davidaulloa/AmericanStories huggingface dataset:
Evening star., 1960-01-11
Retailers to Construct
Fewer Branches in Year

Retailers investments in
capital Improvements this year
will place more emphasis or
existing facilities and less on
branch construction, according
to the annual year-end survey
of retail prospects and prob
lens just released by the Ma
tional Retail Merchants ASSo-
The survey also predicts an
average 4 per cent increase in
sales for the first half of the
year, with ready-to-wear ac-
counting for much of the vol
ume gain
The survey was conducted
among some 200 top executives
of NRMA member stores. 1t
was released as over 5000 de-
partment, speciality and chain
store executives gathered for
the associations 49th annual
convention in New York.
The emphasis on renova-
ton of existing facilities coin
cides closely with what appears
to be a marked renewal of con-
fldence in the future of the
downtown business districts of
the Nation" commented j. Cor
don Dakins, NRMA executive
vice president. on the survey
results. He pointed out that the
Evening star., 1960-01-11
AT&T Profits
$5.16
ASharein 50

NEW YORK, Jan. IL CAP)
Bell System earnings for the
II months ended November 80
totaled $1,135,841, 900, the COM
.pany reported today.
OF this 81, 100, ,781 900 was ap-
plicable to American Telephone
& Telegraph Co. stock. This
was equal to $5.16 a share of
AT&T stock.
In the IL months ended No
vember 80, 1858, the company
had a net income of $9,670,-
S05,000. of which S938,867, 900
was applicable to AT&T stock.
This was equal to S4.64 a share.
For the three months ended
November 80 net income was
$293,8 900, of which 1924, =
$4,000 or $1.33 applied to
AT&T stock. In the same
months last year net income
was $264,156,000, of which
S255,9 1894, 1000 or $1.21 applied to
AT&T stock.
Frederick R. Kappel, presi-
dent of Bell System and AT&T,
said the gain in telephones for
the 1859 year probably reached
about 3.3 million, an all-time
record.
Mr.. Kappel said there were
now about IL million AT&T
stockholders, up about 100000
from a year ago.
Evening star., 1960-01-11
Color Ad Drive
Planned by Group

Newspaper Color Advertising,
Inc. a new nonprofit CO.
operative organization to sell
national color campaigns in
newspapers, announced it will
begin operations February / in
New York.
Daily newspapers in Is cities
were listed as original sponsors
of the organization which viii
be headed by Harold H. Jaeger,
former advertising agency ex-
ecutive, as president and gen.
eral manager.
John w. Sweeterman, vice
president and general manager
of the Washington Post, was
elected chairman of the board;
j. Rufus Doig, OMara and
Ormsbee, and George E. Aker-
son, advertising director of the
Boston Herald Traveller, were
elected vice presidents. Peter
Benziger of Ridder-Johns, Inc,
was named secretary and
treasurer.
Evening star., 1960-01-11

Oil Public Relations, so West
Fiftieth street, New York, 20.
General Motors is sending
free every other month to new.
ly licensed young drivers, a
new m a g azine, American
Youth" edited for teenagers
with emphasis on safe driving
practices.
OldsmObile's zone office hon.
ored the five top statesmen here
last week, Frank TaVenner and
William Manuel of Colonial
OldSmObile, Stephen w. Marut
of Olmstead, Roy Bridges and
Martin Pearlman of Justine
Nicholson. Summing up
1859, Friendship Airport report
ed a 40 per cent increase in
pas sSenger traffic and an
nounced expansion plans.
Corvette Clubs annual BAN
quet and dance at the Wash
ingtonian Motel, Gaithersburg,
at z pm, Saturday; call Ruth
ShentOn for advance reserva-
tions. Richard ]. Davis,
Washington public relations
representative for Douglas Air
craft, goes back to California
to succeed retiring A. M. ROch-
len as public relations director,
with Howard p. MaginnisS TAX
ing Mr.. Davis Washington post.
Chrysler's new 3OOF, first
due in Washington this week.
will offer a 400-horsepower en-
glne as an option. -. National
Airlines' Washington vice pres
ident, Alexander G. (Sandyl
Hardy, goes to Miami head
quarters as senior vice presi-
dent February /. :. Sud Avia-
tion of France is discussing
possibility of licensing Convair
to build the jet Caravelle in
this country.
Evening star., 1960-01-11

ident, was promoted to aSSls'
tant vice president.
President John A. Reilly told
directors the bank had the best
gross and net earnings in its
S7-year history during 1859.
Gross earnings rose to 81, $780,
785 in the year, an increase of
81 per cent from $1,646,653 in
1858. Expenses totaled S1,286,-
53l, a gain of 7.3 per cent from
$l,l99,143.
Net earnings amounted to
$504,253. a jump of 1877 per
cent from S447,51O. The bank
has transferred $150,00O to sur
plus in the year. compared with
100000 in 1858, an increase
of 1873 per cent.
AS in the preceding year,
100000 of dividends were dis
tributed and $4,000 was trans
ferred to the reserve for bad
debts.
arThe five promoted officers of
the bank have been prominent
IN civic and business affairs.
Mr.. Miles has been active in
the Auditors Section of the Dis
trict Bankers Association and
currently is serving on the exc
cutive committee of the aSSo-
cations Safe Deposit Section
He also has served for several
years in drives of the United
Givers Fund, the American Red
Cross and the American Cancer
Society.
Mr.. Meade has been asso-
ciated with Washington Chap
Der, American Institute of Bank
Evening star., 1960-01-11

ing, Chesapeake Chapter o1
Robert Morris Associates, ano
the Safe Deposit Section Of the
bank association.
Mr.. Walden is treasurer of
the Financial Public Relations
Council of Greater Washington
and has served two three-year
terms as a director of the Re-
tail Credit Association. He also
is active in the Central Busi-
ness Mems Association and has
served on United GiverS Fund
committees. He is a veteran of
World War II.
Mr.. Folmer is attending the
Harold Stonier School of Bank
ing at Rutgers University. He
has been active in the Wash
ington ALB chapter, has COM
pleted its pre-standard and
standard courses and now is
taking the graduate course. He
also is a veteran of World
War II.
Miss KarydakiS. administra-
tive assistant to President
Reilly. is a past president of
the Bank Women's Club of
Washington.
She is serving currently as
secretary of the Capital Group,
National Association of Bank
Women and is one of the wom-
en- charter members of the
Me etropelitan n Washington
Board of Trade.
Savings and Loan Group
To Meet Wednesday
Washington Chapter, Society
Evening star., 1960-01-11
Bank Women Officers
To Hear Miss Engel

Capital Group. National AS
sociation of Bank Women. will
have Miss Charlotte Engel as
its guest speaker at a dinner
meeting at the Burlington Ho-
tel Wednesday night.
Miss Engel is trust officer of
National Savings g. Trust Co
and is immediate past national
president of the NABW, organ
ization of bank women officers.
Evening star., 1960-01-11
C. g. P. Of Maryland
Sets Telephone Record

Chesapeake & Potomac Tele'
phone Co. of Maryland had q
new record of I,237,000 tele-
phones at the year-end, a net
gain of $4,000 for the year
reported Vice President w. G
Morrell.
The company spent $40 mil
lion for improvement and eX-
pansion of its service in the
year, he said. BY the years end
around SO per cent of the tele-
phones in the State were dia,
operated.
Evening star., 1960-01-11

monthly. Runway lighting and
two-way radio are going in.
AS long as the airport remains
a municipal facility, it probably
is eligible for Federal aid and
on that assumption, is enviSion-
ing an ultimate outlay of $780,
600.
officials are cycling the steady
population and industry push
out of Washington in that
direction; hope to be ready tC
offer a small, modern airport on
a 24-hour basis to help attract
business.
&& =
In Belfast, Ireland, they're
working on an airborne bicycle.
Terence NOnweiler, senior
lecturer in aeronauticaI engi-
neering at Queens University
are some star students are
working on the two-man-power
machine which they calculate
will take to the air strictly on
muscle.
Inside working model, the
two men ride something which
has the general appearance of
a tandem bicycle, towering a
pusher propeller.
= +
With the National AutOmo-
bile Dealers Association and
the managers of AutOmOtive
Trade Associations, The Satur-
day Evening Post will conduct
a search for "one automobile
dealer who best typifleS the
business and civic qualities of
the thousands who serve the
Nation"
Purpose of the quest is to
point up the fact that, despite
the past malpractices of a few,
the vast majority of new auto
dealers are ethical and fair
dealing and usually are out
standing civic leaders.
The winner, to receive the
Benjamin Franklin Quality
Automobile Dealer Award" here
January 81, will be honored at
special ceremonies.
-
The last few weeks and this
one have seen new emphasis
on driver Safety-and in view
of Washington's current traf-
flc toll, it is timely indeed.
Newest one is the Plymouth
Safe Driving Test available to
Auto Show visitors. A dozen
persons at a time sit in simu-
lated drivers seats with steer
ing wheel, brakes and accel-
orator. Their reaction to filmed
traffic emergencies and routine
driving is registered on an elec-
trio score board.
Last week, Shell Oil brought
a new safety filmStrip and
guidebook demonstration to
Washington. 1t is offered to
schools. driving clinics, indus
trial fleets and safety organiza-
tions free. Write the Center for
Safety Education, New York
University. New York, or Shell
Evening star., 1960-01-11

This is tight money. There is
no other description for it.
Tight money is deliberately
designed to hurt. AS one top
official repeatedly says in pri-
vate, Tight money doesn't
make sense unless it hurts. If
it is to work to control infla-
ton, it has to hurt some bor-
roWers."
Distributed 1860 by The Hall
Syndicate. Inc All R!ghts Reserved)
Evening star., 1960-01-11

branch store building boom
may be slowing down.
Enthusiasm for the year
ahead far outstrips the mild
optimism retailers registered in
last years survey" Mr.. Dakins
said. For the first six months
of 1860, the survey indicates
volume increases averaging
about 4 per cent minimum, with
an average profit rise of about
8 per cent for those who work
at their business" the NRMA
executive said,
Evening star., 1960-01-11

Of Savings and Loan Control
lers. will hold its January din
ner-meeting at the Burlington
Hotel Wednesday night.
Committee assignments for
1860 will be announced and
plans for the rehabilitation and
home improvement fund of the
District Savings and Loan
League will be outlined by a
representative of the National
Bank of Washington, which
will serve as trustee for the
fund.
Evening star., 1960-01-11
Whirlpool Chief Named
To AU Advisory Board

Robert E. Brooker, president
of the Whirlpool Corp, has
been appointed to the business
advisory board of the School
of Business Administration at
American University.
The 81 = member advisory
board meets twice yearly at the
university and serves as the
schools pipeline of communi-
cation to top management and
enables the faculty to remain
in close touch with the think
ing of business leaders.
Evening star., 1960-01-11
Business
First National Sets
Records, Promotes 5
BY DONALD B. HADLEY
Star Financial Editor

Directors of First National Bank of Washington today
heard of volume and earnings
proved five officer promotions
Frank A. Miles Dudley L. Meade James w. Walden and
David promoted to presidents from
tant vice president.
Sylvia Karydaks administrative to the pres
Evening star., 1960-01-11
METAL PRICES

NEW YORK. Jan. IL CAP) Spot
nonferrouS metal prices today: copper
Lead ~ cents a pound New YORK
zinc - cents a pound East st. Louis.
Tin $685. cents a pound, New York.
Foreign silver 9I9s cents per troy
ounce. New York Pittsburgh scrap
steel No. heavy was quoted By Iron
Age at 43 00-44 90.
Evening star., 1960-01-11
YOUR
MONEYS WORTH
Money Tightening Again!
By SYLVIA PORTER

You will pay the stiffest price
In more than a generation for
money you borrow in the
months ahead.
You will find loans increas-
ingly tough to get, even though
you are willing to pay the high
interest rates demanded.
You will be in an exceedingly
precarious position if you are a
small-busineSS man, with a
need for funds to carry out a
project essential to your survi-
val. but without established
financial connections.
We are in a major cycle Of
tight and expensive credit.
Just about every basic eco
nomic and financial factor in
dicateS that there will be no
easing of presSureS on the cost
of money, no increase in the
availability of credit soon.
New CurbS Due
BY spring, we well may see
another turn of the credit
screws, even higher interest
rates. There are two funda-
mental reasons for today's
pinch on credit.
First, business is in a strong
broad upturn and as a result
demands for credit to finance
rising activity are ballocning.
Corporations will be asking
for additional loans to finance
rebuilding of inventories
slashed during the steel strike
and expansion of plants. Indi-
viduals will be asking for cash
to finance their purchases Of
1860 cars and other big ticket
items. States and cities are
continuing to ask for record
sized loans to finance projects
demanded by their swelling
populations.
Second. the supply of credit
needed to fulfill these rising
demands is distinctly limited.
The banking system already
is more loaned up" than at
any time since the 1920s. Banks
have been lending billions of
dollars throughout this recov-
cry and many have raised their
loan totals as high as they
dare. The Federal Reserve Sys-
tenn, though, is keeping the lid
on the credit it supplies to the
banking system because it is
as determined as ever not to
permit easy, cheap credit to
help turn this prosperity into
another speculative boom.
Supply Limited
Right now demand and sup
ply forces in the marketplace
are debating that the Treasury
pay 5 per cent for cash. That's
in the range of the highest
prices the Treasury has paid
in this century.
Right now the Federal Re-
serve System is charging indi-
vidual banks which borrow from
it at a rate of 4 per cent. 1t is
quite possible that the Federal
Reserve System will raise this
rate - known as the discount
rate - even higher before
spring. Obviously, when your
corner bank must pay 4 per
cent to get cash, it's going to
charge you considerably more
when you borrow.
Right now the Nations top
ranked corporations are paying
5 per cent plus extras for
short-term bank loans - and
the "eXtras" are raising the cost
of these loans closer to 6 than
5 per cent. 1t is quite possible
that the banks will raise this
rate - known as the prime rate
because it is the price charged
TO the bluest of blue-chip bor-
rowers above 5 per cent
before spring.
Evening star., 1960-01-11
WINGS & WHEELS
BY CHARLES YARsRoUGH

The Auto Show openine
Wednesday at the National
Guard ArmOry will exhibit g
creation making q gross un-
reinstatement out of the old
cliche beyond the widest i'm
agination."
Simca brings in from Paris
the Fulgur, a full-scale styling
mockup of an engineering
dream. Sensational enough to
see, its appearance pales when
compared with the unseen
gadgets the engineers team
with it.
1t would be controlled by an
electronic brain which is FED
travel instructions by the driv-
er and powered on future high
ways through magnetic induc-
ton from road-imbedded ca
bles. The current would drive
the rear wheels, each of which
would contain an electric motor.
On secondary roads, Fulgul
would get power from batteries
in the rear, giving a 5000
mile range.
Front wheels which steer the
car at low speeds, would retract
above 80 miles an hour, leaving
the car planning on its rear
wheels, kept steady on course
by horoscopes and air rudders
at the rear.
If an obstacle appears ahead,
the car would automatically.
Ribbon" headlamps, syn
chroniZed with the cars speed,
brighten as it goes faster.
Needless OF say, and Simca
Sales Director d. r. CrandaII
admits, ''it'S mechanical parts
are experimental and have not
yet been completely worked out.
Fulgur is a Simca idea car
which is undergoing further
studies by Simca engineers in
France.
= =
In these days of the rapidly
disappearing, small civil air
port. comes heartening news
from Manassas, Va.
There, the newly formed Air
port Management, Inc, has
taken over operation of the
Municipal Airport with opti-
miStic and energetic plans al
ready under way for improve
ment and modernization.
Chartered to operate one OF
more airports, the new corpora
ton is headed by Frank Mar
shall as president and treasurer
and present operator Dudley d
Watts as an officer.
Runway extension and sur.
facing is one of the major plans
Present strips are now 2,17C
feet and 2,26O and the project
calls for lengthening one to T.
900 feet.
Immediate change to meet
the eye is construction of the
first of $4,000 of individual
Kaiser aluminium hangers
which will rent for $50 month
Outside tie-down fee is SIC
Evening star., 1960-01-11
OVER COUNTER

Washington listinRs on over-the-
counter markets furnished by the Ma
tlOnal Association Of Securities Dealers,
Inc as OF l D m. Monday, January II:
Evening star., 1960-01-11
FOREIGN EXCH'GE

NEW YORK, Jan. IL (AP) ).-Foreign
exchange rates (Great Britain in dol
lars, others in cents and decimals of a
cent?:
Canada in N. Y.
Itreel l04 S593 1O4.9s43
Evening star., 1960-05-29
The Russion Air Force

Powell amendment were not
dropped by the conferees.
There is still another hurdle to
be cleared. There is a strong feel
ing that President Eisenhower
might be willing to approve a
moderate Democratic bill on two
major conditions:
Q If the Federal funds were dis
pensed on a matching basis and
the neediest States received the
highest proportionate shares.
. If the bill did not contain
money for teachers salaries.
Inasmuch as the Senate bill
provides money for salaries and
neither it nor the House measure
contains a needs" formula, there
is much to be done before a Veto
proof document can be readied
for Mr.. Eisenhower's signature.
Congress has six more weeks to go
before adjournment.
1t learned again last week, for
the 161st time since the Presi-
dents inauguration in 1858, how
difficult it is to overcome an Eisen-
hover veto. The Senate failed by
II votes to obtain a two-thirds
majority and thus override the
veto of the bill calling for the
dispensing Of $251 million in Fed
eral funds for chronically de-
pressed areas of the country.
Evening star., 1960-05-29
Nearby Votes

Following are the votes of Mary
land, Virginia and West Virginia
members of Congress on major
roll calls last week:
SENATE
S 722. Area Redevelopment Act
of 1860, authorizing Federal loans
and grants totaling $251 million
for the relief of economically de-
pressed areas. Passage of the bill
over the Presidents veto (two-
thirds majority required). Failed
to pass 45-39 ID 40-14; R $3.50,
May "a. (56 yeas" we're required
to override the veto). A may"
was a vote supporting the Presi-
dents position.
FOB: ByEd and Randolph, Democrats of
AGAINST: Butler Republican of Mary
land; BYRD and Robertson, Democrats
NOT VOTING: Bean Republican of Mary
land.
HOUSE
HR 1923. School Construction
Assistance Act of 1860, authoriz-
ing 1925 million a year for four
years in Federal matching grants
Evening star., 1960-05-29

fense Command had 27 wings,
somewhere between 2,025 and
2,430 interceptors. On June 80,
1860. the number will be % wings
between l,725 and 2,070 air
craft.
Now what about the Russians?
In December, 1859. the NATO
letter, published by the informa-
ton service of the North Atlantic
Treaty Organization in Paris, re-
printed a study by the Institute
for Strategic Studies, London.
The institute is a privately A.
nanced intelligence organization
and it's directors include Sir An
thony Buzzard, former chief Of
British Naval Intelligence, and Sir
John Slessor, former air chief for
Great Britain.
This study has been used and
quoted by Congressman as a
seemingly reliable source of un-
classified information.
In the NATO letter, the insti-
tute reported:
"In the field of missiles the
Russians have made notable prog
ress and they now have in opera
tional quantities missiles with
nuclear warheads intercon-
tinental and intermediate range
ballistic missiles have been in
service since July, 1858.
The principal Soviet missile
bases, about 100 in number, are
situated along the Baltic coast
in the area between Lake
Ladoga and the White Sea, in the
Thuringian Forest in East Ger
many. Southern Ukraine and the
Carpathians."
The institute said there were
about 100000 men in RusSia's op-
erational missile forces.
The Russion Air Force
AS for the Russian air force,
the institute listed:
Two hundred turbo-prop heavy
bombers with a range Of 5000
miles. a 20-ton bomb load and a
top speed Of 500 m.p.h.
Five hundred tour-Jet bombers
Evening star., 1960-05-29
The Foreign Scene

Friday, for President Eisenhower's
scheduled visit to Japan next
month. But there were serious
doubts in Washington last week
that the visit would ever take
place.
Conservative Premier Kishi, de-
termined to implement the new
mutual security pact signed last
January by the United States and
Japan, was running into increased
political opposition. A third po-
litical party Joined the Socialist
left wing opposition in the Diet
last week, and although the lower
house has approved the pact Tin
the absence of opponents) and
the upper house is also certain to
approve, there were increasing
demands that the Premier resign.
Concern has been expressed
both in Washington and Tokyo
over the security aspects of the
Eisenhower visit. Unless the al
most daily street demonstrations
and violence subsidies, the question
Of the trip will be much in doubt.
But the cabinet repeated the in
vitation, and newspapers, most
Of them critical of the Kishi gov
ernment, assured the President
of a cordial welcome.
Mr.. Kishi may yet weather his
political storm. And he is de-
pending on traditional Japanese
courtesy and hospitality to cool
of the student demonstrators in
advance of the Presidents visit.
Evening star., 1960-05-29

to the States for public school
construction. Passage of the bill.
FOR: Brewster. Fallon. Foley. Friedel.
Garmatz. johnson and Lankford, Demo-
, Gratis Of Maryland; Bailey. Hechler. Kee,
Slack and Staggers, Democrats of West
Virsinia; Moore. Republican Of West
virginia.
AGAINST: Abbitt, Downing, Gary, Hardy,
Harrison Jennings and Smith, Demo-
Gratis Of Virginia: Broyhill and Pof,
Republicans Of Virginia.
NOT VOTING: Tuck, Democrat of Virginia.
HR 1923. School Construction
Assistance Act of 1860. Powell
ID N. " amendment to require
that any school facilities built
with the help of money made
available under the act be open to
all students without regard to
race, color, creed, national origin
or religion. Agreed to 218-181.
FOR: Brewster. Fallon, Foley. Friedel,
Gsrmatz and johnson. Democrats of
MARYLAND; Stassers, Democrat OF West
virginia.
AGAINST; Lsnkford, Democrat Of Mary
land: Abbitt, Downing, Gary, Hardy.
Harrison. Jennings and Smith. Demo-
Gratis Of Virginia; Broyhill and Poff, Re-
publicans Of virginia: Bailey. Hechler,
kee and Slack, Demoerats Of West
Xirstnis; Moore, Republican of west
NOT VOTING: Tuck, Demosrat Of virEinis.