davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-06-07
YOUR
MONEYS WORTH
Stock Boom Masks Loqqords
% SYLVIA PORTER

You're literally sitting In the
heart Of Wall Street." I said to
Mr.. Hayes. what lessons do
you get from this table and
your other observations that
you'd like TO pass on to others?"
THE big thing is the point
about price. So many people,
particularly now, are being
misled by concentrating mostly
on price and Understanding
the Importance Of the outlook
for the company.s earnings, for
Its industry's earnings and for
business in general. Also, as
significant as any factor is the
capability Of the company's
management. The best manage
ment in the world couldn't
make q bonanza out Of q trolley
car company today. but a poor
one will take a licking even in
the electronics industry. Yet
management is a factor the
amateur usually completely
ignores"
Anything else?"
eyes, the average investor
should stick to stocks Of COM
panies about which he knows
something or can learn some-
thing through his own efforts.
There isn't any easy road to
success in investing. 1t takes
thought. study and homework,
never-ending homework.
"And one thing more. ANY
person who goes into this stock
market expecting big profits
in six months or q year should
get out quick. It won't work
that way.
"Just pass on this one mes
sage: II it's the sensational
profit year after year he's after,
he's crazy to look for 1t in the
stock market. Let him get out
OF the market now. and stay
out!"
(Distrihuted. 1850 nv the Vail svr-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-06-07


Rates Of dividends in the foregoing
table are annual disbursements based on
the. last quarterly or semi-annual decla-
ration. Unless otherwise noted, special
or extra dividends. are not Included.
2 Also extra OF extras, B AnnBal rate
In 1853 plus stock dividend. Paid last
year. Payable In stock during 1859,
estimated cash. vlue on ex-dividend or
ex-distribution date. G Declared or paid
g far this year. b Declared or paid
clared Or paid this year, an sccumnla.
tive issue with dividends in arrears.
? Paid this year, dividend omitted, de.
ferred or no action taken At last dividend
meeting. : Declared or paid In 1858 plus
stock dividend. Payable In stock during
1858, estimated cash value, on ex.dividepd
or ex-distTibution date. y Liquidating div.
idend, cid Called. Ex dividend, KIDS Ex
distribution. xr Elk rights, XIV Without war.
rants, WV With warrants. wd When dis.
tributed. vi When issued. nd Next day
delivery. q In bankruptcy or receivership
or being reorsanized under the Bank.
such cOmnauieR,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-06-07

About Q year ago Kenneth
Hayes. editor Of the New York
Stock Exchanges offcial mag
azine, decided to have some
statistical fun by working up q
list Of 81 well-known stocks
each selling at the time be-
tween $36 and $37 Q share.
II you had seen the list and
had taken it seriously you
could have put $50 in q share
Iof General Motors, which
makes cars. or $37 in q share of
Endicott johnson, which makes
shoes. Or you could have put
your tidy wad in o share of
Gillette, which makes razors,
or q share Of Philadelphia g.
Reading. which among other
things mines coal and turns out
underwear. Or your $50 might
have gone into O share Of
Household Finance Co., which
lends money, or Of Norwich
Pharmacal. which produces
drugs.
In today's issue Of THE Ex-
change" Hayes republishes the
list with the price changes
which have taken place in each
stock since.
What has happened to the
q is O spectacular illustration
Of the extent to which this has
been q market Of stocks going
in every direction rather than
a stock market going in one
direction.
1t underlines the degree to
which the great boom in the
stock price averages since early
1858 has masked q large total
Of laggardS.
1t proves how little the price
Of a stock, in itself, really
means and pounds home the
vital but oft-ignored fact that
a stock is not a good buy be-
cause 1t seems cheap or q bad
one because it seems expensive.
For here is what has hap
pened to the list:
While on April %. 1858, there
was at most 81 difference be-
tween the prices Of the 81
stocks. on April %, 1859, the
difference amounted to as much
as $80.7S. From virtually moth
ing. the price spread ballooned
to nearly 256 per cent!
While in the spectacular up
surge in overall stock prices be-
tween April, 1858, and April,
1859. Philadelphia g. Reading
stock scared from $50 to $lI2.5O
and Motorola jumped from UNI
der $37 to almost $86. the stocks
OF Endicott Johnson and House.
hold Finance actually declined.
While 10 Of the 81 companies
boosted their dividend pay
ments in the IL months, seven
didn't change them and four
cut them.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-06-07

Continued From Page H-l2
nun s' sv s ss I az sA Tow Clos. ss
", ss s ss''%,1 7" 3 az az =" s az
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-06-07

higher. sows steady to so cents lower,
on the close Us. I and z grade butch
ers 10000 Id 1925, 80 head mostly
No. / 1880, No. 1-3 1S0-240 ID 1880
1925, No. 2 and 2 24O-27O lbs 1900
1880, US. 1-3 sows 3O0-55O ID. IL so
IA so, few under 900 lbs 1900.
Arkansas State press. [volume] (Little Rock, Ark.) 1941-1959, 1959-10-16

ment of the first civil rights
bill by Congress in 81 years
and also has won 35 out of
38 cases tried by the NAACP
legal staff before the United
States Supreme Court, includ-
ing the 1854 decision outlaw
ing racial segregation in the
nations public schools.
NAACP is launched on a ma
tionwide membership drive this
month to carry on its battle
for better housing, working
rights, improved education,
and an outlawing of mob vio-
lence. Cleveland's branch help
ed to bring victory in the pass
age of a city fair employment
Arkansas State press. [volume] (Little Rock, Ark.) 1941-1959, 1959-10-16
NAACP To Launch Member Crusade

In 1909 group of So Amerl-
cans with a deep devotion to
decency and humane race re-
lations organized to promote
racial justice. AS the National
Association for the Advance
ment of Colored People, this
organization has grown into
powerful influence for right
ing moral wrongs. Today there
are more than 1900 NAACP
branches in As states, the Dis
trict of Columbia and Alaska.
The Cleveland branch, with
nearly $4,000 members, is one
of the largest.
On the national scene the
NAACP labored to bring enact
Arkansas State press. [volume] (Little Rock, Ark.) 1941-1959, 1959-10-16
don't support jim ;ro
United Nations
Continued from Page Ten)

Continued from Page Tenl
should decide their future He at
tackled a provision in President
de Gaulle's recent offer of self
determination under which the de-
cision of the Algerians as between
independence, Indignation and au-
tonomy would be subject to
French approval.
Ambassador Diallo Tell of Gu
inca told the Assembly, 1--WE de-
clare that direct negotiations be-
tween the French Government and
the Provisional Government of the
Arkansas State press. [volume] (Little Rock, Ark.) 1941-1959, 1959-10-16

Say, Jack, I hear you take milk
baths. Why?' Cant find a
COW TALL enough for shower. =
Odessa Lyons, Los Ang. Calf.
PLEASE NOTE: Do you know an
interesting story or ancedote? II
so, then we invite you to contri-
butte to this column. :. Your arti-
eles may be of current events,
stories. fiction or nonfietion. inter
esting community affairs or per-
sonal experiences. All articles
received and approved will be
paid for by this column, and will
become the property of same. :.
Send your contributions to
'NUFF SED!. care of this paper.
Arkansas State press. [volume] (Little Rock, Ark.) 1941-1959, 1959-10-16

boy so the doctor can get his
finger out of your mouth.
A horse went into a mite club
recently and ordered scotch. j.
He swallowed it down without a
word and asked how much. .
1.-TWO dollars answered the bar
tender. The horse pulled out
two ones and tossed them on the
bar and started out, when the
bartender called him back :.
Hey" he said. 1--WE been tend
ing bar for long time and this
is the first time horse ever
Arkansas State press. [volume] (Little Rock, Ark.) 1941-1959, 1959-10-16

came in here and drank scotch"
:. Yeah" said the horse, AND
AT TWO DOLLARS A SHOT 1T
WILL PROBABLY BE THE
LAST.
-Levon McCune. Milw., Wise.
The pastor found wine-o in
the gutter one night, drunk as US
ual. He picked him up and
told him it wasn't possible for
him to drink up all the wine that
the winery could make. The
drunk looked at the winery, all
lighted up, and said, maybe not,
but I've got EN- WORKING
NIGHTS
Norma Juarez, Chgo.. III.
Arkansas State press. [volume] (Little Rock, Ark.) 1941-1959, 1959-10-16

Algerian Republic is the only way
which can lead to the solution of
this tragedy which has been rag
ing for almost five years. who
will understand today how the
former head of the Provisional
Government of France, then in
exile, even outside the Eur
eopean continent, can refuse to
others what he was claiming so
strongly for himself, and what
was accorded to him, without
bargaining the inevitable dia-
logue with the Algerian Provision
al Government.
I'VE denounce publicly and in
advance any policy which tends
toward the 'balkanisation of Al
geria on the pattern of what was
done in the former declarations of
West Africa, divided today into
II little embryonic states.
We declare that no measure I'M
Materially imposed can put an end
to this insupportable massacre"
Arkansas State press. [volume] (Little Rock, Ark.) 1941-1959, 1959-10-16
WORTH REPEATING :
Continued from page Seven

municipal elections. It was the
first time since the Reconstruc-
ton era that Negroes ran for
public office in Memphis. 1t
was a bitterly fought campaign
that stirred such a cohesion of
Negro voters that the whites
had to close their ranks in
order to meet the challenge.
This manifestation of Negro
political strength instead of
Worsening the relations be-
Arkansas State press. [volume] (Little Rock, Ark.) 1941-1959, 1959-10-16
NB@el
by Mamie MauldIn, Jr.
and Myrna Cant

at takes both the BLACK and
WHITE keys on piano, TO play
the Star spangied Banner"
WORDS of WITSdom Science
solves everything. When they
found you could never open
TRAIN WINDOWS, they went
and air-conditioned the whole
train. Every time you turn green
with envy, you are RIPE for
trouble.
4 pessimist is a person who
looks both ways before crossing
a one-way street Then there
were the two RED CoRPUsCLEs
who loved in VEIN.
4 housewife found a dime in
side Of chicken she was clean
ing. E. Which just goes to show
that even hens think dime is
CHICKEN FEED these days.
That's enough out of you"
Arkansas State press. [volume] (Little Rock, Ark.) 1941-1959, 1959-10-16

tween the races has resulted
in unexpected Improvement.
The elimination of the Jim
Grow signs on the Greyhound
bus terminal may be an in
direct result of the demon
stration of power staged by
Negro voters in that municipal
election. In any event, the
signs are down, and it's some
thing for Memphis!
DAILY Defender
Arkansas State press. [volume] (Little Rock, Ark.) 1941-1959, 1959-10-16

practice ordinance in 1850 and
the state law this year. It's
work here merits the support
of good citizens
Cleveland (Ohio). News
Arkansas State press. [volume] (Little Rock, Ark.) 1941-1959, 1959-10-16

said the surgeon
as he sewed up
IFS patient
Then there is
The tale of the
swo bees who got
married and had
a little BUM
BILE from hea-
ven.
Nov, Willie, y
coaxed the mo
Their, say Ahhh
like a good little
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-07-05

on the distressed list have been
and still are, automobile and
even aircraft production cities
Let's face it. If an upsurge
IA months old and of this
strength still leaves us with SC
many valleys of trouble, there
is little chance that anything
short of a great boom will erase
them.
Let's face this too. Many Of
the jobleSs in these areas are
too old or too set in their ways
to move to booming regions
Large numbers don't have the
skills and aren't now capable
of learning the skills other
regions are demanding. Most
don't have the money to finance
a move even if they dared try
it.
Cities Can't Fill Gaps
The cities of the most pro-
longed and worst distress
simply haven't had and don't
have the capacity to fill the
gaps created in their economic
structures by the decline OF
what were once basic industries,
the migration of major corpo-
rationS.
So finally, let's face the one
decent anSwer-a program OF
technical assistance, loans ard
grants under which the Federal
Government can help States
and localities redevelop the
distressed regions.
The Senate already has passed
an area redevelopment bill
which would provide a few
millions and the organization
for this aid. The bill is making
its way at molasSes speed
through the House Rules Com
mittee. But just as the Presi-
dent vetoed an area redevelop-
ment bill last year because 1t
gave more than he requested,
so he is likely to veto a bill this
year-unless there is agree
ment in advance on details.
The legislation should be put
on the books without delay. 1t
will be a black mark against
all of us If we permit our Gov
eminent again to default on
our responsibilities to aid our
blighted areas.
distributed 1859, by The Hall
Syndicate, Inc. AL Rights Reservedl
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-07-05
Stocks Make
Huge Gains;
Hit New High
BY ED MORSE
Associated Press Financial Writer

NEW YORK. July 4.-The
first half Of 1859 brought fur
ther huge gains to a stock
market which ended 1858 at
historically high levels.
Business doomed. The fear
Of imitation continued. Earn
ings and dividends rose and
the prospects were for even
better earnings and dividends.
Stock market prices reflected
all this and anticipated things
to come. The rise stalled now
and then for q correction but
the major trend continued up
ward.
The overall market as repre-
sented by the Associated Press
average Of 60 stocks ended the
half year at $22S.10, somewhat
below the record of $23O.30 set
on May 20. The first two trad
ing days Of July, however, save
q humping confirmation of
the traditional summer rally
brokers were talking about.
An estimated $23.418,000, 900
was added to the quoted value
OF stocks listed on the New
York Stock Exchange during
the first six months Of the year
plus the first two trading days
Of July.
Stock trading in the first
half Of 1859 scared to 442.-
70S,739 shares, the third
highest in the history of the
New York Stock Exchange. It
compared with 297,846,276 for
the first half of 1858.
The five most active issues
this week on the New York
Stock Exchange were:
American Motors, up lA at
44A on 211.900 shares; Glen
Alden up 27s at 20H; General
Motors, UP 2l4 at 53I4; Bethle-
hem. up 8 at So: and Outboard
Marine up 4 at 36zs.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-07-05
DIVIDENDS

iS$S 1 iSSs 1iSS$5 ilSS$$$ lS$a l loo
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-07-05
BUSINESS
BRIEFS

Continental Oil Co. plans to
install a $3-million, 1000
barrel-a-day catalytic reform
ing unit at its Lake Charles,
La, refinery to produce higher
octane gasolines for expected
higher compression engines.
R0bertshaw-Fult0n Controls
Co. and several Brazilian COM
panies have formed a subsidi-
airy at Sac Paulo, Brazil, to
provide Brazil's increasing
number Of appliance buyers
with precision controls.
Railway Express Agency, Inc,
directors have Endorsed a re-
organization plan which would
allow the agency more freedom
in routing its small package
shipments and to earn and re-
tain profits for the first time.
Automatic Canteen Co. Of
America has made an agree
ment under which the Hawker-
Siddeley Group. Britain's big
planes and cars combine, will
make and market automatic
vending machines similar to
those produced in the United
States.
Montgomery Ward & Co.,
Spiegel, and Aldens, Inc, said
they have maintained prices at
old levels in their new fall and
winter mail-order catalogues.
Montgomery Wards book is the
largest in IL years, Spiegel's is
slightly larger than a year ago,
and Aldens' is the largest ever
issued by that company.
Consumer Buying last week
dipped a bit below that Of the
previous week but total dollar
volume Of retail trade was 8
to Z per cent above a year ago.
Dun & Bradstreet, Inc.
Finished Steel Shipments in
May totaled a record 8,754,119
net tons VS.. 4,649,499 net tons
in May. 1858, and about 10000
tons above the former record
set in April Of this year.
American Iron and Steel In
stitute.
The First National City Bank
Of New York and the affiliated
First National City Trust Co. in
the six months ended June 80
earned $31 ,667, 900, or $2.64 a
share, VS.. $29. 1885, 900, or $2.49
a share in the 1858 period.
Loans Of the bank alone
reached a new high of $4,078,-
600, 900 on June 80 VS.. 1885,
600, 900 a year earlier.
The Hanover Bank OF New
York in the six months ended
June 80 earned $7,332,348, or
$1.83 a share, VS.. $7,067, 256, or
SLIT a share, in the 1858 Pc
Rod.
Marine Midland Trust Co. of
New York in the six months
ended June 80 earned $2,759,-
GIT, or 1921 a share, VS.. $2,451,-
345, or $l.96 a share, in the
1858 period.
United States Trust Co. of
New York in the six months
ended June 80 earned $1,502,-
954. or 1901 a share, VS.. $1,4O4,-
SCI, or 1921 a share, in the
1858 period.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-07-05

OF Seat Pleasant in the State Of Maryland the close Of
business on June 10, 1859 State Bank No. e5-2l7
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-07-05
YOUR
MONEYS WORTH
Pools of JobIess Remain
" SYLVIA PORTER

At this moment of high and
rising prosperity almost IL per
cent of all those able and will
ing to work are still jobless in
179 areas spread across 29
States in our land.
There is no question whatso-
ever about the power and
breadth Of today's business up
swing, no doubt that our econ
omy is surging to. new heights.
Yet, while the rebound from
the 1888 recession has
slashed average unemployment
in the United States to under
5 per cent Of our work force,
the bitter facts are:
/. The boom has hardly
touched the pockets of jobless-
ness in cities hit by major in
duStrial upheavals or migra-
lions in recent years.
2. A full one-third of this
nations unemployed men and
women are concentrated in
these ITO chemically depressed
areas.
3. Many Of these cities were
hit by about depression long
before the general economic
downturn Of 1888, and the
nationwide recession made an
already bad situation worse.
4. AS an indication of the
chronic nature of the unem-
ployment, the area with 2S.1
per cent of its workers jobless
in May. the highest unemploy-
ment rate in the Countrywide
deford-Sanford in Maine-has
been on the Governments Of
fetal labor surplus" list since
1854. In Providence, r. l., un-
employment in May topped II
per cent. and this major city
has been on the sick list since
1851. In Atlantic City, N. j.,
unemployment exceeded is per
cent, and this world-famous
resort city has been in trouble
since 1852. So it goes -.
No FIy-by-Nigh Towns
These are not ghost towns.
These are not f1y-by-night COM |
munities dying because of the |
or greed or laziness
of their own citizens.
Rather these are communities
with proud histories, well-built
schools, established road and
water systems, all essential ia
cilitieS.
These are cities which &C
tually are suffering from prog
ress" itSelf-changes in tech
nology within the Nation,
switches in production from the
Did to the new, development of
new methods Of operation, new
processes. And while dotting
The unemployment map are
;enters Of coal mining, textile
and metal manufacturing, also
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-07-05

Rates Of dividends In the foregoing
table are annual disbursements based on
the. last quarterly or semi-annual decia.
ration. Unless otherwise noted, special
or extra dividends are not included.
plus stock dividend. d Declared OF paid
in 1853 plus stock dividend. Paid last
year. Payable in stock DURING Io59,
estimated cash. ylue on ex-dividend on
redistribution date. g Declared or paid
after stock dividend or spiitup. k HD6.1
S Glare OF paid this year, an accumula-
= rlY S., ISSUE ,S;. with dividends IN arrears.
TERED or no action taken at last dividend
meeting. Declared or paid in 1858 plus
stock dividend. PAYABLE IN stock during
1893, estimated cash value, on ex-dividend
81 ex-distribution date. y Liquidating div.
'olst1bution. xr Elk rights. XIV Without war.
rants. WV With warrants. wd When dis.
trlnuted. wi When issued. nd Next day
oehyeIy. In bankruptcy or receiVership
or oemg reorganized under the Bank.
such companies,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-07-05
REPORT OF CONDITION OF THE
BANK OF MARYLAND

OF Seat Pleasant in the State Of Maryland the close Of
business on June 10, 1889 State Bank No. 65.2iT
ASSETS ..,-
Cash, balances with other banks including re- -.
serve balances and cash items in process 81,
United States Government obligations, direct -,s-
Obligations Of States and political subdivisions SsS77is
Other bonds notes. and debentures 2199625O0
Loans and discounts dncluding $36975 over Q.
|. drafts sssO7ssss
fixtures $15212292 SOL 25OS<
Real estate owned other than bank premises i3sss0s
Investments and other assets indirectly repre- 49,.
o0. sen s:t. bank premises or other real
TOTAL ASSETS ---------------------- s22 .39l4O
LIABILITIES
Demand deposits Of individuals partnerships -@
and corporations -,-------, $1O,7ss75zss
corporations sssss52sS
ing postal savings ----------------- 1l57ssss2
Deposits Of States and political subdivisions 7s37O4l4
other deposits (certned and officers checks
etc. ;,.==.,..-.------------- 217s7ss4
Other liabilities 24nZ7s
TOTAL LIABILITIES ---- S2i675757iS
Capitals ----------------------- s5oooood .
Surplus ------------------------- 450O0oOO
Undivided profits l758ssas
capitaD -. -, $500 1s1,7nOo
TOTAL CAPITAL ACCOUNTS l.l076342s;
TOTAL LIABILITIES AND CAPITAL,
ACCOUNTS - $500 s227ss ,ss1Ae
This banks capital consists of common stock -
with total par value of $35000oO0 :
MEMORANDA -.
Assets pledged assigned to secure liabilities
and for other purposes --------------- $3s13s51I1
Loans as shown above after deduction Of
reserves Of ------------------ slsOsos
l. MARGARET s. DWYER, Cashier Of the above-narned
bank do somny that the statement true and
that fully and correctly the true Of the
several matters herein and set forth to the best Of
my knowledge and belief
MARGARET s. DWYER, Cashier.
State of Maryland, County of Prince Georges IS:
Sworn to and subscribed before me this oath day Of
June 1859, and hereby certify that not an officer or
director of this bank.
(Sea0 MARGARET BLAND Notary Public
My commission expires May !, 1861
Correct-Attest
JAMES P. CAsBAR1AN, WALTER L. GREEN
LEO j. NAUGHTON, Directors
The journal. (Caldwell, Ohio) 1934-1961, 1959-12-03
Chester Hayes,
Sunoco Dealer,
HasAnniver5ary

Chester Hayes will celebrate
his 25th anniversary with the
Blue Sunoco people on Dec. s..
He started with the Sunoco COM
pany in 1884. His station, which
is located on West street, was
in the same location then as it
is today with two exceptions.
In 1888 he added an addition
to the north side of his station
and in 1916 another addition was
added to the south side.
Mr.. Hayes plans no elaborate
celebration for this anniversary.
According to Chester, Its just
another day. He would like to
take this means of thanking all
of his customer for their loyal
patronage through the past Is
years and he hopes to be with
them for another 25 years.
A brother, Richard Hayes was
associated in the business with
him from 1916 to 1855. He now
owns and operates an I.G.A. store
in Arcanum.