davidaulloa/AmericanStories huggingface dataset:
Evening star., 1957-04-17
tAT&T Facing
Need 10 Raise
Vast Capital

NEW YORK, April II P).-
The American Telephone q Tele-
graph Co. is faced with the task
of raising new capital on a scale
never before attempted by any
business. President Frederick r.
Kappel said today.
Last year the Bell Telephone
System spent more than $2.2 bill
lion on construction and it has
reported plans to spend even
more in 1867. he said in speech
at the annual meeting.
ITO meet these needs we must
obtain great sums of money from
investors at time when money
is tight and interest rates are
high" Mr.. Kappel said. ITO do
this. we must win and keep the
favor of investors in competition
with all industry. including nom
regulated companies which earn
two or three or more times as
much on their investments as we
have been able to earn under
public regulation"
He declared that the Bell Sys-
tenn. in order to have reasonable
assurance OF attracting all the
capital it needs, should have
earnings substantially above the
present level"
Bell earnings in 1856 were
equal to $l3.16 a share of AT& .
stock compared with 1910 a
share in 1855. Bell System earn
ings on total capital were 6.8
per cent, the same as in 1855.
AT&Ts assets totaled SIG. .206.- :
ST., ,2S3, largest Of any American
private corporate enterprise, up
from $l4.479, ,641. .983 In 1855.
I'm some parts of the coun-
try" Mr.. Kappel said. "in spite
OF all the expansion we have al
ready accomplished, many Gus
toners are still having to wait
for service until we can put in
more lines. A much larger num-
Der have only what they con-
slider partial service-a party
line"
Evening star., 1957-04-17
'3s', e BUSINESS
No Depression This Year;
Economist Sees Upswing
BY DONALD B. HADLEY

looking for depression from expert you
will not find one soon-at least this year.
Franklin Cole prominent economist told several
hundred business and financial leaders night
upswing in business is due autumn
Evening star., 1957-04-17
CHICAGOLIVESTOCK

CHICAGO. April IL an. tusDAl -
salaole hogs $500: active. generally %
70 80 higher on butchers: instances 50
hlRher on weights under 40 ID. in
creased supply OF sowS SLOW; few under
500 10 steady TO strong early: but bulk
Al weiehts steady 70 IS lower: few late
- or more lower; fair shipping demand
mlxsd Ed lgO.230 ID butchers Is. 40
mostly l-2 these weights sorted for grade
~. ~ 90, around i5O head al NJ 40.
no 2-3 24O-250 ID lS15-Is90: with 4
lev selected around 240 10 50. small
voieme mostly 3 2s0-3l0 10 I7.75-iR.Is;
small lots up TO- $40 ID down to l7,25:
larger lots mixed grade 9G(b-5sJ 10 sows
b,25- 10 ,T5; few selected lots 3Oo-j50
ID as high as 1898
Salable Cattle $500: calves 600 ae.
I'VE; trade on slaughter steers grading
eholce and below and all gradeS heifers
.nlly 80 higher; few load OF choice
steers above 400 10 and a feg load
prime steers no better than steady;
COWS strong to so higher. bulls strong
70 20 higher. yealers steady: prime
daIa 10 steers .f25.. 1868 ID steers
g 90: 1850 ID 2725: few loads OF high
enolee ana prime steers 1l0O-l275 10
20 1926 50 bulk choice steers and
yarlings 20, ,0O-25.O0; good lguu-a2 90.
seveIal load q high choice and prime
- so: 5000 i9.o0-ei So: standard ii 5n-
TOO; few standard cows 10 00-l : 90:
utl'y ana commercial I3.5O-i5. so; can.
ners and cutters 10 5O-l325: utility
and commercial bulls l55O-i7.5; good
choice 26 90
Evening star., 1957-04-17
As They See 1t

You're in Washington having
lunch with a half-dozen top men
in Government. They have much
more information than you
about what's going on in the
economy today and they're in
positions to influence Govern
ment policy. This is a private
lunch. you know the men well
they trust you not to quote
them directly and you're all
talking freely.
Here are some questions I'll bet
you would ask and here is a
summary Of the answers they
would give.
How's business now?
Business is fundamentally
strong, not weak. There are soft
spots everybody can see but they
are not unhealthy spots. There
is no question that the buoyancy
has gone out of the economy. but
that's nothing to worry about
We see no clear-cut signs that
this is a prelude to recession and
we assure you we're looking fol
signs every minute"
/ hear an awful lot of pessi-
Evening star., 1957-04-17

push. Prices are high enough
now. We definitely do not ap-
prove Of today's price level and
we shouldn't give the impress
sion we do"
If you don't see recession now,
do you see imitation now?
I'VE see neither at this mo-
ment. The economy is moving
sideways and there is no positive
assurance that we'll go down
from here or resume the ex-
pansion In the near future. A
continuation on this very high
plateau for some months would
be nothing to worry about"
But imitation remains the basic
danger?
"Yes. And we hope no moves
are made prematurely to inter-
fere with adjustments that are
essential II we're to fight infla-
ton successfully"
And that's the way your
private luncheon talk would 20
on this day in mid-April.
tcopyright 1857. Hall Syndicate. Inc.)
Evening star., 1957-04-17
YOUR
MONEYS WORTH
~ SYLVIA PORTER

mistic talk. and, at best, the OPP
timism is cautious" Doesn't
that disturb you?
Business talk is worse than
business conditions. Or putting
it another way, business condi-
tions are better than business
sentiment. That's characteristic
of us. We tend to swing from
fevers to chills."
Housing Slump Cited
Look at the slump in housing
Housing starts are down to an
annual rate of 100000, the low
est in eight years. Surely, this is
Ia weak spot warranting sympa-
thetic attention?
Actually. total construction
in March hit an all-time high
for the month; the declines in
residential building were more
than offset by increases to peak
levels in spending for building
Of schools, churches. public util-
tiles, hospitals. highways, Offices,
etc. The decline in housing is not
likely to go much further, and
it's a good thing house building
has slowed. Otherwise, the strain
on materials would be tremend-
ous."
Then take autos. What about
sales here?
Lets see what the next 80
days show before we Jump to
conclusions. But let's say it turns
out to be only a 6 to So mil
lion car year instead of a 6.5 mil
lion year. That's still a good
year and the auto industry GER
Itainly isn't exerting a major drag
on the economy now. as it did
in 1856.
How about the stock market? /?
Its not acting as though 1t
feared a decline in business. It's
turning in a mighty encouraging
performance"
No Shortages in Goods
But certainly, you see no
shortages of goods today?
mo. We see no shortages, but
that is no reason for us to grow
panicky and start policies that
would give imitation another
Evening star., 1957-04-17
Department Store Sales
Look Best In Suburbs

Department store sales in the
Washington Metropolitan Area
In two months this year we're S
per cent above year ago, al
Evening star., 1957-04-17
FOREIGN EXCHANGE

NEW YORK. April "a 0P.--Foreigr
exchange rates follow, Great Brttair
IN dollars, others In cents tunchangee
unless otherwise noted:
Canadian dollar In New York oper
market 5lJ2 per cent premium OF
lo1 l5es U. 8 cents, up !.
Europe. Great Britain tpound
S2.1S's: 80 day futures a.7Sss: 8,
day futures 27s,.: Belgium franc
| :a9is. of .00ls: France drancl 2fAl
tof a cent; Germany western
ldeutsehe mark e3 so; Holland tguilder
"a q. up .Ul Italy tliran 1875. of i
cent. Portugal (escudoi 350; Sweder
tkrona) 1884, Switzerland franc
tfreel 23.3j Denmark tkrone1 IA so
Latin America: Argentina tireel . SIS
zuela bolivar 1000
Far East Hons KONG dollar 1870.
Evening star., 1957-04-17
MUTUAL FUNDS

NEW YORK. April II tP.-National
Association Securities Dealers. Inc
moon 0uotatfonsl
Evening star., 1957-04-17
Sal Million Expunsion

NEW YORK, April II (P. -
John L. Collyer. chairman of the
B. F. Goodrich Co., yesterday
told the annual stockholders
meeting the company plans TO
spend an estimated SAL million
on expansion this year. This
would be UP 10 per cent from
1856.
Evening star., 1957-04-17
Service
Splits Stock and
Boosts Dividend

Directors Of Lincoln Service
Corp. yesterday voted to split
common stock by issuance OF
one share for each two shares
held and fixed an annual divi-
dend rate of 81 a share follow.
ing the split.
The split will be effective fol
stock Of record May 10 and the
initial quarterly dividend of 2s
cents a share will be paid June
IL to holders of record May "a
The 81 a year rate for split
stock will equal an increase oi
10 cents a share on old stock
which paid $1.40 a year previ-
ously.
Directors elected Ralph G
Blasey president to succeed
Charles Delmar, who was ele-
vated to board chairman and
Will remain chief executive as
well as chairman Of the Execu-
tive Committee.
Mr.. Delmar founded Lincoln
Service in 1891. This is his 50th
year in the finance business
MIR. Blasey has been with the
company for 10 years and for
Imerly was executive vice presi.
dent.
Frank c. Hallowell was pro.
NOTED to senior vice president
and Oscar c. Mitchell was
elected vice president and treas,
urer. Mrs. Lois M. Sutton wa:
elected assistant controller.
| The company, with headquar.
tiers in the Woodward Building
has had phenomenal growth and
now has 100 Offices. Stock was
split 2 for l a year ago.
Evening star., 1957-04-17
ADVERTISEMENT
Berens HondIinq
Copehort Looms
ADYERTIGEMENT

The first Capehart military
Housing) loan In this FHA
District Is being processed and
financed by Frederick w. Ber-
ems, Inc, Mortgage Bankers,
according to Hector Hollister,
vice-president. This project Is
located at the Army Receiving
Station, La Plata, Md. Mr.. Hol-
lister said his firm has facilities
for more loans Of this type and
would be pleased to talk with
prospective bidders OF other
proposed Capehart projects, re-
gardless OF location. This firm
has an experienced staff, ia
miliar with all phases OF FHA
loans. Call Mr.. Hollister at MA.
l8-5Ol7 or write to 1922 L Street
NV, Washington, D. C.
Evening star., 1957-04-17

will reflect the higher trend.
Addressing the spring econom-
ic meeting of Union Trust Co
at Hotel Statler. Mr.. Cole said
the American people have no
time for communism. radicalism
and crackpot ideas and are dis
playing marked confidence in
both the Eisenhower administra-
ton and a Democratic Congress.
Upturns in both auto produc-
tion and home construction will
come by fall and industry will
continue to pay out fabulous
sums for new plants and product
research, he predicted.
He pointed to an employment
of IS million persons on a 40
hour week and at new high wage
averages.
THAT is why I take con-
structive view of the economy for
the rest of the year. Ohe said.
II feel that the auto adjustment
has just about run its course.
Sometimes ] am little afraid
that people may back away from
higher prices. yet the evidence
shows that people are not shop
ping price. Give people the value
and they will grade up"
Mr.. Cole reported that savings
continue to climb to new peaks
and that installment debt has
been reduced steadily in recent
months. This is helping to lay
the basis for a new upturn, he
said. Interest rates have reached
their peak and are likely to re-
main close to present levels, he
added.
This summer the American
people will spend more money
for amusement and recreation
than ever before in history, he
predicted. Watch the mounting
sales of out-board motors, boats
and lawn mowers, he advised.
Big Plant Outlays Must
Continue, He Declares
Construction of new plants
Evening star., 1957-04-17

and equipment has helped to
cushion the slack of the last lS
months and see no letup in this
field" he said. Corporations
have found a pot of gold in de-
Ipreciation and depletion allow
|ances and competition forces
them to seek low-cost and more
efficient machinery In order to
survive the present race against
rising costs"
Just for the record, however
Mr.. Cole emphasized he does not
believe the business cycle has
been eliminated and he said he
took little stock in so-called
ouilt-in stabilizers. While no de-
preston is in sight, he left the
impression 1t might be we'll to
keep the storm cellars in repair
As for the market, the audi
Ience had a hard time finding any
group of stocks he couldn't praise
at least family. Rails were not
his favorites. he admitted. but he
pointed to Southern and Sea-
board for outstanding results
He also suggested that recent
declines in Santa Fe and Union
Pacific shares had placed them
in a good buying range.
Stock Prospects Called
Fabulous to Excellent
For prospects ranging from
fabulous to excellent he started
with the oils and stressed the
benefits of recent Government
policy for companies with large
holdings in the Near East.
He predicted domestic oil pro-
duction would rise 4 to S per
cent this year and foreign pro-
duction would be up 10 per cent
Recent price increases will hold,
he declared.
outlook for the drug industry
lis terrific with a succession OF
big baby crops and increasing
longevity. he said. Leading COM
panies in this field will master
cancer, he predicted. The in
dustry has a wide range OF new
products as a result of research
and has great growth possibili-
ties, he said.
Utilities are benefiting by in
lcreasing demand and more fav-
Iorable regulatory policies, he
said. Steel stocks also offer ex-
Icellent values and electronics
have created vast opportunities
for Office equipment companies
he declared. Bank stocks, in
Icluding those in Washington, are
very sound investments, he ad-
vised.
AS for the chemicals, he said
the world is in its greatest metal
era. especially an era of light
metals. He mentioned Union
Carbide as the worlds leader in
alloys and dupont as leader in
soft chemicals.
The speaker was introduced by
Linwood P. Harrell. president OF
Union Trust Co. A reception fol-
lowed the address.
Evening star., 1957-04-17

though the downtown portion
of the total was down 4 pei
cent, the Federal Reserve Bank
of Richmond reported. Suburban
gains made the difference.
February sales for the en-
tire area were just even with
"a year ago, but the downtown
portion was of 8 per cent.
Evening star., 1957-04-17
Maryland Bankers Prepare
For Annual Cruise Nav 25


( Bankers from this area will
take a prominent part in the
annual meeting and cruise of the
Maryland Bankers Association
which starts May Is at Balti-
more aboard the Queen OF
Bermuda.
1 William B. Yates, executive
vice president of the Citizens
Bank Of Takoma Park is second
vice president of the association
and William Bowie, vice chair
man Of the board OF Suburban
Trust Co. is third vice president
i Harper r. Clark of Baltimore
is president and w. r. Milford
honorary chairman OF the
County Trust Co. at Cambridge
is first vice president.
/ James P. Casbarian, president
Of the Bank Of Maryland at Seat
Pleasant is general chairman
for the meeting. The ship will
depart on the cruise at 3 pm
May rs and return at 8 pm
June /.
Evening star., 1957-04-17
Insured Banks Show
Increase In Assets

Total assets of all insured
banks advanced 4 per cent dur
ing 1856. Chairman H. E. Cook
Of the Federal Deposit Insurance
Corp. announced today. Thi.
growth was the same as the av-
erage annual rate Of increase
during the past decade.
Assets rose SO billion durine
the year and totaled S24l bill.
lion. Capital and surplus &C.
counts exceeded $l8 billion anc
miscellaneous liabilities were al.
most 81 billion.
The journal. (Caldwell, Ohio) 1934-1961, 1957-03-14
Floyd Henderson Speaks
To Beaver Hills Club

County Extension Agent and
Mrs. Floyd Henderson were
guests Friday evening, March
Is when the Beaver Hills Garden
club met at the home of Mrs.
Blaine Day, Quaker City route
The president, Mrs. Paul
Denius, called the meeting to
order and the roll call was an
sWered by "A Conservation Prac-
tice". Committee reports were
given and Junior Garden club
projects were discussed. Mr.
Henderson gave a number OF
helpful suggestions.
The main topic for the evening
was Conservation" with Mr.
Henderson as the speaker. Mrs
Henderson also offered a mum
Der of valuable suggestions o.
interest to gardeners.
Delicious refreshments were
served by the hostess, assisted
by Mrs. Lester Belts, to nine
members and the guests.
A wild flower tour will be
featured at the April meeting.
The journal. (Caldwell, Ohio) 1934-1961, 1957-03-14
Womans' Bible Class
| Meets In Church Room

The Woman's Bible class of the
First Methodist church met
Thursday evening, March 7 in
the church green room with the
president, Mrs. Iva Cutler, in
charge.
Mamie Cheadle was the de-
votional leader and Alice Black
burn was in charge of the pro-
gram. Participating in the pro-
gram were Mrs. Clara Beattey,
Mrs. Vina Pickenpaugh, Mrs.
Bertha Ullman and Mrs. Opal
Ullman. A feature of the program
was a mixed quartette composed
of Mrs. Cutler, Mrs. Beattey,
Mrs. Mildred Fink and Herbert
Ullman, teacher of the class. A
brief business session was held.
Hosteses for the evening were
Mrs. Vina Pickenpaugh, Mrs.
Opal Ullman and Mrs. Martha
Archer.
The journal. (Caldwell, Ohio) 1934-1961, 1957-03-14
DorCas Glass Meets
In Helen Lewis Home

The Dorcas class of the Macks-
burg Methodist church met last
Wednesday evening in the home
of Mrs. Helen Lewis with Gladys
Lewis serving as companion
hostess.
The devotional service was led
by Mrs. Minnie Carpenter. The
meeting opened with the scrip
ture reading followed by prayer
by Mrs. Alice Nolf. Group sing
ing was enjoyed. Mrs. Minnie
Moose and Mrs. Gladys Lewis
favored with vocal duet.
A short business session was
held followed by the program,
A feature of the program was a
talk by Mrs. Helen Lewis. A
nominating committee was ap-
pointed as follows: Mrs. Alice
Nolf, Mrs. Minnie Moose and
Mrs. Minnie Carpenter. Other
committees appointed were as
follows: devotional service lead
er, Alice Nolf; Bible questions,
Eileen Curtis and social, Gladys
Lewis.
Refreshments were served
during the social hour.
The April meeting will be held
at the home of Mrs. Mary Kath-
ary. Mrs. Lille Kyle will be
companion hostess.
The journal. (Caldwell, Ohio) 1934-1961, 1957-03-14
Circle One W.S.C.S.
Holds March Meetinu

Circle One of the w. S. c. S.
of the First Methodist church
met Thursday evening, March
7 in the church sanctuary to
hear a book review entitled
"Pauls Letters To Local
Churches" given by Mrs. Iva
Cutler.
Immediately following the
review, the group held their
regular business meeting in the
church dining room. Hostesses
were Martha Gaugler, Marylois
Colley, Estelene Danford and
Martha Watson.
The meeting was conducted
by the circle chairman, Florence
Archer. Delicious refreshments
were served at the close of the
meeting by the hostesses.
Those present were Grace
Henderson, Ruth Johnson, Mary
Slater, Adaline Jordan, Virginia
Hall, Florence Archer, Alice
Cutler, Estelene Danford, Flea
nor Moore, Mary Secrest, Jess
Reed and Helen Carter.
The journal. (Caldwell, Ohio) 1934-1961, 1957-03-14
Cora Leland Class
Holds MeetinQ Friday

The Cora Leland class of the
First Presbyterian church held
their regular meeting Friday
evening, March 8 in the home
Of Mrs. Ethel Caldwell on
Spruce street with Mrs. Bernice
Marquis serving as companion
hostess.
Mrs. Anita Mason had charge
of the devotional service.
A short business session was
conducted by the president, Mrs.
Mary Young. Contests were en-
joyed during the social hour
and delicious refreshments were
served by the hostesses.
Members present were Fran
kie Love, Adeline Mckee, Mary
Ellen Sanford, Lucille Fowler,
Capitola Love, Anita Manson,
Mary Young, Grace Metheney
and the hostesses. Mary Wiley
was a guest.
The journal. (Caldwell, Ohio) 1934-1961, 1957-03-14
Alpha Rho Chapter Meets
AT SenecaviIIe Church

The March meeting of Alpha
Rho Chapter, Guernsey and
Noble counties, Delta Kappa
Gamma, was held at the Seneca
vile Methodist church, Monday
evening, March II. At six-thirty
a delicious dinner was served to
tWenty-nine members and one
guest. The table decorations were
in keeping with the st. Patrick's
day motif and roll call was
answered with an Irish expires
sion, custom or joke.
Following the dinner, Robert
Burns, a senior in the Seneca
vile school, played two beauti-
full piano selections. The guest
speaker for the evening was Miss
Elizabeth Richey, a retired mis-
sionary, who spoke of the educa-
tional program of the Mission
schools in China and Burma.
Mrs. Dana Reed, president,
conducted the business session.
The committee in charge OF
arrangements was: Gladys For
shey, chairman, Blanche Richey,
Mary Crevey, Eva Davis and
Miriam Hawes. Other members
attending the meeting were;
Vera Bates, Mabel Bennett
Velma Burson, Inez Clark, Mar
garet Clark, Josephine Craig,
Helen Douglass, Ruth Day
Beryl Fishel, Mabel Flood, Cert
rude Hartley, Ruth Kackley
Esther Kegg, Georgian Lady
Florence Lothes, Bertha Mae
Murphy, Esther Pine, Margaret
Reed, Rama Steen, Grace Tay-
lor, and Opal VanDyne.
The journal. (Caldwell, Ohio) 1934-1961, 1957-03-14
Mrs. Carol MeAuIey To
Head V.F.W. Auxiliary

The VIEW. Auxiliary Unit No.
4721 held their regular meeting
Monday evening, March II, in
the Post hall on West street.
Election of officers was held
with Carol McAuley being re-
elected president. Other officers
elected were senior vice presi-
dent, Mary 10 Heddleson; junior
vice president, Ruth Tarleton;
treasurer, Aileen Tilton; chaplin,
Vivian Feldner; conductress,
Elsie Parrish; guard, Gladys
Hill; one year trustee, Frances
Taylor; district delegates, Media
Lahue, Bertella Rice, Ethel
Moore and Elsie Parrish; alter
mates, Gladys Hill, Dorothy
Shaw, Margaret Garrett and
Mary 10 Heddleson.
The auxiliary voted $500 tc
the heart fund and $4,000 to the
cancer fund.
At the close of the meeting
delicious refreshments were ser,
we'd by Dorothy Shaw, Amy
Rucker, Pearl Ralston ano
Eulalia Wiley. The tables were
attractively decorated in keep
ing with the st. Patrick's day
The journal. (Caldwell, Ohio) 1934-1961, 1957-03-14

Kenneth Crock, Caldwell high
school student, received the
highest score in Noble county in
the Senior Agriculture Scholar
ship examinations given on jan
uary 18, according to word re-
ceived today from the Ohio State
University.
The examinations were pre-
pared and scored by the College
of Agriculture of Ohio State
University and were given
throughout Ohio in connection
with the general senior scholar
ship examinations.
Crock scored 118 with Larry
Fleeman of Elk local next with
a score of los. Myron Fox, OF
Caldwell, Jim Schott of Elk
local and Gerald Elliott of Belle
Valley, tied for third with 6
score of 80, followed by Larry
Smithberger of Elk local with
score of 80.
Crock is the son of Mr.. and
Mrs. Sebastian Crock, of Cald-
well route 3, and a student in
the local department of voca-
tional agriculture.
This is the first year for voca-
tional agriculture in the Local
high school. J. E. Parrish is in
structor of the group.
The journal. (Caldwell, Ohio) 1934-1961, 1957-03-14
qou>nal Society
PHONE 90
Rev. David HiveIy
Speaks To W.S.C.S.
P H 0 N E 90

Approximately 40 members
and guests of the Caldwell First
Methodist church Woman's Soc
iety of Christian Service were
in attendance at the meeting
Tuesday evening, March IL to
hear an Informative address by
the Rev. David Hively, chaplain
of the Cambridge State hospital
for the past eight years.
Mrs. Mary Secrest, president,
presided at the meeting that
opened with group singing with
Alice Cutler at the piano. The
theme for the evening was ''The
Church and Mental Health" with
Mrs. Gladys Seffens as the de-
votional leader. The speaker for
the evening was introduced by
Mrs. Helen Young, vice presi-
dent, of the organization.
During the business session
the spring district meeting to
be held in Woodsfield On May
3 was announced. Prayer was
offered by Mrs. Martha Gaugler
and the meeting closed with the
Mizpah benediction.
Guests for the evening were
Rev. and Mrs. Hively, Mrs. Char
les E. Davis and Mrs. Rollin
Thorla.