Northwest Arkansas Times from Fayetteville, Arkansas on October 10, 1974 · Page 6
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October 10, 1974

Northwest Arkansas Times from Fayetteville, Arkansas · Page 6

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Fayetteville, Arkansas
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Thursday, October 10, 1974
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Page 6
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· Norlhwett Arkonwi TIMES, Thurs., Oct. 10, 1974 r*Y«TTlVILLI. ARKANSAS _^ Lumber Prices Fall Substantially · DALLAS (AP) -- Lumber prices are sinking like granite 'because of a slump in h o m e construction and there is no relief' in sight, according to industry officials in Texas. "The bottom has fallen out of t h e market," says Pat McCaslin, spokesman for Kirby Lumber Corp. in Houston. ' Alan Miller of Temple Industries at Diboll in the Piney Woods of East Texas says. "We're not making any money." ·" And, Charles Magee of a 'Wickcs building supply in Richardson north of Dallas says he's cut lumber prices more than 30 per cent so far this year and is "thinking about going lower than that." · A survery of several manufacturers and distributers by The Associated Press found agreement that lumber price* are at their lowest level since said. The slump "has affected our business al least 20 to 25 per cent." For a person that has some money, now is the time to build an addition to a home, while prices are down, he advised. "Things have gone completely bad." said McCaslin a'. Kirby Lumber Corp. which owns or manages more t h a n alt a million acres of forest in 1969. An example, at the distributor level, from Magee: 1, flOO board feet of lumber that sold in January for $195 now is selling for $135. " These are prices a contractor would pay for his lumber, said Magee. On a larger scale, $5,000 worth of lumber "for a house six monlh* ago now would cost about $3,500. LUMBER NOT SOLD . But contractors aren't buying the lumber, said Magee, be 'cause they aren't building anj houses. Anfl they aren't build 'ing houses, he said, becauss they can't find money to ti nance their projects. "The demand is gone, but th supply is still here," Magee last Texas. The drop in latuifacturing IcCaslin. has prices at the level, said been drastic. belter. "We're not looking for any big turnaround." Miller and. McCaslin both said about 2 million housing starts per year arc needed to meet demand, but high interest rates and tight money conditions have dropped new starts to about a million this year. McCaslin s a i d President Ford's economic plan, which would provide money for about 100,000 new homes, won't help much. "That's only about five per cent of what's needed. "I don't look for anything this time come from ionics." L u m b e r , random length oards and studs, that sold for .150 per thousand board feet a 'ear ago is selling for' around ;50 now. "We're losing money," said HcCaslin. Kirby has cut back ts sawmill operation and shifted workers to jobs in ply- v o o d production. Plywood jrices have not dropped as sharply, he said. Still, 25 workers have been laid off. Temple Industries, said Mil- ,er, "is inventoried right up to he rafters. We can sell at a loss or cut back on production and we're doing a little of both. much brighter until this t next year," McCaslin said. "The demand for housing is still there. People want homes. Builders want to build them and sell them. But I don't kn finance these Decision Expected LITTLE ROCK (AP) - The stale Pollution Control ant Ecology Commission apparent :y is expecting a decision be fore next month from the stale Public Service Commission 01 whether part or all of the pro posed White Blutf power plan can be constructed. T-he commission plans to holt a public hearing Ocl. 25 on Ar Kansas Power Light Co.'s ap plications for air and water dis charge permits for the utility' proposed coal-fired plant nea Rcdficld. The setting of the date it dicales that the commission e.\ where the money is going to peels a decision before Ocl. 25. Criminal Code Revision Offered LITTLE ROCK (AP) -- The lute Criminal Code Revision Commission turned over a pro- joseil substantive revision of ho slate's criminal liiws to the oint Judicinry Committee ol he Arkansas House of Kcyrc- sonlutivcs, Senate and Lcgisla- ivc Council Wednesday. The docirmcnt, which now must bo reviewed lij 1 these bodies. is to be introduced into the 1075 legislative session. It results from three years of work by the commission in cotv nection with the attorney general's office. Circuit Court Judge Hn'rrcll Simpson of Pocnhonlas is chair man of the commission's Sub stantive Committee. He said the proposed code would superccde several exis itig criminal laws, but that i would permit the coexistence o some current or future laws dealing with special problems. odo would provide for repeal Srmpson said proposcc if laws inconsistent It. hose rendered unncccessary by I and outdated laws. Simpson said the objectives f the proposed code included clarification and simplification of the specific mental stale required to establish that a crime was committed. Theodorokis Lauded ATHENS, Greece: (AP) -Greek composer Mikis Theo- dorakis received a standing ovation from a sellout crowd oi 50,000 in bis first public performance in Greece in eight years. Theodorakis, whose music was banned by the Greek junta in April of 19G7 because of his leftist background, featured bis own compositions in the Wednesday night concert in a soccer stadium. Sex Discrimination Charged In Athletics LITTLE HOCK ( A P ) ' -- Two emalc students filed a lawsuit Wednesday charging the North jiltle Rock School District with liscriminaling against females n the funding find staffing of .Is athletic programs. The students, Judith Wil liams, a ninth grader at Ilose City Junior High School, am Joyce Mae Williams, whose school was not identified, filci the suit in U.S. District Court Defendants are the superinten dent and the school board. The plaintiffs alleged that In district spends only a smal fraction or its athletic budge on girls' athletics. The girls asked the court tc stop the district from spentlinp money for any male sports otli er than football during the cur rent school year or until the de fondants develop an inlerschoo thletto program for fomales ompiirable with that provided or males. They also asked the court to enjoin the district from hiring ny males to fill any vacancies 11 coaching and secondary ad- ninislivilive positions. This vould be until the court has ap- roved a plan Tor seximlly In- cgrating these positions and iffording female slaff members of an opportunity for upward mobility. 51/4% S 3 A% 61/2% 6 3 /4% 7'/a% We have savings program »nd interest rate io meet your needs. Fayetteville Savings Loan Association 201 N. East Avenue About 70 of lumber division's 1,800 workers have been laid off." NATIONWIDE SLUMP Miller said the slump is nationwide. The South held on longer than the rest of the country, with the help of booming housing markets in Dallas and Houston, he said. 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