ARIZONA SGENEqP

FRANK DAVIS executive vice president

ONGRESSMAN Eldon Rudd has tTintroduced a bill to help bring the housing industry out of its present dilemma. Concerned with national home building bonds, the proposal will:

(1) Provide adequate mortgage money at an affordable rate for new home construction.

(2) Stimulate the home building industry and put thousands of construction workers, now laid off, back to work.

(3) Provide a new source of private capital for lending institutions such as savings and loans and banks.

(4) Accomplish all of these things without a dollar of federal money; placing no new burden on the treasury.

Other housing bills are being introduced in Congress. I am sure one will emerge that will help our industry out of the housing slump, although high interest rates are the main cause of the problem.

In conjunction with the first quarter board of directors meeting held in Sedona, Az., on Sept. 13 and 14, ALBSA honored Jay O'Malley on his retirement. James Magbee, pres. of NLBMDA, was an honored guest to pre- sent two awards to Jay at the banquet, the president's award from ALBSA as well as one fiom NLBMDA.

A two-term pres. of ALBSA, Jay has spent his entire life in the lumber business including his service in the U.S. Air Force during World War II when he was in charge of the allocation of lumber and plywood for all bases and depots on the West Coast. He is a past president of the National Lumber and Building Material Dealers Association, the only Arizonan to ever hold this office. While serving on the Handling Committee, he was responsible for obtaining a 250/o reduction in freight rates on lumber shipped into Az.

His services to his city, state and nation have been legion, not only through the lumber industry, but also in his tireless religious, social, political, civic and sports activities.

The members of the Arizona Lumber and Builders Supply Association wish to thank Jay O'Malley. His contribution to the lumber industry has been invaluable.