davidaulloa/AmericanStories huggingface dataset:
Evening star., 1960-08-19
Clarendon Trust
Adds New officer

Alfred w. Powell, Jr., former
vice president of the Southern
Bank of Commerce at Martins
vile. Va. has been named as
Sistant vice president of Claren-
don Trust Co.. President Thom-
as E. Sebrell III announced.
President Sebrell said Clar-
endon Trusts continued growth
made necessary an expansion in
staff. The bank has opened
three new Offices since 1850 and
assets, have grown from Sill
million to $22.5 million.
Mr.. Powell gained admins
trative experience with the
worlds largest research COM
pany. Bell Telephone Labora-
tories in New York City, before
joining the Martinsville bank.
Previously he was associated
with the First National Ex-
change Bank in Roanoke, Va.
He is native of Virginia
and a graduate of Washington
and Lee University, where he
studied law. He also has a mas
ter's degree in business ad-
ministration from the Univer-
Sity of Virginia.
Evening star., 1960-08-19
Area Sales Reduced
; Pct. From Year Aqo

Department store sales in the
Washington Metropolitan area
Jagged 3 per cent behind a year
ago in the week ended August
13, despite an increase Of 3
per cent from the preceding
week. the Federal Reserve Bank
OF Richmond reported.
Area sales in four weeks end
ed August 13 were down 2 per
cent from the like 1859 week
and those for the year to date
were down 2 per cent.
The downtown portion of the
area sales total was 8 per cent
behind a year ago in the latest
week. but was per cent ahead
OF the previous week. Four
weeks downtown sales in four
weeks were off 7 per cent and
those for the year were down
8 per cent.
Evening star., 1960-08-19
lockheed Gets
S76.7 Million
Satellite Job

SUNNYVALE, Calf, Aug. l9
(SpeciaD "A $76.7 million con-
tract has been awarded the
Lockheed Missiles and Space
Division by the Ballistic Center
to continue development of a
ground-space communications
and control network for the
Air Forces Discoverer. Midas
and Samos satellite programs.
This was announced here to-
day jointly by Maj. Gen.
Thomas P. Gerrity. B.M.C.
commander, and Herschel j..
Brown, Lockheed's vice presi-
dent and division general man
ager.
The award, which makes
formal a letter contract under
which the work already has
begun. expands Lockheed's part
in the overall development Of
military satellite systems for
the Air Force, Gen. Gerrity
said.
1t broadens the missiles and
space divisions activities to in
.clude systems engineering and
technical direction for the COM
munication and control net
work. The company also is the
systems manager and prime
contractor to the Air Force
B allistic Missile Division
(ARDC), for the design and
manufacture of the Agena sat-
elites for the Discoverer, Midas
Missile Defense Alarm Sys-
tems) and Samos reconnais-
sance satellite programs.
The new contract names the
Lockheed missiles and space di-
vision to assist the Air Force
in establishing an integrated as
sociate contractor team for sa-
tellite tracking and data read
out facilities, Gen. Gerrity said.
Lockheed will build hardware,
man some of the communica-
tions and control stations. build
and install hardware in the
Air Forces Satellite Test Gen.
ter in Sunnyvale, and assist the
Air Force in the operation of
the center.
The Philco Western Develop
ment Laboratories, Palo Alto,
Calf, has assumed an associ-
ate prime contractor role for
ground-space communications
under Lockheed's technical di-
rection.
Evening star., 1960-08-19

way to lower, more literally
spaced counters.
The three level store has be-
come a standard fixture for
Sears in the area.
I'VE put hard lines in the
basement, wearables on the
main floor and home furnish
ings on the upper level" Mr..
Barnett explained.
Even though Sears execu-
tives long ago decided to in
clude on-site parking in all
their major stores "a far
sighted policy for more than
three decades ago increased
volume has forced the branches
to further expansion.
The Wisconsin avenue store
added a multi-level parking
unit, and the Arlington branch
more than doubled its sales
area in 1856.
Evening star., 1960-08-19
BUSINESS BRIEFS

America Corp, a diversified
holding company, has bought
Pricemetal Corp. of Belmont,
Calf. for an undisclosed sum.
Pricemetal will become the
Pacific division of Virginia
Metal Products, Inc. an Amer
lean subsidiary. Pricemet t a |
makes steel doors and parti-
tions.
Dow Chemical Co. will dis
continue operations of a sub
sidiary, Sequoia Metalcraft Co.,
Inc, of San Carlos, Calf. The
company operates a magnesium
foundry and has Al workers.
New York Mercantile Ex-
change elected John J. Scanlan
as president. Mr.. Scanlan for
merly was vice president and
secretary of the New York Cot
ton Exchange. The Mercantile
Exchange plans to sponsor the
National Stock Exchange.
Business Failures totaled l ,146
in July, compared with 1884 in
June and 1,071 in July. 1859.
Casualties in manufacturing fell
to the lowest level since 1856
Dun & BradStreet.
Heavy Construction Contract
awards in the week ended Mon
day increased to $455.l million
from $435.5 million the week
Before, bringing the total for
the year to date to a record
$14,891 100000. or 9 per cent
ahead Of last years pace
Engineering News-Record and
Construction Daily.
Loans to Brokers and dealers
on other than Treasury securi-
ties held by member banks in
New York City totaled 1889
million Wednesday, an increase
Evening star., 1960-08-19
vEPCO Earnings Rise
II Pct. Above 1859

July net income of Virginia
Electric and Power Co.
amounted to S2,479,000, a gain
Of IL per cent from $2,2l3.oOo
in July last year, President A.
H. Mcdowell, jr., reported.
The net was equal to 15.1
cents a share, compared with
1873 cents a share in the same
1859 month"; July operating
revenues rose to $13.175 600
from $12.555,ooo a year ago.
Net income for 12 months
ended July 81 rose to $30,O47,-
600 or $1.83 a share, compared
with $26,830.o0o or $1.61 a
share in the same period last
year. Revenues for the IL
months aggregated $157,221,-
600, compared with $145,782.-
600.
The company had around
754,000 electric customers and
$4,000 gas customers on July
Evening star., 1960-08-19
TALKING OF BUSINESS
Sears Plans More Retail Outlets
In Growing Washington Area
By WILLIAM MacDOUGALL
Star Staff Writer

star SJAn WRITER
An unhappy customer wrote
an anxious letter of complaint
to Sears, Roebuck & Co. about
1900.
For heavens sake, quit send
ing me sewing machines" the
customer complained. Every
time I go to the station find
another one there. You have
shipped me five already"
Sears long ago solved its To-
gisticS problems and developed
the mail order business to a
high degree of efficiency.
More recently, however, the
company has concentrated its
efforts on retail business-and
the outlook is for more Of the
same in the Washington area
in the next few years.
This was disclosed by John
T. Barnett, the fullback-sized
executive who has headed the
company's area operations
since 1855.
SIT Million
I'VE have had good accept
ance in Washington" he de-
clared. "and we hope to build
some new stores here in the
SOS. We're doing it Nation
wide - about SIT million is
being spent in 1860 throughout
the country"
He observed that Washing
ton is growing. so it's logical
we'll expand here-but there's
nothing definite yet"
Sears, which Mr.. Barnett de-
scribes as the third largest de-
partment store chain in the
area. has been on the local
scene since 1929. /
The Bladensburg road store
was built first, followed in 194l
by the Wisconsin avenue out
let. in 1912 by the Arlington
branch and in 1856 by the
Alabama avenue operation.
A smaller Silver Spring store
was completed in 1949.
80 Years With Sears
Mr.. Barnett, 81. boss of some
1000 Sears employees in the
area, is a veteran of more than
80 years with the firm. A ma
tive Of Memphis, Mo-. he Joined
the company as a trainee after
graduation from the University
Of Missouri and was appointed
m anager of the Holyoke
CMass)' store in 1881.
He worked in New York,
Cleveland and Pittsburgh before
Evening star., 1960-08-19
Approval
For Suburban
Trust Merger

Final approval of the merger
OF Suburban Trust Co., Hyatts-
vile, Md. and Farmers and
Merchants Bank of Marlboro,
Md, has been received and
was effected yesterday after
noon, it was announced by
Board Chairman T. Howard
Duckett and President j. Robert
Sherwood.
New Federal banking legis-
lation affecting bank mergers
resulted in a longer delay than
anticipated. Final approval
came from the Federal Deposit
Insurance Corp. and the Mary
land bank commissioner.
The Upper Marlboro bank
and a branch have become
branches of Suburban, increas-
ing that institutions offices in
Prince Georges and Montgom-
cry County to II. The addition
raises Suburban's assets. above
$157 million and capital funds
to around $40 million.
William H. Brooke. manager
OF the Upper Marlboro Office
has been elected vice president
OF Suburban and w. Curtis
Hopkins has been added to the
Suburban board.
Chairman w. Landon Turner
and President Frank M. Hall
and other directors of the old
Farmers and Merchants Bank
have been elected to the ad-
visory board of the former two
offices of that bank.
Mr.. Brooke has been vice
president, cashier and a direc-
tor of the Upper Marlboro
bank. He is native of Upper
Marlboro and was educated at
Leonard Hall and Loyola Col
lege. He also has been in the
insurance business and resides
on a farm near Upper Marlboro.
Mr.. Hopkins. the new Sub
urban director has been a gen.
eral merchant and automobile
dealer for many years in Prince
Georges County and now is a
real estate broker. He formerly
was county sheriff and register
of wills.
Evening star., 1960-08-19
Gas Sales Increase
Sharply From 1859

Sales of Washington Gas
Light Co. were we'll above a
year ago in both July and the
first seven months of this year,
the company reported today.
July sales Of 15,947,579
therms were 1913 per cent
ahead of 14,392,271 therms in
July last year.
Seven months sales aggre-
gated 327.268,677 therms. a
gain of 11.98 per cent from
292. .260,590 therms in the same
1859 period.
The company had 391,l84
gas meters in service on July
81, compared with 379,98l a
year earlier.
Evening star., 1960-08-19

his appointment to the Wash
ington Office.
He admits he entered the
company at an opportune time.
The Chicago-based firm, found
ed by a time Minnesota
railroad agent, Richard w.
Sears, was expanding from it's
traditional mail order business
into the retail field.
Retail volume passed the
mail order business in 1882" "
Mr.. Barnett observed. "As the
retail end grew. store managers
were given more and more in
dependence all the time"
Three Levels
Washington is good ex-
ample of how the Sears stores
have evolved. Pre-war mer-
chandise displays, high and
crowded generally, have given
Evening star., 1960-08-19

of $l8 million from the week
before and decrease of 1881
million from year before
Federal Reserve Board.
Excess Reserves of member
banks averaged 1894 million
during the week ended
Wednesday, S32 million more
than the week before and s103
million more than a year
earlier.-Federal Reserve Board.
Intercity Truck Tonnage in
"a metropolitan areas in the
week ended August 13 was
down l.3 per cent from a week
earlier and down 3.8 per cent
from the corresponding week
of 'l959.-American Trucking
Associate
Evening star., 1960-08-19
Most Auto Makers
Idle in Chunqeover

DETROIT, Aug. 18 (AP.-
Car assemblies will fall this
week to 48,428 units. with most
manufacturers idle in the 1861
model changeover. Automotive
News said.
Last week 8l.213 cars were
made. Last year production
was 3l,74l for. the week ended
August %.
Automotive News said COM
pacts are taking 54.3 per cent
Of this weeks production COM
pared to 3l.6 per cent last week.
Evening star., 1960-08-19
Earnings

Beneficial Finance in the s
months ended June 80 earned
Sl2,330. $50, or $1.16 a share,
VS.. $11, ,264.591, or S1.05 a share,
in the 1859 period.
Universal Controls in the year
ended March 81 earned S4,174,-
O50, or A cents a share. vs..
S3,656.607, or 38 cents a share.
in the 1859 period.
Other earnings:
Enn q AInnAL. n.L.a L.. IN
Evening star., 1960-08-19

waldorf, Mo, boat building
firm: $4,000 of five-year 8 per
cent convertible debentures of
Human Sciences Research. Inc,
Arlington. Va. and a $25.00O
f1ve-year loan to Mimsco Metal
Products Corp. of Alexandria,
Va.
The additional Investments
illustrate GWII's intended role
in providing financial assistance
to science and industry and also
show that Washington area in
dustries provide ample oppor-
tunity for promising investment
ventures, President Scurlock
commented in a letter to stock
holders.
The $4,000 debentures of
Human Sciences will be con-
ve4tible for five years into
around % per cent of that
firms authorized common
stock. Formed in 1857 by DR..
M. Dean Havron as a Vir-
ginia corporation, Human
Sciences specializeS in systems
and operations research and in
problems of psychological and
economic research. Its prin-
cipal contracts are with the
Defense Department and other
Government agencies. And an
nual volume approximates
$325,000. Stock is owned by
employees.
The 100000 debentures of
w. R. Chance & Co. will be
convertible for five years into
around 49 per cent of the firms
equity. The company has de-
veloped all-plastic boats up to
so feet in size under contracts
with the Navy and Coast
Guard.
It has just entered the large
inboard private cruiser field
with "Take-a-Chance," a Al
foot all-plastic craft launched
in June. A 30-foot line is
under development FOR intro
duction next January.
The company also manufac-
lures plastic -f1berglass swim
ming pools and many other
plastic products. Sales are
running we'll above S50O,0oO a
year and its work force of
around 10 persons operates a
$1,000 0-square-foot plant at
Waldorf.
Mimsco Metal Products Corp.
produces small structural steel
and ornamental iron products
in its Alexandria fabricatine
plant.
Evening star., 1960-08-19
PIG Profits
SetNewHiqh

CINCINNATI, Aug. 10 (AP)
The Proctor & Gamble Co.
reported record net earnings
of S9O,076,076 for the fiscal year
which ended June 80.
That was the equivalent of
$4.73 a common share of stock
and was a 20 per cent increase
over the previous years total
of $8l ,697,965 or 1896 a share.
Net sales for the firm and its
subsidiaries also reached a rec
ord high of $l,441. .548,293, a 5
per cent increase over the pre-
vious years total of Sl,368.-
532,426.
Evening star., 1960-08-19
Freight CorIoodinqs
Show Slight Rise

Railroad freight loadings
showed little change last week
with the volume at 599,908
cars, the Association of Ameri-
can Railroads reported.
This volume. for the week
ended August l3. was 5,579 cars
or 0.9 per cent above the pre-
vious week and $3.50 cars or
1912 per cent above the same
week last year when the Ma
tion-wide steel strike was on,
but 26,406 cars or AZ per cent
below the corresponding week
in 1858.
Evening star., 1960-08-19
FNMA Boosts
PricesforFHA,
VA Mortgages

Federal National Mortgage
Association today announced
an increase in its over-the-
counter purchase prices for
FHA-insured and VA-guaran-
teed mortgages. The new
prices are applicable only to
mortgages purchased under the
secondary market operations.
The revised price schedule
will apply to all purchase con-
tracts executed by the associa-
tion on and after August 10.
Purchase prices for District of
Columbia and Maryland mort
cages will be 991a, compared
with SO in effect since July Is
and 98l2 before that. Prices
for Virginia mortgages will be
SO. compared with 9812 in ef-
feet since July 16 and SO be-
fore that.
According to FNMA presi-
dent. j. Stanley Baughman,
the prices to be paid for 5A
per cent. 5A per cent and 4A
per cent home mortgages pur-
chased over-the-counter rep
resent a "a point increase from
previous prices.
The new prices will range
from 100-98 for 5341o mort
cages; 96-94 for 54%o mort
cages and 92-9O for 434 %
mortgages. In accordance with
usual mortgage practices, these
prices vary by areas and by
the amount Of the mortgagor's
equity.
Over-the-counter prices for
multi-family housing mort
cages will continue to be nego-
tiated on an individual case
basis. No change was made in
the prices being paid for mort
cages contracted for purchase
under standby commitments,
which are SO for 5349o home
mortgages and for 514qo multi
family mortgages. The y of
10 purchase and marketing
fee and the 30 common stock
subscription requirement also
remained unchanged.
Mr.. Baughman said that
"FNMA's action in revising its
purchase prices at this time
reflects the continued greater
availability of mortgage credit
and the generally improved
climate of the current mort
gage market"
FNMA yesterday declared it's
56th consecutive monthly divi-
dend on common stock of %
cents share. payable Septem-
Der IS to holders of record Au-
gust 81.
Evening star., 1960-08-19
Lawyers of Richmond
Reports Growth

Lawyers Title Insurance
Corp. of Richmond, Va, which
has a large Washington Office,
reported admitted assets
reached $27 100000 on June 30,
compared with $24,223,0O0 a
year ago.
Legal reserves rose to ST.
228,740 from $6,764,702 on the
same 1859 date.
Evening star., 1960-08-19
CHICAGO
LIVESTOCK

- CHICAGO, Aug. 10 (AP) tUsDA.-
ss assSEs, $4,000 1900; active: butchers steady to
lower; fair shipping demand; mixed
lots l-2 and mixed l-3 l90-25II ib
butchers 17.00-17.25; around $50 head
mfSed mGfSsg sIoJo aJ 2p9723O lbs, Id;o0:l7.25;
I6.50-17.O9; butchers over 80 lbs
scarce; few IS 325-35O lbs. is 75;
mixed grade l.3 and mixed % 800
200 10 Sows "A 50.l6.0 90; mixed grade
Cattle 300: calves none: not enough
for price test; cows steady to 10" weak: AK
bulls and ,vealers steady; no sales
mercial COWS 13.60-15. 90; canrers
and cutters. 12.00-16 90: utility and
commercial bulls II ,O0-2O So good and
choice yealerS % ,00-24 90; STANDARD
T.OO-22 90; culls down to 10 90
Evening star., 1960-08-19
Gilbert Joins Staff
OF MockoH & Coe

Riley M. Gilbert. jr., who for
merly was with American Sc
curity & Trust Co., has become
associated with Mackall g. Coe,
Washington investment firm
and members of the New York
Stock Exchange and other
exchanges.
Mr.. Gilbert is a graduate of
Harvard University and was
employed in the trust invest
ment department of Mortgan
Guaranty Trust Co. of New
York for three years before
coming to Washington.
Evening star., 1960-08-19
METALS

NEW YORK, Aug. 10 fAP).-spot
nonferrous metal prices today: Copper
Lead l2 cents a pound, New York.
Zinc 13 cents a pound, East St. Louis.
Tin Ola a pound, New York. For
eign silver e1ss cents per troy ounce
New York.
vas quoted by Iron AEe at 81 OO-3" 90.
Evening star., 1960-08-19
CIVIL Adds Securities
Of Three Area Firms
To Growing Portfolio
By DONALD B. HADLEY
Star Financial Editor

Greater Washington Industrial Investments Inc added
$155o00 OF securities of three small Washington
its growing portfolio announced by President Arch
Scurlock today.
The portfolio additions include 100000 ve-year per
cent convertible debenues of W. r. Chance Associates
Evening star., 1960-08-19
OVER COUNTER

Washington listinEs on over-the-
counter markets furnished by the Ma
tional Association of Securities Dealers
as of m. Friday, August 10:
Evening star., 1960-08-19
TREASURY BONDS

NEW YORK, Aug. le CAP). Noon
over-the-counter United States Govern.
nlent Treasury bonds, bid& asked, net
I Nhanda and AL Ia.
Evening star., 1960-08-19
FOREIGN
EXCHANGE

NEW YORK. Aug, 10 CAP) Foreign
exchange rates Great Britain and
Australia in dollars, others in cents
and decimals of a cent?:
Canada in N
Evening star., 1960-08-19

81. gains Of 21.700 and $500,
respectively, from a year ago.
Evening star., 1960-08-19
MUTUAL FUNDS

NEW YORK. Aug. 10 (AP).-Na-
tional Association Securities Dealers,
Evening star., 1960-08-19

/ partially tax exempt.
Minneapolis spokesman. [volume] (Minneapolis, Minn.) 1934-2000, 1960-09-30

his wife, Carol Later the same
day Crews signed a statement say
ing he would not prosecute his
wife for the stabbing.
Officers Kaase and Truso, de-
tective Gerald Hanggt and Gerald
Bodin Of the Homicide division and
several squads arrived at the scene
shortly after the stabbing and
were told that Crews left work on
the 23rd at 7 am. and did not go
directly home. He came home
shortly before the incident. He
had been drinking and an argu-
ment started. Crews wife, Carol
Ann, n, stabbed him three times
in his back because he was picking
on the children and threw her on
the floor, she told police.
At Ancker hospitas l, was found
Crews wounds were not serious
and x-rays indicated no internal
injuries. Later that evening Crews
signed statement stating he did
not wish to prosecute his wife.
Minneapolis spokesman. [volume] (Minneapolis, Minn.) 1934-2000, 1960-09-30
Held On Suspicion
Of lieansa Fraud

OF License Fraud
Harvey Woods, of $50 Carroll,
st. Paul was taken into custody
about e:35 am. on September 2Srd
by officer Torrance Stockton at
Dale and County Road B on a
traffic warrant, charging him with
obtaining drivers license by fraud.
Woods admitted to police that
he did not take the written test
nor the road test in connection
with an application for a drivers
license and that the person who
took the test, also signed the form
with his (Woods') name.
The person who took the test
for him was to be compensated,
however. Woods states he did not
know the man.
Woods was held for suspicion Of
fraud to obtain a drivers license
Lord Horatio Nelson who found
ed the rum ration" in the Brit
ish Royal Navy served in Jamaica,
the island where the rum comes
from when he was a 21-year-old
lieutenant.
Minneapolis spokesman. [volume] (Minneapolis, Minn.) 1934-2000, 1960-09-30
NV Nufiondl H0S
New Film The
Personul Touch

Northwestern National Banks
new movie The Personal Touch ,
has dealt a death blow to the stere-
otyped picture Of a banker as the
cold, hard-eyed businessman in the
community.
The film skaters this image
pleasantly and informatively by re-
moving public misunderstanding
about banks and their varied serv-
ices.
Many Americans have only a
vague notion of the vital part bank
ing plays in their lives. The film
takes a giant stride in explaining
the behind the-scenes operation Of
banking and the contributions
banks make to the American
standard of living.
Northwestern's The Personal
Touch" takes the viewer inside for
a close look at banking in terms
of the people who work to make
the bank a real factor in the COM
munity's well-being.
This story of the bank, its people
and its services is told in fun color.
Northwestern As voice EON
chorus contributes heavily to an
interesting explanation Of the
banks multi-faceted operation.
In showing the various functions
of a bank, the film also succeeds
in personalizing an industry that
is sometimes regarded by the pub
lie as impersonal and aloof.
In an entertaining manner, the
viewer tours various departments
and gains an insight into the ac-
tivities that make the bank a driv-
ing force in the growth of a COM
munity.
Other glympses are given by
the picture of such bank depart
ments as savings, checking ac-
counts, trust services, business
counselling, help to industry in
planning future programs of devel-
opments.
AS part of its effort to help the
public know banking better, North
western is making the film avail
able to schools, clubs and other
civic organizations.