davidaulloa/AmericanStories huggingface dataset:
, 1958-08-20
MISS GRANT

MISS A 80.
fer Masters degree
She i new a teacher in che
Of the high. schools located in
the Bronx, a member Of the
Church Council and choir Of
Of the Evangelical Lutheran
Church of the TRANSPORTATION,
Il tireless worker in the thank
less job of trying to organize
a Youth Movement and a
member CT the Governing
Board Of the American Virgin
Islands Civic Association.
Last summer she toured
Europe and brought back a
large number Ct picture slides
Of the countries she had visit
ed, including Denmark, Nor
way and Sweden.
She is on the editorial staff
Of the Civic, and this paper
yields to no one the admiration
and respect we hold for this
native girl who has made her-
self a very worthy example
for the youth Of our islands,
most especially, to follow.
Accompanying her on the
visit to the islands is her kind
and devoted aunt, Miss Gym
thia Ewing, Mrs, Anna Canton
{nee MichaeD and Mrs. Rose
Thomas (nee VanterpooD.
Mrs. Canton is the sister of
the late Bill Michael a Master
Mechanic in his day, who once
built an altar at Holy Cross
Catholic Church at Christian
sted and also at St. Patrick's
Cathedral in New York.
She is the Financial Secre-
tary Of the Benevolent Society
and the Ladies Aid Of the
, 1958-08-20

American Virgin Islands and
both herself and Mrs. Thorn as
are members of the American
Virgin Islands Civic Associa-
ton.
They are the guests of Miss
Marie Mckay a retired R. N.
at Christiansted.
, 1958-08-20
JUDGE MoCRHEAT

absent from August 10, 1853 .
October 3, 1858, / do hereA7,
pursuant to 4 v. /. C. Section
246, assigned Honorable VII
liam F. Moorhead, Judge Of
the Municipal Court Of St.
Croix to serve as Judge of the
Municipal Court Of St. Thomas
and St. John during the period
beginning August 10, 1858 and
ending October 3, 1858 and so
long thereafter as may be
necessary to complete unfn-
iched matters and during said
period 0 act as Coroner with
in the Judicial Division of St.
Thomas and St. John"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-09

5-Life With Elizabeth.
Storing Betty White.
7-AmeFieon Bondstand.
Dick clork. m. {.
9-The Big PoyoH. Quiz.
$3.50
5-Grondpo's Place. Kids.
lido You Trust Your Wifef
Johnny Carson. host.
9-The Verdict Is Yours.
Jim McKoy stors.
400
4-Queen for o Doy. Giveowoy.
IS Min. Jack Boiley, host.
5-Piek Temple. Kids.
Hour. Songs and Western
movie.
7-AmeFieon Bcndstond.
Live cut-ins from WkAAL studios.
Felix Gnont, m. {.
9-The Brighter Doy. Serial.
AIS
9-The Secret Storm. Seriol.
$3.50
9-Edse Of Night. SerioI.
4:45
4-ModeFn Romonees. Serial.
500
4-Comedy Time. Series,
5-MiIt GFont Show.
IA Hours. Teen-ooers' dance
party. Springfield Teen-oeers.
Springfield, Va.
7-Woody Woodpeeker. Kids.
Cortoon series. Walter Lontz,
cortoonist, narrator.
9-The EARLY Show. Movie.
Ia Hours. "Drooon's Gold"
1853. John Archer, Hillary
Brooke.
$3.50
4-FootIisht Theoter.
Hour. Western films.
Unlikely Mouse Club. Kids.
NewsreeI Special: "Get Thot
Story" Port 4, the story OF the
Anikf sanneAaAMK
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-09
Program Listines

1855
Living Faith.
HOO
4-The Price Is Right. Quiz.
7-RompeF Room. Kids.
! Hour. Featuring Miss Sally.
1880
4-Truth or Consequences.
5-CounseI Of Churches.
Eye for on Eye"
9-Dotto. Quiz.
HAS
5-Air Force News Review.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-09
AFTERNOON

1900
Ate Toe Dough. Quiz.
5-cIubhouse "5." Kids.
7-Pete and His PoIs. Kids.
9-Hotel Cosmopolitan. Serial.
I2:I5
9-love Of Life. Seriol.
1890
Alt Could Be You. Variety.
5-FFenkie Loine Show. Music.
9-SeGFeh for Tomorrow. Serl.
Iz:45
9-Guiding Light. Serial.
100
4-FeotuFe Playhouse. Movie.
Ia Hours. "Privote lnformo-
tion." Jill Esmond, Jock Waiting.
lBritish.l
5.TV Reoder's Digest. Dromo.
7-TFoubIe With FotheE.
9-TheoteF Of StoFs. Dromo.
life, Liberty and Grin DooIey."
VIII Rogers, ir.
1850
5-lote Lunch Movie.
IA Hours. Pop Always Poys."
1910. Dennis O'Keefe, Leon
Enrol.
7-Beuloh. Comedy.
Storing Ethel Voters.
9-As the World Turns. Scroll.
600
Tour Miss Brooks. Comedy.
9-Beot the Clock. Contest.
$3.50
4-Kitty Foyle. Dromo.
7-Studie Seven. Dromo.
-9-House Perry. Variety.
AT linkletter, host.
$500
4-Motinee TheoteF. Color.
Hour. "Ccreer Angel" The
story Of q CothoIic orphonoee
and school for boys.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-09
EVENING

500
7-Junsle Jim. Kids.
6:l5
5-News. Weather. Sports.
Warren. Harris. Morgan.
$50
4-News. WeotheF. Sports.
Horkness. Strineer. Gibbons.
5-Popeye. Kids.
7-SoIdiers Of Fortune.
John Russell, Chick Chandler.
9-SPotlisht. Weather. News.
GoIloher. Douglas. Cushing.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-09
THURSDAY

6:35
4-Todoy on the Farm. News.
ESQ
4-Look 10 This Day. Prayer.
6:55
9-Meditotion. lnspirotionol.
TOO
4-Tod0y. Variety.
Heur, IS Min. Dave Gotrowoy,
Hest. News breaks at 7:25,
10S end s:z5.
o-The Morning Show.
I nouF. FevoFite comedies. News
brsoiss Ct 1:zS and 7:55 with
So0et Sutten.
500
9-ceptoln Konsoroo. Kids.
SIS
Stronger Nal. Kids.
AInes. cecklnn.
eco
%usle. Comedy.
S.kaVtooR KIub. Kids.
$50
AaulE Club. Pon0l.
$50
9Mavk Time. Tom.
p6s1.0AaO Marx Ev0as.
1000
@-Doueh-Ae-M. Qus1.
Dno NnAuFn, m. c.
B-fen O'Clock Movie.
- MoaW. "Neu Cent Beat
LWe." 1887. Joan Foneulns.
she Gerry Moore Show.
1890
4-YreasuFo hunt. Quiz.
Ion Murroy, host.
e-Arthur Godfrey. Variety.
1880
7-News.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
GIN Seeks to Halt
Order for Records
In Price Probe

DETROIT, Aug. is (AP).-
General Motors Corp. has asked
a Federal court judge to quash
a subpoena ordering the auto
firm to produce records pertains
ing to a grand jury investiga-
ton Of alleged price packing.
GIN Attorney George l.. DeTr
said the Justice Department
has asked for information next
to impossible to produce" be-
cause it fills more than $50
rooms in the company's records
section.
Mr.. Derr said the Govern.
ment is seeking records on more
than 100 car dealers in Michi-
gan.
In asking Judge Clifford
O'Sullivan to throw out the
August 8 subpoena, the auto
firm said the order violated
the company's right to free
dom from illegal search and
seizure and is too broad in
scope, too vague and does not
designate exactly what IL to
be produced"
The grand jury has been
hearing evidence in the price,
packing case for about q
month. and spokesman for the
antitrust division believe the
probe will continue for an.
other four or five months.
A similar probe Is in pro-
gress in New York, Washing.
ton, Cleveland and California,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
CHICAGO GRAIN

CHICAGO. AUG. is (AP).-orain
futures shifted only slightly from pre-
vious closes again tod4y In early deal
mss on the Board OF Trade,
Activity was slow and dealers said
the market appeared TO be merely
marking time and awaiting some new
incentives Most prices we're narrowly
IN the plus side IN early transactions.
Trade was almost 81 a standstill
near the end Of the nrst hour and
vas unehansed to i cent I bushel.
September .S4h: corn = higher 10
z lower. September 81 .277ss: oats I'M
changed 10 u lower. September b29s:
rye Y TO u lower. September Sl.23,
soybssns = to z hisner; SEPTEMBER sp IsDsT
. hundred lbs. higher. September
Experts through the Government
subsidy program continued at a good
rate fol. corn, The Agrieuiture De;
cents . bushel on 100000 bushels 70
be shipped during August and septem-
Der and bids Of IL cents on 3S5,OO0
bushels TO be shipped in October and
BIDS Of II cents q hushel also we're
accepted on LII, 97s bushels Of bar
ley for August-6eptember shipment.
and bids Of 20 cents on 80. 900 bushels
Of rye for october-November ship
ment.
The recent Government report on
the amount OF wheat placed under
Government loan as Of July IS sent
trade Etatistieians into their records
for a better view Of the market OUT
look
said. that the total this year could
eoual or exceed the record high 557
million imp0unded in 1853 when the
loan rate was S22i bushel COM
pared with 81 Sc this year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
Earnings

Household Finance in 6
months ended June 80 earned
$1i,589,586 or Sl.40 a share VS..
$11.922.S33 or $1.44 in 1857
period.
Anaconda Co. in 6 months
ended June 80 earned $l0.-
752, 1903 or 81 a share VS.. ST.
752,303 or $3.50 in 1857 period.
Hershey Chocolate in G
months ended June 80 earned
$5,552,970 or S2.27 a share VS..
$7.193,987 or $3.50 in 1857
period.
Bendix Aviation in 3 months
ended June 80 earned $4,670,-
TAO or 80 cents a share VS.. ST.
099.215 or Sl.40 in 1857 period.
Sperry Rand Corp. in 3
months ended June 80 earned
S3,920,27l or Is cents a share
VS.. $l0,022.975 or IS cents in
1857 period.
Best g. Co. in 6 months ended
July 81 earned $3.50, 0S6 or "a
cents a share VS.. $598.479 or 81
in 1857 period.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
Short-Term
Rates Rise

NEW YORK, Aug. is CAP).-
Short-term interest rates went
up again yesterday on a broad
front. The increases reflect a
gradual tightening Of short
term funds In the money market.
Dealers in commercial paper
and bankers acceptances raised
rates another u percentage
point. Major sales finance COM
panies. which held OF on raises
earlier this week. increased
their rates % Of a percentage
point yesterday.
The current round follows
increases Of short-term money
rates earlier this week and late
last week. The increase stems
from the current jump in yield
on the Treasury's Sl-day bills.
Short-term notes compete for
investment funds with the bills.
This weeks sale Of Treasury
bills was at a price equivalent
to an average yield Of 1924 per
cent-up from 1.l65 per cent q
week earlier.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
BUSINESS
BRIEFS
Loans % brokers and dealers

Loans 10 brokers and dealers
on other than Government Sc
curities held by New York mem
Der banks on August Is totaled
1858 million. unchanged from
the previous week and UP SOS
million from the like week a
year ago. Federal Reserve
Board.
Gamble-SkOgmO, Inc, July
sales totaled sl0.419,i75, up
4.3qs from 1857: for z months
S63,545.59i. up 6.7q6 from 1857.
Melville Shoe Corp. sales in
four weeks ended July rs to-
tailed $S.040,738. up 6.3qo from
1857; for 80 weeks ended July
26 $66.2s7. 700, up $50 from
1857.
Bond Stores, Inc, July sales
totaled $5,056,644, up 2.7%
from 1857; for IL months $83.-
768. 062. down $50 from 1857,
White Stores, Inc, July sales
totaled $S,902. 40S. up 1872
from 1857; for Z months $24,-
7S9.565, UP 1880 from 1857
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
StocksLOWer,
Range Small;
Trading Firm

NEW YORK. Aug. IS fAP) .
The stock market was lower
today IN q mild reaction 10 a
move toward tighter credit by
the Federal Reserve Board.
Key stocks were down frac-
tons 10 more than a point In
the early afternoon. Chem
icals we're the weakest spot
with several issues OF a point
or 30.
Trading was moderately ae-
tive.
Small losses dotted all key
groups. Even the special situa-
tons made only limited head
way.
Secretary OF the Treasury
Anderson said he would not
rule out q tax increase as a pos
sible method OF cutting huge
budget deficits and checking In
flation.
Schering. Union oil Of Cali
fornia and Lorillard were up
fractions. Schering has been
prominent IN the competition
for new drugs. Union OIL has
been mentioned In published
reports as talking over a pos
sible deal with Gulf OIL. Gulf
was off a shade.
Long-range govern m e n
bonds dropped sharply. Cor
porate bonds also declined.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
D. c. PRODUCE

Quotations supplied BY the United
states Agrieulture Department and
cover sales to $3.50 an. on less-then-
Fruits
Apples-Pa. bu bkts summer Rambo
u. 8. No. l ga In. up 2.26-2 so. W.
Va. bu hkts Northwestern oreeninss o
9: No. 1 IA in. up 2.o0-2.50. Va. bu
ekts Pippins "a In. up fair appearance
Bansnas-4O-IS etns cut 4.75-s;ss.
Cantaloupes- Calf. West SIDE
Lemons-calif' etns l50-ls0s 400
4.25. fair quality 325-3.bO.
Oranges-calif. Vaiencias ctns S.
1855 5,00-5.5O, fair quality 4.25-4 so.
Peaches-S. c. q bu bkts Elbertas
q 8. NO. l z in. up fair condition
80; Va By d ssts !. Ei6 eata u oa,, No,
l.75. Md. Hale Ravens U. 8. No, 1
2 in. up Ito; Pa. "a. bu .bkts Hale
Ravens U. g. No / ga in. up 2.25-
$50 poorer condition 50-2 90.
Watermelons--N. c. and Va. Charles
ton orays and few congos various sizes
per melon 30-40e few 10000.
Vegetables
Snap Beans-Bu hprs and bu bkts
N. j. Valentines 1882 90, fair quality
1 80; N. Y. Valentines bu erts 100
cabbaEe-Domestic Round type; lss
bu boxes N. j., Nd. and Della. S5-1 90
few !: rs poorer quality zoe. open bu
bkts Pa. packed locally 1.10-l.2b.
doS, S.o0-5 so. fair condition $50:
\. =; 90 doz. $50, N. J. 2lS-3 dog.
corn-crts a sacks Yellow mostly s
doz, Nd. & W. Va. 1.00-l so poorer
quality SOC; N. Y. erts Yellow doc.
cueGmbers-Bu bkts N. J. 1858 90
few, $50, fair quality l.50. Ice size
1 c0-1 rs: Della. q 00-2 .25,
Lettuce: iceberg typet-Calif. tsa-
llnas- jacksonville Dist ctns 34s 225-
$50 few 2.75. fair quality 200 poorer
iceberg crts iss 1871 90. 24s / .e5-i so;
Romaine: n, J. lie bu crts 25-1 so.
few 100; Biz Boston: N. J. eastern erts
onion;-(Dry) 60-ib sacks unless
otherwise stated: Calf. YellOws lse
. .25i2 SO; Tex: Cramps lse 2;oo;2; so
m mai't size s 50 ~ few 80; n Ssiiow
Globes med size 1901 rs; Red Ice 25-
ID sacks ] 1890 25-lb sacks White
Boilers 1.bO.l.75; (0reen) N. J. * hu
srts 36s 1.7b-2.O0; Ohio Loot bkts
Potstoes-SO-ib sacks unwshd U. 9.
~ size A unless otherwise stated: Della
cobblers 7b-S5c few 100 poorer ap-
pearance 65e; N. Y. L. 1. cobblers 75-
soc: Nd, Cobblers 75-9Oc; N. J. Katah-
dins 1.00-l.1O. l0-lb sacks few 2be;
CALI. l0O-lb sacks Long Whites Lwshd
Russets q Early Hens 5O-Ib sacsks
wshd 2.25-2.66; Wash. Long White.
wshd 6O-lb sacks rs few 200; Tex
Round Reds unwshd 50-lb sacks ZOO
25.
Peppers-Bu bkts Calf. Wonder type
irregular condition some Showing decay
BOIL 80.
Tomatoes-Bu bkts no grade marks
mostly turning a some ripe med-lge Va.
10. Va, area 1904 90 poorer quality
q condition low as 500; Nd. "a bu hpr
including some fair aualityi 1.b0-1.75
few 100. 81
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
~ the Associated Press

The Federal Reserve Board.
showing deepening concern over
the threat OF imitation. has re-
versed It's recession policy and
moved toward tightening the
money supply.
The change IN dlrection-the
first since last November--eame
with the announcement that
effective today the discount
rate at the San Francisco Re-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
BALTIMORE
MARKETS
Quotations supplied By the United
States Agriculture Department:

Quotations supplied By the United
States AErieulture Department:
Grain Market
Elour---Receipts. none.
Wheat-Recelpts, 245 ,s42 bushels;
shipments. 3sl ,0ee bushels; stocks. A.
corn&Rseeipts, 1 ,723 bushels: ship
ments, i1,l60 bushels; stocks 1898
uoeats-Rscs,nts nops. .hipments,
none: stocks. gss. 7s a0R 6ush.is n'p'n
none: stocks, SIi. Sos bushels.
Rye--Receipts. none; shipments
none: stocks, $50, 236 bushels.
msnts,' none; stocks a.7Os Bushels.
Aillfeed-Receipts none.
EsE Market
UesterdAy's ouetations)
EGGS Receipts moderate. Offerings
on top quality large generally ade-
auate, others fully ample for the light
70 fair demand. Prices UNCHANGED 70
cents lower medium whites.
Prices paid nrst receivers, delivered
f.on. Baltimore, cases Included: Large.
min; 90 pc A quality. whites. 4l-4g.
mostly 4l-47; brown and mixed, so
sht. '?H slss; % amsll. % aSss ' Stand
Prices TO retailers: Graded according
70 Maryland egg-grading. law. Grade A,
and mixed. 50-5s, mostly -53-55. Grade
A medium, whites, 45-4e. mostly 46-
~. brown and mixed, 44-4e. mostly
45-47; Grade p large, whites, 43-46.
n,os.Iy 1 tt brown and mixed 4s-4e'
lEEgs in cartons mostly 3 cents
higher)
Receipts: EggL 400 eases By truck
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
N. Y. COTTON

NEW YORK, Aug. Is. ZAP After
q quiet and slightly lower opening
prices steadied in late morning deal
ings The market rebounded above the
previous close for most contracts. The
trade adopted a sideline position pend
ing Stnate action on the farm bill
The Improvement was generally at
tributed to increased trade demand for
nearby contracts
higher 10 10 cents lower than me
previous close. October 35 ~. Deem
Der 36.0s and March 1884
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
Bankers Acceptance
Increased 4th Time

NEW YORK, Aug. is (AP).-
Major dealers today made a
"a of one per cent increase
across the board in bankers &C
ceptances.
1t was the fourth rate in
crease in about week for the
banker bills. There was a "a
point rise August Z, a "a point
hike Tuesday and a 1s point
increase yesterday.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
WINSTON-SALEM. n

WINSTON-SALEM. N. c.,
Aug. is AP).-Directors Of the
r. ]. Reynolds Tobacco Co.
voted yesterday to call for re-
demption on october /, its issue
of 100000 shares of preferred
stock, $50 per cent series, at
the redemption price of $l0l
per share. This price includes
the premium Of 81 per share.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15

CLEVELAND. Aug. Is (AP)
Directors. Of Interlake Steam
ship Co. yesterday declared a
dividend Of so cents a share,
bringing to 81 the total dividend
payment for the first three
quarters. The dividend is pay
able october l to stockholders
Of record September IL.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
N. Y. PRODUCE

NEW YORK, Aug. IS CAP) GUsDAl.
Butter steady receipts 100000.
Prices UNCHANGED.
Prices unchanged.
wholesale Gag prices weak. Re-
eeipts 1880. New York spot quota
lions follow. MidwesteTn Mixed colors:
Extras (4S-5O lbsl 1914 extras
medium 32hs,33; standards largs 81
(4S-5O lbs) 39l2-43h: extras medium
32l1-33. Browns: Extras t4S-50 lbsJ
45-47.
Nearby: whites: Top quality (4s-bO
lbs) 1880: mediums 32-33iz. smalls
26-27. Browns: TOP quality $3.50
3l-32.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15

HalekToW1M 2yM 2oA 1874 a
YnGsShT sac 10 Io2sA lolJs loas1+l
ingstsDT 10 q l9lb ieN lsJk+ "A
Ienith tah 40 eS - oS "A
hoUFiy Sales o. me gxehanua
il;O0 am $50 600 Noon 4 leo 600
loo ON $50 200 a:oo On o 600 ooo
souit o. trldins 10 sharuS o. sales n
tull Rates Of divldends 10 the torego1ng
table are annual disbursements based on
the last quarterly or semi-annual declarn.
ton Unless Otherwise qoted, special 81
extra dividends are not Included : Also
extra OF extras Annual rate Olus afock
dividend d Declared OF paid IN 1857 Olns
stock dividend Declared o. paid g TAI
this wear, PAYABLE ID stock during 1857
s s1bS ncasss5 csIs Paid las Eear,
o. .plltnp : DECLARED o PAD this year
a arrs*I5 RP sie this yesE: dividend
lasi dividend ulsetinp. Z DECLARED o. PAD
In 1855 plu1 stock dividend tPayahle n
STOCK darins 1858, estimated eash value.
, hquidatinE divldend cd Called xEx
S S3sss ~ T S..s y aast.16g,ioS & On N
issued I'd Next day delivery q n .bahk.
ruptey Or receiyership or being reoF.
canned uudGI the Bankruptcy Act, a.
seeuFines assumed % such companies.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
ODD-LOT TRADING

=, NEW YORK. Aus. rs (APl,-The
New York Stock Bxchange reporteS
TO-DAY these odd lot transactions By
phEineipai dealers for kueust 14; uur:
2Se's3o shares, including 1904 shares
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15

MORTGAGE EXPERT -
Wesley A. Stewart, former
mortgage loan solicitor
and real estate appraiser
for H. L. Rust Co., has be-
come associated with
Suburban Trust Co. in its
mortgage loan department
at HyattSville, He is a
member OF the WASH
ington Real Estate Board
and the Montgomery
County Real Estate Board.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
Bank Rote Is Raised
AS Brake on Credit

serve Bank would 20 up from
Ia per cent 10 2 per cent.
The discount rate represents
the interest charged Federal
Reserve member banks borrow
Inc money from the reserve
system. A boost IN discount
rates normally goes hand In
hand with q general increase IN
interest charges.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15

The discount rate represents
the interest charged Federal
Reserve member banks borrow
inc money from the reserve
system. A boost IN discount
rates normally goes hand In
hand with a general increase IN
interest charges.
Broad Implications \
Thus the reserve board ac-
ton yesterday held broad linz
plications for anyone planning
10 go into debt 10 buy q fac
tory. an automobile or q living
room rug.
The general feeling In finan-
cial circles was that only q
worsening Of the economic pic
ture could make II cheaper TO
borrow money.
With the discount rate boost
taking effect in San Francisco,
similar increases by the other
IL Reserve banks are expected
to follow, although there may
be some time lag before the
parade is completed.
A board spokesman said the
decision to switch policy direc-
ton was influenced In part by
an increase in imitation senti-
ment which has been reflected
in a rising stock market. He
said another factor was the
apparent bottoming out of the
recession. The spokesman also
noted recent upward moves in
some interest rates.
Directors OF the San Fran
cisco bank initiated the dis
count rate action there. the
board spokesman said.
In San Francisco. Reserve
Bank President Herman N.
Mangels said the prime factor
in the directors decision was
"a fear Of a continuance or even
an accentuation Of infiationary
pressures.
Reached Peak q Year Ago
A year ago-before the re-
cession got a foothold-dis-
count rates reached a peak Of
81 per cent. But last Novem-
Der the Reserve Board ADAM
doned its tight money polic/
and began easing the money
supply to combat the growing
recession. In four successive
steps, the discount rate was
lowered until it reached ia
per cent last April.
Although the Reserve Boards
new action was in the direction
Of tighter money. it can't be
said the board is putting any
real squeeze on credit. The sys-
TENS member banks have idle
reserves Of nearly half a billion
dollars, which means they have
available plenty Of money for
lending.
The effects of the action are
thus expected to be largely
psychological, affecting the sem
timent of both borrowers and
lenders. Any change in senti-
ment can have real effect. how
ever. in the prices of stocks and
bonds.
News of the board decision
had an immediate impact on
the Pacific Coast Stock Ex-
change. 1t brought a furry Of
selling and increased volume.
Representative stocks sold
about 20 under the New York
close in the last hour Of trading
yesterday on the San Francisco
and Los Angeles floors Of the
Pacific Exchange.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15

xEx dividend. 5 Books closed. TITUS
extra or extras Declared or paid 90
far his rear. pPaid last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-15
DIVIDENDS

NEW YORK. Aug. IS ZAP .-Divi-
bends announced:
Milford chronicle., 1958-06-13
Returns From
Graduation Trip

Mrs. George M. Lynch recently
returned from Richmond, Virginia,
where she attended graduation ex-
ercises of the Medical College of
Virginia on June 8, 1858. At these
exercises Gordon A Hearne, Mrs.
Lynch's son-in-law, received the
Doctor Of Dental Surgery degree.
DR.. Hearne is a graduate of
Cradock High School and Ran
dolph-Macon College. While at the
Medical College he was president
of his Junior class, president of the
Dental School Student Body, pres
ident of the Medical College Stu
dent Council, and vice president of
Sigma Zeta Society. He received
the Delaware Valley Alumni Award
for his contributions to the Student
Body activities in 1858, and the
A. d. Williams award for scholas-
tic achievement in 1856. He is a
member of Sigma Zeta honorary
society, Alpha Sigma Chi honorary
leadership society, has been elect
ed to membership in Omicron Kap-
pa Epsilon, the national dental
honorary society, and is member
OF. Delta Sigma Delta dental fra
ternity.
DR.. and Mrs. Hearne, who is the
former Florence Lynch of Milford,
will make their home on Staten
Island, New York, where DR..
HearDe will serve an internship at
the q. S. Public Health Service
Hospital.