davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03
Business failures
At Low for Yeur

NEW YORK, Sept. 3 (AP).---
There were fewer business fail
ures last week than during any
week of the year, Dun & Brad
street, Inc, reported today.
The business news service
fixed the total for the week
ended Thursday at GAG, or rs
fewer than the previous week.
In the comparable 1857 week
there were 262 failures.
Just six months ago the num-
Der of failures touched a 19-
year high at 358 for the week
ended March 6. -
The previous weekly low was
203 for the holiday week ended
January 2.
Fer the latest period all in
dustry and trade groups ex-
cept retail trade reported few
err failures than the previous
week. "a" 81
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03
Modern Steel Plants
OF Russia Described

Steel plants in the Soviet
Union are modern. efficient and
well managed, and compare IA
vorably with plants of the same
type in the United States. &C
cording to American steelmen
who visited them.
In a report to be distributed
by the American Iron and Steel
Institute, the American execu-
tiyes point out that the Soviet
steel industry is the largest steel
operation in the world under a
single management.
experimenting its 1858 Ca
pacity Of approximately so mil
lion net tons Of ingots is an
additional capacity of some Is
million net tons in the satellite
countries Of Czechoslovakia
Poland, Hungary and East Ger
many" the report declares
tSteelmaking capacity in the
United States on January l,
1858, was l4O,742.250 net tons
Of ingots.)
This giant steel operation
has tremendous resources, not
only for production, but also
for expansion, for moderniza-
ton and for all kinds Of re-
search and development"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03

1952-57 yielded 80 per cent Of
the total amount Of new capital
including retained profits, COM
pared with 10 per cent in the
years 1861.
Even though commercial
banks have doubled their capt.
Ital accounts since the end Of
World War II, the ratio Of cap
ital to risk assets has declined
from rs to is per cent, the
ABA study points out.
Surveying problems Of banks
selling common stock to in
crease capital funds, the study
comments that expanding
loan demand in the years ahead
Is likely to put further pres
sure on bank capital positions
Banks capital positions con-
troll their capacity to increase
total loan volume and to make
larger loans to individual bor-
rowers.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03
Auto Prices
For 1859 Still
Question

DETROIT, Sept. 3 (AP) -
The auto industry's pricing
plans for 1859 continue to offer
a big question mark to prospec-
tive new car buyers.
Few industry analysts expect
the auto makers TO hold the
present price line, stimulating
as that might be to new car
buying. The car manufacturers
do not yet know what their
overall operating costs will be.
Still to be determined is how
much higher wages will 60 when
new contract is agreed upon
between management and
hourly rated workers. Wage
increases In car company plants
also usually are followed by
wage advances in supplier
shops.
Small Boosts Likely
But, for competitive reasons,
price increases on 1859 cars
are likely to be smaller than
those made when 1858 models
were introduced nearly a year
ago.
The FIRST hint Of car price
trends for 1859 will come with
the public presentation Of
Bucks new cars within the
next couple of weeks. Buick
win be the first 1859 line to
reach the market.
1t is one of the paradoxes
of the automotive market that,
while higher prices might re-
tard sales volume. the overall
sales total has a direct bearing
upon prices. If the industry
knew in advance what its unit
volume would be in q given
model year its initial prices
might be substantially differ
ent.
Swivel Seats
Chrysler win have swivel-type
seats that swing out for the
driver or passenger about to
enter the car. There win be
new gadgets designed TO i'm
prove gasoline mileage through
temperature control and other
wise.
American Motors Corp. am
nounced i. is going to make a
two-door Rambler station
wagon as a 1859 model. Built
on a 100-inch wheelbase, it is
to be brought out in October.
Discontinued by several car
makers is the fuel injection sys-
TEN widely heralded a couple
of years ago as q major engi-
neering advance. It's cost was
too high for wide acceptance.
Another item dropped is
United States Rubber Co.'s coll
ored Sidewalk tires.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03

YOUR
MONEYS WORTH
Stocks and Profits in Recessions
~ SYLVIA PORTER

The general impression among
investors today is that the stock
market turned in an extraordi-
nary performance during the
1878 recession by declining
sharply only during the first
months Of mild retreat and
then going into a determined
and sustained rise.
This general impression is
not an accurate one.
The overwhelming belief even
among top professionals in Wall
street is that climbing stock
prices In the face Of plunging
corporate earnings are Just
about unprecedented in our
country, and thus many pros
have been astounded by the adj
vance Of stocks on some dread
full profits news. This belief Is
not confirmed by the evidence.
The fact is that stock prices
plunged during only three Of the
eight major and minor business
declines since World War I.
. Stock prices actually rose
during three other of those
eight business declines, and in
two of these instances the adj
vances were substantial.
In the final two of the eight
business sethacks-and one Of
these two is the recession
through which we have Just
observation-disclosures decline S
were recorded in the stock price
averages.
In DR.. Godfrey H. Moore's
highly important Measuring
Recessions." just released as an
Occasional Paper by the Bureau
Of Economic Research, is a sta
tistical table showing the per-
centage changes in key eco
nomic indicators IL months
after each Of the eight business
cycle peaks Of the past 20 years.
Among the key economic in
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03
Wellington Sets Up
Common Stock Fund

NEW YORK, Sept. 3 (AP) =
wellington Fund, one Of the
Nations largest balanced mu-
tual funds. has set up a new
fund, which will invest primarily
in common stocks.
The new concern, wellington
Equity Fund. proposes an initial
public offering of 2 million
shares of common stock at $1s
a share. The offering has beer
registered with the Securities
and Exchange Commission,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03
FOREIGN ExcH'GE

NEW YORK, Sept. 3 (AP).-Foreign
exchange rates, Great Britain in dol
lars, others In cents Unbalanced I'M
less otherwise noted);
Canadian dollar In New York open
RsgEsSst Gts SeT states Ss.' cent. Rts% on 1lSs
" Europe: Great Britain pound
ESQ .3Il6. up 1872 Of a cent; 80;
day futures 2.79 1919, ,np, lE32 o.
5.7S 7/ie. up 1882 Of 4 cent; BelEium
S t1sns, 2SSs, " IS1ls ss q # cent cent
up ,00 1Is2; GeSSnany ~. S W as,,II
def) 26.44, on OF of cent; 1taly
(iira) .I6h Of cent; Portugal (escu-
dol $780,: sweden (kronalA 1894
Switzerland (franel Cfreel 23i& u Den
mark (krone l4.50.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03
Sheraton PIuns New
Credit Card Setup

NEW YORK. Sept. 8 (AP).-
Sheraton Corp. of America, OPP
orator of AZ hotels from coast
to coast and in Canada, today
jumped into the comprehensive
credit card field.
Ernest Henderson, president
Of the chain, said a new sub
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03

1.-THE nine months following
November, 1913. profits went
down 20 per cent. but a year
later stock prices were UP Q pei
cent.
I The recession Of 1885,:
Profits went down IS per cent
in the nine months following
July 1858. A year later stock
prices we're up 26 per cent.
The recession Of 1957-5S: In
the nine months following
July. 1857. corporate profits
faded "a per cent. AS Of July,
1888, stock prices were down
only 3 per cent.
The more you study the above
calculations. the more provoca-
tive they will become.
For instance, the only signifi-
cant crashes in stock prices
occurred during the three
violent slumps--1920-2l, 1922
SO, l937-38.
During the milder recessions
of the '20s and Of the period
since World War II, the stock
price averages either slid only
a BIT or advanced.
The recession Of 1957-5S
belongs in the mild-intermedi-
ate class.
A primary reason so many
pros fear that q severe break
in the stock market is overdue
is their impression that stock
prices acted so contrary to
historical precedent during the
most recent recession.
But as this report emphasizes,
historical precedent does not
provide nearly the basis for the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03
Banks Sell More Stock
To Meet Grwoth Needs

While retained profits have
been the main source Of new
bank capital funds since World
War II. stock offerings by ma
tional banks are on the in
crease.
The Economic Policy Com
mission Of the American Bank
ers Association has issued a
new study which shows that
sales Of national bank shares In
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03


member associations on June 80,
1855.
Assets Of the insured mem
Der associations, including 30
institutions in Washington.
totaled $4l.S billion on June 80,
compared with $27. 032. 900. 900
on the same 1855 date.
The washington member as
sociates have around 1910 mil
lion of assets and $50. 900 savers.
Growth of the FSLIC since
its founding in 1884 has been
fabulous as associations and the
general public have come to APP
preciate the value of its insur-
ance covering each account up
to $4,000.
Contrast With 1885
The latest records contrast
with $50 member associations,
with $4,000 savers and 1898
million of assets at the end Of
Its first year on June 80. 1885.
The FSLIC's MEMBER associa-
tons now represent more than
90 per cent of the combined
assets Of all savings and loan
institutions and at present are
financing the homes of more
than 6 million families, the re-
port said.
Assets Of the corporation
amounted to $305,852,430 on
June 80 and more than 96 per
cent was invested in Govern
ment obligations. Included
were: Treasury bonds with a
par value Of $162.5 million:
Treasury notes with a par
amount of $40 million and spe-
cial series notes with a par of
$1l1,850,O00.
Since July, 1851, FSLIC has
been retiring its capital stock
held by the Secretary of the
Treasury in annual payments
equivalent to SO per cent of
net income. Of the 500 mil
lion Of original capital stock,
$75,199,000 had been retired
prior to June 80 this year, and
the balance is scheduled for
retirement in the 1859 fiscal
year
Agency Self-Supporting
The corporation Is entirely
self-supporting and in no. year
have its operating expenses
amounted to more than So per
cent Of total income. Total rev.
enue since 1884 has amounted
to $325, 068,000 and expenses
have required $12.426,o46 or 3.8
per cent. Net insurance losses
have amounted to $5,224.S69 or
1.6 per cent and return on
capital stock has totaled $42.-
975,507 or 1873 per cent. FSLIC
has set aside 1884 .44l,278 or
81.3 per cent Of total revenue
as a reserve for insurance losses.
Gross income for the year
ended June 80 was $38.015.64S,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03

sidiary, Sheraton Central
Credit Club. Inc. would handle
the plan, which entails a IS an
|nual fee for charging privileges
and central billing in Sheraton
hotels plus restaurants and
other hotels.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03
'2 Il BUSINESS
FSLIC Now Insures
20.8 Million Savers
BY DONALD b. HADLEY
star Financial Editor

More than 20S million and investors 1882 savings
and loan associations now receiving insurance protection
from the Federal Savings and Loan Insurance Corp it
disclosed today.
The record June 80 totals listed the Federal agencys
report for the fiscal ended June 80
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03

Of which Sl4 per cent came
from insurance premiums and
admission fees and 1873 per
cent from interest on invest
ments. Operating expenses for
the year amounted to 80 per
cent Of total income.
The agency has settled 30 in
Surance cases since its start and
only two since 1850. One Of the
latter has been closed without
loss and in the other case pro.
vision has been made for leases
Of $4,000. The final outcome
is yet to be determined.
In addition to the FSI.IC loss
reserve Of more than 1894 mil
lion. member institutions a..
required to accumulate special
reserves, which aggregated
around $50 billion or nearly
~ per cent of savings capital
on June 30.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03
OVER COUNTER

Washington listings on the over-the
counter market furnished BY the Ma
tional Association Of Securities Dealers
as Of pm. Wednesday, September 5,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03

break that Is so generally
assumed.
4 Distributed less By Ths nan
syndicate, Inc. All Rights Reserved
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03
Equitable Staff Places
Records in Cornerstone

ksecOruS IN cornerstone
Senior members of the staff
of Equitable Life Insurance Co.
of Washington participated in
cornerstone ceremonies at the
new home ONCE building Of the
company at $500 Wisconsin
avenue NV, this morning.
President Charles e. Phillips
introduced the participants,
who placed various articles in
the cornerstone.
Gilbert c. Clark, executive
vice president and secretary.
placed a list Of trustees since
1885 in the stone. A history
of the company since its found
ing was placed by Lauriston
Hannah, a trustee, while a
copy Of the Equitable News was
placed by Frederic M. Nettle-
ship, another trustee.
Other articles and particle
pants, who placed them in the
stone included: Original West
Virginia charter by Mrs.
Esther keenan,, present District
charter, Mrs. Jessica Kilmartin;
annual statement for 1857, Mrs.
Beulah Mooreland; list of home
office staff. Mrs. Laura E. Phil
lips: list of field personnel. Mrs.
Agnes Wilson; pages of WASH
fington newspapers and b plaque
in memory of Thomas Kelley
Wynkoop. sr.. project manager
for the buildings contractors
until bis death last June, also
were placed in the stone by Mrs.
Alice Corey, Mrs. Bessie Rollins
and Malcolm Cox.
Formal dedication of the 49,
000-square-foot home ONCE will
be held late in October. COM
pany staff and records were
moved into it In July.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03
Substantial Growth shown
BY PurOlatOr Products

Substantial growth Of Puro-
lator Products, Inc, was re-
ported by James d. Abeles
president of the company, in ar
address before the Washington
Society of Investment Analysts
at an Occidental Restaurant
luncheon today.
In the last 10 years company
sales have risen 275 per cent
and net earnings have climbed
219 per cent, Mr.. Abeles said
Earnings per share increased
los per cent in the decade
dividend payments rose $40
per cent and dividends pei
share gained 300 per cent
he added.
Salaries and wages climbed
290 per cent. engineering and
research OUTLAWS expanded SOC
per cent, net working capital
was boosted 160 per cent and
net plant and equipment in
creased 4S0 per cent. Share
holders equity increased zoo
per cent and total assets rose
225 per cent.
Company net sales in six
months ended June 80 declined
to $17,623,117 from $21, ste, 585
a year earlier. Net earnings Of
s855,869 or SLAB q share were
only slightly behind 1858, 241
or $3.50 a share in the same
1857 period.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03

BdI ~ II,UI NV Jim TEN II.5I INV
ean las CT T.s2 ga kaieksI "a s.ost:sa
cent 81 II 1851 1851 Kaiek eE 70 SIS SIS
Chase "a Be s.os $50 Lsxing. u ii.4s 17.s3
Chen % ifs3 1873 LazaFt W 1l.15 ISIS
colsnisI 70 SIS 1n.s1 LsKins Vent s.s1 io.13
eomM Inc $50 s.s1 LIZ las Inv ie.14 t1.ss
eumWIsh IN sol SIS Life 10 ' SIS e.a1
Can 81 "a t3.i4 t4.2e $lms SIN Aa,j0 a3.3e
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-09-03
MUTUAL FUNDS

NEW YORK. Sept. uP).-Nstisnsl AssSsIs-
tiaa Securities Dealers, Inc.
, 1958-03-06
NOTICE OF INVITATION TO BID

Sealed proposals for the purchase of property No. 13B and
IA Queen Street, Christiansted, Virgin Islands (s one unit
will be received by the undersigned commencing Immediately
and continuing until March 81, 1858, at noon of that day. The
premises offered for sale may be inspected by appointment
with the undersigned. The proposals will be publicly opened
and read aloud on the date mentioned above at three o'clock
in the afternoon of that day at the Office OF the undersigned
No. 22-23 Market Street, Christiansted alexander Theater
Buiding(. Envelopes containing proposals may be mailed to
the undersigned, addressed as indicated below, or delivered
at his office. All envelopes should be marked Proposal, Queen
Street" in the lower left hand corner to insure their remaining
unopened until the time above stated. All proposals must be
accompanied by a certified or cashiers check in an amount
equal to five (5S) per cent. of the amount offered The check
should be made payable to the undersigned. The right to re-
ject any and all bids is hereby reserved.
Almoric L. Christian
~e> enTs@aNe@$, p. Box 425
nj Christiansted, Virgin Islands
Telephone l53
, 1958-03-06
CALL o BIDS

Sealed bids, in quadruple,
will be received at the Depart
ment of Property & Procure
ment, Division Of Procure
ment, Christiansted, st. Croix,
Virgin Islands, until HOO,
A. M. March 10, 1858, and then
publicly opened for the fol-
lowing:
2 Coolers, water, electric
for bottled water
2 Refrigerators, electric
The Government reserves
the right to reject any Or all
bids, to waive any informal
ity in bids and, unless other
wise specified by the Govern
ment or by the bidder, to ac-
cept any item in the bid.
Copies of Invitation to bid
may be obtained from the
Division of Procurement,
Christiansted, St. Croix, Vir-
gin Islands.
Alphonso RomneY
Clerk-in-C Charge
Div. of Procurement
st. Croix, v. I.
1855
, 1958-03-06
Cord Of Thunks

We wish to express our
heartfelt thanks to all those
who expressed sympathy, sent
tokens. or showed kindness
during the illness and on the
death of our beloved mother,
Mrs. Ruth Stevens.
Imogene & Melville Stevens
, 1958-03-06
FOR RENT
Front experiment. over
Merrill's Drug Store
West Indies Shutters
FOR SALE

Two 10 #. sections with
tracking and hardware in
original cartons. At a good
discount. Can be seen at
Waite const. Co. Office
Queen St. Christiansted,
or NH. Hilder, Salt River.
, 1958-03-06

FOR SALE
Concrete & Steel Bldg.
on 1I2 acre land
Going Business
Box $50 : Phone 305
Christiansted, st. Croix
FOR SALE
1854 NASH RAMBLER
SEDAN
Air Conditioned
Good tires : Good condition.
Owner leaving for States
Phone quick 244J
CAPITAL WANTED
To develop site with exist
ing concrete and steel
building Of approx. 5000
50. #. of floor spale. Tile
floor.
o RENT or "A
Approx. 1000 So. feet space.
Concrete Bldg. Tile floor,
running water, toilet.
Box $50 Phone 305 .
Christiansted, st. Croix
, 1958-03-06

2e-2s-s-s -lO-l2 49, 2O-24-26
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-14

Strawberry Cheese Tarts
Blend Four 3ounce packages cheese with u cup
graduated Beat egg yoks until thick and lemon
coored Add teaspoon pure vanilla extract and y tea
spoon pure almond extract Beat egg yolks until they
stand In soft peaks and fold into the mixture Pour into
six 3 Inch unbaked tart shells Bake in preheated slow
oven (325 degrees F) hour. Cool.
To make the glaze, wash and cap quart fresh straw
berries Slice and mix with tablespoons sugar Let stand
hour. Drain and measure liquid Add cold water to make
" Blend In u teaspoons cornstarch Cook until clear
and slightly hckened Place sliced berries tars and
cover with the glaze Chill.
MONDAY
Potatoes and Eggs Country style
If you don't know what to do with yesterdays boiled
potatoes try this for lunch:
Melt teaspoons butter margarine 5h-inch heavy
skillet bottom MEASUREMENT. Combine cup diced cold
cooked potatoes teaspoon minced onion teaspoon salt
ana Hl6 teaspoon ground black pepper Add to the hot
butter margarine Cook medium heat until thoroughly
hot, stirring frequently. Break eggs the top.
Cover tightly Cook to minutes until eggs set.
Sprinkle with tablespoon grated sharp American cheese
with sprig Of fresh parsley This makes one serving
TUESDAY
Spicy Crust Pie
Light fothy pie, COOL and satisfying Is this spicy crust
pie made with packaged pie crust mix and spices added
TO the dough. 1t turns out golden tan and havorfu
Using package Of package pie crust mix follow direc-
tons for making crust Add " teaspoon cinnamon and "
teaspoon ground cloves before adding liquid called for Roll
dough out l4-inch square Of quilted broilng foil Lift
foil with pastry attached into pie and shape to IT. Clip
OF corners turn UP foil collar to protect pastry during bak-
spoons apoca according TO package directions Cool slightly
and fold in cup sliced strawberries Pour into baked
she'll Place in refrigerator for hour before serving Makes
six to eight servings.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-14
nv DISH or
go

FRIDAY
Sauteed Beams
Onion and lemon Juice improve the flavor Of snap beans
Remove tips from pound fresh beans and wash Split
lengthwse and cut In half crosswse Place saucepan
along with hnch boiling water and teaspoon salt Boil
uncovered. minutes Cover and continue cooking until
beans are tendercrsp about 10 minutes In the meantime
saute l medium onion chopped in tablespoons melted
butter or margarine Drain beans and add 10 ueed onions
Cook until butter begins to brown Add teaspoon ground
black pepper and teaspoons fresh lemon Juice Oarnsh
with onion rings II desired. Yield: Six servings.
SATURDAY
Veal Outlets Tarragon
You'll get extra flavor out Of veal with touch Of
ragon and only bit Of wine Here's dish for two which
you'll prepare often.
Have hpound veal outlets pounded thin Season outlets
with teaspoon salt and teaspoon pepper Dredge with
cup flour. In skillet heat tablespoons butter. Add
outlets and cook until well Drowned both Sides Remove
outlets to heated dish and keep warm Add tablespoon
minced onions Cook stirring constantly for minutes Add
tablespoons white Bordeaux wine and cook scraping bot
tom Of skillet until brown crust in Is dissolved Cook
over brisk flame for minutes. Add u teaspoon dried
leaves and tablespoons chicken broth Return outlets
TO skillet Cover. Simmer low flame for minutes
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-14

Casserole allows hostess time for company
WEDNESDAY
Creamed Chicken and Mushrooms
cups sliced fresh teaspoon celery salt
mushrooms / cup chicken stock
" cup chicken fat / cup milk.
butter "a cup light cream
u cup -four cups decd cooked
l teaspoon salt chicken
u teaspoon pepper tablespoons pimiento
"a teaspoon nutmeg cut in strips
Cook about minutes in heated chicken fat
Stir in flour salt pepper nutmeg and celery SALT blend WELL
Add chicken stock milk and gradually stirring con-
santy Cook until thickened stirring occasionally Stir IN
chicken and piento Pour into butteed shallow casserole
baking PAN Top hot chicken mixture with bran biscuits
Bake very hot 450 F. about is minutes until bis
cults are Drowned Serve at once Yield Six servings
Bran Biscuits
"a cup whole bran teaspoon baking powder
cereal u teaspoon baking soda
"a cup buttermlk teaspoon salt
milk y cup shortening
Ia cups sifted -four
Combine bran cereal and buttermlk let stand until most
of moisture taken up. Sift together -four baking powder
soda and salt Cut in shortening until mixture resembles
cornmeal. Add bran mixture, stirring only until
gently few times. Pat out to about y inch in thickness
with Toured biscuit cutter Place top Of hot chicken
mixture. Yield: 1912 biscuits inches in diameter.
THURSDAY
BroiIed Tomatoes
For out-of-the-ordnary vegetable dish with any
meat broled tomatoes topped with this unusual
suffing
Wash medium -szed tomatoes and cut OF the stem
end Cut tomatoes in half Roll Is spoon size shredded
French dressing and teaspoons grated Parmesan cheese
Sprinkle Of tomato halves Place in shallow pan
broer and bro inches from source Of heat for
about minutes