davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
Dayton Heads
EXCHANGE,
Cites Gains

S. Grey Dayton, jr., partner
Of Elkins. Morris, Stokes & Co.
has been unanimously elected
president of the Philadelphia
Baltimore Stock Exchange II
was announced at Philadelphia
today.
He succeeds j. Raymond
Leek. partner Of Bioren & Co.,
who retires as president after
serving for three years.
In assuming the presidency,
Mr.. Dayton said the exchanges
1859 share volume increased
22.2 per cent from 1858. which
in turn was UP 2l.5 per cent
from 1857.
This 48.5 per cent cumula-
tive increase in business in two
years reflects dramatically the
results of our program of ex-
pansion. spanked by the merger
with the Baltimore Stock Ex-
change in 1949." he said.
In the past ten years we
have changed from a Philadel-
phia-centered operation to an
exchange serving the Eastern
United States from Maine to
Florida, and affording our
members the most modern
facilities. The Stock Clearing
Corp. of Philadelphia performs
more services for our members
than any organization of its
kind in the country.
I'VE have the momentum of
growing business upon which
to build. Combined with our
tradition as Americas oldest
exchange, we are in the best
position in our recent history
to attract business and listings
from investors and corporations
in the Eastern United States. -
Mr., Dayton was graduated
from Episcopal Academy in
1899 and from Princeton
University, Class of 1913. He
served in Italy as first lieuten-
ant in the Tenth Mountain
Division during World War II.
In l949 he became a partner
OF Edw. Lowber Stokes g. Co.,
which merged with Elkins.
Morris e. Co.. in July 1856.
The old Washington Stock
Exchange was merged with the
Philadelphia Baltimore Stock
Exchange and now operates as
the Washington branch.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
YOUR
MONEYS WORTH
~ SYLVIA PORTER

be accurate were Fortune mag
azine and A. w. Zelomek, pres
ident of the International Sta
tistical Bureau. Fortune is pre-
dieting a $512 billion annual
rate in GIMP this spring, $500
billion by the year end; Zelo-
mex is predicting a GIMP for
the year of $500 billion.
Yet when the official sta
tistics which will confirm what
I've just written come out,
therell not be the huzzah you
might expect. For there just
isn't the oomph and zip in to-
days economy which we've
come to associate with phases
of expansion. There's a ten
dency now to emphasize the
dark spots, underplay the bright
ones.
AS an illustration, despite
the head-shaking about auto
sales. it's far too early to write
off a 7-million-car year, in
Guiding imports. In fact. For
tune suggests that when the
full line of compact models is
out this spring, new-car sales
may rise toward the rs million
mark.
AS another illustration, de-
spite the qualms about steel
production. all that has hap
pened is that steel buyers have
returned to the normal proce-
dure of placing orders as they
need the metal. Iron Age has
revised its estimate of steel
production in 1860 down from
l27-l30 million tons to 120-125
tons, true-but that's
still far above the previous
record of lit million tons set
in 1855.
Actually, to Fortune, the
pattern to date suggests, 1.-THE
present boom is developing a
more rounded strength and
obvious staying power" To
Zelomek, the absence of excess
es so far is lessening the danger
of a sharp letdown later in the
year and is IAN element of
strength in the economy for
the rest of 1860"
Or, to put it in plain words,
what these experts are saying
is that If 1860 turns out a solid
instead of a spectacular year,
the recession so widely touted
for 1861 will be pushed back.
This is bad?
SUNDAY: Profit Sharing.
distributed. 1860. by The Hall
Syndicate. Inc. All Rights Reserved
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
CHICAGO
LIVESTOCK

:, CHICAGO, Mar. 10 fAP) rUsDA
hf ig on butchers, closed slow on a
Few lots: sows steady TO % hisher:
complete early clearance mixed grade
Up and mixed % 200-25O lbs 1878
1929; several hundred Is and mixed
IL and rs 200-225 lbs 16.25-l6. so;
around 800 head at 1880 mixed
grade 2-3 and 3s 23O-2S0 lbs f5.25-
1919: few lots IS 23O.25O lbs 1915
LOO: few lots mixed 20 and IS
2g0-32O lbs 1873: mixed grade %
$4,000 III sows l3.25-l4.25.
Cattle 1000; calves none: prime
steers absent; steers grading choice
and below about steady; kinds grading
good and below slow; heifers scarce, a
few sales about steady: cows and bulls
active, steady to strong: vealers and
stockers and feeders steady several
loads choice l,175-l,415 Id steers
:1.0O-30, 90: two loads mixed good and
choice l,050-1,115 lbs 26.50-26 rs;
some good steers 24.0O-2B.0O a part
load standard 900 lbs u 10; few
choice 1000 ID heifers 27.75; a few
mixed good and choice 1880; a few
standard and good II .U0-24 90: a few
standard cows 1g.00-2000 utility and
commercial 16.25-1S.50; Gamers and
cutters 14.OO-11 30; utility and COM
mercisl bulls 2125-23.00; a few head
good vealers 3d. 90: standard Grades
Is. oo.53 90; a load GOOD and choice
$50. ID feeding steers $3.50; load
medium sS5 lbs "2.75: a few light
d.. ~ e'srS steers 1880
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
MBC 10 Offer
So Million Of
Debentures

Metropolitan Broadcast
ing Corp. today filed a registra-
ton statement with the SEC
seeking registration of Sc mil
lion of convertible subordinated
debentures due 1875, to be Of
fered for public sale through
an underwriting group headed
by Kuhn, Loeb Co. and Carl M.
Loeb, Rhoades & Co.
The interest rate, public Of
fering price and underwriting
terms are to be supplied by
amendments.
The company is engaged in
the radio and television broad
casting business and the out
door advertising business.
Net proceeds of the debenture
sale, to the extent of SIS mil
lion will be used to repay a
temporary bank loan incurred
to provide a portion of the
funds for its recent and pend
ing acquisitions. The balance
Of the proceeds. after payment
Of interest on the bank loan,
will be added to the general
funds of the company.
In addition to the SIS million
bank loan, the company has
borrowed $12 million under a
term-loan agreement with five
banks to provide the funds for
its acquisition and for addi-
tional working capital.
Metropolitan's recent acuui-
sitions included television sta
ton. WITH. Peoria, Ill; Radio
stations WIP-AM and FIN.
Philadelphia; Television dab
10, Inc, owner and operator
Of television station KOVR,
Stockton, Sacramento, Calf;
and the business and proper
ties of the Foster & Kleiser Di-
vision of w. r. Grace & Co,
through which the outdoor ad-
vertising business is conducted.
The company's capitalize
ton includes 1,699,012 common
shares in addition to various
Indebtedness. John w. Kluge
is president and board chair
man. Principal stockholders
are King & Co. of New York
308.000) and Mr.. Kluge $780,
1881
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
Mill End Shops
To Double Space

Mill End Shops, Washington
fabric and drapery chain. has
signed a new 15-year lease at
Shirlington Shopping Center in
Arlington. Va, it was an
nounced by Mrs. Joseph Cher
ner. president of Shirlington
Corp.
The new Mill End lease pro-
vides for the doubling of space
presently occupied by the dry
goods chain in Shirlington. Mrs.
Cherner said. Extensive mod
ernization and renovation Of
the Mill End store is now un-
derway with the new 5000 50. it.
shop scheduled to be formally
opened about April LIST. The
store is remaining open for
business during the alterations
and expansion.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
Lorrobee Associates
Forms New Firm

Larrabee Associates Adver-
Using of Washington has
formed a new corporation, Lar
rabee, Ltd. to handle public
relations activities exclusively
Lawrence Dobrow is presi-
dent of the new firm and Arthur
j. Lamb is executive vice presi-
dent and general manager
Bert K. Silverman is first vice
president and Erwin Garfinckle
is treasurer.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
Kroeer Sales Show
Another Decline

CINCINNATI, Mar. 10 (AP)
Sales by the Kroger Co.
showed another decline during
the second four-week sales
period of the year as compared
with 1859 totals.
The company reported its
sales were $141,178,316 during
the second four weeks of this
year, $2,466,054 decline from
the $l43.644,370 in the corre-
spending period last year.
Sales in the first eight weeks
Of 1860 have been 1921 ,642. 685,
that is a decline of $4,l88,l57
from the $685., 930,842 in the
first eight weeks of 1859.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
WILL TAIL WAC DOG? -.set.s
Leaders Told to Unite
On Vital Urban Plan

politan Washington than Rock.
vile or Silver Spring.
1t will be a characterless city
with all kinds of sectional
pickering.
Downtown commerce will
have been supplanted by an
entertainment center, mainly
for tourists.
Most of its employees will live
in the suburbs and spend their
money there.
1T will be a case of the dog
being wagged by the tall" Mr.,
Boucher warned.
Reality Is Brighter
The actual outlook, accord.
ing to Mr.. Boucher, is in reality
much brighter.
II have confidence in the
American businessman" he
said.
The Baltimore urban planner
said the first place in which
area businessmen should con-
centrate their efforts is the
central city.
Already there are signs, he
said, Of a rehabilitation down.
town. Attractive new buildings,
apartment houses for all in
come groups, highways linking
all areas and the proposed
mass transportation system
were among the developments
he cited.
But in the past, he added,
businessmen and politicians in
the various metropolitan COM
munities have attacked these
problems separately. He pointed
to the example of Baltimore
as a city which has taken the
opposite approach.
United Approach Best
1T was panic for our pocket
books that prompted Balti-
moreans to unity their attack
on urban problems" Mr.. Bou-
cher said. Civic leaders there
after modified their top
leadership in a single effort.
He observed:
Everybody realized that the
economic welfare depended on
solving these problems to-
gether." IS
He advised the group, who
represented civic and business
groups in the District and
suburban Maryland and Vir-
ginia. that downtown problems
are linked to the whole COM
munity.
THE rim of a wheel is only
as strong as its hub" he con-
cluded.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
Boskin Firm Plans
Tuesday Onenino

Baskin Furs will open a new
fur salon at 709 Thirteenth
street NV. next Tuesday
morning.
Previously. the firm was To-
Gated for 19 years at Eighth
and G streets NV.
Emanuel Baskin, owner, said
new quarters will contain a
large fur salon, as well as work.
rooms and cold storage vaults.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
Half a TriIIion

A historic moment IN the
life Of our Nation is being re-
corded right now. For the first
time. the economy is crossing
the half trillion-dollar mark.
This means that the gross
national product of our coun-
try-the total of all spending
by Government, by business
and by consumers on all the
goods and services the Nation
turns OUTS running at a rate
Of more than $500 billion a
year.
This means that the word
"trillion" will become more and
more part of our language as
the decade Of the SOS rolls on,
This means that despite
the uneasiness about business
which has characterized 1860
to date, the chilling plunge in
stock prices, apprehensions
about auto sales, cutbacks in
steel production, we are def
nitely still in a strong expan-
sion and are SCATTERING records
on every side. The $500 billion
plus GIMP is $40 billion higher
than the 1859 level. more than
SIG billion above the rate
chalked up in the final quarter
of last year.
This means that every form
Of spending is on the uptrend.
When State and local spending
is added to Federal Govern
ment OUTLAWS. the uptrend in
this area continues marked.
Business spending for new
plants and equipment is head
ing higher, and Nhis type of
spending will be a particularly
significant spur to our economy
later this year. Consumer
spending-the greatest force of
all-is at a 1922 billion annual
rate now. In more dramatic
terms, you and I are spending
at a rate of we'll over 81 billion
a day for every day except
Sunday.
And this huge rise in GIMP
is taking place during a phase
Of reasonably stable prices. The
climb is solid and real. in short
not a reflection of higher
prices.
1t is a historic milestone and
we'll not stop here.
At the very top of the hum
dreds of forecasters whose pre-
dictions for 1859 turned out to
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
Week S CorIoodines
Make q SIiqht Gain

Carloadings increased slight
~ last week, the Association
OF Railroads reported.
A total of 557.6o7 cars were
loaded with revenue freight in
the week ended March S, a
rise Of 4,454 cars, on eight
tenths of / per cent, over the
preceding week. This was a
decrease Of 1896 cars, or ga
per cent. below the correspond
ing week last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
U. S. Preparing
African Aid PIun

The administration is tailor
ing a new foreign aid program
for the emerging nations of
tropical Africa. a spokesman
told Congress yesterday.
Assistant Secretary of State,
J. c. Satterthwaite, urged the
House Foreign Affairs Com
mltee to approve the initial
$40 million installment, largely
for education, as part of Presi-
dent Eisenhower's SALTS, 900, 900
overall foreign aid recommen-
dalton.
Mr.. Satterthwaite said the
special program for tropical
Africa can be expected to cost
more in future years.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
Capital Stores Win
In Promotion Contest

Woodward & Lothrop won a
gold award for the best travel
and resort promotion and the
best departmental promotion
in the annual sales promotion
contest of the National Retail
Merchants Association.
Its departmental promotion
was a year-round home fur
nishings campaign. Woodies
also won a silver award with
its anniversary sale plans.
Lansburgh's won a silver
award for its Arlington branch
store opening promotion.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10

holders expired March / and
almost all returns indicated a
desire to purchase more shares
than authorized by the rights.
The new offering brings the
total number of shares out
standing to 147,171 and the
combined capital and surplus
now totals $3,027,9 1892.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10

The Washington area by 1880
could be a sprawling, disorgan-
lied metropolis Of some 8 mil
lion persons.
1t could be marked by bicker-
ling leadership, traf11c jams and
a downtown area dead or dy-
ing.
And it will be all those things,
declared a Baltimerean yester-
day, unless businessmen and
politicians in every area COM
munity work together.
In fact, however, such a fu-
ture for Washington is un-
likely, according to William
Boucher III, executive director
of the Greater Baltimore Com
mittee, Inc. His remarks were
delivered to $50 area civic
leaders attending the Board Of
Trades Economic development
Council in q symposium at the
Statler Hotel.
What Might Happen
He painted this picture Of
what might happen If urban
leaders fail to cooperate:
Department stores will find
that their downtown store is
no longer the parent unit, but
a branch.
The downtown area will be
merely another section of town,
no more important to Metro
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
Business
Heavy Shows Reduce
Store Sales Sharply
In Washington Area
BY DONALD B. HADLEY
Star Financial Editor

Heavy of the last have cost Washington de-
parmen stores big chunk of business survey by The Star
showed today
Sales for last Thursday Friday Saturday and Monday ran
80 cent and more behind shoppers stayed
second storm which arrived night also is expected
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
Stock Offering
Is Oversubscribed

The recents offering of 1908
new shares of Citizens Bank of
Maryland was over-subscribed
by a substantial margin, re-
ported President Alfred H.
Smith.
Subscription rights of stock
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10

Prices quoted in dollars and thirty.
seconds
Subject to Federal taxes but not to
State income taxes.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
TREASURY BONDS

NEW YORK. Mar. 10 (AP).-Yester.
gays closing oveI,the-counter United
States Government Treasury bonds.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
OVER COUNTER

Washington listings on over-the-
counter markets furnished by the Ma
tional Association Of Securities Dealers
as OF l pm. Thursday, March 10:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
FOREIGN EXCH'GE

NEW YORK, Mar. 10 (AP).-Foreirn
exchange rates Great Britain In
dollars, others in cents and decimals
OF q cent?.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
DIVIDENDS

NEW YORK, Mar. 10 CAP).-Divi.
bends announced.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-03-10
MUTUAL FUNDS

NEW YORK, Mar. 10 ZAP. - NatiSnsI As
soeiatioa Securities DssIsFs, lac.
Evening star., 1960-08-26
Dalai Lama Plans
NewU. N. Appeal

NEW DELHI, India, Aug. 2s
(AP). - The Dalai Lama will
send a delegation to the United
Nations to present the Tibetan
case again at the Assembly
session beginning next month.
Malaga and Thailand have
asked the U. N. to consider
Communist China's actions in
Tibet.
Last year the Dalai Lama's
elder brother, Gyalo Thondup,
led a group to New York despite
the Indian governments disap-
proval. Prime Minister Nehru
expressed belief then that there
was nothing to be gained by
U.N censure of the Chinese. A
reliable informant said the In
dian attitude remains un-
changed.
Evening star., 1960-08-26

to adjourn without a new min
imum wage law unless the Sen
ate is willing to give in to the
House.
While limiting at willingness
to make some concession. Sena-
tor Kennedy said he will not
accept a minor" improvement
of the minimum wage low. He
indicated he was talking about
ar ruling out-the House
bill.
The Senate bill would raise
the minimum wage gradually
from 81 to $1.25 an hour and
would extend coverage to about
a million of the 20 million
workers who now are excluded
The House bill would raise the
wage floor for the "a million
workers who now are covered tt
$1.l5 and would extend cover.
age to about IA million work.
erS. These newly covered work.
ers would get a 81 minimum
wage, without overtime.
The main fight is over Sen.
Evening star., 1960-08-26

ator Kennedy's proposal to ex-
tend minimum wage coverage
to enterprises affecting" inter-
state commerce even indirectly.
His bill would cover retailers
and most other businesses with
gross annual sales of 81 million
or more, even if they operate
within one State.
, BY contrast. the House bill
would retain an orthodox con-
cept of interstate commerce
extending coverage only to re-
tail chains with five or more
stores in two or more States.
The Senate version would es-
tablish a precedent for great
expansion of coverage in the
future, and would indirectly up
hold the union viewpoint in
several fields of labor law.
Staff experts were assigned
after yesterdays conference
session to try to draft compro-
mise language. 1t was under
stood, however, that they were
working on revisions of wording
rather than substance.
Evening star., 1960-08-26

important provisions of their
bill. Senator Kennedy. leading
the Senate conferees, indicated
he may be flexible on peripheral
points, but not on basic issues.
Representative Ayers, Repub-
lican Of Ohio. told reporters:
1T will be the House version
of the bill or no bill" Mr..
Ayers, who sponsored the
House bill. called the confer
ence "phony" and said the
confereeS were lust going
through the motions"
Dirksen Agrees
Senator Goldwater, Repub-
lican of Arizona, said the House
conferees had, in effect, pre-
sented an "ultimatum" to Sen
ator Kennedy. IF Kennedy
wants a bill and not just an
ISSUE" Senator Goldwater said,
"he will have to yield to the
House"
Senate Republican Leader
Dirksen Of Illinois agreed, pre-
dieting that Congress will have
Evening star., 1960-08-26
Opponents See Defeat
Of Kennedy Wage Bill

Senator Kennedy's struggle
to steer his minimum wage
bill around a wall of con-
servative opposition probably
will fail, key figures on both
sides of the battle predicted
today.
AS Senate and House con-
ferees prepared to resume nego-
tiations on the legislation this
afternoon, the Democratic pres
idential nominee apparently
faces this choice:
/. Accept the House bill,
settling for much less than
organized labor and other lib
eral forces demanded.
Evening star., 1960-08-26

2. Refuse to surrender, jeop-
ardizing chances for enactment
of any minimum wage bill this
year.
Evidence was growing that
he will reluctantly choose the
second alternatives stalemate
and try to blame the Repub-
licans for blocking legislation
to increase the minimum wage
and extend coverage.
Conference Called "PhOny"
House conferees made II
plain at yesterdays opening
round of negotiations that they
do not intend to yield on any
Evening star., 1960-08-26
Wage Bill Foes Present
KennedyWithD Dilemma

sensation at all except help
lessness. Their nervous sys-
TENS just didn't work. They
were blind and paralyzed.
In another test here in the
Great Salt Lake Desert Of Utah,
Army doctors gave a tailwag-
ging mongrel named Sparky a
Whit Of another gas that
doesn't even have a set Of ini-
tials. In seconds he lay down,
and looked calmly at the doc
tors-and was completely para
lyzed. The doctor gave him an
injection in a vein. In 80 sec
onds Sparky Jumped to his
feet. his tail resumed its wag-
ging and he trotted of with
the doctor.
Sparky has done this lots of
times. the doctor said. But he
still doesn't shy away from a
test.
1t has never been tried on a
man, but it is one Of the weap-
ons Army Chemical Corps SCI
entists are working on for pos
sible battlefield use.
Giggle Gas
They have mental incapaci-
tators, too. still in the labora-
tory stage. Some have been
tried on people. They get hallu-
cinations, giggling fits, sudden
urges to hide. They wouldn't
be worth a hoot as soldiers
until the effects wore of hours
later.
Dugway Proving Ground is
a 2,500-square-mile area that
no one wants. It's all salt fats,
sand dunes, brown mountains
and gray sagebrush. There is
plenty of room to carry on ex-
periments with new chemical,
biological and Pathological
weapons wit hout bothering
anyone. And the Army has
found literally thousands of
new kinds Of gases, germ
spreading schemes and atomic
dust weapons to experiment
with.
The Army says the Soviet
Union has done even more work
on such weapons. The Chemi-
cal Corps is looking for de-
fenses and for realiatory weap-
ons.
GB, the deadly nerve gas, is
now a standard Army weapon.
CS, the nonlethal riot control
gas, soon will be standard.
Other fancy nonlethal gases,
germ and radioactive weapons
are under development.
This reporter, whose skin still
StingS a bit, can say positively
the Army is on the right track.