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No Selectivity

An oil man struck it rich, and found himself in the big chips, so he started spending his money freely. He fairly showered his wife with expensive gifts.

One day he phoned her and said: "I just bought you two beautiful presents, and they'll be delivered today."

She asked: "What are theY?"

He said: "A Rollys-Royce and a Rembrandt."

Editor Says We Move DcrngerouslY Close to Socialism Todcry

The July 15th bulletin of the Southern California Retail Lumber Association quotes an editorial dated July 7th from the Jackson Daily News that warns of socialistic perils frorn our present tax trends. The editorial says that private enterprise has failed to survive in any country where taxes consumed 35 per cent of the income of the people, and that since our government is now taking 33 per cent of our national income, we are perilously close to socialism. It believes that if present tax bills before Congress are passed the tax bill in this country will pass 40 per cent of the people's income, and threaten us with disaster.

"Take a look at England and France," says the editorial in closing, "and you will see that socialism'has never yet succeeded in distributing the wealth-only the poverty."

Los Angeles Building Permits for June

Building permits issued by the City of Los Angeles during June totaled 5,196 with an estimated valuation of $29,434,964 compared with 6,252 valued at $33,513,953 issued in the like month a year ago. In the first half of 1949,27,800 permits valued at $146,044,199 have been issued as against 35,M9 at $192,998,831 in the like period of 1948.

Later that day she called up, and asked: "What did you say you were sending me?"

He said: "A Rolls-Royce and a Rembrandt."

She said: "One of them just came."

He said: "'Which one?"

She said: "IIow the hell do I know?"

Importcnt MilI Merger

Tacoma, Wash.: Willapa Harbor Lumber Mills and White River Lumber Company have been merged into the Weyerhaeuser Timber Company. Weyerhaeuser has owned about 70 per cent of the Willapa stock since 1931, and about 59 per cent of the White River stock since 1929. An exchange of stock now absorbs the two milling companies completely into Weyerhaeuser. Willapa stockholders received one Weyerhaeuser share for five Willapa shares, and White River stockholders exchanged one share of their stock for three Weyerhaeuser shares. Weyerhaeuser shares are worth about $55 each.

Plywood Output Increcrses Slightly

Washington-The Commerce Department today estimated softwood plywood output in May at 154,677,000 square feet, l/o over the 153,516,000 square feet produced in April and 2/o above the level of May 1948.

Shipments and consumption during May were listed at 152,137,000 square feet, compared with 158,279,000 square feet in April and 15A,924,N0 square feet in May of last year.

The department estimated stocks on hand at the end of Mav at 77,811,000 square feet. At the end of April it reported 76,148,000 square feet on hand and 40,778,000 square feet on hand at the end of Mav 1948.

JAMES L. HALL

Pactfic

COAST

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