tWoa'inq 4lerrq

SINCE | 938 if hos been our policy to look bqck over eqch yeor iust post ond conlemplole on lhe fulure qnd our sleody growth qs o wholesole dislributor of lumber qnd qllied wood producls. fhonks to the loyolty of our nony friends we look towqrd 1951 qs q yeqr of greot promise for oll of us. We pledge our conlinued eftort in servicing our qccounls in the propet mqnner 5o we will grow slronger wifh our old cuslomers--<nd develop with our new polrons who ploce their conftdence in us. lt is our good forlune to enioy successful cusfomer occeplonce of the QUAIIIY -FOREST PRODUCTS we furnish. We sholl conlinue lo ofier the BEST ttiATERlAt obtoinqble to the Commerciol ond lndusfriql users of lumber.

SPENCE

DICK HUNTFRANK TUCKERJIIA GAUI.TART ASHBY

DICK RICHARDS"B93" FORETYIAN