,A, Notionol Plywood Distributors Pond"r4ffi W Business Conditions of Coronodo

Coronado, Calif.-The general upturn in the national economy is helping solve plywood industry problems, but future plywood production more closely geared to demand is essential for market 1-realth and continued industry growth, the National Plywood Distributors Association 1958 annual was told by Owen R. Cheatham, chairman of the board of Georgia-Pacific Corporation.

Starting Sunday, June 22, and continuing through \Aredtresday, June 25, more than 280 members of the NPDA, their wives and families relaxed in the beautiful surroundings of Hotel del Coronado, on Coronado Islar.rd, and enjoyed the ir-rcomparable weather and luxurious facilities of this world-famous resort. From every angle, including hard work and fun, the convention was a tremendous success, according to Mahlon S. Nlunson, nervly elected managing clirector ancl secretary-treasurer of the association.

Promptly at 9 :30 Nlonday moming, June 23, NPDA President Albert Hersh opened the conclave by welcoming all members and presenting new members to tl-re group. He then got right don,n to the business at haud arrd introdncecl tl-re principal speaker of the clay, Cyrrrs B. Su'eet, Fecleral Housing Aclministration cleputy commissioner.

"Ilome builcling is one of the brightest spots in the business outlook," said X'Ir. Su'eet, the former Califomia lumber dealer. I{e predicted there .lvill be betrveen 1,200,000 and 1,300,000 new homes built in the United States in 1958. "The volume of FHA home mortgage insurance applications has been rising steadily eacl-r month of this year, an<l all signs point to a continuatiorr of the u1>u.arcl trencl." he cleclared.

Sweet said the building activity will be reflected in the plywood business and in that of industry in general. llome building sets up a chain reaction, spurring business in many other channels of industry besides l-rousing, he declared. He pointed to the recent about-face in tl-re mortgage market, the increasing optimism among builders, the improved quality of present-day homes, and the liberal financing terms provided under FHA and VA programs, as factors that are making home buying easier. His optimistic viewpoints were received witl-r enthusiasm by the first day "full house" turnout.

Follorving the address by Commissioner Sweet, the calenclar of events for tl-re mornir.rg session included talks by George NI. Pardee, Jr., partner in Pardee Construction Company; Ii,aymoncl G. Booty, president, Booty Resineers Division, American-N arietta Company, and Joseph R. Jones, vice-president, Security-First National Bank, Los Angeles, n'hose subject \\'as "A Look Ahead From the Viewpoint of a Banker." Nf r. Jones is no stranger to the lumber folks and his dynamic talk rvas well received by the plywood executives.

During th.e a{ternoor-I, "Commodore" Frecl B. Smales, west coast vice-president of U. S. Plywood Corp., I-os Angeles, corrductecl tl.re Regatta for the large and small children of the group. A hilarious time rvas had by all participants. C)tl.rer members playecl golf, tenr.ris, swimming ancl enjoyecl an afternoon of relaxation.

The highlight of Tuesday morning u'as the impromptu (Continued on Page 55) SFaam