davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-06-23
YOUR
MONEYS WORTH
Second Part of Finance Dictionary

In Thursdays column, ]
started this little dictionary"
of government finance with q
short description Of the United
States Government market. the
basic market In our land. Today,
some more definitions.
Monetary Policy
In our country. the Central
Bank is called the Federal Re-
serve System. It has the vital
power to create money.
BY its operations in the United
States Government market
mostly in the 9l-day bills de-
!scribed in the earlier column
the Federal Reserve System car
add TO the funds the Nations
banks have to lend and invest
or 1t can contract the funds the
Nations banks have to lend and
invest. Thus. it can control the
growth in our country's money
supply to a pace it deems proper
This. then. is monetary policy.
1t represents the decision of the
policy-making authorities in the
Federal Reserve System on the
amount Of money and credit the
economy needs to operate at a
high and stable level of pros
pertty. During World War II
and the first postwar years, the
Federal Reserve Systems free
dom to decide how much credit
should be available was riRidly
limited. but it is now operating
with q tremendous amount OF
independence.
And today its monetary policy
operations are geared toward
curbing the expansion Of the
money supply and RESTRICTING
credit. for Federal Reserve
authorities are convinced that
II everyone who wanted TO bor-
row today could borrow easily
and cheaply this would only
intensity the price-wage spiral
This is why interest rates have
risen to the highest levels in q
quarter-century; interest rates
are really only "the price OF
money" and when anything "a
IN demand and in short supply,
its price goes up.
Tight money" in summary
Is due TO the fact that the demand
Tor credit is greater than the
supply Of savings and the Fed
eral System is not pumping new
money into the economy. The
United States Treasury is going
along with the Federal Reserves
credit restriction policy = and
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-06-23
FurnI.hea ), The Associates Press.

katee OF divloenQD IN the forenoine
i I.,,I last 9EsTtsris, @ s;@i'snnasI dseIs;
O. ~. sstr .,,, SiVi6ends are no, included
p 1857 plus ssocE dividend . PSiq i esi
estimatse eaAb value on eE-divldend or
,.. this an s': sscumu REssl.r'S .,s e SIIS
Siyd.nS o%l,is ssis.isss q ' 20 ss sssI
ssI's o psls HpSiss Pl ss'l ssoes All w.
dend PAYABLE p stoeh during 1915
ss.dstSiSus sn a ysu' Sp ssSSyISsnd ,s
dend cid Called xEx dividend S.dis
~ distribution II 81 riEhts ~ Nth.
gut warrants wv With warrants Wd
When distributed vi When Issued nd
nsst aal dellvefyl In bankruptcy %
Isceiversnlp o. being reorganized under
oumed by such companies.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-06-23
Herbert r. Sacks
Elected to Lead
Paper Merchants

Herbert F. Sacks, secretary
and general manager Of s.
Freedman & Sons, Inc, has
been elected president Of the
District Paper Merchants Asso-
citation. it was announced yes
terday.
Other new officers include:
Kenelm Dallam, Barton Duer q
Koch Co., first vice president:
Samuel Weistock, Weistock
Paper Co.. second vice president;
Robert Schombert. Frank Par
sons Paper Co., secretary, and
John Werres. r. p. Andrews
Paper Co.. treasurer.
The new president has been
with the Freedman firm since
1888. He is a graduate of CO.
lumbus DIVERSITY and a member
Of the District Bar.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-06-23
1Y SYLVIA PORTER

under today's conditions, 1t
really has no alternative.
Actually. the Federal Reserve
System could defy the President
on this policy. It is answerable
only to Congress.
Fiscal Policy
This refers mostly to the way
the Treasury handles the public
debt and to its attitude on taxes.
With every type Of borrower
hammering at lenders doors for
funds. with credit tight and in
terest rates way up, the Treasury
is following a debt management
policy Of selling primarily short
term securities to the Nations
banks and corporations to bor-
row new money and pay Oh
maturing !. o. U.S.. It's not the
policy the Treasury planned to
follow. but it figures it can't do
anything else today.
The Discount Rate
This is the interest rate which
the IL Federal Reserve Banks
charge for secured loans to the
thousands Of commercial banks
which belong to the Federal
Reserve System. A bank which
borrows from the Federal Re-
serve today has to pay q discount
rate OF 5 per cent. This rate is
the basis for all other interest
rates.
The Prime Rate
This Is the minimum interest
rate charged by commercial
banks for loans-and the prime
rate is available only to q limited
number Of the Nations top
credit risks. 1t is now 4 per
cent.
The money debate in our
country is still in its infancy
Clip and save this little diction-
airy; you'll find 1t useful for
years to come.
distributed 1857 by Bell Syndicate. Inc. J
tAll Rights Reserved
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-06-23
N. Y. BANK STOCKS

NEW. YORK. June 90 R.-Nationai
Association Securities Dealers, Inc:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-06-23
NEW YORK COTTON

:, NEW YORK, June 2s M.-Ths cotton
turned soft for 4 few days and then
sion. Active futures contracts on one
New York Cotton Exchange ranged from
w cents bale lover TO Sob q bale
The nearby July contracts reR,stered
the only decline, while all ether fIitures
were 9heAd and made new life Of con-
9trsnst hening factors during the week
included Secretary OF Agriculture Ben-
sons statement that he probably viii
boost The support price for the 1867
CROP above the ~ per cent Of parity
Ing doubts over the likelihood Of any
new farm price LEGISLATION this year.
Onerings OF cotton we're furnished,
and prom. taking attributed 10 technical
conNderations and improved weather
conditions over much Of the cotton belt.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-06-23

Jos. M. zamoiski Co., Zenith
distributor for Washington and
Baltimore, will hold a special
showing of the new 1858 Zenith
lines for area dealers on Tues
day. Wednesday and Thursday
at 2122 Twenty fourth place NE
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-06-23

~ HSin III S!fA lS 81 i hs's I rs Asked
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-06-23
OVER THE COUNTER

Ths following bid and asked prices ere
obtained from the National Association
Of Securities Dealers. Inc. and other
not represent actual transactions, they
are intended IS q guide to the approx
mate range within which these securities
.bid1 u bought Indicated b. the
askedJ ct the time Of Compilation
ll2iQO noons Friday. Origin Of any
quotation furnished on request.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-06-23

sInit Of trading 70 shares or sales IN fun Rates
ssssrson nsss cS.rEs. noted sDscsi o. extra
iSSSsi Syid.as 6sslsr:s O. s1i Pssd
:s-aiyids1d g ssd;sriSusiop date Declare. Sf psid
SsnS e sPlis;HD R'eIsrsa q psid thi: year e
year dividend omitted deferred pr no 1eton taken
us a: soeE SivS.nS .enr:4 q SslS y aSSe
Se:ss,matsd CAP value Sn
dsnd x:dis b dlstributIon n q riE6ts Nv WITH
trbu,.d ~ vh.r W2 TadTTNants vd When as.
bankuptey rsceiyershp or being fecrsanssd under
companies -
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-13
,~N01y young outlook in home fashions

You see it reflected throughout all
onr stores in our homefurnishings
collections in the look Of quiet
good taste with particular emphasis
on versatility, carefree "upkeep"
and lOng.range stamina.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-13
the tasteful textured fabrics, smooth and
modest prices make spring decorating exciting
WASHABLE SURE-FIT SLIPCOVERS
chairs IS
sofas 22.95

sWe-tt sps give such light refreshed look
washable tobr
their smooth fit gives furniture
back and StoFost anchors
riding they look like
chairs Upper cIosn make them Choose
floral beige Convoy, Provincial green Moto
contemporary Medley ooy green
It'll serson
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-13

Washington Store open Thursdays $50 pm. Chevy
Corners Falls Church. Va) and Alexandria, oO $3.50 pm.
Tabor City tribune. (Tabor City, N.C.) 1946-1991, 1957-07-31
New Highway
Director Has
Important Job

Though he probably has more
new responsibilities than arr
man in North Cardinals state
government, Director Of Hi,.h-
ways Bill Babcock spends a good
part of every day explaining to
the public just where his respon-
sibility and authority end.
II don't speak Oh policy nat
ters," said Babcock recently at
his first "briefing" of Raleigh
press and radio repol tiers, Il can
recommend only TO the full
seven-man State Highway Com
mission. My job is much like
that of a city or county manag-
er. l gather facts and make en-
recommendations; but
it is up to the Commission to set
policies. I really need you PEG
pies help in getting that across
to the public"
The prime purpose of the
meeting was to explain the
huge and somewhat complicated
budget. It's big but
not as big as some people think ."
said the director.
Out of an overall S4l3 million
Tabor City tribune. (Tabor City, N.C.) 1946-1991, 1957-07-31

budget for the next biennium,
almost s82 million must be TAX
en- out for operation of the Motor
Vehicles Department, the bus
inspections of the Utilities COM
mission, the Prison Department,
the Probation Commission, the
Board of Paroles, Ietirement'
and pensions, State aid to muir
'icipalities and debt service, Bah
cock said. This leaves a balance
of 1881 .620.63O for actual high
way operations during the next
two years.
Actions of the past Legislature
may further reduce highway tax
collections by So million dollars
over the next two years rather
than the S88O,0O0 per year loss
estimated by the lawmakers,
said Chief Engineer ". II. RoC
crS, Jr.
But whether the revenue ioTS
is So million or Sl,760,000. t
will be relatively unimportaut
in the overall $685. million hig'r-
way budget, he auoed.
II was figured that the high o
way fund would be reduced
Sl8O,000 per year by a cut from
SIX to three per cent in franchise
tar of intcr-city bus companies.
Another S350,000 would be lest,
1t is estimated from refundinS
6 cents per gallon gasoline tax
paid on motor fuel used by the
local governments, and another
S350,O00 by raising from five TO
six cents per gallon to refund to
.non-highway fuel users.
The estimate on refunds tol
non-highway users. chiefly far
merS. should be raised to $7OO.-l
600 per year because of provi-
SionS making it easier to obtain
the refunds.
Highway officials also esti-
mated loss of 100000 fr )m
Il law which reduced from one
third to onc-fifth the amount
cities must pay on acquiriI.gI
rights of way for highways ito
ugh municipalities.
H"So'lI'c taxes al, eNpecte toI
u 'i'I 9i""'1o7 DO I'M" 'fe u 81
""y "'' an" so-,o="'4o3 from
l," oo scillcI' registration; AMI
> oo''oo~ from lIS f'SiS'fa =
''on'
- pC ooc 'ui'u' OF $780,
lfS''S- Plus an estimated credit,
Dd'"'lCS as Oh July l, OF SZ5,Z35, =
Tabor City tribune. (Tabor City, N.C.) 1946-1991, 1957-07-31

way employees. but also for en-
ployeeS OF Motor Vehicles De-
partmcnt, Utilities Commission.
Prison Department. Probation
commission. and Board of Pa
roleS). a total of So million MAS
allocated for maintenance anu
improvements of highways in
cities and towns. such as. cour-
~ road connections and Stat-I
routes within municipalities. An
other 81 million was set up for}
oettermentS of State secondary
and or county roads. A total oil
Tabor City tribune. (Tabor City, N.C.) 1946-1991, 1957-07-31

S2OO.OOO was allotted for scenic
highways. mostly GGI purchase
OF land for the Blue Ridge Park
way. Only Sl50,00C was helu in
reserve for contingencies.
Babcock pointed OF, that bet
tcrmcntS' mean imp ovemcnr of
an existing highway facility %
higher engineering standards or
hl@hcr traffic capacity Will
maintenance" meals rcstoriagI
the highway facility 10 its org
nal condition.
Tabor City tribune. (Tabor City, N.C.) 1946-1991, 1957-07-31
All CLUB SCHOLARSHIP GRADUATES
MEET YANKEES CASEY STENCIL

group of young agricultural students who have Just
graduated from college with the help of ESQ 4H Club
Schoiarshs and their hosts Manager Casey ScnscI
me New York Yankees The young quests
to celebrate the completion of their educaons A hirhet
me week visit chance to Manager Casey Sicnge
anu many OF his New York Yankee prior ball game
at Yankee Stadium. Co.
The Republican. [volume] (Oakland, Md.) 1877-current, 1957-03-28
TRUSTEES SALE
OF
VALUABLE REAL ESTATE
Situate In Election Districts
Nos. 2 and ), Garrett
County, Maryland

Under and by virtue of de-
cree of the Circuit Court for Gar
rett County, Maryland, passed on
the goth day of March, 1857, in a
cause wherein Earl l.. Coddington,
ct al, are plaintiffs and Laura Cod
dington, ct al, are defendants, the
same being No. 4721 Equity in said
Court, l, the undersigned trustee,
duly appointed by said Court, do
hereby give notice that on
The Republican. [volume] (Oakland, Md.) 1877-current, 1957-03-28
Notice
FOR PERMIT TO
APPROPRIATE AND TAKE
GROUND WATER

In compliance with the provisions
of Chapter 526, Acts of 1888, Mary
land Department of Forests and
Parks, Annapolis, Maryland, has
made application for a permit to
use minimum of gallons, maxi
mum of 5000 gallons, and an aver
age of $500 gallons of water daily
during IL months of the year from
one we'll having a diameter of 6
inches, and depth of about $50 feet,
located on the premises of the APP
plicant at Deep Creek Lake State
Park, Garrett County, Maryland,
8 miles North of Oakland, Mary
land, about 5 miles f of U. s. Rt.
PIG and l mile north of the Thayer-
ville-New Germany Rd, on East
side of Deep Creek Lake.
The water will be used for the
following purposes: Drinking water
and sanitary facilities
A public hearing on this appli-
cation will be held at the Depart
ment of Geology, Mines and Water
Resources, Room 102 Latrobe Hall,
The Johns Hopkins University, Bal
timOre IS, Md, at 200 p. m, on
Monday, April %, 1857
Objections to the granting of this
permit may be presented orally or
in writing at this hearing.
Department of Geology.
Mines and Water Resources.
ADV Apt
The Republican. [volume] (Oakland, Md.) 1877-current, 1957-03-28
NOTICE TO BIDDERS

The County Roads Board of Gar
rett County, Roads Department,
will receive bids for the purchase
of approximately 10000 lbs. Dyna-
mite. Quote bid on ammonia,
standard gelatin and straight gela-
tin.
Dynamite to be furnished in
both regular and Pinch sticks
same to be supplied as ordered to
any point designated by engineer,
also approximately 10000 electric
blasting caps, quote-6, g. TO-, ~,
16' and 20 length wires.
Supplier will be required to
furnish without cost the services
of a factory representative to spot
holes for well drilling, also load
and fire same, supplying necessary
large stick powder to job site when
needed to avoid storage.
Bids will be received until April
8, 1857, at 8 a. m. at which time
they will be opened in the County
Roads Engineers office.
Terms of payment: Net. Within
80 days of purchase.
The Garrett County Roads Board
reserve the right to reject any and
all bids.
PAUL w. DEWITT,
Supervisor
ADV. 3-3t
The Republican. [volume] (Oakland, Md.) 1877-current, 1957-03-28
Business Leaders
Are Recognized AS
Gold Seal Chapter

The Northern High Chapter of
the Future Business Leaders of
America has been recognized as
a Gold Seal Chapter in Maryland.
To be a Gold Seal Chapter the
chapter had to write report and
submit it to the National head
quarters in Washington, d. c., to
be evaluated by a national COM
mittee. This convention was held
in June, 1856, in Washington, but
the certificate has just been re-
ceived by the Northern Chapter.
Northern is one of the three
chapters in Maryland to receive
this award.
The Republican. [volume] (Oakland, Md.) 1877-current, 1957-03-28

Rev. Paul S. Parker, of Deep
Creek, will be guest speaker at the
Loeb Lynn Baptist church, Sunday
night. Rev. and Mrs W. G. Rogers
are taking short vacation visiting
relatives in Brooklyn, N. Y. There
will be baptismal service follow
ing the sermon.
Mr. and Mrs. William Nicholson
and sons, Wayne and Wilven, of
Seat Pleasant. spent the weekend
with Mr.. Nicholson's parents, Mr.
and Mrs. Harry Nicholson. Other
Sunday dinner guests were Mrs.
Shillingburg and son Lloyd, of
Steyer.
Mrs. Clyde Calhoun and infant
daughter Lois Elaine, returned
home Saturday
Murray Paugh is patient in the
Garrett County Memorial hospital,
where he underwent surgery, Mon
day.
Miss Jacqueline Groves, of Ar
lington, Va. visited her home here
over the weekend.
Mrs. Florence Harris, of Crowns
vile, is visiting her son-in-laW and
The Republican. [volume] (Oakland, Md.) 1877-current, 1957-03-28
n e w S
FROM THE
Ruth Enlow Library
BY EDITH BROCK

A book in memory of Daniel f.
Orendorf is being presented by
Mr.. and Mrs. II. w. Meese
Other donations of books and
magazines have been received this
week from Mrs. Wilson X. Lever
ing, Mrs. Fl. c. Riggs, Mr.. and Mrs.
George Hanst, Harry Porter, and
Steve and Monty Pagenhardt.
Among the new novels are;
"Birthright' by Lettie Rogers; For
Every Favor" by Ruby Ferguson;
Never Too Late by Angela Thir-
kell; Sword and Scalpel," by Frank
Slaughter; The Last Crusader" by
Louis De Wohl; and Seats of the
Mighty" by Alice Harwood.
The Republican. [volume] (Oakland, Md.) 1877-current, 1957-03-28

a member of the Junior Art club,
and member of the Junior Choir
us. She is taking the following SUBJ
jects: Core, Music, General science,
Physical Education, Home Eco
Monies and Algebra.
She is active in many athletic
activities, such as fieldball, vol
leyball, basketball, and has par
ticipated in assemblies and school
wide programs given by the Choir
us. She is very much interested
in Home Economics and her main
hobby is cooking. Her favorite
foods are strawberry shortcake and
southern fried chicken.
Judy is a rock ana rolf fan
and her favorite singer is Tommy
The Republican. [volume] (Oakland, Md.) 1877-current, 1957-03-28

Sands. Her opinion of Elvis Pres
ley is, Il enjoy his singing, but l
don't enjoy seeing him." Her fav-
orite movie stars are Rock Hudson
and Debbie Reynolds. She is now
making a collection of girl and
boy dolls.
Before attending Northern High
Judy was a student at the johnson
Elementary School near Frostburg.
She is a member of the st. Mich
aers Catholic Church in Frost
burg. Judy is a daughter of Mr..
and Mrs. Arvel Lewis Minick, of
Route 2, near Frostburg.
The Republican. [volume] (Oakland, Md.) 1877-current, 1957-03-28
Mt. Lake PlgT'E NeIUS

daughter, Mr.. and Mrs. Carlton
Tasker.
Mr.. and Mrs. Marley Chase have
moved into the Calls apartment
recently vacated by the Grover
King family. Mr.. Chase is manager
of Eastern States cooperative.
Mrs. Walter Bittinger spent the
weekend in Baltimore visiting her
son and family, Mr. and Mrs. Don
aid Bittinger.
Miss Jane Humbertson is visit
ing her parents, Mr.. and Mrs. Ar
thur Humbertson.
Visitors at the home of Mr.. and
Mrs Daniel Wrightsman, ST., on
Sunday, were Mrs. Louise Van
meter, Mrs. Paul Burkett and Mrs.
Glenn DeVine, of Cumberland; Mrs.
Richard Macy, of Baltimore; Bran
son Brady and Mr. and Mrs. Albert
Harvey and sons, of Loeb Lynn.
Mrs. Ray Paugh returned to her
home from the hospital, Friday.
Mrs. Sara Friend has returned to
her home here after spending the
winter in Wellsburg, w. Va, and
Lorraine, Ohio.
Harold Mosser. of McHenry, and
Miss Mary Ann Calls, enroute from
Washington, d. c., for the week
end with their parents, were vic
tins of an accident to Mr., Mos
ser's car which was badly damaged.
Both were able to return to their
work
Mrs. Nell Calls has received
word from her daughter, Mrs. Bill
Bech, who with her husband have
returned to the United States. They
arrived in San Francisco just in
time to experience the earthquake
last Friday. They will later be sta
toned at Quantico, Va.
Miss Barbara OFT, Washington,
d. c., has just returned from
vacation in Florida and spent the
weekend with her parents, Mr..
and Mrs. William OFT.
The Republican. [volume] (Oakland, Md.) 1877-current, 1957-03-28
Why: Good-Tine
Charlie" Suffers
Uneasy Bladder

Such common thing a. unwise eating
or drinking may be source of mild, but
annoying bladder Notwithstanding you
feel restless, tense. and uncomfortable. And
if restless nights. with nagging backache.
headache or muscular aches and pains due
TO over-eXertion. strain or emotional upset,
are adding to your misery - don't wait -
try Doan's Pills.
Doan's Pills have three outstanding adj
vantages-act in three ways for your speedy
return TO comfort. 1-They have an casing
soothing effect on bladder irritations. "a
fast pain-relieving action on nagging back
ache, headaches, muscular aches and pains.
ga wonderfully mild diuretic action thru
the kidneys, tending to increase the output
of the 10 miles of kidney tubes. So, get the
same happy relief millions have enjoyed for
over 60 years. Ask for new. large, economy
size and save money. Get Doan's Pills today
The Republican. [volume] (Oakland, Md.) 1877-current, 1957-03-28
Southern Speaks
By EDGEL SERENO
Art Exhibit Set

Art Exhibit Set
The annual Teen Age Art Exhibit
sponsored by the Garrett Branch
of the American Association of
University Women has been sched-
uled for April l through Is and
will be held at the Ruth Enlow Lii
brary in Oakland.
Entries are limited to work done
by 9th. 10th, 18th and 18th grade
students.
Pictures must be in by March 20.
Sadie Hawkins Dance
The Radio and Electronics Club
will celebrate Sadie Hawkins Day"
by sponsoring square dance on
Saturday evening, March 30, from
500 to HOO in the Southern High
cafeteria.
Prices will be SOC and 75c.
This will be a girl-ask-boy affair.
Grades Again
The third marking period at
Southern ended March q, and the
report cards will be distributed on
Friday, April 5.
One-Act Plays Scheduled
The Senior High Dramatics Club
will present two plays for the stu
dents at Southern on Friday, March
90. The public is also invited
The two plays are The Prettiest
Girl in Town" and "Wilbur's Honey
bee"
The Junior High will see the
plays in the morning and the Sen
ior high in the afternoon.
Price will be Csc for students
and adults.
March Issue Distributed
The school newspaper, The
Acorn, was distributed to the stu
dents on Tuesday, March 26.
Textbooks Reviewed
Plans for next year are underway
as teachers arc reviewing textbooks
which may be bought for use next
year.
Parent-Son-Daughter Banquet
The F. F. A. and F. H. A. will
sponsor a banquet Thursday eve
ming, March %, at ZOO in the South
crn High School Cafeteria This is
an annual affair. Junior f. II. A.
students will serve the meal.
F. F. A. boys will have on OK
hibit potatoes, corn, oats, wheat,
buckwhcat, barley, hay, eggs, ma
pie syrup products, honey, and
shop projects.
F. H. A. girls will exhibit ribbon
pins. basket weaving, drawing eX-
hibits
F II. A. girls will be awarded
six prizes. Judges will be Mrs.
Goldie Bittle, Miss Bernice Idle
man and Miss Tobin.
Entertainment will be provided
by students.
Invitations have been sent TO par
ents and faculty.
The Republican. [volume] (Oakland, Md.) 1877-current, 1957-03-28
Judy Minick, Junior
FILA State President

Miss Judy Minick, ninth grade
student at Northern High, has been
State President of the
Junior Future Homemakers Of
America.
Activities
Judy is president of the FILA,
The Republican. [volume] (Oakland, Md.) 1877-current, 1957-03-28

State Senator James Weinroth of
Cecil county died March % in
Philadelphia hospital after brain
operation. He was 49,