E. K. Wood Lumber Co. Quits the Industry After 62 Yeqrs

The E. K. \Vood Lumber Company, major rvest coast lumber Droducer and dealers for 62 years, announced in San Francisio October lb that it rvould terminate operations. Thus the respected old E. K. Wood concern joins tn'o other old-line family held corporations, the Han.rmond Lumber Company and the Patten-Blinn Lumber Cor.npany, in passing from the California scene in the past two years.

The decision to clissolve E. K. Wood u,as apProved by stockholders at a special meeting, Oct. i6. A statement by President Warren Wood said : "In compliance rvith the decision, the sar,vmill at I{eedsport, Ore., rvill be shut dorvn and the retail yards in Southern California closed just as soon as existing commitmernts to customers are fulfilled and inventories sold."

Charles E. Ridenour, a r,ice-president, San Francisco, said the concern had al>out 350 employes on its payroll. He reported the major stockholders in the firm, a closely held familv operation from its start in 1895, apparently mutually desired fo get out of lumber operations.

The E. K. \V<,,od l-umber Co. n'as incorporated in California in 1895 out of a business originally started as a partnership in Nlichigan in 1888. Partners rvith E' K. Wood included Clarence A. Thayer and Orson M. Kellogg. During its he1'day, tl-re firm operated a large fleet of lumber sc6ootrer..- One of these, the C. A. Thayer, arrived from Seattle last month to become a part of the San Francisco Maritime Museum (Editor's note: this story u'ill lle a feature in the forthcoming December I Christmas annual issue).

O{hcers of the licluidating firm were Warren E. Wood, Pasadena, president; John B. Wo-od,-Oakland; Frederick J. Wood, I'a-sadena, and George D. Kellogg of Hoquiam, Wash., and Mr. Ridenour, all vice-presidents. Mrs. Marion

Wood Fee, Orinda, Calif., was secretary-treasurer, and O. C. Kellogg, Portland, Ore., was assistant secretarytreasurer.

The four branch 1'ards of the E. K. Wood Lumber Co. in the Los Angeies area u'ill be closed as a result of the company's decision in San Francisco to terminate all its operations. O. R. Hall, manager of tl-re Southern California yards, said between 5O and 60 employes of the 1'ards in \\rhittier, Long l3each, Van Nuys and Temple City u'ill be affected. Inventories at most vards rviil be sold tvithin four months, it u'as said.

To Push Hcrwqiiqn Timber

The U.S. Forest Service will shortly begin a nerv research project in Hawaii, with headquarters in Honolulu, according to C. Eric Reppun, president of the territorial board of commissioners of agriculture and forestry, and Dr. Keith Arnold, director of the Forest Service's California Forest and Range Experiment Station in Berkeley. This project was author\zed by the Washington, D.C., office of the Forest Service. At the outset, tr'r'o major lines of u'ork will be conducted: a survey of the forest resources of the islands and cooperative assistance in forestry programs on public and private lands, under the guidance of C. A. Connaughton, U.S. Forest Service regional forester in San Francisco.

The survey will compile the first accurate inventory of the forest areas in the territory, the volume of standing timber, annual tree gro'lvth and mortality, and the extent of timber cutting. Demand for locally produced u'ood is expanding, according to Mr. Reppun, because of the high cost of imports and the need for new industries to help support the increasing population of the islands. Furthermore, 'tl'ater from forest and brush-covered lands is a critical item in island economy.

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Koehring Compony Announces Equipmenf 'Buy-Bock' Plon

A "Buy-Back" plan, intended to increase the availability of bank credit for contractors and other customers, is announced_ by Julien R. Steelman, president of Koehring Co. Under the plan, Koehring will underwrite credit arrange- , arrange- :d between the ecuioment buver and his ments negotiated equipment buyer !ank. A descending scale of values has been set up at which Koehring Co. will-repurchase the equipment if 'the buyer defaults in his payments. As a result of the new credit sup- port plan, Koehrins products will have resale market val- port plan, Koehring products uation to lending banks, similar to that of trucks and automobiles. All Koehrins divisions and subsidiaries. includine Koehring nd subsidiaries, including Koehring California, Stockton, Calif., are covered by the plan.

Steelman called the plan "another step in the cooperation needed between customer, banker. distributor and manufac- turer in order to achieve the most efficient financing of the nation's construction and industrial equipment requirements." The Koehring "Buy-Back" plan works eithe? for sales through distributors or sales made directly to customers. Generally, the schedqle of buy-back prices, except in the early months, would exceed the unpaid balance due on the insiallment credit. lfowever, the iepurchase price would be limited to the unpaid principal, plus accrued interest. i,t [*,

Steelman said that the newly adopted plan will also work in cases where Koehring distributors handle their own financing. Similarly, where distributors deliver equipment on a straight lease or a rental purchase plan, Koehring may underrvrite the financial arrangements.

Koehring divisions and subsidiaries will continue their traditiorial use of floor-planning machinery when availability permits.

New BUILDING Developm O

Los Angeles.-Construction has begun on a ffiO,000 apartment building at 1361 N. Laurel Ave. The 20-unit building witl be of wood frame and stucco construction and include paneled dens, sliding glass doors and louvered windows when completed in December,

Torrance.-The Unified School District will seek more than $7 million to build four new schools here: the Calle Mayor, Hamilton, Jefferson and Magruder elementary schools, and the Columbia school for metally retarded. The board has asked condemnation on a 4O-acre site for West High school at Del Amo and Henrietta.

I-a Habra.-Single-family dwellings accounted f.or $1,7 52,' 269 of the August building permits total of $1,828,764 here and included permits for a 14olot tract.

Glendora.-Ground was broken for the new Glendora High school on 40 acres at Valley Center avenue and'Foothill boulevard to house 2,000 students. The first two sections at $1,736,500 are due for completion next fall and total buildine within two years.

San Diego.-A $1,234,500 bachelor officers' quarters project at the USNTC will be built on the southern tip of the Center.

La Puente.-Bids have been, opened f.or fr additional classrooms in the Hudson district. W. T. Wadley Construction of El Monte was low bidder at $427,2N for 12 classrooms, tryo kindergartens and a multi-purpose unit at Temple Avenue school, and Deweese Construction of Covina bid low of $119,285 on five classrooms and a kindergarten at Hillgrove school.

Point Mugu.Murray-Sanders Constructiol Co., Santa Ana" was awarded the contract of approximate- ly $5,6fi),(M) to construct the 360-home Capehart liousing project here. Work was expected to begin within-50 days on the housing p'roject at this Naval air missile testing center, and require an estimated 4,500,000 board feet of lumber. The development was designed by Architect Hugh Gibbs of Long Beach.

Cypress.-A $20,000 permit for construction of a go_lfcouise clubhouse at 496I Katella Ave. was issued by the Orange County Building Dept. to Frank Vessels, owner of the Los Alamitos racetrack.

La Habra..-Alondra fnvestment Co. received approval of a tentative tract map for 220 $15,000 homes at La Mirada and Ocean avenues; single-family residential zoning was applied for in the area, which will include an ll-acre school site within the 50 acres.

Buena Park.-Permits for 155 new dwellings valued at nearly $2 million were issued to Tietz Consfiuction Co., Gard6n Grove, for 83 homes at $906,00O, and to Buena Park Estates Lor 72 homes at $797,4&.

Carpinteria.-Permits totaling $368,300 were issued to the Hunny Investment Co. for 29 new homes to be erected in Canalino Village on Nipomo, Linhere and Malibu Drives.

Lynwood.-The Stite Division of Schoolh_ouse Planning has ipproved plans of the Lynwood Unified School District for a- l2-classioom building at $174,00O and, later, two 2' story buildings and other essential space at $820,000.

Buena Park.-Plans have been ordered for a new school on 8th street and for additions to the McComber school.

Santa Ana.-An l8-unit apartment valued at $112,000 will be constructed at 1001 French St. by Richard Barton.

Tustin.-The Orange County Planning Commission approved plans for a new school on9rl acres on the south side of Mitchell avenue west of Red Hill avenue.

Santa Ana.-Newport Building Corp. will build 96 tract homes valued at $768.00O in southwest Santa Ana on S. Greenville, W. Harvard and S, Griset streets, W. Glenwood, W. St. Gertrude and Camden Places.