anaheim-gazette 1946-03-07

ANAHEIM GAZETTE Member Weekly Newspaper Ass'n of Orange County HENRY KUCHEL, Editor and Publisher 1887-1935 Mrs. Henry Kuchel — Theodore B. Kuchel Editors and Publishers The Anaheim Gazette has been owned and edited by the same family since 1875. Published every Thursday at 259 East Center Street, Anaheim, California. Phone 2206-2207. Entered as second-class matter at the Post Office at Anaheim, California, under the Act of March 8, 1897. Subscription Per Year, $2.00; 2 Years, $3.50; 6 Months, $1.25 EARM INCOME American farmers piled a new record income for 1945 on top of the previous record income for 1944. Last year, total income was $21,463,000,000, as compared to $21,038,000,000 for the year before. Final figures for California farmers, who are already the nation's leading money earners, are not yet complete, but indications are that they will top the 1% billion dollars received in 1944. Particularly significant is not only what the farmers are earning, but how they are using their earnings. Farm debt in California continues to show a steady decline. On Jan. 1, 1940, the California farm debt was $407,585,-000, and on the same date in 1945 it had dropped to $337,238,-000. This was a decrease of 17.3 per cent. Farmers throughout the state have bought heavily of war bonds bomb. But what was surprising, and shocking, was the defense of the Soviet spy system offered by Joseph E. Davies, our former ambassador to Moscow. Mr. Davies takes the stand that since we have not handed over full details about the bomb to Stalin, the Russians have a perfect right to try to take them. He ignores the fact that Moscow has already accepted the atom bomb control plan, which will place the bomb information under the control of the UNO when that organization can effectively handle it. If the Soviets had shared their war secrets with us 'while we held out on them there might be some justification of their efforts to grab the blue prints on the atom bomb. But the reverse has been the case. Russia divulged virtually nothing while we shared many of our war secrets with her. Neither Mr. Davies nor Mr. IN THE DAWN MARCH 18, 1871 Since the first organizaion this county Los Angeles a county officials seem to have quired the same remarkableer of absorption as the so Oliver Twist they are coily asking for more. Every lar of taxes that has squeezed from the people he appeared in that insatiable sand, and in addition, a land has been created, for which is not a dollar of county price to show. No courthouse worth a name, no bridge even a county road—all hished in its voracious and craving maw. Fearful tha increase of population sceptre will pass from the want no increase except will strengthen themselves wisely dread the superiorities of the country surreath towns of Comptonville latin, El Monte, Anaheim Ana and others yet in embarking in that most fertile which, with a length of 6 and a breadth of 10 to 20 extends from the sea coast of Point Pedro to the San Juan Capistrano, in the eastern corner of this county belt comprises the great desirable agricultural lands county. There are, it is true fertile valleys lying Therefore I say to those for a home, give no credit those who praise Los Angeles speak disparagingly of all parts of the county. Look Particularly significant is not only what the farmers are earning, but how they are using their earnings. Farm debt in California continues to show a steady decline. On Jan. 1, 1940, the California farm debt was $407,585,000, and on the same date in 1945 it had dropped to $837,238,000. This was a decrease of 17.3 per cent. Farmers throughout the state have bought heavily of war bonds and their savings deposits have shown a very marked increase. Even during prosperous times, however, ample bank credit is essential to full farm production. Last year, the average crop loan was around $5000. Of all divisions of farming, livestock accounted for the greatest income nationally, with a total of $6,295,000,000. Dairy products were next, with $3,080,000,000. American farmers in general, and California farmers in particular, can really produce. AUTOS LAST LONGER Statistical show that the average car of today lives through more than 80,000 miles of travel, while the vehicles of two decades ago usually "retired" after less than 22,000 miles of service. Taking into consideration the greater mileage and lower cost of cars today, the modern vehicle is five times as efficient as those of 1925. Improvement in quality and performance has also been evidenced, of course, in buses and trucks. This improvement has largely accounted for the rapid growth of America's commercial automotive transport system, which now handles millions of passengers and millions of tons of freight daily. Of all intrastate freight transported in California, two-thirds of it moves by commercial highway carriers. The automotive efficiency which has been achieved in America is really remarkable, even for a country that has done so many remarkable things. ATOMIC BOMB PLOT Russia's conduct in these days is such that virtually nothing proves surprising any more—not even the plot to obtain secret information about the atomic bomb information under the control of the UNO when that organization can effectively handle it. If the Soviets had shared their war secrets with us 'while we held out on them there might be some justification of their efforts to grab the blue prints on the atom bomb. But the reverse has been the case. Russia divulged virtually nothing while we shared many of our war secrets with her. Neither Mr. Davies nor Mr. Stalin are winning friends or favorably influencing people by recent conduct and utterances. SEEDS FOR EUROPE AND ASIA Seeds from American farms are being rushed to nine European countries and China through the United Nations relief and rehabilitation administration. Over 50,000 tons of seed are being shipped between Jan. 15 and March 10 to get to the farms by spring planting time. With this seed, farmers abroad will be able to grow more of their food this year, and UNRRA will not be called upon for so much direct relief to the hungry peoples of the world. Shipments will include wheat, barley, oats, rye seed and seed corn—forage crops, grasses and root crops for animal feed—vegetable seed and seed potatoes—some industrial seeds, and beets for sugar. A check among 4000 students in 41 colleges shows that they prefer the prewar type of college instruction instead of the accelerated system introduced as a result of the war. The survey was made by the American College Publicity association. The University of Southern California has placed orders with the Reconstruction Finance Corporation's group controlling the educational sale of surplus aircraft to schools for five war planes. The planes ordered are a B-17, B-25, P-38, P-47, and P-63. Five breeds of dogs have been found best for Army purposes, and only these, or positive crosses of these breeds, are now accepted Ice cream and a bath are the German Shepherd, Belgian Sheep, Doberman Pincher, Collie and Schnauzer. ATOMIC BOMB PLOT Russia's conduct in these days is such that virtually nothing proves surprising any more—not even the plot to obtain secret information about the atomic Five breeds of dogs have been found best for Army purposes, and only these, or positive crosses of these breeds, are now accepted Ice cream and a bath are the German Shepherd, Belgian Sheep, Doberman Pincher, Collie and Schnauzer. "HERE'S AN OIL THAT DOES 5 JOBS AT ONCE!" You can bet it's not by accident that RPM Motor Oil keeps your motor cleaner, gives it longer life. This oil's especially compounded to end carbon trouble, prevent corrosion, stick to hot spots that ordinary oils leave bare and exposed to wear, to fight oxidation, and to eliminate air-bubbles that would impair circulation. Best of all, RPM Motor Oil doesn't cost a cent more! A. H. ROHRS Anaheim, California Phone Zenith 2518 A STANDARD OF CALIFORNIA PRODUCT Uneasiness over the proof of an unusually dry season place to joy after the copiocipitation during the storm, began Friday night and Monday morning. It was a steady downpour during rest, the heaviest of it on Sunday night, nearly an inthree-quarters following a o'clock Sunday night, acto H. A. Dickel's measuMr. Dickel reports 3.45 incr the storm, which was almoas much as had fallen durientire season previous to The storm brings the entire fall for the season up to inches. Fourteen inches normal fall, and some of the men declare that before thason ends we will reach thaure. The Santa Ana river week exercising the function a river. It has water in it-water—in fact, a raging is rushing down its channel at the county hospital it s over its banks and inundatboulevard for some diHowever, traffic was not d as the water was not deep o to halt the vehicles. A St. Patrick's day entment will be given by the K. of Columbus at their hanight. Some of the city's talented musicians and singecluding Mrs. Ray Fisher, Geraldine Dolan, Miss M. Carter, Miss Elizabeth Doand F. W. Schmidt will take in the program. Russia's population is tw large as the combined popuof Britain and France, an birthplace is more than tw high. IN THE DAYS OF LONG AGO 75 Years Ago MARCH 18, 1871 Since the first organization of this county Los Angeles and the county officials seem to have acquired the same remarkable power of absorption as the soil. Like liver Twist they are constant in asking for more. Every dollar of taxes that has been squeezed from the people has disappeared in that insatiable quick-land, and in addition, a large debt has been created, for which there is not a dollar of county property to show. No courthouse, no jail north a name, no bridges, not even a county road—all has vanished in its voracious and ever-giving maw. Fearful that with the increase of population the receptre will pass from them they want no increase except such as will strengthen themselves. They wisely dread the superior attractions of the country surrounding the towns of Comptonville, Galantin, El Monte, Anaheim, Santa Ana and others yet in embryo, lying in that most fertile plain which, with a length of 60 miles and a breadth of 10 to 20 miles, extends from the sea coast north Point Pedro to the town of San Juan Capistrano, in the south-eastern corner of this county. Thiselt comprises the great body of desirable agricultural lands of the county. There are, it is true, several fertile valleys lying inland. therefore I say to those looking for a home, give no credence to those who praise Los Angeles and seek disparagingly of all other parts of the county. Look at the land themselves and take no man's word for it. If they see Los Angeles first, so much the better—our land will be improved by comparison. St. Patrick's day and the usual ceremonies in honor of the extermination of the snakes and frogs of Ireland, for some cause unknown to us was not celebrated in Anaheim yesterday except in isolated cases on private account. Mr. John P. Zeyn, Mr. Henry Kroeger and Mr. Henry Bremerman, vineyardists, went to San Francisco on the last steamer. Mr. Guinn, who returned to Anaheim from the residence of Mr. W. M. McFadden at 8 o'clock last night, reports there was a cloudburst north of the city. He says the whole country thereabouts is overflowed and a stream of water one hundred and sixty feet wide and forty feet deep is washing down the canyon north of the city. It appears that the heavy clouds seen yesterday to the east and which were full of thunder, burst in the Soquel mountains near the head of the canyon and inundated a large area of the country. The monthly school report shows an enrollment of 96 in the two schools, with a daily attendance of 83. About 20 people who came down on the last steamer, have settled in and around Anaheim. New Home Loan Terms for GI's Continued from Page 1 once. The sole exception is one additional document in the case of a loan on delinquent indebtedness. Principal changes in the act as amended include increase of guarantee on real estate loans from $2000 to $4000; extension of time in which veterans may take advantage of guarantee or insurance from two to 10 years; extension of time limit on terms of payment to 25 years on real estate and 40 years on farm reality. Provision is made for insurance of a loan in lieu of guarantee of up to 15 per cent of aggregate of a loan made or purchased by a lender. This allows a choice to both the veteran and lender, and consequently broadens the scope of credit assistance to veterans. Loans made for construction may now include the cost of the lot on which the veteran intends to build. Certain delinquent indebtedness may be refinanced. Farm loan provisions allow for improvement of ground or building, construction of new building, and use of funds to purchase livestock and seed or for working capital. Business loan provisions now allow purchase of inventory and use of funds for working capital. OTHERS INCLUDED Benefits have been extended to persons on terminal leave or hospitalized pending final discharge, and persons in the military or naval service of a government allied with United States who were United States citizens at the time of entering such service. Cooperating in conference with our representatives of the major lending organizations of the nation and principal service organi- week at Salt Lake City is now arranging meetings Los Angeles area with officials and other groups to explain their methods. Youth Symphony Concert Please Continued from Pathe members fired a bolt from a pistol to force press the listeners wv played the comic number Goes the Weasel" by C agine the surprise of artist, when he was t pistol for the second nothing happened, how entire group carried outance of the number wifiure and placidity. Another number by "sky," "Marche Slav," v tingly brought the event gram to a climatic comMiss Norma L. Perkian organized of the Youth and director of the graduate of Whittier where she is a member also assistant director Whittier Symphony Another musical organ which she is a member sistant director is the les Philharmonic 'orchin gining her work with group in 1942, Miss P accomplished a greate these young people, givethe experience of conciation and a musical along these lines that valuable to them in l valuable to them in late 50 Years Ago MARCH 19, 1896 Frank Porter was in from hisench on Orangethorpe avenue one day last week for the first time in quite a while, and made his office a pleasant call. Frank takes a good deal of interest in the struggle of the patriotic Cusans for independence and thinks that by following their example the natives of the earth at present dependent upon the powers of Europe for existence will in the next few years cut loose and not themselves up as free and independent nations. A renewal of the discussion as to the propriety of purchasing ground for a city park has directed attention to the tract lying west of the Santa Fe depot and running from Center street to broadway which, it is said, can be required at a very reasonable price. That a city park and a pavilion for holding celebrations, surrounded by winding walks, dwells, and beds of beautiful flowers, would add to the attractiveness of our city, and we hope to hear that the project will meet with the endorsement of men of means throughout the community. One purpose is to solicit subscriptions to the extent of about $3000, purchase the property and deed it in the city. The matter has the earliest support of several representative citizens who will enjoy to push it to a successful consummation. The foundations for the brick block building at the corner of Center and Hermine street by Stephen Kistler are being put in and work on the cellar is well advanced. The building will be a substantial one-story structure, 24x75 feet, and will be occupied by the Boston bakery. Mr. Kistler will also erect a frame residence in the rear of the building. It took a jury in Judge Pierce's court on Tuesday afternoon just two minutes to find Prof. Frantz not guilty of the charge of cruelty to animals, in the alleged beating of a pair of ostriches which he has had for sometime past in training to drive in single harness and tandem. The professor is training the birds to drive, and on attaining his purpose may take them on a traveling tour, and may enter them in the floral pageant at the Fiesta. He informs us he is making progress and promises to give us a ride in his tandem rig shortly. Fred Lewis has given up the job of driving our street car and has gone to Los Angeles to take a course in a business college. August Menzel takes his place as driver of the street car. Our good friend, Peter Weisel, writes us from Milheim on the Rhine not to forward the Gazette to him any more as he leaves on the 15th for California. We shall be glad to have him in our midst again. 25 Years Ago MARCH 19, 1921 Uneasiness over the prospects of an unusually dry season gave pace to joy after the copious precipitation during the storm which began Friday night and ended Monday morning. It was a gentle, steady downpour during most of the time with short periods of dust, the heaviest of it coming Sunday night, nearly an inch and taints near the head of the canyon and inundated a large area of the country. The monthly school report shows an enrollment of 96 in the two schools, with a daily attendance of 83. About 20 people who came down on the last steamer, have settled in and around Anaheim. OTHERS INCLUDED Benefits have been extended to persons on terminal leave or hospitalized pending final discharge, and persons in the military or naval service of a government allied with United States who were United States citizens at the time of entering such service. Cooperating in conference with our representatives of the major lending organizations of the nation and principal service organizations, the regulations and forms were drafted under the direction of Francis X. Pavesich, Veterans' Administration loan guarantee service director. Ayers J. DuBois, Los Angeles regional office loan guarantee officer, attended an orientation session on the new procedures last. THE PACIFIC TELEPHONE Southern California Telephone $400,000,000 Five Excerpts from "ALTHOUGH it experienced an exceptional growth throughout the war years, our company did not profit from the war. The tabulation comparing the year 1945—the end of the route to Tokyo Bay—with 1939—the year in which ominous war clouds cast their impending gloom—vividly portrays, not only what our company's expansion has been throughout the years of its war effort, but also the impact of this expansion on its major operations. "The phenomenal development of the Pacific Coast with its tremendous strides in commerce, including her work within group in 1942, Miss Paceshac accomplished a great deal these young people, gave the experience of concentration and a musical along these lines that was valuable to them in later years." FROM PEACE TO TELEPHONES OWNED AND OPERATED Toll and Long Distance: Total Calls Longer haul calls (originating in and destined beyond our territory) Plant Investment Operating Revenues Local Service Revenues Toll Service Revenues Operating Expenses (before taxes) Operating Taxes Total Payroll Employees Men Women Income Available for Interest 25 Years Ago MARCH 19, 1921 Uneasiness over the prospects of an unusually dry season gave place to joy after the copious precipitation during the storm which began Friday night and ended Monday morning. It was a gentle, steady downpour during most of the time with short periods of rest, the heaviest of it coming Sunday night, nearly an inch and three-quarters following after 6 clock Sunday night, according to H. A. Dickel's measurement. Mr. Dickel reports 3.45 inches for the storm, which was almost half as much as had fallen during the entire season previous to Friday. The storm brings the entire rainfall for the season up to 10.80 inches. Fourteen inches is the annual fall, and some of the wise men declare that before the season ends we will reach that figure. The Santa Ana river is this week exercising the functions of river. It has water in it—much water—in fact, a raging torrent crushing down its channel and the county hospital it stopped over its banks and inundated the cullevard for some distance. However, traffic was not delayed; the water was not deep enough to halt the vehicles. A St. Patrick's day entertainment will be given by the Knights of Columbus at their hall tonight. Some of the city's most esteemed musicians and singers, including Mrs. Ray Fisher, Miss Araldine Dolan, Miss Mildred Carter, Miss Elizabeth Donnelly, and F. W. Schmidt will take part in the program. Russia's population is twice as large as the combined populations of Britain and France, and her sixthplace is more than twice as high. William Nemetz who came home some days ago on a visit to his father, was taken violently ill Sunday morning. He was removed to the sanitarium where an operation for appendicitis was performed. A. Pierotti motored down from his Placentia ranch Tuesday and was transacting business in town. Mr. Pierotti was rejoicing over the bounteous rainfall Saturday and Sunday and declares it was worth a million dollars to his section. Mr. and Mrs. Edward Ward were in town this week from Fullerton. Mr. Ward is employed by an oil company at Yorba Linda. He was a member of the Canadian overseas forces during the World War and saw much active service. He was wounded at Amiens. On his return to California he met Miss Margery Obear, a beautiful Los Angeles school teacher, and was last year wedded to her. The happy couple are living at Fullerton and make frequent visits to this city where they have many warm friends. They were the guests of Mr. and Mrs. Henry Kuchel. Wilson and Bever who recently purchased the Kroeger building, have begun the work of cutting it back to the new line and putting in a modern front. The building will be entirely remodeled. Preparations are making to build an addition to the Methodist White Temple. A Sunday school room will be built at a cost of $10,000 to accommodate the 600 Sunday school pupils. Limestone is the most widely used of all rocks because of the great variety and importance of its industrial uses, and because of its widespread occurrence. The phenomenal development of the Pacific Coast with its tremendous strides in commerce, industry, military and naval activities has placed, and will continue to place, exacting demands upon our company. With the nationwide interest in this far-flung section with its rapidly expanding markets and its outstanding growth potentialities, our company will experience in the immediate years ahead, as they are now visualized, an unprecedented expansion. "Our immediate task ahead is to render service to all who want it and to restore and to take our service to new heights. As it announced December last, in the immediate five-year period our company will be required to make expenditures for new construction aggregating $400,000,000 and, as a consequence, extraordinary amounts of new capital will be required. The execution and speed of this entire program are dependent upon the flow of available manpower, materials, money and the level of business conditions. The consummation of the program for 1946, now well under way, will require it is estimated, an all-time high expenditure of upwards of $90,000;000 for new construction. This compares with the $35,800,000 expended in 1945. Inclusive of materials re-used, the gross plant additions for 1946 are estimated at well over $100,000,000. This expenditure will be more than double the 1945 gross plant additions of $48,791,000." To do all the things we have in mind week at Salt Lake City. Du Bois is now arranging meetings in the Los Angeles area with banking officials and other interested groups to explain the revised methods. Youth Symphony Concert Pleases Continued from Page 1 the members fired a blank shell from a pistol to forcefully impress the listeners while they played the comic number, "Pop! Goes the Weasel" by Gaillet. Imagine the surprise of the young artist, when he was to fire the pistol for the second time and nothing happened, however, the entire group carried out the balance of the number with composure and placidity. Another number by Tschaikowsky, "Marche Slav," very befittingly brought the evening program to a climatic conclusion. Miss Norma L. Perkins, the organized of the Youth Symphony and director of the group, is a graduate of Whittier college, where she is a member of and also assistant director of the Whittier Symphony orchestra. Another musical organization in which she is a member and assistant director is the Los Angeles Philharmonic 'orchestra. Beginning her work with the youth group in 1942, Miss Perkins has accomplished a great deal for these young people, giving them the experience of concert presentation and a musical education along these lines that will be invaluable to them in later life. valuable to them in later life. The orchestra is being sponsored for the second year by Anaheim Kiwanis club. The Orange County Youth Symphony orchestra rehearses every Monday night at the Teen Canteen in this city with the junior orchestra rehearsing on Saturday mornings at the same location. The latter group serves as a feeder orchestra to the more adult group. The Tuesday evening concert was a benefit performance for a Fullerton summer playground project and for the furnishing of a musical library for a Fullerton group to be organized during this summer. The director for this group has not been named to date. State's Receipts, Expenses Are Up (Continued on Page 2) fits paid by the state are not included in the cost of government; nor are unemployment insurance taxes included in the state revenue figures, since these are treated as trust transactions under the accounting and reporting practices heretofore employed with respect to the various state funds. During the fiscal year ended June 30, 1945, unemployment insurance taxes deposited in the state treasury totaled $164,162,201. Withdrawals from the state treasury for benefit payments during the same year totaled $14,-240,167. The balance remaining in the unemployment insurance trust fund in the United States treasury on June 30, 1945, totaled $693,587,798. County Building Program Readied Continued from Page 1 the juvenile home enlargement, $300,000. Addition of the wing at the hospital is, Warner admitted, a move to remove conditions which led to scorching criticism of the institution by the present county grand jury, and to resignation of Dr. Harry Zaiser as superintendent. Conditions at the county jail were scored in mid-January by an investigating committee named by the state assembly. Conditions were found in such deplorable state there, a number of the committee said, that state health officials were being asked to make an investigation. Air in the juvenile "tank," where youthful offenders were held, was found to be so foul that inmates had pried a steel door to admit ventilation, he said. LIBRARY OUTGROWN The new library building planned for location in the county seat would replace present facilities in the courthouse annex, which it is pretty well agreed, have been outgrown. Other projected county construction outlined by Chairman Warner to the Gazette included, in addition to the projects listed above: flood/control, $5,000,000; storm drains, $3,500,000; courthouse annex, $1,000,000, and six rural fire stations, $90,000. Flood control includes work in the Carbon canyon and Coyote creek districts of the Anaheim area. FOR YOUR ELECTRIC WORK— Anywhere—Anything Electrical—24-Hour Emergency Service STATE LICENSED JOSEPH A. LIEB EVERYTHING ELECTRICAL 111 East Chartres St. Anaheim Pacific Telephone and Telegraph Company and Subsidiaries in California Telephone Co. — Bell Telephone Co. of Nevada 50,000 Five-Year Expansion Program Repts from the 1945 Annual Report FROM PEACE TO WAR AND FROM WAR TO PEACE Telephones Owned and Operated† . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1939 1,948,062 1945 2,702,686 Increase 754,624 Per Cent Increase 39 Toll and Long Distance: Total Calls . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129,190,340 346,892,535 217,702,195 169 Longer haul calls (originating in and destined beyond our territory) . . . . . . . . . . . . . . 650,570 11,766,999 11,116,429 1709 Plant Investment†. $493,360,850 $678,550,991 $185,190,141 38 Operating Revenues $122,168,305 $248,870,088 $126,701,783 104 Local Service Revenues ..... 85,703,890 131,179,676 45,475,786 53 Toll Service Revenues ..... 33,156,914 109,735,931 76,579,017 231 Operating Expenses (before taxes) ..... $82,163,244 $167,291,874 $85,128,630 104 Operating Taxes ..... $17,579,987 $53,364,072 $35,784,085 204 Total Payroll‡ ..... $56,023,205 $124,689,994 $68,666,789 123 Employees†. ..... 29,998 51,282 21,284 71 Men ..... 12,091 15,745 3,654 30 Women ..... 17,907 35,537 17,630 98 Income Available for Interest and policy—to furnish the best possible service; to render the service as economically as possible; to charge for the service only an amount to keep our company financially vigorous — it is of vital importance that its earnings be such that they will continue to attract the necessary amounts of new capital needed to accomplish these objectives. Earnings that are adequate are in the public interest because earnings that are less than adequate necessarily jeopardize the efficiency and the scope of the service. Thus, our company and the public it serves have a common interest. In full recognition Plant Investment† $493,360,850 $678,550,991 $185,190,141 38 Operating Revenues $122,168,305 $248,870,088 $126,701,783 104 Local Service Revenues 85,703,890 131,179,676 45,475,786 53 Toll Service Revenues 33,156,914 109,735,931 76,579,017 231 Operating Expenses (before taxes) $82,163,244 $167,291,874 $85,128,630 104 Operating Taxes $17,579,987 $53,364,072 $35,784,085 204 Total Payroll‡ $56,023,205 $124,689,994 $68,666,789 123 Employees† 29,998 51,282 21,284 71 Men 12,091 15,745 3,654 30 Women 17,907 35,537 17,630 98 Income Available for Interest and Return $22,560,834 $24,215,173 $1,654,339 7 Average Invested Capital $355,293,069 $412,344,160 $57,051,091 16 Return on Invested Capital 6.33% 5.87% .46%* 7* Per Common Share: Earnings $7.87 $6.78 $1.09* 14* Dividends $7.25 $6.50 $.75* 10* Taxes $9.74 $21.68 $11.94 123 At December 31. Includes construction payroll. *Decrease. "A successful nation is a prosperous nation. In order to increase and to sustain the production which is vital to that prosperity, business and industry must of necessity, prosper as must their personnel who through the dedication of individual effort contribute to the forward march of America. This fundamental concept, the recognition of the dignity and worth of the individual and the value of free enterprise with equal opportunity for all—the American way of life—has produced the highest standard of living among all peoples. Progress has been the measure of the welfare of our great Nation—it will be the earnest endeavor of our company, as it has been in the past, to render a communication service which through its scope, efficiency and dependability will continue to make its full contribution to that progress." President