The Cost of Credit

The longer you hold your non-paying accounts, the less they are worth, a truth that is brought home pointedly by U.S. Department of Commerce frgures that show that after 60 days your delinquent dollar has lost l07a of its value. At the six month mark, it's value has been diminished by one third.

At two months, your dollar declines to 901 due to costs involved in carrying accounts. At six months it is 67(; at one year, 451,; at two years, 23C,; at three years, l5l and at five years, a dollar in a past due account is worth exactly one penny.

RETAIL YARD IS lOO

(Continued from page 16) ing metropolitan area in the United States.

Modesto Lumber prides itself on its complete stock of redwood sidings, wood windows and frames and many other hard to get items. They also have resisted the trend to selling pre-packaged hardware, figuring that extra manufacturer cost in (Please tum to paCe 55 )

New Forest Research Logo

The logo seen below is the new graphic representation of the Forest Products Research Society, a 3l-year old international education association founded to collect, develop and disseminate technical information of use to all segments of the forest products industry.

Big enough to do the job, smallenough for. . Personal Service

13 hardworking acres, specializing in mouldings, upper grades in softwoods, imported and domestic hardwoods. Complete milling and kiln drying facilities. RR spur.

The organization is based inMadison, Wi., sponsors numerous technical conferences and publishes a number of wood related publications.

(Continued from page 54) preparing it means higher prices for their retail customers.

Noting that many manufacturers no longer honor bulk orders for hinges, nuts, bolts, drawer pulls and knobs, Bradford says, "There are only a few of us around these days who still carry hardware items in bulk. The time may be close when the bins will give way to racks of packaged items."

The third oldest business in town, the Modesto Lumber Co. officially was born in 1890 of two earlier enterprises. Moore & Smith Lumber Co. and the A.A. Jackson Lumber Co., both founded in 1878. Austin D. Moore was the first president of the company, Francis Christiansen, a 50-year employee of the firm is the current president. Clarkson Bradford, Jr., is a member of the family in whom ownership in the company has resided since the early days, when total ownership was achieved by acquiring the shares of W. H. Talbot, of Pope & Talbot fame.

The firm's present concern for the customer and its attempts to hold down prices is no recent thing. Many years ago, in an effort to get the Southern Pacific Railroad to reduce its rates for hauling lumber, C. R. Tillson, the family member who then headed the firm, hired a river schooner. in San Francisco.to bring in a load of lumber, which was then hauled to the yard by a horse and team.

As a local historian notes, "One trip proved sufficient to reduce substantially the lumber rate by rail to the Modesto area for many years. "

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