anaheim-gazette 1949-01-06

Bank of America '48 Resources Total $6 Billion Total resources of the Bank of America as of December 31, 1948, stood at $6,072,913,000, an increase of $227,096,000 over a year ago, according to the bank's year end statement of condition. L. M. Giannini, president, confirmed that this was the first time in any non-war year that a bank had achieved the $6 billion total. "Naturally we are gratified by this new accomplishment for California," he remarked, "but we do not overemphasize it as there is very little practical difference between the abilities of the $6 billion bank to serve and those of the bank in the $5 billion bracket. The significance of this additional progress lies in its evidence of the economic growth of the territory in which we operate and the effectiveness of the policies upon which Bank of America was founded." The statement also showed all-time highs in deposits, loans and earnings. Deposits at December 31, 1948, totalled $5,639,523,000, which is $172,324,000 more than at the 1947 year end. Loans and discounts outstanding December 31 aggregated $2,807,-070,000, a total which exceeds that of a year ago by $314,091,000. Indicating the rapid turnover of funds, President Giannini stated that during the 12 months ended November 30 there were more 1,400,000 loan transactions for an aggregate of over $4,000,000,000. This conforms with Bank of America policy to meet the demand for sound loans which do not aggravate the inflationary trend. P.-T.A. Begins District Survey With its purpose to determine the number of elementary school children in each Anaheim home and the number of children of pre-school age in each home, a door-to-door survey of the Anaheim elementary school district was launched this week under direction of the Anaheim Elementary P.-T.A. at the request of the school board. In charge of the canvas is Mrs. R. C. Hein, president of the elementary Parent-Teacher Association. H. R. Fox, president of the school board, stated that findings gathered by the survey will be used to determine future school building programs. The greatest needs for classrooms will be ascertained by denseness of population in different areas of Anaheim. A request to local citizens to cooperate in this survey was asked by the P.-T.A. and the elementary school board. Grunt and Groan Boys Return to Action Tonight The 'grunt and groan' boys are slated to come back in full force tonight at the Orange County Athletic club with a triple main event including a tag battle matching four grapplers in the ring at once and two other top-flight matches. In the circus thriller, Terry McGinnis, the Columbus crusher and Jesse James, the Golden Greek from Texas are teamed against a pair of local "pet hates," Turbulent Ted Christy and Lee Bad Boy Grable. Postpone Aerial Surveys of Burnt County Areas For maximum visability, five civilian Stinson Voyager planes will be used for the survey. These planes are a civilian conversion of the Army L-5 liaison-plane, a slow safe craft used for artillery fire observation. Four passengers will be taken in each plane on each trip. The crafts are being provided by aviation schools of the county working in cooperation with the state department of education in its flight indoctrination program, remarked Cunliffe. Pilots for "Operations Conservation" include five of the following: Bill Barris and Dick Riedel, Fullerton Airport, who recently attempted to break the world's endurance record; either Pilot Bainbridge or Owens of Cypress airport; Robert Geier or Pilot Prior of Santa Ana and Stoffel of Capristano. Former Loara Principal Dies Last rites for Richard N. Bird, former instructor at Loara school who died at his home in Los Angeles Sunday morning, were conducted Wednesday afternoon at 1 o'clock from the Clark, Ellis Mortuary chapel, 939 Washington, Los Angeles. Bird was principal of Loara school for 15 years, and was affiliated with schools for a total of 30 years as an instructor. Born in the Mud Creek school district near Ottawa, Kansas, in 1868, he came to California in 1888 and moved to Anaheim the same year. He graduated from the Los Angeles State Normal school in 1894 and married Carrie A. Kellogg, youngest of nine children of B.F.E. and Mary Orilla Kellogg, in 1895. Both her parents are buried here. He taught at Loara from 1897 to 1900, then resumed his post Loans and discounts outstanding December 31 aggregated $2,807,-070,000, a total which exceeds that of a year ago by $314,091,000. Indicating the rapid turnover of funds, President Giannini stated that during the 12 months ended November 30 there were more 1,400,000 loan transactions for an aggregate of over $4,000,000,000. This conforms with Bank of America policy to meet the demand for sound loans which do not aggravate the inflationary trend but maintain a high level of employment, production of goods and construction of homes, business and other projects. Investments in securities stood at $1,945,231,000 at the year end, as compared with $2,170,721,000 a year ago. The decline was accounted for by the increase in reserves and in loans. At the year end approximately 80 per cent of the investment in securities was due or callable within five years. The bank's net profit for the year was $47,052,000, or $5.51 per share on the 8,531,710 shares of capital stock outstanding, after adding $4,771,000 from current earnings to the reserve for possible loan losses. An additional amount of $3,229,000 was transferred to this reserve from previous period earnings. Dividends were paid at the rate of $2.50 per share, a total of $21,329,275, and $22,493,000 was added to capital funds, which now total $284,184,000 exclusive of the reserve of $41,505,000 for possible loan losses. This is an unallocated reserve, designed to provide protection in addition to capital funds against any possible future loan losses. Dates Set at St. Michael's Several dates of importance are marked on the calendars of St. Michael's Episcopal church members, who following a full Christmas program of special pageants, annual dinner and regular services, began a well-rounded program for the church's different groups. The Rev. John Kimball Saville, pastor, announced that the Altar Guild will be in charge of a devotional service tomorrow (Friday) afternoon at 3:30 o'clock. The study topic will be "Who Wrote the Prayers in Our Prayer Book." Tomorrow night at 7:30 o'clock, the Rev. Peter Paulson, former missionary in Costa Rica, will be guest speaker at a meeting of Los Miguelitos, young people's group, at the rectory. The 'grunt and groan' boys are slated to come back in full force tonight at the Orange County Athletic club with a triple main event including a tag battle matching four grapplers in the ring at once and two other top-flight matches. In the circus thriller, Terry McGinnis, the Columbus crusher and Jesse James, the Golden Greek from Texas are teamed against a pair of local "pet hates," Turbulent Ted Christy and Lee Bad Boy Grable. Chief Little Wolf takes on Hans Schnabel, the Milwaukee riot squad leader in a match which is slated for the best out of three falls or one hour. In the other main event Dick Trout meets Eric The Chest Holmbeck, the Alaska big boy who claims that his 57-inch expanded chest is the largest in the business. Zlaket's Still Set Pace in the 775 Bowling League The Lions Club took over third place by virtue of forfeit in the 775 league Tuesday evening at the Anaheim Bowling Academy. They replace Anaheim Truck and Transfer who dropped to fourth although taking two out of three from the Anaheim Bowling Academy team. Zlaket's kept firm grip on their first place position taking Merrifield's for two out of three. Zlaket turned in the high game for the evening, rolling a 195 and Joe Zlaket had the best average of the night, with a 506—rolling 171-184-151. Whieldon's who are at present occupying the cellar, knocked off the second place Oelriche team in two of the three game set. Robert A. Cameron Claimed by Death Robert A. Cameron, 75 years of age, passed away on Friday of last week, Dec. 31, 1948, following a long illness. The family home was at 200 Ellsworth street. Born in Greeley, Colo., he had been a resident of California for 28 years, the last four years in Anaheim. Left to mourn his passing are his wife, Orra B. Cameron of the home, and a son, Lloyd F. Williams of Anaheim. Funeral services were held Tuesday at 2 p.m. from the chapel of Bucks, Campbell and Kaulbars mortuary with the Rev. E. Woody Hodgson. Oilers, Orange And Fullerton Winners Tuesday Huntington Beach, Fullerton and Orange were leading the Sunset league following Tuesday nights opening games. The Oilers knocked off the Santa Ana Saints 34-30 while Orange beat our own Colonist quintet 35-34. Fullerton scored a one-sided 50-24 victory over Downey. Newport Beach nipped Brea 43-42 in a practice tilt. The 1949 Sunset schedule follows: Robert L. Briggs, 277 East Center street, Anaheim, has been commissioned a notary public. Secretary of State Frank M. Jordan has announced. The Rev. John Kimball Saville, pastor, announced that the Altar Guild will be in charge of a devotional service tomorrow (Friday) afternoon at 3:30 o'clock. The study topic will be "Who Wrote the Prayers in Our Prayer Book." Tomorrow night at 7:30 o'clock, the Rev. Peter Paulson, former missionary in Costa Rica, will be guest speaker at a meeting of Los Miguelitos, young people's group, at the rectory. Sunday at 7 o'clock in the evening will be the traditional "Feast of Lights" service, Rev. Saville stated. The pastor will attend the "School of the Prophets" in San Francisco, next Monday, January 10, to Friday, January 14. The Susan Lafaucherie Guild will meet at the home of Mrs. Esther Keen Wednesday evening at 8 o'clock. Mrs. A. P. M. Brown will be in charge of the literary program. WELCOME A SON A baby boy arrived for Mr. and Mrs. Abel Gomez, Route 3, Box 327-A. Anaheim, at the Orange County hospital, Wednesday of last week. The new comer tipped the scales at eight pounds and ten ounces. L.H. STAN Violin, Accordion, Hawaiian & Spanish Guitar Instruction Third Floor, Odd Fellows Hall 325 West Center St. Tuesday, 5 to 8 p.m. Factory Outlet Ceramics - Pottery - Dishes ANAHEIM MODERN (Open Eve's & Sun. by Appt.) Come In and Get Your Chance on 3 Lovely Gifts 714 N. Los Angeles ALICE RILEY, Prop. 4589 Fred Fuller New Manager of Aaron Schultz Store Fred A. Fuller has assumed the duties of manager of the Aaron Schultz Furniture store in Anaheim. It was announced by William M. Jones, merchandise manager of the Aaron Schultz Company. He fills the vacancy created by the appointment of Phillip Segrais to consulting decorator in the Schultz organization. Mr. Segrais who has managed the local store for the past few years can still be reached at the Anaheim store although his new duties will take him to the various other stores in the organization. Mr. Fuller comes from the Aaron Schultz Uptown Atlantic store in Long Beach, where he held the position of assistant manager. Elks' Family Party Big Success A telecast of the Tournament of Roses highlighted the Elks club family party on New Year's day, following a noon potluck dinner. Also enjoyed by those not viewing the television program were motion pictures shown in the downstairs dining room. More than 250 persons were entertained by the club during the day with Al Raymond serving as general chairman of the host committee. Bill Willeford's orchestra provided rhythmic dance music for the festive New Year's eve dance the preceding evening in the club ballroom. Chairman for the event was Andy Anderson, who, with his committee, arranged for saucy paper hats, effective noisemakers, vari-colored balloons and appropriate background decorations. Robert Muckler, Charles Stevens and Monroe Butler represent the oil interests of the state. Jefferson Peyser represents the Wine Institute. Ben Read represents the medical association and will again have his hands full battling Governor Warren's health bills. Kent Redwine who represents the movie industry provides lavish entertainment for the legislators. C. J. Haggerty and Charles Scully represent the A.F.L. but do little entertaining. Walter Little, of the Steam Railroads, and W. C. McWhinney of the Southern California Edison Company have reputations of being the ideal type of lobbyists. Both operate above board in a clean, businesslike manner. Jack Pettis, a former member of the legislature, has been around the legislature as long as anyone can remember, and knows all the angles. He represents Hastings Alumni Association. In addition to these top ranking lobbyists there are about 400 others who represent various industries and organizations in the state which means that for every member of the legislature there will be at least three people in Sacramento anxious to see that time does not hang heavy on the hands of your elected representative. To Farmers and Small Business Firms Your bookkeeping can be done by mail. Our service will . . 1. Keep your books. 2. Furnish you with trial balance and profit and loss statements each month. 3. Provide you with necessary business figures for your Federal and State income tax returns. Anaheim Day to View Berlin Art Is January 15 (Continued from page 1) hibit opened officially Tuesday morning with performances by a military band and fancydrill team. It was attended by Army, civic and museum officials. Mostly from the great collection of the Kaiser Friedrich Museum in Berlin, the masterpieces were found in April 1945 in salt mines at Merkers by American soldiers who were advancing rapidly through Germany in the final stages of the war. Led to the damp mines through routine questioning of some German women, the troops found 200 pictures packed 2000 feet below surface level in the damp mines as part of a cache which had been hidden by the Germans as a precaution against the bombing of Berlin. Their being brought to this country on an army transport for "safekeeping" was challenged by some 95 American art authorities, almost all connected with museums, who demanded the paintings be returned to Germany as Bank of America NATIONAL TRUST AND SAVINGS ASSOCIATION California's Statewide Bank RESOURCES Mult and in Reserve Bank $847,290,364.89 Banks 341,974,207.88 CASH $1,189,264,572.77 States Government Obligations, and fully guaranteed 1,545,280,553.13 enty, and Municipal Bonds 283,455,131.62 bids and Securities 109,996,633.92 Federal Reserve Bank 6,499,400.00 Jay H. Kugler represents the dairy industry of California and is an arch foe of oleomargarine, a subject which is certain to come before this session of the legislature. Rife Klawans, who represents the Veterans of Foreign Wars, like Lynn Peterson who ostensibly represents the American Legion, has other interests some of which conceivably could be in conflict with the Veterans Welfare. Peterson is also the lobbyist for the Eastside Brewing Company of Los Angeles, now owned by Pabst. Charles W. Lyon, former speaker of the assembly, now lobbies for the trucking interests. Much will be heard from the truckers this session. To Farmers and Small Business Firms Your bookkeeping can be done by mail. Our service will . . 1. Keep your books. 2. Furnish you with trial balance and profit and loss statements each month. 3. Provide you with necessary business figures for your Federal and State Income tax returns. We can keep your books for you cheaper and better than you can keep them yourself. If you are interested, we will be pleased to call and explain this method to you. There is no obligation. Address C. E. Holcomb 1221 E. Central Ave. Fullerton Phone 354 RESOURCES Ault and in Reserve Bank $ 847,290,364.89 Banks 341,974,207.88 CASH $1,189,264,572.77 States Government Obligations, and fully guaranteed 1,545,280,553.15 County, and Municipal Bonds 283,455,131.62 Bonds and Securities 109,996,633.92 Federal Reserve Bank 6,499,400.00 Discounts 2,807,070,397.91 Interest and Accounts Receivable 24,974,348.58 Houses, Furniture, Fixtures and Safe Deposit Vaults 42,438,450.40 Estate Owned 256,058.81 Liability on Account of Self Credit, Acceptances, and Endorsed Bills 63,106,784.24 Resources 571,540.33 TOTAL RESOURCES $6,072,913,871.73 LIABILITIES $ 106,646,375.00 110,000,000.00 Profits 62,872,254.99 4,666,168.06 CAPITAL FUNDS $ 284,184,798.05 Possible Loan Losses 41,505,513.86 Demand $3,139,747,378.91 Savings and Time 2,499,776,040.24 Letters of Credit and as Acceptor, or Maker on Acceptances and Foreign Bills 65,383,454.65 Interest Received In Advance 12,463,320.59 Interest Taxes, etc. 29,853,365.43 TOTAL LIABILITIES $6,072,913,871.73 This statement includes figures of the Bank's foreign branches. 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