Independent from Long Beach, California on January 23, 1975 · Page 86
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Independent from Long Beach, California · Page 86

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Long Beach, California
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Thursday, January 23, 1975
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Page 86
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RSSSSim LpngttooS P-21 M,P-5M, Bank America Corp. set new earnings highs in '74 SAN JRANCISCO (BW) - BankAmerica Corp. set new highs m earnings, deposits and resources in 1974, President A. W. Clausen reported this week. , Consolidated, income before securities transactions rose 17 per cent to $256,652,000, or $3.72 per share, for the 12 months ended Dec. 31. This compared with $219.16 million, or $3.18 per share, in 1973, Clausen said. Consolidated income before securities transactions for the fourth quarter increased 16 per cent to $75,442,000, or $1.09 per share, up from $64,773,000, or 94 cents per share, for the like quarter in 1973. ; . : Clausen noted the improved overall results of both domestic and international activities accounted for the earnings increase. He said earnings stability was achieved against a backdrop of widely mixed economic conditions because of .a stable and diversified loan base. ' . . . \ ^ NET INCOME OF BankAmerica, Corp. (or 1974, after a net loss on securities transactions of $46,000 for the year, rose 15.9 per cent to $256,606,000, or $3.72 per share, from $221,074,000, or $3.21 per share, in 1973. Net income for the fourth 'quarter totaled $75,071,000, or $1.09 per share, up 16 per cent from $64,995,000, or 94 dents per share, in 1973. Clausen said the increase in earnings was achieved after significantly higher transfers to increase the reserve for possible loan losses. He said BankAmerica's consolidated provision for possible loan losses would, have totaled $70.92 million had the corporation computed it solely on the basis of the five-year moving average methro. This total would have exceeded net write-offs for 1974 by $1,422,000. Clausen noted, however, that in light of present domestic and international economic conditions and substantial growth of the loan portfolio, the provision was increased by an additional $35 million, charged to fourth quarter earnings. The total .provision for 1974 charged to earnings amounted to $105.92 million, compared with $53,761,000 in 1973. . . V - . . · · , ; · Actual net loan write-offs in 1974 totaled $69,498,000, including $20,226,000,in the fourth quarter.'Net write- offs totaled $66,348,000 in 1973. · . . : · . . . DEPOSITS AT, Dec. 31' totaled $50,662,777,000, an increase of 22.2 per cent from the year-ago total of $41,453,816,000. Loans rose 25.9 per cent to $31,293,450,000 from $24,855,552,000 a year earlier. Consolidated resources increased 22.2 per cent to $60,376,458,000 from $49,404,764,000 the previous year. Investments in securities totaled $7,575,707,000. Dividends totaling $96,531,000 were paid during the: year. The current annual rate is $1.48 per share. · Total shareowners equity, capital notes arm rC'. serves for possible loan losses totaled $2,440,604,000,; compared with $2,224,503,000 a year ago. Boars choose civilization K R I V A RIJEKA, Yugoslavia. W --'· Milos,Stupar, 45; has four boars in his big sty that have comp l e t e l y a c c e p t e d t h e regime imposed on them. Milos says they have no desire to return to hazards of forest life. They joined his own pigs in the forest while still young and never left them. : However, e v e r y f a l l , , when acorns fall off trees, the boars stay in the forest for three days and t h e n return to "civilization." Milos says. Machine boosts coma aid By ED STATTMANN INDIANAPOLIS, Ind. (UPI) -- Researchers h a v e developed an automatic device that can help doctors pull a patient out of a diabetic coma in a fraction of the time it now takes. The machine, called an artificial endocrine pancreas, will be produced commercially by Miles Laboratories' Life Sciences Department, . Elkhart, Ind. First sales. will be to research institutions to develop experience for eventual sales to hospitals. In all of us, the pancreas gland secretes insulin to'Vfegulate'blood sugar level In diabetics it malfunctions and they can . go into a'dangerous coma if the amount of sugar in the blood'is excessive, a condition":called hyperglycemia.. By .'''conventional methods it may take 10 hours or more of carefully injecting insulin to lower the blood sugar level and bring a patient out of a coma, according to Anton H. Clemens, head of the d e p a r t m e n t , in a telephone interview.'" ."With .this automatic, device it takes one-and-ah a l f to . two hours," Clemens, said. He emphasized that the Miles' team didn't work alone, but leaned heavily on others' research that detailed mathematically the responses of the normal pancreas. THE DEVICE includes a small computer, blood sugar analyzer and precise dosage injection system. Slated for production next spring, it already has been used on more than a dozen patients in diabetic coma, Clemens said. He said it also can be used when blood sugar level is hard to .control because a diabetic is undergoing labor or using a kidney dialysis machine. He said the device has kept a diabetic mother's blood sugar level normal through a caesarian birth. Clemens said the machine's instant response is vital, because it is believed m o m e n t a r y blood sugar excesses often can build up eventually to secondary effects of diabetes such as blood vessel deterioration, blindness and kidney disease. . "The normal pancreas is able to sense ah increase in blood sugar immediately when it takes place, even in the normal range, and an initial insulin spike is released," preventing the sugar level f r o m getting too high, Clemens said. He said the machine duplicates t h i s action and has proved the human pancreas does act instantly and in proportion to the need. There have been efforts to create a tiny gadget that will do for diabetics what a pacemaker does for heart patients. But Clemens said the day when a diabetic can carry around a tiny, implanted computer and pump to do w h a t t h c ' M i l c s device does, still-is far off. He said'Hc'believes such an implanr'Would'havc to have » direct- bloodstream connection, not just tissue contact. In his opinion, a tissue implant would be u n a b l e ' to. provide the necessary i n s t a n t response. 10 FT.x 10 FT. SUSPENDED CEILING Have a beautiful suspended ceiling in less than 1 hour. 10 ft.x 10ft. ceiling consists of: % Owens Corning Panels 10 ft Wall Angles 2 ft. Cross Trees 4' ft. Cross Trees 12 ft. Main Runners 100SQ. FT SECTION PINE SHELVING · Surfaced four sides. · Random lengths · Ideal for storage shelves # 2 NON PATENT ROSES NEW SUPER VITAMIN B-l Stop transplant shock' Beneficial to bedding plants, rooted cuttings, bareroot roses or large trees. · Large varieties to choose from 4 ft.x 8 ft. sheets. First quality For all around home, garage or shop use. a Sturdy, hot dipped Galvanized Link.' · Accessories available at ANGELS low, low, prices. 15" PRUNING SAW DOGEARED FENCEBOARD Bushman group teeth, giving a very clean and smooth cut. Tubular Steel handle Long handle, extension poles available at Angels ' low.low prices! OUR REG. 4.99 · Rough cedar fence boards for that rustic looking fence. · Fencing accessories available at ANGEL LOW, LOW PRICES. U U R R E G . GARAGE DOOR SPRINGS Heavy duty quality All sizes...regular bike tubes. 28" length ...1 5/16" thick. Heavy duty construction. Accessories available at ANGELS low, low, prices. B RICE PFISTER" 4" BATHROOM FAUCET ELECTRIC HEATER 19" TOOL BOX Triple chrome plated. Drilled for pop up assembly available. . ,, · Heavy gauge steel construction · Sturdy hasp and lock, tote tray with steel handle. 1320 watts- powerful, lightweight heater. Easy to carry, OUR REG. 9.99 N0.43111CENTER SET with POP-UPld.97 4 FT. FLUORESCENT ANGELS VINYL LATEX WALL PAINT FLUIDMASTER BALLCOCK DUAL OIL FILTERS Outer filter, inner filter patented double flow system. Double cleans Instant positive shut-off operates perfectly with high or low water pressure. · For dens, walls, etc. · Dries rapidly... odorless. · Available in 7 colors. your oil...longer life between changes. TURF DOOR MAT OUR REG. 3.99 , JAN. 26,1975 N 0 . 4 1 J / 1 3 / 1 4 _ PRICES EFFECTIVE THURSDAY, JAN. 23 THRU SUNDAY HUNTIN6TON BEACH 7800 EDINGER ONE BLOCK W. OF BEACH BLVD. LONG BEACH 2317 E. SOUTH ST. NEAR CHERRY AND SOUTH NORWALK FIRESTONE BLVD. at STUDEBAKER JUST EAST OF 605 FREEWAY : «H iUNMDIKO 381 01ANGE SHOW ID KTWIIH SO ! St. AND AlfOWHUO M.iT.vauttiu firm ' i OIIMN OtOVI · IIWKBAfMAN AVt. JUSIIUl Of HANOI UVD. i MMONH M HO. MMI MAI HOtl AND MUS and 7 other stores in Northern California

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