davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
Capital Bank Loans Dip
To New Low in Week

Outstanding loans Of IL
reserve nj g m Der banks here
totaled $512,282,OO0 on March 6,
down S4,448.O00 from a week
earlier and lowest since S5ll.-
717.000 on April IS last year. The
total remained $15.776.000 ahead
OF March 7, 1856, however.
Commercial and industrial
loans totaled s223.335.000 on
March 6. down $7,277,000 from a
week earlier. but S25, 10000
above the like 1856 date 1t was
their lowest mark since mid
December.
Real estate loans of S145.378.-
600 were down 1921 900 in the
week and only S2.371. 900 above
a year earlier. Other loans of
sl39.540.o00 were up 1851 600
in the week but Sl0.639, 600
below the like 1856 date.
Demand deposits of S935,074,-
900 were down S8.770.000 in the
week, but S10.008,00 above a
year ago. Time deposits of $780,
585 900 were S1,176,000 higher in
the week, but sci 900 below the
like 1856 date.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
Insurance Agents
And Managers
To Meet Here

Problems of expansion in a life
insurance agency and the impor-
lance of human relations will be
major topics for the fifth an
nual area conference of the Life
Insurance General Agents and
Managers Association of Wash
ington at the Shoreham Hotel
next Thursday. starting at $3.50
am.
Homer c. CLANCY, director OF
agencies for New England Mu-
tual will discuss the former SUBJ
ject and his talk will be followed
by round table discussions OF
methods for recruiting new
agents. They will be moderated
by John D. Marsh. Lincoln Ma
tional; j. w. Merritt. Prudential
Herbert r. Hill. Life Insurance
Co. of Virginia: Clarke H Will
liams. Mutual Life of New York
Thomas j. Luck. director OF
management education for the
American College of Underwrit.
ers, will discuss human relations
Moderators for later Workshop
panels will be: William Nc.
Causland. Acacia Mutual: Robi.
son Brown. jr.. Prudential. Yer.
non w. Holleman. Home Life
James D, Bligh. jr.. Pilot Lif,
Insurance.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
Report Shows
'PEpC0 Growth

Potomac Electric Power Co.
lad another highly satisfactory
year of growth in 1856, President
r. Roy Dunn stated yesterday in
the annual report.
Sales of 1879, 779, 900 kilowatt
hours were GA per cent above the
previous year, revenues of $685.
1882 were up to 10.4 per cent
and net income of SO SCI ,261 was
1875 pei cent higher, he pointed
out.
Per share earnings of $1.54
were UP TT per cent and divi-
dends of $1.10 share were UP
10 per cent. Construction expen-
ditures of 1855, 900 were 60.6
per cent higher and peak load of
$4,000 kilowatts rose 6.5 per
cent. The number of common
shares rose 5 per cent to $780,
1856.
Mr.. Dunn outlined many 1856
improvements. including tn e
building of a fifth unit at the
Potomac River plant, construc-
ton Of a new major substation
downtown and the laying of 81
miles OF new oil-filled, pipe-type
cable to increase capacity Of the
transmission system.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
European Market Poet
To Effect u. S. Exports

mon markets industries in VIOLA
ton of the GAIT agreements.
Big U. S. Stake
The United States has a big
stake in trade with the ECM
countries. In January-November,
1856. exports to those countries
totaled SIS billion. Imports
from them were $l.3 billion.
Foodstuffs and other agricultural
products form about a third Of
our exports to all of Western
Europe.
When Premier Guy Mollet Of
France addressed a joint session
of the Canadian Senate and
Commons earlier this month he
said that North American trade
stands to gain rather than lose
from the ECM. He sought to
quiet the Canadian fears that
the development might mean a
loss of some of their traditional
markets. especially for wheat.
Mr.. Mollet indicated there is
every reason to expect an ex-
pansion in trade between the
ECM countries and North Amer
lea.
A higher living standard in
the area and an expanded mar
ket will mean a need for more
raw materials and more capital
equipment. Some of the latter
no doubt will be produced within
the area. But the efficient and
inventive American producer
should be able to meet COMPETE
ton, as he has in the past.
1t is expected there will be
developing opportunities for
investments. Euro
pean countries now appear anx-
ious to attract investment in
volving new technologies or the
manufacture of new products
through licensing arrangements
with United States companies.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
c. {. futile Group
Pays $l7 Million
For Uranium Mine

SALT LAKE CITY. Mar Is
pa new firm headed by a
B a fillmore industrialist has
bought a Southern Utah uranium
mine for SIT million. it was an
Inounced yesterday. The price
was reported to be the highest
ever paid for unarium mine.
The property is the Cord Mine
in San Juan County, 43 miles
south OF Moab. 1t was sold by
a partnership headed by E. l..
Cord. manufacturer Of the pre-
World War II Cord automobile
and now a Nevada State Senator
The purchaser is Jen. Inc. whose
president is c. E. futile of Bal
timore.
Jen officials said they believe
the Cord Mine contains more
than 100000 tons of high-grade
"a dAAAdAil VIC L iiC plOJEl " NOil-
slsts Of six claims. Mr.. Cord
and associates have been de-
veloplng the property for three
years. They began ore pro-
duction last November.
Since then. Mr.. Tuttle said,
they have been removing about
$50 tons of ore per day.
Mr.. Tuttle has been a banker
and once was head of the Pitts
burgh Railroad e. Coal Co. He
was president and chairman of
the board Of Rustless Iron g.
Steel Co. until it was merged
with Armco Steel Corp. in 1894.
He is a regent Of the University
Of Maryland,
Jess Larson Of Washington,
head OF the General Services Ad-
ministration under former Presi-
dent Truman. is a director.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
CHICAGOLIVESTOCK

CHICAGO. Mar Is i4e tUsDA} -
Saiable moss. 400; fairly active. Strons
70 - higher on butchers sows STEADY
70 20 h'Sher. arouna 500 mead sold
on shipping account No. - ipO-250
10 butchers i7.25-i7 .6G. Sizable supply
LIZ lsu-2Hd 10 In receipts at Il st.
ls15. around - heao No "la ID
sorted Tor weight and grade 90.
butchers over 90 10 scarce few lots
81 '.6fl-.9u ID 1 n0- - load No
l-2 go ID butchers Il. %. larger lots
mixed gradfs 355-55O ID SoWS ) Ou-
~ -. ilttie beioW 10 -
Salaoie cattle sho calves 900. gen-
orally stead. market. peaiers strong.
- head string mixed good and choice
.i3h- i,*21 10 steers II go few Choice
steers veariinGs no 90 - uu. sprinkllng
Of standard and good steers Ia 5U-3U 30,
paekage OF low good sou h heigefS
1900. utility and commercial COWS
l2.5p-l ! so; most Gamers ann cutters
| COL IL 90. some Holsteln Gutter aud
utility cows mixed M TO 10 80. utlaty
and commercial bulls i475-i6.Jd good
and choice yealers - on-17 90. ulhty
and standard l3.nO-24 90. few Culls
- so do1r
salabie sheep 500: slsushter lambs
STEADY. SLAUGHTER ewes scarce un-
changed good and choice gOoled
slaughter lambs - uu-23 So. inciuo!ng
small package mostly choice at ~ so.
and deek l.4 10 mostly choice lambs
Zoo Gull 70 choice Wooied slaugntef
ewes h.51-lO.5O. Few at III 90.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
Area Store Sales Down
IS Pet. From Year Ago

Department store sales In the
Washington Metropolitan Area
Jagged 5 per cent behind a year
earlier in the week ended March
9. despite a gain of Is per cent
from the previous week, the Fed
eral Reserve Bank of Richmond
reported today.
Area sales in four weeks ended
March 9 were 4 per cent behind
the like 1856 period. while those
for the year to date were even
with a year earlier. the bank
stated.
Excluding suburban branches,
which are showing substantial
gains. the downtown portion OF
the total so far this year is
per cent behind a year ago. In
the latest week, downtown sales
were off 10 per cent from a year
ago, despite a IS per cent in
crease from the previous week
Downtown sales in four weeks
were 10 per cent below the like
1856 week.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
FOREIGN EXCHANGE

NEW YORK. Mar IL u, -Foreien
exchange rates follow Great Britain
In dollars, others IN cents
Canadian dollar In New YORK open
market ~ per cent premium OF
lvi 5bit United States cents I'd ~.
OF a cent
Europe Grea; Britain pound
81 7g,. 81 4 - Of q cent. Great Brit
ain 9u-day futures " 49,. of 3, o.
q cent, Great Britain du-cay futures
1st!. of u OF a cent Great Britain
Slsday iatutes ISL of 3 70 o. a
cent Bel KIM franc aals OF 0pis
Of cent. France franc 2Sss Of d
cent unchanged. Germany Western
,deutsohe mark - 50. unchanged Ho
land iguilder) 2HlA. unchanged ltaly
Ira .lh's OF cent. urchanged portu-
gal ,eScudoi 50. unchanged sweden
tkronal 1924, unchanged. Switzerland
franc free ~ 30. UNCHANGED Den
mark krone - 81. unchanged.
Latin America Argentina tircfl ~
unchanged Brazil free 81 I'M
changed Mexico : al, unchanged Vene-
,zuela bolivar 81 O3. unchanged
Far East Hong Kong dollar l1.55
unchanged
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
Alb Women will Hold
Fashion Show Tomorrow

The Women's Committee of
Washington Chapter. American
Institute of Banking. will hold
a luncheon and fashion show
at the Shoreham Hotel tomor
row, starting at pm
Miss Marion L. Tobin of Riggs
National Bank. committee chair
man. will preside. Fashions will
be by the Hecht Co. and Miss
Glenn Grubic, company fashion
director, will give the COM
mentary.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
By FRANCIS P. DOUGLAS

| ~ AAAhANOAo
What effect will the European
Common Market Of France. Yves
Germany, Italy. the Netherlands
Belgium and Luxembourg hav,
lon American industry and agri
Iculture?
In the first four-year stage o
the common market develop
Iment the effect on other coun
tries probably will be slight.
Beginning with the seconC
four-year stage. some Ameri
can industries exporting to tn,
six-country area probably viii
have to make adjustments. The!
also may find sitter competition
from the common market ares
lin selling in other parts of tn,
world.
In the third four-year stag
American producers SHOULD
know what the pattern will be
The inefficient producer of {
competitive item in world trad,
probably will suffer.
Rising Standards Seen
1t is logical to expect a risine
standard of living within the
siX-State area. This woulc
mean an expanded market moi
only for those things produced
within the ECM. but for i'm
ported products of industry anc
agriculture.
The common market treaty is
expected to be signed at Rome
later this month. Under it the
plans would be carried out in l:
to Is years-in three four-yeal
stages. each OF which might bt
prolonged an extra year.
The tariffs now existing be.
tween the six countries would bt
wiped out in three stages. There
would be cuts of 80 per cent il
each of the first two four-yeal
periods. with the final cut of Al
per cent in the last one.
The tariffs applying on prod.
ucts imported into the area il
another matter. The aim is Il
get these to a common level
Where the tariff rates Of thu
member nations differ by les
than Is per cent, the average o.
the rates is to be applied. Wher,
the spread is wider, the common
tariff probably will be the result
of negotiations. Logrolling, no
unknown in American tariff his
tory. probably will figure.
Example Offered
A concrete example OF wha
an American producer nigh
: face was given by a Commerc,
Department official.
An American manufacture
now markets a machine il
France and is able to do 81
against German competition be
cause of the French tariff on tn,
German competition because o
the French tariff on the German
product. But with the elimina
ton Of tariffs within the com
mon market. the American prob
ably would find the German
product displacing his.
A large portion of the product
exported by us are not in com
petition with products produced
lin the common market area
however. If this applies to tn
product of the American manu-
facturer already cited. he prob
ably would have an improved
market because the French use
Iof his machine would have /,
wider outlet for his production
Those who fear the common
market would rig the externa
tariffs to keep out imports ma.
find reinsurance in the Genera
Agreement on Tariffs and Trade
III would be up to GAIT. o.
(which the United States is {
member. TO see that tariffs arr
not raised to protect the com
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
Dry Cleaning Institute
Promotes George Fulton

George P Fulton has beer
named secretary-treasurer ano
general manager Of the National
Institute of Dry Cleaning in Sill
yer Spring.
An institute employee for more
than % years, Mr.. Fulton sue
ceeds Norbert j. Borg, whose
resignation became effective
March 10. For ii months Mr.
Fulton has been assistant sec.
retary-treasurer and genera
manager.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15

allotted to Government Invest
ment accounts.
Terms for the latest financing
are about the same as for the
February is offering. or the
highest since 1888. The financ-
ing will result in no increase in
the public debt and actually may
result in a small decrease. 1t is
not expected to have any APP
preciable effect on the money
market.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
METAL QUOTATIONS

NEW YORK, Mar - p Spot non +
ferrous metal prices today Copper a.
=! cents pound Connecticut valley
Lead Is cents a pound NeO Y0rs zinc
i1iz ctBts pound. East 81 Louis Tin
a9la cents pound New YORK foreign
silver Aiis cents per troy ounce. New
YORK Scrap steel No. heavy 90 90
- un P.ttsburgh
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
'' RI BUSINESS
Long-Term Bonds Slated
In Exchanged for Fs and Gs
By DONALD b. HADLEY

Treasury spokesman last night said longterm Govern
ment bonds being considered exchange
and bonds maturing this in the of SIS billion.
final decision has been reached. the Treasury
wants to indicate the probability of
the maturity will be 10 Is has not been Indicated he
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15

RALEIGH MANAGER
Jack Wilder has been
named general manager of
the Raleigh Hotel. He also
is assistant vice president
in charge of sales for the
Massaglia hotel chain. He
started his career with the
Raleigh in 1881 and was
sales manager of Hotel
Satler here from 1949 to
1855.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
STATEMENT Or TEE CONDITION
OF THE
The Northwestern Mutual
Life Insurance Company
ASSETS

n i2O East Wisconsin Avenue MllWau
kee . Wisconsin. on the 3lst day o.
December 1855
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
MUTUAL FUNDS

NEW YORK Mar Is p.-National
Association Securities Dealers, Inc
Noon Qu0tationS)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15

added. The rate and other
terms will depend on market
conditions. Action can be ex-
pected within the next few
weeks, he said.
What portion of the maturing
SIS billion would be exchanged
for marketable long term bonds
is problematical, ne declared.
The F and G bonds were issued
in wartime as an alternative
to a marketable bond and were
purchased by more sophisticated
investors such as bank trust de-
'partments and wealthy in
dividuals.
The spokesman said experts
on public debt management had
been asking why the Treasury
is not doing more to spread
maturitieS and that surveys
show one of the best ways would
be to exchange the F and G
bonds for a new long-term issue.
Compared with other Treasury
issues, the contemplated long
term offering would not be large.
AS the Treasury stopped issu-
ing the 12-year Fs and Gs in
1852, none of them, has more
than seven years to go and will
yield around ga per cent for
the remainder of the time, he
pointed out. Presumably the
new bonds would carry a higher
rate.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
Plans Revealed to Press
At Financing Briefing

First news of the long-term
bond plans came at a press brief
ing on an offering of around
SO billion of new public debt
issues on Monday. March 10, in
Guiding about $3.50 million of
additional of 3l2 per cent Treas
ury notes of Series A-1960 and
around 100000 of 3as per
cent Treasury Certificates of In
debtednesS of Series A-l958.
The former will bear interest
from February Is and will be due
May Is. 1860. The latter will
bear interest from February Is
and will be due February IA,
1858.
Both issues will be offered at
par and books will be open only
for one day, March Is. Up to
500 million of the notes may be
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
LIABILITIES

Aggregate reserve for
policies ana con
tracts ST. .3iS. ,JI,3ll 90
claims 16.tl9la0.5l
Liability for policy
holders dividends rs. B36 1874 - .
Other policy and con
tract Aabiitleh Oh ] ~ : ,t 80
other liabilities lfl.gl5,S3B -
Total liabilities Sl3n0i 1897 -
Surplus S1iSsb2s2 III
Total 81 80 ~ 800 ~
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
STATEMENT OF TAE CONDITION.
OF TIE
Metropolitan Life Insurance
Company

OF ] Madison Avenue
New York 10, New York
on the 3ist Day Of December, 1858
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
LIES

LIABJl Tiles
Aggregate reserve fer
pullcies and ron
tracts S3lil GG3,334 90
Policy and contract
Claims i3s0l,35l 10
Liability for policy
holders civicenoS ~ i5g O5J. -
Other policy sud con-
tract liabilities sSi.lTT.lO
Other liabilities ~ f33 ~ ~
Total liabilities S33I5. I3N. So ~
surplus .!3l ,637 80 ~
Total S3516,f 20, 40 03
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15
SUMMARY or OPERATIONS

Premiums and annuity
considerations -, OfJO3] o.
CONSIDERATIONS for sup
Elementary contracts 11h53.,l - 81
Ne, investment income AL t2H g5g gb
Other income lt331g -
Total S950l, "u05lB.47
DeatI dement's and ma
tured cndowmentS b5H SHi ] 3S 90
Other payments to pOl-
icyhodefs 4g3 3i3.gi465
Other payments. deduc-
tiUnS from income
ana increase In re-
serves .2s5.sas as / y
Total S353 id6. i3l o.
Ne gain from opera
tinns before DIVIDENDS
to po.icyholders $50 1913. Tss ~
Dividend TO pol y
holders 2s5 O3a ig3 80
yet gain from opera
tons after is ,dcnds
70 policyhOldefs ISL $50 2Hd G5
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-03-15

Amount OF ordia ary
Gacl group business
issued, revived and
increased during the
year ss.e5is5s, i55 o.
Amount Of ordina
iinc grc ipl business
issued revived ard
Increased III ne Dis
trict Of Columbia
during the wear S.9 80 SO 90
An unit u ndus' tai
business ISSUED, re-
vived and increased
during the year x9iS,BiB,50i 90
Amount OF Industrial
7 business issued. re-
g.ved and increase
1 IN the District OF
Columbia during the
year Sani nSi ,
n T. DAVIS
President aud chief Aetuary
W ] BARNETT
Secretary
Subscribed a. q sworn TO before me
mis- sth day 81 March nfs Seal J.
EDWARD CRBBAN
Notary iie
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-05-05
Costello Lying,
Police Say

NEW YORK. May 4 R.-
Gambler Frank Costello was ac-
cused by police today Of Lying
when he said he didn't know who
shot and slightly wounded him
Thursday night.
HE recognized the gunman or
he knows why someone wanted
to kill him-but he's not telling
u.s." Chief of Detectives James
IB. Leggett told newsmen.
A search for the gunman by
more than so detectives appeared
stalled. Police said they had no
suspect in custody and had no
immediate plans to question any,
one further.
The police believed the gun
man might be the object of
Ia three4way manhunt by detec-
tives; by "friends" of Costello
bent on vengeance, and by the
gunman's own associates who
might want to get him for
bungling the job.
The motive for the shooting
in the lobby of Costello's Central
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-05-05
IS Boys at Junior Village
Plon for Soap Box Derby

Fifteen boys at Junior Village
are busy preparing their racers
for the Washington area Soap
Box Derby on June 20.
The home had six boys In the
1856 Derby. and two of them are
planning to try again this year.
I'VE don't know just how many
actually will enter the race" ex-
planned Assistant Superintend-
ent Edwin Detmer. Some of the
Is may be discharged before
then"
The boys already have started
assembling their axles and
wheels. some using equipment
left over from last year. Harriet
Williams. the industrial arts
teacher. is helping.
Mr.. Detmer said the home has
q larger shop with better equip
ment in its new location at Blue
Plains, where it was moved last
September.
The derby is sponsored by The
star IN association with Metro
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-05-05
Pope Praises Work
Of World Chamber

VATICAN CITY, May 4 up.
Pope Plus today praised the
work of the International Cham
Der of Commerce in. its efforts
to- favor economic progress 1.
independent Of political consider
atoms.
The Pontiff received in spe-
cial audience the $50 members
of the General Council Of the
International Chamber. which is
meeting here for its annual con-
ference.
The Pontiff gave his special
blessing to the 1000 business
leaders from more than 20 coun-
tries her for the conference.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-05-05
DERBY GUIDE

The Event-A coaster race
for boys, II through is in
which contestants drive cars
Of their own construction.
Date-June 20.
SpOnsOr-The Star in as
ISOLATION with Metropolitan
Area Chevrolet dealers and
the District Department Of
the American Legion.
Registration-at the near
est Chevrolet dealer, where
official Soap Box Derby
wheels. axles and steering
sets are available. Dealers
participating are:
Addison. Fourteenth street
and Florida avenue NV:
Aero Auto Co., l10l King
street, Alexandria: Barry
Pate. 1880 Connecticut ave-
nue. NV; Chevy Chase Mo-
tor Co., tbs Wisconsin ave-
nue. NV; Kenyon Peck,
1926 Wilson boulevard, Ar
lington; Justine Nicholson,
$40 Baltimore avenue, Hy-
attsville: Hicks, 1929 Georgia
avenue NV.
Also. Mandell. 1900 Nichols
avenue Sc: Ourisman, 61O
H street NE; Stohlman,
1907 NJ street NV: Loving
Chevrolet. Inc, 1889 East
West highway. Silver Spring!
Wissinger, Seven Corners,
Falls Church. Va; Toms
Chevrolet, Wheaton. Nd,
and Rosenthal Chevrolet,
Arlington, Va.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-05-05

Park West apartment residence
still was obscure-but a variety
of possibilities was being consid-
cred.
One was that Costello had won
a huge sum by betting on Sugar
Ray Robinson in a boxing bout
the night before the shooting
and that bookies, unable to raise
the cash. paid of with a bullet.
Another theory was that new
elements in the underworld
meant the bullet as a challenge
to the "old guard" symbolized
by Costello.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-05-05

politan area Chevrolet dealers
and the District Department of
the American Legion.
The winner will compete in
the National Derby in Akron on
August Is. The boy making the
best time for each leadership
also will receive a free trip to
Akron.
The National Derby winner
will be awarded $1,000 scholar
ship and a two-week trip to
Europe.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-05-05
Census to Conduct
Household Survey

The first Of a series of monthly
household interviews-part Of a
nationwide survey in several
hundred areas-will be conducted
here tomorrow by Census Bureau