davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-26
BY JOHN A. GILES :
Star star Writer

The giants Of the credit-carc
world are drawing up battle
lines and even the keenest eco
nomic observer is hesitant Il
predict the outcome.
But the businessman-listins
to starboard because Of a wallet
bullying with greenbacks to pay
the bills or an ever-increasine
number Of credit cards can't be
the loser.
There was a time when green
backs alone we're the only
means of navigation. The
introduction Of travellers checks
relieved some Of the baggage
Then came the credit card
which would pass for cash in
almost any situation-or at
least that was the theory.
AS the years have gone by
the credit cards have tended
to multiply until the business
man today can reel them out
as he probably did with short
snorters" in World War II
There's been one for virtually
every hotel chain, oil company
transportation medium and
restaurant. The collection OF
cards put the recipient right
back where he was with a fist
full of currency--a permanent
list and a bursting wallet.
Becomes Industry
In recent years credit cards
have become an industry in
lthemselves-just I'LL out the
hand application and you can
charge, charge, charge. say
the advertisements. 1t looked
mighty inviting. And it pro-
vides a convenient record oil
expenses for Internal Revenue.
And the response has been
terrific. Last April 80 service
businesses such as hotels, res
taurants, etc., reported more
than SIS billion outstanding. a
sizeable share Of it on credit
cards. Ten years ago the figure
was 1894 million.
Up until now the credit card
world has been the world of
smallish concerns or Arms
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-26

the 314 per cent return offered
on the new bill.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-26
FOREIGN EXcHCE

NEW YORK, Sept. 20 (APl.-For.
elan exchange rates Great Britain In
dollars. other In cents; unbalanced un-
less otherwise noted.
Canadian dollar In New York open
market ga per cent premium or lO2 80
US. cents, on l/32
Europe. Great Britain lpound)
S2.SOS, on I. Of q cent: Great Britain
80 day futures ESQ l/32, on 1889;
Great Britain 30 day futures $50 5/32.
on lL32; Great Britain 40 day futures
ESQ l/32, on IL: Beleium IfrancJ
2.OOsa; France drancl % 20 /32 OF a
cent; Germany western, tdeltsehs
on .0l Of cent: Italy lliral .l6n OF
a. cent; Portugal lescudo) 3 80; Sweden
lkronal 1884: Switzerland (francl
tfIeel 1884. Denmark Ckrone) 1880.
Latin America: Argentina free
.95; Brazil lfree) SO Of cent;
Mexico sol Venezuela (boliyarl 30 90.
Far East Hong Kong dollar 1888.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-26
WOrthington Adopts
New Trademark

Worthington Corp. ha S
adopted q new trademark of
w to identity its products more
clearly. Its old trademark OF
Egyptian scarab wings was not
recognized easily, company Of
ficials said.
The company promotion de-
partment decided on q w, the
top Of which resembles the for
mer trademark, after careful
study.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-26
MUTUAL FUNDS

NEW TORk. Sept 70 HPl.-tNstisnaI A.
soelatisa Securities Dealers. Iae.l
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-26
'4 3 BUSINESS
Oversubscription Seen
For Treasury Offering
BY DONALD b. HADLEY
star Financial Editor

Generous terms Of $35 billion offering of Treasury
bills and next Monday will result heavy oversub
scripton 1t predicted in the financial district today
The Treasury announced last night it will offer 81 billion
of l3month notes dated october 10 and due November u.s.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-26
Palmer Praises CLU
At D. c. COnferment

Thoroughly traine d career
life underwriters have helped
to create the broad foundation
of public confidence that has
made possible the great in
crease in life insurance protec-
ton, declared H. Bruce Palmer,
president of the Mutual Benefit
Life Insurance Co. of Newark.
N. j., last night.
Addressing the annual confer
ment dinner of the District
Chapter. American Society Of
Chartered Life Underwriters. at
the Columbia Country Club,
Mr.. Palmer emphasized that
nearly three-fourthS Of all the
people in the United States
now own some form Of life
insurance and that policyhold-
ers continue to increase with
the expanding population.
Gu candidates who passed
their 1858 examinations and
received certificates at last
nights meeting included: Rob-
ert M. Galloway, jr., Joseph s
Hurley. William F. Jacoby, jr.;
Oliver j. Judge. Julian g. Muir
ply Miles M. Prescott and
Charles M. Trubac. g. Edward
Hacking received his Gu In
MANAGEMENT.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-06-22

foreign languages. among
most OF the families In North
America, Is disgraceful; and
many Of them might remedy
II, At least In part. by making
q vacation project out OF
foreign language study.
II would be even more In
teresting II you can get two or
three families together. They
could meet once a week. or
preferably several times. and
YOU could probably ind some
one, perhaps q war bride.
who would be delighted to
help you master the pro-
nunciation which is. OF course,
the big problem.
A want ad In the news
paper would probably unearth
some such person. II not.
you can fall back on phono-
graph records. Such courses
used 10 be quite expensive
but the advent OF LIP records
has brought these courses
down 10 where some Of them
cost no more than $40.
There are also simplified
courses for children that cost
considerably less. Any large
bookstore or record house can
give you the information.
II you are Of fairly recent
European background. as is
a large part Of the popula-
ton Of this continent. learn
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-06-22
ALMANAC
Expert Discounts
Gloom Apprdisdls

and It's craftsmanship. Vic
torian and Empire furniture
"just won't sell"
While Mr.. Burners auc-
tons include assignments
from estates all over the
East Coast. he believes the
Shenandoah Valley Of vIr-
ginia still is one OF the rich
est sources OF antiques.
The combination Of wealthy
estates and land-rooted pop
ulation, particularly the
Mennonites. provides a va
riety and a plenitude OF
antiques.
His own home reflects this.
As a whim. he decided years
ago TO buy one item from
each Of his sales. Now he
has reached the point where
he selects small, decorative
pieces. Furniture-wise, the
house will hold no more.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-06-22
YOUR FAMILY
AND YOU
Vacation
Time Can
Be Useful
BY DIR. PAUL PoPENoE

national NsNtpAper syndicate
Why not make this summer
vacation the time for the
whole family to start on a
foreign language2 Mrs. Mem.
brings UP the subject again.
Does II do any harm 10 chill
dren 10 learn a foreign Ian
guage as well as their own
! mean. at the same timer"
she writes. MY husbands
people were from the Old
Country and he's always
wanted our children TO learn
something OF the ancestral
tongue. A woman who speaks
II as a native has recently
come here and would give US
lessons: but I wouldn't want
the children to get mentally
confused"
BY all means go ahead.
Mrs. McM. The ignorance Of
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-06-22

Ing the language Of the
country Of origin is especial
~ appropriate. Elsewhere you
can learn one that Is neigh
borly-French for the Eng
lish speaking Canadians.
Spanish for residents OF the
Southwestern United States,
for example.
But any Of the important
European languages are
worthwhile. Don't be a per-
fectionistl Don't think you're
going TO become fluent ex-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-06-22

perts. Make a game out Of Il;
have some fun.
Most youngsters are going
10 have some spare time this
summer. and they ought 20
make II profitable. Language
study. either with phono-
graph or with a teacher. win
cost very little II the expense
Is divided among several fam
lilies. Try II.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-06-22
BY GEORGE FLYNN
star stan Writer


WOODSTOCK. Va, June
2i-Amid the current pur-
veyors OF gloom In the
antiques field, optimistic Dan
Burner cuts a rebellious
swath.
The bristly. self styled
county auctioneer" dis
counts the laments that
antiques no longer are a
good investment. or that fine
pieces have been gobbled up
by museums and rich coll
lectors.
As an auctioneer, he knows
that. as inevitable as death.
collections must change
hands periodically. And auc-
ton prices, the best test OF
true value. reflect the con-
temporary economy.
Since 1894. Mr.. Burner
has been conducting auctions
at his barn on the main
street Of Woodstock. watch
ing millions OF dollars Of
furniture. china. glass and
other items 80 under the
hammer.
"One OF the early sales
lists. put up again today. will
bring thousands more" he
says.
Don't Anticipate
In between, there are vari-
ances. though.
One of his precepts,
learned by experience, is this:
Don't try to anticipate what
anything will bring at
auction
Good things" he finds
won't bring what they
should, while classified junk
brings more than 1t should.
Fine paintings and rare pc
Rod furniture in pine, ma
hogany and walnut often
are stolen at auctions"
Over the years, he has
carefully developed his audi
ences from the Virginia hunt
country, so that at his auc-
tons you can find repre-
sentatives from some Of the
Nations wealthiest families.
He finds them shrewd buy
ers, who appraise their pur-
chases in advance and bid
knowingly.
They know what they
want. When they make q mis-
take, they don't fuss about
It,"
Arrive Early
with the outdoor auction
season picking I'D steam, Mr..
Burner has this advice for
bidders:
Arrive early and examine
the items in which you're
interested.
country auctioneers"
work faster than city auc-
tioneers, being experienced
in all types Of auctions.
especially the type where q
farm homestead's contents
household goods. farm equip
ment and cattle-must be
sold of in one day and no
time can be lost.
Bidding is shut OF at the
first lull and the laggard,
though prepared to offer
another bid, can find himself
frustrated by his hardness.
Mr.. Burner suggests that
the inexperienced study"
the auctioneer. When two
bidders are willing to 90 sky
high in competition for an
esteemed piece. an auction
eer Is likely to "shoo on"
other bidders when the bid
ding passes q reasonable
market value.
In recent months, Mr..
Burner has noted. prices
slipped slightly but the de-
mand IL strong for American
and British works Of the 18th
century.
victorian . Drug
Despite O national surge Of
interest in the Victorian era
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-07
BY ED MORSE
AP Financial Writer

NEW YORK. Sept. g.
The stock market entered its
post-Labor Day phase this week
by setting a new high for 1858
and making the biggest weekly
gain since July 20.
The four-day trading week,
shortened by the Labor Day
holiday. produced a daily trad
ing average of 2,950,07l shares.
the fastest trading rate in four
weeks.
Substantial rises by some of
the blue chips pushed the AS
ISOLATED Press average to new
SO peaks but 1t was by no means
a one-way market. There was
considerable irregularity. For
the week as a whole, advances
outnumbered declines by 682 to
523. far from a runaway.
In pushing ahead despite
profit taking the market
ignored the crisis headlines
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-07
YOUR
MONEYS WORTH
Building Code Reform on Way
~ SYLVIA PORTER

for reform. of which these three
points are crucial:
ID II code reform is to get
anywhere. the movement for
reform of the residential code
must be divorced from reform
of the code for office buildings,
factories, stores, etc.
CD The American Standards
Association can act quickly by
re-packaging into a single resi-
dental construction standard
the almost identical construc-
ton requirements for one and
two-family houses now in the
three model codes and the New
York State code. The three
codes are known as BOCA
building Officials Conference
of America, Southern and In
ternational.
CD The ASA should set UP
machinery for annual revision
Of the proposed standards, for
the revolution in BODYBUILDING
materials and methods is COM
ing so fast even the best code
can be obsolete in a few years.
The ASA-founded in 1918
as a clearing house for the in
tegration and coordination of
standards and made up of 118
trade associations, technical
societies and professional
groups-is responding to the
round tables challenge.
Tuesday in New York City
it is holding its first hearing
on approving unified stand
ard for building of homes.
While there will be plenty
OF oppoSition-outSpoken and
subtle-from groups wanting to
keep the conflicting local codes
to protect their selfish indus
trial interests or to block COM
petition from new products, the
odds now are that the ASA will
approve the reform.
Distributed 1858 by the Hall syndi-
cate, Inc. All Rights Ressrved)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-07
BUSINESS
BRIEFS
Montgomery Ward & Co. re-

Montgomery Ward & Co. re-
ported August sales totaled
$92, 464.710. a decrease of Ia
per cent from $93.815,457 for
August, 1857. Sales for the year
through August 80 were 1884,
1856, 389, an increase of 8 per
cent from $559,820,777 in the
corresponding period last year.
General TransistOr Corp.
President Herman Failkov and
DR.. Bowling Barnes, president
Of Barnes Engineering Co. have
announced they are discussing
q merger. Terms would include
one share of General TransiS-
tor for 334 shares of Barnes
Engineering.
Flying Tiger Lines District
sales manager at Detroit, Paul
FinazZo, said a rush by the big
auto makers to produce and
market 1859 models is causing
the biggest boom in air freight
out of Detroit since 1856. He
said this week end and next
may see all-time records set for
loads of automotive assembly
parts, trim and accessories
moving from Detroit.
Drug industry sales in 1855
should exceed those of 1857 by
some S per cent or less, reflect
ing increased foreign business
as well as introduction of new
drugs or improved forms OF
older pharmaceuticals, Stand
ard & Poor'S Corp, investment
advisory service, said.
Chairman Robert SarnOff Of
National Broadcasting Co.. said
Matthew Culligan and P. A
Sugg have been elected execu-
tive vice presidents. Mr.. Guilt
gan is vice president of NBC
Radio Network and Mr.. Sugg
vice president of MICS Owned
Stations and Spot Sales Divi-
sion.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-07

Lie ulOSL expensive tIllnB
about today's house is not its
year-round air conditioning
system or its completely tiled
bathroom or its almost auto
matte kitchen. The most ex-
pensive thing is the local build
ing code under which the house
must be built and that codes
countless and often senseless,
wasteful variances from sound
national standards.
These variances are thor
oughly useless and add a good
81 ,000-or call it a bad $1,000
TO the cost of even a small
home.
Even worse, they discourage
progress in Standardization and
the development of mass
produced standard parts that
would knock the bottom out of
many ome-building costs.
I'VE can't tolerate this sort
Of waste. particularly in this
infiationary era. Never has the
need for code reform been as
urgent as today"
With these words to me,
Perry Prentice, editor and pub
Usher of House and Home, ex-
planned the background of the
powerful drive which has de-
veloped virtually overnight to
get the American Standards
Association to develop and APP
prove American Standards for
the construction Of one and
two family houses.
The campaign was spanked
last May when House and Home
by far the largest publication
in the building industry, called
a two-day round table on resi-
dental code reform. To that
round table came So leaders of
every segment of the home
building industry, code officials,
spokesman for top associations
OF architects. bankers, savings
institutions. realtors, ETC., and
representatives of the public.
The participants pulled apart
the 81 1000 estimate Of the waste
due directly to chaotic and ar
chaic codes. 1t is made up of
a few dollars for extra weight
OF plumbing beyond what makes
sense. OF a few more dollars
for a worse than-useless house
trap on Q waste line. OF a
few more for metallic armor
around electric light wires when
when nonmetallic cable would
do just as well and be cheaper.
OF additional dollars for
studs spaced ON 16-inch centers
when "a inches would be more
than strong enough. OF still
more dollars for needlessly
heavy sub flooring.
And so out Of that round
table came a 6-point program
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-07
Earnings
CONTINENTAL Motors in the

Continental Motors in the 9
months to July 81 earned 81
375.0 DOT, or II cents a share, VS..
$2.744.933, or SO cents, in the
1857 period.
F. H. McGraw & Co. in the 9
months to June 80 earned
$241.262, or SO cents a share,
VS.. $72l sos, or $1.63, in the
1857 period.
Piasecki Aircraft Corp. in the
year ended June 80 had a net
loss of $53,145 VS.. a net loss of
$500. 437 in the 1857 period.
Republic Natural Gas in the
year ending June 80 earned
So. 100. 682 VS.. $4,382.841 in the
1857 period.
Two Guys From Harrison in
the 8 months to May 81 earned
$674.658, or "a cents a share.
Aircraft Radio Corp. in the 6
months ended June 80 earned
$163,S2S. or SO cents a share.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-07
N. Y. COTTON

NEW YORK, Sept. 8 P).-Cotton
futures plodded 4 narrowly irregular
course this week. but closed with ali
deliveries in higher ground. The dis
tant months made the best showing
Active contracts on the New York
Cotton Exchange finished the holiday
shortened week at prices ranging from
80 to 95 cents a bale higher than a
week ago Nearby October and De-
cember scored the smallest gains, dis
tant March and July the largest
The Commodity Credit Corp report
ed that Gross entries into the 1858
loan during the week ended August
90 totaled 62.123 bales as Compared
to 34,923 the week before. Trade
sources pointed out that this total
was far ahead of the 10000 which had
been pledged under the 1857 loan at
approximately the same time last
season.
Exports for the week ended septem-
Der were estimated BY the New York
Cotton Exchange Service Bureau at
$4,000 bales compared TO 10000 the
previous week and 10000 in the like
year-ago week. For the season through
September ., exports were estimated
at $4,000 bales. This compares with
total Of 336. 900 at the same time
last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-07
Stocks at New '58 High
In Post-HoIidoy 7 rode

about the Formosa Strait and
possible involvement Of the
United States in a Far Eastern
conflict. The same indifference
was displayed by commodity
markets. which were virtually
unrufiied by the diplomatic
crisis.
Prospects Of further credit
Tightening moves by the Fed
eral Reserve Board had a some
what dampening effect on
trading for a couple Of sessions
and was more of a market in
fiuence than the Formosan
situation.
Interest continued in lower
priced, more speculative issues.
At the same time, institutional
buying was important enough
to push some of the high quail
ity issues to unusual gains and
1t was this that raised the
average.
Eastman Kodak, a fayorite
blue chip among the big insti-
tutional investors, strobe ahead
AZ in the week. American
Telephone. another conserva-
tive favorite. added 31s. This
rise was aided by renewed hopes
OF a possible stock split and
higher dividend, a recurrent ru-
NOR on Wall Street.
The average was also boosted
by a huge 8ss advance for
Kroger. Buyers fiocked to
this stock because of whispers
that a stock split and higher
dividend were forthcoming.
The APP 60-stock average rose
1920 to $4,000. putting it at
its highest level since July 20,
I1Q57 whan IL stood at N1Q7 IN
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-07
HOW SOME or THEM
STACKED UP BASED ON
Sim INVESTMENT

In addition. this impartial report gives
you the naked truth about loading
charges and other little discussed sub
jectS-shows clearly what you get Tor
your money This unusual report VIII
answer your questions on whether
mutual funds are right for you-and
II so, which best suits your purposes:
If you already own fund shares, 1t VIII
show you how your holdings compare
with other funds; II you manage your
own investments, you can see how
your own record stacks up with the
results of professional managementS.
Every alert investor can profit By
reading ratings Of 2l7 Mutual Funds"
Clip and mail this sd today with your
name and address for a whole year Of
FORBES for only SO including FREE
i2-paee 1858 study, RATINGS Of 2l7
Mutual Funds" Then keep posted on
latest Developments. by, reading our
regular Mutual Fund Column in every
issue OF FORBES Pay later when billed
or send ST now a. get > extra issues
FREE. Ten-day money back guarantee.
Dept. ADJ.
431
FOR B ES s t's;I 'a
10 Fifth Ave-, New York II. n. Y.
S:S33 ~
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-07
ADVERTISEMENT
A BUAINSTORM
HELPED ME- EARN
$3.50 A week
By a Wall Street Journal
Subscriber

Not long ago l went to a college
reunion. spent some time with
some chaps who were having q
"brainstorm"-a talk-fest where
each man contributes his own
ideas on a certain subject.
The subject of this particular
discussion was MONEY!
There was one man in the
group who earned more than all
the rest of us, but he wouldn't
talk. So we ganged up on him
and kept shooting questions at
him. Finally, he opened up and
gave US some wonderful ideas.
/ can't remember all he said,
but one bit of advice l do recall.
He said, Subscribe to The Wall
Street Journal. 1t will help you
get ahead"
Well, to make a long story
short, l tried it, and IT DID.
Within short time, my income
was up to $3.50 a week.
This story is typical. If you
think The Wall Street Journal
is just for millionaires, you are
wrong. The Journal helps sal
aried men making $500 to
$4,000 a year. 1t is valuable to
small business men. 1t can be of
enormous benefit to the ambi-
tious young man who wants to
win advancement.
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
three big press associations. It
costs $24 a year, but you can
get a Trial Subscription for
three months for 81. Just tear
out this ad and attach check
for 81 and mail. Or tell us to
bill you. Address: The Wall
Street Journal, "A Broad ST.,
New York 4, N. Y.
Ws az
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-07

Unit Of TRADING 10 SHARES or sales in full Rates
Of dividends in the foregoing table annual dis
bursements based the last quarterly seni-annua
declaration Unless otherwise l0ted special or extra
Annual rate plus stock dividend Declared paid
In 1857 plus stock dividend Declared paid far
cash value exdividend ex.dsstTibuton date
Psio last year Declared or Daid after stock divi
accumulstiye ISSUE with dividends In arrears pPald
at last dividend meeting Declared paid IN 1857
plus stock dividend Payable in stock during 1853
date Lqqidati9g dividend ED Called Ex div
derd. xdis TX distribution u tx tights wv With
out warrants WV With warrants va When distributed
vi When issued nd Next day delivery In bankruptcy
receiverahip being reorganized under the Bank
ruptcy Act or securities assumed BY such companies
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-07

mostly choice stock steers 2s.75. load
ner $50 ID common and medium 1880
short 2 loads 460-475 ID good and low
choice stock steer calves $3.50, few
a0O- 46S ID medium 10 good $500
Hogs: Compared last week butcher,
I0-l 90 higher. sowS steady: receipts
20 per cent under last week, about
same as last year hulk mixed Us / Z
and l90-240 ID butchers 2I.o5-5C
early in week; weights over 700 ID.
mostly Do sbout SO head mainly No
US J > l9O-24O ID butchers closed al
n .1o-22 90, weights over 200 lbs al
latter price few scattered head mixed
NO l-3 300-4U0 ID sows rs .50-la5O.