davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
.OiIShipments
Plan Drafted

The United States has COM
pleted emergency plans for ship
ping oil to Europe without using
the Suez Canal but officials now
believe it unlikely they will be
needed.
A blueprint for such mass oil
shipments probably will be laid
on the shelf, after six weeks of
planning. because it has been
outdated by developments in the
Suez dispute.
Authorities who reported this
today agreed that even though
the wrangle with Egypt has not
yet been settled. there seems
little prospect extra American
oil will have to be sent to West
ern Europe in the near future.
officials said the present ex-
pectation that emergency ship
ments of oil will not have to be
made to Europe is based on two
major factors:
l. Previous plans for shipping
Mideast oil to Europe around
Africa, thus bypaSsing Suez, have
been virtually abandoned.
| 2. Egypt has thus far operated
the canal by itself, making it
unlikely an accident might block
/ the waterway to Western ships.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
CHICAGOLIVESTOCK

CHICAGO, Oct II up (USDAl.-
Salable hogs 5000 genreal market fairly
active. steady to weak on butchers; but
later trade dull; weak to mostly rs lower
on few hundred head: sows steady; No
+ and 3 100 ID butchers 16,0O-1625
mostly l6.00-16.15: with several lots
these late 1575-l600i few lots l ano
K 200-220 ID sorted for grade 1885
1880, 1880. around 100 head thest
1880 limited volume mixed grade lot:
S0-l95 ID 15.o5-16 90; larger lots 300.
$50 Id sows l4.25-15.75
Salable cattle l.50n. calves 800
tive steady to 50. higher cows stead,
ito 20 higher; bulls and vealers stead,
weak; few head Of higher choice an
high choice 1850 lbs weight 1850
a few loads and lots standard TO higl
good Loo lbs, down l6.oQ-2350;
load utility S5O-lb; steers 400 a loa'
I26. 50; several loads choice S@5-900 Id
lheifers "a .00-o6.NO; a few STANDARD
Iheifers 1500-1sb0; part load utilitI
ci sii' cows S io.60-i3.50; few high com
mercial cows 1900; and few STANDARD
cows to 1900; Gamer and cutter cOwi
,S.O0-lNbn; utility and commercial bull
6S sO Few fa sht e aHs do ESne {
700 several loads good f50-750 ID
yearling stockers and feeding steer
IN .SD- ~ .UN
Salable sheep l,500: fairly active
slaughter lambs and yearlingS steady Il
strong sheep about steady, oeod tC
prime wooled lambs, ~ OO-22 90; with
bulk ehoiceand prime 20.50 and above
most Gull to low good lambs 1000
$500; occasional thin light Gull under
1000; a small lot prime shorn lambs
with No. ! pelts, 2O7h; a load mostlS
choice around rs ID yearlings carrying
No. ! and fall shorn pelts. 1900, a few
lots Gull to mostly good shorn slaughter
ewes 35O-4 30
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11

banks is now 3 per cent. But
steps can lead down as well as
up.
That Contracting Dollar -
There's some drama in the story
when the cost of living reaches
an all time high. But how much
erosion in the value of the dollar
does that mean? The consumer
price index d947-49 equals 100
reached a new high of 1862 in
June, went on to lit in July.
and slipped back to 1853 in
August. The September figure
probably will equal the July one.
The Dollars Value Now: The
value of the dollar now on the
same scale (1947-1949 equals
100 is 85.6. Even when the cost
of living hit the lit high the
dollar was worth 85.5 cents,
down 1.8 cents from last Janu-
airy and down 19 cents from the
1858 average.
Where the Value Went: The
best view is from pre- World War
II onward. This can be had by
taking the indexes of consumer
prices and purchasing power on
which the 1858 levels equal
100. The dollar that was worth
100 cents then is worth 51.2 cents
now Wartime initiation Topped
about % cents from the dollars
value. Postwar initiation, when
controls came off and saved-up
money competed for things to
buy, cost another 20 cents. Then
there was stability from 1948 to
the Korean War. In l949 the
dollar even gained back frac-
ton of a cent in value. The
Korean War trimmed the dollar
by another SIC cents. After that
the dollars value was pretty
stable. Now another bite is
.threatned by imitation.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
YOUR
MONEYS WORTH
Store-Center Boom Still On
gone up.
BY SYLVIA PORTER

This past Monday. the world
first completely aforementioned
and largest regional shopping
center under one roof opened or
an 84-acre development seven
miles from downtown Mime
lapolis-thereby pounding home
the fact that despite all the
warnings about "overbuilding.
the fabulous shopping center
boom of our era is booming more
than ever.
"Southdale" is the name of the
Nations giants. And with it's Il
stores, its 1000 parking spaces
its indoor plaza and glamorous
handspring. it properly can take
its place among the great shop
ping centers Of our country.
But "Southdale" is more thar
a big shopping center. 1t is the
newest symbol of this revolution
in retailing which has taker
place just since the end of Worlc
War II.
There are now between l,60C
and 1900 shopping centers
against next to zero only 10 year:
ago.
About $500 more are in tn,
building or advanced planning
IStage, estimates S. o. Kaylin
Executive editor of Chain Store
Age and an authority on thi.
subject. Centers are opening a
the rate of 600 to 700 a year.
Chain Stores Appeal
Only a few years ago, it wa
news when a nationally-knowl
chain decided to locate in
shopping center. This year. MI
Kaylin told me, almost half O
all new chain stores will be il
shopping centers, compared will
81 per cent in 1855. And evel
this doesn't tell the full story
For the shoe chains are concen
trating IS per cent of their neV
stores in centers. The druI
chains are concentrating n pc
cent of their new units in cen
tiers. The variety chains ar
concentrating 70 per cent. tn
apparel chains go per cent, tn
grocery chains so per cent.
Wherever the population i
expanding. you'll find new shop
ping centers. And the forcei
that set this retail revolution il
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11

motion-the surge to the SUBJ
urbs and rural districts, the up
swing in the population, the
climb in incomes-show no signs
of petering out.
What's more, the number of
shopping center failures to date
is asountingly low, in fact in
finitesimal. Its not because
the shopping center operators
are so smart they don't make
mistakes" says Mr.. Kaylin. ITS
because the people and money
are there"
When a center as huge and
full of "firsts" as Southdale
opens, it UNDERSTANDABLE gets
Nationwide attention. Actually
there are only about II regional
jcenterS in the Nation sufficiently
large and varied to duplicate thu
/ facilities of a downtown area.
Most Centers Medium
Most centers are medium
including only about 80 stores
which try to hold competition
among themselves to a mini
mum.
Many shopping centers. Incl
dentally, already are suffering
from downtown's biggest head
ache inadequate parking in
peak hours.
Some day, the grim forecasts
about "overbuilding" coulc
come true. In at least a few
areas, there already are fears o.
too many" competitive centers
fringe operations.
But that's a story for the fu'
ture - and perhaps it'll be {
! story that won't be written fol
many, many years. Right now
the shopping center boom is, i
anything, intensifying. And i
there is a peak to it, no one ye
sees it.
Copyright, 1856, Hall Syndicate Inc J
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
ILong-BeII, Init. Paper
Merger Vote Delayed

NEW YORK. Oct. IL (P).-A
two-week adjournment was an
nounced yesterday for the three
special stakeholder meetings
called to vote on the proposed
merger of the Long Bell Lumber
Corp And the Long Bell Lumber
Co. into the International Paper
Co.
A spokesman for the three
companies said the meetings will
be adjourned because of a DELAY
in receiving a tax ruling from
the Internal Revenue Service.
The two Long-Bell meetings
called for October 16 are to be-
put off until october 80 and the
international Paper meeting
from October II to october 81.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
First and Citizens Gains
in Third 1856 Quarter

The First and Citizens Ma
tional Bank of Alexandria
gained both assets and deposits
in the third quarter of 1856, but
small decreases from a year age
persisted, a condition statement
for the September &c call dis
closed.
Ranking as the largest bank
in Northern Virginia, the First
and Citizens had assets of S46,-
830,844 on September 26, a gain
of S587,199 since June 30, but
S873,326 below October S, 1855
Deposits of SAP .342. 404 were UP
S472 500 since June 30, but down
i1,1l8.842 from a year earlier.
Outstanding loans of S17,422,-
765 were off $561,192 since June
30 and down $2l2,561 from q
year ago. Holdings Of Fedora.
obligations amounted to &c.
725,0O8. gain of $296,457 since
June and S1,l82. 686 ahead of q
year ago.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
STARGAZING
By FRANCIS P. DOUGLAS

Fourth Quarter Sales-Retail-
ers look with happy expectations
to fourth-quarter business eli
NAKED by changing cash registers
of Christmas business. They ex-
pect the holiday seasons sales
to exceed the records set last
year and the year before.
The 1855 business bettered
that of 1854 by about 3 per cent
This year the increase over 1856
is expected to be more than
per cent.
Inventories: Stocks are not
excessive but adequate. This is
on the authority of Philip M
/ Talbot, president of the Ma
tional Retail Dry Goods ASso-
citation to which more than 5000
stores belong department
stores, chains and speciality
shops. Mr.. Talbot said some in
crease in prices is in sight but
not enough to retard selling; the
political campaign won't have
any bearing; quality of mer-
chandiSe is excellent; collections
are satisfactory.
Spending MOney-Look at the
figures for incomes and you see
a reason for confidence in retail
trade DiSpoSable personal in
: come-that is. income after taxes
is running at better than 1924
billion year. That compares
with $270.6 billion last year and
$2544 billion in 1854.
Take Home Pay: This is up
too, because of wage increases
} These have been followed by
numerous price increases, but
the higher prices have not YET
taken a sufficient bite out of pay
to reduce real wages.
Scarce Money: Not much
guidance for the current money
IStringency is found in the expe.
: rience of the previous one. But
past performance does indicate
the Federal Reserve Board won't
let this one go too long or toe
far without steps to ease the
situation.
Then and Now: The chief diff.
ference between 1953-54 condi.
tions and those of 1856 is that
in the earlier period deflatior
was threatening; now it's infia.
ton. In April, 1853. the Treas
'iury's hard money" policy re-
suited in Sopping up a lot Of
money with the long term 81
per cent bond issue. The Presi-
dents Economic report noted
later that this caused an lin.
cipient and possibly dangerous
scramble" for cash. There's an
other scramble on now, but the
danger doesn't seem so great
at present.
What Reserve Banks Did: Tht
reserve banks cut the rediscount
rate from 2 per cent to l34 pei
: cent in February, 1854, and tt
'1l2 per cent in April. In July
reserve requirements were cut
. Since then the discount rate Of
the Federal Reserve Bank Of
New York has been raised si1
times in "a of a per centagt
point stops. The rate of all the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
NRDGA Proposes Changes
In Federal Tax Laws

The National Retail Dry Goods
Association wants a revision of
the tax law covering the report
ing of income from inStallment
sales.
In a letter to the Joint Con-
gressional Committee on Inter-
nal Revenue Taxation, the
NRDGA yesterday pointed out
that many retail stores would
elect to report deferred payment
sales on the installment basis
This is not possible under the
present law which iamposes, in
many cases, a substantial ele-
ment of double taxation on
those stores making the change
over. The suggested change
would have the effect of elimi-
mating the double tax element.
The association also sought
permission to use the "lower OF
LIFO cost or market" in valuing
inventories. The present law re-
quires LIFO taxpayers to employ
cost only in determining inven-
tory valuations.
Re-enactment of sections ASP
and 462 permitting taxpayers to
defer prepaid income establish
reserves for estimated
expenses, also was asked. Modi-
fication of the new depreciation
provisions for leasehold improve
.ments was another point.
The association asked provi-
sion for retirement income OF
selt-employed people for income
tax purposes similar to those
accorded to employed individuals
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
Rising Prices. Wages Spur
Support for Credit Curb

The steady procession of wage
and price increases swelling into
another inf1ationary wave may
take some of the steam out -
the argument that the Federal
Reserve Board should take the
lid off the credit kettle and let
her blow.
Bankers say the snowballing
increases clearly demonstrate
the need for credit restraint and
predict the Federal Reserve Board
will maintain what others nave
called its "tight-money" policy.
More liberal credit obviously
would be dangerous at this time,
they declare.
The tight credit situation. with
rising interest rates and accom-
panying declines in the Govern
ment bond market, has made it
difficult to conduct normal bank
ing operations. the bankers adj
init privately. but they are con-
vinced of the soundness of credit
restraint and believe events will
demonstrate its soundneSs
Rumors that the reserve board
might yield to political pressure
before the election and increase
the supply of credit by oper
market operations or lower
reserve requirements appear tC
be based on a belief in some
political quarters that the re-
serve board is subservient or car
be made to bow to expediency.
Little credence is given tC
these reports in the financia
district. Rising prices will un.
derline for little people the very
real danger of imitation. the
threat to family budgets. anC
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
Ford and GIN Report
%, 300 Additional Jobs

DETROIT, Oct. IL CP.-Ford
Motor Co. said yesterday 1880
workers had been called back to
work between September and
the end Of last week. officials
said the number Of hourly rated
workers now stands at l39,5OO
only 500 under the top figure
expected by early December.
Fisher Body Division of Gen.
eral Motors announced it will
add 10000 employees to its pay
rolls by December /.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
NEW YORK PRODUCE

NEW YORK, Oct. III ~ CuspAl -
Butter steady to firm. Receipts, 56f ,DOO
wholesale prices on bulk cartons fresh
creamery, W score tAAI Bai7.Boa.
cents. ~ score "a. 62-62Is: 90 score
70 bu't-bl y. 80 score &C., 5S3s-5aI.
Cheese steady, Receipts, Al 900
Prices unehanged
wholesale osg prices weak. Receipts
follow
uvestern--M Mixed coi1rs, extras as
30 lbs l5lss4dis extras large t45.tS
lpa td.iI'4, extra medium 3U.3i;
smaus, 3.-.i standards large, 3i-31
dlrues. JO-Jl; checks, 3O-3i Whites.
large ti1-iS lbs j. 4B-A7is extras me-
aium. 3}-32i7 Browns, extras t4s.5u
lbs dlig-4Dls,
Nearpy Whites, top quality $3.50
lbs fs-5Oia mediums 3gi3-3.}is
smalls, 25-&b, peeweeS, 1920 Browns
TOP Qualty $500 lbs.l, i7ig-4sta. me.
asuina, ~ 4-adi smalls, 1880. pee
wres 1920
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11

SOCRATES AWARD
Clarkson Gemmill, head of
the advertising department
of Giant Food stores,
which, for the second time,
has won the Socrates Award
for outstanding newspaper
food advertising in the
United States and Canada.
The 1856 award was an
nounced by Vincent
Edwards g. Co.. the new
York firm which sponsors
the contest. Giant won the
award in 1941.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
treasury Bills

The cost to the Treasury Of
Short-term borrowing dropped
from its 23-year high yesterday
on a special issue of 91-day bills
The average rate for the Sic
billion issue was 2.67 per cent
compared with 3.013 per cent on
Mondays regular weekly issue
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
Bio Cool lower Built

New York-The worlds only
coal-unloading tower equipped
with an elevator to carry crew
and equipment has been built
by Consolidated Edison Com
pany of New York at its new
Astoria station on Long Island
The l36-foot tower travels a
240-foot runway.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11

lie alone Will SpenQ more imam
$500 million in the next three
years on new and improved
plants and equipment in order
to measure up to the ever-in-
creasing opportunities for sale of
electric power and equipment.
GE already has invested SIP
billion in expansion since World
War II and is spending S185 mil
hon for expansion and improve
ment this year.
He noted that it is no longer
practical for a competitive COM
pany to use production facilities
until they are worn out, and
suggested that the Federal Gov
ernment's old fashioned and
outmoded" depreciation rates,
used for tax purposes, be re-
vised ito meet the relatives of
rapid obsolescence accompany
ing tOday's expanding economy"
Calls Attenuation Answer
To Inadequate Work Force
Mr.. Cordiner said a major
part of the company's expansion
and improvement activity is
being effected in two ways.
The first is in automation.
The second is in locating a por-
ton of new plants in agricul-
tural regions where the rapidly
advancing technology on the
farm has created local man.
power SURPRISES" he declared.
Far from causing mass un-
employment, automation is the
only solution of our long range
problem of employment. Despite
our rapidly growing population
we will not have enough man
power to satisfy our needs. and
wants for more goods and
services.
TO continue our present rate
of progress will require an in
crease Of 40 per cent in the next
10 years, but in the same period
our work force will increase only
IA per cent, he predicted.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
FOREIGN EXCHANGE

NEW YORK. Oct. II R.-Foreign
dollars, others in cents unchanged un-
less otherwise noted:
Canadian dollar in New York open
market 2ss per cent premium or 102 .62 "a
United States cents up l /3a OF a cent
Europe: Great Britain (pound) So 7Slz
3O-day futures 2.17ls, up "a: 60-day fu-
lures, 2.17is UP u 90-day futures > .76la
(franc) .9Sss OF cent: Germany WEST
ernl tDeutsche mark $3.50; Holland
tguilderl 2614. of on Italy (liral 1875
OF a cent. Portupal (escudol $50: Swe-
den (kronal 1894 Switzerland tfranc)
free) 23.3i: Denmark tkronel IA 50.
Latin America. Argentina tfreel 324.
up 03 Brazil (freel 81: Mexico sol;
Venezuela (bolivarl 1908.
Far East, Hong Kong dollar 1745.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11

make it risky to attempt to ex-
plot this politically, it is pre-
dicted.
The last month has brought
expressions of public support for
the Reserve Boards policy from
insurance. savings and loan
banking and business leaders.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
'1 RI BUSINESS
Cordiner of GE Sees Need
For Vast Plant Expansion
By DONALD B. HADLEY

General Electric Co. and its competitors in the electrical
manufacturing industry demand for their products
double in the next eight and perhaps quadpe the next
16 years Ralph Cordner president declared
Speaking connection with tour Of facilities and
meeting with friends in this area Mr. Codner that
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
Some Sins
And Errors
In Business
By ELMER ROESSNER

Granger writes that I always
seem so enthusiastic about bust
ness that she wonders whether
I am blind to its many faults and
lchicanes.
No. Dorothy.
Because / love business and
because / have been an enthuSi-
astic reporter and commentator
for so long, l am more conscious
than others of its many errors
and sins.
At the moment, reading from
left to right across the top of my
mind, ] dislike:
Products described as magic,
Whenever I am offered some
thing magic" l feel as if I am
about to saw a woman in half.
Trading stamps. l think they
increase prices.
People who want to outlaw
trading stamps. l believe mer-
chants in a democracy have the
right to offer any kinds of deajS
Ior premiums-including solid
gold Christmas they want.
Door-to-door statesmen. They
bother me
People who want to outlaw
door to-door statesmen,
IrritatiOnS Via Ether
Radio stations that boom com
mCncials so loudly that when you
turn the dial to comfortable lis
tening. you can't hear the music
when it returns.
Television programs that don't
disclose the fact that they are
on film until it's too late tc
switch to another channel
Television films with copy
rights in Roman numerals sc
you can't readily figure they
were made in 1884. (That's
: MCMXXXIV).
Television commercials that
come on before it's time for an
other drink.
Steak houses that do not have
menus.
Farm stands whose produce
turns out to be stuff middlemer
wouldn't buy.
Prepackaged meat wrapped tc
conceal excess fat or bone.
Most prepackaged meat any.
how.
Coupons. They make me fee
cheated when 1 pay the regular
. price.
Other AnnOyances
Real estate men who phone
and say, Have you thought OF
selling your homer" I haven't
even thought about paying fol-
it yet.
Corporation executives who
strike poses when l interview
them. l am not a Fortune photo
grapher.
{. Corporation executives who
act proud of their poundage
It's like being proud of a leaky
heart.
Statesmen who say, First lei
me show you the advantages,
when you ask the price of ar
article.
Trouble With Advertisements
4 Ads that don't quote prices.
Ads that quote prices and ado
and up" without saying how
far.
Gas stations that display signs
with a giant "26" followed by 6
: midget 80" I drive on.
Ads that shout Guaranteed! =
without saying what is guaran.
teed or for how long.
Ads that say smoother,
better" or richer" without say
: ing what the product is smoother
4 better or richer than.
Worst of All
My most purplish choler i
caused by acquaintance Wit
: reach for lunch or bar checl
and say, Let me have it! II
charge it to my expense &C,
t count" or I'll take it off my in,
: come tax"
! To my conch-like ears they
t seem to be saying, You're {
!. sucker if you pay bills like thil
out Of your own pocket. Let mi
4 show you how a wise guy doe
it,"
: I still feel that in the end II
pay that tab when I pay higheI
a income taxes because smart fell
j lows cheat on theirs.
Released by Mcclure Newspaper
o Syndicatel
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-11
MUTUAL FUNDS

NEW YORK, Oct II Up, National
Association Securities Dealers. Inc
Noon QuOtationSj