[Continiiril fnnn inii/c 20) 

 practically iloublcs the January valuation of $12,580.1:^0 ami leads by a 

 wide margin the valuation in any other city. According to recent reports 

 from New Vijrk. the new exemption law, which in effect excludes new 

 residence iniildings from the burden of local taxation is resulting in many 

 plans for one family and two family bousing. 



Not all cities show a pickup in February activity. Comparing 189 cities 

 for the first two months shows February activity greater in 122 and 

 January activity greater in flT. Of the cities in the million-dollar class. 

 Indianapolis, New Bedford. Detroit. Kanssis City, Cincinnati. Cleveland 

 and I, us .\ngeles show February recession. 



Clubs and Associations 



Memphians Amend Constitution 



The l.umlM'rnien's Clnl) of Mcinplns, nt its rennlnr soiiii-iiiontlily iiieetini: 

 at th<' Hotel Uayoso Saturday afternoon, March 11). adopted amendments 

 to its constitution and by-laws whereby secretaries and managers of lumber 

 organizations are made eligible to membership, dues of iictive members are 

 increased from $20 to $25 per annum, provision for an annual lianquet on 

 the part of the club is eliminated, and the quorum is changed from 15 to 50 

 active members. 



The recommendation of the committee on law and insurance for the 

 creation of an arbitration board to consist of the former presidents of the 

 club was resubmitted to the committee for redraft. This will likely pro- 

 vide, in the new form, that arbitration be optional rather than compulsory 

 and that the only penalty accruing will be from failure to accept arbitra- 

 tion award after having agreed to submit to arbitration. Intense objection 

 developetl to the plan of making it compulsiu-y upon members, under pen- 

 alty of expulsion for one year, to submit to arbitration with non-members. 

 and this accounts for the resubmission. 



The club endorsed the action of the hoard of directors in electing H. .T 

 M. .Torgensen as national councillor of the organization in the TTnited 

 States Chamber of Commerce, and voted to pay his expenses to the annual 

 of this hotly. It also voted an appropriation of $100 to pay for a page in 

 the booklet entitled "'Seeing Memphis." 



Joe Thompson, first vice-president^ occupied the chair in the absence of 

 President J. H. Hines. who was in New Orleans on business. 



National Wholesalers' Program Prepared 



The |)r(igr;nii l<ir l be I wen t.\' ninth ;uinu;i I meet in, u nf i Ih' Nm timiji 1 

 Wholesale Liuuber Healers' Association to be held at thi' lUaUc Ilntcl. 

 Chicago, Tuesday ami Wednesday. March 29 and 30, is rajiidly developinu. 

 At the Tuesday iiKirning session, .Joseph R. Noel, president of, the ('hicagn 

 Association of Coinnu'rce. and N. S. Mather, president of the Chicagn 

 Lumbermen's Association, will deliver l)rief addresses. A feature of the 

 convention will be a discussion of business conditions and prospects par- 

 ticipated in by representative members of the industry from the several 

 sections of the country. R. W. Vinnedge of Seattle. Washington, president 

 of the West Coast Lumbermen's Association, will discuss lumber manu- 

 facturing conditions of the West. S. M. Nickey of Memphis, will eovi-r 

 I he hardwood field; J. H. White of Kansas City. Mo., the southern pine 

 section ; A. C. Manbert. Toronto. Ontario, who last year spent several 

 months abroad investigating lumber conditions, will talk on Canadian 

 conditions. Charles Hill, of Southern Piue Sales Corporation. New Yurk. 

 and John Lloyd of Philadelphia, president of the National Retail Lumber 

 Healers' Association, will present their views from the standpoint of 

 wholesaler and retailer, respectively. The Hon. Henry R. Rathlmnc. a 

 prominent Chicago attorney and former president of the ll.iniiUdii Cluli. 

 will speak -at the banquet. 



pjrnest T. Trigg, Philadelphia, president of the National Fi-ileration of 

 ("onstruction Industries, and who is now on the Pacific Coast, will In' at 

 the convention and give an outline of the survey recently made on llie 

 construction outlook. John W. O'Leary, vice president of the Chieagn 

 Trust Company, Chicago, and R. N. Calkins, vice president of the Chiiago 

 Milwaukee & St. Paul railroad will each discuss their fi(dds of activity 

 as linked up with the lumber industry. 



These addresses will be brief and snappy and the committee in charge 

 of the program will provide plenty of time for discussion by nnMubers 

 on other subjects requiring consideration. The proposed uniform order 

 blank will be discussed and F. S. Underbill. Philadelphia, chairman of 

 the committee, has circularized members of the Association requesting 

 them to go over the form in advance of the meeting and study its merits 

 and faults. 



The question of arbitration, especially along inter-association lines 

 which was first suggested by J. B. Montgomery, chairman of the arbitra- 

 tion committee, will be considered from its various angles. The National 

 Wholesale Lumiier I)ealers' Association has long stood for the principle of 

 compulsory arbitration among its members and this will jirovide one of 

 the interesting topics for discussion at the meeting. 



