ROLTS BY.O'O

At this time, every yecr, we like to tcke stock crnd review our position with respect to our Redwood Lumber Declers. This yecr, pcrrticulcrly, we find ourselves more deeply indebted to our dealers ihqn ever belore. In the lqce ol delcrys cmd shortcrges, cB well as limitcrtions imposed on supply by urgent wcr re' quirements, our declers have shown the most pcrtient considerc' tion plus cr complete understcurding oI our problems. We, in turn, hcrve been constcntly.cwcrre oI their situction cnd ol their needs. As this yecr comes to cr close, the one thing cbove everything else we rrish to express is our grctelul crpprecigtion lor the close cooperation displcryed in cll oI our declings. Mcry we crlso extend our hecrty wishes lor a.merry Chrishncs cmd c victorious New Yecrr.