davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04

GIFT TAX-The sole stock
holder Of a corporation trans
ferred the stock to a trust for
the benefit Of his nephew. A
condition was that the trustee
pay the gift taxes promptly.
borrowing the necessary sum
from a bank on the security Of
the stock and repaying the
bank from the income OF the
trust.
Held-The liability for the
tax is "a liability Of the donor.
The income from the trust used
to repay the loan incurred to
pay the tax is taxable to the
donor.-Rev. Rul. 57-564.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04
PEOPLE
IN
BUSINESS

First National Bank of Ar
lington has appointed Kal,
Enrich and Merrick to handle
its Advertising, with r. ed
ward Holtz, agency vice presi-
dent, as account executive.
Robert GOldstein, agent for
Crown Life Insurance of Can
ada here. has qualified for the
Million Dollar Round Table by
selling more than 81 million of
insurance in the last year.
M. o. Shuster, jr., has been
named. district sales manager
for Capital AirlineS here.
Paul N. Croker has been
named sales manager of the
Joseph Phillips Co., Alexandria
leadership for English Fords.
Renaire Corp. has named
Larrabee Associates to handle
advertising in this area,
Julius Klein Public Relations
announces affiliation of Art
Domingo and Associates with
headquarters in Mania, P. /.
Manager Hotels, Inc, has
named j. Wilfrid Gagen As
sociates to conduct a special
promotion campaign in con-
nection with the company's
5Cth anniversary.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04
Bill Payments
BY Retailers
SHOWS Decline

NEW YORK, Mar. 5 (R.-
Retailers payments Of bills on
January / slowed down from
the pace three months ago and
a year earlier, Credit Research
Foundation, Inc. said yester-
day.
The foundation, an affiliate
Of the National Association of
Credit Men. also reported in
its quarterly survey of "a prin-
cipal marketing areas that
wholesalers and manufacturers
also Jagged somewhat in their
payments compared to october
l and January /, 1857.
AS of January /. the founda-
ton found. payments by re-
tailers were 1913 per cent of
current debt. compared with
83.2 per cent on october ! and
1922 per cent on January l.
1857. Wholesalers payments
were 85.7 per cent as against
87.7 per cent three months
earlier and 88 per cent a year
ago, while manufacturers pay
ments stood at 86.9 compared
with $50 October and S8.6
per cent on January /. 1857.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04
Invest in America Week
Planned at Conference

benefit consumers, workers and
the national interest as well as
investors. Investing in Ameri-
ca has helped make our coun-
try great"
Yesterdays session was an ed
ucational program to acquaint
businessmen with the purposes
Of Invest in America Week.
Mr.. Johnson asked the bus
ineSSmen to contribute funds
for the program here and to
make available display space
for posters and other publicity.
He urge them to use the liter
allure to carry the message Of
thrift to their customers.
w. Jeffries Chewing. jr.,
director of public relations
National Bank Of Washington,
who also is chairman of the
American Ideals Committee of
the Washington Board of Trade,
told of last years efforts for
Invest in America Week. He
recalled that Vice President
Nixon participated and the
movement was the subject of
addresses on the Senate floor.
He said the District Commits
sioners' had issued a proc
lamation.
Don Larson, representing the
District of Columbia Savings
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04

Bonds Division Of the Treasury
Department. told the audience
the department is wholeheart-
edly' in favor Of Invest in
America Week. He emphasized
savings through payroll de-
auctions.
John Schoenfeld. partner in
Ferris & Co.. explained the ex-
tensive publicity planned for
Invest in America Week here.
He said posters and displays
will be available and there will
be mailings available for
schools. He stressed the i'm
portance of publicity through
the newspapers, television,
radio and other media.
Henry Loss. manager Of the
Community Affairs Department
Of the Washington Board Of
Trade, will help distribute pub
licity material. Lou Brott il
publicity director for the OBJ
Servance here.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04
BY WILLIAM A. MILLEN
Star Stan Writer

The savings Of the people are
the cornerstone Of the Ameri-
can economy, a kickoff meeting
for Invest in America Week to
be observed here April 81 to
May 8, was told yesterday.
Conducted under auspices Of
the Washington Board Of
Trade and the Investment
Bankers Association, the meet
ing was held in the board room
of the National Bank Of Wash
ington, 619 Fourteenth street
NV. Barnum l.. Cotton. the
banks president, who is chair
man Of Invest in America
Week here, welcomed the SIS
business leaders who attended.
Richard l.. johnson Of the
investment firm of Merrill
Lynch, Pierce, Fenner g. Smith.
a member Of the Washington
committee having the program
in charge, explained its pur-
poses.
THE work and savings of the
people have produced the high
est standard Of living in his
tory" Mr.. johnson declared.
Competitive enterprise is de-
pendent on the continued sup
ply Of these funds, which
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04
CHICO LIVESTOCK

CHICAGO. Mar. 4 Up, tUSDA =
Salable hogs, $500; slow: % to mostly
80 lower early on butchers: with least
decline on few hundred sorted -
2nO-225 lbs. but later trade and close
30 to as much as - lower on an esti-
mated 1000 head, sows slow. 20 TO
80 lower; only fair edmand on shipping
account. and to some local packers.
2-3 100000 ID. butchers 20 35-2U.6O;
with numerous .OO-2tO lbs. 2O4O-
20,6o-.O.75; around $50 head mostly
supply 20 .7O-aoO lbs. la.i5-5O. IS:
but weights oyer go lbs. scarce; a few
i No. s. s 0i lbs early e o s29e1 ds ots
mixed Grade 425-550 ID. sows IL SO
1880; little below 1913: with a
smaller volume 325-34O ID. s9ws 1880
1925.
saiable cattle 5000: calves 200,
slaughter steers fairly active; steady
to 80 higher: mostly steady to strong
cows and bulls steady to strong; veal
ers steady 10 100 lower: stockers and
feeders strong; load prime .125 Id
prime with a choice end $500; a few
loads l.l5O-l ,435 lbs choice with a
prime end ~ f5-32 so: most good 20
average choice 25,00-30. 90: utility
and standard so;50-s4 90; half load
$50: standard and low good 2O.5O-
2inO; utility and commercial COWS
lb.25-1S.JU. Gamers and cutters
90 n; some heavy cutters
20 .OO-22 So good and choice veaiers
20 OO-B4 90; standard ~ .OO-2S. 90;
Gull and utility i00O-2O.OO. Good
500 ID feeding steers 800: medium
and good e30 lbs 300; a load a75
ID stock heiferS "a %
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04
FOREIGN ExcH'GE

NEW YORK, Mar. 4 R.-Foreign
exchange rates Great Britain in dol
lars others in cents unbalanced unless
otherwise noted:
Canadian dollar in New York open
market > 3/32 per cent premium or
IO2 .O9 a U. S. cents up 1/32.
Europe: Great Britain (pound) So 81
up L 60-day futures 2.7e $3.50: go
day futures 2.7Sls. up 1892; Belgiuin
lirancl 2,0Qis, on .O0H: France
tfranc) ,s3N: Germany (westefn)
(deutsche mark 23 so; Holland (guild-
err 26.3S, on .00la; Italy Giirsl i6M:
Portugal (escudo) $50; Sweden
(krona) 1884 Switzerland (franc)
(free) 1894: Denmark (krone) 1880.
Latin America: Argentina ttree)
Venezuela (bolivar) 5000.
Far East Hog Kong dollars lT.6S.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04
Rate on 9l-Doy Bills
Shows SIioht Decline
BY the Associated Press

The cost of the Governments
short term borrowing, which
declined a week ago, rose
slightly on yesterdays $780,
1877 900 issue of Treasury bills.
The Treasury announced that
the average of bids for the
regular weekly 91-day bill issue
was 1851 per cent compared
with 1902 per cent last week
and 1871 per cent in the pre-
vious week.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04

increase OF $5.Oll,7OO from the
previous period, while operating
costs of $53,640.600 were up
$3.308,600.
Net for January showed a
somewhat smaller gain from a
year earlier. A total Of $878.-
100 was 2.5 per cent above
$e56s900 in January last year,
This compared with a 12-month
gain of ST. per cent.
January operating revenues
Of $5,946,700 were up $500. TOO
from q year earlier, while oper-
ating costs Of $4,602, 200 were
$279. 800 higher.
cross additions to property
and plant amounted to $751;
10000 in IL months ended
January 81 and directors in
February authorized additional
construction projects totaling
$1480.900, the report said.
For the IL months, sales of
electricity aggregated $685.
10000 kilowatt hours. a gain
Of 81 per cent from the pre-
vious period January sales Of
500, $4,000 kilowatt hours were
rs per cent above a year ago.
GELICO Earnings Rise
II Per Cent During Year
Net income of Government
Employees Life Insurance Co.
Jumped to $502,321 in 1857, a
gain Of 81 per cent from $414,-
1855 in the previous year. Presi-
dent Leo Goodwin disclosed in
the annual report yesterday.
Life insurance in force
reached a new record of $110,-
307:517 at the years end. a
gain of 20 per cent during the
year. Sales of new life insur-
ance during the year amounted
to $28.200.l47 and the average
size of policies was $4.190, COM
pared with SO, 1858 in the preced-
ing year.
Premium income of $2,545,-
o71 was up IS per cent for the
year. Investment income Of
$211.653 was 81 per cent higher.
The portfolio yield was 1893 per
cent VS.. $50 per cent in 1856.
Assets totaled $7,438,547 on
December 81. a gain of SO per
cent from year earlier. Capt.
tai and surplus amounted to
$1.819.862. a gain of 81 per cent.
At the annual meeting March
26. stockholders will vote on a
proposal to / decrease authorized
capital stock to 225, 900 shares
from 215.000 to permit the dec
laration Of future stock divi-
dendS. A stock dividend Of 3
per cent was paid last year.
Safe Deposit Section
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04

organization will be Joined in
its spring meeting by members
of the Maryland Safe Deposit
Section. l
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04
MUTUAL FUNDS

NEW YORK, Mar. (P,.-Nati0aal Assoeia-
tea Securities Dealers, Iae., noon quotations.
Rid ASknd nih Aeknd
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04
METAL PRICES

NEW YORK. Mar. 4 H1.-spot
nonierrous metal prices today: Copper
vsiieS. Lead "a ce GIs0 po Snns'I New
York Zinc 10 cents q pound. East
81. Louis. Tin n4Ts cents q pound,
New York Foreign silver ssss cents
per troy ounce, New. York. At Pitts
burgh scrap steel No. 1 heavy was
quoted at SO .0O-3T.O0.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04
'9 s BUSINESS
Sl.58 q Shore Earned
By PEPCO in u Months
BY DONALD b. HADLEY
star financial Editnr

Net income of Potomac Electric Power Co. amounted to
$l0076200 $5s share IL months ended 81.
compared with $9535600 $54 share the preceding
months the company reported today
Operating for the period totaled an
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04
S-Clarke Starts
Expansion Program

NEMS-Clark Co.. a division
of Vitro Corp. of America has
started an expansion program
which will add around $1,000
square feet adjacent to its pres
ent quarters in Silver Spring.
The personnel Office has been
moved from the main plant at
919 Jesup Blair drive in Silver
Spring, Nd. into the first floor
of the nearby building at 910
Burlington drive. Also some
equipment has been put in
storage on the first floor Of
the adjacent building, releas-
ing space for main plant facili-
ties expansion.
1t is planned to transfer adj
ministrative Offices to the adj
jacent building eventually.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04
TAX'MEMOS
BY FRANCIS p. DOUGLAS
Star star Writer

The following notes are sum-
married from Tar Court opin-
ions and Internal ReUenue
Service rulings.
SWEEPSTAKES WINNER
A wife bought for $3.50 a half
interest in a sweepstakes ticket,
on the English Derby. That
night at supper she kidded her
family about "us getting rich.
or something" She, told others
the whole family had an inter-
est in the ticket.
When the drawing was held
the ticket was drawn and as
signed to the horse Pima. The
wife then made formal dec
laration of her intention of
placing the children's share in
the hands of a trustee for their
benefit. The trust instrument
was drawn up subsequently.
PIMA won. The return from
the $3.50 ticket was S69,750.
Of which $34,875 went to the
wife and her husband and was
reported as income, with a like
amount going to the trustee.
The Internal Revenue Com
missioner contended the wife
was sole owner of the ticket.
He included in the income of
the wife and her husband the
amount received by the trustee
and claimed a deficiency of
$22.159 in the couples income
tax and added a penalty Of
81, 628.
Held-Perhaps in a technical
sense she did not clearly estab-
fish her intention at the time
the ticket was bought that it
was for the whole family. But
her failure was due to art
lessness and we think it fair
to say that the things she did
do to carry out her purpose
were such as the nature of
the transaction and the cir
cumstances and surroundings
of the parties reasonably re-
quired. IT. c. Memo. l958-29.
SICK PAY EXEMPTION
The revenue service comedies
that a certain measure Of
employe-employel relationship
exists between retired mem
bers of the armed services and
the Government. But it holds
that a service member on the
retired list for reasons other
than physical disability is not
absent from work when he is
sick or injured. Even though
he may be hospitalized. no part
of the retired pay may be
excluded from gross income as
sick pay exemption-Rev. Rul.
58-43.
WHEEL CHAIR COST -
Where a sick person acquired a
wheel chair or "autoette." either
manually operated or seif-pro-
PEELED, and uses it for allevia-
ton Of his disability and not
Just as a means Of transporta-
ton between home and work,
the cost constitutes an allow
able medical expense. = Re2
Rul. 58-8.
GUET TAX-The sole stock
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04
Electric Appliance Sales
Follow Mixed Trend

Follow Mixed Trend /,
Unit sales Of electric APP
planes in this area followed
a mixed pattern. with declines
in the majority, during jan
uary. data from the Electric
Institute Of Washington dis
closed eoday.
Unit sales Of radios rose
to $685. from 6.063 a year ago,
but .television sales totaling
4,874 were far behind 8,S45 in
January last year.
Room air conditioners totaled
691 VS.. 586 a year earlier, but
only 1851 vacuum cleaners
contrasted with 1880 in Janu-
airy last year.
The report covered territory
served by Potomac Electric
Power Co. January and year
ago figures for other appliances
included:
Electric refrigerators: 3.344
VS.. 1858: electric ranges. 615 VS..
470; food waste dispoSers. 487
VS.. 1856; dishwaShers, 371 VS..
772; electric dryers. LOIS VS..
1.248: automatic clothes wash
erS. 1886 VS.. 3.073: conven-
tional washers, 400 VS.. 1877:
water heaters. lot VS.. $50:
ironers. 10 VS.. IL; freezerS, 807
VS.. 958; dehumidiflers. 81 VS..
1872.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-03-04
Safe Deposit Section
Will Hear Fitchtel

Rudolph r. Fitchtel, director
Of the Public Relations Council
Of the American Bankers AS
ISOLATION. will address the Safe
Deposit Section of the District
Bankers Association at a din
ner meeting at the Mayfiower
Hotel on Tuesday, March 10.
Joseph H. Riley of National
Savings g. Trust Co.. section
chairman, said the Washington
The frontiersman., 1958-01-23
Original Fire Association Makes Final Gesture

Shortly after the City of Pal mer was incorporated the Matan- uska Valley Fire Association turned over to the city, at no cost, fire fighting equipment con sisting of the three fire trucks, lengths of hose and miscellaneous equipment, The old fire depart ment then went out of business.
 Since that time the association has had a small bank balance and many. times ideas came up regarding the disposal of the money. The president of the orr ganization, Al V. Hagen and the secretary treasurer, Marty Sher- man, have now cleared the slate.
 A check in the amount of $38.43 has been issued to the Butte Fire Association and another in the amount of $3850 to the Palmer Volunteer Fire Department, thus completely ending the old Matan- uska Valley Fire Association. The money will be used by the vol unteer fire fighters for the bet terment of their organizations and
 Continued on page 5
The frontiersman., 1958-01-23
PUBLIC INVITED
 TO JOHN DEERE DAY PROGRAM TUESDAY

Another big John Deere Day" program will be presented in Pal mer this year by Al Brooks, area representative of Northern Com nercial Company. The program will be held in the high school cafeteria next Tuesday evening, January 28, starting at 7:30 pm.
 Farmers and their families will see many equipment advances during the program, including planters, bedders, cultivators, and others. Brooks stated the forth coming program is more colorful, more informative, and more en- tertaining than ever before.
 A new film, Oddities in Farm ing will be shown in technicolor. The film is reported as a rib tickling" western musical comedy.
 No admission charge is made for this annual program and the public is cordially invited to at tend.
The frontiersman., 1958-01-23
LOCAL CO-0PS TO SPONSOR COURSES.

Fees for the three credit course in Cooperatives at the Palmer Community College are reduced to the nominal sum of $10 it was announced today by L. J. Klebes- adel, director of the college.
 Directors of the major local cooperatives, M.E.A., M.TA., M.VF.C.A, and the Credit Union have indicated they will assume the major portion of the expen- ses. Text books will be furnished.
 The unique course is taught in very few Universities in the Un- tied States and has not yet been offered at the University of AL aska. The course will consist of a survey of cooperative principals including a study of such diverse cooperative organizations as the Associated Press, Chicago. Board of Trade, mutual life insurance companies, as well as farmers buying and selling cooperatives.
 The course will be of particular value to people of this area as practically every resident is a member of one or more co-opera- tives.
 H. P. Gazaway, economist at the Experiment Station, will in struct this course. Gazaway rel ceived his B. s. and M. $. from Oklahoma State College. His mas ter's thesis was work study of cooperatives. He did advanced work at Michigan State and taught courses in agricultural ec- onomics, including cooperative courses at Oklahoma and Cobra do State Universities. He has six years of research and teaching experience in marketing of food products and the principals of marketing. In September 1853 he became marketing specialist with the Experiment Station and in April, 1855, was named head of the agricultural economics de- partment at the Station
 pr. Klebesadel added that there are favorable indications that M.E.A. and the M.V.F.C.A. will join another agency in spon- soring series of five-week cour- ses in Electric Welding Those in terested should sign up at the Community College.
The frontiersman., 1958-01-23

evenings. A certificate is issued for satisfactory completion of the course. History of Alaska. being taught by Robert Critics, high school history teacher The course is based on the Russian back ground, followed by exploration and settlement of Alaska as an American territory. Glasses are held Tuesday and Thursday even ingS.
 Public Speaking. This course, being taught by Mrs. James Hull bert, Extension home agent, is based on the development of fun damental skill in direct public address, with emphasis on pur- pose, audience, occasion and types of speeches. Psychology. general. Fundamental general psychology and human behavior; various schools in the field of psychology; experimentation and the practical application of psy- chology. The course is being taught Wednesday evenings by Mrs. Charles Marsh who received her masters degree in psychology with minor in sociology from Kansas State College, where she taught general psychology for two semesters.
 Shorthand. Tuesday, Wednes- day, and Thursday evenings is being taught by Mrs. Margaret Cope, high school teacher. The course offers beginning Gregg shorthand for secretarial students, with emphasis OH theory, reading
 Continued on page 8J
The frontiersman., 1958-01-23

science ln Alaska and elSeWhere and is a course found in few in stitutions. It includes survey of care and breeding of livestock, field and horticultural crops, soil management and fertilizers, con serVation, farm management, and farm mechanics and structures. Classes are held Tuesday and Thursday evenings.
 Elementary Bookkeeping is be- ing taught by --- Rankin of the Palmer teaching staff. Classes are held Tuesday and Thursday evenings and a certificate of sat isfactory completion will be is- sued to those completing the course, Business English. a basic grammar review, vocabulary building, spelling, punctuation, and fundamentals of business writing, is being taught by Paula Maine, Palmer school teacher, Tuesday and Thursday evenings. Business Law. offered on Tuesday and Thursday evenings will be taught by Herbert Lang of the Department of Agriculture. At the present time James Hurley, AR.R.C, manager, is substituting for Lang. The course offers sur- vey of the legal aspects of busi- ness problems; basic principles, institutions and administration of the law.
 First-Year French. Tuesday and Thursday evening classes desig- ned to develop rapid acquisition .of a knowledge of French. The course is being taught by Paul Martin who is a graduate of Clark University, Worchester, Mass. where he received his B.A. and MA. He taught at Oklahoma A & M for five years.
 Cooperatives, this course is de Scribed in a separate article ap- bearing elsewhere in this paper.
 Driver Training. John Schreib- CT is giving instruction in this course in groups of four in dual controlled automobile. Schreiber is an A.A.A. certified instructor. Instruction is given in all of the normal operations of the car in cluding traffic operation on Tues day, Wednesday. and Thursday
The frontiersman., 1958-01-23
FREE WILDLIFE FILM
 TO BE SHOWN WED.

A very interesting wildlife film, "Cheechako" will be shown with out charge in Palmer next We'd nesday under the sponsorship of the Matanuska Valley Sportsmen. The film will be first shown at Central School during the after noon. An evening showing, at 8 p.m., will be held at the Valley Theatre. The use of the theatre is being donated by Al V. Hagen. The public is cordially invited to attend this showing.
The frontiersman., 1958-01-23
DONATIONS CONTINUE FOR HOSPITAL TABLE

Donations continue to be turn ed in toward the new obstetrics table purchased for the Valley hospital, members of the Hospit- al Auxiliary reported this week.
 Recent contributions were re- ceived from the Suttonette Home makers Club, $1O; Palmer As sembly Rainbow for Girls, $32; Hospital medical staff, $75; XI Eta Chapter BSP, $l0; VF.W. Auxiliary, Wasilla, $25; and an additional $88.18 from a combin- ed contribution from the Palmer Library, Palmer P-TA and Mat anuska Valley Chamber of Com merce.
 The latter amount of money was donated by the mentioned groups as their share of the net profit made at holiday time when the Anchorage Community Chor- us and Anchorage Community College Workshop presented a program under the sponsorship of local organizations and business