This Week

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25 YEARS AGO THIS WEEK: California became the No. 1 state in manufacturing output, surpassing New York. The milestone was reached one decade after California outdistanced New York to become the nation’s most populous state.

Chatsworth-based Great Western Financial Corp., the holding company for Great Western Savings & Loan Association, reported record profits for 1972, with net earnings of $38.4 million, or $2.57 a share. Savings balances reached a record $3.4 billion. (By comparison, total deposits were $27.8 billion for the second quarter of 1997, the last time Great Western operated as an independent company before it merged with Washington Mutual.)

THE NEWSMAKER: Former Litton Industries President Roy L. Ash, newly appointed director of the federal Office of Management and Budget, was among three current and former officials with the Beverly Hills-based conglomerate who were ordered to pay $2.4 million to the estate of the late Emmett T. Steele. Steele had claimed he had not gotten his founder’s interest in the company.

THE NUMBERS:

For Jan. 19, 1973

Dow Jones Industrial Average: 1,026.

Gold, price per ounce: $64.80

1973 Toyota Corolla: $2,170.

Sony stereo system: $249

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