NOBEBT S. OSGOOD

President, E. H. Petty; Vice President. Ralph Bell ; Vice President, Sam Beecroft; Vice President, J. Knos Corbett; Treasurer, Earl Cox. Directors: Bill Beal, LeRoy L. Bond Harold Britt, Rodney Crorve, S. A. Douglas, Ambrose Halstead, James Henderson, Ralph Heisser, \\'. C. Ketchersid, James L. Lervis, Don McCaughey, Mike l\tedigovich. Floyd B. Olson, Harry Pollock, Charles Roach. Adolph Schwarz, Emron T. Wright.

Directors re-appointed G. R. Michaels, Secretary-I\fanager.

After the reports of committee, Jack Jordan, Nlanager of Lumber Merchandisers in Phoenix, then gave a very excellent report on the activities of this Association in the promotion of the use of lumber and lumber products. Thev are contacting architects, builders, and men in the field assisting them in anv way possible to use lumber producis of the proper grade and in the proper place. A seven minute movie depicting the use of shingles \\-as a part of this program.

K. E. "Jack" Potter, Vice President of First Federal Savings and Loan then discussed "The Open-End l\Iortgage." There has been mu.ch interest sho's'n by the dealers in the state in this subject, and the situation u'as detailed very carefully by Mr. Potter, rvho pointed out that verv few now existing mortgages contain clauses, u'hich rvould permit open-end financing, and that it is not permissible under V.A. and F.H.A. mortgages. Although, he did sa1tl.rat some financial institutions norv have clauses, rvhich permit them to open-end. It, therefore, appeared that the true solution to this problem would be to encourage lending institutions to adopt similar programs.

After time out for lunch, everyone was on hand to hear Bob Ringer, Sales Consultant from Hollyt'ood, California, talk on "You Gotta Sell in '53." The best indication that this was a good talk rvas the fact that he held his audience for one hour and fiteen minutes-no one fell asleep or left the room. His talk was a real inspiration, constructive, and spiced with enough humour to put over the points.

At 6:00 o'clock (Saturday), First Federal Savings and Loan put on their Annual Cocktail party, rvhich are alrvays good and well attended-Jack Potter and Francis Pool acted as hosts. Joe Rice rvas ill and unable to make it.

This was followed by a steak dinner at the El Tovar;

Logan l\fcFadden 4cted as toastmaster and pulled one out of the hat by presenting a real magician in Billy }tedigcvich. He also introduced the officers for the coming vear and made presentation of the golf arvards.

This rvas follorved by a dance, and the music rvas good. \\re had I\fax Bailey's band from Flagstaff College. \Ve are grateful to Carl Hollings and Harry Pollock in Flagstaff for arranging this music and their transportation.

The convention fortunate in having the follorvig exhibitors: Celotex Corporation. Douglas Fir Plyrvood -\ssociation. Mallco Hardrvare f)istributors, Masonite Corpor:rtion. Simpson Logging, U. S. Plyrvood Corporation.