davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-16
YOUR
MONEYS WORTH
RY SYLVIA PORTER
The Leak Was 'Looic'

Representatives Patman, Of
Texas. and Multer, of New
York, charge that there was q
''leak" to privileged persons on
the Federal Reserve Systems
most recent anti-recession
money-easing move-the cut
on March 7 in the rate the sys-
TEN charges to its member
banks for loans from pa to, ~
per cent.
AS a result. says Mr.. Patman
smart boys" were able to
"clean up a profit" If the APP
propriate committees in Con-
gresS won't investigate, threat
ems Mr.. Multer, he'll carry the
issue to the floor of the House
Well I am hardly a
bleeding heart" for Wall Street
and in my years covering a f.
nancial beat, I've been around
when some mighty important
advance tips have permitted
insiders to clean up. But on
this charge. I think the Con-
gressmen are way of base.
For the Wall Streeters who
did make money because OF
that interest rate cut didn't
need a leak to help them; all
they needed was logic.
Conversations Recalled
Come along with me as I re-
port some Of my conversations
on the days in question and
you'll see what I mean.
Tuesday, March 4, around
2:30 pm, an investment bank
er in Wall Street told me the
corporate and municipal bono
markets have become danger
ously overloaded with new, un.
sold issues and something has
to be done to break the jam.
ask him if he had heard any
reports on what went on at the
regular closed-doors meeting Of
the Federal Reserves top poll
cy-makers known as the Open
Market Committee) that day
in Washington. He says, mo
who ever does?" but adds, I'm
sure they decided the economy
is still deteriorating and they
have to do more to ease money
We talk about the discount
rate; he remarks. "They can't
hold of much longer. I'm bet
ting the cut comes this Thurs
day."
Wednesday, March S, around
2 PM call a bond dealer
and ask what's going on. He
tells me a new issue of Union
Electric Co. is getting a sue
cessful reception and the mar.
kets are starting to clear. I ask
If this has anything to do with
the discount rate cut. He an
swers, Everybody is expecting
it. The Federal Reserve BOARD
can't sit by and let the mar
kets freeze UP. That would be
a fine way to fight recession!"
Thursday, March 6, around
1880 a.m.-Another asks me Il
I'm staying around until after
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-16
A Conversation
That Helped Me
Earn $1,000
BY a Wall Street Journal
Subscriber

While lunching at the Athletic Clubl
/ overheard two men talking aboutl
how to get ahead.
Il read The Wall Street Journal
every day." said one.
80 do r. exclaimed the other.
They looked like smart businesss)
men, and so | said to myself, "Pml
going to subscribe"
\ That happened several years ago.l
] was earning 500 a week at thel
time. | mailed a check for $50 to
Thes Wall Street journal. | have
been reading that remarkable news-'
paper ever since. 1t has helped me
win advancement. 1t tells me how to
cut expenses and save on taxes, how
to cash in on new income opportuni-I
ties. Last year my income increased
to 1000
This story is typical. If you think,
The Wall Street journal is just fori
milionares, you are WR0NGl The
Journal Is wonderful aid to salaried
men making $1,000 to $4,000 al
year 1T is valuable to owners Of
small businesses. It can be Of price,
less benefit to ambitious young men
who want to earn more money
The Wall Street journal is the
complete business DAILY Has larg-.
est staff OF writers on business and
finance. The only business paper
served BY all tour big press aSsocia-i
tons. 1t costs $40 q year. but YOU
can get a Trial Subscription for three
months for So. Just tear out this ad
and attach check for Sc and mail. !
Or tell US to bill you. Address: The
Wall Street Journal, "A Broad St.,
New York 4, N. Y. wsa.1s
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-16
~ SYLVIA PORTER

the close Of the markets. When
] say ! am, he says, IF you get
news Of the discount rate cut
before We do, give me a ring"
He adds. We're getting rid of
our inventories of bonds nicely
now"
1880 pm. - An economist
friend calls, remarks that he
hears the Soon-to-be-released
unemployment figures will show
jobleSsness above S million and
ne reasons that the reserve
board will want to announce the
discount rate reduction before
that news hits. His comment:
They'd better show they're
ahead of the news, not behind
4 it,"
Press Conference Set
2:45 PM remind myself
that the New York Reserve
Banks regular press conference
is at $3.50 and call back a few
contacts, telling them to look
for news within an hour. Says
one, THE whole street is full
OF the rumor. OF course.
we've had the rumor every
Thursday lately"
4:O5 PM get a call. The
discount rate has been cut to
2A per cent by the New York,
Chicago and Philadelphia Re-
serve Banks.
4:30 pm. Confirmation
comes over the Dow-Jones tick
er tape. The cuts are to become
effective Friday morning,
March 7.
Was it a big leak?
1t was not 1t was logic. Wall
Street anticipated this move
because the entire market
economic background called for
it.
Did Wall Street "clean up?
Some men did. Since the Fed
eral Reserve System began to
ease money last November, the
bond markets have been in the
fastest, SharpeSt rise in all his
tory and those in the bond mar
kets have been making for
tunes.
distributed 1858 by The Hall
syndicate. Inc. All Rights Reserved }
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-16

Rates OF dividends In the foreRolnR
table are annual disbursements based on
the last quarterly OF semi.annuai decia.
ration. Unless otherwise noted, specis,
OF extra J dividends are not included.
Also extra OF extras. Annual rate
plus stock dividends, d Declared OF paid
" lyol plus stock dividend Declared
o. paid so tai this year PAYABLE IN
stock durine 1857, estimated cash va,ue
on ex-divldend o. redistribution date.
Pad last year. h Declared o. paid
aitei stock dividend o. split.up. kDe.
clafed o. paid this year an accumuiatiVe
issue with dividends in arrears. D Paid
TINS year dividend omitted, deferred or
no action taken at last dividend meeting
Declared OF paid In 1858 plus stock divi
dend Payable In stock during 1850
estimated cash value on ex-diyidend OF
redistribution date LiqnidatinR div.
dend, cid Called. 4 En- dividend x.dis
~ distribution xI ~ rights XIV With.
vut warrants. WV With warrants. wd
Next day delivery, 'In bankruptcy ~
rseeiyershlp or beins reorganized under
the Bankuptcy Act, OF securities assumed
BY such companies.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-16
NEW YORK COTTON

NEW YORK, Mar. is R1.-cotton
futures prices followed an up-and-
down course this week and closed mixed
Active contracts on the New York
Cotton Exchange finished at prices
which ranged from IS cents a bale
lower to Sl.4O bale higher than a
The nearby May and June deliveries
lost 30 to 35 cents a bale, while all
contracts from distant october 1858
forward to July 1853 closed in higher
territory.
Bullish factors included Senate APP
proval OF a proposal to freeze farm
price supports at present levels.
Buying was also encouraged by ex-
pectations that the 1858 loan rate
would be above the previously an
nounced guaranteed minimum.
Selling reflected proft-taking and
uneovering Of stop-loss orders Market
sentiment was dampened By reports Of
tiles.
Exports for tie week ended Tuesday
were estimated by the Service Bureau
at 102 900 bales VS.. $4,000 the previ-
Gus week and 131 900 In the like 1857
week. For the current season through
March II exports were estimated at
3.63s,000 bales VS.. 4,S1g,000 last wear.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-16
Stocks Gain
As Gloomy
News Prevails
By ED MORSE

Associated Press Financial Writer
NEW YORK. Mar. 15.-The
stock market advanced again
this week as talk of a tax cut
grew louder.
The Associated Press average
Of so stocks showed a net gain
Of $1.10, putting it at $163.70
The rise was by no means
prompted by belief that an up
turn was around the corner
brokers said. The news about
business and the economy re-
manned gloomy.
On Tuesday the market was
buoyed by the voices of Vice
President Nixon and Secretary
of Labor Mitchell advocating a
tax cut. The prospect that
more cash might be available
for spending was obviously
appetizing to Wall Street. But
the major trend Of corporate
earnings remained down and
there was considerable diff
ference of opinion as to how
long the slump would last.
Everything seems to point
to imitation and more infla-
tion," said Gerald M. Loeb,
partner in E. F. Hutton & Co.
He expressed doubt as 10 the
near-term prospects for the
market but was convinced that
"the right" stocks are better
than cash for the long haul.
The five most active issues
this week on the New York
Stock Exchange were:
Lorillard, up AZ at 40 on
267 800 shares; Wilson g. Co.,
up 27s at 2112; General Motors,
up " at 1854; American Metal
Climax, up 11s at 81; and
Royal Dutch, unchanged at Al,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-16

tUnt Of trading 10 shares OF sales IN full Rates Of
dividends IN the foregoing table are annual diSburse
ments based on the last quarterly semi-annual
declaration Unless otherwise noted. special extra
B Annual rate plus stock dividends, Declared o.
so far this year Payable in stock during 1857.
estimated cash value exdiyidend redistribution
date. Paid last year Declared or paid after stock
dividend OF split-up Declared or paid this year,
accumulative issue with dividends in arrears Paid
this year, dividend omitted deferred no action taken
at last dividend meeting rDeclared or paid in 1858
plus stock dividend. PAYABLE in stock during 1858
estimated cash value ex-dvidend OF redistribution
date; yIiquidating dividend cid Called K Ex divi.
dend KIDS Ex distribution Ex rights XIV Without
warrants. WV With warrants. wd When distributed
wi When issued nd Next day delivery sIn bankruptcy
receivership being reorganZed under the Bank.
ruptcy Act. or securities assumed by such companies
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-16
MANAGING
PARTNERSHIP
AVAILABLE

We have been uwurded
the Distributor Franchise
from q Nationally known
manufacturer, for the Wosh-
inston Metropolitan Area
and the U. S. Govt.
The Managing Portner
must be ubIe to invest q
minimum Of Sl7,500 in the
business and be qualified to
assume full management re-
sponsibiIities.
II you con meet these re-
quirements, send q brief out
line Of business experience
and financial responsibility
TO
BOX 35s.V, Star
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-16
OVER THE COUNTER

The following bid and asked prices
are obtained from the National Asso-
citation of Securities Dealers, Inc, and
other sources but are unofiicias. They
do not represent actual transactions;
they are intended as a guide to the
securities could have been sold dndi-
Gated by the bidD or bought (indi-
Gated by the 'askedD at the time of
compilation U2 noon Friday. Origin
OF any quotation furnished on request.
WASHINGTON AREA LISTINos
The frontiersman., 1958-09-11
Salary Scale Set
 For City Mayor And CounciIlnsn

Members of the Palmer City Council Tuesday night passed and approved an ordinance establish ling salaries for City Councilmen and the Mayor, and establishing a maximum interim expense ac- count for the office of mayor ! Beginning with the inaugnra ton of the new City Council
 which immediately follows the election scheduled for October 7s l958, all members of the City Council will receive salary of $50 per month. This will go into effect on October IS.
 Beginning at the time of tho inauguration of the Mayor, which immediately follows the election in October 1859. the Mayor will receive a salary in the amount of $50 per montA- During the in terim, from the time the ordin
 ance becomes effective until the inauguration of the Mayor in l959. the mayor will receive payment by way of expense account in the amount of $50 per month. This sum is to be maximum amount per month, however, the Council may, in its deiscretlons 1approve additional out-of- town expenses for the mayor when he travels and acts on City of Pal
 mer business.
 The ordinance was passed as an emergency following a full read ing and the reading by title.
 The ordinance points out thar proper performance of the duties of Councilman and Mayor nee essitates the expenditure by the individual of his personal funds from time to time, in the handi- ing of the City's affairs
The frontiersman., 1958-09-11
EMERGENCY GRASS SEEDING PROGRAM SUCCESSFUL HERE

This summers emergency grass seeding program in the Matan- nska Valley is now complete, ac- cording to Philip R. Johnson chairman, Alaska USDA Disaster Committee.
 Johnson reports the program has been successful in filling the urgent need for permanent grass in this area. Seventy eight farm CTS participated in the program and seeded a total of l,706 acres. This acreage, combined with that seeded under the regular Agrl- cultural Conservation Program and by farmers without Federal assistance, has solved the conser- walton problem caused by the heavy Winterki1l of permanent grass in early 1857.
 Warm weather in January, 1857. induced incipien growth in grass in the Matanuska Val Icy, Johnson pointed out. This was followed by freezing rains which glazed over stands with two to five inches of ice which persisted for about six weeks By July, 1857, it was apparent that over half the permanent grass in the valley had been win ter-killed. This grass IN essential 10 protect the light silty soils from the strong local winds in the area.
 The U. S. Department of Agri- culture made emergency conser- vation funds available early this year for an emergency seeding program The program was hand led by the Palmer ASC Commit tee operating out of the Palmer Agricultural Extension Office. Most of the Federal funds were used to purchase seed and fer tiIizer,s while the farmer supplied labor equipment, and part of the cost of the seed and fertilizer
 The seeding was completed by June 30 with total of 1,706 acres of grass seeded and pro perly fertilized Most of the grass was seeded with nurse crops of oats or barley, which will be harvested for grain. Ade auate rains during the early sum rner ensured germination, so in
The frontiersman., 1958-09-11
Square Dance Club Begins Winter Sessions Friday

This Friday evening begins an- other Fall sesison of the Palmer Square Dance Club, an informal organization open to anyone in terested in the enjoyment, fel- lowship and challenge of square dancing
 Whether you prefer square dances, polka or schottische whether a complete novice or an old hand at it- whether you can attend every session or not you are invited to join us Friday at Carpenters hall, at 8 p-m-," said members.
 The first half hour of the first two sesisons will be given to i'm struction M the basic steps Those who are new at square dancing are asked to make every 6tfort to attend the introductory ses- sions.
The frontiersman., 1958-09-11
MANY ALTERS WIN
 BLUE RIBBONS

Blue ribbon winners in the All Division at the 1858 Matanuska Valley Fair were as follows.
 Class I, Bread: Susan Marble @, Carol Weisenberger, Marsha Hale, Karen Mckinley, Sharon Williams, Kathy Hurley, S2l. Grace Hurt, CD, Joyce Vaughan, (3), and Cheri Ann Draze.
 Glass II, Child Care: Susan Harrington, Sue Baugh, Margar- eft Brewer, Lila Ann Woods, and Eloise Pinkham.
 Class III, Clothing: Bonnie Vaughan @, Sharon Williams, Colleen Carter, Mary Weisenber- ger (2), Kathy Hubert (2), Betty Jo Wilson, Jacqueline McIntlre, Ida Hoskins, Audrey Dinkel (3), Kayleen Cassity, Josephine Rouse, Lila Ann Woods, Dorothy Camp bell, Tacey Nelson, and Phoebe Martin.
 Class IV, Food Preparation; Rose Ann Stepanoff, Frieda Hulke. Fred Barnes, Judy Miller, Barbara Lentz, Susy King, Bon nie Vaughan, Donna Harvey, Marsha Hale, Susan Marble, Sharon Williams, Florine Neal, Harold Nicoli, Eric Knutsen, Gym ], thia Blissard, Bonnie Vaughan, Kathy Hubert, Laura Lee Nel- son, Esaw Evan, and Linda Wyse. Class M, Food Preservation: Wythle Heaven, (2)- I Class VI, Home Improvement: Betty Jo Wilson, Thelma Schoon- over (2).
 Class VII, Gardening: John Ot- chek (5), David Martin (4), Le- Roi Heaven (3), Patricia Hobson (4). Wayne Eckert (3), Bonnie Bush 8, Carmel Lee Mohan (2), Burton Kehler, Vadney Bledsoe (5), Stanley Smith (3), Richard Washburn, John Sherman (2), Craig Trowbridge (2), Janet Mickaelson, Donald Brewer, Mar tin Sherman, Victor Barnes, Kel- line Palmquist, Shirley Neal (2), and John Yadon.
 Class XIV, Livestock. David Cottrell (3), SheryH Oberg, Jerry Hoskins, Lila Hoskins, Audrey Dinkel, Kelline Palmquist, and Phoebe Martin
 Class XVII, Poultry: Bill Dem ing.
 1 Glass X, Fruit: Larry Tyone- Glass XI, Forestry: John James.
 Glass XIII, Handicraft. Pamela Brown. Pauline Brown, Thelma Schoonover, Martha Jane Meier
 Class XIV, Club Booths: Springer Bees, Lazy Mountain Club. Kilowatts, Yard Improve ments.
 Dress Revue; Lila Hoskins, Helen Carter, Cheri Ann Draze, Joyce Vaughan, Sue Baugh, and Audrey Dinkel.
 1 Demonstrations: Patricia Hob son, Marion Huston, Shirley Neal, Richard Lewis, Susan Har- rington, and Sue Baugh, Kelline Palmquist and Kathy Coghlan, Patty Harrington, and Audrey Dinkel.
The frontiersman., 1958-09-11

Bills approved for payment ln- cluded Sl,03424 from the general fund and $6l354 from the water fund.
The frontiersman., 1958-09-11
Council Notes
Continued from page n


 A resolution for budget con- trol, along with the budget out line and method of control, was passed by motion. The budget control will go into effect the first of October. The below out lined method of control will be used at all times by all persons or person involved. l. All purchases of any and al1 types must be made by purchase order form and shall be accom- panied by the invoice of items purchased by company selling them.
 2. All purchase orders with the proper invoices shall be turned its at the City Clerks office every might.
 3. All time cards shall be ar- companied by a master time card listing the number of men each day and turned in each night as the City Clerks office
 4. Any corresponding in any section of any Department bud- get shall not be authorized for payment by anyone until pro- per suppliment to the particular budget is made by the depart ment head, and reasons given for the average at Council meet ! ing.
 5. A proper method for the safe keeping of all Funds under Bond. Savings account for all e1- cess assessments made and Bonds not redeemed on due date. ] 6. All sections in this Resolu- ton shall carry the Penalty oT Dismissal for failure to comply with same.
 An ordinance establishing sal aries for City Councilmen and tha Mayor, and establishing a maxi mum interim expense account for the office of Mayor, was passed as an emergency with one full reading and again by it's title. \ Bills approved for payment ln- cluded S1,034.24 from the general fund and $6l8.54 from the water fund.
 FOR FAST RESULTS TRY A FRONTIERSMAN CLASSIFIED
The frontiersman., 1958-09-11
PIN POPPEHS

Ken Westenbarger had high game With 225 scratch. follow ad by Bob Johns with "a 22l scratch. Mary Edmiston rolled a 200 scratch game and Westenbar- ger Had high series for the men with a 57O scratch. Doris Finn had high series for the women with a 519 scratch and 534 with handicap.
The frontiersman., 1958-09-11
PALMER BOWLING LEAGUE REPORTS

Winter league bowling at the Palmer Bowling Center got under way this week when the Pin Peppers rolled their first series on Monday night. Also rolling on Monday night was the new Mems Scratch Trio league. Results of these two series are as follows:
 DIN P0PPERS
The frontiersman., 1958-09-11
lN AND OUT AT THE
 VALLEY PRESBYTERIAN HOSPITAL

Patients at the Valley Presby- terian Hospital this week include Mrs. Clifford Bredeson, Mrs. Pearl Loberg, Mrs Larry Vasan- oia, Mrs. Ava Savton, Mrs. El- wood Killian and infant son, and Mrs. George Kalmbach and in fant daughter.
 Hospitalized, but now out, in- cluded Douglas Fancher, Elmer Hawk of Sutton, Phil O'Neill of Sutton, Karen Worledge, 2, John Brymer, Grant and Garnet With ey,, 10 year old twins, Mrs. Earl WI. Barry, Mrs. Stanley Davis, Annetta Sawby, and Peggy Alice Grasser, 4
 merly of Palmer. MT. TroWbridge passed away in the Seward Hos pital where he had been d pa tient. He is survived bv his wife, who was in Seward with him Funeral services will be held in that city on Tuesday, September 16- am@
The frontiersman., 1958-09-11
MENs, SCRATCH TRIO

Westenbarger and Stan FTost rolled even 200 games for high single and Westenbarger's high series for four games was 7l3; Art Stenberg rolled an even 700 for four games.
The frontiersman., 1958-09-11
WAYNE TROWBRIDGE

Word was received this noon of the death in Seward this mor- ming of Wayne Trowbridge, for
The frontiersman., 1958-09-11
FORMER CLASSMATES MEET AFTER 51 YEARS

College classmates of some 7O years ago had their first reunion here M Palmer when Martin Shu
 Ter of Bamont, California visited M D. Snodgrass- This was the first time the men had met since their graduation from Kansas State College 52 years ago, al- though they have been in touch MT. Shuler made trip to Alaska with his son to visit Mr. and Mrs Snodgrass. At the time the men were attending college Mrs. Snod- grass was college librarian, and we used to tease her, too" MT. Shuler recalled. Having taught school a number Of years, MT, Shuler is now semi-retired. most cases the grass Will be well established. The additional boost provided by this emergency pro- gram has reestablished this most important conservation practice at the level It would have attain ed If the Winterkill had not oc- cured, he pointed out.
 Johnson stated the Palmer County Committee and the Pal mer Extension Office are to be commended for the manner in which they ran this program
The frontiersman., 1958-09-11

The rrontiersman Page S Thursday. September Il. laaR
The frontiersman., 1958-09-11

FOR FAST RESULTS TRY A FRONTIERSMAN CLASSIFIED
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-11

VIII select 4 aualiied men 70 COM
olete sales force needed 70 install
new sales operational method
Previous expeT not necessary
Training session will begin imfne-
diateiy. In addition TO complete
training. the following dement's
will be provided:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-11
THOMAS MORTON IES, GITTINcs,

UNITED STATES pisTRIcT COURT
for the District Of Columbia. Hold
ing a Probate Court.-Estate OF
GUSTAV VOIGT, Deceased.-No,
05.9S3. Administration Docket
19g.-Application having been
made herein for probate of the
last will and testament Of said
deceased, and for letters tesla
THOMAS MORTON CUTTINGS. it
is ordered this 9TH day OF August,
VOIGT. JOSEPHINE l HOLLAND,
and the unknown heirs AZ law
and next OF kin Of GUSTAV
VOIGT, deceased, and all others
concerned. appear In said Court
on Monday. the 18th day OF Sep
TENDER, AID. 1865, at 10 O'Clock
AN, 10 show cause why such
application should not be granted.
let notice hereof be published IN
the "Washington Law Reporter"
and The Evening Star" once in
each OF three successive weeks
before the return day herein men
toned. the FIRST publication to be
not less than thirty days before
said return day. Witness, the
Honorable BOLITHA J. LAWS,
Chief judge Of said Court, this
9TH day Of August, AID. 1888.
(seal) Attest: ARTHUR p. SMITH,
Deputy Regtster Of Wills for the
District Of Columbia, Clerk Of the
Probate Court aull ,lS,25
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-11

wAsn aas9sFiap eapsFiilsmsal,
eaoloae oFl1laal FsffTeae6a uhc
ipafanha o. ether Waterfalls %
n9ftonal peius Coul6a seFua fha
pMFpotf orieiaeia mas eel ioai