&Rossell, Inc.

Head Office: 1,22L 9YV. Yamhill St. Portland, Oregon 972Os (sos) 221n644 Telex 03-0523

MANUFACTURERS, WHOLESALERS AND DISTRI BUTORS OF FOREST PRODUCTS SINCE 1904

I-IORROR stories, commisera- I f tion and a quiet determination to make it through an extremely difficult period marked the annual fall meeting of the Western Wood Products Association, held in midSeptember at the MGM Grand Hotel, Reno, Nv.

Like its members, WWPA is undergoing more belt-tightening. Dues increases and a l5s/o reduction in staff plus a repayable advance on dues from certain larger members will enable it to maintain priority programs. Without the dues hike, noted president John T. Casey, Jr., WWPA would require drastic cutbacks that would "move it from financial insolvency, but directly into functional insolvency. "

Executive vice president H.A. Roberts said that "looking to the remainder of 198 I , there is nothing on the horizon that would indicate that our situation is going to improve." His forecast calls for 1.2 million units to be constructed during 1981, off 100,000 units from last year's 1.3 million-unit performance.

For 1982, WWPA estimates 1.4 million starts, based upon the assumption that both industry and government will reduce their demand for capital. This will allow interest rates to drop moderately.

"We also believe that the Federal Reserve Board will be reluctant to push the nation into another recession by continuing indefinitely its tight money policy," he said.