davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
Plant Idleness Reported
Generally Exaggerated

Plant idleness in the current
recession has been exaggerated
generally, but obsolescence is
a handicap to business recov-
cry for one-fourth of the Ma
tons middle-sized manufac-
turers, reported Dun's Review
and Modern Industry today.
In a survey of 367 manufac-
turers in "A cities, 95 admitted
operating with equipment
which was % per cent obsolete.
There is a direct relationship
between obsolescence and idle
ness. the survey found.
Three-fourths Of the COM
panies surveyed were operating
at 95 per cent or better of their
peak production rates of the
last two years, and these con-
Germs reported only 5 per cent
obsolescence in equipment.
Companies with the poorest
showing were operating at IS
per cent of their two-year peak
and it was among these COM
panies that obsolescence was
most pronounced and problem;
of financing a modernizatior
program most difficult, Many
concerns admitted they coulc
sell the increased output of i'm
4 proved facilities at a profit. bu'
were hesitant to accept thu
burden of financing improve
mentS.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
CHICAGO
LIVESTOCK

CHICAGO, Aug, 20. tAPl UsDAl.
steady. to IS lower early on butchers;
lower: closed fully 50 lower; 1-3 ECO.
225 ID butchers 2000-20.50: q few
lots early to 20 rs; with MOST later
ana slGsing sales ts., 2o 0o;sSts 80; s sS
So 23O-9so lbs 2O5O to mostly 20.75:
10 .S5.o0'a5: mixed Grade 400-500 ID
sows IS 0O-19 ,00 325-,400 lbs 1900
20 90: a few 300-325 lbs 20 ,O0-20 30.
ter I steers average choice and better
moderately active; steady to strong;
low choice and below steady to weak;
heifers average choice and better
largely steady; lower trades slow SLOW ana
ives tiSe m0s fiSH STEADY Bulls and yealefs
steady; choice to prime l050-1 500 y
steers o7.00-9S so; several loads of
low to average prime 1,250-l ,325 lbs
75O load 6 high che. choice and prime Prime
"a. 50-o7 so: a few lots standard and
low good 90 25-24.25 a load mostly
choice and prime h hs ga6 SS g. f.G
Utility and standard 21,O0-22 50;
utility and commercial cows lS00-
Gamers and cutters l5.75-l9 .OO' a
| few iight weight Gamers down 70
/ 1900; utility and commercial bulls
! u .a0-2425: good and choice vealers
| % OO-32 90: utility and STANDARD
| IL 0O-29 90: culls down to l2uO; 9
| load mostly choice $40 ID feeder
steers 36.25: a part medium SEQ ID
/ feeder steers 1895.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
Sofewoy Stores
Raises Dividend

NEW YORK, Aug. 20 (AP).-
Safeway Stores, Inc. directors
Yesterday increased the dividend
on common stock and voted to
make payments on a monthly
rather than quarterly basis.
They voted a quarterly divi-
dend Of 80 cents a share on
common, payable October 10 to
holders of record August 90.
Previous quarterly payments
were Is cents.
Starting in November, pay
ments will be made every month
with the first dividend of 10
cents payable November l to
holders of record September 26,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20

operators and employees Of the
Federal Government. These are
Enthusiastically better OF.
In the first half Of 1858 the
annual rate Of farm incomes
SCARED % per cent ahead Of the
FIRST half Of 1857. After every
adjustment for price increases.
there is no doubt farmers have
been leading the income parade
during this recession.
Real incomes Of white-collar
Federal employees are running
more than 5 per cent ahead Of
early 1857.
Real incomes Of workers in
utilities are running 3 per cent
ahead and incomes Of employees
of Glass One railroads are
almost 3 per cent higher and
incomes Of telephone workers
are nearly 2 per cent higher.
To those who have been job
less in this recession there's
scant comfort in a tale about
those who have gained. Yet. the
overall maintenance Of per-
sonal incomes is a key reason
the 1957-58 recession was not
worse, and the new upsuree in
personal income is a great force
behind the revival now rapidly
picking up speed.
Distributed 1858. BY The Hall
Syndicate, Inc. All Rights Reserved.I
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
YOUR
MONEYS WORTH

1858, according to Bureau of
Labor Statistics calculations.
In that period real weekly
earnings of auto workers
slumped 7 per cent; real earn
ings Of workers in basic iron
and steel industries were OF 81
per cent and real earnings Of
workers in textiles dropped SIS
per cent.
And this also happened to
workers in coal mines, tire fac
tories. metal mines, appliance
firms, etc.
What groups have managed
to hold their own and even
gain a bit in terms Of incomes
adjusted for increases in liv-
ing cost? Again, according to
BIS calculations:
Between January 1857 and
June 1858 real incomes of
workers in retail trades adj
vanced about IA per cent.
US. PayrOIls Mount
Workers on local government
payrolls also climbed the lad
der. Annual pay scales Of fire.
men and policemen, adjusted
for living cost changes, are es-
timated up about l per cent
and annual pay scales Of
Schoolteachers are figured ur
more than that.
And what groups have really
advanced financially in this
period?
Heading the list are farm
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
Who's Better Off?
DY SYLVIA PORTER

How did you make out A.
nancially in the recession Of
l957-5SP
Are you among the millions
Of workers coming out ahead
in terms Of real" income-the
total of dollars you earn adj
justed for increases in the costs
Of goods and services you buy?
Or are you among the mil
lions who have just about held
your own--meaning your pay
has roughly kept pace with
rises in your living costs?
Or are you among the mil
lions who have received a A.
nancial blow either because you
have been out of work for a
prolonged period. are still job
less or are working a sub
stantially shorter number of
hours per week?
In a catastrophe depression,
such as we suffered in 1888.
only a minor few manage to
keep their place on or to march
up the financial ladder.
Differences Cited
But in the three business
downturns since World War II,
different groups of workers
have been affected in different
ways. A lot more people than
you may guess are emerging
from this latest decline de-
cidedly better off. Specifically
Who has been hit the hard.
est?
The answer is obvious: the
unemployed, particularly ir
centers of heavy industry. Ever
though we are on a business
upswing again, the total of job
less still exceeds 5 million, anc
in past months of downturn
many additional millions have
been out of work for varying
periods. What's more, Other
millions have been taking home
less pay because of the short
ening of the average work
week.
AS a yardstick of the exten
of the blow, real weekly earn
lngs of all factory production
workers fell 81 per cent be-
tween January 1857 and Junt
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
National Bank Promotes
Barrett and Kaufman

Richard D. Barrett today was
named assistant cashier of the
National Bank of Washington
and assigned as assistant man
ager of the new Chevy Chase
branch.
President Barnum L. Cotton
announced the appointment
and at the same time said that
Joseph A. Kaufman, member
Of the law firm of Donohue and
Kaufman, was being named to
the banks advisory board.
Mr.. Barrett, formerly with
the Reynolds Metals Co., has
been associated with the bank
for the last year. He is a gradu-
ate of Yale University. The new
Chevy Chase branch is nearing
completion at Connecticut ave-
nue. and Oliver street NV
Mr.. Kaufman is a native Of
Alexandria and a graduate OF
George Washington University
Active in civic affairs, he has
been president of the Fedora
ton of Citizens Associations
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
Association
Accused Of
Mail Fraud

BALTIMORE, Aug, 20 tAP) i.
A savings and loan associa-
ton sued two postal inspectors
for S2.5 million yesterday and
a short while later was indicted
by a Federal grand jury on
charges of attempting to de-
fraud through use Of the mails
The indictment Of the Com
mercial Savings a. Loan Asso.
citation, Inc, followed several
m onths of investigation in
which Inspectors Alton j. Muir
ray and Keith Meyer partici-
pated.
The indictment names, in adj
dition TO the association, Rob-
.ert Suchman. president, and
two Chicagoans, c. oran Men
six and Mariana Barto.
The association was in
corporated in Maryland last
November. 1t has Offices in
Baltimore. Silver Spring and
Bethesda.
The indictment states 1t ad-
vertised in newspapers a divi-
dend of S per cent on prepaid
savings certificates. The grand
jury charged that readers were
not informed the total casf
amount was $4.87 and that the
sum was not paid out of or
binary profits but artiflcially
generated for the sole purpose
of attempting to justify the adj
vertised dividend offered in
tended to be defrauded."'
1t also was charged that tn
association advertised its &C
counts were insured UP to $40,
900 well knowing that tn
insurance company purportedl,
inSuring the accounts did no
have sufficient assets to fur
nish adequate protection"
The company had ADVERTISED
its accounts were commercial,
insured by the Internationa
Guaranty and Insurance Co. o
Tangier, Morocco.
The indictment contended tn
association intended to max
speculative loans without ade
quate security.
The association complain
against the inspectors charge,
they used "Gestapo tactics" il
their investigation for the gran
jury.
They said the inspector
"have taken on the role of ap
praisers, evaluating securitie
and real estate with no qualifi
cations on their part"
In its request for damage
the association asserted publ
city about the investigation wa
highly injurious" to its repu
tation.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
Directors Sue to Effect
Lincoln Bank Merger

not be included in the amount
to be voted on the merger.
Direct the Davis interest to
vote their stock and proxies
in favor Of a merger,
Enter a judgment in favor Of
the plaintiffs for $l,040.000 If
the above measures fail.
The court also was asked to
stop the Davis group from en-
larging its holdings in Lincoln
National stock. The suit
charges the defendants have
been buying additional stock
at $40 or Sis when the true
market price" has been $40 a
share.
Bigger Dividend Expected
Merger with Riggs, the
plaintiff directors contend,
would result in the CONSOLE
dated stock offering dividends
"of not less than So per cent"
more than those now paid by
Lincoln National.
The contingent damages of
81 ,040, 900, Mr.. Dress explained,
represent the difference of the
prevailing price of $40 per share
before the proposal was made
public and the anticipated $llC
a share under merger terms OF
the consolidated stock.
Mr.. Dress said his suit was
brought as a precautionary
measure to protect the Other
stockholders. He said he doubts
that the Davis group has the
necessary stock and proxies tx
defeat a merger.
He added that it could wei
be that the merger will be car
ried when the votes are counted
after the September is stock
holders meeting.
] Merger of the two bank
would consolidate Riggs, thu
city's largest bank with de-
posts of more than $463 mil
lion, and Lincoln, the sixth
largest with deposits of approx
. imately SAL million.
Davis Interest Set Out
The injunction said consoli
dalton would cause Mr.. Davis
ST., to lose his highly profit
able" post as Lincoln's boarC
chairman.
1t would also result in loss o
substantial private and col
lateral business benefits for MI
Davis and his son (which the,
have received for many year
in the past"
Mr.. Davis salary as boar
chairman, Mr.. Dress said,
$22,500 a year. In addition h
, and his son own a real estat
and an insurance business.
Plaintiffs in the suit are tn
bank itself and the followin
directors: Richard A. Norris
; president of the bank: Jane
P. Benfer. jr.. William v
( Brawner, William Calomiris, I
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
Capital Deposits Climb
0.S Pct. Above Year Ago


4 Deposits of 10 Reserve mem
Der banks of Washington ex-
panded to $1,307,528,000 on
August 10, an increase of $4,-
$4,000 from a week earlier and
$105,071,000 or 8.8 per cent
above a year ago.
Rejecting higher buying
power and a pickup in general
business activity, the gains were
disclosed in the weekly report
from the Federal Reserve Bank
Of Richmond.
Demand deposits of 1894, $751;
900 were up $4,932, 900 from a
week earlier and $68,247.000 OF
7,3 per cent above the like 1851
date.
Time deposits of $312,877,0oC
were off $4,000 from a week
earlier, but $36,824,000 or 1871
per cent above year ago.
With loans making much less
impressive gains, investments
advanced to $533,019,00O, g
gain of $3,304,000 for the weeE
and $72,295.0 900 or 1877 per cent
above a year earlier.
Net loans of $552,557, O0(
were off $2,666,000 in the lat.
est week and only $12,736, 900
or "a per cent above a veal
ago. Commercial and indus.
trial loans of $245,795, 900 were
down $4,000 in the week, but
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
HuIsey Best Bidder

NEW YORK. Aug. 20 (AP).
An underwriting syndicate
managed by Halsey. Stuart &
Co. submitted the apparent best
bid yesterday for $21.5 million
of Los Angeles various purpose
bonds. Subject to the award, the
bonds due 1959-88 we're reof-
fered to yield 1.25 to 3.85 per
cent according to maturity.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
LittOn Industries Reports
S2.12-Share Earnings

Litton Industries today re-
ported earnings for the year
ended July 81 of $2.12 a share
on the 100000 shares out
standing-up more than 40 per
cent from $1.51 last year.
Sales and other income for
fiscal 1858 totaled approx
mately $83 million as compared
with $28 million last year,
President Charles B. Thornton
reported. The firm owns two
Maryland plants - Maryland
Electronic Mfg. Co. and Litton
Industries of Maryland, both
at College Park.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
FOREIGN EXCH'GE

NEW YORK, Aug. 90 tAPl For
eisn exchange rates, Great Britain in
dollars, others in cents Unbalanced
unless otherwise noted:
Canadian dollar in New York open
market 3 $3.50 per cent premium or
lob 7Sis U. S cents.
Europe: Great Britain tpoundl . so
10 -. up 80; 30-day futures so
IL 81: 6O-day futures $50 f32. Up
/ 30: a0-day futures go 23f32, up
/ 30. Belgium (francl zoos: France
franc 237s Of cent; Germany
tWtsternl (deutsche mark 23S7: Hol-
land jguilderl IS AZ: Italy (lira) .16ls
Of q cent. Portugal tesO1dol $50:
Sweden ,kronsl 1884; Switzerland
Ifrancl Gree % 34. Denmark tkronel
Istin America, Arsentina tfree)
. -: Brazil freel Il Of cent;
NsV'en ni veaeZuels fbolivar) so 90
Far East Hons Kons dollar 1880,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20

Sixteen directors OF Lincoln
National Bank asked District
Court yesterday to prevent
Board Chairman Floyd E. Davis,
his son and son-in-law from
blocking a proposed merger
with Riggs National Bank.
An injunction suit brought
by Attorney David g. Dress
contends the banker. his son,
Floyd, jr.. and Charles A. Cam
alier, jr.. seek to defeat the
merger scheduled for a test at a
September Is stockholders
meeting.
Mr.. Davis son and his SON
in-law are also directors OF
Lincoln National.
The Davis group was agree
able to a merger when 1t was
first proposed on April is, the
suit asserts. 1t further stated
that the defendants acted in
bad faith" by later opposing
the merger ito the detriment OF
all the other stockholders and
to subserve their own personal
advantages"
In published letters to stock
holders and Richard A. Norris,
president of the bank, Mr.. Davis
has denied that he ever con-
sented to any merger or consol-
idation. None of the defendants
could be reached for comment
on the suit.
1910 Vote Of Approval
In addition to the three de-
PENDANTS there are 100 othel
stockholders. Mr.. Dress said.
The suit states that the Davi
Interests hold about 30 per cen
of the stock when the merge
plan was approved by the direc
tors by a 1910 vote. Four direc
tors either were absent or pres
ent and did not vote.
Two weeks later Mr.. Davi
announced his group had sufh
Gent proxies to defeat the plar
At the time, the suit said, MI
Davis also denied he had "eve
consented or agreed to an
proposed merger or consolida
ton.
To become fact the merge
must be voted by one sharu
more than the two-thirdS o
the outstanding 10000 share
of common stock.
Vote for Merger Asked
The suit said, by reason o
the substantial stock interes
} owned by said defendants il
: plaintiff bank. no such nego
J tiations or publicity would hav
been tolerated by plaintiffs bu
for the expressed willingness
, assurance and offer of said de
: PENDANTS to agree to such con
5 solidation."
The plaintiff directors Q
Lincoln National asked tn
court to:
n,,1n HAT Ahn Ne, ,ir nknn
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20

Wayne Clarke, F. Elwood Davis.
Albert S. Galley, H. Burton
Leahy, jr., Robert E. Lee, Rob-
ert /. Lyon, John w. Miller,
George H. Norton, Samuel H.
Rogers, jr., Fred A. Smith, Guy
T. Steuart and Charming S.
Walker.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
(. '' 81 s''BuszNEss
Luchs Named President
OfWoodword Building
BY JOHN A. GILES
Star star Writer

Frank j. Luchs, veteran Washington real estate man,
yesterday was elected president Of the Woodward Building
Corp which recently acquired the building at Fifteenth and
H streets NV. at cost in excess Of "a million.
William B. Wolf, named executive vice president
Other officers elected Cox julius Godstein and s.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
OVER COUNTER

washington listines furnished BY the
National Association Of Securities
Dealers as Of pm. wednesday Au-
Gust % 1858.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20

Greenhoot Fischer. vice presi-
dents; william B. Wolf, jr.,
secretary-treasurer, and Marion
Lovitz, assistant secretary.
To serve with the officers on
the board Of directors. the fol-
lowing were named:
Donald Hurst, Ethel M.
Fishtere, Leon Katz. James
Lansburgh and Alfred E. Rosen-
hirsch of New York.
The corporation took over
the office building last week.
Mr.. Luchs is a partner in
Shannon g. Luchs, which was
established in 1906. 1t now
manages Washington area bust
ness properties valued at close
to 500 million. He has been
active in civic affairs.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20

The Star is interested in helping Washington
area students who attend out-of-town schools
or colleges keep in touch with what's going on
at home and throughout the world. Students
who receive mail delivery of The Star daily and
Sunday also have the advantage of supporting
their studies with newspaper, noted for its
comprehensive coverage and objectivity The
Stars special rate is available to any area stu
dent attending school out-of-town. The savings
are in effect for the entire nine months of the
school year. These special subscriptions offer
important economy to the student on budget
. and make an excellent and thoughtful
back-to-School gift.
Phone Sterling $4,000. Ask for Mrs Virginia HuIl,
Ext $40, for complete details or
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20
Powell Named NARW
Executive Officer

Richard M. Powell, managing
director of the National Insti-
tute Of Rug Cleaning since
1850, has been appointed ex-
ecutive vice president of the
National Association of Re-
frigerated Warehouses. which
has more than 500 members
throughout the United States.
Mr.. Powell, who assumes his
new duties October /, is a ma
tive of st. Paul and a graduate
of Carleton College. During
World War II, he served in the
Air Force.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1958-08-20

$18,265,000 or 8 per cent above
the like 1857 date.
Arkansas State press. [volume] (Little Rock, Ark.) 1941-1959, 1958-12-05
Sunshine

John Ray of McGehee was the
dinner guest of Mr.. and Mrs.
Leon Aldridge Sunday. Mrs.
Almeda Gibson is on the sick list.
Mrs. Geneva Aldridge spent
Wednesday with Mrs. Lucy Wild
er of Wilmott. Mrs. MeDade
visited with Mrs. Anon Evans
Wednesday. . Thought for the
week, Smile, and the world
smiles with YOU
Arkansas State press. [volume] (Little Rock, Ark.) 1941-1959, 1958-12-05
Stephens ScsooI

Continued from page Six
Brenda Ward
Johnny Winfield
Grade 2
Brenda Allen
Deborah Chandler
Milrita Enochs
Marion Gee
Johnnie Gordon
Brenda Gray
Deborah Halbert
James Holmes
Nola Bernice Holt
James Holmes
Robert Jackson
David Johnson
Claude Joyner
Emma Lewis
Willie Smith
Ronald Stewart
Lucille Thornton
Diario las Américas., 1958-08-09
REUNDA Ia.
(yiene de la Primera)

Asamblea General sobre Levante,
que debera reunirse hoy pero que,
no comenzara a tratar la question
hasta la semans proxima.
Sc indica, que los objetivos nor
teamericanos en- la Asamblea, Sc
ran de alcance relativamente limi-
tado, aunque dirigidos al logro de
10 que ell E~mbajador, John Cabot
Lodge califico aver de clos amplios
problemas fundamentales", involu-
GRADES en- la question.
Los funcionarios dicen que las
promesas de intensificar la ayuda
economical para Ell Levsnte no Sc
haran hasta que Sc haya consegui-
do I'm grade satisfactorio de estabi-
lidsd politica.
Las autoridades diplomaticas Sc
inclinan a Greer, que Ell Presidente
Eisenhower Sc presentara personal
mente ante la Asamblea, la soma
ma proxima, para iniciar la parte
norteamericana del debate; pero la
Casa Blanca dijo que aun no Sc
ha llegado a una decision al res
pecto. FL Presidente manifesto que
10 hara solo, 81 parece ser niece,
Sario y desable".
Diario las Américas., 1958-08-09
QUE ES LA...
-- viene de In PAg, Z ~

arranque para la labor creadora.
La n~aturaleza, por otra parte, no
es un modelq temporal reproduce
BILE por quienes dominan los recur-
SOS tecnicos basicos, sino un ejem-
plario permanente de algo supreme
y misterioso que ell artista trata de
eternizar. Cuando cierto amigo
nueStro, preocupado por esta clase
de problemas, respira satisfecho y
asegura; mo hay arte realistic nj
arte ~abstracto, sino arte", dice algo
algo muy vago, pero b~astante en-
caminado 81 inmediatamente pien-
sa que 10 artistico no es I'm virtuo-
sismo tecnico planteado a imagen
y semejanza de la piel del mundo,
nj una segunda version de 10 que
la vida realiza milagrosamente, 81
no I'm teiido expressive colmado de
valores plasticos capaz por su cate
goria de actuar sobre ell hombre
como un milagro elevator. Milagro
desde Ell momento que por SUI inc.
fabilidad nos pone en- contacto con
I'm mundo ajeno a 10 mediocre.
Elevator, porque solo ell verdadero
arte sirve aihombre para elevarlo
y mejorarlo, cuando haciendole
disfrutar de SUI riqueza constitutiva
10 pone en- contacto automatica-
mente con csc misterio intempo-
raj eternizado por las formas en- 10
que llamamos expression.