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PAGItrD III ITO6'NND. PROOT GRDDII

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(Ugere' caaurqnce ol lregh stoch unilonnity cnd proper resultB lor concrctc.)

, Wc*crn Pinc Production, Shipment3 Sct Rccord in 1950

Portland, Ore., Jan.2-The following report of fourth quarter and total 1950 production and shipments of Western pine region lumber and lumber products and estimate of probable first quarter, 1951, shipments were released today by S. V. Fullaway, Jr., secretary-manager of the Western Pine. association. The report covered Idaho white pine, Pnnderosa pine, Sugar pine and associated woods. The statement in full:

"Although our September 29th forecast of fourth quarter shipments was apparenttl' about 170 million above the actual deliveries in that period, the 1950 performance of the Western pine industry has exceeded by considerable rnargin that of any previous year.

"It is now expected that for the year 1950, the Western pine industry will have shipped approximately 7 billion, 6 hundred million and produced 7l billion. These shipments are l3f pcr cent above those in 1949 and production is up ahnost 13 l)cr cent. Total regional stocks on December 31, 1950 are estirnaterl at 1,534 rrrillion, down more than 100 million from a ycar ago.

"The year 19.51 begins itr at attnosphere of doubt and uncertainty. Government controls of construction credit and actual and irnpending curbs on the use of essential metals indicate a drastic <lrop in residential constrttctiou from the record levels of 1950. The emergency status of the nation and the mobilization program call be expected to bring about rapidly a fully regulated economy. It would be surprising if this did not result, at least temporarily, in serious economic dislocations. For the immediate future there appears little prospect of any great military need for lumber.

"FHA figures show a backlog of 400,000 residential units with approved FHA, VA or private loan cornmitments. Currently, however, new starts are down substantially f rom previous periods and from the levels of a year ago. There seems nothing to indicate that residential construction can be expected to attain anything like the volume of 1950. One evidence of the trend is the decline during the past two months of lumber deliveries as compared to a year ago.

"Based on such factors and on all other available information, it now seems probable that during the first quarter of 1951 shipments (consumption) of lumber from the Western pine region will approximate 1,140 million. This will be 20 per cent under the record first quarter of 1950 but higher than those for the same period during the years 1942 to 1945, when war requirements for lumber were at a maximum."

Club No. 39 Annucrl Dinner Dcnce To Be Held Februcry 2l

The annual dinner dance in celebration of the 26th bitth' clay of Hoo-Hoo Club No. 39 will be held at the Sequoia Golf & Country Club, Oakland, on Wednesday evening, February 21.

Tickets are now available from any member of the board of directors, or by telephoning Bill McCubbin, YUkon 6-6306, who is chairman of the afrair.