This House \(/as Built for Approximately Employees Share in Retirement Program $3r000-Now Open for Inspection

Lancaster, Pa., June 1S.-Nearly one hundred per cent o{ the domestic employees of the Armstrong Cork Company are participating in a retirement program, designed to supplement Federal Social Security benefits, according to an announcement by H. W. Prentis, Jr., president of the company.

The program applies to both hourly workers and salaried employees in the company's twelve plants as well as in all offices and warehouses. The program consists of two plans -an insured plan which covers service rendered from June l, 1937, forward, and an uninsured plan which pertains to service prior to June first.

f, "pcckcge housa" that cbo built under F.ILA. locn plcrs eo thct thc moathly inslallngfl3 mcry be cs low at $31.50 per nonth ia rhowa bere cr c,rolution to the low coet housing problen Fincrnced through the Sccurity

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McGETTIGAN-McNEVIN

Miis Lilian Monica McNevin and Bernard Dudley McGettigan were united in marriage at four o'clock, Wednesday afternoon, June 30, at the St. Vincent de Paul Church, San Francisco. The bride is the daughter of Mrs. Peter Collins McNevin and the late Peter C. McNevin, who for many years was an executive of The Pacific Lumber Company.

Participation in the program is entirely optional on the part of employees, Mr. Prentis stated. On their own volition, employees who participate in the insured plan agree to set aside a definite percentage of their earnings each month. The company pays the balance of the cost to provide the employee's retirement income under the insured plan. The entire cost of the uninsured plan covering prior service, which the company hopes to put into effect, will be borne by the company.

In announcing the plan to Armstrong employees, Mr. Prentis said: "Seldom, if ever, have I had the privilege as an officer of the company of making an announcement which gives me as much personal pleasure and satisfaction as does the presentation of this carefully thought out pension program which rvill provide for the comfort and peace of mind of all our employees as the years pass and we all grow old together."

West Coast Visitor

Burdett Qreen, secretary-manager of the American Walnut Manufacturers Association, Chicago, Ill., was a California visitor last month where he spent several days calling on the hardwood trade in Los Angeles and the San Francisco Bay district. He attended the annual meeting of the Pacific Coast wholesale hardwood dealers at Victoria, B. C., on May 27,8 and D.

The Association has just issued a booklet, "Walnut in the Art of Gracious'Living." The book is illustrated with many beautiful photographs in color which show the beauty and versatility of Walnut for interior woodwork, furniture, etc.

$1,951,000,000 in Home Mortgage Hearing on "Ellective Date Rule" Loans Madein 1936

Washington, D. C., June 19.-Of the total of approximately $1,951,000,000 in home mortgage loans made on one to four family non-farm houses during 1936, thrift and home financing institutions supervised by the Federal Home Loan Bank Board or eligible for membership in the Bank System, loaned $1,051,000,000 or 54 per cent, John H. Fahey, Chairman of the Board, announced today.

These loans were made for new construction, refinancing, purchase, and modernization of urban dwellings. Individuals loaned about $600,000,000 of the aggregate total, or 30 per cent, and commercial banks $300,000,000, or 15 per cent, Mr. Fahey stated.

He estimated that loans for new construction amounted to $625,000,000 in 1936, of which $156,000,000 was loaned by member institutions in the Federal Home Loan Bank System.

At the close of 1936, home mortgage loans outstanding in the United States aggregated $17,799,000,000, Mr. Fahey said. Members of the Bank System, together with the Home Owners' Loan Corporation, under supervision of the Federal Home Loan Bank Board, held a combined total of $4,806,000,000, or 27 per cent. The holdings of all institutions eligible for membership in the System, added to this, brings the total to $1O,569,000,000, or about 6O per cent.

The Board, created by Cong'ress in 1932, supervises the Bank System, comprising 12 Federal Home Loan Banks. These have 3,859 member institutions, with estimated resources of $3,375,000,000.

The System, Mr. Fahey said, in less than five years has become the largest and most comprehensive mortgage reserve system in the world, operating in the field of small home mortgages. These represent the greatest single unit of the total private debt of the country.

Held at Seattle

Seattle, Wash., June 1S-West Coast lumbermen have completed testimony and arguments here, against the United States Maritime Commission's temporary suspended "effective date rule" to regulate steamship tarifis on cargo moving under intercoastal lumber rates.

The rule, originally published to take effect on May 10, but suspended on protest of the West Coast Lumbermen's Association, Seattle, would subject lumber shipments through the Panama Canal to Gulf ports and the Atlantic seaboard to the freight rate in effect on the date of loading, instead of on the date that space is booked.

W. C. McCulloch, West Coast Lumbermen's Association attorney, presented many witnesses before Examiner G. O. Basham of the maritime commission's division of regulations to support a contention that this rule would seriously confuse the lumbermen, as it is the customary practice to sell lumber one to three months prior to shipment. It rvas also contended that the rule might lead to prejudice ancl discrimination by carriers.

No witnespes were presented by the carriers, although they were represented by Attorney M. G. de Quevedox. Briefs in the case are to be filed.

A decision by the maritirhe commission is expected within ninety days. Meanwhile, it was understood the "effective date rule" would continue under suspension.

Witnesses for the lumbermen's Association were J. C. Lass, who testified as to the manner of loading lumber cargo; K. C. Batchelder, traffic manager of the association; R. E. Seeley, manager of the Puget Sound Associated Mills and chairman of the maritime committee of the lumbermen's association, and E. Strange, general sales manager of the Canyon Lumber Company, Everett' E. Houston also testified.

When You Sell

Booth-Kelly Douglar Fir, the Agsociation grade and trade mark certify to your cuetomerg t-he quality of the stock you handle. Builders quit guecsing about what tfiey're buying, and buy where they know what they're getting.