GULF PACIFIC

tAllD & tUfrlBER C0. of California

John Dlckens 5-2897

Ed HANSON TWX: Resedcr 7340 KARST olso: Medford, Ore. o Tucson, Ariz. o Dqllos, Tex.

* REDWOOD ond DOUGTAS FlR, * Represenling

KAIBAB LUflTBER CO.

Speciolizing in WHITE FIR . PONDEROSA PINE . SPRUCE

Mills ot: Fredonio, Flogstofi, Holbrook, Ariz. o WonshiP, Utoh factor contributing to the present tight-money situation in the mortgage market.

"The distortion in the relationship betlveetr short atrd long-term interest rates has had other aclverse effects on home building," Mr. Nortl-rup said. "It is frequently advisable for mortgage companies to bridge the irregularities in the allocation of long-term institutional funds by carrying an inventory of mortgages financed b1 short-term bank credit, a practice known as 'mortgage warehousir.rg'. Present conditions make this imoractical because it costs more than it retunls. Builders aie thus deprived of a service needed to assure availability of fur.rds a1 the seasons o{ the year when they are most needed.

"Furthermore," he added, "the clistortecl ler-el of shortterm rates unduly increases the cost of cotrstrtrction mouey ancl adcls directly to the cost of housing."

Oregon-Pocific Adds Merchondisers To Expond Disfribution Fociliries

Oregon-Pacific Lumber Company of Portland, Oregon, has added three men to its lumber merchandising staff in order to expand its facilities for carload distribution of West Coast lumber throughout the country, according to Jack Saltzman, president.

E,xpansion of the staff was accompaniecl by a reorganization in which each member has been assigr.red a specific distribution territory, so that he will become acquainted rvith individual customers and their uarticular reouirements irr that territory. lrr addition to saies arrd distribirtion duties, each man also works directly with a group of n-rills for whom Oregon-Pacific regularly markets lumber.

Tony Klobas and Bruce Neitling are llew staffers who r,r'ill join Darrell Robinson in serving parts of the East coast, the N,Iidwest, and Southrvest, including Texas ancl California. Klobas, a native of Bend, has had nine years' experience in the logging and lumber business. He is a University of Oregon graduate, and an air corps veteran of World \\:ar II. Neitling, one of the youngest men on the Oregon-Pacilic merchandising staff, has ha<l several years background in various types of lumber sales. Anson O. Baker was namecl to work with Malcohn Herd in dealing rvith trade outlets in the westeru North Cer.rtral states, tl.re Nliddle ancl South Atlantic seaboards. Baker was oreviouslv sales manager at l{ampton Lumber Compat.ry in Portlanci.

Oregon-Pacific is a carload distributor of lumber ancl plywood tl.rrougl.rout the United States. The firm's modern heaclquarters is in Portland and, in addition, it maintair-rs full-tirne sales offices in Denver ancl Los Angeles, and a four-man staff in Kamloops, B.C., to serr-e the procluction of interior Canadian mills.

Osborne qnd Morkhom Form Compony

Two former officials of Claremont Woocl Products Co., A. Lou'ell "Al" Osborne and S. NI. "Bucl" \Iarkham, have anrrouncecl formation of the Bidwell Manufacturing Company, to be located in Chico. Osborne and Markharr.r ar.rticipate opening'on or near April 1, it was clisclosed.

Los Osos Yqrd Joins TMANC

Tl-re Lumber Merchants Assn. of Northerr-r California, San Frar.rcisco, has welcomed it-tto neu' membership this montl.r the Cascade Lumber Sales yarcl at Los Osos, Calif. Tom Cher"roweth is managing partner of the retail yarcl.