Reported in The California Lumber AGO Merchant, TODAY July 15, 1933

The Southern California retail lumbermen's picnic at Brookside Park, Pasadena, June 24, brought out 300 dealers, wives, families and friends. Steve Hathaway captained the cement companies furnished the ice cream and coffee, and Elue Diamond supplied the pies for that eating contest. Grey Skidmore's daughters made handmade bidges for everyone. George Riley was chairman of the picnic program, assisted by J. C. Stark, Joe Hill, Wm. T. Davies, Orville Higley, Don Philips, Phil Curran, W. J. Anderson, C. Gilson, and Emil Swanson. Chairman of the Prize committee was I{. J. Nunnelly, assisted by Ross Blanchard, A. C. Penberthy and J. E. Martin. The Arrangements committee was headed by Earl Johnson, assisted by Paul Halllngby, A. J. Stoner, Ross Blanchard, Henry Adams, Phil Curran, M. E. Downey, Roy Sandefur and Kenneth Smith.

Retailers, and Lloyd Cole the Wholesalers in the baseball game umpired by Kenneth Smith. (The Dealers won 17-2.) game_umpired Smith. (The won l7-2.) The Dealers also won the tug-of-war. W. J. Anderson and and V. B. Nygaard won the men's log-sawing contest teamed against Art Penberthy and A. B. McKee. There were many more.exciting gamgs during the happy afternoon. and many grand prizes supplied by the fine supplier firms. The L. A.

The Associated Independent Retail Lumber Dealers of Southern California temporarily suspended activities July 1, owing to changed conditions, the effectiveness of the Lumber and Allied Products Institute, and the new NRA law. The Executive committee included O. H. Barr. Frank Burnaly, Frank L. Fox, M. E. Downey, S. J. Hathaway, Sam T. llayward, Earl Johnson, and Curtis Williams, secreta,ry . . . Larue J. Woodson presided at the June meeting of Oakland Hoo-Hoo Club 39 in the absence of President Earle Johnson, reported Secretary Carl Moore

Four pages of fine print in this issue are devoted to the annual meeting of the National Lumber Manufacturers Assn. at Chicago, July l, at which a national lumber code was drafted. ft was the largest gathering of all divisions of the lumber industry in manl years. -The Emergency National Committee remained in session in Chicago following the meeting.

E. S. Case of the Vallejo Lumber Co. attended the Kiwanis convention in Los Angeles Roy E. Hills of Wendling-Nathan Co. vacationed with his family in 'Wawona : . W. J. Mulligan & Co. of San Francisco is now represent- ing five mills; John Olson manages the L. A. office The I oop Lumber Company has an anniversary writeup in this issue. Officers of the San Francisco firm are Wilfiam Chatham, E. S. Brush and A. F'. Bulotti, while Clement Fraser manag'es the Alameda yard.

Robert L. Reedy, for many years salesmanager of the Wheeler Osgood_ Co. until he went to the Honolulu Planing mill last year, died back in Tacoma, June 23 . C. H-. Griffen, Jr., general manager of the California Redwood Association, returned from an eastern trip. He had gone east in_c-ompany with C. R. Johnson and A. S. Murphy for an NLMA conference , . Mrs. Oscar Miller of the Knox Lumber _C_o., Sacramento, attended the World's Fair in Chicago

Henry M. Hink, salesmanager of the Dolbeer & Cars6n

Ltrnrber Co., rvas e\l)ected back July 21 lron 1-ris vacation in the Trinity Alps resort.

Irving Jennings, who operatecl retail yards in Arizorra antl Te-ras, dicrl at 52. His son Lorris runs the yard at StalTorcl Charles G. Bird of the Stocktotr Lun.rber Co. had a narrow escape in an anto accidellt July 9 A $500,000 fire swept the Kirchmann Harclu,oocl Co. ir.r San Francisco, Jur-re 30 . . Jack Dionne has a 2-page article irr this issue explailtirrg tl-re National l{ecovery Act . . . H. H. Barg of l}arg, Ziel & Co. r'isited Los Angeles . J. Walter Kelly of the Chas. R. l'lcCormick Co.. and Frances A. Diehl were married irr Reclrvoocl City. June 26.

Equipment leosing Rises

Sar.r Francisco-Despite the current dip in capital spendir.rg, leasing of capital equiprnent ir-r the first four months of 1958 shorvs a 14/o gain over the sir.nilar period of 1957, according to United States Leasing Corporation. The largest users of leased industrial equipnrent today are 10 nranufacturing industries: pu$, paper ancl allied proclucts; electrical equipment and machinery; chenricals and <lrugs; rubber products ; fabricated nretal products ; petroleum refining; food products ; lumber and r,l'ood proclucts; aircraft and parts; and printing and publishing. Lumber compar.ries are leasing whole planing mills.

Major reasons given by manufacturing cor.npanies for leasing assets today, according to U. S. Leasing Corp.'s findings, are (l) tight r,r'orking capital ratios, (2) the preservation of cash for later expansion, and (3) tl.re desire to keep liquicl capital u'orking in the busir.ress rather than having it tied up in equipnent assets.

For companies ir.rterested in examining the advantages and disadvantages of leasir.rg industrial equipn.rent or even entire plants, a recent studv might be helpful. E,ntitled "Leasing and American Industry," it is available free by writing to The Foundation for Nlanagement Research, 121 \\rest Adams St., Chicago 3, I1l.