250 journal of forkstrv 



West Coast Lumber Manufacturers' Association Meeting 



The JVcst Coast Lumberman of February i, 1918, contains an ex- 

 haustive report of the meeting of this association on January 26. The 

 annual report of the retiring president. A. L. Paine, besides giving 

 general information as to the activities of the association, contains a 

 striking statement showing that the burdens of association w^ork fall 

 on a few of the more progressive men. In Paine's words : "Did it ever 

 occur to you that the most active men of this association are the ones 

 best able to stand alone?" 



Addresses before the meeting were also made by Dr. H. K. Benson, 

 of the University of Washington, who summarized the situation in 

 regard to utilization of mill refuse; H. H. Isherwood, a prominent 

 eastern retailer, urged the necessity of more lumber advertising and 

 backing up the retailer by the manufacturers. Particularly he pointed 

 out the desirability of furnishing the retailer with complete plans and 

 specifications for buildings and parts of buildings, so that the retailer 

 can quote lump-sum bids on requirements of consumers instead of 

 quoting by the thousand feet only. 



One of the most enlightening addresses was made by O. B. Harri- 

 man, of the Bridal Veil Lumber Company, who elaborated a complete 

 plan for formation of a $i,ooo,cx30 corporation termed the Lumber- 

 men's Clearing House, whose function shall be the discounting of lum- 

 ber invoices for manufacturers and wholesalers and the guaranteeing 

 and collecting of all accounts received for discount, such accounts to be 

 only those of approved credit risks. In support of this plan analytical 

 data are submitted covering 1,000 cars of lumber shipped as follows : 



Cars Discounted. — Fifty-nine per cent took 2 per cent discount in 23 

 days ; 17 per cent took 2 per cent discount in 51 days ; total per cent, 76 ; 

 average discount time, 30 days. 



Cars Not Discounted. — Ten per cent paid in 65 days ; 14 per cent 

 paid in 1 14 days ; total per cent 24 ; average time, 94 days. 



From these and other data, it is shown that three times the capital is 

 required for this purpose by the present methods as would be required 

 under the proposed method of discount by Lumbermen's Clearing 

 House within fifteen days from date of invoice. The proposed method 

 is claimed to have the following advantages : 



1. Mills would get sufficient capital to finance shipments without use 



of bank credits. 



2. Terms of payment would be enforced without loss of friendship of 



customer l)y individual mill. 



