Independent Press-Telegram from Long Beach, California on January 4, 1959 · Page 63
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Independent Press-Telegram from Long Beach, California · Page 63

Long Beach, California
Issue Date:
Sunday, January 4, 1959
Page 63
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. iHt Independent-Press-Telegram PARADE OF PROGRESS--.' WHERE COMMERCE, INDUSTRY MEET TM?,n!T e f~ h?r L 0r ? cene , ^^ how commerce and industry meet in world-wide trade In the foreground a freighter is unloading newsprint for the Southland publishing industries The group of building where Tl Tnr W"*^ ^ m ^ C °' P ' ant Copra from the South Pacific i s shipped to the plan? nf nik 1« · ? 2 to 01 J an * used for. soap. Storage tanks throughout the area are used for storage of oils, chemicals and rendered fats. In the distance may be seen the towers of the A d m H e t a i Bridge which elevates the bridge roadway for ships to pass underneath S CALLED MOST MODERN OF PORTS T tance Long Beach Port Offers Most Modern By LEE CRAIG Maintaining its position as America's most modern port, Long Beach Harbor c o m p l e t e d construction projects costing a total of $121/2 million during 1958, with schedules calling for an even bigger year, construction-wise, in 1959. Biggest single project finished during (he past year was Evidence of the shipping recession which hit all ports during the year is seen in profit figures compared with the preceding year. Net operating profit from port operations in 1956-57 was 5607,500, which dwindled to 54,800 the following year. Pier ~ * " I I I I . A J l l S the earth fill dumped on Ocean $6,500 last year. Blvd. in the harbor area, which port's top moneymaking pier, turned in a profit of 561,300 in 1956-57. This sank to only The port's 'net profit last . ' i. lie j-njL \. a 11CL plUlll IctSl raised that region some 20 feet year including investment into its pre-subsidence elevation come , but not i nc i uding oil reve at a cost of 51,074,787. This was completed last April. Nearly S8 million was spent during the year on the two huge bridges under construction over {he Los Angeles River Flood Control channel, the Robert R. Shoemaker Bridge, crossing the channel from Ninth St. on the west to Seventh St. on the east, and the Ocean Blvd. Bridge. THE PORT, along with others, was hit by the world-wide shipping recession as cargo tonnage dropped to 7,326,150 for the 1957-58 fiscal year, a decrease of some 19 per cent from the previous year. Estimated value of the cargo brought over the port's wharves was 5604,312,084. Of this total 5461,322,904 represented cargo shipped over municipal piers and 5142,989,180 was the value placed on shipments through private berths. Outbound cargo totaled 5,104,813 tons, compared with 2,221,337 tons brought into tho country through the Port of Long Bench. Major commodity handled at the port was petroleum and its products, which added up to 4,563,635 tons. A far distant second was newsprint, 311,142 tons, followed by steel and iron manufactures, 307,071 tons; potash, 232,691 tons; iron ore, 222,709 tons; gypsum, 204,251 tons; lumber, 122,360 tons; rock, 104,603 tons, and gravel pebbles, 97,372 tons. The port also kept its position as the Pacific Coast's cotton port by exporting 81,264 tons of the material. * * * * A TOTAL OF 1,558 SHIPS called at the harbor during the fiscal year, with American flag vessels numbering 823. Top foreign nation in number of callers was Japan, with 201, followed by Norway, 172; and Great Britain, 56. Port Busy in August The ports of Long Bc-ich ar, nearby Los Angeles showed much activity during August 3938 with 506 commercial vessels. The 2,337.758 net register tonnage of the ships is the highest recorded in one month during the 35 years of reporting by the Marine Exchange of the Los Angeles Chamber of Commerce. In July 1929 the largest number of ships was reported, 794, but the net register tonnage was only 2,136,953. By comparison, August, .1957, shows 513 ships of 2,221,981 net tons, hut Inrgcr ships in 1958 brought the tonnage to the new high. Offshore trading this August accounted for 325 ships and 3,678,946 net tons, as compared with more callers with less tonnage In 1957, 341 ships and 1,614,868 net tons. I a new transit shed on Pier replacement * in service Berths 1 and 2, Pier. A, and t new bridges. The administration buildi under construction on Pier iliould be completed by Octob at a cost of $2,682,000. T seven-story structure will e able all harbor department e. ployes to work under one ro for the first time in man years. The Pier B transit shed, .li. nearly 'all of the .port's shed vill be of clear-span constru :ion, among other modern d sign features. It should be com pleted by Aug. 30. Cost w be'$1,711,000. .' '· The Berths 1 and 2 projec nvolving raising and recoi _ truction of the 20-year-o face-lifting program, includingjtransit shed at that locatio a new administration building,'will be finished by Sept. 30. Th nue was 5762,300, whereas in 1956-57, $1,892,000 was turned in. Income from rentals last year amounted to $181,000, about the category surpassing the previous year's total. Rentals in 1956 returned $154,900. Harbor oil wells showed a net :, for the past few years the profit last year of $26,266,000 before the state received its share amounting to $13,380,000. * * * * THIS JfEAR SHOULD bring near completion of the harbor's ' f h ' C , a n d £ of . the P° rt ° f Long Beach are shown here, looking from west to east In the dis- the huge Pier A where too big extensions are now being constructed Pier B will have a bie R h f d S^ ·??" ".lTM «TMr months, and will resemble somlwhat Piei C Pie? D in the fm-eground has bulk loading facilities, includmg the giant cranes pictured. The dots in the immediate foreground are he mosfmoJern onThe coast '^ ^ ^^ PrOVid ° d °" these piers make *' P"'t o Sng Bea h DOWNTOWN LINK WITH HARBOR Construction work will be completed this summer on the big Ocean Blvd bridge crossing the Los Angeles River, shown at lower right This will be the mam link between the harbor and downtown Long Beach.'A temporary span to the right of new bridge is being used during construction. A few blocks to the left will be the giant bridge leading from Long Beach Freeway to the downtown area. Helms ... right to your door! work, to cost $2,127,330 also in eludes . wharf reconstruction and back area filling.' · * ' * » * . THE VAN CAMP SKA Food Co.'s new office building- headquarters for their worldwide operation--will be completed in a few weeks. Cos " ($534,450. Of paramonut importance to the harbor will be completion of the two magnificent'bridges which will relieve the traffic congestion which has hampered the flow of 'commerce' in and out of the" port. ! The Ninth St. · Bridge, ' renamed .'for' the late chief engineer of the harbor, Robert R. Shoemaker, will be finished by Vlarch or April, depending on he winter weather. Cost of the structure, channel piers and ramps will he about $9 milion, vith property acquisition an idditional one and a half mil- ion. The Ocean Blvd. Bridge will e completed by early summer, ts cost will be about $6 million or the structure, piers and amps, with property acquired or the purpose costing 52,337,' '00 more. CENTER FOR IMPORTED CARS Scenes ^like this have become common in Long Beach Harbor with shiploads of foreign-made motor cars arriving. Here a derrick is unloading two of the Cell's 3-t OnCG. · COAST FEDERAL SAVINGS AND LOAN ASSOCIATION FINANCIAL STATEMENT DECEMBER 31, 1958 Cash ana Government Securiiies _ $ 9 3 , 2 6 2 , 0 1 6 . 1 5 Gl Government Guaranteed and FHA Loans 29,628,212.50 Coast Federal Home Loans 186,767,640.70 Ownership in Federal Home Loan Bank.... 4,034,500,00 Other Assets · 2,433 242 98 TOTAL ASSETS } 3 I 6 , I 2 S , 6 I 2 . 3 3 LIABILITIES AND RESERVES =ounts $ 2 7 1 om Federal Homo Loan Bnnle and Other Sources...: 13,022,608.67 Loam m Process and Other Liabilities 2,650 147.79 Savingi Account! $271,503,223.40 Advances from Federal Homo Loan Bnnk SUB-TOTAL $287,175,979.86 Rtierves and Surplus 2 8 , 9 4 9 6 3 2 4 7 TOTAL LIABILITIES AND RESERVES.. 3 1 6 , 1 2 5 6 1 2 . 3 3 4% Per Annum--Four Times a Year on Request 9-1-72- SERVING THE LONG BEACH AREA 237 EaSt ISt St. Rich Mathers, Manager HEilllock 5-5321 M3,n Office: m HiM. los . Offices «» ,,, Civic Center (Los An 8 e,«,. Panama City. San Pedro COAST FEDERAL SAVINGS JOE CRAILt PRESIDENT

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