THE CALIFORNIA LTJMBER MERCHANT

Jack Dionne, Publisher

Subscripiion Price, $3.00 per Yecr Single Copies. 25 cents ecch LOS

ANGELES 14, CAL]FORNIA, AUGUST I, T957

How Lumber Looks

'Ihe eradual decline in Crow's Lumber Price Index continued in the 2-w:eek period ending July 12, although curtailed pr-od.uction during the long July 4 holiday provided some support.. A buildingtradeJ strike in Sodthern California has virtually dried up demand there, contributing to the tendency of green Douglas fir dimension and 6oards to welken; plank and timbers were also off. Summervacation shutdowns for the mixed-car mills making kiln-dried lumber have helped them maintain prices, altliough dry boards. were weak. No. 3 Ponderosa pine boards slipped a bit more. White fir 2x4 also slumped a little price-wise due to heavy production. Fir and larch boards lost some ground l,og prices on the western

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NRTDA Urge Effect Lower

\ Urges Eisenhower to Lower Downpoymenfs

The National has expressed cor tion does not in lower dou'npayn recently signed t gram to the Prr Paul R. Ely, spr building material half of the new I said July 17 thal the Act should h lou'-cost housing are unable to pu rate specified in t ational Retail Lurnber Dealers Association

The telegram 1

"The statemen une to the effec intend to immedi payments providr of great concern l ing material dealr FHA terms rvor funds for home serve to channel ; mortgage funds needs of the lo, would also offer foreclosed by the opportunity to ol terms, and woul anticipated adve ordered bv the C

:ssed concern at reDorts that the Administra; intend to out into effect at this time )\\rnpayments provided in the Housing Act by President Eisenhorver. In a telePresident, the Association's president, speaking for nearly 30,000 lumber and materials dealers lvho build or help to build he homes built annually in thi country, ' that the new FHA terms authorized in ;hould help to channel mortgage money into and help to provide for veterans rvho le purchase under the unrealistic interest ified the VA Housing Program. legram to the President reads as follows: ;tatement in today's New York Herald-Tribhe effect that the Administration does not immediatelv Dut into effect the lorver downs provided for^in the Housing Act of 1957 is loncern to the thousands of lumber and buildrial dealers of the country. Although the new 'ms rvould not necessarily assure additional r home mortgages. u,e believe they would :hannel a larger portion of presently available : funds into lorver-cost housing to meet the lorv-income families. The new terms iso offer many veterans, lvho are presently d unrealistic 4%% VA interest rate, an ity obtain homes on the new liberal FHA rd would, to a certain extent, minimize the ed adverse impact of the discount controls ry Congres-s."

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