davidaulloa/AmericanStories huggingface dataset:
Evening star., 1951-01-15
Bank Of Washington
Deposits 0uadrup|e
Under UNIV Control
By Donald B. HodIey

Deposits of the 141-year-old
National Bank of Washington
have nearly quadrupled since the
United Mine Workers Union ac-
quired stock control of the bank
in April, 1949. the recent condition
call from the controller of the
currency revealed.
Deposits of $104 ,612,283 on De-
cember 80, 1850, contrasted with
$26,689,619 on April IL, 1949.
only a few days after sale Of
81 per cent of the banks stock to
an unnamed group. The group
later was identified as the union,
and in January, 1949, A. D. Lewis,
brother of John L. Lewis and
chairman of the UNIV Organic
ing Committee for District SO,
was added TO the board, along
with Welly w. Hopkins, UNIV
general counsel.
The banks latest deposit total
also was $20,037,209 ahead of
$84, 4,575,074 reported just last Oc-
tober 4 and compared with $780,
924,652 at the end of 1949.
Bolton Complies Summary.
A summary of deposit totals in
the recent bank call, compiled by
j. Russell Bolton, auditor of the
National Savings & Trust Co.,
showed that deposits of the Riggs
National Bank, American Security
g. Trust Co.. the National Savings
& Trust Co.. Union Trust Co. and
Lincoln Nation Bank also gained
substantially, compared with Oc-
tober 4. Nine banks reported de-
clines.
Deposits of the 19 banks and
trust companies on December 80
totaled $1,162 900 VS.. S1.113.OOO on
October 4. S1,038,OO0 at the end
of 1949 and $420 million at the
end of 1910.
Mr.. Bottoms summary compares
deposits for December 80. 1850,
and October, 1850, below:
Evening star., 1951-01-15
FOREIGN Exchange

NEW YORK Jan Is R,.-Foreirn ex.
change rates follow (Great Britain ir
Canadian dollar in New York oper
market 4Es per cent discount or 95O6A
United States cents off is of a cent.
unchanged; Great Britain 30-dav futures
2.S0iss, unchanged; Great Britain 60-day
futures, 2.S0ss, unchanged; Great Britain
90-day futures. 2.s0is, unchanged; Bel
gium Qranc), 2.00A. unchanged; France
(franc1 2sSs of cent, unchanged; Hol-
land teuilder). 1926, unchanged; Italy
Qira). .16A of cent. unchaneed: Por-
tugal (escudo1, $50, unchanged; Sweden
kronal, 1897, unchanged: Switzerland
Crane, free); 1892. unchanged.
Latin America--Argentina free). 725,
unchanged; Brazil free), $50 unchanged:
Mexico 10y, unchanged Venezuela
(bolivar1, 30.06. unchanged
Far East-Hong Kong dollar, 1855.
UNCHANGED
Evening star., 1951-01-15
Sales

PourIy Sales on the Exchange Today:
11:00 am 42o 600 1900 noon $40 600
100 pm. 1 $50 600 300 m. o 600 600
tUnit Of trading 10 shares sIn bank.
ruptcy or receivership or being reorganized
assumed by such companies. Rates of d;vi-
dends in the foregoing table are annual
disbursements. based on the last quar- yerly
wise noted special or eStra div'dends sre
not included, cid Called xE. dividend
xr Ex rights. a Also extra or extras b Plus
stock dtvidend% d Cash or stock Paid
last year. Payable in etock estimated
cash value on ex-div,dend date. De-
clared or paid SO far this year. De-
spiit-up. k Declared or oaid this year an
accumulative issue with dividends In al
rears. p Paid this wear, dividend omitted
deferred or no action taken st last divi
dend meeting. Liuuidating dividend.
Payable in stock, exact cash value
undetermined on declaration date.
Evening star., 1951-01-15

lies Ol CllCllC
manufacturers with military pro-
duction, has opened an office here
in the Barr Building. Two Tor
mer Packard Motor executives,
Frank J. Holder, jr., and William
J. Kollar, have organized the flrm.
ID. Marsh & Associates cele-
bated the end of an outstanding
" successful year at its annual
dinner meeting Saturday night at
the Columbia Country Clup.
Mitchell T. Curtis was honored as
the most valuable associate OF
the year and Wilson P. Graham
as the leading producer OF new
life insurance. J. D. Marsh pre-
sided.
Cost Accountants to Meet.
John A. Beckett, assistant pro-
fessor of accounting at the Massa-
chusetts Institute of Technology
will address the Washington
chapter. National Association Of
Cost Accountants, Wednesday al
the Willard on "An Appraisal o.
the Direct Costing Theory"
Joseph P. Bracco has been pro
NOTED to a staff managershlp II
the Prudential Insurance Co. dis
trict office No. /. He replace
Jacob Vonk who has been pro
NOTED to the Newark home office
Eric 0. Erickson, jr., has beef
named sales and service repre-
sentative in the new group insur'
ance office of the John Hancocl
Mutual Life Insurance Co. here
John H. Kroll, of the Mutua
Insurance Agency here, has beer
reelected to the Live Member
Club of the Lumbermans Mutua
Casualty Co.
H. K. Porter Co. has moved it,
Washington Office to the Kas
Building. TIL Fourteenth street
NV.
Evening star., 1951-01-15

dent of t h e
A m e r i C a n
Pl n z 90 d
Council, a fer
tilizer ira d e
association. He
succe eds the
late Clifton A.
Woodrum.
Holder & Kol-
lar, a n e "
De troit firm
specializing in
co = ordinating
sales and engl-
neering activl-
ties of client
Evening star., 1951-01-15

WORLD BANK
IntBR&D3s72 1o1 26
FOREIGN l:1o
Australia IS 65 100
Brisbane IS 81 lo1
Canada gas "a 1olM
Chile 2-3s 81 35N
Denmark 6S AZ. 90
Japan 6Ias 81 81
Mex As 1868 o
SIN asd 12M
TokyoElLt6s53 4Slh
Urug CIV 4Kss 70 94zs
NEW YORK CITY
IS so 11o1H,
DOMESTIC IL?
Am&FP 6saO3O s5ih
AmT&T 3Nss50 l2oih
AmT&T 2As57 llolA
Am r&T 2N s6l 1o5M
AmT&T 2As75 1914
B & o 5s g5 @ 81
$40 cv4H2nl0 6oih
B Il o As rs A 90
B&O PIE As 80 o3N
B&O SW 5s 80 e5M
Bos Me ANS 70 66st
Can Psc 4sperp 1CoHt
Celanese 3s 65 lob
CGa 4Has2020B 4 75M
CRRNJ 3As ~ 563z
Chi Ct W As SO 1914
C&NW ANS 90 50
ClUnTr 4Ks 771o5b7
CubRR 5s52r ct 3lis
Del&Hud As 63- 1914
Det Er rv rs IS 1l3N
Fla E est 50 "a 81
H&M inc 5s 81 525t
!ntGN as 62 4o
Evening star., 1951-01-15

associates tfeSSD
tntGN lst6s52 81
Leh v As 20O3A 7oih
Leh v As 20O3D 81
M-K-T5s 81 A 1oolA
MKT ad 5s67 lo4iA
Mo-Pac 6hs 10 66N
Mo p 5s IS A LOG
| Mo-Pac IS n p LOG
| lMo-Pac IS 78G 1o6
lMo-Pac IS 80H 1oo
| Mo- Pac As rs Suk
| Mor&Es 4las56 %
lNET&T 3s 80 1o4h
NOTM 5s "a 1o1k
n 2 c IS 2013 IS
| NYC4 Ms2013A ~
Ny c As 9S 1874
NYcHR 3hs 81 92N
S-ChSL IS So ooN
INYNHin4has'22 6SN
| NYNHII4s2O07 1914
N Y o w IS 90 12N
N 70 W As IS ,
NoPac4 hs2047 95
NoStPw 2As75 1oliE
P G 81 e 3s II los
p G g. e 2AsS1 lolN
pennRR 41ps65 1o7iA
PhiIPet 2As "a. 1927
PhPet cv2as15 ll3H
SLSF 4Ias2022 cay
5eabin4hs2016 9S
So Pac 4hs 50 1907
SouPac cv $3.50 123iA
rhArd Ave $3.50 3oiH
vanadm 3hs 651o6N
W Sh As 1851 67lE
lWstMd4 a-4s69 1o6
WstEcv2 65s73 lilo
wis Cen A 40 90
Evening star., 1951-01-15
Dividends Announced
New York Cotton

NEW YORK. Jan Is lP.-Cotton fu-
lures developed steadier tone. in late
forenoon trading today early selling pres
sure was absent and limited short covering
by professional traders and mill demand
met light offerings. There was no
particular feature to the market, with
traders watching the foreign news closely.
Some dealers expressed the opinion
that a good deal of cotton goods has
been accumulated by manufacturers on
the idea of war. Dealers felt that any
easing in the foreign situation might
cause manufacturers to use some of the
reserve stocks and thus bring a slacken-
ing in the current pressure from civilian
bupers for more goods
than the previous close March, 43 "a !;
May. 43.42, and July, 42.94
Chesapeake & Ohio Railway an
nounced the retirement of H. F.
Kohmeyer as secretary and treas
urer.
Evening star., 1951-01-15
Metal Quotations

NEW YORK, Jan. Is GP.-spot non
cents poun 2as
II cents pound, New York. Zinc, 17l2
cents pound, East st. Louis; Tin, 1.75
pound New York. At Pittsburgh scrap
steel No. / heavy was quoted at 45.15-
1850.
Evening star., 1951-01-15
Washington Exchange

Potomac Elec Pwr com-40 at 1874.
Washington Gas com-l0o at 25He.
Potomac Elec Pwr com-25 at 1879
Virginia Elec & Pwr com-l00 at 20K.
Potomac Elec P $50 pfd A-l0 at ASA
Garfinckel com-75 at 1884.
Evening star., 1951-01-15
Business Briefs

Pennsylvania Railroad an
nounced plans to spend $6.5 mil
lion on new facilities close to its
Thirtieth Street Station in Phila-
delphia.
Douglas Aircraft Co. announced
award of an Air Force contract to
construct a "turbo-prop' version
of the C-124 Globemaster II,
which is a heavy transport plane
Dow Chemical Co. in months
ended November 80 earned $20.-
143,310 or $3.16 a share VS..
15,133,416 or $2.68 in the 1949
period.
Western Maryland Railway re-
ported an estimated income of
SIS, 10000 in, 1850 compared with
S4,004,777 in l949.
American Telephone g. Tele-
graph Co. in a preliminary esti-
mate reported earnings for 1850
of S236,710,0O0 or $l0.39 a share
VS.. $228. .003, ,399 or $9.49 in 1949.
Kroger Co. announced a quar-
terly dividend of 40 cents on new
common. payable March /.
West Virginia Pulp & Timber
Co. in year ended October 81
earned s12,262,000 or s1293 a
share VS.. s9.0l5,000 or S9.31 in
1949.
Gulf State Utilities in year
ended November 80 earned S.
094,726 or $1.87 a share VS.. S.
561.752 or s194 in 1949.
Hilton Hotels Corp. in year
ended December 81 earned in ex-
cess of 81 million or $2.55 a share
compared with $685. $50 or $3.50
in 1949. Gross revenues totaled
S44.5 million, up $50 from 1949.
Oklahoma Natural Gas Co. in
year ended November 80 earned
S3,635,758 or $3.50 a share VS..
$3,972.505 or 1921 in s1949.
Metropolitan Life Insurance Co.
announced appointment of four
new financial officers-E. A.
Schmidt, Jr., A. r. La Force, H. H.
Mcconnell and w. S. Saunders,
Evening star., 1951-01-15
IN. Y. Bond Market

LIST INCLUDES ONLY SELECTED ISSUES
(Eurnished by the Associated PreSxl
Evening star., 1951-01-15

sociation announced election of
George Hansen as president.
New York Stock Exchange dis
closed plans for a comprehensive
100000 campaign designed to
increase public knowledge of stock
ownership and the securities mar
ket."
British Iron and steel produc-
ton in 1850 rose to a weekly aver
age Of 498, 200 tons compared with
481 900 tons in 1949.
Evening star., 1951-05-02
Senate Probers Can Get Facts
Who Are the Presidential Advisers Who Feed Out
Misleading Information About Macarthur?

thur. It appeared in the April
2 issue Of the magazine News
week" which said:
EFT (the proposed U. N. state
ment) had been sent to the
Joint Chiefs of Staff. who in
turn dispatched it to Gen. Mac
Arthur for his observations. To
the complete CONSERVATION Of
the White House and the State
Department. Macarthur adopt
ed the essential points of the
statement in his own declara-
ton of March a."
Apparently the substance Of
the magazine article was tele.
graphed to Gen. Macarthur.
who telegraphed to "Newsweek"
a denial which that magazine.
with commendable fairness,
publicized in a full-page adver-
tisement in the newspapers Of
April IL. Gen. MacArthur's
radiogram read as follows:
1.-THE statement contained in
your issue Of April End to the
effect that prior to the issuance
of my statement on March Gath
of the military situation in
Korea I had been furnished a
copy of a policy statement by
the President cleared by the
governments having military
forces in Korea is entirely with
out basis in fact. ] have never
seen such a statement and do
not know if it even exists.
Please publish this in the in
terest of truth"
Yet, despite this explicit
denial, some White House ad-
visers keep on saying that Gen.
Macarthur did receive a copy
of the proposed U. N. statement.
The coming hearings will cer-
tainly establish the fact that
the Joint Chiefs did not send
the proposed statement. What
the Joint Chiefs did send on
March 20 was a brief message
merely advising the general
that the State Department was
planning presidential an
nouncement shortly that, with
Evening star., 1951-05-02

submarine forces manned by
volunteers" Nor is it known
whether or not Japan will be
the next target.
(2) The developments in
Iran, where a so-called Nation
alist government has come to
power, may permit the U. S. S. r.
to place that country behind
the Iron Curtain and thereby
deny the Western nations that
country's vast oil resources.
90 Britain finally is taking
military precautions to prevent
the spread Of MoscoW-brand
Asiatic nationalism in other
portions of the Middle East.
Such action may cause a clash
Of arms in that area, which
heretofore was not designated
as sensitive"
% Russian troops in sizable
numbers, under the personal
command of Marshal Rokossov-
sky. have been holding war
games in the Stettin region. For
the first time Polish and Czech
units are participating as actual
combat units on the side of Rus
sian and East German forces.
Does Russia intend to make a
stab for the West German ports
In the North Sea this year?
Evening star., 1951-05-02
Dovid Lowrence:

Who are the presidential ad-
visers" who keep feeding out
misleading information about
President Truman's relations
with Gen. Macarthur before the
dismissal occurred? Is it pos
sible that persons interested in
promoting differences between
Mr.. Truman and the former
supreme commander in the Far
East are now trying to defend
their part in a serious political
blunder?
These questions will be raised
and can be answered now only
by the Senate Investigating
Committee. Since they do not
involve any security" informa-
ton, it ought to be possible to
get the facts.
Meanwhile, 1t is curious that,
despite an explicitly worded
denial by Gen. Macarthur that
he ever saw or read the CO.
called peace offer which the
United Nations was reported to
have been preparing last March,
the White House. through the
medium of so-called ''presiden-
tial advisers" is placed in the
position now Of saying that he
did receive the document.
The statement in question
was circulated TO the Il gov
ernmentS whose troops are serv-
ing in Korea. A Washington
dispatch last Saturday-16 days
after MacArthur'S denial -
stated that, according to the
Presidents advisers" the pro-
posed U. N. statement was "tele-
typed to Macarthur in Tokyo
with the clear notation that this
was to be q Presidential state
nent which he should see in ad-
vance so that he could be guided
accordingly. According to the
Presidents advisers the general
not only rushed in to forestall
Truman but actually appropri-
ated some Of the language of
the document"
The foregoing charge was
first made before President Tru-
man dismissed Gen. MacAr-
Evening star., 1951-05-02
Doris FIeeson:

The Communist Daily Worker
has ordered a transcript of the
Macarthur hearings so that
the American comrades and
Moscow win be kept fully in
formed on the progress of the
new foreign policy argument
on Capitol Hill.
This illustrates why the Sem
ate suddenly was confronted
with the spectacle of a rather
emotional Chairman of Armed
Services, Mr.. Russell Of Geor-
gia, fighting for closed hearings.
So far the Democrats are
standing solidly with the Chair
man but Senators Byrd and
George have some considerable
criticisms of Mr.. Truman's
policy SO Senator Russell can't
be too sure he is out Of the
woods.
Originally the Republicans on
Armed Services agreed, too, that
closed hearings were indicated
for security reasons. Senator
Russell says that was before
Gen. Macarthur appears to have
handed them an issue on which
they give every indication of
expecting to ride on to triumph
in 1852.
Republicans reply that that
was before the Foreign Relations
Committee was included in the
hearings. This, they contend.
removed the affair into broader
fields of policy and made them
fair game.
Evening star., 1951-05-02

top flight spokesmen, including
cabinet officers, Vice President
Barkley and Averell Harri-
man, on various fronts, armed
with speeches, to counter the
Macarthur professional and
crusade.
Chief reliance, however, seems
to be on Harry Truman, him
self. The President is sitting
back now, watchfully waiting.
His strategy seems to be to give
Gen. Macarthur plenty of rope
on the theory that man of
the generals temperament SOON
er or later will trip himself
up, which may or may not pan
out. Senator Taft seems to be
gambling the other way-at
least he's riding piggy back with
the general for the time being.
A year from now, when the
national political conventions
are in the offing, who can tell?
There may be other issues.
But politicians operate for the
day on the issues that offer
themselves. and the day is full
of them now.
Evening star., 1951-05-02

clearing Of bulk Of South Korea
Of aggreSsorS, United Nations
now prepared to discuss condi-
tions Of settlement In Korea" :"
The message added that a
strong u. N. feeling persists
that further diplomatic effort
toward settlement should be
made before any advance with
major forces north of the 38th
Parallel"
Gen. Macarthur, as o field
commander. had right at any
time to propose a truce to the
Communist commander, which
he did on March "a. This right
has since been publicly affirmed
by Trygve Lie. secretary-ge general
of the u. N.
There is absolutely no evi-
dence in the record that the
Joint Chiefs sent the text of
any proposed U. N. declaration
to Gen. Macarthur. There is
some doubt whether they them
selves even saw it. The generals
statement of March "a addressed
to the Chinese was about 500
words long, and in that entire
statement only one sentence
occurs which bears any similar
ity to the Joint Chiefs message
which the general received. He
said merely that his forces have
now substantially cleared South
Korea Of organized Communist
forces" This is hardly an OBJ
servation that would occur only
to Washington planners. For
it is a statement Of the obvious
in the Korean military situation
as of March "a.
Why the White House insists
on feeding out stories that Gen.
Macarthur saw a copy Of the
proposed U. N. declaration, when
there is no record that it ever
was sent to him, is one of the
mysteries which, If cleared up,
may throw light on the identity
of the persons who Influenced
the President to dismiss Gen.
Macarthur.
Reproduction Rights Reserved)
Evening star., 1951-05-02
So the Comrades May Know
Communist Daily Worker Has Ordered Transcript
Of Closed Senate Hearings on Macarthur

Of Foreign Relations, cut short
the argument with a vote to
conf1ne the hearings to COM
mittee members and it pre-
vailed.
There was considerable dis
cussion also whether the wit
nesses should be allowed to hear
each other testify. 1t was finally
agreed that they wouldn't.
Witnesses, however, were voted
the privilege of having an aide
present. This will provide Gen.
Macarthur with a lawyer since
that is the civilian trade of the
ubiquitous Maj. Gen. Courtney
Whitney.
A participant in these wran-
giles already predicts gloomily
that the hearings will result in
majority and minority reports.
The more he reflects on the fate
of Senator Tydings last fall who
got that kind of report from his
State Department investigating
subcommittee, the gloomier he
gets.
Chairman Russell is not up,
luckily for him, until 1854. 1t
is perhaps also a blessing that
he parted from President Tru-
man, being a Georgian, on civil
rights so he cannot be too badly
mauled as an administration
apologiSt.
Just the same he admits that
he'd be just as well pleased if
this cup could pass from his
. lips.
Evening star., 1951-05-02
Constantine Brown:
Constontine Brown
Still q Question Of Strategy
Recent Developments Point Closer to Total War;
Macarthur Hearing to Spark Big Debate

The appearance tomorrow of
Gen. Macarthur before the Joint
Armed Services and Foreign Re-
lations Committees of the Sen
ate will spark a most momen-
tous debate at the most critical
phase Of the history Of this re-
public.
Except for a few inveterate
partisans, to whom the words
party" are synonymous with
country" the members of the
two committees seem decided to
judge the testimony Of the form
er Supreme Allied Commander
in the Pacific-and other top
Government men who will fol-
low him strictly on merits and
not on a basis of party politics.
It is highly improbable that
much time will be devoted to
the custer Of the general. That
is a closed incident. Republi-
cans and Democrats agree that
the commander-in-chief has the
undisputed right to fire-with
or without caSe-any officer, re-
gardless of rank.
Judging from the enormous
volume Of secret documents
which has been sent to the two
Senate committees by the Pen
tagon, the investigation will
transcend the personalities in
volved..
The main point today Is
whether or not we are adopting
wise strategy by maintaining
mere holding operations in Ko-
rea and leaving the Chinese
mainland alone.
It may be better for the.
much sought unity of the coun-
try to have the hearings open
to the public, with radio and
television reporting their prog
ress. The questions involved are
of such vast interest to every
citizen that broadcasting and
televising of the hearings. al
though not good entertainment
for the masses, would be a real
service to the country, which is
being asked to make enormous
sacrifices to save the free world
from destruction.
Those who favored secret
hearings were more interested
in preventing the Nation from
hearing about the wide diver
gence between the Macarthur
strategy and that of the Penta-
gon. There are some good rea-
sons for this apprehension. The
committees are anxious to pre-
serve secrecy as to which STRAIT
egy eventually may be adopted.
A number of developments
have occurred in the last few
weeks. creating the feeling that
we may be closer to total war
than is generally understood:
Cd The Communist offensive
in Korea Is still in its initial
stages. Nobody here knows
whether the Russians will send
into the Korean battle air and
Evening star., 1951-05-02
Thonnos [. Stokes:
Political Issues Grow Dizzier
Both the Korean War and the Coming Election Now
Being Fought Here for Campaign Purposes

However. it deals with war and
American boys at war, and that
can be made simple when ex-
plotted. In the ODwyer affair
there is the plain issue of "sin"
in the alleged kind treatment Of
gamblers and racketeers by poll
ticians and, luckily for Re-
publican campaign purposes,
in a major Democratic strong
hold. It's just as good, for
political purposes, as Tammany
once was, and just as sinister as
the tiger looked in the cartoons.
The RFC story is being kept
alive by the belated decision of
the Donald Dawson, Truman
secretary. to appear before the
Fulbright committee to tell what
he may know about political in
fiuence in the RFC.
The crime investigation is to
continue, though without bene-
tit of Senator Kefauver, Demo-
crat, Of Tennessee. and Senator
Dick Russell's. Democrat, of
Georgia, Korean-Far Eastern
policy investigation is slated for
a long and highly publicized
run. Whether hearings are pub
llc or private, everything avail
able from the inquiry will be
examined and analyzed for it's
political potentialities-and by
both sides-with 1852 in mind.
The Administrations political
Strategists demonstrated their
concern by tanning out various
Evening star., 1951-05-02

This is Sketchy picture OF
the new" situation which has
developed in the last few weeks
and calls for a thorough re-
examination of our political
and military strategy.
Gen. Macarthur is on record
as favoring a global strategy
for the global war which we now
are facing. He believes, accord
ing to those who have talked
to him recently, that we no
longer can leave the initiative to
the enemy. He also is said TO
believe that the time has come
when diplomacy - particularly
the complex diplomacy which
evolved the cumbersome ma
chinery of the United Nations
and NATO-muSt be subordi-
mated to sound strategy at this
time of imminent danger.
In this respect the Pentagon
has been far too deferential to
the policies of the State Depart
ment. Diplomats. even the best
of them, are given to wishful
thinking. The military must be
realists, particularly when the
free world is threatened by an
other GenghiS Khan.