davidaulloa/AmericanStories huggingface dataset:
Evening star., 1960-08-11

ported to include more than
$4,000 families in the Washing
ton area. .
The executive said a large
part Of the stores volume re-
suits from the sale OF mems
women's and children's cloth
ing. The store has 20 depart
ments. including a gas station
and offers most standard serv-
ices-such as carpet laying and
delivery-at a fixed price.
I'VE have six shoppers shop
ping the stores around town for
prices all the time" Mr.. Rosen-
sweig said. That way we stay
competitive"
No Chance Customers
He frankly admits it is not
the stores location that at
tracts the customers. Situated
in a relatively ut-of-the-way
spot at Duke and Pickett streets
in Alexandria, the store never
is visited by chance and actu-
ally requires a special effort to
reach.
But we Offset that" the of :
ficial explained, by selling for
less in a one-level store that is
nothing more than a bare
structure"
Offering membership only to
Government employees with a
stable, steady income has pro-
vided the store a reliable year.
round base. Mr.. Rosensweis
says the firm has no intention
OF broadening that base to
include privately employed per-
sons.
He insists that discounting.
Evening star., 1960-08-11
Greyhound to Redeem
so Preferred Stock

NEW YORK, Aug. II (AP)
Of Greyhound Corp.
today called for redemption on
October 81 all of the 1852
outstanding shares OF S per
cent cumulative preferred
stock.
The redemption price is
$103.50 per share, which with
accrued dividends will total
81, ,1S0, ,701.
Directors also voted to pay
on October l all OF the bus
equipment obligations matur-
ing in 1861, totaling $S,503, ,750.
Directors fixed October "a as
the payable date and Septem-
ber 81 as the record date for
the 10 per cent common stock
dividend recently approved by
the interstate commerce COM
mission.
Evening star., 1960-08-11
Rockville Bank
Gets Branch at
Gaithersburq

Farmers Banking & Trust Co.
of Montgomery County, will
establish a branch in Gathers
burg, 1t was announced today.
Approval of the branch has
been received from both the
State Banking Commission and
the Federal Deposit Insurance
Corp, Of which the bank is q
member. Operations are sched-
uled to start before December /.
The branch will be housed
in a modern bank building on
North Frederick avenue and will
offer complete banking services.
It will be known as the Gath
ersburg Bank of the Farmers
Banking d Trust Co.
The new branch establish
ment will be the company's
fifth office. The main ONCE at
Rockville has been serving the
area continuously since 1900.
Branches also are located at
Kensington, Poolesville and
Rockville.
Plan stock Increase
Stockholders of Farmers
Banking have been called to a
special meeting at the main
Office at 1880 pm. on August Is
to vote on an increase in au-
thorizated stock to permit dis
tribution of a 20. per cent stock
dividend and an offering of
additional stock to holders at
SIS a share.
In announcing the proposal
and meeting call on July II,
bank officers pointed out that
assets now exceed $40 million
and that steady growth has
made advisable a further in
crease in capital funds.
Directors resolutions call for
authorization Of $3.50 additional
shares Of SIS par value, OF
which 2,940 would be distributed
as a stock dividend at the rate
of one new share for each five
held. The remaining 2,940
shares would be offered to hold
ers Of record August Is.
Competition Seen
Gaithersburg also has the
main Offices of the Maryland
State Bank. in which an un-
disclosed investor Is seeking to
buy control.
American Security & Trust
Co. of Washington early In
July announced 1t was Offer
ing $34 a share for 10 per cent
Of the stock Of the Gathers
burg institution on behalf of
an undisclosed client. It is
understood solicitation is pro-
ceeding in this matter.
Evening star., 1960-08-11
CHICAGO
LIVESTOCK

CHICAGO. Aug. II CUSDA)
Hogs $500: butchers steady to
strong, instances 25 higher on 800
260 lbs; sows strong: good shipping
demand: mixed lots 1-2 and 1-3 190-
ESQ lb butches 17.75-1S. .OO; twenty
head 1-2 around o1O lbs 1910; mixed
mixed % and Is 27O-3O0 lbs 1900
1850: a load IS lbs 1898: a shipment
3S around $50 lbs 1925: mixed grade
"a and rs 100000 In sows Is 90
700: mixed grade % and As 400
$50 lbs 3.50-1500.
Cattle 500; calves none: SLAUGHTER
steers and heifers steady; high yield
ing cutter and mixed utility cows
strong to 80 higher; other cows steady:
bulls and vealers steady: no sales
stockers and feeders; a load OF mixed
choice and prime .2"5 IN steers $3.50;
two loads high choice with A prime
end 1.44a lbs 1925; most Good to
average choice 22.25-25. 30: average
choice 24.75-25. so; . few mixed stand
ard and good 21.50-22 .25; good to
choice 2O.75-24. 90: choice q. 3.O0-24 90;
utility and standard 10000. so; util-
ity and commercial cows 13.50-15.7b;
q few Holstein utility cows 1900
1925; Gamers and cutters 1926
1915; utility and commercial bulls
S6.55o-SS0.5o; good and choice yealers
-. ".O0-25.O0: culls down to 1900.
Evening star., 1960-08-11
Melpor to Develop
"BuNpun" Truiners

Melpar. Inc, has received a
s417,347 contract from the Air
Force to design and fabricate
three trainers for the Bull
pup" air-to-surface missile.
The trainers will be de.
veloped to allow pilots of air.
craft equipped with the Bull.
pup" missile to practice guild.
ance and control through simu.
lated launchings. H. r. Gary
Of Melpar is directing the pro.
gram.
Evening star., 1960-08-11

despite recent financial troubles
by members of that retailing
clan, "is not losing any Of its
polish"
Larger stores like G. e. M.
he said. have been able tc
spread discounted prices over
a broader area of merchandise
than the smaller stores.
Another Firm
A Philadelphia born business
man with interests in two sub
stantial local firms. Mr.. Rosen-
sweig is also president of Elec-
tronic Wholesalers, Inc.
Like G. E. M. the wholesale
flrm has enjoyed considerable
growth since its establishment
in l948. Largely a distributor
of electronic parts to industrial
users, the firm now operates in
Washington. Baltimore, Wins
on-Salem. Atlanta, st. Peters
burg, Melbourne, Fla, and
Miami.
The corporation reportedly
has a volume of about $40
million a year.
To Mr.. Rosensweig, q dapper
energetic man who is active in
many civic causes. success in
two quite separate fields oi
business does not seem unusual
1t was merely a matter of op-
portunity and interest, he said
Il came back from Europe
a couple Of years ago." he re-
called. and some friends came
up with the idea of this dis
count Government employees
store. l liked the idea, in.
vested my money-and I'm
very glad I did"
Evening star., 1960-08-11
j YOUR
MONEYS WORTH
Anderson's Glory
~ SYLVIA PORTER

Secretary Of the Treasury
Anderson and his debt manage
ment team are having a better
time in the securities markets.
After q long period during
which the financial. political
and economic tides were run
ming so powerfully against Mr.
Anderson that in retrospect
it's surprising he stayed afioat
the now has switched strongly
his way. And he's taking full
advantage of what's going on
Last week, for instance, the
Treasury sold close to $8.8 bill
lion Of securities carrying cou-
pons Of 80 and 3Ts per cent to
raise money to pay of $10.4
billion of maturing I.O.U.s
most Of which carried coupons
of 43z per cent. So overwhelm-
ing was the response from
buyers that Mr.. Anderson had
the pleasant privilege of giving
subscribers only a fraction OF
the securities they had ordered
AS you'll notice from the differ
ence in the coupons on the new
and old securities. he also had
the pleasant experience of cut
ting the interest cost on the
debt; this one operation will
save 5000 million in interest
charges on the public debt
during the next year.
Debt Reduced
And as you'll notice too from
the difference in the total he
borrowed and the total of ma
turing I.O.U.s, he had the final
pleasure Of cutting about Sic
billion of the public debt.
Consider it: A spectacularly
successful borrowing which cuts
the interest cost and reduces
the national debt. What more
than these three ACHIEVEMENTS
could q Republican Secretary of
the Treasury want?
Now. Mr.. Anderson and his
team are working on an opera
ton of historic significance
The Treasury is getting set to
offer new long-term bonds to
holders Of the low coupon
bonds that we're sold during
World War II and which are
not scheduled to mature for
several years. One aim is to en-
courage bona fide investors who
hold these bonds to take new
issues in advance OF their
bonds maturity dates and to
put them away. Another aim is
to slash the pile of debt which
natures in the late 1960s and
early 1970s.
Consider it: A major inno-
vation in debt management
which will keep investors the
Treasury wants to keep in
United States bonds will i'm
prove the entire debt structure
What more could a Treasury
Secretary want in the closing
months Of his tenure in office ?
Congress Stood Firm
Mr.. nderson has been
dreaming about these things
for years, but he couldn't t
Evening star., 1960-08-11
TALKING OF BUSINESS ~
CIub-Like GEM. Member Store
Plans 3 More Discount Outlets
By WILLIAM MacDOUGALL
Star stan Writer

0thE Stau WTltet
A well-dressed woman. her
3-year-old son in tow. flashed
an identification card at the
girl behind the counter.
The girl pressed q button re-
leasing a lock, and the woman
led her son past an opaque
glass door that opened before
them.
It might have been a speak
easy or the CIA-but it was
neither. At G. E. M, Inc, one
Of the Washington areas new
est department stores, the shop
ping day was Just beginning.
G. E. M. (which stands for
Government Employees Mart)
is a discount membership-only
store. Opened Just q year ago,
the business unofficially re-
ported to have attracted sales
OF more than $40 million in its
first IL months Of operation. !
More Stores to Open
Stanley Rosensweig, president
OF the firm, says it has en-
joyed phenomenal success" I"
Response has been so great.
in fact, that the company is
opening three more stores in
the Washington Baltimore area
in the coming year.
One will open in October
at Queens Chapel and Chillum
roads in Prince Georges County.
Another is scheduled to open
some weeks later on the Rock
vile pike near Rockville. and
a third is expected to begin op-
Grafton in May Of 1851 in Balti-
more.
Thus within a year, accord
ing to Mr.. Rosensweig, G. E. M.
will be the third largest depart
ment store chain in the WASH
ington Baltimore area. Some
ofiicials repeatedly are forecast
ing a volume of $45 million a
year for the company when all
branches are in operation.
This is spectacular growth in
anybody's ledger. And Mr.. Ros-
ensweig, AZ. a veteran of 81 years
in, retailing. says the reason
basically. is the SO membership
fee which each customer must
pay. Annual renewal costs 81.
Smaller Credit Losses
Making the right to shop
costly makes it worthwhile for
members to buy there" Mr..
Rosensweig said. Also. our
credit loss is about one-third OF
the Department of Commerce
average"
Although local merchants
won't admit 1t publicly, snob
appeal, too, has contributed to
the stores success. With admis-
sion limited to members, the
operation has some Of the out
ward marks Of a private club
at least in the eyes Of many
members.
G. E. M. is carefully foster
ing that impression. Mr.. Rosen-
sweig says the firm Is planning
a scholarship program for
members children as we'll as a
night study program for adults.
I'VE want to have a club
like atmosphere for buying" he
said.
Membership is unofficially re-
Evening star., 1960-08-11
Capital Directors
Approve Merqer Plan

Capital Airlines' board of
directors today approved the
merger with United Air Lines
on the same terms announced
July %.
The transaction still requires
approval of the Civil Aero
nautics Board and United's
stockholders as we'll as those
of Capital.
Evening star., 1960-08-11

resigned recently to accept the
presidency of the First National
Bank of Washington, effective
September l..
Mr.. Harris will take the
banks helm this week end, but
Mr.. Offutt will remain in an
advisory capacity until he takes
over new duties at the First
National.
Mr.. Harris started with the
bank as a bookkeeper and rum
ner and advanced to teller.
head bookkeeper. head teller.
branch manager and other
positions. He successfully
headed the credit and real
estate departments before be-
coming cashier. He also has
been appraiser.
Active in Associates
Mr.. Harris has been active in
both the District and American
Bankers Associations. In addi-
ton to committee work in the
former organization, he has
been a member Of the senior
officers' luncheon group. the
fiduciaries and auditors sections
and convention committees. He
also has been q member of
the senior officers forum at
Georgetown University. He has
participated in the ABA's an
nual credit conferences for a
number Of years.
He has been active in Chesa-
peake Chapter. Robert Morris
Associates, group of Washing
ton and Baltimore bank lend
ing officers. He has taken an
interest in Washington Chap
ter. American Institute Of
Banking.
A native Of Olar, s. c., Mr..
Harris attended the University
of South Carolina, the Amer
ican Institute Of Banking and
National University Law School.
He also is q graduate Of the
School of Banking at the Uni
versity of Wisconsin and is a
member Of the District Bar.
He Is a resident Of Prince
Georges County, Md.
Served During War
Mr.. Harris served in the
merchant marine in World War
II and advanced from able
bodied seaman to first mate
and then senior lieutenant.
He is chairman Of the steer
ing committee and president Of
the Mems Bible Glass at the
Upper Marlboro Mission Of the
Pennsylvania Avenue Baptist
Church and is senior warden
of Masonic Centennial Lodge
No. 174 at Upper Marlboro.
He also has served the United
Givers Fund as q worker. cap
tain and currently as area
chairman. He is a member OF
the Metropolitan Washington
Board of Trade. Anacostia Lions
Club, the Prince Georges Rod
Evening star., 1960-08-11
J. c. Penney Sales
Exceed Year Aoo

July sales Of j. C. Penney Co
amounted to $103.410,232, ar
increase Of 1855 per cent from
$101 ,726,230 in July last year
Seven months sales totaled
$500. 1904. 1893. a gain Of 1.67
per cent from $685. BOOSTS a
year earlier. The big chain had
1884 stores on July 81 VS.. 1881
a year earlier,
Evening star., 1960-08-11
Long Island Pepsi
Declares Dividend

Directors Of Pepsi Cola Bot
Ting Co. Of Long Island. Inc.
of which there is a major
Washington interest. have de-
clared a regular quarterly divi-
dend Of 10 cents a share.
The dividend will be paid
September Is to stockholders
Of record Septemher l.
Evening star., 1960-08-11
Anfnes Report
Biqqest Month

Trans World Airlines and
Trans Caribbean Airways were
among the first airlines an
nouncing that July passenger
business was larger than for
any month in their history.
TWA reported 585,914, 900
revenue passenger miles for the
month. a gain of 90 per cent
from the previous, high in June
and 12.5 per cent above July
last year..
Trans Caribbean reported
revenue passenger miles totaled
26,355,000. a gain of 48 per
cent from 17,801 900 in July last
year. Passengers numbered H.
588, a gain of 81 per cent from
a year ago.
Evening star., 1960-08-11
June Traffic Volume
SLIGHTLY Behind 1859

, Weekday vehicular traffic in
the District of Columbia was
slightly behind a year ago in
June, but Saturday and Sunday
traffic was moderately higher.
according to data from the De-
partment Of Highways and
Traffic.
Weekday 24-hour counts at
key stations were off 0.3 per
cent from a year earlier. Sat-
urday counts were UP 90 per
cent and Sunday totals rose 81
per cent.
Evening star., 1960-08-11
ADVERTISEMENT
>
Free to Corporate Executives
"A Guide to Business Car
Operating Methods"
by Allan E. Fitzpatrick

An authoritative, objective "a
page booklet, analyzing all three
basic plans for operating business
feet cars. Gives definite criteria
for costs and type of use-to help
you reduce your own costs ma
terially. For your own copy, with
no cost or obligation. write on
your company Ietterhead to: Fleet
Sales Division, Studebaker.Pack.
ard Corp, South Bend n, Indiana.
Evening star., 1960-08-11
METALS

NEW YORK, Aug. IL (AP).-Spot
nonferrous metal prices today: Copper,
ley. Lead. IL cents a pound, New York
Zinc, 13 cents pound, East St. Louis.
Tin, 1.03A q pound. New York. For
etgn silver, Q13s cents per troy ounce,
New York. Pittsburgh scrap steel No. !
30.00-31 90.
Evening star., 1960-08-11
J.. N. Harris Succeeds
OHutt as President of
Anocostio National
BY DONALD B. HADLEY
Star Financial Editor

John M Jack) Harris vice president and cashier Of
costa National Bank has been promoted president of
bank effective at the close Friday announced following
q board meeting last night.
Mr. Harris 50 started his banking with Anacosta
National in February 1881 He will A.
Evening star., 1960-08-11
American Motors
Choose CrustSOst

! believe it is q singular honor
for an automobile deoler to be
chosen to serve his oreo on O
wholesale os we'll as O retoiI
level. American Motors hos
chosen Cronson RombIer as the
wholesale ports distributor for
the entire Metropolitan Wash
inoton oreo. We're proud of
American Motors confidence in
Cronson RombIer, 4932 6ethes-
do Avenue, Bethesda, Mory-
land.
Al Cransen, President
Evening star., 1960-08-11
FOREIGN
EXCHANGE

NEW YORK. Aux. IL fAPD-Foreirn
exchanse rates Great Britain and Aus
trallan in dollars, others in cents and
decimals Of q cent?: N
Today PRAY Nav
Evening star., 1960-08-11

and Gun Club and the Robin
dale Country Club.
He and his wife, the formel
Anna May Staum. have a son
John s. Harris, II, and daugh
ter Lauren May Harris, II. tn,
new bank presidents hobbie!
are hunting and raising goot
bird dogs.
Evening star., 1960-08-11
OVER COUNTER

Washington listinss on over-the-
counter markets furnished BY the Ma
tional Association of Securities Dealers
as Of 1 pm. Thursday, August II: .
Evening star., 1960-08-11
TREASURY BONDS

NEW YORK. Aug. II tAP):-Yester-
Goyernmsnt TfessurS bondsn United States
Evening star., 1960-08-11
MUTUAL FUNDS

NEW YORK. Aug. II uP,.-Rstisaal Asss.
elatisR Securities Dealers, lac.
The Illinois times. (Champaign, Ill.) 19??-19??, 1960-08-26
CAROL DAVIS
WINNER FOR
PONY TAIL
BY BILL LYON
News Gazette Staff Writer

SPRINGFTELD-Two favored
East Central Illinois steers failed
in their bid for state fair cham
pionship here Saturday noon, but
one trophy was already assured
area exhibitors.
Carol Davis, Il, daughter of
Mrs. Mildred Davis, 702 n. State,
won the pony tail class with So
inch set of treSses.
Two Champaign County 4-HerS
who had won championships on
the summer fair circuit placed
fourth in Junior Department Steer
Judging.
Romeo. middle weight
Shorthorn steer shown by Eddie
McClendon, Urbana. was fourth
in a class Of a. "AIodeSt Flash.
a heavyweight Shorthorn exhibit
ed by BIN Wilson. Champaign.
WAS fourth in lis division.
S41.7l5 In Prizes
The Illinois times. (Champaign, Ill.) 19??-19??, 1960-08-26

to me. but they are becomming much
more generous with our race news
wise When Negro people find their
news IN the daily paparS. or in any
paper as for that matter, they feel
that they are part of the cty'S
Citlzenry They feel somewhat i'm
Portant. Just as do white people. AS
we end our 21-yearS of service in this
fleid We have no particular quarrel
with anybody Those who have been
helpful to rs have done much To hclp
Us TO help our group, and those who
have been unhelpful to us, we'll, they
have to account for this feeling to
one higher than | To those who do
not know, we started the Illinois
Times in DanvilIe with the first
issue, 9 sheet, August 3rd 1899.
We moved to this city in l94l and
we have been here ever since. 1t is
with pride that we are able TO tell our
The Illinois times. (Champaign, Ill.) 19??-19??, 1960-08-26

many friends of the help and encour-
aeemcnt they have given US while we
vet live to enjoy II. We thank you a
thousand times.
The one and most important mat
Ter that confrontS our group today
is the matter of employment II is
we'll known by all the people, white
and Negro. that Negroes are not
employed as they should be here 10
our cities Regardless of the facts
of their preparedness. they are not
hired in many fields There are
many Unions here to which Negroes
do not belong. They are either denied
or are not encouraged to
join them. This is not fair. No city
can be at it's best when a large
portion if its citizens are denied the
chance TO live as we'll as the rest of
its citizens. When Champaign opens
The Illinois times. (Champaign, Ill.) 19??-19??, 1960-08-26
NetO Stamps To Honor
3 US. Statesmen

WASHINGTON cUPD = The
Post Office is going to issue spe-
cial stamps honoring three u. s.
statesmen who have died in of
flee within recent years.
Postmaster General Arthur E.
Summerfield announced Satur-
day that 4-cent memorial stamps
would be issued to honor Secre-
tary of State John Foster Dulles
and Sens. Robert A. Taft, (R-
Ohio, and Walter F. George
D-GaD.
The Illinois times. (Champaign, Ill.) 19??-19??, 1960-08-26
EDITORIAL.
LOOKING BACKWARD

AS we stand here on the CENTER
SPOT" of our 21-yearS of service to
our people through the Illinois Times
we look backward and wonder.
Wonder how We were able TO get
through TO this mark. We have
reached the conclusion that il has
been only through the goodness and
kindly help of Good Master buckl-
ed with hard work that has brought
US through. Remember it is only tor
the purpose of giving some of the
history of the paper and of our
friends with whom we have dealt
during these 21-yearS. that we are
looking backward" | feel sure that
you, our readers, will pardon me if
| say that We have had many aid
varied experiences throughout these
years with our clientele Some of
them have been extremely helpful
and cooperative and some have been
extremely hard TO deal with. Some
of them have been SO hard that we
have just marked them off our
records Some have been SO prejudic-
ed on the race issue that we could
not do business with them Others
have been afraid we would make
little money for our work that they
would have nothing to do with Us.
Notwithstanding the fact that we
needed paper TO help guido our
people in the right paths to better
life. However hard the task was in
the beginning, we have made, We
feel. good and steady progress to this
time Now, we are ready 10 give
up the work of running a paper to
some younger person or persons who
might wish to carry it on to more and
better service to our group and
incidently, TO themselves. We have
found many of our friends, white
business men and women, who have
been willing and extremely helpful to
US by buying space in our paper to
advertise their goods We have
thought all along. and still think that
il is better business for any business
who wish TO sell to the Negro race to
advertise in the Negro paper, regard
less of the fact that We have TWO good
papers that run daily that advertise
almost everything 10 be advertised
in the city Although We should like
TO think that we have not too much
racial prejudice in the city Nc still
have too much Many Negroes have
trouble buying homes and living any
where they may choose in our twin
cities. and many white people are
not too friendly, generally, with The
Negro race as a whole. So long as
this is true, any business IS better off
to use the Negro paper to reach the
Negro people. many of whom have,
and are making money TO be spent
for their survival. They naturally
feel better TO GO into store that has
asked for their patronage through
medium published more directly for
themselves than for all the people, OF
for the white race in particular. We
have had the finest relations viii
both the daily papers here since ~t
started in business here 2l-yeaTS ago
If We had not had their friendship
We would have had il much hardc
even if We could have made II a
all. We are deeply grateful to 'he>
papers and their publishers ana
managers for their kind spirit of help
fulnesS throughout the years. The
are not only kind 10 our paper ant
The Illinois times. (Champaign, Ill.) 19??-19??, 1960-08-26

up IFS work to Negroes it will be one
of the finest cities in this country in
which anyone can live. We shall
hope this will be on the minds OF
our leaders until its done.
The Farmville herald. (Farmville, Va.) 1957-current, 1960-04-15

Ar neutrality-suspicious. made to order
for al-weather comfort. Get q demonstra alton!