50 YEARS AGO THIS WEEK:

Directors of Burbank-based Lockheed Aircraft Corp. declared a 50 cents per share dividend, the company’s first stock dividend since 1946. Lockheed President Robert E. Gross said it was company policy to declare dividends from time to time, without regard to specific purposes.

THE NEWSMAKER:

Southern California Edison President William C. Mullendore was elected to the board of North American Aviation. Mullendore, a past president of the Los Angeles Chamber of Commerce, joined the board with two other L.A. business leaders Chester Rude of Security First National Bank and Alden G. Roach of Consolidated Steel Corp.

THE NUMBERS:

June 8, 1948

Dow Jones Industrial Average: 192.16

New York lead: 21.5 cents oz.

L.A. to N.Y. airline ticket: $99

Binoculars: $225