45 years ago this week:
Five Los Angeles banks were listed among the nation’s 300 largest Security First National Bank, California Bank, Citizens National Trust & Savings Bank, Farmers & Merchants National Bank and Union Bank & Trust Co.
Security First was the only local bank to crack the top 10 nationally. It no longer exists.
The Newsmaker:
Spencer Webb, head of Webb & Webb general contractors, was installed as president of the Southern California Chapter of Associated General Contractors during ceremonies at the Biltmore Hotel. Under Webb, the general contractors were expected to set a volume record for heavy construction, with $750 million in commercial projects already underway.
The Numbers:
Jan 26, 1953
Dow Jones Industrial Average 285.5
G.E. refrigerator $509.95
Man’s suit $68
Classical LP record, 12-inch $1.89
