davidaulloa/AmericanStories huggingface dataset:
Evening star., 1956-08-29
Board Chairman
TO Tell Ad Club
IOf Sears, Roebuck

The American success story
|of Sears. Roebuck g. Co. will
|highlight the Advertising Clubs
first meeting of the season at
1880 pm. Tuesday in the VIII
lard Hotel.
Theodore v. Houser, chairman
of the board of Sears, will tell
the advertising and merchandis-
ing saga. Hugh K. Dufield,
former Sears Washington man
|ager and now a vice president of
the company, will return as an
honored guest.
Other top Sears executives,
Including F. B. Mcconnell, pres
|ident. will be at the head table
with Government and business
leaders of the Metropolitan area.
They will pay tribute to the COM
|pany's current expansion pro-
gram. which eliminates locally
in the opening Of the new South
east retail store, largest in the
area, next Wednesday.
Mr.. Houser will outline Sears
rise since 1886 to an interna-
tional organization crossing 81
billion a year. Mr.. Houser Joined
the company in 1923 and sue
Iceeded Gen. Robert E. Wood as
board chairman in 1854.
Evening star., 1956-08-29
'Curtiss-Wright
Lifts Dividend

NEW YORK. Aug. 28 (R.-
Curtiss- Wright Corp. raised its
quarterly common stock divi-
dend today to 65 cents a share
In previous quarters this year
the company has paid SIS cents
The dividend is payable Sep
tember % to stockholders Of
record September 7.
Soon after the higher divi-
dend was announced. Curtiss-
Wright stock sold at $50 on the
New York Stock Exchange. a
gain of $1.37 over yesterdays
closing price.
Evening star., 1956-08-29
cHICAGOLIVESTOcK

CHICAGO. Aug. 90 A (USDA).--
SaIable hogs, 1900: slow, steady to 25
lower on butchers; weights around 230
lb and lighter showing most decline and
a few sales these weights of more than
20; few lots over 230 ID. also as much
as % lower; sows fairly active. mostly
steady; good shipping demand: bulk
Nos. ? and 3 grade lots 20O-225 ID.
I6.25-16.75; several lots 200-2l0 lb.
down to 1900; few lots Nos. / to 3.
mostly Nos. / and 2 200-225 lb. n. co.
17.25, and $50 head mostly No. l
2O5-230 lb. uniform in weight and grade
1850; most Nos. and 3 230-210 lb.
I6.75-1T.00; weights over 27u ID. scarce {:
larger lots sows 400 h.. and lighter
ID. and lighter 1915, and bulk 425-5O0
salabie cattle. $4,000; salable calves,
200; steers and heifers slow. steady to
so lower: cows moderately active, fully
steady; bulls slow steady to % lower;
vealers steady: stockers and feeders
about steady; a moderate supply Of
average prime to high prime steers,
30. 1881 90; a half a dozen load mostly
high prime 1,175-1 ,350-lb steers, 81 90;
bulk choice and prime steers, 20. So
5000; most prime steers, loo ID. and
heavier. 2S.75-30.00; few prime .025-
l ,100-lb. steers, 2S.00-30. 90; good to
low choice steers, 81 100-25. 90: a few
standard steers, II 00-20 .00;a few utility
and standard Holstein steers, 1880
1880: load Of prime 1,000-lb heifers,
26.50 a load or so held higher most
choice low prime heifers, % 50-25 90:
good to low choice light heifers. 1850
Evening star., 1956-08-29
ID. J. Kaufman Store
Gets New Fucude,
4th Since 1897

The D. j. kaufman mems
wear store is receiving a new
facade, its fourth since it was
founded in the same location in
1897.
Costing around 500, 900 the new
facade will be in a walnut color
with beige dividing mullions IN
a contemporary design.
IF downtown Washington is tc
continue to thrive, we must keep
our stores modern" declared Os-
car l. Dodek, executive vice
president and general manager
of the kaufman store.
His concern to keep shopper.
downtown led Mr.. Dodek to founc
the successful, non-prof1t Down.
town Park and Shop, Inc, Of
which he is chairman. "Provid.
Evening star., 1956-08-29
YOUR
MONEYS WORTH
BY SYLVIA PORTER

The era of 4 and Az per cent
mortgage money and next-to-
nothing down payments is dead.
Today. the ordinary homebuyer
must put down a bigger initial
payment, pay more interest on
his loan, meet stricter terms.
And the cost of a loan Isl
really the minor part of the
story. Much more important is
whether the borrower can get
the money at all.
Explanation Offered
Why? Here's the background
in simplest terms:
The Federal Reserve System is
convinced that the economy is
operating at virtual capacity
right now, is humping at the cell
ing. It's governors believe the
supply of materials and man.
power is simply not sufficient to
support all the expansion, build
ing, other projects in the works.
II money we're made cheap and
easy, that money would Just goI
chasing after the materials and
manpower-and the result would
be prices would go UP but no
more projects would be built.
If money is made expensive and
hard to get, the theory is many
projects would be built. III
money is made expensive and
hard to get. the theory is many
projects viii be postponed to a.
later date-when, presumably
there will be more materials and
manpower and we can expand
without infiationary price rises.
The Federal Reserve is doing
what it insists it must do with
the weapon 1t has-credit con-
troll to restrain imitation. It's
hoping you will help too by re-
sisting price rises.
It's a reason business failures
are so high. Without a loan
when he really needs it, a busi-
Lessman is sunk.
It's a reason many worthy
State. city and local projects are
being and will be shelved. No
money for the project-no pro-
ject.
It's an experiment in credit
control which also could BOOM
erang and badly. In short, it's
Ia deadly serious calculated risk
that the Federal Reserve is TAX
ing with a deadly serious aim.
It's no fun for borrower or
lender.
tcopyrlsht 1855. The HAN syndicate.
1nfl
Evening star., 1956-08-29
Life Underwriters Event
To Draw Many Women

A record number of insurance
women is expected to attend the
9th annual convention of the
National Association of Life Un.
derwriters at Hotel Statler here
September 1928.
officials said the number Of
women in the organization /.
now at an all-time high of l,700
They credit Mrs. Thelma Daven.
port of Northwestern Mutua
here, chairman of that group
with playing a leading role ii
increasing the number Is pei
cent over last years record.
Mrs. Davenport will preside al
q luncheon sponsored by thu
Committee of Women Life TN.
derwriters on Wednesday, Sep.
tember 26. The luncheon's theme
Foundation for a Better To.
morrow" suggested by Mrs. Nor.
man Vincent Peale. guest speaker
Mrs. Davenport will preside Mon.
day, September "a, at the annua
Evening star., 1956-08-29
FOREIGN EXCHANGE

NEW YORK, Aug. 20 tH9.--Foreign
exchange rates follow, Great Britain in
dollars, others in cents tunchanged An-
less otherwise noted9:
Canadian dollar in New York open
market I7s per cent premium or 101.S71a
u. s. cents SO
Europe; Great Britain lpoundl 50 7sssl
80 day futures 2.s7ss; 30 day fut o-es
2.77 3L32; Belgium ffranc) 200lA, up
.00ls; France (frAncl .2Sss; Germany
land (guilderD 26.lRIz; Italy Qiral .l6l4
Of cent, Portugal tescudo) $50;
Sweden kronal 1884: Switzerland
tfrancl 0reel 1884: Denmark lkrone)
Evening star., 1956-08-29
Credit Lid on Tight

Not since the depression in
the early 30s has money been as
hard and expensive to borrow
as today. The toughest credit
squeeze in quarter-century is
on. If you're not feeling it, it
is only because you're lucky
you're not trying to borrow.
It's deliberate turn Of the
credit screws being deliberately
engineered by the Federal Re-
serve System and the admins
tration is giving the Reserve free
dom to do what it thinks impera-
tive.
It's a program designed to
force the marginal" borrower
out Of the credit stream, to COM
pei a showdown in the expansion
plans of industry and in the
public works projects Of States
and localities--in order to cut
the pace Of today's economic
advance to a speed the Federal
Reserve believes is "sustainable"
and thus to curb infiationary
Ipressures.,
And it's having and will have
an impact on every seeker Of a
loan-from the highest-grade
borrower Of them all. the Treas
|ury. to the little homebuyer look
ing for q modest mortgage.
Interest Rates Mount
The Treasury is now paying
close to 3 per cent interest TO
borrow cash for only 80 days, the
highest rate since 1888. And pri-
vate lenders aren't scrambling to
take the paper even at that rate.
The banks are paying 3 per
cent interest to the Federal Re-
serve System to borrow cash
which they need to lend to busi-
Inessmen. consumers, home
builders hammering at their
doors. And the Federal Reserve
System is doing out the money.
Top-rated corporations are
paying a minimum Of 4 per cent
interest on loans they get from
the banks. Actually. they're pay
ing 5 per cent since the banks
are demanding that the corpora
tons maintain is to 20 per cent
of their loan on deposit. And
again. borrowers are standing IN
line.
The vast majority OF business
borrowers rare paying higher
rates. are being pushed into the
s per cent category. many are
getting only "A part Of the
amount they want. more and
more borrowers are being turned
down cold.
Evening star., 1956-08-29
C. 4 p. OfIiciaI Completes
As Years of Service

Yesterday. William Towers,
jr.. plant wire chief for the Ches-
Iapeake & Potomac Telephone
Go. of Virginia. completed As
years service. A three-diamond
emblem was presented to him in
honor Of the occasion.
In 1911, this Brooklyn IN. "
native began his telephone ca
reer in Alexandria, Va, as a
messenger. In 1929. he became
supervisor of plant operations
in nearby Virginia as plant wire
chief.
Evening star., 1956-08-29
|'57 Line of Pockords
Scheduled for Junuury

SOUTH BEND. Ind, Aug. 20
P.-Stude baker Packard Corp,
announced yesterday it will
bring out a line of 1857 Packards
in January. with production
starting in the South Bend plant
in December.
The announcement, made to
the firms Packard Clipper Deal
er Council, confirmed reports
that Packard manufacturing
would be moved from its Detroit
plant and denied rumors that
there would be no 1857 Packards.
Evening star., 1956-08-29

ing free downtown parking and
store modernization go hand in
hand" he declared.
David Baker is architect of the
new kaufman facade and Will
liam P. Lipscomb Co.. which con
structed the original building
nearly so years ago, is the
builder.
Evening star., 1956-08-29

commercial banks to meet un-
ptecedented demand for loans,
Mr.. Pyles said.
Shortly after midyear, the Sc
cprity Bank increased its rates
oh savings to 21a per cent. Pre-
'viously the Union Trusts Co. and
the Munsey Trust Co. paid the
higher rate.
Other District banks raised
lrates to 2 per cent in 1858 and
There was some discussion Of a
further increase to 21a per cent
Hast April. but the larger insti-
stutions elected to stand pat at
IL per cent and others Joined
ithem.
! A number of banks now
lmay review their policies as a
sresult Of the City Banks de-
icision, it was learned. They are
facing competition for savings
ifrom nearby banks paying 2h
sper cent as well as from savings
land loan institutions paying 8
sper cent and 31a per cent.
customers Main Concern
b Interest Payments
While stock ownership in a
savings and loan institution is
not the same type of a risk as a
bank savings deposit, many peo-
pie pay little attention to the
difference and seek the highest
interest rate. The multiplying
number of savings and loan
branches have added to the COM
petition.
The nearby banks also have
been adding new branches close
to the District Of Columbia line
and increasing their pulling
power for District funds. In
addition. the exodus to the sub
urbs has drawn savings power
from the District.
Demand for loans from COM
mercial banks has dwarfed any
thing on record and bankers
point out that the normal ex-
pansion for autumn hasn't even
started.
Where all the needed funds
are coming from they don't
know. The trend has been re-
fiected nationally by higher dis
count rates and commercial
rates.
Savings are needed both for
commercial projects and contin-
ued heavy demand for real estate
financing. Commercial banks are
permitted to lend only up to so
per cent Of their time deposits
on real estate. With Government
money, some Of the savings and
loan institutions can and do lend
more than 100 per cent of all
funds on real estate.
Evening star., 1956-08-29
Capitol Records Votes
Dividend of rs Cents

NEW YORK. Aug. 90 (P.-
Capitol Records. Inc, declared
la dividend of IS cents on the
common stock. payable Septem-
ber 80 to holders of record Sep
Itember Is. The company paid
lis cents each in March and
June, plus a 25-cent extra in
.Jline
Evening star., 1956-08-29
Record Price Paid

PITTSBURGH, Aug. 20 (P1.--
A big Pittsburgh area steel pro-
ducer has purchased No. lheavy
melting scrap at $50 a gross ton
the highest price ever paid for
steel scrap in the district. The
bulk of the sales have been
transacted at prices consider
ably below that figure.
Evening star., 1956-08-29

The simple facts speak for themselves.
This new GMC 25O-8 has 1SO v8 horsepower
standard No other truck in its class comes even
close to that.
The extra power delivers 276 foot-pounds of
truck-propelling torque. Over-the-road truckers
call it "guts" : and this GMC's got up to 33%
more than the others.
It's at the top Of the heap in frame-strength too.
In fact, there's as much as 10% more muscle" in
its chassis than you'll find in comparable trucks.
And there's more. For this rugged GMC has
Evening star., 1956-08-29

most most eommeSeia1 cows IvSl IS5al 55o.ov, 5o.
few standard cows up to 1880: Gamers
and cutters, S.00-11.25; utility and COM
mercial bulls, 13.50-15.00: cafiner and
cutter, ll.00-I3Q 90; vealers, 24.00 down;
few medium and good light yearling end
stock steers, 17.00-19 so: some common
stocker and feeder steers, 1925 and
1850.
Evening star., 1956-08-29
METAL QUOTATIONS

NEW YORK. Aug. 30 Q1.-Spot non-
ferrous metal prices today: Copper 80
40 cents a pound. Connecticut Valley
Lead 16 cents a pound. New York. Zinc
13lz cents pound, East st. Louis. Tin
591a cents q pound. New York. Foreign
silver 9034 cents per troy ounce, New
York. At Pittsburgh. scrap steel No.
heavy was quoted at 57.00-5S.00.
Evening star., 1956-08-29
Merqef TuIks Dropped

CHICAGO, Aug. % (F0.--
Merger negotiations between
Oliver Corp. and j. I. Case Co.
both farm equipment companies
have been dropped. Alva w
Phelps of Oliver announced.
Evening star., 1956-08-29
! ''a', 2 BUSINESS; n; 4;
City Bank Increases Rate
On Sovinqs to w Pct.
By DONALD B. HADLEY

DectoS OF the City Bank have authorized increase in
the interest rate paid time deposits from 2 per
effective September President John c. Pyles jr announced
today.
The been considered for of months and
Il in line with Nationwide savings
Evening star., 1956-08-29
Kay Jewelry Stores Stock
To Be offered for Sale

Kay Jewelry Stores. Inc, has
filed a registration statement
with the Securities g. Exchange
Commission for 100000 shares
of its 81 par capital stock. This
is to be offered for public sale
Through an underwriting group
headed by Lazard Freres g. Co.
The prospectus says Kay plans
to enter into a credit agreement
with the American Security &
Trust Co. for a revolving one
year line Of credit totaling Sc
million.
Evening star., 1956-08-29

business meeting Of women
underwriters.
Free orchids for the women
will be presented by the Wash
ington Office Of Acacia Life at
the fashion show, officials said.
The District of Columbia Lie
Underwriters Association, with
Mrs. Chester r. Jones as chair
man, will present the fashion
show and tea for wives of visiting
underwriters Tuesday, Septem-
Der Is.
Evening star., 1956-08-29

$500 lb front axles and 1900 lb. rear = unsur-
passed in its weight-bracket. 1t has extra-size
brakes and springs.
Add it all up and you can see what GMC Blue
Chip stamina really means. Especially when you
team it with GMC's dependable performance
and Hydra-Matic' savings.
For here's truck that not only delivers the
goods at lowest cost - but keeps delivering long
after an ordinary truck would have faded out.
Come in and find out about having one start
work for you! optional at extra cost
Evening star., 1956-08-29
MUTUAL FUNDS

NEW YORK, Aug. 20 P).-(National
Association Securities Dealers. Inc.):
lNnnn niniinnsA
, 1956-11-05
Lieut.. Duvid Henry is
Grududte Of Ar1ny's
A.A. & GIN. School

FORT BLISS ; Second Lieut.
David E. Henry, q, son of
Mr.. and Mrs. Irwin w. A.
Henry, recently was gradual
ed from the Army's Antiair-
craft Artillery and Guided Mis-
sile School at Fort Bliss, Tex.
He completed the schools
surface-to-air missile officers
basic course The 13-week
course trained him in all thee
retical and practical aspects
Of the Nike guided missile.
Lieut.. Henry entered the
Continued on page a
PRESIDENTIAL CANDIDATE
, 1956-11-05
HIGH Winds Cause
Greet DUmdge in
F~rederiksted

High winds struck ST. Croix
as a result of the hurricane
which passed by, an estimated
700 miles off Puerto Rico.
Torrential rainfall caused.
cisterns to overflow and even
some damage to roads and
highways.
The Frederiksted area suf-
fered heavy damage. Every
boat was dashed. up on the
land; the dock was also da-
mayed, chunks Of the concrete
were thrown up by the waves
onto the street.
, 1956-11-05
Storm 'Grettu' Posses
700 Miles Off Puerto
Rico; v. /. Safe

The storm "Gretta" passed
seven hundred miles off Puer
to Rico this morning at 10.
The storm has shown con
siderably increase in intensity
Of this dangerous storm. The
last report stated that the
storm was north Latitude I'll
Longitude COL west. It's for
ward motion has increased &
moving northeast at "a miles
an hour.
, 1956-11-05

ket against 40 and a half for
stevenson-K efauver.
Democrats, of course, are
confident that they too will
sweep the country. It is pre-
dicted by neutral observers
that there viii be a Republic
can President with a Demo-
cratic Congress.
, 1956-11-05
Eisenhower Has
Edge Over Adldi
Stevenson

President Eisenhower has
the edge on Adlai Stevenson,'
as the election draws near, ac-
cording to reports from the
mainland.
The Gallup poll estimates
that President Eisenhower''s
popularity has increased tre-
mehdously during the past
week over Stevenson. The
poll shows an average of SO
for the Eisenhower-Nixon tic
, 1956-11-05
g. Fl. S. Coronation
Will Be Held at q
Boil Sunday at Schl.

A grand Miss CHS. Coro-
nation Ball on Sunday night,
November II, at the High
School. The Coronation cere-
mony will be held at 9 o'clock;
the coronation ball at 10.
, 1956-11-05
EDITOR al
WE ASK SUPPORT FOR MRS. BRODHURsT

AT TIL POINT in the local campaign this paper goes
along with the local Republicans in endorsing the election OF
Mrs. Anna Brodhurst, who is running as an Independent can
|ddate for the District Of ST. Croix. This type Of endorsement
shows clearly what we have been saying right along that
strict party lines are not observed as intensively as they are
on the mainland, and the reasons are quite obvious.
WHEN Sill first announced her candidacy this paper
quickly endorsed Mrs. Brodhurst, and gave reasons, which
we believe were quite valid, and to which everyone would
agree. As the campaign has progressed, and as opinions have
been expressed from many quarters, the stand taken in sup7
port Of this candidate seems fully justified.
IN H PAST the Senate has won the. dubious distinc-
lion of Directing for the mere sake Of objecting, or defying
for no other reason than that it had the power to do so.
Aseas result Of some of these attitudes these Islands have re-
Iceived most unfavorable publicity from the mainland, and at
one time it was thought Gas indeed is the case now that we
were adversely affecting our position.
WE NEED IN the Senate men and women whose con-
Germ for the welfare of these Islands is unqueStioned, who look
away, over and above the Immediate, petty problems and
differences. and who would be willing to make their contri-
button for the common good. Too often have we seen the
the Senate defeat the very purpose for which IT was work
ing. Too often has that body veered away from a sound
course only to offer opposition Just for the sake Of opposition,
and too often has that same body missed IFS chances because
It failed to see the greater good.
THE CANDIDATES endorsed by the local Republicans
have won the respect of their fellow citizens, not only Of St.
Croix, but the entire group as well. That being the case it is
not too much to ask that Mrs. Broduhrst be given the support
at the polls, which she deserves, and which she could use for
the good Of us all.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-08-14
Stevenson Followers Stand Firm

that he didn't mean approve"
The favorite argument now
heard is that you don't APP
prove or disapprove Supreme
Court rulings-you either obey
and support them or you dis
obey and fail to support or en-
force them.
1t looks now as II Senator
Ketauver made a mistake in
releasing his delegates so many
days before the convention
met. Had he held on. there
would have been a three-cor-
nered fight here and Mr.. Tru-
man might never have taken
the chance he did in coming
out for Gov. Hartman.
The net result would have
been that, when the Kefauver
delegates were told their hero
was swinging to Mr.. Steven
son, it would have created a
band wagon" psychology OF
great Importance on the day
before the balloting starts.
1t is argued, on the other
hand, that for several days
now Mr.. Stevenson's band
wagon strength has been
building up because Of what
Senator Kefauver did. Much
will depend on whether the
Tennessee Senator is himself
considered for the vice presi-
dency. His own State isn't so
sure about it, as there's a
boomlet on, too. for Senator
Gore, also of Tennessee, and
one of the ablest Of the
younger group in the Senate.
More and more jockeying
can be expected, with subtle
hints TO various delegations
from the Stevenson and Harri-
man managers that the vice
presidency might go to their
States.
In the final analysis, there's
always a good political reason
advanced in picking the vice
presidential candidate = he
must bring strength to the
national ticket. Gov. Meyner
of New Jersey is a good
example. He is strong in a
State that the Democrats
desperately need to win.
Senator Humphrey brings
strength from Minnesota.
Missouri is in the bag, some
Democratic strategists say, so
they are not counting on Sem
ator Symington for the Sec
ond spot, although the
Southerners like him. Senator
Lyndon johnson of Texas, Of
course, could emerge a real
peace offering to the South
by this convention. 1t looks
more and more like a Steven
son-M eyner ticket or a
Stevenson-Johnson campaign
button.
Reproduction Rishts Reserved
Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-08-14
Former President Seen Out in Cold
With Likely Stevenson Nomination

result would be a compromise
Any such compromise would
be only with the consent of the
Southern leaders, putting the
party closer under the thumb
Of the Southerners. And this is
Just what Humans friends say
he is trying to avoid by cham
pioning Hartman.
But, even If it does not reach
the ultimate stage Of a dark
horse compromise candidate. a
confused situation that Tru-
man created by his meddling
has strengthened the position
OF the Southerners.
Immediately they began to
exploit their bolstered balance
OF power on behalf Of other
objectives-the platform and
candidates for President and
Vice President--with results
that may not be too pleasing
to Truman and that also might
reduce the effectiveness Of the
party outside Of the South
in the November election.
Humans kingmaking north
Of the Mason and Dixon line
opened the door wide to a
kingmaker south OF the line
who revels in 1t. but who up
to this point found little OPP
portunity in the apparently
preordained nomination Of
Stevenson.
So naturally Senator Lyn-
don r. johnson Of Texas
grabbed the chance. Promptly.