davidaulloa/AmericanStories huggingface dataset:
Evening star., 1960-10-20
TALKING OF BUSINESS
Privote and US. Agencies Find
School Loans Competition RISING

fense Education Act has come
into the picture, it's levelled
off,"
About 300 Of the students
have loans from Tuition Plan
this year. according to Father
Favret. roughly the same num-
Der as last year. In the mean
time the Federal program is
coming UP fast. There were
217 government loans to stu
dents last year, he notes, land
we know they win go over $50
this year."
At Georgetown University,
private lending institutions
furnished most Of 1,048 loans
to students this fall. But
Uncle Sam topped Tuition Plan,
1886 to 174. The remainder were
arranged with the Girard Trust
Corn Exchange Bank Of Phila-
delphia.
Rise In Cost Spurs Loans
The sharp rise in the cost Of
education, combined with a
food Of World War II babies
now at college age, have spurred
the whole lending idea. The
American Bankers Association
last August got out q special
bulletin warning local banks to
provide college financing "if this
country is to continue to en-
Joy the strength and prosperity
which are so dependent on ed
ucation."
An indication Of how eager
the students are to borrow
money in some colleges can be
seen at Howard University.
Howard has no arrangement
with commercial sources. and
whatever loans students obtain
Evening star., 1960-10-20
Grown Photo Group
Gets Job at Wards

U. s. Color Photo, which is
q syndicate Of several large
photo finishing companies
headed by Crown Photo, Inc,
of Washington and five other
regional professors. has been
named to handle photo finish
ing for the mail order operation
of Montgomery Ward & Co.
The appointment covers both
color and black and white
photo finishing, the announce
ment said. U. s. Color Photo
Is the largest independent proc
essor of Kodacolor film and is
one Of the Nations largest or
carnations in mail order photo
finishing.
Evening star., 1960-10-20
1OSforesOpen
h Springfield
Plaza Cenler

Twenty stores opened in the
new Springfield Plaza shopping
center in Springfield. Va, today,
marking another important
step in this rapidly growing
section.
Representative Joel T. Broy-
hill cut the symbolic ribbon at
the opening ceremonies, which
were attended by an impressive
group Of Federal, State and
county officials and community
and business leaders.
Large stores Of Kresge's. Peo-
pies Drug and Giant Food head
the list of new stores opened
today. Six establishments
opened earlier in the center
which is located on o 0O-acre
tract at Old Keene Mil and
Backlick Roads, just OF Shirley
highway.
The new Super Giant has
10000 square feet Of space and
the Kresge's store has $4,000
square feet. The Peoples Drug
has $4,000 square feet and q
Peoples Hardware unit has
$500 square feet.
Among the other stores OPEN
ing today were: Terry Shops,
womenS wear, Merit Shoes,
Springfield Jewellers. DR.. Bond
Optometrist. Highs Dairy,
Darby's Fabrics, Virginia ABc
Liquor Store. the House Of
Music.
Owners Of the big center are
GARFIELD, Inc. Of which Edward
r. Carr is president; Clarence
Dodge, jr., and Karl w. Corby.
Evening star., 1960-10-20
Sales Record Set
AT Washinqton Gas

Gas sales Of Washington Gas
Light Co. set new records in
both SeptemberN and the first
nine months of this year. COM
pany data disclosed today.
September sales Of 14,728,413
therms were up SIS per cent
from 13,962. .684 therms in Sep
tember last year.
Nine months sales aggregated
S56.093,917 therms, an in
crease Of 11.4 per cent from
3l9.790,s04 therms in the same
1853 period.
I The company had 394, ,347
meters in service on September
80. compared with 383. .20S
meters q year earlier.
Evening star., 1960-10-20
Douglas Loss
Is s$21 Million

SANTA MONICA, Calf, Oct.
20 (AP). - Douglas Aircraft
stockholders were notified of a
write-off of $30,519,0O0 in D-S
losses.
The write-off put the COM
pany $13,099. 900 in the red for
the three months ended Au-
gust 81.
The word went out in q mes
sage from Chairman Donald w.
Douglas and President Donald
w. Douglas. jr., directors acted
on the write-off.
The decision pegged loss for
the first nine months at $21,-
1858, ,045. or $5.73 a share, COM
pared with loss of $25, ,704, ,958,
or $6.73 a share. in the like
1859 period.
Evening star., 1960-10-20
PEOPLE
IN
BUSINESS

Clark Gearhart, inspector OF
agencies in the Washington
Office New York Life Insurance
Co.. will celebrate his 30th an
niversary with the company to-
morrow an dcompany officials
fro mNew York will attend an
anniversary luncheon.
Robert G. Lauck, formerly
with Navy Department, has
been named legal counsel for
Remington Rand UAivac Mill
tary Division here. a
Rear Admiral Sherman E.
Burroughs, jr., USN retired,
has been elected vice president
military relation for the Libar-
scope Division Of General
Precision, Inc.
George VOigt has been ap-
pointed director Of government
relations for military products
of Zenith Radio Corp.
Joseph r. Keefe has been
named a representative of the
Barrett -McElfresh Agency OF
Connecticut Mutual Life Insur-
|ance Co. in Washington.
Capt. James B. Denton, USN
(retired) has been appointed
director of product planning
and development for ServonicS,
Inc.
Harold p. Weinberg of Silver
Spring, has become chief ma
terials engineer for Value Engi-
neering Co. of Alexandria, Va.
Murray Levy has been named
manager of the cameras de-
partment in the new G. E. M
store in Hyattsville, Md. He
formerly was with Bremen
Photo.
Catherine Carroll has beer
appointed home counselor fol
Elite Services, Inc. laundry and
dry cleaning firm.
Otis J. Price, veteran driver
for Peoples Drug, received g
special award from johnson &
johnson for Is years of driving
without an accident.
Evening star., 1960-10-20
YOUR
MONEYS WORTH
Fashions in the White House
IY SYLVIA PORTER

bodies Of females In mass-pro-
duced pearls. prints. and perma-
nents?"
For the first time In genera
tions, young woman who viii
be a contemporary Of the mill
lions of American wives raising
young families will be in the
White House. For the first time
in recent history. she'll have the
figure and the flair for wearing
fashions with grace. This means
that the next First Lady win be
ideally suited to help United
States industries and trades,
which can stand plenty Of help
and which, incidentally, are
located in several Of our deeply
depressed areas.
This is hardly snall-time
stuff. According to Glamour's
research, the women's clothing
industry alone-dresses. coats,
suits, etc.-runs to $11 billion q
year. According to Lazare
Teper. research chief Of the
International Ladies Garment
Workers Union, If bags. shoes.
hosiery and the like are added,
the industry reaches SIS billion
q year.
! Million Involved
The number Of workers di-
rectly involved is conServatively
estimated at over / million. The
total would be swelled nightly
If it were possible to calculate
how many in the textile indus
tries are producing Just for the
women's apparel trades.
The millinery part Of the
business alone a m UNITS to
about $3.50 million a year and,
says Mrs. Casey, 'If the next
Presidents wife wears hats
well and becomingly, there
could be a millinery boom that
would put thousands Of crafts
men back to work all over the
country even in those eco
nomically depressed areas the
campaigners are talking about"
The proportion Of the wom-
ans spending dollar going to
clothing has been in a decline
for years and, emphasizes DR..
Teper, "A fashion boost from
the White House could be quite
important. We project the in
duStry at about $22.5 billion a
year by 1910. but it would be
great for countless numbers Of
businessmen and employees If
this level were reached earlier"
OF all women, the First Lady
should never dress down to suit
an imagined public taste nor
try to diminish her own fash
ion possibilities. OF all women,
she should dress up and, by so
doing, help businesses ranging
from buttons to ballgowns.
Distributed 1860 BY the Hall syndi-
cate, Inc. AL Rights ReServed.)
Evening star., 1960-10-20
NBW Promotes
Burrett, Expert
On Automution.

Richard D. Barrett, no has
specialized In automation Of
bank operations, has been pro-
NOTED to assistant vice presi-
dent Of the National Bank Of
Washington, 1t was announced
yesterday by President Barnum
L. Cotton.
Formerly an assistant cashier,
MIR. Barrett viii continue to de-
vote his time to the banks
automation program.
In recent months he has at
tended seminars in several cities
concerned with various phases
Of automation. He also has at
tended the American Institute
Of Banking and Georgetown
University Law School.
Evening star., 1960-10-20
CollifIower Promoted
At Bank Of Commerce

James z. ColIifiower. promi-
nent businessman and civic
leader. has been elected vice
president Of the Bank Of COM
merce, 1t was announced today
BY President Thomas ]. Groom.
Mr.. Colliflower fills the va
cancy created by the death Of
Joseph Sanders on August 20.
A major function Of this ONCE
is to preside at meetings Of the
board and executive committee
In the absence Of the president
or his inability to serve.
Mr.. Collifiower became a di-
rector Of the bank on Sep
tember "a. 1928. and. is the
Oldest board member in terms
Of service. He has been on the
executive committee for q
number Of years.
Mr.. Collihower is q vice
RASo&SACAAS Va Nj MISUNDERSTANDING
Co. and also Is q director Of
Potomac Electric Power Co.,
National Permanent Savings
and Loan Association and Aca-
cia Mutual Life Insurance Co.
He also is o member Of Acacia's
executive committee.
He is also a past president of
the Metropolitan Washington
Board Of Trade, the Merchants
and Manufacturers Association,
the Metropolitan Police Boys
Club and Merricx Boys Club.
He is q director Of the
Metropolitan Police Boys Club,
Friendly Sons of st. Patrick,
Catholic Charities and the
Catholic Youth Organization.
He is a past grand COM
mander Of the Order Of Alham-
bra. Knights Of Columbus, q
past grand knight Of Washing
Evening star., 1960-10-20
Tronsit Fore
Hearings
Recessed


Hearings on D. C. Transit
Systems requested fare in
crease have ben recessed in
definitely.
District Public Utilities Com
missioner Harold A. Kertz
announced late yesterday that
he win decide tomorrow when
the examination of the COM
pany's position will be re-
sumed. Still to testify are a
number Of citizen witnesses.
The company is asking an
increase from five tokens for
81 to four tokens for 95 cents.
Yesterday afternoons ses-
sion heard a discourse on the
troubles Of transit operation
throughout the United States.
The chief witness was Haw-
ley s. Simpson. a trafIic and
transportation engineer hired
by D. c. Transit. Mr.. Simp-
SON under cross-examination
that stuck by this original tes-
timony that the company
would lose some S million Gus
toners If the fare rise is
granted.
He said this was generally
the experience of any transit
company once fares have been
increased.
Mr.. Simpson also stated that
in his opinion the local transit
operation is one Of the best
managed in the United States.
Questions by George F. Dom
nella, counsel for the p. u. C.
indicated there was some doubt
in the minds of staff members
that the company would ex-
perience such a. heavy loss in
passengers if fares are in
creased.
Evening star., 1960-10-20
CHICAGO
LIVESTOCK

CHICAGO, oct. 20 (AP) CUsDA) -
HOGS 5000; active, butchers fully
shipping demand; mixed lots IL and
mixed 1-3 190-240 lbs 17.00-17.25 a
liberal showing at 17.25; mixed 2-3
and IS 200-270 lbs 16.75-17 90; load
IS around 800 lbs at 1850; mixed
grade 1-3 and mixed go 100000 ID
sows 14.00-l6.00; mixed grade 2-3
and 3s 40O-550 lbs l3.0O-14.25.
Cattle 500; calves none: slaughter
steers steady; heifers fully steady; cows
steady to weak; bulls and vealers and
stockers and feeders steady; few lots
choice steers 1850 lbs down 2375-
$500; several lots mixed good and
good steers S2:Oo.S3;50;, q few loads
Of high choice 300 lbs 24.25: good
heifers 21.OO-22.75; utility and stand
ard 15.00-20.75; utility and CONNER
cial cows 13.25-16.25; Gamers and
cutters, 11.00-14;00; utility and com:
mercial bulls 16.00-1S.50; good and
choice yealers 22.0O-26. 90; cul,s down
to 1900; a load Of good 500 lb feeder
steers zoo; q part load medium $50
lbs 1878.
Evening star., 1960-10-20
Small Business Needs
Will Be Discussed

Financing needs for small
business, in the Washington
Metropolitan Area will be dis
cussed by a panel at e. dinner
meeting Of the Greater Wash
ingtorl Industrial Council gat
the Sheraton Park Hotel on
wednesday, October 26.
Members Of the panel will
discuss three important types
of financing and will include:
James r Bridges. vice presi-
dent. Riggs National Bark;
Norman Farquhar, managing
partner. Washington office of
Alex Brown q Son; Donald
Christensen. vice president and
secretary. Greater washington
Industrial Investments. Inc.
Evening star., 1960-10-20
Bank Loans Decline
SIiohtIy in Week.

Loans of Washington's three
largest banks declined slightly
in the week ended October IL,
but remained well above a year
ago. the Federal Reserve Bank
Of Richmond revealed.
Gross loans of Riggs National,
American Security g. Trust
and National Bank Of WASH
ington aggregated $551,O7S. 900
Evening star., 1960-10-20
BY TRUMAN r. TEMPLE
star star Writer

Rivalry between government
and private enterprise-noth-
ing new to the Washington
scene-is gathering momentum
in q little-noticed area here
this fall: loans for Juniors col
lege education.
In a couple Of local univer-
.sities Uncle Sam Is effectively
carving out a slice Of the busi-
ness, helped by q bargain-base-
ment interest rate of 3 per cent.
The Federal aid-to-education
program is only two years old.
and the trend isn't felt at every
school. It's also obvious the
government will never "win"
the money lending contest: :
tougher rules on Federal loans
will keep the door open for
commercial money, and there's
also a big potential in private
elementary and secondary
school tuition where Federal
loans don't apply.
Federal Competition Due
Nevertheless, the banks and
finance companies viii have to
reckon with their Federal COM
petitor as the rush grows.
An example can be found at
Catholic University. For sew
eral years it has had an ar
rangement with Tuition Plan.
Inc, a subsidiary Of CIT.
Financial Corp. Tuition Plan
specializes in loans for college
students.
I'VE noted an increase in
use of the Plan until last
year." says Father j. Raymond
Favret, assistant procurator.
But since the National De-
Evening star., 1960-10-20

privately 60 unrecorded. But
it's participating in the Federal
program, and last year 1914 stu
dents received loans.
This year the word apparent
ly has gotten around.
1--WE have q tremendous num-
Der Of applicants" says Dr.. Max
Mennes. secretary Of the insti-
tution's scholarship committee
IT'S far more than we can ac-
cept, I'm sorry to say. We've
run out Of money" CBy law
every college is limited to $780,
900 worth Of Federal loans to
its students.)
There are some sharp diff
ferenceS between commercial
and Federal tuition loans. The
student has as long as 10 years
to repay the Government, anC
If he's totally disabled or dies
the whole thing is forgotten
If he becomes q teacher in a
public school after graduating
the Government "forgives" ur
to half his loan.
Commercial lenders gener-
ally require the loan to be paid
back within IL to 18 months
per academic year financed.
Their interest rates are higher.
There's no discount for becom-
ing a teacher.
On the other hand, they
don't ask questions about the
students grades. The Govern
ment does. and insists he be
NEEDY" and a full-time stu
dent.
Clear Field in Lower Schools
Finance companies and banks
have q clear field still with
private elementary and second.
airy schools, and they're work.
ing with a number Of. them ir
this area. Sidwell Friends
School last year approved the
Tuition Plan and lot of its
750 pupils are now signed UP
for these loans. Mount Vernon
Seminary has used the plan
about IL years.
The Landon School in Be-
thesda refers students to the
Potomac National Bank, and
about IS of its 500 students
use the bank each year to
finance tuition. The fee starts
at 4 per cent for one years
tuition ($925 to $1,125), &C
cording to the bank, and il
paid in eight installments. II
moves UP to 6 per cent for q
40-month repayment schedule
The bank has never had q
default on these loans.
No Arrangement
Not every local school has
enthusiastic response for Gov.
ernment and commercial loans
Neither American University
nor George Washington Uni.
versity, for example, has any
arrangement with a finance
company. AU permits hard
lpressed students to pay a third
of tuition in September and
the rest in inStallments directly
to the university. And last year,
only 50 out Of its 2,497 full
time students used Federal
loans. At CIV, which helps
some out Of its own loan fund,
only "a out of 1876 full-time
students have Government
loans this fall.
So far, the money-lenders
have also run into a stone wall
at the National Cathedral
School for Girls. Frankly,
don't like finance companies, y
says one official. NCS instead
lets parents spread tuition
costs over eight months with a
50 monthly carrying charge
collected by the school itself
I'VE feel there's a better
relationship with the parents
this way" the spokesman adds
Evening star., 1960-10-20
METALS

(Yesterday's QuOtatlOnsl
NEW YORK, Oct. 10 (AP).--Spot
metal prices today: Cop
per 80 cents q pound, Connecticut
yoFs yos zHc eco Is cents Ssn!s pouDS pSuf East Nsg s
Louis. Tin. S1.04M a pound, New
York. Foreign silver 919s cents per
troy ounce, New York. Pittsburgh
scrap steel No. heavy was quoted
oy Iron Age Et 29.00-30.00.
Evening star., 1960-10-20
Economists Elect

NEW YORK, Oct. 20 (AP).-
George C. Smith, vice president
and chief economist of the F..
w. Dodge Corp. yesterday was
elected president Of the Ma
tional Association Of Business
Economists at the groups an
nual meeting.
Evening star., 1960-10-20

On October u VS.. $553, ,8O4. .OOC
q week earlier and $514,699. .00a
on October II last year.
Deposits totaled $1,083, ,645,-
900. up moderately from 81
OIL ,828. 900 Q week earlier, but
behind 1908 ,565.00O on the
like 1859 date.
Investments amounted to
S76,254.000. compared with
$376, ,165, 1000 a week earlier and
$423, ,433, 900 a year ago. s
Evening star., 1960-10-20

A directive has gone out
from the State Department to
wives Of American diplomats in
Europe and othe foreign posts
telling the. ladies. "It's time to
change their STYLE" according
to the Insiders Newsletter.
Gist Of the message Is. "Glamor
is out; the cIothes-unconscious
intellectual looks In" and In
sider's quotes one personnel
chief at q major European post
as saying, "A wife as beautiful
as Jackie Kennedy is the prime
example Of what the State De-
partment doesn't want in a
wife. :"
A fashion fiareup between the
wives Of the Presidential candi-
dates that could have been quite
destructive was narrowly avert
ed q short time ago when
Mrs. Kennedy quipped in re.
sponse to a query whether she
spent $4,000 q year on clothes
Il couldn't spend that much
unless I wore sable underwear, :
and then Mrs. Nixon sensibly
refused to encourage question,
about how much she spent.
| The clear impression remains
though. that it is politically
bad" for a First-Lady-to-BG
to buy expensive designs, veal
high fashion clothes and lool
exquisite in them.
Promotion Suggested
what kind Of anti-American
anti-private enterprise, subver.
sive talk is this?" cry / in in.
dignation. Why hasn't oul
clothing industry-one Of oul
most important-gone aggres.
sively on the offensive to show
what q fashion conscious FRS
Lady could mean to jobs, pay.
checks, profits in millions o.
homes, factories and stores
Why suddenly Is it an asset fol
a representative of American
womanhood to look dowdy ant
a liability for her to symbolic
our styles and taste at thei
best? Why. as Mrs. Kathleen
Aston Casey. editor-in-chief o
Glamour Magazine, put it whel
we were discussing this tn
other day. should American
want to foster a return to thei
reputation for turning out mas
|
Evening star., 1960-10-20
MccuIIy Elected

MINNEAPOLIS, Oct. 20
(AP) Howard H. McCully,
Omaha. Nebr., yesterday was
named president of Allied Van
Lines. Inc. according to an an
nouncement here by Richard
Labelle, chairman of the board.
Evening star., 1960-10-20
Company Purchased

CHICAGO, Oct. 20 (AP).--
Eagle Lock Corp. purchased
Eagle Lock & Screw Co. for cash
and stock. The two firms are
in Terryville, Conn.
Evening star., 1960-10-20
Earnings

Caterpillar Tractor Co. in 8
months ended September 80
earned $50, ,757.517 or $1.1S q
share VS.. $43, ,299, 1872 or $1.57 IN
1859 period, =.
Federal Paper Board in SO
weeks ended September ~
earned $2,601 900 or $l.SS q
share VS.. 50, ,70s,O or $2.T2 IN
1859 period. -.
Arvida Corp. in year ended
July 81 earned $1,754.OOO VS..
s.. $50, 900 in 1853.
Delta Air Lines in 8 months
ended September 80 earned
S35l,6l1 or 81 cents a share VS..
S4l6,5S2 or 81 cents in 1853 Pc
rior.
other earnings included:
. Fer . Months Ended September 50
Evening star., 1960-10-20
First NotionoI Votes
Bonus and Pensions,
OHutt IS Choirlnon
by DONALD b. HADLEY
star Financial Editor

Directors Of the First National Bank yesterday authorized
broad new program Of epoye benefits along with the
well as president
Adoption Of pension and insurance nrogrsm for all EN-
Evening star., 1960-10-20
BUSINESS
BRIEFS

Bank CIearings In 26 leading
cities in the week ended October
10 $29.499. 100000 compared
with $22.l03. .563, 900 in the pre-
vious week and $27.9l5,345. 900
in the like week a year ago.
Dun q Bradstreet.
Business Loans by member
banks in the week ended Oc-
tober IL totaled $31 ,521 900. 900.
up $126 million from the previ-
Gus week and up $1.8l5. .000. 900
from the like week q year ago.
Federal Reserve Board.
Short Interest on October IA
totaled 3,7S7, ,4S0 shares, up
tl32,509 from September 15.-
New York Stock Exchange.
Fire Losses over the Nation
in September totaled $Sl ,845.-
900, down 1.4e5 from the like
month q year ago.-Ntl. Board
of Fire Underwriters.
Evening star., 1960-10-20
OVER COUNTER

Swashington iistings on oyeY.the-
eoanter markets furnished BY the Ma
titnal Association Of Securities Deal
eIs Is Of pm. Thursday, Oct. 20:
Evening star., 1960-10-20
MUTUAL FUNDS

NEW YORK (AP)I
- National Associa-
ton Securities Deal.
Nrg. Inc
Evening star., 1960-10-20
TREASURY BONDS

NEW YORK (AP) Noon over the
counter US. Government Treasury bonds,
bid, asked net change and yield for
Evening star., 1960-10-20

eCOnuS.
T-Partially tax exempt.
Evening star., 1960-10-20
DIVIDENDS

BY the Associated Press