davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-02-11
Mutual Funds
Rise 10 Pig
In ; Nations

NEW YORK. Feb. IL (AP)
Mutual funds have become so
popular a form of investment
that there are now 219 OPEN
end investment companies in
North America.
A survey by the Investment
Dealers Digest, to be published
Monday, shows 1877 mutual
funds in the United States, 20
in Canada and 2 in Mexico.
At the year-end, the survey
reports, these 219 mutual funds
had assets of $16.877,519.333, a
gain of $896,315,502 since last
June 80.
There are two types of in
vestment companies-open-end
and closed-end. The open-ends,
or mutual funds as they are
popularity known, continuously
offer new shares to investors
and are ready at any time to
redeem shares, usually at net
asset value.
The cloSed-end companies
raise capital by offering pub
licly for a limited time a fixed
amount of securities. Stock of
a closed-end company is bought
and sold on stock exchanges
or over-the-counter, like stock
Of any business.
The 1877 United States mu-
tual funds had assets on De-
cember 81 of SIG, 1885, 37.
These included eight mutual
funds that are officially Cana
dian but whose shares are held
and distributed primarily in
the United States.
! The 20 funds, whose shares
are distributed in Canada but
not in the United States. had
assets of $523.584,621. The two
Mexican firms had year-end as
sets of $9,568,475.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-02-11
McCALLUM LOOKS TO SUBURBS
Booming Decade Forecast
For Small Business Here

Small businesses in the
Washington area will prosper
as never before in the next 10
years.
That is the confident pre-
diction of Small Business Adj
ministrator Philip McCallum,
whose appointment to the post
was confirmed by the Senate
last month.
He believes that opportunities
were never better for small
businesses throughout the Ma
ton and the Washington area
in particular.
THE outlook is very good in
the $685." he said. With an in
crease in the population pre-
dicted and the trend of move
ment to the suburbs, there is a
need for more small businesses
to serve those people"
Metropolitan Washington, he
said, is especially fortunate
because of its fast-growing
suburbs and its -increaS-
ing nucleus of electronic and
defense industries.
Small investors should take
q careful look at business OPP
portunities in the suburbs" he
advised. This type of business
IN the suburbs does not require
as much capital investment
as a manufacturing concern.
Served Large and Small
Mr.. McCallum, As, is a for
mer Ann Arbor (Mich0 lawyer
who was picked by President
Eisenhower to succeed Wendell
B. Barnes last November. Mr..
McCallum has had experience
with both large and small
businesses, having served nearly
seven years on the legal staff
Of General Motors before set
ting up his own practice.
II became interested in busi-
ness matters" he said, while
representing several small busi-
neSSes in my law practice"
In 1852, he says, he plunged
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-02-11
YOUR
MONEYS WORTH
Two-Cor Families MuItipIyino
~ SYLVIA PORTER

DETROIT.-A giant reason
for forecasting that annual auto
sales in this new epoch of the
specialized car soon will top
7 million, then will move to-
ward 8 million in the mid SOS
and will be looming past 9 mil
lion by the '70s is the American
family's growing need as well as
desire for more than one car.
At the highest levels in De-
troit. the dimensions of the de-
mand among middle-income
families for two or more cars
are still considered ''iffy."
Humbled by their failure to
recognize the potentials of the
market for the compact and
small car, now fretting that
their initial predictions for 1860
sales of SIS million domesti-
cally produced cars may turn
out too optimistic, most officials
hesitate to make firm projec-
tons on multiple-car owner
ship.
At the expert research level,
though, there is no similar
tendency toward conservation
about this force in the growth
of the United States car mar
ket.
2-Car Market Ballooning
Actually, the second-car mar
ket already has ballooned to an
extent many of you may not
realize.
Almost II per cent of all
American families today own
two or more cars. OF families in
the $500 $4,000 income
bracket, 26 per cent are multi
ple-car owners, and in the $10,-
000-plus class the percentage
is close to 40 per cent.
OF all cars on the road to-
day, 80 per cent are owned by
multiple-car households.
Just since 1856, the number
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-02-11
TREASURY BONDS

NEW YORK. Feb. IL (AP) .-Yester-
days closing over-the-counteT United
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-02-11
Guaranty Life
Elects BuImun
As Director

Election of Joseph D. Bull
man, Washington attorney, to
the board of Guaranty Life
Insurance Co., was announced
today following the moving
of company Offices to larger
quarters.
President Harry Merkin saic
the new home Office in the
Bowen Building, 821 Fifteenth
street NV, is required to han.
die company growth which has
increased ordinary life inSur-
ance in force to a new high Of
more than 50 million.
Mr.. Bulman practices law ir
the District and is on the fac.
ulty of the National University
Law School. He is a graduate
of George Washington Univer.
sity and a past director of thu
District Bar Association
Milton Elsberg, president Of
Drug Fair and a member Of
the Guaranty Life board, has
been elected to the insurance
firms executive committee.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-02-11
FSLIC Assets
Climb Above
S348 Million

The Federal Savings and
Loan Insurance Corp. increased
its assets by $47,109, 1872 during
1859, bringing the total to
$348.65O,27O at year end, Chair
man Albert ]. Robertson of the
Federal Home Loan Bank
Board announced yesterday.
The increase was due in part
to the fact that, since the cor
poration had made the final
payment and retired the last of
its capital stock in 1858, it no
longer had to allocate funds
to meet this obligation.
Reserves and unallocated in
come rose from $284,216,645 to
$328.339,181 over the same H.
month period as the CORPORA
ton added $44,122, $40 in new
funds to its reserves.
Operating expenses in 1859
totaled 81, 483,790. Total income
amounted to $45,6 ,662. OF
this total, $37,759,229, or 82.6
per cent, came from insurance
premiums.
Membership continued to
grow, showing net increase of
SO in the year. This brought
the roster of members to 1919
at December 81, 1859, of which,
1.841 were Federals and 2,l38
were State-cllartered institu-
tons.
These institutions had assets
Of $59,547,436,O00 and held
$51,l52, 487 1000 in savings for
some 24,323.OO0 savers. Thenet
inflow Of savings to insured
institutions in 1859 was almost
$6.4 billion, more than 10 per
cent greater than in the
preceding year.
During the January-Decem-
Der span, the corporation was
not called upon for financial
assistance to its members and
1t experienced no losses. Its
operations are entirely self
supporting.
The FSLIC was established
by Congress in 1884. Under
supervision and direction of
the Federal Home Loan Bank
Board, it insures savings of
shareholders in member insti-
buttons up to $4,000. No holder
OF an insured savings account
has ever lost any part of the
insured portion of his account
since the corporation came into
existence.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-02-11
Giant Food Heads
Will Be Guests

Officers Of Giant Food, Inc,
will be honored guests of the
Grocery Manufacturers Repre-
sentatives of Washington at a
luncheon at the Continental
Hotel on Monday, February is.
James H. Gale, who heads
the Washington field Office of
the Federal Bureau of In
vestigation, will speak.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-02-11
Easing Rates Renew
Fear of Gold Outflow

currencies and we could lose
some more. That's because, I'M
like American citizens, foreign
central banks can turn dollar
holdings into gold.
The foreign reserves grew
at our expense because we kept
increasing our imports while
our exports were falling. be-
cause of our OUTLAWS in official
foreign aid, and because of
private A erican spending
abroad in investments, plant
construction and travel.
Officials and foreign traders
themselves think that exports
should pick up this year and
narrow the gap somewhat.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-02-11

ures. These are the calcula-
tons he cites:
/. There are 100000 more
small businesses in operation
today than there were 10 years
ago. a net increase of 10000
a year.
2. Out of a total of 1856, 00O
businesses in the Nation, 95 per
cent are classified as small.
The hardest question we are
asked" Mr.. McCallum said, "is
Just what is a small bust
nesS?'"
The answer. he said, is COM
plicated by varying formulas
which the SBA applies to re-
quests for financial help, tech
nical aid and other assistance
In financial matters, for ex-
ample, a small business may
range by definition from one
employing $50 persons or fewer
to another category with a pay
roll of 1000 or under.
Problems Ahead
"I'd be the last to say there
aren't any problems ahead F."
Mr.. McCallum admits. I'VE
must see to it, for example,
that small businesses have the
opportunity to compete. It's our
Job to keep these doors of OPP
portunity open"
Another problem, he said, is
the need for tax relief for small
businesses, among others.
I'VE hope that some op-
portunity will arise for that, ="
he said.
A third problem area is what
Mr.. McCallum describes as
access to capital markets. 4"
There is not enough money
available to small firms, he in
dicated.
But all in all, he concluded,
the prospects for small business
are good in coming years.
ITS a pretty healthy econ
omy," he declared. land we ex-
pect it to continue that way"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-02-11
OVER COUNTER

Washington listings on oyer-the-
counter markets furnished by the Ma
tional Association of Securities Deal
ers as OF l pm. February II. 1860:
bid Askad
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-02-11
First Investors
Expands Office

First Investors Corp. of New
York has expanded it's Wash
ing Offices at 1925 G Street.
NV, to include several suites
on the fifth floor of the Albee
Building, it was, announced by
Harvey L. Medium, branch
manager.
The firm is a large distributor
of mutual funds.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-02-11

of families owning more than
one car has jumped 80 per cent,
from 5 million to almost 7 mil
lion, and multiple-car owner
ship recently has been rising
by around 100000 a year.
The second-car market, in
short. is tremendous now and
every sign says it will become
much more so.
An obvious factor will be the
continuation Of the swing to-
ward suburban living. While
our suburban population prob
ably won't skyrocket in the SOS
as it did in the sos, it will
expand. In the suburbs, many
families are being compelled
into two-car ownership by the
breakdown Of public transpor-
tation. With railroads and buses
abandoning commuter lines,
slishing schedules and/o con-
stantly raising fares, a car "for
the bread buyer as well as the
breadwinner" isn't just a con-
venience. It's an essential If the
family is to live where it does.
Working Wife a Factor
Not so obvious a factor is the
need Of the working wife for
car Of her own. The husband
and-wife working team also
often moves into the income
class squirting two-car owner
ship.
Not so obvious is the fact
that in this decade, rising
millions of our children will DE
moving into their later teens.
The desire of the II to 10 year
old for his own car needs no
comment from me. Here may
be a primary supporter of the
old-used-car market.
And now the great force is
the specialized car"-the car
for the young marrieds and
the single individual, for the
Evening star., 1960-09-28
A Brilliant New Century

Crown Prince Akihito, apparent
to the japanese throne, gave both a
forecast and pledge when he predicted
"a brilliant new century of Japanese
American friendship and cooperation
for world peace and prosperity" He
made the solemn statement upon his
arrival here to help us celebrate the
Tooth anniversary of diplomatic rela-
tions between his ancient country and
ours. The young Prince spoke with OBJ
vious sincerity, for he long has been an
outSpoken admirer of Americans and of
American democracy. That he will carry
these sentiments with him into the
sacred Office of emperor is harbinger
of a new era of Japanese-American
amity.
Washington is happy to welcome the
Prince as guest of the city for more
than reasons of diplomacy. We are glad
to meet his commoner wife, Princess
Michiko, who has done so much to assist
her husband in democratizing the royal
household. Both the Prince and Princess
understand and like Western people and
Western ways-and we reciprocate their
interest and friendship. We hope the
royal pair will thoroughly enjoy their
stay in our midst and their travels else
where in our country.
Evening star., 1960-09-28
Loudoun Out of Step

Prince William County's decision to
join the Washington Metropolitan Re-
gional Conference leaves only Virginia's
Loudoun County outside this important
cooperative group. We hope that Lou
doun soon will follow Prince Williams
good example to help in solving the
metro" problems confronting nearby
communities as the area continues to
grow. Loudoun County would benefit
itself, as well as contribute to the or
derly development of the Metropolitan
Area, by becoming an official member
of the conference.
Loudoun and Prince William Coun-
ties, traditionally rural in character, al
ready are feeling the pressures Of urban
expansion as governmental and COM
mercial activities continue to push out
ward from the District. Loudoun now
is beginning to react from the impact
of the Chantilly airport project, part Of
which reaches into the county. Resi-
Dental and business developments are
sure to pose new problems for Loudoun,
Juob do UA1Cy 11dNC oA4CCGCu UA4C SOu1ACACo
closer to Washington. Prince William
also is on the f.lnges of the urban
sprawl" 1t has found that it has a
number of pressing problems in COM
mon with adjacent communities, espe-
cially in the sanitation field.
At present the Washington Metro
politan Regional Conference is composed
of governmental representatives of Fair
fax and Arlington Counties and the
cities of Falls Church and Alexandria in
Virginia; Of Montgomery and Prince
Georges Counties in Maryland, and of
the District of Columbia. Members of
the conference meet frequently and
threSh out metropolitan problems, to
the mutual benefit of the communities
represented. 1t is good to learn that
Loudoun County realizes the value of
regional teamwork and that 1t plans to
join the conference and contribute to
its support as soon as its financial Situa-
ton permits.
Evening star., 1960-09-28
Champagne and Beer

1t was 33 years ago, in 1927, that the
Pittsburgh Pirates last won the cham
pionShip in the National League. Even
while losing their third game in three
days, they won the league pennant
again last Sunday because their only
remaining challenger, the St. Louis Car
dinals, was defeated in Chicago. The
Pirates celebrated with champagne in
their clubhouse. On the same day, the
New York Yankees won the American
League flag-for the first time since
1858. The boys who write baseball re-
ported that they celebrated with beer.
In a way, the contrast is under
Evening star., 1960-09-28
Sewage Disposal

I read in one of the recent
editions of The Star about
a proposal to use ponds for
temporary disposal of raw
sewage in a Virginia location.
While I am not an expert on
such matters, I believe this
to be an excellent idea. AS a
matter of fact. similar sys-
TENS Of sewage disposal have
been used extensively in
many European countries for
so years or more.
But instead of using ponds,
mostly disposal fields" are
used, i.e., the raw sewage is
pumped on large fields where
it ultimately dries, and final
ly is used as fertilizer SINH
lar to farm manure. This SyS-
tenn is not only used in small
towns, but in large cities as
well. Apparently there are
little or no bad side effects,
such as bad odor or bad in
fiuence on nearby water
wells.
If such disposal fields can
be used in Europe, where the
population density is 3 to 4
times that in the United
States Of America, then there
appears to be no reason why
it should not be used here as
a simple and inexpensive
remedy for the bad pollution
of our lovely rivers, such as
the Potomac.
Evening star., 1960-09-28

standable. Winning pennantS is "old
stuff" to the Yankees and their ire
presSible manager, Casey Stengel. AS
combination, they have taken 10 in
the past IL years and the club has 25
in its trophy room. The Pirates may be
forgiven if they were more thirsty.
Statistics of the past will count for
little, however, when the two clubs open
the World Series on October S. For their
own sake, it may be just as well If the
Pirates forget that on their last appear
ance in the big show, in 1927 of course,
the Yankees also showed up-to win in
four straight games. In Pittsburgh, at
least, there is hope that history will not
repeat.
Evening star., 1960-09-28
Threat to Guantanamo

To undertake a point t-by-point re-
buttal of Fidel CaStro'S 4Ka-hour ha-
rangue to the General Assembly would
be nothing more than an exercise in
futility. Following for the most part
the line Of his Communist mentor, Nikita
KhruShchev, the Cuban dictator'S in
dictment of the United States was COM
posed of the same old distortions and
outright lies which have become familiar
fare in this hemisphere. If the repre-
sentatives of the new African states,
seeing Castro in action for the first time,
were impressed, as some news reports
state, nothing much will be accom-
pliShed by answering in kind. Given
time and the will to learn, the Africans
will come to recognize the distinction
between truth and falsehood.
The things which Mr.. Castro had
to say concerning our naval base at
Guantanamo, however, are in different
category. On this score, our position
should be made so clear that there can
be no possibility of misunderstanding
Mr.. Castro did not threaten an
armed attack on Guantanamo. Instead,
he talked rather vaguely about forcing
us out through the processes of inter-
national law "the moment the base is
a threat to the Security and tranquility"
OF Cuba. This should be read, however,
against the background of more bellig-
erent statements made in Havana, in
Guiding one last week by Raul Castro,
the Prime Minister'S brother. When
these are taken together, it is conceiv-
able that the Castro speech in New
York was the opening gun in cam
paign to force us out of Guantanamo.
If we intend to stay there, and we
assume this to be the case, there ought
to be no vacillation or hesitation on our
part. When asked whether the United
States would use force to resist being
pushed out of the base, Senator Full
bright, chairman of the Foreign Rela-
tionS Committee, is reported to have
said: "'I would think so." This suggests
that there may be some doubt, some un-
certainty, about it. There ought to be
no room for doubt, no hint Of irresolu-
ton, which might encourage Castro to
think he can safely push harder. Our
belief is that this Government should
state to Mr.. Castro with unmiStakable
clarity that we will use whatever force
is necessary to maintain our rightful
position in Guantanamo, and that we
will not be intimidated by threats from
him or his voluble ally, Mr.. KhruShchev.
Any other course, in our opinion, would
herald the beginning Of a speedy end
of Americas stature and prestige.
Evening star., 1960-09-28
Bright Prospect

BY proclamation of Presi-
dent Eisenhower. the week
of September 81 through Oc-
tober 3 has been designated
for special observance Of the
United States Japan Gen.
tennial Year, marking the
Tooth anniversary of the
first Japanese diplomatic
mission to the United States.
Crown Prince Akihito and
Princess Michiko are visiting
several of our leading cities
during the week as good will
representatives of the Japa-
neSe people.
This may be an opportune
time to mention the great
economic benefits to both
countries of the large and
growing trade between them.
Japan is the second biggest
customer for United States
merchandise, next to Can
ada. Over the past three
years, Japan has purchased
an average of 81 billion a
year of United States goods,
while selling to us an average
of $3.50 million a year. Last
year the trade between the
two countries reached the
$2-billion mark for the first
time.
In view Of the current
drive to increase United
States exports as a partial
answer to our current bal
ance of payments deficit, it
is interesting to look at the
foreign trade figures for the
first six months of 1860.
They show that United
States total exports increased
by 10 per cent over the first
six months Of 1859. They also
show that over the sallle
period United States exports
to Japan shot up 48.3 per
cent.
The Japanese economy is
growing today at the fastest
rate of any country in the
free world. 1t is estimated
that by 1870 Japan will be
taking 50 billion a year Of
the products of American
farms, factories and mines.
and selling it's products to US
in approximately the same
amount. Politically and eco
nomically. the United States
and Japan begin their second
100 years as firm allies and
trading partners.
Allen Taylor,
Executive Secretary,
U. S. = Japan Trade Council.
Evening star., 1960-09-28

contortionists and noise max
ers carry individualism too
far. Too often the noise
makers start out harmoni-
ouSly and then all of a sud-
den each one strikes out for
himself in a different direc-
ton. AS for the floor wad-
dlers, I have seen a better
exhibition put on by ducks.
There is one thing I like
about the older people on a
dance floor, they have a facial
expression that looks like
they are having fun while the
teen-agerS look as if they are
bored. I am glad I was a
teen-ager when teen-agerS
had fun. I suppose it is be-
cause the one-worlders are
trying to make everyone con-
form to a set standard and
the only way the poor teen
ager can be an individualist
is on something like the
dance floor.
GeorOa A R;r5sou
Evening star., 1960-09-28
Puzzled by Dancers

I was practically raised
on music and the dance floor
and have played in various
orchestras. Now frequently
I find it necessary to park
across the road from a dine
ambulance place and I can
see and hear everything
through the open door.
There is one thing that
puzzles me and I wish some
professional dance teacher
and music teacher would
write a letter explaining to
me what it is I can't see. I
can't see any connection be-
tween the body movements
and noise makers. I think I
am an individualiSt but the
Evening star., 1960-09-28

All America should be
incensed by the serene boss
of Monaco'S interference in
our internal affairs. Grace
Kelly abandoned her birth
right when she assumed a
foreign title and throne. 1t
is interesting to note that
Rainier suspended the con-
stitutional government very
shortly after she took over.
1t is ironic that a product
of American mocracy
should condone the political
oppression of the Monegas-
queS. Senator Kennedy
should Immediately renounce
the support of actress Grace.
Alexandria Schweitzer