anaheim-gazette 1961-01-05

Recession Stems From Stabilization of Prices, Says NAM Authority (Editor's Note: "What happened in business in 1960?" is the subject of the interesting review, prepared by an executive of the National Association of Manufacturers, presented below.) By RALPH ROBEY Most persons already have made their forecast for what is ahead for the next 12 months or longer. The number engaging in this annual exercise runs to many, many thousands. Businessmen have to do it as a basis for planning for the future. They may limit their predictions to their own markets and company, or they may cover the entire economic system. In addition, there are hundreds and hundreds of others who attempt to look into the future because it is a part of their job. We make such an annual forecast perhaps primarily because it is a habit—and to some extent as a result of it being expected—and we hope that it is of interest. This year the task is not easy. We have delayed beyond the usual date in order to have the benefit of what others had to say, and to get the latest possible statistics. Majority opinion, especially administration and the Federal Reserve Board, but it also was helped by the elimination of shortages and unsatisfied demands, by the development of a surplus of almost all basic commodities, and by the public deciding that prices were as high as they should be and, in effect, letting it be known that they were not going to pay any more. The second great influence on the business trend during 1960 was the change in inventories. In the first quarter of the year business added to its inventories at an annual rate of over $11 billion. That was a rate which could not be continued, but the rapidity of the change and its extent were much more extreme than usual. By the second quarter the rate of accumulation had been cut in half, by the third quarter it had been eliminated entirely, and in the fourth quarter apparently—final estimates are not yet published—there was an actual decline. Elimination of the fear of inflation unquestionably was important in bringing about this change of inventory policy. If goods are not going to cost any more there is no reason for holding unneeded supplies. Unused capacity in our major Junior Business Grows APACE Junior Achievement in Southern California has, in six short years, become the fourth largest in the nation in terms of JA companies in operation according to information received here this week from JA national headquarters in New York. This business program, which teaches teen-agers about the American Free Enterprise System by giving them the opportunity to actually organize and operate small companies on their own, was started here in 1954 by a founding committee of prominent businessmen. Included in its founders were Norman Chandler, publisher; Los Angeles Times; Earle M. Jorgensen, president; Earle M. Jorgensen Company; Courtland S. Gross, executive vice president; Lockheed Aircraft Corporation; H. C. McClellan president; Old Colony Paint & Chemical Company; Kenneth T. Norris, president; Norris Thermador Corporation; Morris B. Pendleton, president; Plomb Tool Company; James B. Shelton, president; Security First National Bank. In the first year of program operation there were 600 teen-agers operating 46 JA companies in Burbank and Hawthorne. The program now accommodates more than 1,800 teen-age business men, operating 121 JA companies in seven Los Angeles and Orange County locations, JA Business Centers are now located in Pasadena, Pomona, Anaheim. forecast perhaps primarily because it is a habit—and to some extent as a result of it being expected—and we hope that it is of interest. This year the task is not easy. We have delayed beyond the usual date in order to have the benefit of what others had to say, and to get the latest possible statistics. Majority opinion, especially among professional analysts, is that we have been in a mild recession for many months. Last April or May are the most commonly cited months for its beginning. It also is generally assumed by this group that the modest downturn will continue until the middle of 1961. Now there is no question that recently business has not been moving upward and much unfavorable news has been published. But have we been having what properly may be termed a recession? That depends, of course, upon how one defines "recession". Let us look at the major factors which pretty well determined the business curve over the past year. First was elimination of the fear of inflation. Since 1940 or before we have had an almost continuous increase of prices. Almost everyone got in the habit of assuming that the rise would continue. Then in 1959 prices began to stabilize and by early 1960 it was evident that it no longer made sense to count on higher and higher prices. To some extent this stability was the result of conscious policy on the part of the Federal reports. $3.6 Million Spent In Heart Research Money spent on research in causes and prevention of heart and circulatory diseases in California totaled nearly $3.6 million during 1959-60. Of the total, the Heart Association gave 22.7 percent, the Life Insurance Medical Fund 1.3 percent, and the National Heart Institute, U.S. Public Health Service, 76 percent, the Orange County Heart Association The NEW LOOK BUBBLE CUT GO VOGUE. Enjoy our original BUBBLE BOB. At last a hair style as light hearted as a bubble and no bother In the first year of program operation there were 600 teenagers operating 46 JA companies in Burbank and Hawthorne. The program now accommodates more than 1,800 teenage business men, operating 121 JA companies in seven Los Angeles and Orange County locations, JA Business Centers are now located in Pasadena, Pomona, Anaheim Westwood and Downey. George L. Woodford Jr., vice president of Security First National Bank and 1960-61 president of Junior Achievement in this area, said: "Business men m Southern California long recognized the need for a program of economic education such as Juniors" News About Our Service Men OUR SERVICEMEN ... walter Marine Pvt. John C. Gibson son of Mr. and Mrs. John S. Gibson of 2109 Alden St., has completed the four-week aviation mechanical fundamentals school at the Naval Air Technical Training Center, Memphis, Tenn. Marine Pvt. Nicholas Visni son of Mr. and Mrs. Thomas G. Visni of 9692 Bienville SO completed recruit training this month at the Marine Corps Recruit Depot, San Diego. The 11-week course includes instruction in all basic military subjects and infantry weaponry. Marine Lance Cpl. James D. Delmer, son of Mr. and Mr. James E. Counts of 304 Shields; Cpl. George G. Smith son of Mrs. Edith MacDonald of Anaheim Drive Rd.; Pv Timothy L. Nelson, son of M The NEW LOOK BUBBLE CUT GO VOGUE. Enjoy our original BUBBLE BOB. At last a hair style as light hearted as a bubble and no bother to care for. COLD WAVE 2.00 Permanent soft natural curls that need no after care Hair cut, shampoo and set complete. 4.95 Shampoo & Set $2.00, up Sat, $2.50 and up PERMANENT WAVE SPECIALS! Bleaching, Pastel Blending, Toning & Tinting, Hair Styling, Coloring Machines Air Conditioned Driers with Vibrating Beats and Back Cumbers PRICES YOU CAN AFFORD PERMACOIF—Reg. 10.00—7.95 PERMA FLAIR—Reg. 15.00—9.95 FASHION PEBM—Reg. 25.00 Your hair will have the Soft & Gentle Look so important in today's hair fashions yet your wave will be firm enough to assure long lasting lowelliness in any hair style. 11.95 We carry a complete line of Nationally Advertised Permanents with or without appointment OPEN DAY AND NITE WE ACCEPT INTERNATIONAL CREDIT CARDS PERMA TRESS SALONS All Salons Air Conditioned IN ANAHEIM Broadway Shopping Center At the End of the Mall PRospect 2-2803 COSTA NESA Harbor Shopping Center 2100 HARBOR BLVD. Next to Jolly Roger Restaurant Klmberly 9-0757 Brookhurst Shopping Center BROOKHURST and BALL (Next to the Bank of America) PRospect 2-7516 IN GARDEN GROVE ORANGE COUNTY PLAZA Chapman and Brookhurst LEhigh 9-5763 AD MUST BE PRESENTED FOR SPECIALS NIOR BUSINESS PROGRAM BROWS APACE IN SOUTHLAND Achievement in California has, in six years, become the fourth in the nation in terms companies in operation, going to information rehere this week from national headquarters in Park. business program, which teen-agers about the Free Enterprise Sysgiving them the opportunity to actually organize and small companies of own, was started here in a founding committee ment businessmen. In its founders were Chandler, publisher, Angeles Times; Earle M. Ken, president; Earle M. Ben Company; CourtGross, executive vice pant, Lockheed Aircraft station; H. C. McCellan, pant, Old Colony Paint & real Company; Kenneth Merris, president, Norrisdor Corporation; MorPendleton, president; Tool Company; James E. president, Security National Bank. The first year of program there were 600 teenoperating 46 JA communities Burbank and Hawford. The program now accidates more than 1,800 the business men, oper121 JA companies in Los Angeles and Orange locations, JA Business are now located in Pomona, Anaheim, Achievement, and their whole-hearted support of the program has enabled us to make the rapid expansion which brings this type of positive action to an ever increasing number of our local youths. "Only Chicago, Detroit and St. Louis now have larger programs than we have here in Southern California, and the available potential, financial support and participation by business men certainly indicates that it will not be too long before our local program will lead the nation." Cactus Society Meets, Installs Installation of 1961 officers of the Orange County Cactus and Succulent Society was held in the Recreation hall of the Snug Harbor Trailer Park, 1626 Newport Blvd., Costa Mesa, yesterday. Mrs. Susie Milburn assumed the society's presidency. Other new officers are Mrs. Jeanne Patten, vice president, and Mrs. Edith McAllister,reasurer. Less by a small fraction than 9159 and representing a decline of about 20 percent during the last 40 years, the death rate among American holders of ordinary life insurance policies in 1960 was 6.0 of every thousand persons. This is the report of the Institute of Life Insurance for the year just ending. The report observes that the death rate has been declining at the same time that the life insurance companies have liberalized their underwriting standards and are now accepting policy-holders who were previously unacceptable by former health and occupational standards. "The acceptance of these risks who might once have been considered as having a shorter life span has not jeopardized the continuing good mortality experience among policyholders," the report states. "The death rate record would show even greater improvement if it were not for the continuing high toll of heart disease and cancer." Together they account for about 75 percent of all ordinary policy deaths." Because of the substaincrease in life insurance orship over the past severys, a record $3,350,000 in total death benefits paid in 1960. However, it is estimated if the higher death ratio oi to 30 years ago prevailed t he payments might have nearly $1,000,000,000 great World's Largest The USS Enterprise, offiten Sept. 24, 1960, is world's largest ship and first nuclear-powered carrier. The white color of diamonds is more truly reflected in mounted in platinum or pallium than in yellow gold. Ford Motor Company's nutronic Division at New Beach has changed the name its research operations to search Laboratories. first year of program there were 600 teenoperating 46 JA community Burbank and HawThe program now accidates more than 1,800 business men, oper121 JA companies in Los Angeles and Orange locations, JA Business are now located in Pomona, Anaheim, wood and Downey. George L. Woodford Jr., vice agent of Security First NaBank and 1960-61 presiJunior Achievement in area, said: business men m Southern nia long recognized the r a program of economic tion such as Junior news About Service Men SERVICEMEN ... walters one Pvt. John C. Gibson, Mr. and Mrs. John S. of 2109 Alden St., has ted the four-week aviamechanical fundamental at the Naval Air Techtraining Center, Memenn. one Pvt. Nicholas Visnic, Mr. and Mrs. Thomas C. of 9692 Bienville St., ted recruit training this at the Marine Corps ReDepot, San Diego. The course includes inton in all basic military arms and infantry weapons. one Lance Cpl. James F. son of Mr. and Mrs. E. Counts of 304 S. Cpl. George G. Smith, Mrs. Edith MacDonald heim Drive Rd.; Pvt. y L. Nelson, son of Mr. continuing high toll of heart search Laboratories, AN DO Not only highest savings...but F THIS BEAUTIFUL RCA COLOR TV...FREE TO SOME LUCKY PERSON! Nothing to do but stop by and register. Drop by our temporary office half a block north of Center on Lemon. This may be your color TV! Drawing will be held at the close of business JAN. 10. TO SOME LUCKY PERSON! Nothing to do but stop by and register. Drop by our temporary office half a block north of Center on Lemon. This may be your color TV! Drawing will be held at the close of business JAN. 10. SALAD BOWL One of the most unusual and practical gifts we've ever seen: Large oval shape...smooth, wood-grained finish. Use it for years to come as a handsome bowl to hold your most attractive salads. IT'S YOURS FREE WITH A NEW ACCOUNT OR AN ADDITION OF $500 OR MORE! ROCKET BANK An amazing mechanical bank that stands 13 inches high and shoots coins with trigger action into "nose cone"...where they fall into body of rocket. Bright silver with red trim...it will delight youngsters (of any age!) YOURS FREE WITH A NEW ACCOUNT OR ADDITION OF $100 OR MORE! BLUE CHIP STAMPS NOW FREE One stamp per dollar saved up to a maximum of 1050 stamps for $1000. Stamps can be mailed. Regulations prohibit our giving both stamps and gifts. Other Gifts Can Not Be Mailed FREE TRANSISTOR RADIOS! ONE RADIO GIVEN AWAY EACH WORKING DAY JAN. 1-10 BE SURE TO COME IN AND REGISTER! You need not be present to win. WE WILL BE OPEN SATURDAY JAN. 7 FROM 9 AM TO 1 PM ANAHEIM S AND LOAN ASSOCIATION 187 WEST CENTER STREET • ANAHEIM Tourists Give Southland Visit Highest Rating A visit to Southern California is literally the "trip of a lifetime" to millions of tourists attracted here from other states, said Horace W. Brower, president of the All-Year Club, in reporting results of a survey into a sampling of last year's 4,77,000 tourists, who spent over $715 million. Asked when they had last taken a trip comparable in cost to the Southern California visit, 36 out of 100 said "never before," Brower said. Of those who had taken such a trip before, 17 out of 100 had made their trip to Southern California. Next most popular was Florida, with 11 out of 100. After that came Europe, with six, and New York City, with four. AID Record Set By Hunt Group Establishment of an AID (Associated In-Group Donors) chapter among employees of Fullerton's Hunt Foods & Industries, Inc., has resulted in a new record among the 70 chapters organized in Orange County the last six years. Orange County AID-United Givers headquarters this week announced that the initial pledge for 1961 by Hunt employees totaled $14,082. Adolf Schoepe, AID Orange County board member from Fullerton, who extended through their AID co-chairmen, their their AID co-chairmen, William Woodyard and Franz Schulte, said: WANT TO SELL that unused appliance? Use the Gazette USE Gazette Classified Ads. ? ? DISCOUNTS ? ? “CHECK OUR PRICES” CASTLE FURNITURE & APPLIANCES 121 N. SPADRA Hours: Mon.-Fri. 9 to 9 Sat. 9 to 6 Sun. 1 to 8 (OUT-OF-STATE CREDIT WELCOME) ANAHEIM SAVINGS DOES IT AGAIN! only highest earnings on insured ings...but FREE PRIZES AND GIFTS, too! The trend today is toward higher earnings...the Anaheim Savings way. During the past year we opened more new 4½% savings accounts than in any previous year in our history. Why not start earning more...today? When you open or add to an Anaheim Savings account between January 1st and January 10th you may choose from the free gifts shown here. And you may be the winner of a beautiful RCA Victor COLOR TV or a Transistor Radio...just by coming in and registering! ★ EACH ACCOUNT INSURED TO $10,000 ★ WE ARE THE OLDEST LOCALLY OWNED SAVINGS ASSOCIATION IN ANAHEIM ★ FREE SAVE-BY-MAIL PLAN...WE PAY YOUR POSTAGE BOTH WAYS FREE SAVE-BY-MAIL PLAN...WE PAY YOUR POSTAGE BOTH WAYS CURRENT 4½% ANNUAL RATE INTEREST PAID EVERY THREE MONTHS NEW BUILDING ON THE WAY! Although we are now doing business in temporary offices half a block north of Center and Lemon, we will be moving into our brand new and completely modern building at this familiar corner shortly after the first of the year. Watch us grow!