davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-06-07

UNITED NATIONS, N. Y,
June Z R.-The United
Nations Security Council has
delayed action on Lebanon's
bitter quarrel with President
Nasser's United Arab Republic
until Tuesday amid indications
it will have a tough time
working out a solution.
The II council delegates
agreed after one day of debate
yesterday that rioting which
has killed from 300 to 500
people in Lebanon during the
last month poses a serious
problem for the troubled Mid
die East.
But no one proposed what
to do about it.
" Malik Makes Appeal
In a I0,000-word speech at
the Security Council, Lebanese
Foreign Minister Charles Malik
accused the UAR of massive,
illegal and unprovoked inter-
vention" in his country's in
ternal politics. He said the
UAR was supplying arms,
training, reinforcements and
direction to Lebanese rebels
trying to overthrow the pro-
Western government Of Presi-
dent Camille Glamour.
Mr.. Malik asked the U. N.
to stop this alleged interven-
ton.
U. S. Delegate Impressed
Omar Loutf1 Of the UAR
replied: Nobody is threatening
Lebanon. The present situa-
ton is the result of political
differences which separate the
Lebanese III e m selves" He
added that the UAR hoped
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-06-07
General Fights Odds
In Portugal Election

LISBON, Portugal June tF9-An AIR Force general who
has presented the first real opposition 10 Premier Antonio Saa
EARS 30year dictatorship is given little chance of beating the
odds stacked against him in tomorrows presidential election
Short buh Gen. Humbero Delgado has injected life in the
usually apathetc electorate which un has had only Mr.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19
Stocks Post
Gain Despite
.Drab Reports
BY ED MORSE
Associated Press Financial writer

NEW YORK. Jan. ls.--The
stock market plugged ahead
this week for q good gain
despite a continuation Of drab
economic news.
The Associated Press average
Of so stocks was up $500 to
$1,000 in a continuation OF its
irregular rise since the close Of
1857.
The badly abused railroad
section Of the average was
mainly responsible for this
advance. The dismal plight Of
the rails was aired plentifully
this week during hearings in
Washington. but instead Of
depressing their shares this
may have been Of considerable
help to them. Apparently there
Is considerable hope in invest
ment circles that some aid
will be forthcoming for the In
dustry. The hope was but
tressed on Thursday when
Senator Smathers. Democrat
OF Florida. asserted that some
action should be taken 10 i'm
prove conditions for the car
riers.
The big news OF the week
for the stock market was the
lowering Of margin require
ments for stock purchases.
After the close on Wednesday,
the Federal Reserve Board cut
margin requirements to so per
cent from 20 per cent.
The move led TO considerable
excitement on Wall Street and
a huge $3.50. 000-share day on
Thursday when broad advances
were made early in the session.
But these melted away to a
great extent as profit taking
took over later in the day.
The five most active issues
this week on the New York
Stock Exchange were: Amer
lean Telephone. up la at
l70.a on 100000 shares: Stand
ard OIL New Jersey. up "a at
49ls; General Motors. up ? at
35ss; Bethlehem Steel. up ia
at $50. and Royal Dutch. up
a at 3s94.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19
BALTIMORE
LIVESTOCK

BALTIMORE, Jan. ~ R-fUsDAl.
Cattle and calves. Receipts Of 1000 At
the Baltimore Union stock Yards THE
week we're slightly larger than last
week and last year, SLAUGHTER steers
ana neiiers mostly good and choice
0f receipts with heifers IN limited SUP.
ply. COWS made up about 20 per cent
and remainder mostly bulls and Yeaiefs
with few slaushter calves and stock
rs and feeders, all slaughter and
stoeker and feeder classes were active
and IN sood demand with exception Of
cows and bulls compared 10 last week
fed steers and hsifers fully es-aO cents
hieher. Instances 90 UP on steers
cows unevenly strong TO ~ cents
higher with most advance on utility
and commercial, bulls SOC 90 lower.
and feeders strong. bulk OF GOOD and
choice fed steers under 9O0 lbs sold
at ~ 00-s6 90, q few choice brouaht
20 00-eI so, standard and eood moved
% O0-24 90. mostly good heifers car
ryinE an end Of choice 1850 lbs down
sIo ID reached eSsb and standard 10
GOOD sold from 20.O0.23OO. bulk 81
cutter 70 commercial cows brought
~ 90 500 late. few hieh CONNER
cial 70 standard reached 20 90 and
Gamers and cutters sold i3.OO-i5 so,
20. 5O-2i 80 early and a. 10000 81
late with q few TO 20 90 early and
individual 1910 ID At 2260, good and
good vealerA cashed At 39 0O-36 90
with q few 20 20 so standard and
good mostly @5nO-39 90, eood slauah-
ter calves 2OO0-.e 90 package 4lp
ID good and choice 80 SO. limited sup.
ply OF medium and GOOD stoeker and
feeder steers sold from 20 .0O-.i 81
Hogs Barrows and ailts fully so
cents up, receipts Of 1000 were slightly
more than last week. but sliehtly less
than year aGo. bulk OF supply mixed
Us l, 2. and 3 10000 ID butchers
selling from 9060-9l 90 early and
2O.75-2l Is late. but mostly 81 90 and
up, mixed - 3OO-4OO IN sows ranged
from idG5-55. few under 400 lbs
to 1898,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19
NEW YORK COTTON

NEW YORK. Jan. Is 0a-cotton
futures declined 81 p5 TO - 90 4 bale
this week with much OF the Seiline
attributed 10 Washington DEVELOPMENTS
on proposed farm legislation.
The market declined rather sharply
earty IN the Week on word that the
administration planned 10 ask Congress
for new legislation which would allow
lower price supports and an increase
IN PAINTINGS As prices worked down-
ward, the unrovering Of stop-loss orders
sieppcd up the tempo OF the decline
CncrineS were also furnished throueh
hsdae SrllinK against purchases Of
Conn odlty Credit Corp cotton
The Presidents message 10 Congress
on the. farm problem contained the
pectcd His recommendation that cotton
price props should be based on the
ayersge quality OF the crop rather than
on middlins is-inch cotton, as ct pres
ent, attracted particular attention.
Domestic consumption OF all cot
tons for last month proved to be some
What smaller than expected The
Census Bureau put II at $4,000 bales
vs. 656.0O0 In November and B3l 600
in December last season. So far this
season mills have used 3.374.OO0 bales
vs. j.7:nl 600 10 approximately the
same time last season
Exports for the weekly period ended
last Tuesday we're estimated BY the
Service Bureau at 100000 vs.. l5l 900
week previous and t23, 900 In the
same week last year. For the current
season through January "a exports
we're estimated At a.ia2 900 bales COM
pared with 3..Ss.000 last season
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19
BUSINESS
BRIEFS
Fire Damage and destruct,o,

Fire Damage and destruction
over the Nation In 1857 totaled
sl.023.I90.000. up 3.4co from
l956.-National Board Of Fire
Underwriters.
Aluminium Co. Of America
announced It will shut down
on January 30 three of its IL
pot lines at the smelling plant
at Alcoa. Tenn.
Safeway Stores. Inc. sales in
I weeks ended December 2S
totaled $i69.O55. lS3, up 5.lG
from 1856: for 50 weeks ended
December %. $2.ll7.i3i, oS6, UP
6.4ss from 1856.
Melville Shoe Corp. sales in
5 weeks ended December 81,
totaled $iS.5s2.i72. up 3.7G
from 1856: for year ended De-
cember 81. Sl22.057.s55 up
5.2ss from 1856.
Stone & Webster. Inc, in year
ended December 81, earned
sl0.l25. 900 or s4.9l a share VS..
S6.97l 900 or 1898 in 1856.
Western Md. Railway in year
ended December 81. earned S8,-
ST.. 900 or $l2.20 a share VS..
sS.24l 900 or $l.22 in 1886.
Celotex Corp. in year ended
October 81 earned $685. .856
or $4sa share VS.. $500. 2S4 or
S6.42 In 1856. ,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19
YOUR
WORTH
Meaning of Margin Cut
" SYLVIA PORTER

poration IL represents - has
been strengthened one iota.
But II does mean that TIN
be easier to get credit TO buy
stocks. and. II you want TO pay
the rates charged for loans.
you'll be able TO carry q larger
volume OF stocks on borrowed
money. On January Is. with
81 900 Of cash. you could buy
only $i.43o Of stock; today. you
can buy $4,000 worth. This
could expand the volume OF
trading in stocks.
" does mean that the Fed
eral Reserve isn't at all worried
about q speculative splurge in
stocks now. The figures indicate
there isn't one.
And II does mean that
the monetary authorities recog-
nized that a TO- per cent re-
ouirement was too stiff against
the present background of the
economy and the stock market.
The 70 per cent rule was put
into effect in April. 1855, when
the stock market was in a fe-
verish upsurge. That's scarcely
its condition today.
Only a few days ago. I wrote.
Bit by bit. Washineton's poll
icy-makers are now acting to
combat the 1858 recession.
The various moves are bound
to have a cumulative effect"
This Federal Reserve move is
another bit"
Distributed 1888 BY the Hall
syndicate, Inc. All rights reserVedO
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19
Bya Subscriber

Since started reading The Wall
Street Journal, my income has in
creased from 5000 to $4,000 .
year.
But that Is only part Of the
story. The Journal not only tells
me how TO earn more money-it
also tells me how to get more value
for the money spend.
For example. an automotive
article in The Journal helped me
trade in my old car at the right
time. An article on building sup
plies gave me ideas on remodeIing
my some and showed me how to
save $T00.
Articles on food and clothing
point out the things to stock up
on in order to save money. Articles
on taxes guide me on what to do
to keep my taxes down.
The Journal also gives me q bet
ter understanding of what is going
on in the world. In conversation
with other men ! find that ! know
Address; The Wall Street Journal.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19
CHICAGO GRAIN

CHICAGO, Jan. - R.-Except for
two AIRY trong pushes, gram fa-
lures raced N q sticky market tnlS
week and 81! % them closed ~ithin
two cents q where they began, most
OF m m within one cent.
The ffst push occurred on Tuesday
Il sJygeanS. AZ carried prlces lp
aroa.na INo cents a busnel within a
shrrt time but ran ous o. steAIa the
next Gay
That buying SpluTse followed a re-
pofl that the Government estimate
n mlI. ion Sashsis vas Is Dt million TOO
hieh and that AZ Official revision
aCuld pe forthcoming.
There has NO. yet been a revision
aud the rally vas short-liyed. Most
Of the gains veTe erased within the
The other rally came on Friday in
wheat ana 0ooateG prices as mutn as
tao tens q baKbel The climb vas
Il Sss started o. buylne for COM
mereial snd expert accounts aiong
18th iairly heavy short -eOyering
There hAd been no new reports Of
additional wheat EXPORT business ana
euy,ns vas 10 meet previous commit.
menla During the week Pakistan nso
boaSbt about SIX million bushels iof
shipment during the nex, several
Nee@s, ana Greece hae taken about
Gook about million bsEhels
Al TIE close OF the week. wheat
Eas "a loArT 10 = higher than q week
aEo cow 's-iis lover oats q lower
2 = hisneI rys "a loser TO =
6isasr. ara 'e isfa Is TO 20 - cents 2 :
hundred pounds lower.
Rams. OF prices for the week
I'D r.f. -
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19

GUEST OF HONOR
Arthur Clarendon Smith,
Sr., board chairman and
founder of Smiths Trans
fer & Storage Co, will be
honored at a luncheon Of
the Washington Adver-
Using Club Tuesday for
outstanding achievements
in the advertising field.
He recently celebrated his
18th birthday and the
company Is marking its
50ths anniversary.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19

why uld the FEDERAL Reserve
Board chop margin require
ments on stock purchases to so
per cent from 20 per cent this
past Wednesday?
What II the meaning Of this
move-which now allows you
to buy. say. $4,000 Of a stock
listed on any exchange with
only $1,000 Of your own cash
and TO borrow the balance?
First. the why's:
The Federal Reserve Board
took this step to give the stock
market and the business COM
munity q psychological shot in
the arm. The cut had a sur
prise element which gave II an
extra impact, And II the easing
Of the stock credit curbs makes
Wall Street happier and adds
TO busineSsmen's confidence,
the Federal Reserve will be de-
lighted.
Loan Demand Down
This is another link In the
anti-recession program being
developed in Washington. The
Federal Reserve Board is now
willing to have more credit 60
into the purchase Of stocks.
The demand for loans from
businessmen has perceptibly
slsckened since last summer.
banks have more money left
over to 90 into stocks-and by
cutting the credit requirements.
the Central Bank is encourage
ing this 70 happen.
Although there's no way TO
prove this. the Federal Reserve
Board probably timed the
move for that day to take some
of the curse OF the business
statistics which were sinful
taneously released. For on We'd
nesday the Reserve Board an
nounced that its index Of indus
trial production had dropped
another three points In
December. bringing the decline
since August TO s per cent. and
the Commerce Department dis
closed that the annual rate OF
personal income had slumped
SIS billion in December, the
sharpest decline since the in
come slide began. The margin
requirement cut came n'top OF
these reports. helped Offset
their gloom.
Now. before going into what
the move means. let's say plain
ly what 1t does not mean.
IL does not mean that stocks
are a better" speculation to-
day than last Wednesday. The
reduction in margin require
ments may stimulate more
speculation. but IL doesn't
make stocks a better specula-
ton.
It does not mean that stocks
have more basic value today
than on January IS. the day
before the cut was made.
Value II Unchanged
II does not mean that the
key force behind a stocks
value--the earnings Of the cor
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19
HOW WALL STREET JOURNAL
READERS GET MORE
OUT Of LIFE

how to interpret business and
government trends . little better
than they do. They wonder where
get my inside DOPE"
This story is typical. Because the
reports in The Wall Street Journal
come to you daily. you get quick
warning Of any new trend that may
affect your income. You get the
facts in time to protect your inter.
ests or seize profit. The Journal
is q wonderful aid to salaried men
making $1,000 to SEQ, 600 a year.
II is valuable TO owners Of small
business concerns. 1t can be OF
priceless benefit to ambitious young
men.
The Wall Street Journal is the
complete business DAILY. Has
largest staff OF writers on business
and finance. The only business paper
served by all four big press associa-
tons. 1t costs $50 year, but you
can get q Trial Subscription for
three months for IS. Just tear out
this ad and attach check for SIS and
mail. Or tell US to bill you. Ns-is
Il Broad Street. New York (. MY.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19

ADVERTISEMENT
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19
Value II UNCHANGED

II does not mean that the
key force behind a stocks
value-the earnings OF the cor
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19

Address The Wall Street Journal a Broad Street, New York N.Y.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19
w ICH
Mutual Funds
Perform Best
FORBES AnoIyzes
POI Mutual Funds

FORBES researchers spen; weeks ex-
ploring the record OF every one OF the
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funds. applied : tough tests Of man
ments are really eerning their fees
which are dotns little more than col
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holders
This hArd-hit,ing FORBES report Is
written from Nour point Of view. rot
the mutual funds saiesman's II shows
has grown durins the sreatesi Of All
bull markets; reveals clearly how each
Fund has Jared in the tricky market
81 $50 IN the IS months the
market shot streieht Up tells what
past IS months. N deals With such
"sott-pedeled" matters as the ioad
charge, tells YOU how much you're pay.
ms and chat you're setting for man
aeen ent fees. viii hslp you determine
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fgf wfs~ ~- IS. ~~ 10 objective
'RAtinss Of sol Mutual Funds" is must
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Clip and mail this ad with your name
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Then keep posted on latest develop
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~A0A~A roo uoNr~
kO0D6O MANAGEMENT
70 Fifth Ave. New York Ii. N. Y.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19

tint Of tradins 10 shsres or sales IA fli Rates Of
oNnefds IN Inc t0fegolng table annual dishuFSc-
meygts based % the last quarterly OF semi. annual
Sselafasch Unless Otherwise noted, special OF extra
:. asHnai rat. plus stock dividends dDcrlared OF
pad 10 1907 Plus stock dividend . Declared or naid
70 FAR thus year PAYABLE In Stock durinf fs5J
estimated cash value dividend or "a disiTibuion
Gate Pad last DECLARED ar paid after stock
ditidend o. spaiup / DECLARED o. paId this year
~ aecemAiite issue With dlsdends IN arrears Paid
q "a. ds'aen1 meeting Deelared or paid IN 1853
plnN stock dividend. Payable In stock duFing laa
estimated cash value on eAdividrnd or "a isfTibaoa
date: Lagldating dividend ed Called IL eisi.
oena Nois T. atstn0utsou NJ IN rights Without
warrants W. Win warrants, wd When Distributed
~ When issued nd Neat day delivery. In bankrupey
Ieceis eFshp or being fr0rEAnxed under the Baak
Iupses Act. OF securities assumed b. such compa MES
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-01-19
Charter No. 1850 Reserve District No. 5
REPORT OF CONDITION OF THE
AnacOstia National Bank

OF Washington. the District Of Columbia at the close Of
business December 81 1857 Published call
made by Comptroller of the Currency under Section SILL u
Revised Statutes.
Evening star., 1958-04-17

ruled complaints In the Ben
ming road case.
Mr.. Lane said he planned 10
take the issue 10 court.
Complaints Brought Change
Mr.. Weakly, after the hear
Ing. said In his opinion MOTH
ing In the ABc Act requires a
completed building on q pro-
posed liquor store site at the
time of application.
He and member Alan w.
Payne said Southwest liquor
dealers last year protested they
could not afford 10 invest In
new buildings without knowing
the outcome OF license applica-
tions. Mr.. Payne said the rule
change was made partly 10 help
these dealers.
A number Of Southwest deal
ers being ousted by redevelop-
ment have been having din
Guilty In finding locations else
where In the city.
The World transfer was APP
proved by the board on an ear
lier application last October,
But the license was later re-
newed for the present South
west location because q build
ing wasn't ready on the new
site.
Evening star., 1958-04-17

pass every case through the
courts, Mr.. Shea said.
A member OF the subcommit-
tee, j. Z. Bindeman. said the
group probably would make
recommendation within the
next month or two for such q
voluntary program. similar to
the one now In effect at 50.
Elizabeths Hospital.
Higher In 1885
The welfare director also told
the advisory group that public
assistance cases last month
reached the highest total In
more than 20 years,
The total number Of persons
aided was 10000. he said, with
total expenditures Of s7S6.924.
The all-time high caseload
was in February and March,
1886, when $4,000 persons we're
receiving assistance.
In his monthly report TO the
council. the welfare director
Evening star., 1958-04-17


years "or even longer" the di-
rector stated.
Despite excellent m e d dical
care. the Ave who died arrived
too late 10 be saved. Mr., Shea
explained. The new infrmary,
with a 200-bed capacity Is about
half filled.
All commitments 10 the
school must be made through
regular District court pro-
cedures. Mr.. Shea told q meet
ing OF the Public Welfare Ad-
visory Council. The new in
firmary has resulted in q
stepped-up admissions program
OF 20 new commitments every
other Friday.
Short Cut Sought
A subcommittee OF the coun-
ell is working on a series Of
proposals that would make vol
untary commitments to the
school possible. This, would
eliminate the present need to
Evening star., 1958-04-17

yesterday attacked the new
ABC stand. The stand already
had been challenged In q IL
cense case. heard three weeks
ago. involving an application
at 4520 Bennine road Sc.
The X street location Is be-
ing sought by Harry Gilden-
horn and Arthur Fingerhut.
operators OF World Liquors.
Inc. now at 40l Seventh street
S.W. The location on Benning
road is sought by David Miller.
now in business at $40 Seventh
street S.W.
Photos Submitted
Michael J. Lane, attorney and
a member Of the Southeast
BusinesSmen's Association. yes
terday charged that the board
was violating the ABC Act in
even considering the World APP
plication.
He labeled the proposed site
"a pile Of rubble.' He also
Evening star., 1958-04-17

complained that the legally re-
CURED application notice posted
on the site failed 70 meet re-
Qulrements that II be "in q
conspicuous place on the out
side OF the premises"
William L. Mackey. second
vice president Of the Southeast
businessmen. submitted photo
graphs which he contended
backed MIR. Lanes second
charge.
ABC chairman, Frank z.
Weakly. overruled Mr.. Lanes
objections, He also had over
Evening star., 1958-04-17

also said the child welfare d.
vision handled q record 2e7
new children during March.
Delinquency commitments In
creased 81 per cent over Feb
ruary. he noted. The total case
load at the end OF March was
1925. compared 10 i.4o9 for
February.
Mr.. Shea reported that an
increasing number .of children
released from the children's
Center at Laurel had 10 be re-
turned due to breakdowns In
the community"
"A great deal of this" Mr.,
Shea explained. lis the result
OF the lack Of consistent super
vision and q stable home situa-
ton with the opportunity for
regular work and total accept
ance In the school system after
having been institutionalized. :"
Concern Expressed
Several members Of the
council expressed their con-
cern at this trend. They
asked Mr.. Shea II It wouldn't
be possible to educate the
parents-make them realize
their responsibilities - while
the children were institution
allied.
The welfare director ex-
planned that this procedure
was already being followed ito
the best Of our ability"
A solution for this problem,
he noted. is "a lot bigger than
public welfare"
Evening star., 1958-04-17
Shea Reports 5 Deaths
In School for Retarded
BY ANDREW BINGHAM
star stan Writer

Five children havesdied at the District Training Schools
nrmary In Laurel Md since was opened In February
Public Welfare Director Gerard NJ, Shea said yesterday
The school for the retarded gets lot Of children who are
dying he said There 76 persons waiting TO gain ad
mission. The wait In the past has been 70 two
Evening star., 1958-04-17
ABC Board Challenged
On Vacant Lot Approval
ny JAMES @. DEANE
star stan writer

rule change by the Alcoholic Beverage Control Board
being challenged In two pending liquor license
ABc members have decided allow liquor appica-
tons TO be submitted lots Until recently the
board had generally insisted that building be the lot
involved In any application
Opponents q package store at $40