anaheim-gazette 1957-07-04

6 - Anaheim Gazette Anaheim, Calif., Thurs., July 4, 1957 Marines participated in the first flag-raising ceremony over Midway Island on Dec. 28, 1957. BACKS, CAMPBELL and KAULBARS MORTUARY 251 N. Lemon St. KEystone' 5-3209 Local Banker to Head CBA Farm Youth Program Richard H. Tunniecliff, Anaheim manager, Security-First National Bank of Los Angeles, will direct Orange County activities of the California Bankers Association Farm Youth Program for 1957-58. The announcement was made today by R. B. Hampson, Jr., President, CBA Group Four and Vice President, Citizens National Trust and Savings Bank of River-side. Group Four, which comprises CBA member banks in five counties, has regional responsibility for the Association's program in support of the 4-H, Future Farmer, Young Farmer and Young Homemakers organizations. Call KE 5-2205 for Want Ads SERVICES & SUPPLIES As Close as Your Phone Specialists in their Line A call Will Bring Them to Your Door OR ARRANGE AN APPOINTMENT NURSERY LEE'S For Easy Shopping LANDSCAPING BLUE & GOLD STAMPS Open Daily 8 to 6 — Sundays 9 to 5 2000 E. CENTER ST. — KE 5-8431 TIRE RETREADING 8 HOUR Bank of America Statement Showing Continuing Growth A record of continuing growth placed Bank of America at the ten billion dollar mark as total resources of $10,028,418 were posted in the bank midyear statement of condition. This figure, as of June 30, represents a gain of $506,661,913 at the same date a year ago. President S. Clark Beise at bank's head office in San Francisco reported that net operating earnings for the first six months after provision for taxes, with $35,108,766 or $1.37 per share, the 25,600,000 shares outstanding. "Although this amount is several cents per share lower than the same period in 1956," Beise said, "the net results evident that improved income during first half of the year has substantially compensated for ad costs of the increased interest rates now being paid our more than four million savings deposits." "It should be noted," Beise continued, "that savings and other time deposits have increased consistently since the first of year and are now $282,196 higher than on January 1." Total deposits of the statewide bank were reported at $8,937,2893, or $438,245,509 greater than Specialists in their Line A call Will Bring Them to Your Door OR ARRANGE AN APPOINTMENT NURSERY LEE'S For Easy Shopping LANDSCAPING BLUE & GOLD STAMPS Open Daily 8 to 6 — Sundays 9 to 5 2000 E. CENTER ST. — KE 5-8431 TIRE RETREADING 8 HOUR SERVICE ALL WORK GUARANTEED SHIPKEY & PEARSON Goodyear Tires 420 W. CENTER — ANAHEIM — KE 5-1107 — KE 5-1168 We Give S&H Green Stamps TV & RADIO SALES & SERVICE ON ALL MAKES H. R. FOX & CO. 411 E. CENTER ST. — ANAHEIM — KE 5-4886 There is an old saying that ... "MONEY DOES NOT GROW ON TREES" PLACE YOURS Where It Will Grow! Funds Placed with us by the 10th of July ... EARN 4% FROM July ... 4% FROM THE FIRST Payable 4 Times Per Year EVERY ACCOUNT INSURED UP TO $10,000 ANAHEIM BUILDING & LOAN ASSOCIATION Founded June 20, 1921 Center and Lemon St. Phone KE 5-2158 On the Friendly Corner — Anaheim, California Bank of America Statement Shows Continuing Growth Record of continuing growth and Bank of America above ten billion dollar mark today Total resources of $10,028,279 were posted in the bank's year statement of condition, figure, as of June 30, repreaing a gain of $56,661,913 since same date a year ago. President S. Clark Beise at the head office in San Francisco reported that net operating funds for the first six months, provision for taxes, were 98,766 or $1.37 per share on 55,600,000 shares outstanding, although this amount is seven per share lower than for same period in 1956." Beise "the net results evidence improved income during the half of the year has substantially compensated for added of the increased interest now being paid our more four million savings deposits should be noted," Beise condid, "that savings and other deposits have increased constantly since the first of the and are now $282,196,595 less than on January 1." Total deposits of the statewide were reported at $8,937,226,-or $438,245,509 greater than on June 30, 1956. Loans outstanding are $5,351,-598,843, an increase of $277,738,-925 during the past 12 months. It was further reported that the bank's investments in securities stood at $2,618,599,646, as compared with $2,619,701,178 in mid-1956. Continuing with his report on earnings, Beise revealed that transactions in securities during the current period yielded $300,-749. After transfer of $5,000,000 to the reserve for possible loan losses, resulting in a tax saving of $2,366,000, a total of $32,775,-515 was available for dividends and addition to capital funds. Of this total, dividends amounting to $23,040,000 were paid to more than 200,000 shareholders during the six months at the regular annual dividend rate of $1.80 per share. This is $1,920,-000 more than was paid in the similar 1956 period. AVIATION GUNNER Qualified in aviation gunnery and as a carrier pilot May 28, was Naval Cadet Lee R. Brooks, son of Mr. and Mrs. Joseph R. Brooks of 529 West Vermont, Anaheim. Cadet Brooks attended the University of Southern California before entering the service. He is now undergoing advanced flight training at the Naval Air Station, Corpus Christi, Tex. Call KE 5-2206 for Want Ads Truck Weighing Crews to be Here July 17 to 19 A specially-trained, 27-member survey crew of the California Division of Highways is beginning a series of truck weighing operations that will be carried on at 37 selected locations along streets and highways throughout the state during the next two and a half months. State Highway Engineer G. T. McCoy announced today. The group will be in Anaheim from Wednesday morning, July 17, to Friday morning, July 19. The surveys are being made to determine the amount and weight of truck traffic on highways within California and are being carried on as one of the requirements of the 1956 Federal-Aid Highway Act. Although Division of Highways personnel are making the survey, the project is a joint study conducted by the State and the U. S. Bureau of Public Roads. The weighing will be on a sampling basis and will be conducted as a round-the-clock operation necessitating three shifts of survey interviewers so that a representative report of the truck traffic at each location can be obtained. At locations where there are no permanent truck scale installations, the crew will use a portable scale furnished by California Highway Patrol. The surveys will be conducted on state highways, county and city streets at selected tions as far north as Arro Humboldt County and south as Brawley in Inlet County. The survey interview oo of asking the driver of these several questions and wee his vehicle. The whole process normally takes only a few mins for each interview. Associated C of Installs Officers The annual banquet and lation of officers for the A rated Chambers of Commerce Orange County was held Tuesday evening at the Gourmet, Dia land Hotel, the principal s for the evening being The Mitchell, famous for his roo motion pictures, stage, radio television, and winner of thie tion picture "Oscar" as we ve the TV "Emmy" award in Mr. Mitchell is well known his various portrayals in dizi New officers installed by perior Court Judge Franklin West of Santa Ana were: pr dent, Robert A. Dalley, man Delco-Remy Division of Ge Motors; vice-president, Sam ons; Security Title Company Santa Ana; treasurer, S Franklin; attorney of Costa N The finance committee insti were: Louis Lake of G Beise conl "that savings and other deposits have increased contently since the first of the and are now $282,196,595 or than on January 1." Anaheim. Cadet Brooks attended the University of Southern California before entering the service. He is now undergoing advanced flight training at the Naval Air Station, Corpus Christi, Tex. Call KE 5-2206 for Want Ads Electric cooking keeps more juice in roast chicken—because it's flameless! When you cook electrically there's no draft of constantly changing air because there's no flame. (Flame, you see, needs air to breathe. So a flame-heated oven constantly inhales dry air, exhales moist air—literally cooks meat in a hot draft that evaporates good juices.) In an electric oven there's no draft of dry air. You cook with moist heat. As a result, more juice stays in the meat...and the sampling basis and will be conducted as a round-the-clock operation necessitating three shifts of survey interviewers so that a representative report of the truck traffic at each location can be obtained. At locations where there are no permanent truck scale installations, the crew will use a new officers installed by perior Court Judge Franklin West of Santa Ana were: pident, Robert A. Dailey, man Delco-Remy Division of Geo Motors; vice-president, Sammons, Security Title Company Santa Ana; treasurer, Franklin, attorney of Costa Mesa The finance committee insterwere: Louis Lake of G Grove, William Nunlist of E Park, W. L. "Buss" Wells o vine; Lee Winterton of San mente, and Lee Barton of Y Linda. The entertainment for the ning was the Val Moore Haw Hula Nani Girls, including F Ninomi, Japanese soprano sings in eight languages. In also was Dolores Pool, a fo student of the studio, who featured by Art Linkletter his return from a visit to th lands. Mr. Dailey will officially his duties as president with July 1 Board of Directors reing to be held at the Orange C y Court House in Santa Ana meeting scheduled to start at Cond Cash and Due United States Guaranteed Federal Agency State, County, Other Securities Loans Guarantee States Govern Other Loans and Bank Premises Customers' Lia Accrued Intere TOTAL RES When you cook electrically there's no draft of constantly changing air because there's no flame. (Flame, you see, needs air to breathe. So a flame-heated oven constantly inhales dry air, exhales moist air—literally cooks meat in a hot draft that evaporates good juices.) In an electric oven there's no draft of dry air. You cook with moist heat. As a result, more juice stays in the meat...and the meat tastes better. Electric cooking is far cooler, too. As much as 16° cooler. The reason is obvious: electric cooking puts the heat directly into the food, not into the room. Electric cooking is cleaner, too, because it's flameless. There are no by-products of combustion to dirty walls and darken your bright pans. Truly, it's the only modern way to cook. Why not see your appliance dealer for a demonstration of the new electric ranges? SOUTHERN CALIFORNIA Gdsen COMPANY LIVE BETTER—ELECTRICALLY! Did you know? Flameless electric cooking costs about $1.50 a month for a family of 4 Other Securities Loans Guarantee States Govern Other Loans and Bank Premises, Customers' Liaison Accrued Interest TOTAL RES Capital . . Surplus . . Undivided Profit TOTAL CAP Reserve for Pos DEPOSITS { Demi Savi Liability for Let Reserve for Int TOTAL LIAB Home Office—New Y RESOURCES Cash and Due from Banks . . United States Government Obligations . . Other Securities . . Loans and Discounts . . Customers' Liability on Letters Credit, etc . . Accrued Interest and Other Resources . . TOTAL RESOURCES . . 1957 LEGION FIREWORKS SHOW SET FOR COLISEUM NIGHT OF JULY 4th Here's the kind of dazzling action you'll see Thursday night, July 4th, at the Los Angeles Coliseum, which will be the scene of the 25th annual American Legion Fireworks Show, the world's largest pyrotechnical display. All proceeds of glittering event will go to veterans rehabilitation. GM to Offer Foreign Made Cars to Public Vauxhall and Opel passenger cars, manufactured by General Motors in Europe, will be offered for sale on the American market. try by GM's Pontiac Motor Division and the Opel line by Buick Motor Division. The first shipment of the two lines will be made to the North Atlantic Coast area. In line with availability, distribution will then be extended to the Pacific Coast area and later to the balance of GM to Offer Foreign Made Cars to Public Vauxhall and Opel passenger cars, manufactured by General Motors in Europe, will be offered for sale on the American market for the first time beginning this fall, Harlow H. Curtice, president of GM announced today. Importing of limited numbers of the new Vauxhall Victor, built in England, and the Opel Rekord, produced in West Germany, will begin in September. The redesigned Vauxhall and Opel retain those features that are essential in foreign markets but both will offer advanced styling and engineering features "which have proven to be highly acceptable in our American products." Mr. Curtice said in a letter to GM distributors and dealers in which he announced the new plans. Distribution of the Vauxhall line will be handled in this county by GM's Pontiac Motor Division and the Opel line by Buick Motor Division. The first shipment of the two lines will be made to the North Atlantic Coast area. In line with availability, distribution will then be extended to the Pacific Coast area and later to the balance of the United States as rapidly as possible. Mr. Curtice announced. Max Kiel airfield at Little America, Antarctica, sits on an ice shelf 800 feet thick. ANAHEIM TRUCK & TRANSFER CO. Moving - Storage General Trucking PHONE KEY 5-2863 505 S. Los Angeles St. ANAHEIM Bank of America NATIONAL TRUST AND SAVINGS ASSOCIATION Condensed Statement of Condition June 30, 1957 (Figures of Overseas Branches are as of June 24, 1957) RESOURCES Cash and Due from Banks $ 1,558,367,435.78 United States Government Securities and Securities Guaranteed by the Government 1,803,469,268.11 Federal Agency Securities 96,410,491.90 State, County, and Municipal Securities 611,733,381.99 Other Securities 106,986,504.84 Loans Guaranteed or Insured by the United States Government or its Agencies 1,399,558,306.55 Other Loans and Discounts 3,952,040,536.86 Bank Premises, Fixtures, etc. 106,668,170.86 Customers' Liability on Letters of Credit, etc. 338,287,889.34 Accrued Interest and Other Resources 54,757,432.31 TOTAL RESOURCES $10,028,279,418.54 LIABILITIES Other Securities . . . . . . . . . . . . . . . . . . . . . . . 106,986,504.84. Loans Guaranteed or Insured by the United States Government or its Agencies . . . . 1,399,558,306.55 Other Loans and Discounts . . . . . . . . . . . . 3,952,040,536.86 Bank Premises, Fixtures, etc. . . . . . . . 106,668,170.86 Customers' Liability on Letters of Credit, etc. . 338,287,889.34 Accrued Interest and Other Resources . 54,757,432.31 TOTAL RESOURCES $10,028,279,418.54 LIABILITIES Capital $160,000,000.00 Surplus 290,000,000.00 Undivided Profits and Reserves 122,602,516.31 TOTAL CAPITAL FUNDS $572,602,516.31 Reserve for Possible Loan Losses 83,806,828.65 DEPOSITS Demand $4,338,803,917.48 Savings and Time $4,598,422,976.46 Liability for Letters of Credit, etc. 338,338,769.13 Reserve for Interest, Taxes, etc. 96,304,410.51 TOTAL LIABILITIES $10,028,279,418.54 Main Offices in the two Reserve Cities of California SAN FRANCISCO • LOS ANGELES Branches througout California Overseas branches: London, Manila, Tokyo, Yokohama, Kobe, Osaka, Bangkok, Guam Member Federal Deposit Insurance Corporation • Member Federal Reserve System Bank of America (International) A wholly-owned subsidiary Condensed Statement of Condition June 30, 1957 Home Office—New York, N.Y. Branches: Duesseldorf • Singapore • Paris • Reirut (Branch figures are as of June 24, 1957) RESOURCES Cash and Due from Banks $170,042,063.92 United States Government Obligations 9,964,288.51 Other Securities 4,310,492.76 Loans and Discounts 131,205,715.41 Customers' Liability on Letters of Credit, etc. 171,662,901.79 Accrued Interest and Other Resources 2,300,033.74 TOTAL RESOURCES $489,385,496.13 LIABILITIES Capital $13,000,000.00 Surplus 6,000,000.00 Undivided Profits 2,028,929.40 TOTAL CAPITAL FUNDS $21,028,929.40 Reserve for Possible Loan Losses 1,624,867.64 Deposits 289,725,206.71 Liability for Letters of Credit, etc. 174,567,316.93 Reserve for Interest, Taxes, etc. 2,439,175.45 TOTAL LIABILITIES $489,385,496.13