50 YEARS AGO THIS WEEK: Los Angeles led the Western United States in steel production, with local furnaces churning out 1.3 million tons Northrop Aircraft Inc. reported net income of $520,146 for its fiscal year, more than double the $240,577 the company reported for the like period a year earlier.
William G. Bonelli, chairman of the state Board of Equalization, reported that taxable sales in California hit a new peak in the 1948 fiscal year, topping out at $11.1 billion, a 12 percent jump from a year earlier. L.A. County sales, which accounted for almost 43 percent of the statewide total, jumped about 11 percent compared to 1947.
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