Lumber Lowest in Business Failures

The national credit rating firm of Dun & Bradstreet has issued an analysis of business failures for 1953 that includes a very complimentary rating for the lumber industry.

The report states that the wood business was at both the top and bottom of the failure rates last year per 10,000 business concerns, with furniture leading the list of fatalities with 186 out of 10,000, and lumber lowest with just 13 out of the same number. Certainly the lumber industry has a right to feel proud of that fine report. It means that out of every one thousand lumber concerns in business in 1953, just 1.3 failed during the year.

In general business, the Pacific Coast states were highest in failures per 10,000, with an average of 86.9, and California leading with 108.9. In the 53-year record of business failures, the report states that the peak was 154 in L932, and the lowest was in 1945 with just four per 10,000.

It was explained in the report that business failures means those that ceased operations following assignment or bankruptcy; ceased with loss to creditors after such actions as execution, foreclosure, or attachment; voluntarily withdrew leaving unpaid obligations; were involved in court actions such as receiverships, reorganizations, or arrangement, or voluntarily compromised with creditors.

The report concludes that "business failures are human failures," lack of managerial ability and lack of experience playing the major part in the history of business failures.

Again, a pat on the back for the lumber business.

SCRLA Conference Dqtes Set

The definite dates of November 16 and 17 have norv been fixed for the annual Retail Lumber Dealers Conference to be held at the El Mirador hotel in Palm Springs this fall, reports Orrie W. Hamilton, executive vice-president of the Southern California Retail Lumber Association.

Hamilton said the program is shaping up nicely and he is now securing additional discussion leaders. Subjects to be covered at the Conference have been listed in previous issues.

Do Wirhout ltt'

Please find $3 to cover my subscription to the famous CALIFORNIA LUMBER MERCHAN'I. Find, like so many others, can not do without it.

Earl R. Reynolds Whittier, Calif.