tAWREilGE,PHIIIPS LUMBER GO.

afternoon a luncheon was arranged for the ladies at the Shamrock Hotel. The annual banquet was held October 6. Sightseeing trips were taken to nearby points of interest including the battleship Texas, San Jacinto Battlegrounds and Monument, the llouston Ship Canal, and throughout the beautiful residential sections of Houston.

September Housing Srors Up

Nonfarm housing starts advanced in September to ll4,000, contrary to usual seasonal trends. The number of new nonfarm dwelling units started was 3 percent above the August figure; it exceeded September 1953 volume by 20 percent, making the second best September on record, according to preliminary estimates of the U.S. Department of Labor's Bureau of Labor Statistics.

Private housing starts, alone, stood at 111,900. On a seasonally adjusted annual rate, this represented l,Z3Z,Ufi starts. This annual rate lvas greater than for any month since January 1951. The strength of housebuilding activity in September may be attributed in large degree to the liberalized mortgage loan provisions of the Housing Act of. 1954, and to the ready availability of mortgage money on easy terms in most communities.

During the first nine months of 1954, the number of nelv dwelling units put under construction totaled 906,500, about 5 percent more than in January-September 1953 arrd above the total for any comparable period except in 1950. The near-record volume thus far in 1954 was achieved despite the drop in public housing over the year, from 32,6ffi units to 17.100 units.