davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01
Business Boom
in Face
OF Rough Spots
BY WALTER BREEDE, Jr.
Associated Press Business Writer

NEW YORK, June 30.-De-
spite some rough spots in the
economy, the first six months of
1856 saw the business boom roll
ing along to what may be an
other record year.
Autos, appliances and home
building dropped behind last
years furious pace. But taken
as whole, the January-June
period was indiSputably a rec
ord-breaker.
Gross national product = the
sum total of all business activity
was running at a yearly rate
Of about 1898 billion. Last years
national production. a record up
to then, was 1887 billion.
King Sized Gains
The Nations steel mills, racing
to beat strike deadline, poured
out 62l2 million tons Of ingots
and steel for castings in the
first six months this year. Out
put for the first half of 1855
was STA million.
King-sized gains were scored
also in coal production, freight
carloadingS and electric power
distribution Retail trade, meas
ured in terms of department
store sales. topped last years
figures by four per cent.
Business spending on new
plant and equipment was at q
record annual clip Of $35 billion.
Total construction eclipsed the
record 1855 pace; contracts
awarded for heavy construction
jobs in the first six months this
year amounted to $111s billion,
an increase of 81 per cent. Siz-
able increases were racked up by
producers and ref1ners Of crude
oil as consumer demand for
gasoline and other petroleum
products climbed about four per
cent.
Employment Record
Employment in the first six
months set new records; at last
count, 65 million Americans had
Jobs. Despite loss of overtime in
some industries, average weekly
take-home pay of factory work.
ers was higher than a year ago,
although it turned down Slight
ly in May.
Against this luStrous back
ground, the rough spots in tn,
economy stood out like sore
thumbs. Auto production moved
into low gear. In the home ap-
pliance field it was much the
same story. The home building
decline in the first six months
was another cause for worry.
Likewise prominent among the
ragged spots was an old peren-
nial-the farm problem.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01
NEW YORK COTTON

NEW YORK, June 80 R,-cotton
futures prices held steady this week
on the New York Cotton Exchange. All
active contracts except current July
posted modest gains, rsngine up 10
81 90 a bale for March. The spot month
was of cents at the nnish.
There were no new Developments OF
suficient importance marketvise to
have any great effect on price trends
in either direction
Just before the close on Friday, the
Department OF Agriculture announced
q mid-June parity price OF 35 A cents q
pound. unchanged from the midi May
level. This was not too far OF from
trade expectations
II was noted that the mid-June parity
OF 35 ~ cents q pound was 10 points
higher than the year-ago price OF 1884
The Exchange Service Bureau pointed
out that II parity one month from now
is unchanged. an average Government
loan rate for 1855 middling one-inch
cotton OF 80 "a cents a pound wiuld be
in prospect That would compare with
previously announced minimum loan
rate Of 30 25 cents, and with an average
loan rate last year OF 80 cents. eX-
change oficials added
Exports for the week ended Tuesday
totaled 80 600 bales. unchanged from
the previous week AND substantially
higher than the year-ago figure OF
~ 600 Da,tS
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01

to be available after January,
1884.
But the National Savings and
Trust Co., trustee of the fund,
decided not to spend the money
in a lump. Instead the bank
directors Incorporated the Arson
Mills Foundation in September,
1887, to carry out the instruc-
tons of Gen. Mills. The income
OF the fund has been used since
then to assist in the work Of
the Kiwanis Clubs underpriv-
ileged child committee. The COM
mlttee certifies specific cases of
crippled children to the founda-
ton, which then pays hospital
and medical bills of the children
directly.
Assets Have Increased
Since it was incorporated the
assets of the foundation have
increased to $208, 900. Altogether
$l02,626 has been paid in direct
benefits from the income.
AS Mr.. Pardoe explains. the
fund contributes to the salaries
of a nurse and assistant at the
Kiwanis clinic. 1t also pays for
such medical needs as leg and
arm braces. But most surgical
and doctors services are pro-
vided by physicians who are
Kiwanis members.
I'VE see those children all the
way through from the time they
are small until they grow up"
a director of the foundation said.
Several of the funds bene-
f1ciarieS have become doctors
themselves.
Governed by Seven
The foundation is governed by
seven directors. four Of them APP
pointed by the Kiwanis Club and
three by the president of the
National Savings e. Trust Co.
The Kiwanis appointees are
Bruce Ballard who is also presi-
dent of National Savings &
Trust Mr.. Pardoe; Frank Gate
wood, Kiwanis president, and AL
Howard. Appointed by the bank
are Clarence Dodge, Ernest w.
Greene, and Brainard w. Parker.
Last year, the $4,000 spent by
the foundation amounted to 81
per cent of the total expenditures
by the KiwaniS Club in its work
among crippled children. Set up
as a perpetual memorial to Gen.
Mills, the foundation expects to
continue bringing new hope to
crippled children indefinitely
from the proceeds of the officers
military invention.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01
John 1. Thompson & Co.
Merges ShOlar Services

John I. Thompson a. Co., en-
cheering research and develop
ment Arm, yesterday announced
that Sholar Services, Inc, its
wholly owned subsidiary en-
gagged in producing industrial
and commercial art, has been
merged with the parent company.
The business Of Sholar Serv-
ices will be continued and ex-
panded as the Sholar Graphics
Division. Robert E. Fagley. a
vice president Of the parent COM
pany, also will serve as division
manager. and w. Harold Welcher
will continue as studio director
The Thompson company has
its main Office at 92l Seventeenth
street NV. and the Sholar
Graphics Division is situated at
1118 Twenty-second street NV.
Another division. the Bellefonte
Laboratory Division, is at Belle
fonte, Pa.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01
Knapp Will Head
ANA Chapter

Joseph G. Knapp, admins
traitor Of the Farmer Co.
operative Service Of the Agri-
culture Department, has been
elected president of Washing
ton Chapter, American Market
ing Association.
Other new officers elected at
the annual meeting at the Will
lard Hotel Thursday are: Win
ston E. Marsh, National Asso-
citation of Independent Tire
Dealers, vice president; Leon S.
Godfrey. Department Of Com
merce, secretary; Jerome P.
Plckard. Washington Board of
"rade, { asurer.
William E. Coyle, Station
.RC. and Henry Richert. United
States Office of Education. were
elected directors.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01
Overtime Counter Dealers
Offered New Handbook

Over-the-counter dealers are
being offered handbook on
common stocks devoted exclu-
sively to issues making up this
market. 1t is called "Over-the-
Counter Common Stock Hand
book"
Published by Commodity Re-
search Publications Corp. the
booklet was undertaken with
the cooperation of the National
Association of Securities Deal
ers and contains summarized in
formation on around 1000 COM
panies and recent and historical
quotations.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01
Bond LIST Hurt
In Half Year by
Tighter Credit
BY WARREN BENNETT

NEW YORK, June 30.-Prices
of both corporate and United
States Government bonds drift
ed downward during the first
half of 1856 as the administra-
ton continued to clamp down
on credit as a brake against
possible imitation.
The big squeeze came April
Is when the Federal Reserve
System frightened money by
raising the discount rate. BY
boosting the cost of money it
loans to member banks, the
Fed" is able to put pressure on
commercial banks to curb their
own lending to business and
other customers. Immediately
after the hike in the discount
rate. United States Treasury
bonds touched their lows so far
this year.
This repressive action by the
Fed" in the face of soft spots
in the automobile, appliance and
home building industries drew
protests from a number of bond
analysts. businessmen and even
Secretary of Treasury Humph-
rey.
Withdraws Objections
Just recently, however, Mr.
Humphrey said the Feds" move
seemed to have worked out all
right" and the Treasury chief
withdrew his personal objections
The Federal Reserve had eased
the money supply around Me-
mortal Day by buying 91-day
Treasury bills in the open mar
ket. This pumps funds into the
private banking system.
Total business. despite the soft
spots, is moving along at close
to a record rate. The latest
Federal Reserve figures show
commercial and industrial loans
at 8,453, 100000 so far this
year are $5.483 900. 900 more than
in 1855 at the halfway mark.
Market analysts say this ire
mendous demand for loans has
had as much effect as any ad-
ministration action on the up
surge in interest rates and the
consequent decline in bond val
ues. both corporate and Gov
eminent.
Quality Issues Hit
This decline has been most
evident in investment quality
corporates, utilities and railroad
bonds.
The Associated Press average
of 10 low-yield bonds was l02 0
on January l. Exactly six
months later it was at 1907. a
fraction above its low so far
this year. The A. P. average
of 10 utility bonds declined from
96.5 to 94.5. the rail component
from 96.S to 95.1, the industrial
average from 96.5 to 95.9 and
the foreign bond average from
BAT to BAL.
While trading volume in stocks
on the New York Stock Exchange
is lower than a year ago, trading
in corporate bonds is up. Ex-
perts say that is another indi-
cation Of investor caution. The
six-month total Of bond sales
on the big board amounted to
$534,603 900 par value, compared
with $519, 100. 400 a year ago.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01
Home Federal Reports
Gains From Year Ago

Home Federal Savings e. Loan
Association increased its assets
to a new high of $7.203,-
635 on June 90, a gain of 10
per cent from S6,720.305 a year
earlier, reported John U. Ray
mond. vice president and secre-
tary.
Real estate loans advanced to
$6.479,251, an increase of Z pei
cent from $6.054,934 year ago.
Invested savings amounted to
S5.954.8 a gain of IA per cent
from $5.255,575 a year earlier
Reserves reached a new peak of
1857, 791, up 1877 per cent from
$317. 626 on the like 1855 date.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01
Area Wholesale Trade
Up Sharply Since 1913

The 1854 Census Of Business
has produced interesting figures
to show the sharp expansion in
wholesale trade in Washington
and the entire Metropolitan
Area since 1913.
The area had l,001 merchant
wholesalers with a volume Of
$670,216.000 in 1854 in contrast
to 754 firms and sales Of $685.
101 900 in 1913. Manufacturers
sales representatives numbered
ZIG and had $641, Gas 900 of busi-
ness in 1854, compared with 252
representatives and $550,167 900
in 1913. Petroleum bulk plants
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01

holder of large real estate in
terests in Washington and other
cities. He was the owner of the
Mills Building here.
Much of his wealth sprang
from his invention Of a military
cartridge belt late in the 10Th
century. In 1919 he set UP a
trust providing a charitable
fund of SOL, 900 "for the benefit
of children" The amount was
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01
Apparel Show Scheduled
At Willard July $40

The annual fall show Of the
Washington Maryland Mems and
Boys Apparel Club will be held
at the Willard Hotel July $40,
it was announced today.
Buyers will have an oppor-
tunity to see new lines Of lead
ing manufacturers in one loca-
ton. Daily hours will be 9 am.
to 9 pm. A snack bar will be
omen.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01

!
FHLBB approval to establish a
branch as all Federally- CHAR
tered institutions must do.
The IA Federally chartered in
situations. identified easily by
the word Federal" in their
name, have launched a drive to
persuade the State institutions
they should accept the same reg
ulationS.
Calling it a matter of prin-
ciple, the State institutions have
refused. In general their leaders
ask why they should give up
privilege just because some of
the other associations don't have
it.
How much the privilege means
is a question. Two of the State
institutions are planning one
branch each. With the FHLBB
taking a liberal view. many of
the recently established branches
have been those Of Federal in
situations.
Warner Opinion Supports
Federal Institutions
An opinion from John w
Warner, jr.. associate counsel OF
the league, appears to support
the Federal chartered group. Mr.
Warner has emphasized that the
law is not entirely clear, but that
in his opinion, the FHLBB has
jurisdiction over the establish
ment of branches by State-char-
tered associations in the Dis
trict.
He refers to 1888 legislation
which placed all State-chartered
savings and loan institutions
here under jurisdiction of the
Controller of the Currency. This
jurisdiction, he believes, extend
ed to the establishment OF
branches. and was transferred
in it's entirety to the Home Loan
Bank Board by a later amend
ment.
Mr.. Warner said yesterday
that his first opinion on the
matter was given on the basis
of a preliminary study. but that
an additional study had been
completed and supports the orig
inal opinion strongly The more
complete report will be deliv-
cred to the league and FHLBE
tomorrow.
The question is not likely to
cause any rumpus in the league,
but both sides may cling rather
stubbornly to their points OF
view. Unless a clear legal opin-
ion finally settles the question,
the te-chartered institutions
are not expected to accept any,
thing less than legislation to set
tie the matter permanently.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01
COMMODITY PRICES

NEW YORK, June 80 lP,.-The
Associated Press index Of IS important
commodities moved higher this week
after seven successive weeks Of decline.
At 1918, the index compared with
1877 q week ago and l71.2S q year
ago All components except the grains
and cotton group showed gains over the
week before. There were no new 1886
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01
dc. Branches Raise Issue
.OfFHLBB Jurisdiction
BY DONALD B. HADLEY

The growing number of branches established by
socations of the District Savings Loan League raised
thorny legal question to what authority
Bank Board has in this field here.
For number of the Is older member
ang under State charters have been under
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01
Crippled Children Aided
By Military Invention
BY HARRY BACAS

military mans invention has been making happier lives
for District crippled children.
The story of the Arson Mills Foundation and
told recently by Washington
Kiwanis Club.
The late Gen Arson Mills Army officer and
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01
Trade Policy Committee
Opposes Textile Leaders

The Committee for a National
Trade Policy. of which Harry A.
Bulls is vice chairman and act
ing chairman, has issued an
interesting pamphlet which takes
issue with textile leaders who
have charged that cut-throat
competition from imported Jap
anese textiles is running their
industry.
In distributing the booklet,
George L. Bell, president Of the
committee. writes: I'VE are not
unappreciative of the difficulties
of some segments Of the cotton
textile industry.
The national interest of the
United States, however, is more
important than that OF any one
industry and in the current de-
mand for sweeping import quotas
we think that the proposed
remedy would be more danger
Gus than the disease"
One of the booklets conclu-
sions: I'VE have seen that i'm
ports are not really threat to
the existence of the United
States cotton industry as a whole,
and, in fact that imports are
far from being the major prob
lens of the industry"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-07-01

and terminal totaled rs and did
$50, 1893, 900 of business in 1854
VS.. 26 firms and $66,086,000 in
1948.
Merchant wholesalers in the
District alone numbered 76l and
had a volume of $583,831 900 in
1854 VS.. 644 and $467 100000 in
1913. Manufacturers sales repre- =
totaled 100 and had
$500, 075,000 sales VS.. 238 and
$538,818,000 in 1913. Petroleum
bulk plants and terminals totaled
seven and had $46.278,000 sales
VS.. 10 with $33,S58,OOO in 1948.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-12-23
,EMPORARY RENTALs AVAILAPIE

Gu. CH. CIRCLE, 3549 oiiver-Lse.
houst. yard: 2 baths. ) bedrooms.
flne place. children. $3.50 mo. WO.
R-n3u&
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-12-23
HOUSES FURNISHED

BETHESDA AREA-3-bedrm. ram
bier; fireplace. picture windows;
carport; large lot: OIL. 2-4353
NEARBY VA.-3 bedrms.; attrac.:
firepl.; acreage; gar; II min. TO
White House: S170. Ell. 6-4023.
BETH.-Greenwich Forest bed
rms, compl, furn.: 2-car gar, rec.
possibly more: $3.50 mo. OF. $3.50.
SILVER SPRING. 200 whitestone
road--3 bedrms. din. rm.. "a
baths. . story brk.; $3.50. Ewes,
CH. CHI. CIRCLE, 3549 oliver--Lse.
houst. yard: 2 baths. ) bedrooms.
tlne place. children. $3.50 mo. WO.
6-g3US
TEMPORARY RENTALS AVAILABLE
NOW--Good ..-bedrm. homes, $50
per wk. S150 mo. HOLLEY REAL
TY. $500 Lee hwy. KE. S-535O.
Mr.. NICHOLS. ATLANTIC - Brick:
:, bedrms. scr. porch. rec. rm.; gas;
settled couple; no pets; mr.. every
thing. Sll0. 10. 3-6SS9.
BETHESDA bedrms.: nicely furn.
Sl55 70 $3.50, SUBURBAN HOME
REALTY. OIL. 6-657s, OIL. 6-7saO.
ARL.. VA, $50 s. HiVhland---Charm
ingly furn, s-bedrm. home ? blks.
Columbia pike. also Grade and tr
high school ASK--USl REALTY
CO. ia. s-l252. ia. 1860.
CHEVY CHASE, MD.-Center- hall
brk. Colonial. Lge. livI rm. 3 bed
rooms, maids quarters. $3.50 mo.
Holidays, call JU. D-S4D1: week
days, AID. 4-42l2
BELvOIR -PEkTAGON ATTN.-Mod.
ern 2-bedrm brick; newly deco
rated. attractiveiy furnished Xmas
Clean" Front bedrm. has walk in
closet and baby space" Children's
bedrm, has twin beds. Full bsmt.
ground-level entT new auto. wash
er Fenced yard Bus. school bus at
door, HUNTINGTON ave. lust south Of
Illumination. Sll5. UN 5-573s
EXCELLENT NORTHWEST LOCA-
TON Only S2uO: 4-bedrOosn
house Call EN- 2-929O
CHEVY CHASE. d. C.--s rooms. oil
heat; nice yd. garage. nicely furn. {;
available Xmas: $40. EN-. 3-332l.
COLORED-FCRN1sHED HOUSE for
rent OF Lease. . bedrooms. living
room, kitchen and bath. play porch /:
large yard, nice for kids; full base
ment. gas and electric heat Can
be seen all day Sundays, evenings
> TO 10. See OWNER AZ iii 64th
place ne. Chapel Oaks. Md or
call AID, 4-s149
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-12-23

BETHESDA AREA--3-bedrm ram
bier; fireplace, picture windows;
carport: large lot: OIL. 2-43b3
NEARBY VA.--3 bedrms.; attrac.:
flrepl.; acreage; gar; II min. to
White House: $40. Ell. 6-4023.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-12-23
APIS. FuRhIsHED-Mp
Washington, D. c.
SUNDAY. DECEMBER 1a. 1855


-. -------.
1ikOMA PARk--Three rooms MT
path. bus iare downtown: S6S. .Js
per mo. Ju 5-la53, or apply Aot
9 $40 Tulip ave.
I tk. PIX, s410 Flower ave .-I-bed.
~ terrace apt, mr.. stores. on b,is
.ne' eple., $50. JU S-SSi0'
JAkOMA PARK - Cozy Inv RIM
mod, KIT. with din. area. | bedrm
TIE bath. mr.. stores: / fare down
town; $50, incl, utils. JU. g-2ISs
1AKOMA PARK-Attractiye. nicely
decorated Arm. apt. 2nd ar. res.
idential neighborhood: many clos.
ets. SEPARATE thermostat. picture
WINDOW ~ optional. Emuloved
oouple, or two gentlemen; SIS JU
SILVER sPRING-Liv. rm-- bedrm
BIT din, bath; utils. incl; SOS 80,
couple. refs; no pets. 10. ;I-6sS9
aso.5O--4 rms, ia baths, on bus.
ne arall, now. BOWERS BROS.
TAKoMA PARK. 703i Carroll ave-
.nd H.. llv. rm. din. rm., kit,
peorm., bath, porch. $50 incl, utils
Redee- Adults Open sun. Is
other times, call OIL 2-O9S2.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-12-23

BOILING FIELD AREA--Attractiv
semidetached. 3 bedrms.; fun din.
rm., semifnished bsmt.: attic;
fenced yard. M. school and shop
ping. 10 a-59aS
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-12-23

BETHESDA-ROCKVILLE - n-bedrm-
rambler; mr.. everything: like new;
vacant nj. O.dnEg
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-12-23
FALLS cHURCH-3-bedroom lie.
bath rambler; large lot $40 month.
NJ r. REYNOLDS A. co.
IF A-AGOu
V1cINITY NAYf.oR Rp


And Alabama ave Sc firm
brick. semidetached house sbou.
y yrs I'D and newly decorated 3
bedroom. gas heat front porch
deep lni convenient 70 elementary
school shopping center and move
Gond bus service Phone LII i-3ipn
RENT HOUSE BEFORE c'rRisTIAs
626 horton st. NV SIS
236 oakdale pi. NV. SIS
321s 9Th st. sc s7S
1920 Ives pi sc. s75
PYRAMID DI 7-7s15 or LA. 6-42i3
8I20 N. DAKOTA AVE. NV
3-BEDRM, BUNGALOW Pin ATTIC
fl07 KANSAS AVE sl0y NO
LOUIS Ridden I'll g.Iu90
Milford chronicle., 1956-09-21

100 Tons Hot Mix Asphaltic Con-
crete (TRM)
100 Tons Cold Laid Bituminous
Concrete (TRM)
100 Tons Screenings (TPM)
CONTRACT 15o6A
BRIDGE REPAIRS AND
REPLACEMENT
New Castle County
Repairs ans Replacement of
One I'D Bridge
100 C. Y. Excavation
$50 c. Y. Selected Borrow
$50 L. F. 727 Al" c. M. Arch,
Coated & Paved
80 L. F. Wood Shoulder Curb
40 L. T. Wire Rope Guard Fence
4 Each End Post Attachments
25 Tons Sand for Footings
20 $. Y. Rip Rap
Attention is called to the Special
Provisions in the proposals, the spe-
cifications and the Contract Agree
ment.
The provisions of the Federal Aid
Highway Act as amended are appl-
cable to Federal Aid Projects.
The employment agency for these
contracts shall be the Delaware State
Employment Service whose offices are
located at COL Shipley Street, Whining
ton. 307 S. State Street, Dover, and
the Wagamon Building, The Circle,
Georgetown.
Performance of contract shall COM
mence within. ten (10) days after exc
cution of the contract and be COM
pleted as specified.
Monthly payments will be made
for ninety 600 percent of the con-
struction completed each month.
Bidders must submit proposals upon
complete forms as provided by the
Department for bidding purposes.
Each proposal must be accompan-
led by a surety bond, certified check
or money to the amount o. at least
ten (10) percent of the total amount
of the proposal.
The envelope containing the pro-
posal must be marked Proposal for
the construction of State Highway
Contract No.-.--.-.------.''
The contract will be awarded or re-
jected within twenty (20) days from
the date of opening proposals.
The right is reserved to reject any
or all bids.
Prospective bidders who have sub
mitted to the Department thirty (SO)
days prior to the opening of the pro-
posals, the completed forms Con
tractors Financial Statement" and
Experience QUESTIONABLE" and who
have been prequalified twenty (2u)
days before the receipt of the bid,
may obtain one set of contract docu-
ments from the Highway Administra-
ton Building, Dover, Delaware, upon
the payment of five dollars (S5.O0).
Contract documents need nol be re-
turned and the above payment will
not be refunded.
Make checks payable to the Della
ware State Highway Department.
DELAWARE STATE HIGHWAY
DEPARTMENT
Pxy. Gordon Smith Chairman
r. A. Haber, Chief Engineer
September IL, 1856
Dover, Delaware 9-l4-2t