6/4 shop size is considered a bellwether in that industry.

"Any improvement over last year," Shoemaker said, "would still fall noticeably short of the total volume used by the exact same firms in 1967." TEAR