DINT & BI]S$tt[ $Att$ C0.

Revision of Credit Regulation X Disappointing, Says Northup

The revision of Credit Regulation X just announced by the Federal government is extremely disappointing and will have little or no helpful effect on the housing market, H. R. Northup, executive vice president of the National Retail Lumber Dealers Association, stated today (Monday, June 9).

"The reduction in downpayments is so slight, except for the lowest priced homes, that it will afford no important relief to families seeking larger homes or to builders who have such homes standing vacant for lack of buyers with sufficient downpayments," Mr. Northup said.

Douglos Fir - Redwood - Western Red

Gedor

- Pine - Port Orford Gedor

Shingles

By

SHIP-RAIL-BARGE

TR,UCK AND IR,AILER

Representing

Goos Boy Lumber Co., Coos Boy

Inmqn-Poulsen Lumber Co., Portland

Coqst Pqcific Lumber Co., Eurekq

Hcnley Lumber Go., Eureko

High Sierrcr Pine Mills, Oroville qnd other

Northern Cqlifornis ond Oregon Mills

OFFICES

1455 Custer Ave.

SAN FRANCISCO 24

Mission 8-4332

812 Eqst 59rh St.

I.OS ANGELES I

Adqms SlOl

Warehouse Stocks Of Ptywood And Doors

SAN FRANCISCO 24

1455 Custer Ave.

Mission 8-4332

OAKTAND 3

9029 Son leqndro St.

Lockhqven 9-7914

WAR.EHOUSE STOCKS OF LU'NBER, PLYWOOD AND DOORS tOS ANGETES I

700 Eost 59th Si.

Adoms 8l0l l57l 5o. 28rh 5f.

SAN DIEGO 13

Frq,nklin 7425

"The:e is no sound reason for maintaining such tight control over housing credit when restrictions have been completely removed on appliances, automobiles, and other goods. It is difificult to escape the ,conclusion that government officials are using superfluous emergency powers for the purpose of programming housing in such a rvay as to fit their own social aims.

"A recent nationwide survey conducted by members of NRLDA's Executive Committee showed that in many parts of the country large numbers of homes priced at $15,000 and up are completed but unsold. Prospective buyers are eager for the homes but can't raise the excessive downpayment required in the name of a credit emergency which seems to exist only in the field of housing

"fnasmuch as Federal agencies refuse to take the necessary administrative action, our only alternative is to place the facts before Congress and urge that their authority to maintain controls over housing credit be removed entirely."

Philippine Mahogany Association !(/ill Hold Annual Meetins July 13-16

The Philippine Mahogany Association will hold its annual meeting at the Stanley Hotel, Estes Park, Colo., on July 13-16, 1952. They expect to have an exceptionally good meeting this year, and many problems affecting the dist.ibution of Philippine mahogany will be discussed.

Association offrcers are: President, Walter Scrim, Scrim Lumber Co., Los Angeles; Vice President, Hor,vard R. Black, Black & Yates, Brooklyn, New York; SecretaryTreasurer, Roy Barto, Philippine Mahogany Co., Los Angeles; Assistant Secretary-Treasurer, George Scrim, Scrim Lumber Co., Los Angeles; Recording S€cretarr-, George Purchase, San Francisco.

Association directors are : J. Raymond Peck, Insular Lumber Co., Philadelphia; Frank J. Connolly, \Vestern HarCrvood Lumber Co., Los Angeles; Thomas B. Bledsoe, Brorvn-Bledsoe Lumber Co., Greensboro, N. C.; John G. Ziel, Ziel & Co., Inc., San Francisco; S. M. Nickey Jr., Nickey Bros., Memphis, Tenn.; J. K. McCormick, Winde

I\[cCo:mick Lumber Co., Charlestorvn, Mass.; \\ralter Scrim, Roy Barto and Horvard R. Black.

Park