Economy

Even though the rural economy has deteriorated, the ability of Auburn and Nemaha County to keep from slipping even farther into decay can no doubt be attributed to a couple of things. One is the local promotion of industry. Auburn is the home to three major factories and several smaller industrial businesses. Another factor is consistent elected leadership which has encouraged up to date municipal facilities and affordable housing.

While folks over age 50 can remember nickel coffee, it can be instructive for younger people to see what inflation has done to prices over the past 40 years. An ad in the 1958 edition of the Auburn Press Tribune touted pork roast at 39 cents per pound, ground beef at 49 cents, oranges at two pounds for 25 cents, cauliflower for 19 cents per pound and yams at two pounds for 19 cents.

In 1961, Sunday dinner at the Auburn Hotel was $1.20 for a half fried chicken. For the more affluent, turkey or ham was $1.50 a plate. In 1964, the chicken dinner during the week was on special for 75 cents. By 1978, at Wheeler Inn (a more up scale eating establishment) the Thursday night special was $2.75. It went to $2.95 shortly thereafter and by June in the same year it was $3.25 as inflation began to rear its ugly head. The price stayed at $4.75 for a long time, went to $5.25 and continued up to its present figure of $8.95 ($12.95 for certain entrees).

In 1962 you could buy a new Chevrolet Bel-Air six cylinder for $2,250. The V-8 version went for $2,580.

First class postage went to six cents in 1967, which was double the price it had been for many years, but far under the 37 cent stamp of 2003.

The local financial scene mirrored the national economy. Carson National Bank noted their assets in 1919 were $518,369.9l. By 1969, their 50th anniversary, the assets totaled $5,366,076, more than ten times their initial figure.

Neither of the local banks offered interest on checking accounts until competition forced the issue. Even passbook savings brought only two or three per cent. In 1960 a savings by mail offer from American Thrift in Omaha offered four per cent. In 1968 both Carson and Auburn State were promoting certificates of deposit at five per cent. But by 1981 a six month money market account at Auburn State was being offered at 14.68% annual yield. About the same time an Otoe County bank was paying 17.5% for Individual Retirement Accounts in an effort to get into that new government program. The pendulum began to swing and by the turn of the century interest was back down to the four per cent range for CDs and two per cent on passbook savings.

Discovery of minerals in the county brought the hope of prosperity but nothing every materialized in this area.

In 1970 deposits of gypsum were found in the western part of Nemaha County by the University of Nebraska. After the initial announcement no other mention was found in any of the newspapers researched for this piece. Apparently the cost of mining exceeded the prospective return.

Since a producing oil field has existed in neighboring Richardson County for some years, it was not surprising to find interest in the adjacent county. In 1972 test drilling produced dry holes. In 1982 digital testing with instruments, instead of drilling holes, apparently discovered some possibilities. At any rate in 1984 Coastal Oil and Gas of Denver, Colorado, filed papers in the county indicating the intent to drill test wells. Nothing came of any of these ventures and some of the wellheads can still be found on farmsteads in the county.

Energy use also followed national trends. In 1960 the gas company was promoting the use of yard lights (obviously in an effort to increase sales of natural gas). But as the so called energy crisis emerged in the early 1980s the utility took a 180 degree turn and shut off gas to the outdoor lamps as a means of conservation.

Solar energy began to be a big item in the 1980s also. Rooftop panels began to pop up around the county. The use of wood stoves also was popular. Once the price of oil started to rise, however, oil companies around the world began to discover great quantities of oil and the energy crisis quietly subsided.

A further blow to the economy, albeit a minor one, occurred with the announcement in 1995 that the local National Guard armory would be closed in a state-wide restructuring move. Although most of the men who served locally would be transferred to other units, the empty building served to emphasize the decline of small towns. The county, however, stepped in and purchased the structure and made what is now called the Multiplex building. It houses some of the offices from an overcrowded county courthouse. The county also leases out a large part of the building for a wellness center operated by a non-profit private concern.