anaheim-gazette 1946-01-10

Bank of America’s Resources, Deposits, Top Five Billions Bank of America’s year-end statement reveals deposits, total resources, loans, securities investments and capital funds at new high levels. Deposits totaled $5,339,307,000 Dec. 31, an increase of $988,765,000 during the year. U.S. war loan deposits, included in this total, amounted to $439,404,000. Total resources were $5,626,063,-000, a gain of $1,016,939,000 over a year ago. LOANS, DISCOUNTS UP Loans and discounts outstanding at the year end aggregated $1,018,741,000, an increase of $124,305,000 over a year ago. Investments in securities amounted to $3,533,172,000, an increase of $793,108,000 over the previous year end. The increase was chiefly in U.S. Government obligations, which totalled $3,135,746,-000 on the last day of the year, of which approximately $1,700,-000,000 was due or callable within one year. Capital funds amounted to $229,594,000 after payment of $13,608,556 in dividends, as compared with $219,000,000 at the previous year end, after dividends of $10,408,570. Dividends were paid in 1945 at the rate of $1.60 a share on the common stock and $2 a share on the preferred stock. EARNED 45½ MILLION Earnings for the year were $45,591,000. From this total, $10,648,000 was reserved for depreciation of bank premises and other real estate and amortization of bond premiums, and $450,000 was set up in reserves and applied to revaluation of assets and absorption of losses other than loans. New Santa Ana Daily to Make Bow in March First issue of the Santa Ana Daily Globe will make its appearance late in March, according to announcement by the co-publishers of the proposed new Orange county newspaper, John W. (Sky) Dunlap and George E. Hart. Both are longtime Orange county newspapermen. Hart, who will be editor, was on the Santa Ana Register news staff 17 years, and also was editor of the Orange Daily News, editor and general manager of the Twin Falls (Ida.) Times, and staff writer for the Anaheim Bulletin, Fullerton News-Tribune, Long Beach Press-Telegram, Santa Ana Times, Santa Rosa Republican, Chico Enterprise, and Los Angeles papers. He has been city editor of the Eugene (Ore.) Register-Guard the past two years, and is a brother of the late William O. Hart, publisher of the Orange Daily News. Dunlap, who is to be general manager, was born in Santa Ana graduated from Santa Ana high school and junior college, and the University of Southern California journalism school, worked Timely Pointers On Onion Culture By Farm Expert Proper planting dates are important in the production of onion bulbs; advises H. W. Longfellow of the agricultural extension service. Transplants or sets of early varieties should be planted in the garden in late December and January. If planted too early, onions will usually produce seedstalks instead of forming bulbs; if planted in late winter, the size of the bulb may be reduced. If the crop is to be used for green onions, it can usually be grown at any time. Small transplants are generally better for planting than onion sets; as sets are prone to rot in cold wet soils and it is difficult to procure them in the best adapted varieties. Transplants should be no larger in diameter than a pencil; large ones are more likely to produce seed stalks than small ones. For the reason, only the smaller set should be planted. The larger transplants and sets can be safely used for green onions; so these should be sorted out and planted in separate rows. Plant onion three inches apart in rows about 10 inches apart preferably on raised beds. Se transplants to the depth they had previously been growing while sets should be covered with one fourth to one-half inch of soil. Onions generally respond to nitrogen fertilizer, such as ammonium sulfate or nitrate of soda. Usually two applications are preferred; one soon after planting and the other in March. Winter rains will carry in the fertilizer. EARNED 45½ MILLION Earnings for the year were $45,591,000. From this total, $10,648,000 was reserved for depreciation of bank premises and other real estate and amortization of bond premiums, and $450,000 was set up in reserves and applied to revaluation of assets and absorption of losses other than loans. A profit-sharing bonus of $1,520,000 was provided for employees. From the earnings total also was deducted $9,542,000 net, which was added to the "reserve for bad debts." This reserve, a provision for losses which may develop in the future, stood at $18,106,000 at the year's end. During the year, with publication of its statement of September 29, the bank was widely heralded for attaining first rank among the banks of the country, which L. M. Giannini, president, regarded as a tribute to the rapid development of California as a commercial and industrial empire and to the public service policy of Bank of America. For many years, the bank has had the distinction of leading banks of the nation in number of clients, whose deposit accounts, it is stated, now number in excess of 3,300,000. Cost of Living Not to Advance Geoffrey Baker, associate deputy administrator for price of the national office of OPA, predicts that there will be no rise in the cost of living in the foreseeable future. The OPA official, in Los Angeles for price discussions with the agency's district executives, said that the first part of this year may see a slight drop in food prices with apparel and other commodities remaining about the same. Also of cheer to the buying public was Baker's prediction that volume of goods—particularly in the low priced apparel field—would show an increase in the first quarter of 1946. Baker said that there were reports of some manufacturers withholding goods from the market until the end of the calendar year to take advantage of the termination of the excess profits tax and this, together with adherence to the maximum paid in 1945 at the rate of $1.60 a share on the common stock and $2 a share on the preferred stock. Ana Times, Santa Rosa Republican, Chico Enterprise, and Los Angeles papers. He has been city editor of the Eugene (Ore.) Register-Guard the past two years, and is a brother of the late William O. Hart, publisher of the Orange Daily News. Dunlap, who is to be general manager, was born in Santa Ana, graduated from Santa Ana high school and junior college, and the University of Southern California journalism school, worked seven years on the news staff of the Santa Ana Register, and has been with the United Press 11 years in Los Angeles, Hollywood, Salt Lake City, Fresno, manager at Sacramento, and Pacific Northwest division manager at Portland. The new paper will be printed at the plant of the Santa Ana Printing company. It will have the worldwide facilities of the United Press and a large staff of Orange county newspapermen. The publishers said it will be entirely home-owned and independent, and "will be dedicated to the continued growth of Orange county." Nation Produced Third Largest Crop Last Year American farmers came through with another tremendous production record for 1945, falling only slightly short of the mammoth harvests of 1942 and 1944. New production records were established in a number of crops including wheat, hops, rice, peaches, pears, almonds and grapefruit. High yields per acre were said to be the principal reason for the generally excellent results. The dark spot in the report of the U.S. department of agriculture concerns cotton which, with the exception of 1921, led the smallest crop in the last half century. But the over-all results of 1945 show that our farmers came through again in the "pinch" in spite of the pinch of labor shortages and inadequate farm machinery with which to do the job. Farmers didn't receive army or navy "E" awards for superior production, but the fact remains that they deserved them as richly as the plants that turned out planes or the yards that built ships. The first road of rails in the United States is said to have been a short inclined track user as early as 1795 to convey brick and plant onion three inches apart in rows about 10 inches apart preferably on raised beds. Seans transplants to the depth they had previously been growing while sets should be covered with one fourth to one-half inch of soil. Onions generally respond to nitrogen fertilizer, such as ammonium sulfate or nitrate of soda. Usually two applications are preferred, one soon after planting and the other in March. Winter rains will carry in the fertilizer. City CLERK'S RETURN DELAY IS TWO WEEKS City Clerk Charles E. Griffith who has been confined to his home by illness for several weeks and who was expected to return to duty last Monday, will not do so for another two weeks, on advice of his doctor, although his condition is reported much improved. Phone your news items to The Gazette Call 2206 Also of cheer to the buying public was Baker's prediction that volume of goods—particularly in the low priced apparel field—would show an increase in the first quarter of 1946. Baker said that there were reports of some manufacturers with holding goods from the market until the end of the calendar year to take advantage of the termination of the excess profits tax and this, together with adherence to the maximum average price regulations set up by OPA, should speed up the flow of low and medium priced apparel items early in 1946. The first road of rails in the United States is said to have been a short inclined track user as early as 1795 to convey brick and other clay products from kilns on Beacon Hill, Boston, to a street below. MOST ROMANTIC PICTURE This is perhaps the most romantic cowboy-train picture ever taken. It is featured in the current issue of Look magazine as a symbol of the frontier West in a series of spectacular photographs by Earl Theisen, illustrating the leading article that depicts the human side of railroading on the Southern Pacific. Review of Tax Affairs: County, State, National New Year's review of government affairs in Orange county and in the nation by California Taxpayers' association shows the following facts: A county population of 170,000 at January 1, 1946. A general county tax rate of 83 cents for the current fiscal year. A total assessed value of taxable property of $235,179,840 for 1945-46. A per capita assessed value of $1,383. For the state of California, the New Year's review shows the following: Population of 9,250,000 at January 1, 1946. Statewide assessed value of taxable property of $8,541,000,000 for 1945-46. Per capita assessed value over the state of $923 for the current year. State spending and reserve program for this fiscal year and for 1946-47 of $894,000,000—biggest in the history of California. All-time high unemployment insurance reserves — threatened by all-time high demands for benefits, while jobs go begging. Aid to the needy aged for November, 1946, of 158,815, topping the previous maximum of 158,-723 for December, 1941. A total federal, state, and local tax bill on Californians for the last fiscal year of $4,619,509,000—$518 per person. A state tax structure which, eral spending still far outdistancing collections. A 16 year federal record of spending more than is collected in taxes. Looking at the future, the taxpayers' association said: "Government spending in 1946 needs control, both for services and on every level of government. "New Year's resolutions could well be: Keep a close watch on local governments — county, city, schools, other districts. Slow down on expansion of state activities and spending. Aim to reduce federal activities and expenditures so that the federal budget can be balanced—and kept there." 21 From Anaheim Chosen for Duty On 1946 Juries Twenty-one citizens of Anaheim are members of the jury panel who will serve in the superior court of Orange county, effective last Tuesday. Eight are women and 13 men. But two more men than women is listed on the panel of 100 names, which were drawn by County Clerk B. J. Smith by order of the court. The count is 51 men and 49 women. All are property owners in various sections of the county. Names of the Anaheim jury men and women follow: Alfred Henry Plebel, 204 N. Helena street; Roy Newberry, 216 S. Thalia street; Mrs. Della B. Hopkins, 916 E. Broadway; Mrs. Willma Newland, 720 N. Helena street; Mrs. Cora E. Newklrk, route 1. box 215-D; Walter Flecken, route 4. box 112-A; Campbell H. Druez, route 1. box 342; Royal C. Marten, route 2. box 3536; Miss Helen EXTRA SAVINGS LARGE SIZES There’s extra economy in purchasing large sizes at Safeway. Check these prices and see how you save more when you get more at Safeway. HARVEST BLOSSOM FLOUR Family flour, for all home baking. 100-lb. $355 Sack 50-lb. sack, $1.85 All-time high unemployment insurance reserves — threatened by all-time high demands for benefits, while jobs go begging. Aid to the needy aged for November, 1946, of 158,815, topping the previous maximum of 158,-723 for December, 1941. A total federal, state, and local tax bill on Californians for the last fiscal year of $4,619,509,000—$518 per person. A state tax structure which, based on war-boomed conditions, brought in $598,000,000 for 1944-45, the last completed fiscal year. A special legislative session opening January 7 with many serious problems to consider. On the federal level, the New Year carries the following: A national debt estimated by the treasury department to reach $273,000,000,000 by the end of June, 1946. Federal taxes over the nation as a whole down $5 or $6 billion from their wartime peak, but fed- in 1946 SAFEWAY Soda Crackers Busy Baker Brand. 2-lb. box, 30c. Sno-White Salt Plain or iodized pkg. Canterbury Tea ¼-lb. package, 43c. Cleanser Sunbright Brand 13-oz. can Peaches Castle Crest Brand. Halves. 29-oz. can Highway Corn Vacuum packed 12-oz. can SAFEWAY GUARANTEED P BELL PEPPERS Large, fresh picked. Try baked stuffed bell peppers. FLOUR Family flour, for all home baking. 100-lb. $355 Sack 50-lb. sack, $1.85 KITCHEN CRAFT FLOUR Enriched home-type blend. 25-lb. sack, 1.32. GLOBE "A-1" FLOUR Enriched blend of flour. For "A-1" baking results. DRIFTED SNOW FLOUR For bread, cake and pastry. Home-tested. GOLD MEDAL FLOUR Vitamin enriched flour. Note low price. PILLSBURY FLOUR Excellent, all-purpose home-baking flour. BAKING POWDER Columet Brand. Check this value at Safeway. SCHILLING'S VANILLA Save more! Buy the economical 4-oz. size. AIRWAY COFFEE Mellow-mild blend. Ground to order. NOB HILL COFFEE Rich blend of fine grade coffees. Choice of grind. CANTERBURY TEA Pekoe and Orange Pekoe. Delicate fragrance. WHITE MAGIC BLEACH A real household favorite. Makes clothes whiter. PUREX Controlled action bleach. Gentle to linens. NOTE THESE VALUES AT... SAFEWAY Broadway; George W. Dean, 217 Sycamore street; George Puls. Reh street; Sterling W. Phil-419 E. Sycamore street. Everybody reads The Gazette Early in the 19th century, an American naval officer brought some specimens of the abaca plant, the sources of hemp, to the United States. Great flocks of usually sedentary birds in the Pacific sometimes make "colonization flights" to islands as far as 2,000 miles away. L. P. NICHOLS SUBDIVISION We Are Ready to Take Reservations on Lots in HIGHLAND GARDENS Between West and Citron on Sycamore street, Anaheim, There Are Only 38 Lots and the Reservations, Improvements, Building Restrictions Insure A High-Class Subdivision. Come and See Me at 109 North West Street Between West and Citron on Sycamore street, Anaheim, There Are Only 38 Lots and the Reservations, Improvements, Building Restrictions Insure A High-Class Subdivision. Come and See Me at 109 North West Street ALEX F. WALKER, Exclusive Agent Dr Call 2303, Anaheim Or 1305-M, Fullerton GET MORE...SAVE MORE AT SAFEWAY Because we carefully select quality meats, and properly age them, we can guarantee them tender and juicy every time...or your money back. And because they are trimmed waste-free and sold at Safeway's regular low prices, we are sure you'll agree, that in meats, as in all foods, you get more and save more at Safeway. CORNED BEEF BONELESS BRISKET lb. 39¢ A delicious dish that the whole family will enjoy. GROUND BEEF PACKED IN VISKING lb. 27¢ Tender, juicy, quality beef. Fine for meat loaf. BEEF ROAST SEVEN BONE OR ROUND BONE lb. 28¢ Serve one of these mouth-watering chuck roasts today. BEEF PLATE MEAT lb. 15¢ Excellent boiling beef. Note low price. SAFEWAY VALUES Tomato Soup Heinz Brand 11-oz. con 11¢ Tomatoes Gardenside Brand 26-oz. éch 14¢ Baby Food Libby Brand 7-oz. con 7¢ Strained vegetables. BEEF PLATE MEAT Excellent boiling beef. Note low price. GRANTED PRODUCE S Stuffed bell peppers. lb. 25¢ IPS FRESH FARM Lb. 7¢ SNIPS Ing. Guaranteed. lb. 12¢ FUERTE TYPE Sandwiches, too. lb. 39¢ HOUSEHOLD NEEDS 23¢ Borax 20 Mule Team Brand 2-lb. pkg. 23¢ 5-lb. package, 54c. 32¢ Toilet Soap 2 bens 13¢ Sierra Pine Brand. 27¢ Aluminum Cleaner 12-oz. tube 19¢ Dexta Brand. 47£ Drano Drain Pipe Opener 12-oz. cen 18¢ Water Softener Keriu Brand 2-lb. pkg. 27£ 31£ No Rub Wax Old English Brand pint 39¢ Quart size, 69c. SANITARY NAPKINS 26£ Kotex Regular size 2 boxes of 12¢ Modess Sanitary Napkins Box of 54¢ 89¢ SAFEWAY VALUES Tomato Soup Heinz Brand 11-oz. con 11¢ Tomatoes Gardenside Brand 28-oz. cdh 14¢ Baby Food Libby Brand 7-oz. con 7¢ Strained vegetables. Plum Jam Starr Brand 1-lb. jar 24¢ Noodles Gold Medal Brand Medium or wide. 16-oz. pkg. 24¢ Noodles Globe A-1 Brand. Medium width. 8-oz. pkg. 13¢ Dried Peaches Del Monte Brand 11-oz. pkg. 27£ White Rice Watermaid Brand 1-lb. pkg. 11¢ FLOUR AND CEREALS Enriched Flour 5-lb. sack 29£ Kitchen Craft. 10-lb. sack, 55c. Flour Harvest Blossom Brand 10-lb. bag 42£ Economical 25-lb. bag, 97c. Flour Drifted Snow Brand 5-lb. bag 29£ 10-lb. bag, 55c. Buckwheat Flour 20-oz. pkg., 32c. Waffle Mix Duff's Brand 14-oz. pkg. 22£ Potato Meal Rogers' Idaho Brand 1-lb. pkg. 12£ Baking Powder Rumford Brand, 12-oz. cen 21£ Ruskets Breakfast Cereal 14-oz. pkg. 13£ Cheerios Breakfast Cereal 7-oz. pkg. 12£ Quick Oats Morning Glory Brand 20-oz. pkg., Also regular oats. Roman Meal 30-oz. pkg., 26£ These prices effective through Saturday, January 12, 1946. No sales to dealers. Right to limit reserved.