Vholesalers of \ffest Coast Forest Products from the better mills . . . exelusively for the needs of California Lumber Merchants

Reql Estole Inveslors Orgonize Nqtionol Trode Associstion

Washington, D.C.-A group of the country's top real estate leaders have formed a national trade association to represent a new segment of American finance-real estate investment trusts operating with the same tax treatment as mutual funds.

Joseph W. Lund, prominent Boston realtor and a past-president of the National Association of Real Estate Boards, announced formation of the new organization, known as the National Association of Real Estate Investment Funds, with headquarters at 7737 De Sales Street, N. W., Washington, D.C. Mr. Lund was elected unanimously to the presidency of the new Association at an organizational meeting held in Boston.

Formation of the Association stems directly from the action of the 1960 Congress in amending the Internal Revenue Code of 1954 to give real estate investment trusts the same tax-exemption privileges already given to mutual trusts and regulated investment companies. As a result of that legislation, which became efrective on Jan. 1, 1961, real estate investment trusts which distribute 90/o or more of their ordinary income are taxed only on their retained earnings. Ownership of such trusts must be held by 100 or more persons to qualify for this tax treatment.

Inlqnd Lumber Compony to Celebrqte

| 5fh Anniversqry

ot Open House, Feb. 3

Rialto, Calif.-Inland Lumber Company is celebrating its lbth anniversary at a birthday party----open house event, this Friday, February 3, from 10:00 a.m. to 4:00 p.m., according to president tr'red S. Thomson. The wholesale distribution firm will serve hot lunch at Noon to its invited friends and customers, and a tour of the modern, 30-acre plant is also on the schedule of events. Demonstrated at the Open House will be the new Super Microseal Process which gives wood products the new "Super Satin Surface." There will be a dozen or more other displays and demonstrations of new innovations in lumber and building materials, and members of the customers' staffs and customers' wives are also welcome to attend. Inland executives also suggest that their dealer customers also bring along their most active contractor friends.

Wells Custom Millwork - GOOD MIILWORK

Architecturql Woodwork Pollerns Accurotely Mqtched

Detcril Sticker Work. All Moldings up Io 4"X12"

Speciclizing in Hqrdwoods qnd Softwoods... BAND SAWING

We Stock "T" Aslrogols in the following Woods:

Douglos Fir - Sugor Pine - Philippine Mohogony - Domeslic AshDomestic Birch ond Wolnut

For Prompl, Eftcient ServiceFqst DeliveryCAL[:

WCLA Publishes 196l "Where lo Bvy"

The 1961 edition of the Where to Buy directory, lVest Coa^st Lumbermen's Association's complete buyer's .guide, is now available to retailers, wholesalers and specifiers thioughout the nation. This year, the Where to Buy is designed to perform double-duty. In addition to its primary function as a WCLA directory, listing mill addressea, pe$tonnel, species and manufactured items, the book features full-color front and back covers with detailed information on Utility grade West Coast lumber.

Suggested uses of Utility grade lumber are listed on the back cover, plus four maximum span tables for Utility gxade as found in the FHA Minimum Property Standards for One and Two Living Units. Ttre tables give acceptable spans for the trve major West Coast species-West Coast Douglas fir, West Coast hemlock, Western red cedar, Sitka spruce and White fir-when used as flat roof joists, ceiling joists, rafters for light roofing, anrd floor joists.

The 52-page booklet lists approximately 250 sawmills in the Douglas E ir Region, with their capacity, facilities, species produced and each mill's major a.nd specialty items. Elach mill's manufactured products are included in a column breakdown of 55 items' including such things as Window and Door Stock, Bevel Siding' Mouldings, Shop Lumber, Sash and F'rames, Log Cabin Siding a.nd Pickets.

This handy buyer's reference, published annually since 1938, also lists Timber-I'abricating Companies, Wood Pipe Menufacturers and Wood'Iteating Companies. A list of commonly used lumber abbreviations is found on the inside back cover.

Your copy of the Where to Buy illrectory may be had wlthout oharge from the West Coast Lumbermen's Adsoclatlon' 1410 S.W. Morrlson Street' Portlanil 5' Oregon.

Johns-Monville ro Build ot Coclingc

Coalinga, Calif.-Johrx-Manville Corp. and tlre Kern County Land Company announce plans to put into commercial production a 1500-acre asbestos deposit northwest of here at 4000-ft. elevation. The two companies have forrned the Coalinga Asbestos Co. for that pur?ose, with J-M owning the majority interest in the subsidiary. A new asbestos mill will be built at the deposit.

ON THE LAUNCHING PAD-H. R. "Cotton" Northup (seated), NRLDA gxecutlv-e .viceDresident. wlth the t{ational's secreta.y, Edward H. Libbey (center), and Intra'lnqu{ry ilelations dlrector. Al Walsh, discusses the propellants that will be used t0 put tne ioint NRLDA-Fedeiated AssoClations membershlp drive In orbit. In this -case' tne brooellants will be the solld varlety-the solid benefits a dealer receives flom mem' ftiihit iii tris trade assoclatlonE. The theme of the drlve ls "G0UilTDowN'--an ?ction iolC-''of'the- spaie tge symbolizing the personal enumeration by dealers of the profit-bullding

Deon Prestemqn to Visit Los Angeles'Februory 7

Dean Prestema.n, National Lumber Manufacturers Association official, will make a trip to Los Angeles X'ebruary 7 to meet with the 1960 National Forest Products Week committee at tlre Chamber of Commerce. Plans will be made at this meeting to start the 1961 promotion which will celebrate the second anniversary of the event. Mr. Presteman will meet with prominent Southern California, lumbermen, including Wayne Muilin, 1960 chairman; Jim Forgie, Harvey Koll, Dee Elssley, Roy Stanton a"nd others.

"We feel highly honored tJlat Mr. Presteman is taking his valuable time to come and confer with us," said Mr. Mullin, "and we hope we can extend the eourtesy of a good turn-out for this auspicious occasion."