Newspaper Archive of
The Catalina Islander
Avalon, California
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July 14, 1938     The Catalina Islander
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July 14, 1938
 

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PAGE FOUR MONTHLY SUMMARY OF BUSINESS CONDITIONS An improvement in business senti- ment an(l the appearance of several de~elopments that in the past have frequently marked the turn 'of the business tide are described 'in the Monthly 5unnnary of Business Condi- tions for June, issued by tile Research Department of Security-First National .Bank. The most publicized occurrence of recent weel~s was tne spectacular rise in; c~,mmon stock prices amounting to 20 per cent in ten trading days, ac- cdrmng to a representative index of 65 issues. It is noteworthy that commodity prices turned upward considerably be- fore stock quotations. Moody's index of 15 basic commodities has advanced consistently since June 1, when it stood at 130.1; by June 30 it had reached 141.1. It is probable that current expecta- tions ot recovery are due more to the readjustments taking place within business and industry than to pros- pects for renewed Federal support via u,e spending route. In view of the signs of recovery within the business field, it is now en- tirely possible that the planned expan- stun o~ ~'ederal spending will become effective-well after general revival is in progress. Department store sales in down- town Los Angeles were approximately 11 per cent smaller in June, 1938, than a year previous. The volume of industrial production showed little change in June from the previous month. Building activity in Southern Cali- forma was considerable lower in June than in May even after adjusting for the normal decline between the two months. Applications for F. H. A. insured loans continue to be received by local banks in large volume. During June 2,364 applicatmns were received as compared with 2,447 for May. Tile general agricultural outlook is more encouraging than was the case a month ago. According to the United States" De- partment of Agriculture, cash income of California farmers during the first four months of the year totaled $123: ~J6,t,~) or 19 per cent less than for the same period in 1937. Early forecasts of production for most crops are con- siderably lower than last year. This is particularly true for apricots and cling peaches. Vineyards throughout Southern California are in excellent condition, and although official production esti- mates have not beem published as yet, it seems likely that output of raisin, wine, and table grapes will approxi- mate the near record levels of last year. ..... o-- STATE FAIR NEWS New artistry, new plans and new motifs are being written into every phase of new county exhibits under construction at the California State Fair i. order that they will reflect California's unprecedented yearly ag- ricultm'al ' income of approximately $750,000,000. A speed-up of the fair organization has been ordered by Secretary-Mana- ger Robert Muckler to insure, comple- tion of the Board's largest program for the 84th annual exposition at Sac- ramento, September 2 thru 11. Livest~wk, poultry, farm machinery and dairv products are divisions of the Califo-n~ a~-icn!tural exposition, but : t ~ '~":I ~S sep:tratc Shows. Each one c,2 ~h:sc dep:~:'*ments soon will announce programs for the 10 day af- fair. --------o-------- "Fechtin' again, ye wicked lad?"" "Aye, an' I'll be at him again if he keeps on saying I wear a kilt because my feet are ower big to get into troo- sers."--Passing Show. Insurance and Annuities .~ I EDDIE JONES I .~ Los Angeles -- Avalon, Tel. 500 Complete Set of Historical.~ Booklets Free t POLITICAL PARADE By Clem Whitaker How nmch do you owe--the day after election ? If you happen to be a candidate with a campaign deficit, the amount may be considerable. If you bet on elctions and guess wrong, the result may be worse than a day at the races, or a night at the poker table. "But you can avoid all these vices and hazards and still end up with I.O.U.'s scattered all over the coun- tryside ands mortgage on the home- stead. After nearly every election, accord- ing to the California Taxpayers Asso- ciation, there's a financial hangover of new bonds voted and new debts con- tracted. And California's total bond- ed indebtedness, including its six per cent share of the federal debt, has now reached a staggering aggregate of $3,661,000,000 ! Here are the latest figures, as the Taxpayers Association reports them: California Public Debt State Bonds ...................... $ 191,000,000 County Bonds .................... 40,000,000 City Bonds ........................ 490,000,000 School District Bonds .... 205,000,000 Special District Bonds .... 385,000,000 Irrigation District Bonds 90,000,000 Reclamation District Bonds ................................ 30,000,000 Direct Special Assess- ment Bonds ...." ............... 20,000,D00 California Share Federal Debt (6 per cent) ........ 2,237,000,000 Total Bonded Indebt- edness .............................. $3,661,000,000 Prodigal taxpayers who spend their money in riotous voting seldom under- stand millions or billions, according to the experts--which may explain why they vote them with such alacrity,! But even that fault can be correct- ed. There are 900,000 common prop- erty taxpayers in California, whose properties must stand back of all bonds and other forms of public in- debtedness as security for the borrow- ings. Reduced to the lowest possible com- mon denominator, California's debt of $3,661,000,000 amounts to a mortgage of approximately $4,067 on the prop- erty of every common property tax- payer in the state. And taxpayers will face a new try- out at the polls in November. There will be sundry new spending pro- posals on the ballot, including the Garrison Bond Act, which would ab- rogate the two-thirds vote require- THE CATALINA ment for revenue bonds and permit the issuance of such obligations by a bare majority. How much will you owe--the day after election? That depends. How are you voting? O FIRE PERMITS REQUIRED IN NATIONAL FORESTS Permits are required to build camp- fires in all national forests, advises the outing bureau of the Automobile Club of Southern California. They may be secured without charge through vari- ous agencies including all offices of the automobile club. Issued for the calen- dar year, they are good only, in na- tional forests, not in national or state parks or on private lands. Even fires in trailer stoves come under the classification of campfires and require a permit. Each person receiving a permit must sign an agreement to abide by the following rules: To carry a shovel and ax of speci- fied dimensions for each automobile or pack train when camping in national forest. To clear a space at least ten feet in diameter of all leaves, needles and trash before starting the fire. To attend it at all times and to ex- smoking except in camps, habitation or special .post~ areas and then to ing matches, cigarettes, lfipe heels before away. To extinguish all small ered, or if too large promptly to the nearest CHRISTIAN SCIENCE Semi-annual Communion were conducted on tian Science Society of , rament" was the subjec .son-Sermon and the from Paul's first letter to thians: "Let us keep the..i with old leaven, neither ww en of malice and wickedneSS the unleavened bread of truth." Among the Bible Lesson-Sermon were these Jesus, from Mark: "Go ye world, and preach the creature... And these follow them that believe; shall they cast out devils: speak with new tongue~ take up serpents; and any deadly thing, it tinguish completely all open fires with them; they shall lay water and to leave fires in closed and they shall recover." stoves on improved camp grounds in such condition that the fire cannot escape. To maintain a clean, sanitary camp, burning or burying all refuse or dis- posing of it in provided receptacles. Not to build fires on national forest lands which are closed to camping or to building of fires. Not to smoke on lands closed to A correlative pass~ Christian Science and Health with Key tures" by Mary Baker the statement: "It is is the duty and child, man, and woman,~" some degree the exam ter by the and Life, of health and ARNSWORTH'S EXCLUSIVE, ,f TYLE SHOP TYPICAL CATALINA SPORTSWEAR E KGLUSIVE BUT NOT EXPENSIV Phone 136 301 Crescent Ave., on the New Merchandise Friendly Service ATWATER ARCADE Reasonable PHONE I [ I I 1 I I 9 0 R.