December 30, 1969 (8 pages)

f/ q ? We BS Bo aamese a. ae Bee af “paper of general circu Ca 2 the Nevada"County Nugget Role of gold continues oA SAN FRANCISCO — At this stage in international monetary reform, the gradual phasing out of the dollar as the world's official reserve currency "cotld produce several benefits,"" Bank of America suggested Monday in a report on gold, < Gold is already on the way out and will be "unimportant" in the student officers “ROCKLIN — Leonard Muir of Roseville was elected president of the Sterra College student bod, Friday during what was regarded as one of the best voter turn-outs in the history of Electéd as the new student body vice president was Jim “Upon being notified of his victory, the president-elect de-out at the polls, This shows the students at Sierra do care how their govern“ment is run. With such support as shown by the students, I hope to have a productive and rewarding term in office," Results of other races were: Secretary, Susan Akers; social commissioner, Glenn Berg; sophomore women's representative, Barbara Schafble: sophomore men's representative, George: Magnuson; freshmen's men representative, Al Litterell; men's athletic commissioner’ Vern Davis; women's athletic commissioner, Shelia Rosamond, The only student office not up for grabs was student body treasurer, Matfv Talso was elected for the entire year. the entire year. [NEVADA COUNTY PUBLISHED EVERY WEDNESDAY BY NEVADA COUNTY PUBLISHING CO, 301 Broad Street, Novag oor Ca, 95 Telephone 265-2471 = Second class postage paid at Nevada City, California. Adjudicated a legal newslation by the Nevada County Superior Court, No; 12, 406. , Subscription Rates; dhe year, $3,00; two years, $5, 00. “the bank, because this status ‘feelings at home and. abroad. Tuesday, December 30, 1969 iminish says bank . global money system within 20 years, the bank predicts, Meanwhile the dollar continues in a dual role asthe trading and reserve.currency, says the report, but the new special drawing rights andallied 7 measures “can be expected to 7 take over the reserve currency burden of the dollar gradually.” Relieving the dollar from its role as the_reserve currency could be beneficial, accordingto restricts the U. S, in its economic policy actions and "needlessly" arouses nationalistic "it may also pe questioned if it has any strong discipline on curbing inflation,: which is, after all, primarily.a matter of national policy,” the . bank adds. ‘ The report, to be issued later this week, mentions several rea7% sons why the role as well as the . price of gold is diminishing. * Among them are the dollar's greater flexibility and universal acceptability, the limited production of gold, the creation of SDR's, and the Rae ow " of agreement on increased flexibility in foreign exchange rates, Moreover, the "psychological aura" of gold is fading, the bank asserts. Noting that the domestic removal’ of gold backing of the dollar caused hardly a ripple in the U. S., the bank states that gold producers, some central bankers, and few gold specialists “have been more firmly wedded" to gold than the public, Concerning prospects for gold prices, the report ventures that without support from central banks or the International Monetary fund, the private price "undoubtedly"’. would at times trade below $35 an ounce in the period ahead, Industrial and artistic demands for gold will probably surpass production over the next 10° years, the bank forecasts, But as monetary emphasis declines and private uses increase, rising free market prices could encourage production or official gold stocks could.be released gradually for private use. The need for additional official actions must be carefully evaluated in order to develop a viable international monetary system capable of evolving with world economic changes, — Rose reports bond sales Nevada -County Savings Bonds Chairman Willard J. Rose today said’ President Nixon's recent approval of the 5 per cent interest rate for U. S. Savings Bonds will increse sales, as he revealed the dollar volume for the past eleven months in California amounts to $333,586,399, For this county the figure is $254,558, For November of this year, California sales of U. S. Savings Bonds amounted to $27,523,531. Nevada county's sales of U. S, Savings Bonds for November of this year were $12,360, Former NC Christmas tree relates history There are many who rememmanager of the Nevada County ber Nevada City's’ first living: Narrow Gauge Railroad, tended Christmas tree which sparkled through on cold December nights. not so long.ago. There are those who were. present on a March day in 1965. when the Sequoia Gigantea, planted in 1865, yielded its: on Sacramento Street-to.a : ern freeway. Because of all of these people, the California Division of Forestry has preserved for future generations a section of the tree trunk, and it is displayed at. CDF's Nevada City -headquarters. Nature. engraved rings in the tree trunk -one ring for each . year of its 100-year life span. Through these rings Loel Polley, a forestry foreman, has traced events important to the Golden Empire, the nation, and the world. Elza Kilroy, other historians, and Thompson and West's History of Nevada county have earned credit lines for an assist with the project. The CDF gift will not be wrapped in bright tissue and gay ribbons -nor will a myriad of lights gleam from the bitof redwood as they did from the once proud tree. However it sheds warmth for those who dwell in nostalgia land and is there totell Lusty cries of "timber" were absent when the giant was felled in 1965, but sounds of a chain saw were heard, People came early to the tree falling -and they stayed late. Many left quietly with bits of bark and wood as mementos, "J helped Max Solaro put the first lights on that tree," Kilroy was quoted as saying. Mrs. Elizabeth Mills brought the tree from the Redwood Forest and planted it in 1865. Charles Loughridge, a one-time ee ees \ it in its youth: _ ‘The late Max Solaro and Kilroy did put the first lights on the tree more than 30 yearsago. Ralph Childers and Kilroy main: tained the 350 lights for 10 years “preceding its demise --.andthey were the ones who removed the lights. before the doomed tree. felt the bite of the chain saw. tree tells a story . years. : The» .Nevada City g 100 Theater opened Sept. 9, 1865, the same the Civil: War was over, . « In 186%:.the Iaho-Maryland Mine work started, and in 1870 Grass Valley was re-incorporated. The first long distance. telephone from French Corral to the Malakoff came in 1878, and the same year Nevada City. was re-incorporated, A terse note dated 1880 reads, "Nevada City burned down for the fifth time since 1849," In 1884, the Sawyer Decision ended hydraulic mining, and five years later the ‘ SpanishAmerican War was declared, Electric lights came to Nevada City in 1892, President McKinley was assassinated Feb. 23, 1901, Gilmore Field, the oldest airfield on the west coast, came into being in 1907. It is now the site of Gilmore School. Wars are recorded too, In 1914 World War I was declared, and in 1918 ended, Inj94i WorldWar Il was declared, by 1945 it had ended. The Korean Conflict started June 25, 1950, "The. Great Depression" hit in 1929. In 1956 the Empire Mine shut down after 100 years of operation, near the — the city. THIS SECTION of a tree trunk from a Sequola Gigantea bears 100 rings -one for each year of its life. The section is from Nevada City's former Christmas tree and is located at the California Division of Forestry headquarters in Nevada © City. Loel Polley, right, related 100 years of history to the tree's rings. He and Elza Swift, daughters of a CDF employe, a “history lesson." Sewer job. may begin in spring . The: construction. of the Hills Flat sewer lines and the improvements to the Grass Valley sewage treatment . plant may begin in spring of 1970, The Grass Valley City Council at their regular meeting Tuesday authorized City Engineer Tom Leland to procéed with plans to call for bids on these projects. The tentative date for opening the bids is Feb. 10, . -— Leland told the council the . engineer's estimate for the Hills Flat construction is $53,000. Improvements to the treatment — are estimated at $180,° EDA grants have been approved for these projects. Leland said information from EDA concerning wages isthe only item holding up the complete approval of these projects, and this information is expected shortly. ._.On another matter, Leland presented preliminary. plans for a new firehouse for the city of Grass Valley. The location is on the. Litton prope on Shaw's Hill, The plans will be taken to the fire delegates for approval before further action is taken by ee ee ee éLLL LLAEALA ALE AMEE 9 SF

f/ q ? We BS Bo aamese a. ae Bee af “paper of general circu Ca 2 the Nevada"County Nugget Role of gold continues oA SAN FRANCISCO — At this stage in international monetary reform, the gradual phasing out of the dollar as the world's official reserve currency "cotld produce several benefits,"" Bank of America suggested Monday in a report on gold, < Gold is already on the way out and will be "unimportant" in the student officers “ROCKLIN — Leonard Muir of Roseville was elected president of the Sterra College student bod, Friday during what was regarded as one of the best voter turn-outs in the history of Electéd as the new student body vice president was Jim “Upon being notified of his victory, the president-elect de-out at the polls, This shows the students at Sierra do care how their govern“ment is run. With such support as shown by the students, I hope to have a productive and rewarding term in office," Results of other races were: Secretary, Susan Akers; social commissioner, Glenn Berg; sophomore women's representative, Barbara Schafble: sophomore men's representative, George: Magnuson; freshmen's men representative, Al Litterell; men's athletic commissioner’ Vern Davis; women's athletic commissioner, Shelia Rosamond, The only student office not up for grabs was student body treasurer, Matfv Talso was elected for the entire year. the entire year. [NEVADA COUNTY PUBLISHED EVERY WEDNESDAY BY NEVADA COUNTY PUBLISHING CO, 301 Broad Street, Novag oor Ca, 95 Telephone 265-2471 = Second class postage paid at Nevada City, California. Adjudicated a legal newslation by the Nevada County Superior Court, No; 12, 406. , Subscription Rates; dhe year, $3,00; two years, $5, 00. “the bank, because this status ‘feelings at home and. abroad. Tuesday, December 30, 1969 iminish says bank . global money system within 20 years, the bank predicts, Meanwhile the dollar continues in a dual role asthe trading and reserve.currency, says the report, but the new special drawing rights andallied 7 measures “can be expected to 7 take over the reserve currency burden of the dollar gradually.” Relieving the dollar from its role as the_reserve currency could be beneficial, accordingto restricts the U. S, in its economic policy actions and "needlessly" arouses nationalistic "it may also pe questioned if it has any strong discipline on curbing inflation,: which is, after all, primarily.a matter of national policy,” the . bank adds. ‘ The report, to be issued later this week, mentions several rea7% sons why the role as well as the . price of gold is diminishing. * Among them are the dollar's greater flexibility and universal acceptability, the limited production of gold, the creation of SDR's, and the Rae ow " of agreement on increased flexibility in foreign exchange rates, Moreover, the "psychological aura" of gold is fading, the bank asserts. Noting that the domestic removal’ of gold backing of the dollar caused hardly a ripple in the U. S., the bank states that gold producers, some central bankers, and few gold specialists “have been more firmly wedded" to gold than the public, Concerning prospects for gold prices, the report ventures that without support from central banks or the International Monetary fund, the private price "undoubtedly"’. would at times trade below $35 an ounce in the period ahead, Industrial and artistic demands for gold will probably surpass production over the next 10° years, the bank forecasts, But as monetary emphasis declines and private uses increase, rising free market prices could encourage production or official gold stocks could.be released gradually for private use. The need for additional official actions must be carefully evaluated in order to develop a viable international monetary system capable of evolving with world economic changes, — Rose reports bond sales Nevada -County Savings Bonds Chairman Willard J. Rose today said’ President Nixon's recent approval of the 5 per cent interest rate for U. S. Savings Bonds will increse sales, as he revealed the dollar volume for the past eleven months in California amounts to $333,586,399, For this county the figure is $254,558, For November of this year, California sales of U. S. Savings Bonds amounted to $27,523,531. Nevada county's sales of U. S, Savings Bonds for November of

this year were $12,360, Former NC Christmas tree relates history There are many who rememmanager of the Nevada County ber Nevada City's’ first living: Narrow Gauge Railroad, tended Christmas tree which sparkled through on cold December nights. not so long.ago. There are those who were. present on a March day in 1965. when the Sequoia Gigantea, planted in 1865, yielded its: on Sacramento Street-to.a : ern freeway. Because of all of these people, the California Division of Forestry has preserved for future generations a section of the tree trunk, and it is displayed at. CDF's Nevada City -headquarters. Nature. engraved rings in the tree trunk -one ring for each . year of its 100-year life span. Through these rings Loel Polley, a forestry foreman, has traced events important to the Golden Empire, the nation, and the world. Elza Kilroy, other historians, and Thompson and West's History of Nevada county have earned credit lines for an assist with the project. The CDF gift will not be wrapped in bright tissue and gay ribbons -nor will a myriad of lights gleam from the bitof redwood as they did from the once proud tree. However it sheds warmth for those who dwell in nostalgia land and is there totell Lusty cries of "timber" were absent when the giant was felled in 1965, but sounds of a chain saw were heard, People came early to the tree falling -and they stayed late. Many left quietly with bits of bark and wood as mementos, "J helped Max Solaro put the first lights on that tree," Kilroy was quoted as saying. Mrs. Elizabeth Mills brought the tree from the Redwood Forest and planted it in 1865. Charles Loughridge, a one-time ee ees \ it in its youth: _ ‘The late Max Solaro and Kilroy did put the first lights on the tree more than 30 yearsago. Ralph Childers and Kilroy main: tained the 350 lights for 10 years “preceding its demise --.andthey were the ones who removed the lights. before the doomed tree. felt the bite of the chain saw. tree tells a story . years. : The» .Nevada City g 100 Theater opened Sept. 9, 1865, the same the Civil: War was over, . « In 186%:.the Iaho-Maryland Mine work started, and in 1870 Grass Valley was re-incorporated. The first long distance. telephone from French Corral to the Malakoff came in 1878, and the same year Nevada City. was re-incorporated, A terse note dated 1880 reads, "Nevada City burned down for the fifth time since 1849," In 1884, the Sawyer Decision ended hydraulic mining, and five years later the ‘ SpanishAmerican War was declared, Electric lights came to Nevada City in 1892, President McKinley was assassinated Feb. 23, 1901, Gilmore Field, the oldest airfield on the west coast, came into being in 1907. It is now the site of Gilmore School. Wars are recorded too, In 1914 World War I was declared, and in 1918 ended, Inj94i WorldWar Il was declared, by 1945 it had ended. The Korean Conflict started June 25, 1950, "The. Great Depression" hit in 1929. In 1956 the Empire Mine shut down after 100 years of operation, near the — the city. THIS SECTION of a tree trunk from a Sequola Gigantea bears 100 rings -one for each year of its life. The section is from Nevada City's former Christmas tree and is located at the California Division of Forestry headquarters in Nevada © City. Loel Polley, right, related 100 years of history to the tree's rings. He and Elza Swift, daughters of a CDF employe, a “history lesson." Sewer job. may begin in spring . The: construction. of the Hills Flat sewer lines and the improvements to the Grass Valley sewage treatment . plant may begin in spring of 1970, The Grass Valley City Council at their regular meeting Tuesday authorized City Engineer Tom Leland to procéed with plans to call for bids on these projects. The tentative date for opening the bids is Feb. 10, . -— Leland told the council the . engineer's estimate for the Hills Flat construction is $53,000. Improvements to the treatment — are estimated at $180,° EDA grants have been approved for these projects. Leland said information from EDA concerning wages isthe only item holding up the complete approval of these projects, and this information is expected shortly. ._.On another matter, Leland presented preliminary. plans for a new firehouse for the city of Grass Valley. The location is on the. Litton prope on Shaw's Hill, The plans will be taken to the fire delegates for approval before further action is taken by ee ee ee éLLL LLAEALA ALE AMEE 9 SF