Advertisement
California

From the Archives: The $6-million secretary

Aug. 9, 1943: Joyce Davis holds Victory Bond notes
Aug. 9, 1943: Joyce Davis, secretary to Los Angeles City Treasurer Clifford Steele, holds six $1 million Victory Bonds.
(Los Angeles Times)

During a World War II Victory Bond drive, the city of Los Angeles purchased $6 million in bonds using already approved construction project funds. The war halted civic construction projects.

A Los Angeles Times story explained:

Miss Joyce Davis is more than a girl with a million.

She is a girl with $6,000,000 right in her hands.

Advertisement

The real low-down on it is that she is the secretary to Clifford K. Steele, who is Treasurer for the city of Los Angeles. The six notes – for $1,000,000 each – represent money invested by the city in Victory Bonds purchased in the recent drive to raise $40,000,000 locally to finance building the cruiser Los Angeles.

It was money earmarked for projects that can’t be commenced until after the war and now we’ll get $180,000 interest on the notes in the next three years,” explained Treasurer Steele.

::

This unpublished 4-inch-by-5-inch negative was found mixed in with some 1943 negatives of Frank Sinatra. After a little research, I found the published story and a different image, from the same shoot, of Davis holding all six notes.

Advertisement

This post originally was published on July 26, 2011.


Newsletter
The stories shaping California

Get up to speed with our Essential California newsletter, sent six days a week.

You may occasionally receive promotional content from the Los Angeles Times.
Advertisement