davidaulloa/AmericanStories huggingface dataset:
Evening star., 1960-04-27


as a Small Business Investment
Company.
Today's offering was made at
$40 a share for a total of SIS
million. After underwriting dis
counts or commissions amount
ing to $500,000, proceeds to the
company will total S4.5 million.
AuchincloSs. Parker & Red
path and Johnston, Lemon &
Co. headed the underwriting
group. Other members in
cluded Eastman Dillon, A. c.
Allyn & Co., Bache & Co.,
Mackall & Coe, Birely & Co.,
Sade & Co., Robinson g. Lu-
kens, Ferris & Co., Hirsh &
Co.. Rouse. Brewer, Becker d
Bryant, Folger, Nolan, Flem-
ing-W. B. Hibbs g. Co. and
Francis I. DUPONT & Co.
With executive Offices in the
Cafritz Building, 1925 I street
NV. the company also is reg
istered as a closed-end nom
diversified management in
vestment company under the
Investment Company Act of
1910.
1t expects to participate in
small business concerns by
purchasing their convertible
debentures and such other
equity securities as future
amendments to the Small Busi-
ness Act of 1858 may permit,
by making long-term loans to
such concerns and by furnish
ing consulting and advisory
services.
Arch Scurlock, president of
Atlantic Research Corp, is
president and a director. Harold
D. Kube is treasurer and DON
aid A. Christensen, secretary.
Holdings of principal stock
holders include: American Sc
curity & Trust. 1900 shares or
4.6 per cent; Atlantic Research,
Alb shares or 1882 per cent;
AuchinclosS, Parker & Red
path, $500 shares or 6.39 per
cent; First & Citizens National,
4,1l7 shares or 1852 per cent;
Johnston. Lemon g. Co., 1900
shares or 4.60 per cent: Riggs
National, 2,94l shares or 7.52
per cent, and Arch Scurlock,
1900 shares or $50 per cent.
Evening star., 1960-04-27
N&W's Earnings
Set 3-Month Peak

ROANOKE. Va, April 81
(AP).-Record first quarter
earnings of $14,273,588 or $l.9O
a share of common stock were
reported yesterday by the Nor
folk & Western Railway Co.
The railroads net income in
March was $5,098,133 or SO
cents a common share, 9 per
cent above the same month of
last year.
In Philadelphia, the N&W
board Of directors declared a
quarterly dividend of 81 per
share on $25 par value common
stock. payable June 10 to stock
holders of record at the close
of business May IL.
Evening star., 1960-04-27
By WILLIAM MacDOUGALL
Star Staff Writer

Advance studies of the
markets receptability to new
services are smoothing the
course of planning for the
Chesapeake and Potomac Tele-
phone Co., an official declared
today.
H. Holmes Vogel, vice presi-
dent in charge of the Washing
ton company, asserts that
market analysis-introduced to
the Bell System only recently
has removed many risks
from planning for the future.
I'VE were running greater
risks before we adopted this
system" he explained. I'VE
didn't know If new develop
ment would have much public
acceptance"
Ends Uncertainty
Market analysis has removed
much Of that uncertainty, he
said.
Now we have advance knowl-
edge of how something is going
to co." Mr.. Vogel observed.
The C&P entered the field of
analysis more than a year ago
Mr.. Vogel said. A handful of
persons was assigned to de-
termine through questionnaires
and surveys how the public
would react to proposed services
and equipment. A close check
was kept on the analysts pre-
dictionS and actual results.
ut proved to be such a good
program" Mr.. Vogel said, that
we're planning to expand it."
About Is persons are en-
ployed exclusively in the mar
keting program.
To Determine Needs
1t was set up originally. Mr.
Vogel said, ito find out what
customers want and what will
make our service more attrac-
tive and efficient.
Under the program, the c
and P Co. also has done some
advance testing for the Nation
wide Bell System. A new call
director" system, for example
was tested in the Washington
area last year.
An Office intercom that doubles
Evening star., 1960-04-27
Safe Deposit Unit
To Meet MAY a

The Safe Deposit Section
of the District Bankers AS
sociation will hold its finan
dinner meeting of the season
at the Columbia Country Club
on Wednesday, May 4, it was
announced by Ralph H. Nit
tendorff, section chairman.
officers for the new year
will be introduced to the men,
bership and in line with tradi-
ton there will be no speeches.
Evening star., 1960-04-27
METAL PRICES

NEW YORK. April 81 CAP).-spo,
non-ferrous metal prices TO-DAY: Copper
- cents q pound, Connecticut Valley
Lead l2 cents pound. New YoTk
enc ~ cents a pound. East st. Louis
I'm 9sts cents a pound New York
Foreign silver 9IA cents per troy
ounce; New York. PITTSBURGH scrar
gee no 1 nesyy was quoted BY Iron
Evening star., 1960-04-27
BUSINESS
BRIEFS
Electricity OUTPUT last week

Electricity Output last week
fell to 13.213,000,000 kilowatt-
hours from l3,263,0 900 a
week earlier but exceeded the
12,538,0 100000 turned out dur
ing 1859 period.-Edison Elec-
trio Institute.
Wholesale Food Price Index
dropped to $5.94 from $5.98 last
week and was 3.4 per cent be-
low the S6.l5 figure of the SINH
lar week last year.-Dun &
BradStreet.
Evening star., 1960-04-27
SBA Investment Firm
Booked by Banks Sells
S5 Million of Stock
By DONALD B. HADLEY
Star Financial Editor

An offering of 100000 shares of Greater Washington In
dusa Investments Inc reached the market today and met
with strong demand indicating substantial oversubscrpon
Riggs National Bank American Security Trust Co. and
First and Citizens National Bank of Alexandria among
the largest Stockholders Of the firm which has been licensed
Evening star., 1960-04-27
Earnings

Consolidated Edison Of N. Y
in IL months ended March 81
earned $67,241,513 or 1881 q
share compared with $685.
260 or 1924 in the preceding
year.
other earnings included:
Evening star., 1960-04-27
TREASURY BONDS

NEW YORK, April u (AP) P).-Yester-
days closing over-the-counter United
States Government Treasury bonds.
Evening star., 1960-04-27

has been vice president Of Air
Carrier Service Corp, was
promoted to president Of Air
Carrier Service. Prior to joining
the company in November,
1859, he was with Lockheed and
Convair.
Evening star., 1960-04-27
MUTUAL FUNDS

NEW YORK, April u APl.-Nationsl Asss-
eistion Securities Dealers, Inc.
Evening star., 1960-04-27

ing secretary.
Evening star., 1960-03-20
ForDeGouIIe:


French President de GaulIe
Friday rejected a petition by a
majority Of the National AS
sembly for q special session TO
consider q farm price crisis.
When week ago Mr.. Khru-
shchev postponed his visit to
France, scheduled for last Tues
day, to March %, President de
Gaulle was reported annoyed and
upset. The extremely elaborate
plans made for the Soviet Pre-
mier's official visit would have to
be scrapped and a new start made.
But the week brought more than
Just annoyance to the stern, aus
tere man who identifies himself
with the very soul of France. Un-
der fire from even his staunch
supporters and from all center and
left political groups because of his
supposed "turnabout" on the Al
gerlan revolt Che told army lead
ers in Algiers that the French
Army must defeat the rebels be-
fore Algeria's future could be dis
cusSedD, the general faced a new
political storm.
For months French farmers
have been complaining bitterly of
a price-cost squeeze that they
claim is ruinous. Prices are fixed
on farm products, but costs of
farm machinery, fertilizer and
other essentials have risen stead
lily. There have been riots and
demonstrations in several farm
areas.
Under the De Gaulle-sponsored
constitution Of the Fifth Repub-
lie. the National Assembly NAV
call a special session by a petition
OF a majority. Such a petition
was duly prepared last week. with
signatures to spare. The President
rejected it, defying the Assembly
on the ground that he was charged
under the Constitution with de-
Tending "the proper functioning"
Of the Republic.
Yesterday all the signs pointed
to a serious political crisis for
Gen. de Gaulle; who has weathered
several before and has gradually
been whiting away the role of
the Parliament.
Some observers in Paris are sug-
geSting that the farm issue was
used as a convenient springboard
from which to launch a major at
tack aimed at ousting Gen. de
Gaulle from power. If so, the gen.
eral shows no indications of re-
treat.
Evening star., 1960-03-20

Board, 1t. Comdr. Pons announced
his resignation. He called Mr..
Castro and his brother Raul
"marionettes" manipulated by
Ernesto che" Guevara, Argen-
tine-born Castro aide who now
heads the Cuban National Bank.
Fidelismo, said Comdr. Pons, lis
a mask behind which hides in
ternational communism"
The State Department granted
political asylum to Comdr. Pons
and to Capt. Angel L. Saavedra,
former military and air attache,
who, 1t was revealed, had quietly
resigned in February. The defec-
tons were the third and fourth
among top military men in the
26th Of July movement. In Ha-
vana, Con1dr. Pons was denounced
as a traitor.
American Ambassador Philip
W. Bonsal. recalled from Havana
last January % for consultations
after Mr.. Castro had attacked
him publicly as a "conspirator,"
is going back to his post "at an
early date" the State Department
announced Friday. Considerable
heated debate repeatedly took
place in the Department as to the
wisdom Of Mr.. Bonsal's return.
The Ambassador himself argued
that his place was at his post dur
ing the current anti-United States
agitation.
Evening star., 1960-03-20
Conferences Hit

On the other hand, the Presi-
dents news conference statements
drew quick and sharp objections
from Gov. Hollings of South Caro-
lima. The Governor said the ra-
cial situation in his State is Tex
ploSive" and that the problem has
moved from one of rights to one
of maintaining peace and order.
AS for bi-racial conferences, they
would be useless. he said.
If such conferences would be
a waste of time in South Carolina.
they apparently were not in one
city in Texas. Last week, after
leaders of both races discussed the
problem jointly, number of drug
and variety stores voluntarily
agreed to open their lunch count
ers to Negroes.
There were other breaks in the
color line in Nashville, Tenn, and
at Suffolk, Va. In Nashville, two
Negroes were served at a previ-
ously segregated bus station res
taurant. In Suffolk, a five-and-
dime store lunch counter, closed
two weeks ago after Negro sit-in
demonstrations, reopened on a
service-to-all basis. There was
one change, however. There were
no seats. Everyone had to stand
up.
Evening star., 1960-03-20
Behind the Vote

The golden opportunity for the
Southern stroke came as Northern
Democrats and Republicans jock
eyed for political advantage. This
is how it happened:
Liberal Democrats, aided by
Southern votes, eliminated the ad-
ministration's voting-referee plan
and substituted a plan of their
own. The Republicans then turned
around and with the help Of the
alert Southerners who wanted no
vote plan at all, struck down the
liberal Democratic substitute.
At this point, there was no pro-
vision in the civil rights bill for
Negro voting guarantees. But the
Republican leaders resubmitte6
their proposal, with a minor varia-
ton in order to qualify it as q
new amendment.
Representative Smith Of Vir-
ginia, the Southern tactician-in-
chief, called for a point Of order,
on the ground that the rules state
that once a provision is defeated,
q similar one cannot be offered.
For one breathlesS moment, Mr..
Walter, who was in the chair pre-
siding, pondered the point. Then
he ruled against Mr.. Smith.
Evening star., 1960-03-20
Demonstrations

For as nearly as long as the
civil rights fight has been going
on in Congress. Negro demonstra-
tors have been stirring up the
South with lunch-counter "sit-in"
tactics, picketing and protest
prayer meetings. They demand
the right to be seated alongside
whites in public restaurants.
Last week at his news con-
ference, President Eisenhower was
asked to comment on the new
ferment in the South and what,
If any, role the Federal Govern
ment should play in the situation.
The replies that Mr.. Eisenhower
gave probably were not wholly
pleasing to either the Southerners
or the Negroes:
He thinks it is a local problem
and not one for Federal nose
poking. He recommended that BIZ
racial conferences be held in every
Southern city to tackle the prob
lens of segregation. Undoubtedly
some Of the Negro demonstrations
were proper and others probably
not. He is not lawyer enough to
say whether Negroes have a con-
stitutional right to eat alongside
whites.
Although Mr.. Eisenhower said
he was deeply sympathetic" with
any group seeking to enjoy con-
stitutional rights. his comments
indicated legal approach to the
matter rather than q moral one,
Evening star., 1960-03-20
Puerto Rico:
A BLunder?

The House and Senate Of the
Commonwealth Of Puerto Rico
passed a resolution Of protest
last week after President Ell
senhOwer publicly backed Luis
Ferre, Republican candidate for
governor Of the Commonwealth.
Puerto Rico, United States en-
voy to Latin America" has long
been a stable, democratic example
to the Latin nations of the
hemisphere. Enjoying a unique
political status as an "Estado
Libro Asociado," the Common
wealth elects its own governor
and legislature and has a large
measure Of autonomy.
Gov. Luis Munoz Marin, archi-
tect of the Commonwealth system
and Puerto Rico's first elected
governor. has been a major con-
tributor to improved relations be-
tween Yanqui and Latino. He
leads the Popular Democratic
Party, which has no connections
with the mainland Democrats or
any other party.
When Mr.. Eisenhower planned
his South American tour, Puerto
Ricans were deeply disappointed
that he planned only to stop at
remote Ramey Air Force Base
enroute and returning. The
President was asked discreetly to
stop briefly at San Juan for
official greetings. which he did.
On the return flight, however, Mr..
Eisenhower stayed at Ramey or
golfed at Dorado. When his plane
took off for Washington, Luis
Ferre, leader of the Republican
Statehood Party and candidate for
governor against Mr.. Munoz, was
aboard.
There were immediate rumbies
from the Caribbean. Queries at the
White House brought confirmation
that Mr.. Eisenhower did, as a Re.
publican, support Mr.. Ferre, a
fellow Republican. The President
confirmed this at his press con-
ference Wednesday.
But, insisted the Puerto Ricans,
did not the President know that
Puerto Rico was not a State, like
Idaho, and that the political par
ties and issues there were unre-
lated to continental parties and
issues? Was the President pub
licly opposing Mr.. Munoz; was he
favoring Statehood? The Legis-
lature protested formally. But Gov.
Munoz emphasized that the pro.
test was not "censure."
Evening star., 1960-03-20
The WEEK IN PERSPECTIVE
Arms: The Visible Pawns

Last Tuesday delegations
from the United States, Britain,
Canada, France and Italy, for
the West, and the Soviet Union,
Poland, ROmania, CZechOsl0-
vakia and Bulgaria, for the
Communist bloc, met In Geneva
for a new try at world disarma-
ment.
There will be a summit con-
ference, if all goes well, on May
l6. Most observers expect that
the talks Of President Eisenhower,
Soviet Premier Khrushchev, Brit
ish Prime Minister Macmillan and
French President de Gaulle will
set the stage for several subse-
quent summit meetings. And al
most all expect that the degree
of rapport established by the as
sembled chiefs-of-state at the
first meeting will determine the
pattern of future relations be-
tween East and West.
The Geneva disarmament con-
ference now in session can, it is
predicted, clarity the issues and
indicate the real width Of the
chasm dividing the two great
power blocs of the world. No one
expects any substantive accom-
plishments on disarmament itself
before the summit meeting. But
definitions may be agreed upon.
differences clearly outlined, and
areas of both agreement and dis
agreement delineated.
Any significant reduction in
ornaments, it is plain, must be
contingent on some significant re-
duction in the world tensions, the
political, theological and economic
problems that make ornaments
an obvious essential. Thus the
mere discussion of techniques of
arms reduction. control or aboli-
ton. can do little more'than show
the ways in which the prodigious
task might be accomplished. But
the conferees on disarmament
cannot Of themselves dispose of
the causes Of the arms race-only
the summit can make a beginning
on that.
Evening star., 1960-03-20

he argued for. But Mr.. Eisen-
hover did reaffirm his intention
that the freedom of the people of
West Berlin would continue to be
q major point in Allied policy.
Mr.. Adenauer said he was ''high-
ly satisfied" by his conversations
with the President.
The next day. however, the
Chancellor laid his case on the
line. In a hard-hitting address to
the National Press Club, Mr.. Ade-
nauer demanded that the people of
West Berlin be given, through a
plebiscite, the opportunity of
choosing between their present
status and that Of a "free city,"
an arrangement suggested previ-
ously by Mr.. Khrushchev.
Mr.. Adenauer scoffed at fears
that Allied f1rmneSs in Berlin
would provoke nuclear war. Mr..
Khrushchev needs peace" he de-
clared. adding that the Soviet
leader knew very well that, in nu-
clear war, there would be neither
victor nor vanquished.
Disarmament, he insisted, was
the first and foremost political
problem Of the world. The forth
coming international conferences,
summit or otherwise, should con-
centrate on that issue, he declared.
Progress toward solution would
greatly facilitate the solution of
any other political problems" Mr..
Adenauer said.
Critics here and in the European
press have charged that Mr.. Ade-
nauer'S concern with summit dis
cussion Of disarmament reveals his
opposition to any real detente be-
tween East and West. Disarma-
ment. say the critics, is the one
issue Mr.. Adenauer knows cannot
be resolved unless cold war politi-
cal problems are eased first. Pros
poets for German reunification on
Bonn's terms. and continuation of
German rearmament, depend
largely on continuation of the cold
war. the Chancellor's challengers
insist.
Evening star., 1960-03-20
PiecemeoI Plan

The Geneva talks opened Tues
day with these considerations
plainly accepted by both sides.
The West, led by the United
States, presented a cautious,
phased, piecemeal program for a
gradual reduction in ornaments
geared to an increasing measure
Of international control. The So
Wet bloc. for its part, stood pat
on the proposals set forth by Mr..
Khrushchev last September II at
the United Nations: Total dis
armament, to be carried out in
stages, with such controls as are
deemed necessary being coupled
TO the stages. (See story by William
F. Frye on Page B-4)
On the first day Of the confer
ence. the Soviet bloc let it be
known that 1t considered the
Western program inadequate and
insincere. The first speaker, a Bull
garian by accident Of alphabet,
noted that it would % have no
time table; (2) would not. lead
to total disarmament, and 80
stressed study" Of disarmament
rather than actual reduction Of
arms.
In the Vests rebuttal, Fred
rick M. Eaton, chief American
delegate. reminded the Communist
delegations that the West was not
at all likely to abandon its
strength or throw away its
arms" on the strength of a loose
promise that peace would prevail
and all the swords would be
beaten into plowshares. David
Ormsby- Gore, chief British dele
gate. emphasized the threat of
nuclear attack from space plat
forms. AS a first step, he urged
that the conference work on an
agreement to remove the possibil-
ity that nuclear bomb space rock
cts might soon be orbiting the
earth, ready at a radio signal to
loose their destruction against pre-
determined targets.
Evening star., 1960-03-20
Mr.. Adenouer:
Redssured?

West Germany's Chancellor
Adenauer talked in New York
with Israel Premier Ben GuriOn
Monday. On Tuesday he con-
ferred with President Eisenhower
at the White House, on WedneS-
day suggested q plebiScite In
West Berlin, and left for Los
Angeles on Thursday treasured"
on Western unity.
United States policy toward
Western Europe, and particularly
toward NATO, was based in 1949
on the unity Of the big Three"
the United States, Britain and
France. In principle, that unity
is still the keystone Of the Allan
tic alliance.
But beginning in the early
1950s, the chronic instability of
the French government, the in
volvment in Indo-China and then
in Algeria. and other important
considerations brought about a
gradual change in emphasis in
American policy. When John
Foster Dulles was Secretary of
State this shift became, in effect,
formalized. United States reliance
in Europe, at least so far at NATO
was concerned. was transferred
from France to the Federal Re-
public of Germany.
Mr.. Dulles and the aging but
agile Chancellor Adenauer be-
came close friends who usually
saw eye-to-eye on world problems.
Most important Of all, both were
stern advocates of a hard, rigid,
unyielding policy toward the So
Wet Union and world communism.
Last week Mr.. Adenauer, Wig
orouS and alert at "a. paid his
respects to Mr.. Dulles at the late
Secretary'S grave in Arlington.
Then he went to the White House
for a long talk with Mr.. Eisen-
hover, and it could be surmised
with safety that he urged the
DulleS-Adenauer policy at the
Geneva summit talks:
No yielding. no quarter. no con-
cessionS at the expense of the
status quo in Berlin, no recogni-
ton. even de facto, of the Com
munist German Democratic Re-
public.
Evening star., 1960-03-20
Politics.:
ToIkers

President Eisenhower last
week made plain he supports
Vice President Nixon as his sue
cessOr In the White House.
Had Gov. Nelson A. Rockefeller
Of New York remained in the race
for the Republican presidential
nomination. it is almost certain
that President Eisenhower would
have kept silent until after the
July conventions.
But it is almost three months
since Mr.. Rockefeller decided not
to vie with Vice President Nixon.
While he has not entirely erased
the belief on the part Of some
observers that he is waiting in the
wings in the long-shot chance that
Mr.. Nixon might muf his political
lines, Mr.. Rockefeller has done or
said nothing that would indicate q
reconsideration of his decision.
With this the situation, it
hardly comes as a surprise that
Mr.. Eisenhower has shed his at
titude of aloofness and made it
clear that he wants Mr.. Nixon to
be the next President of the
United States.
Mr.. Eisenhower first let his
feeling be known publicly" in
a closed-door speech at b Grid
iron Club dinner here a week
ago last night. He did not dot
the is and cross the t's, but his
indirect words could hardly be
misunderstood.
Nevertheless, at the Presidents
news conference last Wednesday.
it was natural that reporters
wanted to pin him down. The
President obliged.
IF anyone is wondering wheth-
er ! have any personal preference
or even bias with respect to this
upcoming presidential race, the
answer is yes, very definitely"
he said.
Later, when asked whether he
was referring to Mr.. Nixon, the
President shot back good-na-
turedly: WAS there any doubt in
your mind?"
When Mr.. Nixon was confront
ed by reporters with the intelli-
gence Of Mr.. Eisenhower's in
dorsement, he gave out no state
Continued on Page B-4
Evening star., 1960-03-20

for sharp Communist attacks in
debate.
Predictions as to the ultimate
outcome of the Geneva conference
vary widely. There are few who
optimistically profess to see sub
stantial beginnings on a definite
arms reduction program this year.
or even next. At the present
stage of world political maneuver,
there are more who agree that
any meaningful reduction Of ar
maments or agreements to carry
out such a program, phased or
otherwise. is something less than
realistic.