davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-01

a. IN many instances, as
previous questions 1t would.
However, II you enroll in q plan
the total monthly cost Of which
is more than twice the specified
Government contribution-that
is, II the charge for the plan
is more than, say, $3.50 for a
self-only enrolment or $3.50
for a family enrolment, then
the Government will still make
its specified contribution and
you will pay the difference. For
example: II you enroll for your
self and family In a plan the
total cost Of which is SIS a
month. the Government would
make its specified contribution
Of $6.75 and you would con-
tribute $8.25; If you enroll for
yourself only In q s. a month
plan, the Government would
contribute $3.50 and you would
contribute $500.
@. How much viii the Gov
eminent contribute for a fe-
male employee?
A. The Governments contri-
button for a female employee will
be on exactly the same basis
as for a male employee under
the following conditions:
II she enrolls for herself only.
If she enrolls for herself and
family and the family does not
include a husband or does in
clude q dependent husband.
@. How much will the Gov
eminent contribute for a fe-
male employe under a family
enrolment which includes a
husband who is not dependent?
A. In such a case the Gov
eminent will contribute not less
than $500 a month If the total
charge for the family enroll
ment is $3.50 or more a month.
The employe will contribute the
difference between the $3.50
and the total charge.
If the femal employe enrolls
in q plan the total charge for
which is less than $3.50 a
month for the family enroll
ment, the Government will
contribute 80 per cent of the
charge and the employee will
contribute 10 per cent.
Payroll Deductions
@. How will I contribute my
share Of the cost?
A. Through payroll deduc-
tons. Depending on how often
you are paid, the proper per-
centage of the monthly charge
will be withheld from your SAL
airy each pay period.
@. Is there any guarantee
that the cost of the plan in
which I enroll will not in
crease?
A. No. Eventually the cost
may increase because the plan
may provide additional bene-
fits or because the cost of pay
ing for hospital and medical
care may go up.
@. Is there any maximum
limit on the amount the Gov.
etntnent can contribute?
81. Yes. The approximate
nfa&imum monthly amounts the
Government can contribute are:
SS95 for self-only enrolment;
SoS5 for q family enrolment;
$3.50 for a family enrolment
vtt1ich includes a nondependent
husband.
However. it is expected that
t1ese limits will have no effect
on. the Governments contribu-
Non for a number of years and
then only if the cost Of a plan
Keeps going up to the point
=
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-01

where the Governments con-
tribution reaches these limits.
After Retirement
@. win ! be able to continue
my health benefit coverage after
| ! retire?
A. Yes. If you meet certain
requirements.
@. What are the requirements
I must meet?
A. There are i've require
ments, all Of which you must
meet. They are as follows:
/. You must retire under the
Civil Service Retirement System
or some other system for ci-
william employees Of the Federal
or District Of Columbia Govern
ment.
2. You must retire after the
date the health benefits pro-
gram became effective in your
employing office -that is. after
the first day Of your first pay
period which began on or after
July l. 1860.
8. When you retire, you must
have been enrolled in an APP
proved plan for at least the
shorter of the following two
periods of time: (a) the five
years Of service Immediately be-
fore your retirement. or (b) all
your service between the time
you first had the opportunity
to enroll and the time you re-
tire.
4. You must retire after at
least IL years of service or on
account of disability. (The IL
years Of service can include
military service, but mist in
clude at least 5 years of civilian
service.)
5. You must retire on an
immediate annuity - that is,
the beginning date of your
annuity must be not later than
one month after your separa-
ton from service.
@. If I should die, would my
wife Cor husband) and chill
dren be able to continue the
health benefits coverage?
A. Yes, if they meet certain
requirements.
@. What are the require
ments they must meet?
Two Requirements
A. There are two require
ments:
/. At the time of death, you
must have been enrolled for
yourself and family and have
completed 5 years of civilian
SERVICE
2. Your wife Cor husband)
and children must be eligible
to receive a survivor annuity
from your retirement system.
@. If an employee - or sur
vivor- annuitant continues the
health benefits coverage, does
he have to pay for it,
Al. Yes. However. he does not
have to pay more than an en-
ployee who is enrolled in the
same plan,
@. Will the Government con-
tribute to the cost OF an an
nuitant's enrolment?
A. Yes-on the same basis
as to an employees.
@. How will an annuitant
pay his portion of the enroll
ment cost?
A. It will be withheld from
his monthly annuity.
@. VIII an annuitant be
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-01
Segni, Herter Plan
Further Arms Talks

A principal purpose Of Mr.,
Segni's visit was to get Mr.. Eli
senhower's report on the Khru-
shchev meeting.
Mr.. Segni declined to spell
out any Of Mr.. Eisenhower's re-
port on the Khrushchev talks.
But, with obvious satisfaction.
he said Mr.. Eisenhower's ac-
count was very useful and
very satisfactory" the Asso-
ciated Press reported.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-01

Premier Antonio Segini of
Italy conferred for more than
two hours with Secretary of
State Herter at the State De-
partment today.
They had a full. frank,
cordial exchange Of views on a
Mrs. sesni to Get Toste Of America.
Poee B-6
great variety of topics" State
Department Press Officer
Lincoln White told reporters
later.
There Is to be another round
of discussions tomorrow. Mr..
White said.
Inclusion of Defense Depart
ment and disarmament experts
indicated that this mornings
talks covered military prob
lens, probably including the
plans for supplying italy with
American MISUNDERSTANDING
ballistic missiles.
Premier Segni was accom-
panied by Italian Foreign Min
lister Giuseppe Pella. his AM
bassador, Manilo Brosio. and
other ofIicials from the Italian
foreign Office.
with Secretary Herter were
Undersecretaries C. Douglas
Dillon and Robert Murphy,
James d. Zellerbach, United
States Ambassador to Italy.
Assistant Secretary Of Defense
John Irwin. disarmament ex-
pert Philip Farley, and spe-
cialists in West European af-
fairs.
Mr.. Segni yesterday got a
first-hand report from Presi-
dent Eisenhower on his cold
war talks with Soviet Premier
Khrushchev and promptly
agreed with the President that
the discussions were useful in
the cause of world peace.
In q Joint statement after a
three-hour conference, Mr..
Segni and Mr.. Eisenhower said
"All possible efforts should con-
tinue to be made to achieve a
reduction of arm a m e mt S
throughout the world"-with
adequate controls and safe
guards.
Mr.. Eisenhower and Mr.. Seq
nj agreed "the present internal
tional situation does not yet
permit relaxation in Western
defense efforts.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-01
THE FEDERAL SPOTLIGHT
Health Law Premiums
Given in DetoiI
BY JOSEPH YOUNG
Star stan Writer

The Civil Service Commission today continues its
to the frequently questions regarding the Govern
ment's health insurance program.
@ Would the Government always contribute one-haf the
cost of the plan?
A. In many instances as in the examples in the two
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-01

For high and low tides &C The fol-
lowing points subtract times indicated
Annapolis, ! hours: Bloody Point
Light, hours; Colonial Beach, 69z
hours: Deale, 3 hours: Solomons Is
land, 5 hours; Point Lookout, hours
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-01

Rain expected tonight England from
the Middle and Lower Mississippi Valley through Plains
in Utah and Arizona Some snow forecast Wyoming Colorado and
cloudy skies will be England and the Middle Atlantic
States South Carolina the Southern
photo Map =
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
Suburban Trust
Plans 18Th Unit
In Keni|Worth

Suburban Trust Co. will open
its 18th office in the Kenil-
worth section of Bladensburg,
Nd, 1t was announced today
by Board Chairman T. How
ard Duckett and President j.
Robert Sherwood.
Construction Of the new
Kenilworth office has started
at the corner of Lawrence
street and Kenilworth avenue
and will be opened on or about
January /.
1t will serve a rapidly grow
ing industrial section, which is
expected to become one of the
outstanding developments Of
its kind in the Metropolitan
Area in the next few years.
Three-drive-in windows and a
walk-up window will be among
special features. Ample interior
facilities also have been
planned. The Office will have
extended banking hours for
business customers to facilitate
handling of deposits, payrolls
and other financial require
mentS.
Suburban Trust is Maryland's
largest bank outside Of Balti-
more and ranks fourth among
Washington area banks, in
GLIDING downtown.
Its growth has been remark
able in recent years. Deposits
totaled $40, 860,842 on Septem-
Der 80, compared with $129,-
988.150 at the end of 1858.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
CHICAGO
LIVESTOCK

CHICAGO. oct. (AP). (UsDA).-
Hogs 5000: slow. steady to Is lower
on butchers, most decline on 1-2
Grades under 230 lbs; sows steady;
20O-250 ID butchers comprised bulk;
2-3 mixed grade and mixed grade Is.
2s and IS ,2O0-230 ID butchers along
VIZ Slth IN mixed sraSe % ,.t and g SS0-
ar and Srf mikes f'fra aHRaIsS Il: and
26O lbs l2.s5-l3 3: 90, twenty mine head
10 lot t.. sorted ted Is 210 lbs IS;1o: and .
lS0-195 lbs I2.0O-12.75. mostly 1925
and above; q short deck 20 around
900 u butchers 100: and a short
s sfsd. IS GROUND gb aSS TBS soSs mssd
is.S5: mixed srade % 40o-5@5 lbs
around 400 lbs 1i.5O.
Cattle s,a 500 S.. calves :,d I0o T. slaughter Hs.E
the. weeks full decline; cows fairly
active, fully steady: bulls and vealers
steady to weak; .stockers and feeders
slow. load of high choice 1.20O ID
sssF hort Gsd s fsS s aaS 9S
and GOOD r? sa.oO-.4 80; few GOOD to
high choice heifers 23.00-25.75: two
loads mixed good and choice s75. lbs
q 90: a few utility and standard
cows 14.25-1S.0O: Gamers and cutters
IL. 00-15 .5O;, q few light Gamers down
to II 90: utility and commercial bulls
1S.50-21 90; standard and good vealers
25.00-30.0O; Gull and utility 1900
"a 90.
Sheep, 1000: moderately active.
slaughter lambs steady to so higher;
SLAUGHTER ewes steady; good and choice
S0-l05 10 wooled slaughter lambs
1880; culls down to 1000; Gull to
choice SLAUGHTER ewes 3.00-4 so.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
Court Clears
Association
Merger Path

The Circuit Court for Mont
gomery County has handed
down a decision which will
enable the Montgomery Mutual
Building and Loan Association
to proceed with a proposal to
transfer all its assets to the
Citizens Building and Loan
Association Of Silver Spring,
Md.
The court dissolved an In
junction standing in the way
Of action on the proposal and
Curtis S. Feeser, president Of
Montgomery Mutual, announced
today that directors now
will reconvene an adjourned
shareholders meeting to vote
on the transfer. 1t is hoped the
meeting can be scheduled before
the end Of this month.
Under the proposal, Mont
gomery Mutual will continue to
operate at its present location
in the McKeefer Building in
Kensington, Md, as a branch of
Citizens Building.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
Bank Loans
In New York

NEW YORK. Oct. 8 (AP)-
The average rate Of interest
charged by large New York
City banks on loans to bust
ness rose to 500 per cent in
the first half of September
from 4.63 per cent in the first
half Of June. the Federal
Reserve Bank of New York
said yesterday in a regular
quarterly report.
The boost on both long and
short term credits stemmed
from an increase from AZ to
5 per cent in the commercial
banks prime rate. The prime
rate is the charge to the biggest
and best customers with the
top credit ratings.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08

types Of institutional investors
are the commercial banks.
which in their personal trust
accounts hold $3l billion Of
common stocks.
How They Operate
What sort Of operators in the
stock market are these?
They are typically buyers for
the long term. choosing stocks
that they expect viii grow in
value as the Nation grows.
They are typically indifferent
to temporary price fluctuations
and are not under pressure to
sell In any particular market.
They are typically holders Of
securities representing corpo-
rations which have proved their
worth.
They are typically contin-
uous buyers, investing funds
as they receive them. and buy
ing securities both during price
rises and declines.
What, then, does this deyel-
opment imply?
1t suggests that a new, profess
sional force has entered the
stock market since 1929 which
should help stabilize prices.
During last months stock price
break, for instance, many mu-
tual funds went on q buying
spree.
1t suggests that the individual
is being replaced in many in
stances by the institution, and
this, too, should be a force for
stability, since the institutional
investor buying for a 1920 year
pull presumably will be less
volatile than the individual
buying for a one-two year pull.
It implies that this is, in
fact, a new era" stock market.
Sunday, distinction No. 5:
Rhythm Of Buying.
distributed 1859 BY the Hall
Syndicate, Inc. All Rights Reserved. J
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
RAMBLER AMERICAN 4-DOOR SEDAN
County Federal
Adopts 4A Pct.
Dividend Rate

Directors Of County Federal
Savings and Loan Association
at Rockville, Nd, yesterday
approved an increase in quar-
terly dividends to an annual
basis Of ~ per cent, starting
with the final three months OF
1859, it was announced today
by Lewis r.. Roberts. manager
and executive secretary.
The association paid at q rate
of 4 per cent per annum pre-
viously.
Assets reached q new high
of $5,656,000 on September 80
a gain Of more than $1.6 mil
lion from $4.031,000 at the
beginning Of this year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08

National Capital to lend up to
rs per cent of the valuation of
covered property. 1t was signed
by President Eisenhower on
September 81.
Previously the limit on Dis
trict companies was TIA per
cent, while those domiciled in
New York and other jurisdic-
lions have had a limit of rs per
cent on residential property.
The new law will affect con-
ventional home financing main
ly because more liberal Nation
wide limits have been fixed
previously for FILA and VA
mortgages under separate leg
islation.
known as Public Law 86-329,
the District statute applies to
all property, including COM
mercial and industrial as well
as residential, but the insur-
ance companies do not intend
to take advantage of its more
liberal provisions except in sin
gle-family conventional loans.
Apartment financing terms will
not be changed, although they
could be under the law.
Companies Backed Change
A few of the larger District
companies. headed by Acacia
Mutual, co-operated with in
surance Supt. Albert Jordan
in supporting passage Of the
new law. Equitable Life, Peo-
pies Life and Government
Insurance also were active.
The local companies limited
to'71.4 per cent mortgages have
been at a disadvantage espe-
cially in higher-priced and bet
ter-located homes. Outside
companies had the inside track
on this type of business because
they could offer more liberal
terms.
The higher mortgage limit
for District companies is dis
cretionary and will not be ap-
piled to all conventional home
financing, company officials
emphasized, however. Quality
Of security, stability Of the Dor
rover, the borrowers equity
and location of the property all
will be considered.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
Washington Firm Buys
Staten Island Interest

Investor Service, Inc, WASH
ington real estate syndicators,
today announced the purchase
Of a so per cent interest in the
70-acre Empire State Industrial
Park on Staten Island. N. Y.
for a reported price Of more
than 81 million.
Samuel j. Gorlitz, president
of the firm at 1923 Jefferson
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
YOUR
MONEYS WORTH
To2o-7o5o'-N
~ SYLVIA PORTER

On this day. in october oil
1929 there were no giant cor.
poration pension funds in Wall
Street buying stocks for income
and profit. For. odd as 1t may
seem to the millions Of younger
Americans who think we've
always had pensions to protect
us in our older years, as q
practical matter there were nc
pension funds in our land as
recently as 1929.
Now, though, corporation
pension funds alone hold more
than so billion Of stocks listed
on the New York Stock Ex-
change. In the last decade. pen
sion funds have increased their
ownership Of stocks Ito per
cent!
On this day 80 years ago
there were no mutual funds
in Wall Street investing the
savings of millions Of us in
long lists Of stocks. The invest
ment company movement had
been born, but it was an infant,
and 1t was to be all but de-
stroyed in the stock market
collapse Of 1882.
Now, mutual funds alone hold
sos billion Of stocks listed on
the big board in New York
$40 per cent more than they
owned a decade ago. Oother in
vestment companies hold an
other $4.4 billion.
On this. day in the blacklist
month of Wall Streets long
history it was the individual
who overwhelmingly dominated
the stock market.
This is no longer true.
Impact Of Institutions
A great and growing force in
the stock market is the insti-
tutional investor-the pension
fund, the mutual fund, the saw
ings institution, the life insur-
ance company, the personal
trust fund, the foundation.
Here is another Of the fun
damental distinctions between
the markets Of 1929 and 1859
And, although no one can yet
grasp the full significance oil
this development, we know II
is Of towering Importance.
on an average day institu-
tional investors now account
for one-quarter Of all trading
on the New York exchange
Last year institutional investors
bought So billion more in stock
than they sold.
Right now institutional in.
vestors hold $45 billion, or l6.;
per cent, Of the $276 billion OF
stocks listed on the Big Board
Just pension funds and invest
ment companies own 8.6 pei
cent.
And dwarfing even these
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
CPCU Designations Won
BY Five d. C. Agents

District Chapter, Society Of
Chartered Property and Casu-
atty Underwriters, has awarded
the coveted designation Of
CPCU to five District agents,
who have completed five years
of studies and examinations.
Awards will be given at a
Standardization luncheon on
October 10 to the following:
Theodore S. Orme; George C.
Byrne, American international;
Allison Reese, Aetna Casualty;
Morris w. Wells, Mutual In
surance Agency, and Joseph L.
Pierce of John r. Pinckett, Inc.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
September Auto Sales
Well Above Year Ago

September sales of new au-
tomobiles in the District of
Columbia totaled 1850, a gain
of "a per cent from 1889 in
September last year.
For nine months, the total
was 18,407, an increase Of
around "a per cent from 1883
a year earlier.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
Bank Loans, Deposits
Of Slightly in Week

Outstanding loans and de-
posts Of Washington's three
largest banks were off slightly
in the week ended September 80,
the Richmond bank also dis
closed in its weekly report.
Gross loans of Riggs, Amer
lean Security and National
Bank of Washington aggregated
$500. 481 900, compared with
$500, 538. 900 a week earlier and
$505. 1893, 900 on last July 8 when
the new statistical series began.
Deposits of $1,078.743.000 on
September 80 were behind ST.
089, 756,000 a week earlier and
81 ,086, 422, 900 in July.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
Guaranty Life Admitted
To Business in Virginia

Guaranty Life Insurance Co,
of America, a Washington
company, has been admitted to
do business in Virginia, Presi-
dent Harry Merkin announced
The new company has been
writing life Insurance in the
District of Columbia since last
August. Livingston Gerhart has
been named general agent.
Henry C.. Amole, jr., for
merly with the Maryland Life
Insurance Co. for 30 years, has
been named assistant treasurer,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
14.7 MiIIion-BuIe
Cotton Crop Seen
BY the Associated Press

The Agriculture Department
today estimated the 1859 cot
ton crop at 14,692.000 bales of
500 pounds gross weight.
This estimate is $4,000 bales
more than the l4.678,000 bales
forecast a month ago. Also it
is well above the comparatively
small crop last year of 11,5l2,-
600. The 10-year (1948-5D av-
erage is 14.046,000.
In addition, the 1859 crop
will be supplemented by a re-
serve and surplus supply of
about 8.6 million bales as the
result Of past crops.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
METAL PRICES

NEW YORK. Oct. 8 (AP).-spot
nonferrous metal prices today: Copper
30-33 cents a pound. Connecticut VAL
ley. Lead Is cents q pound, New York.
Zinc IL cents pound. East st. Louis.
ean silver oi cent: psT troy ounce
New York
Pittsburgh scrap steel No. 1 heavy
was Qutoed by Iron Age ct 1900
40. 90.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
Tony Pritchard to Speak
Before Store Controllers

Tony Pritchard, executive
vice president of the Merchants
and Manufacturers Association,
will address the National Capt.
tai Group of Controllers at a
dinner meeting at the Wash
ington Hotel on Tuesday, Octo-
Der 10.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
'9 n BUSINESS
DC. Insurance Firms
Can Compete Better
BY DONALD b. HADLEY
star Financial Editor

Life insurance companies of the District will be able to ofier
more liberal home financing and enter segment Of
mortgage market from which they have been barred for
the most part
Many millions of dollars of mortgage business will be az
ected by new law permits companies domicled in the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
TREASURY BONDS

NEW YORK, Oct. 8 CAP).-Yesterday s
closing over.the-counter United States
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
OVER COUNTER

counter markets furnished by the Ma
tional Association Of Securities Dealers
as of Thursdav OctobeF 81.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08
National Airlines Nets
S2,379,12S for Year
Drug Fair Sales Climb
81 Pet. Above 1858 s

National Airlines had a net
profit of $2,379,128 after taxes
and depreciation for its fiscal
year ended June 80, President
G. T. Baker announced in the
annual report to stockholders
today.
The profit contrasted with a
net loss of $605,316 for the pre-
ceding fiscal year.
Record operating revenues Of
$70,863,750 were 31.5 per cent
above the previous year, with
passenger revenues accounting
for $64.4 million Of the total.
Operating expenses of SOS. 306.-
957 were up 1861 per cent from
the previous year.
Current assets and liabilities
totaled $14.434,739 and SILL
536,071, respectively. at the
years close, compared with
$12,260,814 and $ll,433,879 a
wear earlier.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-08

Prices quoted in dollars and thirty.
seconds.
Subject to Federal taxes but not to
State income taxes.