July 9, 1942 (4 pages)

Page Four NEVADACITYPER CAPITA DEBT 1S ONLY $7.36 The’ city City with a bonded deft of $18,000 and a per capita debt of $7.36 at June 30, 1941, ranked 211th from the highest among the 286 California cities in per Capita debt, analysis of the in-! debtedness of California cities, completed today by California Taxpayers association, shows. Local government budgets for! 1942-43 are being made up during the present, time. To the spending and activity programs which are financed by those budgets, no better measure than that set by Secretary ‘Morgenthau recently can be applied. Said the Secretary of the Treasury: “Tf we, spend our money extravagantly, carelessly, or even to satisfy what would have been our normal wants in normal times — we take away from our fighting forces the supplies they need for victory. Every time you are about to spend money, your conscience should ask -you ‘Do you really need what you are going Dedt payments of the city amount-:t0 buyt Cent ‘pte si without Ze Why e@ to $1,050, for interest and '$3,-. 20! Walt math ote the we ait 009 for redemption, the association, .* Public opinion demanding drasfound. itic economy by local governments ‘ ‘today will help economy minded ofPayments on wonded debt are thel¢icials to keep those governments, culy, place where government eX-/. f,9m carrying on a spending spree penditures cannot be reduced to meet; which will be a menace to the war war conditions, the Taxpayers’ as-) effort and to our economic future, sceciation declared. After a debt has tne association declared. fheen voted by the people and the, : fobonds have been issued, payments of interest and redemption must be, : met when due until the debt has When shopping mention the Nevada been wiped out. However, debt pay-. City Nugget ads . ments are only one of the expenditq ! f DRIVE-IN OPEN SEVEN DAYS A WEEK. DRIVE OUT AND . SEE US GRASS VAULEY-NEVADA CITY HIGHWAY of Nevada PHONE 412 2 a ‘ EGGS YES Fresh Loca! Eggs are not hauled from San Francisco or Sacramento either LARGE GRADE A, PER DOZEN . 37 CENTS SUGAR PER POUND 7 CENTS (No Charge for Bags Our Canned Goods are Brands You Know and are PRICED RIGHT WE BUY OUR FRESH Meat and Bacon FROM ARMOUR AND THERE IS NO BETTER ‘ We Are-Open at 8 o’clock A. M. and Close at 7:45 P. M. Except Pay Days and Saturdays DURATION ~ Let us keep you informed of developments on. our own front—Nevada County. ‘The Nugget provides you with the local news you are interested in. It is proud of its record for publishing the facts and during these times the printing of the truth is essential. The Nugget comes to you twice weekly, Monday and. Thursday. afternoons, at SUBSCRIBE FOR THE NUGGET TOD ures of ciy and other governments. ! I e CALIFORNIA GAINS MILLION IN YEAR . NEW POPULATION By Ralph H. Taylor In war time, changes occur which, in normal times, would make Page 1 headlines, but Which are hardly noted, or at least little considered, when interest is centered on the war effort. Such changes have “happened here’, and while the public in a vakue way undoubtedly knows about it, few have stopped to ponder what it will mean to the California of tomorrow. , ‘The untold—or .at least undigested—story is simply this: California, during the past twelve months, has gained in population nearly a million new residents. The defense workers migration -to this state has outstripped anything that happened in the’‘‘days of gold” or in the drab days which came after the Dust Bowl. (Conservatively, 800,000 persons have moved into the state since the war production program was inaugurated, aside from the _ military. f Probably, the figure is nearer a million. In ordinary times, every Chamber of Commerce in the state would be bragging about it; “te All-Year iClub and Californians, Inc., would be devoting three color pamphlets to it, legislative committees would be. resolving about it—-and the real estate industry would have the weleome sign hung on every lamp post. But because the national emersency has over shadowed all other events, the evolutionsary and revolu. tionary changes in California have received scant, attention, even from our boost bodies. Yet much of this new population will undoubtedly remain after the war is over — and (California, for better or worse, has permanently changed status during the war period. It has become one of the top ranking industrial states in the Union. A decade ago, California was in 17th place among the Nevada City Nugget states; a year or two ago, it had climbed to 7th place. Today, it is one of the biggest industrial states in the whole country. Today it has undertaken the tremendous job of producing more than one tenth of all the war materials which the country needs for victory. Yet,it has’ little more than one twentieth of the na{tion’s total manpower, even with its re¢ent phenomenal gains in population.What will happen after the war is over? Will the great manufacturing and industrial concerns dismantle their plants here and return bag and baggage, to Chicago, Pittsburg, New York or the old industrial centers of the New England states? Orwill California retain, in peace time, the industrial leadership which it attained in war? Will California be able to aibsorb into its peace time economy the million new citizens who have come here to build ships and aircraft and other war equipment? Or will tens of thousands of them, thrown out of emploment by shut downs in war industries, go on the relief rolls and become a semi-permanent charge against the taxpayers? The question is of vital importance to the whole state. It is of particular importance to California agriculture, for this state’s farming industry, long compelled to ship the bulk of its products to the eastern seaboard, will benefi tremendously .if it has a greatly increased industrial popuket. one of the worst sufferers if factories close down and relief rolls lengthen. Inevitably, there will be serious dislocations during the post war eriod, and no one, at this time, can safely forecast how long it will take nor how much it will cost—both in money and in loss of employment— production of consumer goods. California, being one of the nation’s greatest producers of both agricultural and industrial commodities for the war effort, will have one of the most serious change-over problems to cope with when the war is ended. But in this writer’s opinion, Califorindustrial nia, if its leaders have the necessary 4 S) E ht is on sale in Nevada City Harris‘Drug Store. In Grass 5 “The Castle,” SKETCHES OF THE GOLD COUNTRY Sketches of the Gold Country embrpces. short, vivid recitals of the scenic and historical charm of Nevada City, Grass Valley, Dutch Flat, Washington, Bloomfield, French Corral, You Bet and Red Dog, Rough and Ready, and North San Juan. The book, written by Harley M. Leete, Jr., is illustrated with pen drawings by Clifford Warner. IT SELLS FOR 50 CENTS PER COPY . ; Dickerman Drug Store, the Shamrocl: Cafe, and the _ book. In, Sacramento, Levinson’s Book store; in San Francisco at Paul Elder's, Newbegin, John Howell and . David Magee _ Nevada City — : at the Nugget Office, the Valley, Samson's sells the acnaenineess aver) lation to feed right in its home mar-. Conversely, agriculture will be} to shift from war production to the} — Thursday, july 9, 1942 foresight and vision, will retain its newly won industrial leadership. A vast reservoir of power and raw materials is here to make this, state an ideal location for big industries; there is an ideal workers’ climate here; there are’ shipping facilities here, near at hand, to tap the new markets which will doubtless tbe opened wp in the Pacific. Here, too, is the No. 1 farm state’ of the nation, capable’ of feeding and clothing a population dowble or treble’ that dustry, we believe, has come to stay, it is probably one of the most significant changes in our economic history. ‘ BPWC PRESIDENT URGES MEMBERS TO REGISTER TO VOTE Northern District BPWIC president ‘Marie Williford, of Grass Valley, announced today that all BPWC clubs should encourage their memilbers to register and vote in the ‘fall ~ elections. The deadline for registering is July 16. . Mrs. Williford stated ‘‘Democracy is endangered in war time. By using the right and privilege of voting we are helping preserve democracy.”’ “The privilege of voting is not to he lightly handled. It means more than just marking a ballot,” she said. ; } which California has today. And in-. “Bach candidate should be thoroughly studied—his backSround, his (platform, his beliefs. Each bill or referendum should be studied to ascertain that it contains no veiled meanings, that it will be beneficial to the majority, that it is really necessary.’’ “Mrs. Williford urges ‘‘that we encourage every eligible man and woman to register and to vote, not only to ‘Strengthen Democracy for Defense,’ but to strengthen it for the future.” BANK’S RECORD — TS APPLAUDED Bank of America’s mid-year state-’ ment of condition, which appgars elsewhere in this issue, is sea iby local officers of the bank as evidence of the institution’s constantly ‘growing ability to serve the entire state and, particularly, _to continue major financial assistance to war production industries. The bank’s continued growth attributed to devotion of the statewide staff to a policy of puhlic service, to efficient management, and to the loyal support of customers whose savings and other’ surplus funds function as ‘‘fighting dollars” while on deposit. Bank of America Mid-year Statement Shows Progress Bank of America as of June 30, 1942, shows deposits at the alltime high mark of $1,958,430,000, an increase of $272,942,000 over a year ago and an increase of $50,047,000 since December 31, 1941. Total resources were $2,143,202,000, a gain of $265,464,000 over a year ago. a 8 LARGE LOAN VOLUME Loans and discounts outstanding aggregated $889,353,000 which is $44,887,000 higher than a year ago. Since December 31, 1941, loans and discounts decreased $25,216,000, while bond investments increased $81,437,000. Earnings after operating — expenses and accruals for taxes were $12,618,000. From this total $2,133,000 was reserved for depreciation of bank premises and amortization of bond premiums and $2,053,000 was set up in reserves and applied to the absorption of losses or the revaluation of. assets. After payment of $5;267,000 in dividends at the annual rate ot $2.40 per share on the common stock and $2.00 per share on the preferred stock, and after profitsharing bonus to employes, capital funds were increased from earnings for the six months’ period by $3,119,000. This, with the diviThe statement of condition ofIncreasing Capacity of Statewide Bank to Spur More W.r Production dend, is equal to approximately $4.00 per share per annum on the common stock. ; WAR RESERVES Following the policy: previously established, one-half of the net i increase in undivided profits was transferred to the war contingencies reserve. Capital funds, including reserves, now total $158,767,000, which is an increase of $2,024,000 for the year, after the utilization of $3,882,450 to retire 77,649 shares of preferred stock during the period, and after applying $842,000 of an unallocated reserve, previously set up for the purpose, to reduce the book value of certain banking premises, in addition to normal depreciation. WAR PRODUCTION President L. M. Giannini stated that the curtailed demand for ordinary civilian credit had made more funds available to finance war production. “We are continuing to carry forward our policy of unstinted support to : America’s victory program,” he said. Resources . . . $2,143,202,620.43° Deposits . . $1,958,430,526.32 .CapitaL Funps. $ 158,767,671.61 (As of June 30, 1942) Bank of America N. T. & S. A., a member of the Federal Deposit Insurance Corporation, has 495 branches united for strength and service. Nevada : MARRIED BACHELO Young and Ruth Hussey. 4 Susan Ken Murray. TUTTEES OF TAE FRIDAY AND SATURDAY Dekker. A killer on the loose. and he held a strange fascination for women. Also Juke Box Jennie with SUNDAY, MONDAY AND TUESDAY Romance aflame unde smiling Seas skies, in this glowing venture from the pens of the authors of Charles‘ Laughton, Jon'Hall and Peggy Drake have the leading roles. WEDNESDAY AND THURSDAY Marriage problems are answered in this riotous romance, starring Robert Howard, Harry Carey and Albert South screen! ad“Mutiny.on the Bounty.” KEEP— YOUR ROLLING! to > YOU WON'T BE ABLE TO BUY A NEW CAR FOR SOMETIME— —But In the Meantime— We can Grease, Paint, Repair, Give an Engine Overhaul, Reline Brakes, Mend Fenders, and help you keep it—Dick Lane’s Service. Station 180 BROAD STREET—NEVADA CITY—PHONE 525 C A R —ROLLING! “in your hour of need. HOOPER & MORTICIANS 246 South Church Street The flowers of memoryare thoughts of the beloved who has gone before. last treasured moments before darkness came. lief and consolation of services perfectly planned against a background of flowers. Music that purges the emotions of sorrow, and appointments chosen to lift the burden from those bereaved. Call on us Telephone 346 The The recarefully and_ tactfully WEAVER AMBULANCE SERVICE _ 6 Grass Valley is ; ‘ ¥ j 9 ra i a re 1. XY . : i

Page Four NEVADACITYPER CAPITA DEBT 1S ONLY $7.36 The’ city City with a bonded deft of $18,000 and a per capita debt of $7.36 at June 30, 1941, ranked 211th from the highest among the 286 California cities in per Capita debt, analysis of the in-! debtedness of California cities, completed today by California Taxpayers association, shows. Local government budgets for! 1942-43 are being made up during the present, time. To the spending and activity programs which are financed by those budgets, no better measure than that set by Secretary ‘Morgenthau recently can be applied. Said the Secretary of the Treasury: “Tf we, spend our money extravagantly, carelessly, or even to satisfy what would have been our normal wants in normal times — we take away from our fighting forces the supplies they need for victory. Every time you are about to spend money, your conscience should ask -you ‘Do you really need what you are going Dedt payments of the city amount-:t0 buyt Cent ‘pte si without Ze Why e@ to $1,050, for interest and '$3,-. 20! Walt math ote the we ait 009 for redemption, the association, .* Public opinion demanding drasfound. itic economy by local governments ‘ ‘today will help economy minded ofPayments on wonded debt are thel¢icials to keep those governments, culy, place where government eX-/. f,9m carrying on a spending spree penditures cannot be reduced to meet; which will be a menace to the war war conditions, the Taxpayers’ as-) effort and to our economic future, sceciation declared. After a debt has tne association declared. fheen voted by the people and the, : fobonds have been issued, payments of interest and redemption must be, : met when due until the debt has When shopping mention the Nevada been wiped out. However, debt pay-. City Nugget ads . ments are only one of the expenditq ! f DRIVE-IN OPEN SEVEN DAYS A WEEK. DRIVE OUT AND . SEE US GRASS VAULEY-NEVADA CITY HIGHWAY of Nevada PHONE 412 2 a ‘ EGGS YES Fresh Loca! Eggs are not hauled from San Francisco or Sacramento either LARGE GRADE A, PER DOZEN . 37 CENTS SUGAR PER POUND 7 CENTS (No Charge for Bags Our Canned Goods are Brands You Know and are PRICED RIGHT WE BUY OUR FRESH Meat and Bacon FROM ARMOUR AND THERE IS NO BETTER ‘ We Are-Open at 8 o’clock A. M. and Close at 7:45 P. M. Except Pay Days and Saturdays DURATION ~ Let us keep you informed of developments on. our own front—Nevada County. ‘The Nugget provides you with the local news you are interested in. It is proud of its record for publishing the facts and during these times the printing of the truth is essential. The Nugget comes to you twice weekly, Monday and. Thursday. afternoons, at SUBSCRIBE FOR THE NUGGET TOD ures of ciy and other governments. ! I e CALIFORNIA GAINS MILLION IN YEAR . NEW POPULATION By Ralph H. Taylor In war time, changes occur which, in normal times, would make Page 1 headlines, but Which are hardly noted, or at least little considered, when interest is centered on the war effort. Such changes have “happened here’, and while the public in a vakue way undoubtedly knows about it, few have stopped to ponder what it will mean to the California of tomorrow. , ‘The untold—or .at least undigested—story is simply this: California, during the past twelve months, has gained in population nearly a million new residents. The defense workers migration -to this state has outstripped anything that happened in the’‘‘days of gold” or in the drab days which came after the Dust Bowl. (Conservatively, 800,000 persons have moved into the state since the war production program was inaugurated, aside from the _ military. f Probably, the figure is nearer a million. In ordinary times, every Chamber of Commerce in the state would be bragging about it; “te All-Year iClub and Californians, Inc., would be devoting three color pamphlets to it, legislative committees would be. resolving about it—-and the real estate industry would have the weleome sign hung on every lamp post. But because the national emersency has over shadowed all other events, the evolutionsary and revolu. tionary changes in California have received scant, attention, even from our boost bodies. Yet much of this new population will undoubtedly remain after the war is over — and (California, for better or worse, has permanently changed status during the war period. It has become one of the top ranking industrial states in the Union. A decade ago, California was in 17th place among the Nevada City Nugget states; a year or two ago, it had climbed to 7th place. Today, it is one of the biggest industrial states in the whole country. Today it has undertaken the tremendous job of producing more than one tenth of all the war materials which the country needs for victory. Yet,it has’ little more than one twentieth of the na{tion’s total manpower, even with its re¢ent phenomenal gains in population.What will happen after the war is over? Will the great manufacturing and industrial concerns dismantle their plants here and return bag and baggage, to Chicago, Pittsburg, New York or the old industrial centers of the New England states? Orwill California retain, in peace time, the industrial leadership which it attained in war? Will California be able to aibsorb into its peace time economy the million new citizens who have come here to build ships and aircraft and other war equipment? Or will tens of thousands of them, thrown out of emploment by shut downs in war industries, go on the relief rolls and become a semi-permanent charge against the taxpayers? The question is of vital importance to the whole state. It is of particular importance to California agriculture, for this state’s farming industry, long compelled to ship the bulk of its products to the eastern seaboard, will benefi tremendously .if it has a greatly increased industrial popuket. one of the worst sufferers if factories close down and relief rolls lengthen. Inevitably, there will be serious dislocations during the post war eriod, and no one, at this time, can safely forecast how long it will take nor how much it will cost—both in money and in loss of employment— production of consumer goods. California, being one of the nation’s greatest producers of both agricultural and industrial commodities for the war effort, will have one of the most serious change-over problems to cope with when the war is ended. But in this writer’s opinion, Califorindustrial nia, if its leaders have the necessary 4 S) E ht is on sale in Nevada City Harris‘Drug Store. In Grass 5 “The Castle,” SKETCHES OF THE GOLD COUNTRY Sketches of the Gold Country embrpces. short, vivid recitals of the scenic and historical charm of Nevada City, Grass Valley, Dutch Flat, Washington, Bloomfield, French Corral, You Bet and Red Dog, Rough and Ready, and North San Juan. The book, written by Harley M. Leete, Jr., is illustrated with pen drawings by Clifford Warner. IT SELLS FOR 50 CENTS PER COPY . ; Dickerman Drug Store, the Shamrocl: Cafe, and the _ book. In, Sacramento, Levinson’s Book store; in San Francisco at Paul Elder's, Newbegin, John Howell and

. David Magee _ Nevada City — : at the Nugget Office, the Valley, Samson's sells the acnaenineess aver) lation to feed right in its home mar-. Conversely, agriculture will be} to shift from war production to the} — Thursday, july 9, 1942 foresight and vision, will retain its newly won industrial leadership. A vast reservoir of power and raw materials is here to make this, state an ideal location for big industries; there is an ideal workers’ climate here; there are’ shipping facilities here, near at hand, to tap the new markets which will doubtless tbe opened wp in the Pacific. Here, too, is the No. 1 farm state’ of the nation, capable’ of feeding and clothing a population dowble or treble’ that dustry, we believe, has come to stay, it is probably one of the most significant changes in our economic history. ‘ BPWC PRESIDENT URGES MEMBERS TO REGISTER TO VOTE Northern District BPWIC president ‘Marie Williford, of Grass Valley, announced today that all BPWC clubs should encourage their memilbers to register and vote in the ‘fall ~ elections. The deadline for registering is July 16. . Mrs. Williford stated ‘‘Democracy is endangered in war time. By using the right and privilege of voting we are helping preserve democracy.”’ “The privilege of voting is not to he lightly handled. It means more than just marking a ballot,” she said. ; } which California has today. And in-. “Bach candidate should be thoroughly studied—his backSround, his (platform, his beliefs. Each bill or referendum should be studied to ascertain that it contains no veiled meanings, that it will be beneficial to the majority, that it is really necessary.’’ “Mrs. Williford urges ‘‘that we encourage every eligible man and woman to register and to vote, not only to ‘Strengthen Democracy for Defense,’ but to strengthen it for the future.” BANK’S RECORD — TS APPLAUDED Bank of America’s mid-year state-’ ment of condition, which appgars elsewhere in this issue, is sea iby local officers of the bank as evidence of the institution’s constantly ‘growing ability to serve the entire state and, particularly, _to continue major financial assistance to war production industries. The bank’s continued growth attributed to devotion of the statewide staff to a policy of puhlic service, to efficient management, and to the loyal support of customers whose savings and other’ surplus funds function as ‘‘fighting dollars” while on deposit. Bank of America Mid-year Statement Shows Progress Bank of America as of June 30, 1942, shows deposits at the alltime high mark of $1,958,430,000, an increase of $272,942,000 over a year ago and an increase of $50,047,000 since December 31, 1941. Total resources were $2,143,202,000, a gain of $265,464,000 over a year ago. a 8 LARGE LOAN VOLUME Loans and discounts outstanding aggregated $889,353,000 which is $44,887,000 higher than a year ago. Since December 31, 1941, loans and discounts decreased $25,216,000, while bond investments increased $81,437,000. Earnings after operating — expenses and accruals for taxes were $12,618,000. From this total $2,133,000 was reserved for depreciation of bank premises and amortization of bond premiums and $2,053,000 was set up in reserves and applied to the absorption of losses or the revaluation of. assets. After payment of $5;267,000 in dividends at the annual rate ot $2.40 per share on the common stock and $2.00 per share on the preferred stock, and after profitsharing bonus to employes, capital funds were increased from earnings for the six months’ period by $3,119,000. This, with the diviThe statement of condition ofIncreasing Capacity of Statewide Bank to Spur More W.r Production dend, is equal to approximately $4.00 per share per annum on the common stock. ; WAR RESERVES Following the policy: previously established, one-half of the net i increase in undivided profits was transferred to the war contingencies reserve. Capital funds, including reserves, now total $158,767,000, which is an increase of $2,024,000 for the year, after the utilization of $3,882,450 to retire 77,649 shares of preferred stock during the period, and after applying $842,000 of an unallocated reserve, previously set up for the purpose, to reduce the book value of certain banking premises, in addition to normal depreciation. WAR PRODUCTION President L. M. Giannini stated that the curtailed demand for ordinary civilian credit had made more funds available to finance war production. “We are continuing to carry forward our policy of unstinted support to : America’s victory program,” he said. Resources . . . $2,143,202,620.43° Deposits . . $1,958,430,526.32 .CapitaL Funps. $ 158,767,671.61 (As of June 30, 1942) Bank of America N. T. & S. A., a member of the Federal Deposit Insurance Corporation, has 495 branches united for strength and service. Nevada : MARRIED BACHELO Young and Ruth Hussey. 4 Susan Ken Murray. TUTTEES OF TAE FRIDAY AND SATURDAY Dekker. A killer on the loose. and he held a strange fascination for women. Also Juke Box Jennie with SUNDAY, MONDAY AND TUESDAY Romance aflame unde smiling Seas skies, in this glowing venture from the pens of the authors of Charles‘ Laughton, Jon'Hall and Peggy Drake have the leading roles. WEDNESDAY AND THURSDAY Marriage problems are answered in this riotous romance, starring Robert Howard, Harry Carey and Albert South screen! ad“Mutiny.on the Bounty.” KEEP— YOUR ROLLING! to > YOU WON'T BE ABLE TO BUY A NEW CAR FOR SOMETIME— —But In the Meantime— We can Grease, Paint, Repair, Give an Engine Overhaul, Reline Brakes, Mend Fenders, and help you keep it—Dick Lane’s Service. Station 180 BROAD STREET—NEVADA CITY—PHONE 525 C A R —ROLLING! “in your hour of need. HOOPER & MORTICIANS 246 South Church Street The flowers of memoryare thoughts of the beloved who has gone before. last treasured moments before darkness came. lief and consolation of services perfectly planned against a background of flowers. Music that purges the emotions of sorrow, and appointments chosen to lift the burden from those bereaved. Call on us Telephone 346 The The recarefully and_ tactfully WEAVER AMBULANCE SERVICE _ 6 Grass Valley is ; ‘ ¥ j 9 ra i a re 1. XY . : i