davidaulloa/AmericanStories huggingface dataset:
Evening star., 1954-01-06
On the Air
On the Air
Was 1t Cogey or Careless
To Say Gag Thievery Pays?
By Harry Macarthur

This undoubtedly is the last
place in the world where you
would expect to find a complaint
about the misuse Of the formid-
able power of television. Such
misuse does occur now and
again. however. One thing any
one on TV should remember is
to do nothing except after due
consideration. There always is
somebody in the audience to
whom seeing is believing.
Take. for instance, the recent
Milton Berle show on which Jack
Webb appeared as the Sgt. Fri
day of "Dragnet.' The plot, as
every one in the world must
know, including denizenS of
water front dives in Rangoon,
had Friday investigating the
rumor that Milton was thefting
gags from Sid Caesar. The con-
cluSion was that crime does, in
deed, pay; it got Berle 80 years
with NBC.
Well, this seemed funny at the
time. But it may turn out to
have been DANCE Gus. There is
no telling what effect this casual
comment will have on future
generations of TV performers
and audiences. 1t can't be a
very happy effect. though. Some
body was paying attention to
Berle, somebody named the Ma
tional Association of Gagwriters.
The NAG has just drawn up
a 10-point program of advice for
any one bent upon becoming a
comedian. Four of the 10 rules
indicate that somebody was TAX
ing Mr.. Berle seriously. Watch
and listen to top comedians at
work." the NAG advises. "Imi-
tate and parrot the styles Of
those you most resemble. Then
do research through old joke
books to get routines and ma
terial."
After you do all of this and
attempt to wrap up all those
borrowed jokes in an individual
style of your own, the NAG has
a word to keep you going. Says
item of advice No. 8: Get blank
book, pencil and course on short
hand. SO you can take down
Evening star., 1954-01-06
eleyision omorroW-Thursdoy, yonuorx J. 1854

wNBwG| To-day the $50 ssk
G2 News Kitchen Cupboard;
II, to
Ruaseut; 1880
Pres Eisenhower; Payuse"Baeksu
saus ST., pnE
WTre0 Cartoon
Raiders;
Ruth Crane; $780, Jerry Nmma
'Wers the Legion
Mediatons;
Meaeham Billy
Of
Guiding Light T. eap
Mrs zN House Party The
eMnM Moore
Evening star., 1954-01-06

current Nv variety shows
Come to think Of it. maybe
Berle was being cagey instead
Of careless with that crime
does-pay line. If NBC is smart
it will take up his option right
now. When that 3O-year con-
tract runs out. he'll be the only
TV comic left doing original
material. Every one else will
be sitting there with those blank
books, taking his stuff down in
shorthand for use next week.
The Gagwriters' advice, Incl
dentally. concludes with these
items: Don't let your mother
edit your Jokes" and Keep your
material clean" The implication
is clear: Mama's jokes will be
too gamey.
Somehow, we don't think the
National Association of Gag
writer's is long for this world.
Attacking motherhood, indeedl
"
. MORE COLOR-Ted Mack's
Amateur Hour" is the next
NBC-TV show slated for the
color premiere" treatment, next
Saturday night. The following
Monday Kate Smiths afternoon
session will be colorcast and
Your Hit Parade" will go full
spectrum on January 16. Dinah
Shore will face the lucky color
cameras this month. too, coming
to New York to originate her
shows on January 10 and 81
NBC. according to the Asso-
ciated Press, hasn't yet set upon
the next special event to do in
color. Some thought is being
given, however. to the Friday
night fights at Madison Square
Garden and to the Mardi Gras
parade in New Orleans. A night
event. with bright lights and
contrasting deep shadows, the
parade ought to be quite a test
for the color engineers.
The most significant of the
recent color news. perhaps, was
Admira's announcement of a
new price list, headed by a 81
inch black-and-white table model
at $179.95. The color console,
with 15-inch tube producing
about a 12-inch picture, is listed
at $1,175. It's a blond oak job
with "a top that can be easily
lifted of without tools to expose
the chassis for easy picture tube
adjustment"
FAME -" Omnibus" emerged
the winner in the fifth annual
poll of television critics and COL
umniStS conducted by Motion
Picture Daily for Fame maga-
zine. 1t was chosen best network
program, with Your Show of
Shows" in second place and
"Dragnet" in third. Other win
ners:
Best television performer
Donald O'Connor.
Most promising male star
Julius La Rosa.
Most promising female star
Audrey Meadows.
Best comedian-Jackie Glea-
son.
Best comedienne - Imogene
Coca.
Best comedy team-Sid Caesar
and Imogene Coca.
Best comedy show-"Comedy
Hour"
Best variety program-"Toast
Of the Town"
Best panel discussion-"Meet
the Press"
Best new dramatic program
~. S. Steel Hour"
Best dramatic Stu
dio One"
Best mystery program
"Dragnet."
Best male vocalist - Perry
Como.
Best female vocalist-Dinah
Shore.
Best classical musical show
"Voice of Firestone."
Best popular musical show
"Your Hit Parade"
Best quiz show (audience)-
"You Bet Your Life"
Best panel quiz-"What's My
Line?"
Best master of ceremonies
Ed Sullivan.
!. Best announcer-George Fen
neman.
Best news commentator-John
Cameron Swayze.
Best sportcaster-Mel Allen.
Best children's program
Ding Dong School,
Best commercial presentation
l-"Tord Theater."
Evening star., 1954-01-06
FIN Stations

FIN Stations
wRCFM-s,s Me-. Channel 2,e
$50 am. to am.
WBUz FM-ss.5 Me-. Channel 7ss
3 pm. to 9 pm
WToP,FM-ss.3 Me-. Channel 7a
Around the Clock
WASH-FM-sl1 Me-, Channel 2as
7;30 am. to 10 pm
t~-FM-ss.7 Me-, Channel 2sl
S pm. TO an.
WcFM-ss.s Me-. chsnasi 2ss
pm. to II pm.
WFAA-1oo.3 Me-, Channel 7s1
S am. to Midnight
WWDc FM-1oi.l Me-. Channel 1ss
J am. to 2 pm.
WeMS-FM-103.S Me-, chsnneI 40
$50 am. to Midnight
WARL-FM-1 1851 Me-, Channel 40
7:30 am, to 9 pm.
WUsr-FM-1os.3 Me-. Channel 2s7
7;30 am. to 9 pm.
WMAL-FM- 1919 Me-, Channel 2s1
8 am. to ILLS pm
Other AM Stations
WeMS-s70 M.--s:3O a.m.-5:15 pm.
WPIk-730 M.-7:30 a.m..5:1S pm.
MARl-1A0 kc-1.3l m -5.1s nm
WGAY-1,05o ke.--7:3o a.m.-s:15 pm.
WUST-1,12o kc.-7:3o a.m.-s:1s pm.
WFAx-1,220 Kc.-7:3D a.m.-5:15 pm.
w00k-1,34O M.-s a.m.-2 pm.
WeAM-1,3s ke.-s:30 anil pm.
W0l-1,450 kc.-s a.m.-12 pm.
WD0N-1,s40 ke.-7:30 a.m.-5:15 pm.
WiNx-1,e0o ke.-6 a.m.-s:1S pm.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-09-01
Long-AwaitedUpturn
In Steel Purchases
Reported Under Way
BY The Associated Pres.

NEW YORK. Sept. THE
long awaited upturn in the steel
market began this week, Iron
Age. the national Woodworking
weekly said today.
There's q modest increase in
new orders and production is
scheduled slightly higher for the
second week in a row. Steel
making operations this week are
scheduled at 65> per cent of rated
capacity. up 2 points from last
week.
The upturn has been achieved,
significantly, even without the
stimulus expected renewed steel
buying by the auto Industry for
new models. When that comes
1t will supply even more strength.
said Iron Age.
Iron Age gave these signs of
the upturn:
/. Several steel companies
have noticed a slight increase
in new orders and tonnage.
2. Inventory correction is lev
cling of.
8. Vacation plant shutdowns
by steel consumers are almost
over.
4. Warehouse saleS--a fairly
reliable barometer of business at
mill level-are up substantially.
5. Improvement is fairly gem
Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-09-01
Chicago Gruin

CHICAGO. Sept, | B.-soybeans dig.
played some hesitant strengtn on the
heard Of Trade tSday un ~. close to q
'e 'Bayins j. beans stemmed IN part from y,
absence Of deliveries Of cash ro6 beans v on
the Strongest and gained about 3 cents
at one time. falling back la aeGo Fto os
was scheduled ,,led. e to bay gs, 2oooo tons Oh
soy Wheat near the end Of the first hour
was unchanged to "a higher. .Septem-
Der 2.134. corn unchanged to lower.
R iIs September 74Ss rye VI to ia
to 2ss HIGHER, September $3.05, and lard
S Snananf sep e a. ees SIS. Is.
ing pressure which has been noticeable
s CT aass y Nee he momens was lack
export business. despite reports OF poor
Il many sections q a o q steFsas
and being offered for sale.
Traders paid some attention to the
european situaticn foiioT nas.ni rra eo,ns
might be I more conservative policy
s snoa ine Pans 70 rs eounres
with consequent reduction in export
for American grain.
apoi n ss ssse fairly ysA general rains and
poor drying weather had resulted in
SLOW harvesting progress in the North
west. It added that there has BEEN Q
sharp drop in the quality Of wheat.
Corn traders expressed concern over
the heavy marketing of hogs. particu-
larry the fact that many very light
weight hogs are arriving ct terminals.
This suggested the corn consumption on
farms might not be rs large as had been
anticipated fact which would result
in considerably larger marketing Of cash
corn.
There was little buying IN oats on
the belief import restrictions on Cana
dian oats will be extended beyond their
Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-09-01
Stocks Turn Upward
IN 81 10 s. Range;
Trading Pace Eases
BY The Associated Press

NEW YORK. Sept. THE
stock market rallied today after
its severe setback Of yesterday.
Gains went to between / and
2 points in many instances and
q few pushed higher than that.
Losses were small and scattered.
Trading quickened when prices
rose and then slackened when
the rise leveled OF.
Doing well were the aircrafts,
steels. motors. and railroads on
good activity. Also higher were
the oils. coppers. chemicals, ra-
io-televisions. rubbers. and the
utilities.
Among higher stocks were
General Dynamics. Lockheed,
Boeing, Montgomery Ward,
Chrysler, youngstown Sheet 81
Tube, American Telephone.
Western Union. Southern Rail-
way. Santa Fe. and Du Pont.
The bond market was narrow
ly mixed. Government securities
in the over-the-counter market
were, unchanged to slightly
f1rmer.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-09-01
Produce Markets

Baltimore quotations supplied BY the
/ United States Agriculture Department.
= Apples: Blu. bkts. and eastern boxes;
| Delicious 2A inches up 325: Mcintosh
2h inches up usls 800; .staymans 2M
n ncses Up Up soS Ps EsmOo os,S us1s AZ
Grimes 2h inches up 200. ~eo'
| Peaches; Barely steady. Demand light
Nd. bu. bktS. USls Elbertas 2A inches
inches ESD Up 81 H Hass si ine hss e
;7S-I; 90. by: skts; 1880. pa. Usls
inches min. 1895 ~ inches min /.
and 2h4 inches up I.50-.75, 2 Inches up
l:o0-.56: lIs By. ert. liberia Usis ;
inches up 1.25- 90.
Potatoes: Us1s and Us1s size A un-
washed N. j.. Katahdins 100 Id. sacks
ordinary quality 1.00-.25. so ID. sacks
l.10-.l5. Del Katahdins, 100 ID. sacks
250-.60. so ID. sacks fair quality Loo
sweet Potatoes: slightly weaker Md.
and W, bu. bkts. Golden usls 2.25-.ao
Beans liima5; Barely steady. Blu. hpr.
few 6 hishsr. N. ). s.as. Nearby bS
snap beans: N. Y. about steady. others
v aIsntns seaker ~ 6kts or and hpr Nd
LIS; contenders l.00-1.5O. according
to quail. N. j. Valentines 1.25-2. co..
N. Y. Valentines FOLLOWERS 2.50-2.75.
Poultry Quotations.
Poultry: Fryers barely steady. Mod
crate supplies fully ample demand Just
but oerinss limited %ited soG fncr 1a1 Sul fes
ouns sse %ss' ducks s asf ss
yesterday 1890. Broilers or fryers s.
10. and over 2S-30. ,roasters ID, and
light type IS. bullets ~ lib. Is, youns
type hens 35, small type including Belts
vile young hens 30-31.
Livestock Markets.
Cattle $50; trend Of market about in
line With MONDAY: Utility and COM
tered sales utility and commercial COWS
o9.lo.o9i sc scattered sa &c lots stockers and
rsespts odd afs en esas an sda Slime
$500: ODD culls down to 500.
l5soc,222G-lb: 6arrows and ants, mainly
81 n 9SaS e the aa924S lH
:S5550-a00-lb;.. 1s.oo-Is.7 20: odd head over
YeS Ss ,s dsxnsasS fT9m dsSo 1870
20.25: 18O-is0-lb., 2025-20.75: choice
sows under 400, mostly 1880, but odd
head up to 1900: 400-450-lb., 1850;
450-500-lb.. 1880; 500-55O-lb. 1880;
550-600-lb., 1900; odd head heavier
weights, 1850 down. Garbage-fed hogs
, sola l.00.2 .Oo under price of same
Sheep 20: No early sales.
Grain Market.
Flour Receipts. e,1s1 100-pound,
Whess.Rsssig PTS , l5s;lao bushels;
s5S.44s bushels. No. 2 red winter gar
tem nb NO. Nc. 3 1 oSasssi'' S'o@: sep
Corn-Receipts. 257,12S bushels: ship
ments, 1Ot,786 bushels; stocks. 1,125.-
oatsMRsceipts, none: shipments,
none: stock, 2.763 bushels.
Barley-Receipts, 46,794 bushels:
shipments, 46,797 bushels; stocks, 1873
Rye-Receipts, 5000 bushels: ship
ments, none; stocks, none.
soybeans--Receipts. none: shipments,
Millfeed-Receipts, 80 tons.
Egg Market Steady.
yesterdays Quotations.)
Eggs: Steady ON better quality bare
ly to weak on others. Arrivals heavy. De-
mand improved on generally sufficient
supply on medium and small. Large sizes
were ample for limited trade needs.
Prices paid by flrst receivers delivered
minimum 60 per cent A quality; whites,
45-5c; brown and mixed colors; 1888;
Mediums minimum so per cent A quail
ity: whites; 2S-3lAa; brown and mixed
colors; 2S-32 tSmalls 23h).
Receipts: EGGS. 4,404.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-09-01

Hourly Sales on the Exchanke.
1900 Am $40 600 u noon TO 600
100 ON o4o 600 goo nm 600 COO
tUnit Of trading 10 shares or saies N
full In bankruptcy OF receivership OF
being reorganized under the Bankruptcy
Act or securities assumed BY such COM
panies Rates OF dividend IN the fore
going table are annual disbursements
based on the last quarterly or semi
annuAf declaration: Unless otherwise
noted. special or extra dividends are not
included Also extra or extras. 3 An.
nual rate plus stock dividend; Declared
or paid IN 1883 plus stock dividend
g Declared or paid SO far this year
on ex-diyidend or redistribution date.
Paid last year b Declared or paid
after stock dividend or spiitup E De-
ciaree or paid this year. an accumuia-
tive issue with dividends IN arrears.
p PAID this year. dividend omitted de-
ferred or no action taken. ct last divi.
dsnd meetins Declared o. paid n
stvidend cid called. Z u. dividend. x-dis
Ex distribution; IT. ~ riehts, Nv Wtshons
warrants. WV With warrants. Ed When
distributed. vi when tssusd.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-09-01
Washington Securities

SALE6.
Pot Elec Pwr com-60 at 1871, 100 at
~, 300 ct ID. loo at 10, 100 at 10,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-09-01

eral and is not confined to .
few items or a few companies.
It is noted in some products
that have been tagging most.
such as stainless steels and al
10y oars.
Iron Age said that steel base
prices remain firm but mills are
absorbing substantial amounts
OF freight and. In some cases.
are making quality concessions.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-09-01
Business Briefs

| Electric Power Production In
| the week ended August % totaled
a record high Of 1927, 000, 600
kilowatt hours compared with
9,207 900, 900 in the previous week
and was 80 above the like week
a year ago.-Edison Electric In
Stitute.
Wholesale Fo0d Index, based
on the cost of a pound each
of 81 foods in general use. this
week declined to $685. from
$3.50 a week ago and compared
with 1851 in the like week a
year ago.-Dun & Bradstreet.
Personal Income in the Nation
in July was at the annual rate Of
$286.5 billion, less than one-half
of per cent below the record
annual rate of $288.250 900, 900 in
July last year.-Commerce De-
partment.
Treasury Department reported
the latest issue of short term
bills was sold at a price equal to
an average yield of 1.O23% COM
pared with similar issue last
week at a rate of 0.983%.
Massey-Harris Co. announced
completion of the merger with
Harry Ferguson. Inc. The nav
company will be Massey Harris
Ferguson, Inc. Racine, Wis.
Greyhound Corp. announced
the merger of three of its oper-
ating divisions ~ Southeastern
Greyhound, Dixie Greyhound
and Teche Greyhound Lines.
Jewel Tea Co. sales in A weeks
ended August IA totaled $780,
Ill 1856, up 14.11o from 1858; for
80 weeks ended August IA, $164,-
812, 003, UP 1897 from 1858.
Ohio Power Co. in IL months
ended July 81 earned $13,779,988
or 1910 a preferred share VS..
$13,726,256 or $3.50 in 1858.
Appalachian Elec. Pwr. Co. IN
IL months ended July 81 earned
$12,942, 904 or 1856 q preferred
share VS.. $13,162,831 or 1888
in 1858.
Lockheed Aircraft Co. in s.
months ended July 4 earned $l0,-
1854, 165 or $4.05 share VS.. So
074, 243 or $3.42 in 1858 period.
Gulf States Utilities Co. in IL
months ended July 81 earned
So, 5O8,19 or $1.89 share VS..
$8,56l,917 or $1.66 in 1858.
Dayton Power & Light Co. in
IL months ended June 30 earned
So, 446, 142 or $3.50 q share VS..
81, 889, $50 or $3.50 in 1858.
Carrier Corp. in IL months
ended July 81 earned $7.094,770
or $4.84 a share VS.. $685.. asa
or $5.26 in 1858.
Marathon Corp. in 8 months
ended July 81 earned $5,327, 795
or SLAB a share VS.. 1929. 662 or
S1.14 in 1853 period.
Virginia Carolina Chem. Co.
in year ended June 80 earned
So, 618,198 or 1888 a preferred
VS.. $4,215,874 or $19.19 in 1858.
Family Finance Corp. in year
ended June 80 earned $3,825,817
or $2.01 a share VS.. $3,617,07l or
$1.90 in 1858.
Union Tank Car Co. in 8
months ended June 80 earned
So, 344. 427 or $1.09 share VS..
ST. ,999, 1909 or SO cents in 1858
period.
Carpenter Steel Co. in year
ended June 80 earned $2,543, 1875
or $5.95 a share VS.. 1921 ,685 or
$7.56 in 1858.
Atlas Plywood Corp. in year
ended June 80 earned $492. 513
or % cents a share VS.. $1,367 ,284
or $1.41 in 1858.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-09-01

THE EVENING STAR washington D. 80 ASS
WEDNESDAY, sEPTEEBER 1854
Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-09-01
Dividends Announced

announced:
Stock.
Pe-Stk ofPay-
Rate. riod. record. able
Borden Co 1880 1Oeo 9-10 1O-Ii
Diamond T Motor.
Interim.
Conr Exch Bank : SOC - GLIB 1O-1
Irregular.
I'd, - Ca or. -
Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-09-01
New York Cotton

NEW YORK. Sept. M.--Cotton fu-
the forenoon today on trade buying and
some commission house interest. Trade
advices from washington said that Japan
pected to buy 1.0O0, 900 bales of cotton
for dollars and probably another 250. 600
bales for yen. It was believed that Spain
So 900, 600 F.O.A. grant. Work was said
to have been started on special programs
to sell cotton to France. italy. Yugo-
Slavia Spain and some Scandinavian
countries over and above their dollar
purchases.
Noon prices were to 40 cents bale.
higher than the previous close Oct. 34.42.
Dec 34.71 and March $500.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-09-01
D. {. Bank CIearinqs
SET New Records

Washington bank clearings
made new records for August and
for the first eight months Of this
year. 1t was announced yesterday
by George A. Bright, Clearing
House manager.
August figures rose from $410,-
640.503 in 1858 to $49,295, 1854
this year. a gain of 20 per cent.
The first eight months showed
a gain from $3,614,651 1856 in
1858 to $3,843, JOSS. 005 this year,
up 6.3 per cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-09-01

< FIX dividend. fPlus extra or extra S.
Tar this year. xr Elk rights.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-09-01
Odd-Lot Declines

NEW YORK. Sept. / E9,-The New
York Stock Exchange reported today
these odd-iot transactions BY principal
dealers on the exchange for August 81
Purchases OF 222.044 shares: sales Of
$4,000 shares, inciuding 3.045 shares
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1954-01-01
COOP LEAGUE BACKS ROBINSON PATHaN ACT

CHICAGO -(CNS)- The Robin
son-Patman act should stay on the
statute books, Jerry Voorhis, the Co.
operative Leagues executive secre-
tary, told Attorney General Herbert
Brownell, December p. Voorhis said
he was joining the plea several other
small business organizations voiced
to Brownell earlier.
In essence, the Robinson-Patm
act is a code of fair competition. I'm
der it, sellers cannot offer a lower
price to favored customers or other
wise discriminate in favor of large
buyers.
Ii a manufacturer offers to sell
his product at a discount to mail
order house, store chan, or other
large buyer, he must be prepared to
prove that such discount is justified
by savings he can make in his costs.
The Robinson-Patman act also pre-
vents buyers from seeking favored
treatment not accorded other buyers.
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1954-01-01

Twice in 80 years Germany has in
vaded Russia and slaughtered 20 mill
lion Russians. The Soviet Union now
has under its fist Berlin. 1t Will never
let go so long as we try to rearm Hit
ler's Hordes.
Dulles is driving France to open al
lance with Russia.
The Yugoslavs, an unconquera BILE
race, in return for help against Hitler
were promised an outlet to the high
seas through Trieste. Tito leaned for
q time to the West. When it appeared
that Dulles intended to break this
promise, the clever Kremlin said Keep
the given word" OF course. the Yugo-
slavs went back into the Russian
spheres of power
Four hundred years ago Akbar Mo-
manned, with hordes from TurkeStan
coming over the Khyber Pass oVerran
India. This Mogul Dynasty did build
schools and public works. but it also
oppressed the Hindus. The Moslems
were never one-fourth of the people
of India. They were shrewd business
men and got the land. The dynasty
broke up into Native princes" These
held power by alliance for 200 years
with the British invaders.
Finally Mahatma Gandhi and Nehru
herded these Capitalist landowners in
to the Northwest part of India, now
called Pakistan. They are 80 million
people compared with $50 million in
India. They are still war-minded. To
the North of them is Communist China
and back of that the Soviets.
+ Dulles is trying to set up a military
airbase in Pakistan The Pakistans are
willing to accept our money. To think
that they would go to war (for Wash
ngton) against India, China, Russia,
is a dream of a feverish child.
Dulles should consult Macarthur as
to how the Chinese fought when he
olundered into running their power
1ams on the Yalu River
Why not accept facts. A jackass
1oes not run over a cliff nor butt
stone wall unless he is also blind.
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1954-01-01
CREDIT UNIONS BOOMING,
SAYS WALL ST. JOURNAL

CHICAGO (CNS)- Credit I'm
ions are so popular they're even gain
ing foothold in banks" say the
WALL STREET JOURNAL, Deem
Der %. New credit unions are pop
ping on the scene in most sections of
the country while old ones are grow
ing fast. Never in the near-half- cen
fury history of U. S. credit unions
has there been such a BOOM"
Reasons for the rapid growth,
says the JOURNAL, are convenient
services, no red tape, dividends double
bank interest rates, and loan charges
that are a half or one-third rates
charged by most small loan firms
$50 far we have done little more
than lay the foundation of the cred
it union movement" Thomas w.
Doig, Credit Union National Associa-
tons managing director, told the
JOURNAL.
Says the JOURNAL: "In the over
all loan-savings picture, credit I'M
ions are a small but growing force.
They currently hold over 81 billion
of the $211a billion consumer in
stalment debt" Yet while install
ment credit has grown seven times
since 1889, credit union loans have
grown 10 times.
Credit union "assets total $1H bill
lion-small beside the $21.7 billion
of savings and loan as associations
and the "24 billion of mutual savings
banks. But those assets are five times
higher than the best prewar credit
union figure"
Small loan and finance firms
frown on credit unions, regard them
as competitive upstairs" "But that
isn't affecting credit un-
ion growth" They're getting lot of
encouragement from employers"
Credit unions pay no federal in
come taxes" says the JOURNAL.
But credit unionists point out that
neither do businessmen who don't
make a profit, and credit unions are
operated as non-profit agencies" One
finance company man "criticizes the
;ocialistic aspects of credit unions
which are competing with private bus
ness firms" !