Valley News from Van Nuys, California • Page 192

Mfcnuty 9, If71-- on Nuys (Calif.) I North-43-A Burfctnk-41-A Local Needs Served from LA. Office George H. Bidwell, long investment clients of San Fernando Valley as manager of the Van Nuys branch of the investment banking firm of Crowell, Weedon and is now servicing local financial needs from the firm's main office in the One Wilshire Los Angeles. In March 1970, Crowell, Weedon and Co. temporarily consolidated the Van Nuys office into the Los Angeles facility until a larger and more convenient Valley location could be found, a spokesman said.

Bidwell, born and educated in California entered the brokerage business in 1937 after completing his studies in economics at UCLA. Interrupting his business life to serve in the Army Air Corps as a cryptographer, he later joined the New York Stock Exchange member firm of Crowell, Weedon and Co. in 1952 where he remained for 18 years. 1 A past president of the Van Nuys Rotary Club, BidWell also served as a board member of the Boy Scouts of America and a six-year board member of the Van Nuys Chamber of Commerce. He is an Ambassador of the Valley Presbyterian Hospital as well as a board member of the YMCA.

He has lived in Van Nuys for 20 years. For the convenience of Valley investors, Bidwell may be telephoned at Crowell, Weedon toll free a 11 ev at 271-9154. Sanford Paris Specializes In Building Industrial Sites MEMBERS of board of directors of Valley Federal Savings and Loan Association discuss records set by organization during 1970. From left seated are Joseph R. Biafora, president, and Arthur D.

Aston, chairman of board. Standing from left are directors Ferdinand Mendenhall, Harold E. White, Dr. Ralph Prator, Ralph B. Williams, Frank Modugno and senior vice president Robert E.

Gibson. Assets of organization rose to record high of $197,000.000. Deposits total $168,827,831.27. Record Year Reported by Valley Federal INVESTMENT clients from Valley are served by George H. Bidwell, now working out of Crowell, Weedon and Co.

main office. Valley Federal Savings and Loan Association can look back upon 1970 as another record year for the 46-year old locally owned and operated savings institution. "The optimism Ave had for Valley Federal's operation in the year 1970 appears to have been well founded," states Arthur D. Aston, president and chairman of the board of Valley Federal. Loans Made Assets of Valley Federal reached an all time high of more than $197,000,000.

Savings deposits of Valley Federal's 58,264 customers i ased by 816,653,174.11. This is the greatest increase in the last five years and brings the total deposits to In turn, $32,437,426.00 were loaned on 1100 prime real estate properties in the five valleys which Valley Federal serves: San Fernando, Antelope, Santa Clarita, Simi and Conejo, bringing their loan portfolio to 10.000 loans totaling $167,305,684.69. A total of $8,441,538.22 was paid in interest to a 11 ey Federal savers. This represents the largest annual amount distributed in Valley Federal's 46 years of operation. When one adds the interest paid to savers and the loan funds dispersed, it is quite evident that Valley Federal has made more than a significant contribution to the economy of the areas which they influence.

This interest figure represents nearly of Valley Federal's total earnings. Then, too, after ctions for normal business xpenses and taxes, $1,436,821.00 were deposited to Valley Federal's reserves as further protection for their depositors. Branch Opened 1970 was both an exciting and profitable ear for Valley Federal Savings a an Association. Very close investment attention was necessary due to the fluctuating interest rates and the downturn in some segments of the country's economy. This outstanding record can be directly attributed to the experience and dedication of the staff, officers and board of directors of Valley Federal Savings.

Valley Federal Savings' growth was marked by the opening of its seventh branch office in the Simi Valley in June of 1970. This move was prompted by the many people in the Simi and Conejo Valleys who were already customers of Valley Federal Savings and who were using their many services. The new Simi Valley office of Valley Federal Savings, located in the Santa Susana Shopping Center, was a logical step in carrying out Valley Federal's policy of supplying local financial sendees to local residents. In July of 1970 the Northridge office of Valley Federal Savings and Loan, located at Reseda and Nordhoff Blvds. in ridge, was completely refurbished, mak- 1932 Moving Forward To our many loyc-l friends end clients in the Volley, end throughout Southern California, we, at Croweil, Weedon, wish to express our gratitude for your continued opfi- mism ond foith in our Firm end its policies.

During the past year we have expanded our services to both individual ond institutional investors- We hove also enlarged our capacities on the Exchange floor, increased the number of our associates ond added new Branch in Ocecnside. To eoch of you, we extend our thanks, ond a worm welcome to visit us ot our One Wilshire main office or any of our Branches. You'Si find us conlinu- ing our Croweil, Weedon pledge that of helping you to ottoin your personal investment goals. COMMON AND PREFERRED STOCKS CORPORATE AND MUNICIPAL BONDS MUTUAL FUNDS UNDERWWTJNGS MERGERS AND ACQUISITIONS INSTITUTIONAL AND CORPORATE SERVICES Crowell, 'Weedon fe Co. Members New "York Slock Exchange American Sloe)-.

Exchange (Associate) Pzcilic Coas! Siock fxr.hcii'^f: One Wfehire Boulevard Los Angeles, California SOOT 7 620-1850 ing it the most complete a i gs institution in the north central area of the Valley. Confidence High "The current savings trend is excellent and there should be ample mortgage money for the communities' need and, regarding mortgage rates, Valley Federal Savings will, as always, be competitive in this market," Aston states. "We are proud of the progress made this past year. We enter 1971 with full confidence that we can sustain our growth and strength, continuing to play an even greater role in the economic life of our community." After completion of a concrete tilt-up industrial building, a second building of 135,000 square feet will be constructed on the former site of the Clarence (Fat) Jones Stables at Sherman Way and Tujunga Ave. in North Hollywood.

a Paris, the present owner and developer of the 10-acre site, announced that the first building has been leased and is now occupied by the Gem Furniture Division of Consolidated Foods Corp. Inc. Four Tenants The building which occupies 4.5 acres of M-2 a has been leased to Gem Furniture for a period of 15 years. The Gem Furniture Co. has moved into the new 5 3, 000-square-foot plant which is also owned by Paris on Desmond Pacoima.

The new foot building which will be ready for occupancy in May 1971 will occupy 5.5 acres of land. The concrete tilt-up plant was designed by John Phillip Joseph AIA, architect, and i red by Hugh Brooks and Associates of Alhambra. It is engineered so that it can be occupied by either four tenants taking a i ately 30,000 square feet or by one ten- ant utilizing the entire building. ilding offers truck high loading as well as some ground level accesses. The 20-foot clear high warehouse has 50x60- foot bays utilizing glue- laminated wood beams and a panelized plywood roof.

It will be offered on a lease basis through industrial brokers in the San Fernando Valley. Firms Located Changing vacant cattle land into modern industrial plant sites is not a new accomplishment for the Paris family. Oscar L. Paris, Sanford's father, developed the Paris Industrial Park in Pacoima on 55 acres of orange groves and cattle grazing land. Some of the companies located in the park which is adjacent to the new Metals Institute to Hold Course The Metals Engineering Institute of the American Society for Metals will present a five-da3 metal- 1 graphic interpretation course March 8 to 12 at the International Inn, Los Angeles.

Applicants for enrollment may write to the Metals Engineering Institute, American Society for Metals, Metals Park, Ohio 44073. Simi Freeway are Certified Grocers, United Parcel, Morse Electro Co. and Cummings and Sanders Division of American Safety Equipment Co. These and the other firms in the park provide several hundred jobs for members of the minority groups who live adjacent to the park. Gem Furniture's former plant is in the park.

Paris and his father have developed in the San Fernando Valley because they feel that it offers their industrial clients an unequalled labor force, low-utility rates, a comprehensive freeway system and because it is central to the growth areas of Ventura County and Lanc a er-Palmdale to the north and Orange County and San Bernardino to the south and east. After these buildings in Hollywood are leased, Paris will continue to industrial buildings in the San Fernando Valley. In agreeing with other i ial developers, Paris expressed the opinion that by bringing industrial jobs closer to where the Valley labor force resides, many traffic and smog problems will be reduced. Newly developing in- rial park concepts make industry an accepted and neighbor areas. highly valued to residential "My son chose the most expensive college!" Thank goodness a VALLEY FEDERAL SAVINGS ACCOUNT! IT'S ALWAYS YOU NEED IT! Yes, with a savings account at Valley Federal you fee! relaxed knowing that you're able to handle unexpected expenses in stride.

So open a Valley Federal savings account today and increase your feeling of security. In no time at all you will find yourself saying as so many thousands do "Thank goodness we have a Valley Federal savings account." 5.75%= 5.25%= Annual Rate Annual Per Annual Per compounded daily earns indicated yield -when maintained for ont year. VAN NUYS (BE) NORTHRIDGE CANOGAPARK SAN FERNANDO NEWHALl 6842 Van Nuys Blvd. 9055 Reseda Blvd. 21901 Sherman Way 402 So.

Brand Blvd. 24200 N. San FtmandoRd. Phone 786-7220 Phone 786-7220 Phone 786-7220 Phone 259-2200 I SAN FERNANDO VALLEY FEDERAL SAVINGS A LOAM ASSOCIATION I Branches ffcrowghouf Southern California SPAPERl UNCASTHfc 4443310th SI. West at Phone WH 8-594U947-M31 VAUEY: 2358Tapo atCochran Phone 522-0120 1N.EWSPAPEM.