davidaulloa/AmericanStories huggingface dataset:
Evening star., 1960-05-15

plan of operation-for the fund
before completing the contract.
The prospectus should detail
which stocks are involved, how
often they are bought and sold,
and who the brokers and agents
are.
Buying without a prospectus
is just asking for trouble.
The SEC has an inspection
program, but it is limited by
the agency budget. Chairman
Edward N. Gadsby recently
called his enforcement staff
"alarmingly inadequate" say
ing the staff could inspect each
company once every 21 years.
instead of the ideal every two
years essential for reasonable
public protection.
Mr.. Gadsby has asked con-
gressional authority to hire
seven more inspectors. That
would produce a check every
81 years.
Between June, 1859, and
April, 1860, the SEC registered
Al new investment companies
and inspected IA, so the COM
panies are setting up shop
faster than the Government
can look them over.
Five Million Shareholders
In the last 312 years the
number of mutual fund share
holders has doubled and now
approaches 5 million.
There is some thought that
Congress may investigate the
mutual fund business, but moth
ing is in the wind now. The
congressional action will prob
ably come if a study, now being
conducted for the SEC by the
University of Pennsylvania s
Wharton School of Business,
shows the companies size has
created problems that can be
remedied only by legislation.
The NASD says the growth
in mutual funds has been re-
markable for 10 years, but il
has only recently been realized
by some of the public. 1t re-
ports "an enormous increase"
in membership firms and their
sales representatives.
Its disciplinary actions have
increased, thanks to a bigger
staff and more inspections, but
the control program of mutual
fund selling and advertising is
10 years old.
Monday: What kind Of fund?
Evening star., 1960-05-15
OVER COUNTER

The following bid and asked prices
are obtained from the National ASso-
other sources, but are unofficial They
do not represent actual transactions:
they are intended as a guide to the
| approximate range within which these
securities could have been sold gndi-
Gated by the 'askedD at the time Of
/ compilation 12:O0 Noon. Friday
OriRin Of any quotation furnished On
Evening star., 1960-05-15

seconds.
Partially tax exempt.
Evening star., 1960-05-15

ship and vigorous competition,
1t also has drawn increased
attention from the Securities
and Exchange Commission and
the SEC-approved National As
sociation of Securities Dealers,
which is the industry police
man.
There is a major fiction about
mutual funds, best told in the
story about the man who said
with a confident smile that he
Evening star., 1960-05-15
First Of q Series

didn't gamble on the stock
market. Instead. he put his
$50 a month into a mutual
fund.
The mutual fund is 'in the
market" The only difference
is that, instead of buying one
stock and paying a commission
at the time of purchase and
another at the time of sale, the
buyer obtains a package" OF
stocks and pays an annual
commission, or load"
Sometimes the funds stick tC
stocks of one industry. like
chemicals or utilities. Other
diversified" funds spread-eaglt
the field.
y About $50 companies have
registered with the SEC as mu-
tual investment firms.
All but two of the acknowl'
edged leaders are sold under
the guidance of the Nationa
Association of Securities Deal
ers. Some IS per cent of al
stock sales are made by NASE
members. and to sell ordinary
mutual fund shares the broker
must be a member of the as
sociation.
The major exceptions-anc
they sell only shares in theil
own enterprises-are Investors
Diversified Services Of Mime
sofa and the Hamilton Fund o.
Denver.
Abuses Admitted
The boom in mutuals ha'
produced speculation tina
abuses have run riot in tht
field, helped by relatively un'
trained and unscrupulous sales
men.
Expert observers readily ad'
nit abuses are committed, but
deny they are more prevalent
in mutual funds than in othel
branches of the securities in
dustry, The problem is created
by the increased sales Of mu-
tuals to small investors, fam
lilies that cannot take the time
to investigate the market anC
inquire into individual stocks
Instead. they receive an at.
tractive package of stocks from
the mutual fund salesman, who
also shows how a small down
payment and small monthly
installments can provide solid
investment. Sometimes he over
sells his product.
A major problem results
from the fact that the buyer
rarely looks over the package
before he signs up. The Law
requires that the salesman pro-
duce a prospectus-a detailed
Evening star., 1960-05-15

Rates Of dividends in the foregoing
table are annual disbursements based or
the last quarterly or semi-annual decla-
ration. Unless otherwise noted, special
or extra dividends are not included
q, Also extra or extras, b Annual rate
plus stock dividend. d Declared or paid
IN 1859 plus. stock dividend. Declared
stock during 1883. estimated cash value
on ex-dividend OF redistribution date,
Pad last year. b Declared OF paid
elared or paid this year. an accumnla.
tive issue with dividends In arrears.
? Paid this year dividend omitted, de.
terred or no action taken at last dividend
meeting. Declared or paid in 1850 plus
stock dividend, Payable In stock durins
1850, estimated cash value, on ex-dividend
or ex-distribution date. y1iquidating div.
idend, cid Called. < Ex dividend x-dis Ex
distribution X A RI rights: Nv Without
distributed. wi When issued. nd Next day
delivery. q In bankruptcy or receivership
or being reorganized under the Bank.
ruptcy Act, or securities assumed by
such companies.
Evening star., 1960-05-15
THE ABc OF MUTUALs 3sslTF
Mutual Funds Grow
Rapidly in 20 Years
RY ALAN EMORY
Distributed by North American Newspaper Alliance


big stock market sell rightnow is mutual funds
What SIS billion industry in 1910, when Congress
passed the Investment Company Act is now more than
billion proposition and the figure rose So billion In the
past year.
The Nome nugget., 1960-10-14
Pittsburgh Stages
Big Baseball Binge

PITTSBURGH, R-Horn toot-
ing, bell-ringing Pittsburgh Pirate
fans celebrated until the early
hours today in what police said
The Nome nugget., 1960-10-14
Egan Deplores
.SectiOnalism' In
Pioneer Speech

SEWARD, R-Gov. William A.
Egan warned today that section
alism can lead Alaska into "big,
statewide trouble"
Speaking before the 1860 con-
vention of the Pioneers of Alas
ka, Egan said Alaskans have en-
ioyed a kinship and oneness as
few people anywhere have ever
enjoyed.
Lately, however, a gravely
serious and disquieting condition
has developed which threatens
irreparable harm, the Governor
said. Harm through interruption,
harm through delay, harm
through directing our efforts from
the prime problems of transition,
and harm greatest of all by divid-
ing our people through the bitter
ness of regionaGsm run rampant"
Although Egan did not mention
what he felt was the source of
the sectionalism of which he
spoke, it appeared to be direct
reference to the bitter capital re-
location fight of the past year and
the regional choosing of sides over
the % million dollar bond issue
for state ferry system which
will be voted on Nov. 8.
The states chief executive said
the ferry system was of utmost
Importance to the development of
Southeastern Alaska. He said the
SYSTEMS economic impact would
extend both north of the Gulf of
Alaska and to the Panhadle.
GAS to the bonding method of
financing" Egan said, ALASKA at
present is almost alone among the
states in having no indebtedness.
However, that is not necessarily
an enviable situation if it means
to stay out of debt we do with
out needed improvements"
The Nome nugget., 1960-10-14
Cuban Delegate To
U.N. Resigns Post
tBy The Associated Press)

One of Cuba's delegates to the
United Nations turned against
Prime Minister Fidel Castro today
almost at the exact hour the us.
was unleashing an attack on him
in the United Nations.
The Cuban delegate, Miss Ter
esa Casuso, quit her post with
the charge that Castro is making
Cuba into a police state. She said
Castro 'fhas to be at war with
everybody"
The United States filed with the
United Nations a 9,000-word reply
to Castro's 412-hour speech last
month to the General Assembly
The State Department depicted
Castro as a tyrant who is seeking
to provoke an incident over the
Guantanamo Naval Base. 1t said
Castro is welcoming Communist
Intervention and trying to under
mine the inter-American system
of collective security and progress.
At home, Castro's regime moved
toward complete state control of
basic industries. 1t nationalized
1872 firms including banks and
sugar mills owned by Cubans, as
a followup to takeover of many
us. investments. Virtually all
sugar mills, turning out the main
stay of the Cuban economy, now
are under state control in much
the same way that factories are
controlled by the state in Com
munist countries.
The Nome nugget., 1960-10-14
Candidates Do Not
Agree On Very
Many Issues
BY JACK BELL
APP Political Writer

A wide-ranging third television
argument found the two major
presidential candidates agreed
today on only two subjects: de-
Tending Berlin and condemning
religious bigotry.
Separated by the width of the
continent but brought to single
screen, Vice President Richard M.
Nixon and Sen. John F. Kennedy
failed at each other last night on
the issues of war and peace, how
to stop national emergency strikes
the state of American prestige,
and the cost of farm programs.
Both sides thought they had
won. Nixon called the encounter
Good, fast-moving, a good clash"
Kennedy told reporters 81
thought we touched on important
matters that are at issue in the
campaign"
The issue of Kennedy's Roman
Catholic religion was brought into
the debate for the first time. A
reporter quoted Rep. Adam Clay
ton Powell, New York Negro con-
gresham, as saying that, "The
Ku Klux Khan is riding again in
this campaign" in opposition to
Kennedy.
The newsman said Gov. Michael
v. Disable of Ohio, a Roman Cath
olic, was saying much the same
thing. Disable said he was not
quoted correctly. He merely re-
ported, he said, that the head of
the Ku Klux Khan said he would
vote for Nixon.
Kennedy said he didn't suggest
in any way that the Vice Presi-
dent has any sympathy with or
involvement with the Khan.
"That is absurd" Kennedy said,
81 don't suggest that. don't sup
port it. I would disagree with it.
Nixon, Quaker, said he well
coined the chance to join Ken
nedy in repudiating the Khan or
anybody who uses the religious
issue.
In Tampa, Fla, w. j. Griffin,
head of the state Khan, said: II
don't give a damn what Nixon
said. I'm still voting for him"
The Nome nugget., 1960-10-14
Khrushchev Ends Is Notwithstanding
DAYS Before U.N. General Assembly

nuclear war out of the other.
He was also badly beaten
man, whipped on all but one of
the great controversial issues that
came to a vote in the General
Assembly.
Clutching at straws before his
departure last night, Khrushchev
claimed a victory" on the single
point in which the Assembly
went along with him-the unani-
nous agreement for hearing, in
plenary session, on his proposal
to demand immediate independ-
ence for all colonies.
He boarded his giant Soviet
turbo-prop plane at Idlewild Air
port just before midnight. In his
customary departure statement
he said: eve are leaving in a
good mood"
Khrushchev said there were
signs (which allow us to hope for
solutions of the major interna-
tional problems through the
United Nations organization, and
through this session of the Gen
eral Assembly"
Much of what followed echoed
the positions he took on various
issues while he was here.
His next major moves in the
international arena, he indicated
repeatedly at the United Nations
will come after the presidential
elections. He said he did not be-
lieve American officials could
fully participate until then in "the
question of questions" disarma-
ment.
The Nome nugget., 1960-10-14
By RELMAN NORM

UNITED NATIONS, NY, Up -
United Nations headquarters re-
Taxed security precautions and
breathed a collective sigh of re-
lief today as Nikita Khrushchev
returned to Moscow after 25-
day visit that shook the world.
A massive contingent of New
York police, drawn up to control
pickets and prevent unauthorized
access to the headquarters build
ings, was withdrawn from First
Ave, AUDITING the U. N. area.
Special U. S. passes required of
U.N personnel, reporters and even
mattresses in the dining rooms
were no longer needed to get
into the tall Secretariat Building
on the East River.
These measures and many more
had been put into effect to pro-
tect chiefs of state who came for
the opening of the 18th General
Assembly-but mainly because of
Khrushchev's presence.
The Soviet premier left behind
the memory of a bully, a vul-
garian, pile-driving debater, an
expert propaganda and a Jekyl-
and-Hyde who talked peace out
of one side of his mouth and
The Nome nugget., 1960-10-14
Owners Decide Not To
Salvage Tug Tom

SEATTLE, R-Owners of the
Seattle tug Tom, which sank near
Juneau last month with loss of
its three-man crew, reported yes
terday they have decided not to
attempt salvage.
The 55-foot tug sank Sept. 8 in
1872 feet of water in Stephens
Passage, rs miles south of Juneau.
The crewmen lost were Earl Long,
the skipper, and Myrton Voellger
and William Pavoa.
James McMurdy, president of
Puget Sound Dredging Co., said
the Tom went down in an ex-
posed area where there are swift
currents.
at is a difficult situation for
salvage effort" he said, with
very remote chance of success"
AT one time a company official
reported a special hook was being
fabricated and would be used in
an attempt to raise the Tom.
The Nome nugget., 1960-10-14
South African Denounces
U.N. Inquiry Into Charges
Of Racial Discrimination

UNITED NATIONS, N. Y, Up
South Africa's Foreign Secretary
Eric H. Louw, soberly warned the
U.N. General Assembly today So
Wet Premier Khrushchev's at
lacks on the UN. structure may
not be idle threats.
He also declared South Africa
is concerned about what he term
ed Communist penetration of AT
RIGA and Communist inspired act
ivity in his own country.
Most of his policy statement
was devoted to lashing back Bit
terly at the Al countries that have
demanded a U. N. inquiry into
charge of South African race dis
elimination, chiefly India.
"They do not come into court
with clean hands," Louw said, re-
citing charges of discrimination
against races and minorities he
said prevails in other countries.
The Nome nugget., 1960-10-14

PITTSBURGH, R-Horn toot-
ing, bell-ringing Pittsburgh Pirate
fans celebrated until the early
hours today in what police said
was the biggest, craziest mass
demonstration ever witnessed i'm
the steel city.
Baseball fans who had seen
World Series celebrations in other
cities said this one beat them ALL
The celebration began exactly
at 1886 pm. yesterday when Bill
Mazeroski clouted leadoff
homer in the ninth inning to give
the Pirates a come-from-behind
1919 victory over the New York
Yankees. The victory gave the
Pirates their first World Series
championship since 1925.
Pirate fans who had waited a
long time to celebrate let go with
a vengeance. Crowds yelled, fire
crackers doomed, air raid sirens
screamed, confetti rained and
church bells pealed.
In a few hours traffic was jam
med hopelessly. Extra police were.
called out Beer bottles Uttered
main streets.
Girls grabbed strangers and
kissed them. The men got into the
act by kissing strangers. That
caused a few fist fights.
By l am. more than 40 persons
had been arrested on various
charges as a result of the cele-
ibration.
One police officer said: "Most
of those arrested were younger
people who probably never saw a
ball game in their life. They just
took this opportunity to show
off"
The litter in the streets got so
bad water hydrants were turned
on to wash down streets.
After-hour clubs were jammed.
People were drinking in the
streets. The situation got so bad
police requested radio and tele-
vision stations to ask residents to
stay away from the downtown
area.
The Nome nugget., 1960-10-14
Vukovich Charged
With the Murder
OF His Mother

TACOMA, R-Roger Vukovich,
an only child who lived in a
world of strange portrait paint
ings and supernatural readings,
was charged in Justice Court here
today with the first-degree muir
der of his 57-year-old widowed
mother.
Today in a city Jail cell, Vuko-
vich observed his Goth birthday.
Late yesterday afternoon he
signed a confession that he had
killed his mother, Mrs. Selma W.
kovich, after unsuccessfully try
ing to hire out the Staying to his
only close friend for a reported
$1,000. The friend shrugged the
offer off as a joke.
Yesterday afternoon, according
to a detective, Vukovich confess
sed in writing that he struck his
sleeping mother on the skull with
the blunt end of a single hatchet,
carried her from her bed, and
showed her down a steep flight of
basement stairs.
When arrested, Vukovich had in
his possession a paperback book
Mediums and Survival" He told
in his signed statement that he
had just finished chapter in
volving the question, "can mortals
make contact after death?" This
was the experiment he hoped to
make after his mothers death,
Vukovich said in his statement.
Mrs. Vukovich was the widow
of Juneau man who served in
the Alaska House in 1945.
The Nome nugget., 1960-10-14
5000 Wellwishers
Serenade Eisenhower
On His 10th Birthday

WASHINGTON, Up President
EisenhoWer's neighbors - about
5000 of them-serenaded him to-
day with a happy birthday chorus
as he turned up. And he pledged
with deep emotion to continue
working for world peace.
Eisenhower, the first US. Presi-
dent to reach the age of three
score and ten in office, also took
the occasion to toss barb at
Soviet Premier Khrushchev.
In an informal talk to the crowd
of well-wishers on the White
House south lawn, the President
said Americans and the rest of
the free world must never stop
striving for peace with justice
despite all possible provocations
OF personal department and yelled
threats
That remark came against the
background of Khrushchev's bit
ter TRADES in the United Nations
in which the Kremlin leaders tar
gets often were the United States
and Eisenhower.
The Nome nugget., 1960-10-14
Sports Kart Demonstration
Slated For Saturday
Afternoon on Front Street

The Sports Kart demonstra-
ton will be held on Front St.
tomorrow afternoon at l o'clock,
it was announced by Bob En-
mons, president of the Arctic
Club.
At this time this new motorized
car with speed up to is miles an
hour will be set in motion and a
lucky child will be chosen from
the audience to help with the
demonstration and learn to drive.
The Kart is to be given away
on Oct. % by the Arctic Club at
their annual Carnival for which
new concessions and new games
are to be part of the night of fun.
The Club has also announced a
cash prize of 500 to the person
who sells the most tickets for the
carnival. Anyone interested may
contact Johnnie Stephenson who
has charge of the tickets.
The Nome nugget., 1960-10-14
SEARCH HALTED FOR
FLIER LOST at WAKE

HONOLULU, R-The Wake Is
land air-sea search for missing
flier, 1t. Duane Stirling, %, of
Fargo, ND, was called off Thurs
day night, the Navy announced.
The North Dakota Air National
Guard pilot was attempting to fly
nonstop from Oakland, Calf, to
Manila 1858 miles when his
single-engine plane plunged into
the Pacific near Wake Island
Wednesday night.
The Nome nugget., 1960-10-14
YOU BET!

YOU BET!
ST. LOUIS, III Police did the
bet making and it's good thing
for the bettors.
The gambling squad raided two
places and took bets over the
telephone to determine extent of
the operations.
1t would have been a good day
for the bookies. Lots of bets came
in, all on the World Series-and
most on the New York Yankees,
who lost to Pittsburgh 1913.
The Nome nugget., 1960-10-14
American Met. Goods Yes

NEW YORK, r. Russian Pre-
mier Khrushchev and his party
evidently like American products,
even if they don't like Americans.
AS the group prepared to leave
for home, great numbers of crates,
cartons and other items of bag
gage were Grated out of the Rus
sian Park Avenue headquarters
and loaded into trucks and other
vehicles.
Among other things, neWsmen
could see automobile tires, anti
freeze and auto batteries.
Evening star., 1960-02-14

THE SUNDAY STAR. WASHINGTON, D. c.
FsbroGrY u. 1860
Evening star., 1960-06-08
Graduates Feted

Members of the George
town Visitation Preparatory
School graduating class and
their mothers were enter
tanned at a tea at the Army
and Navy Club yesterday
given by Mrs. Louis j. Tim
chak of JohnStown, Pa.,-
mother of one of the grad
yates, Miss Glory Ann Tim
chak.
In the receiving line with
Mrs. Timchak and Miss Tim
chak was another daughter,
Miss Janice Timchak, a SEN
ior at Georgetown University
School of Foreign Service.
The class will be graduated
at commencement, exercises
at Georgetown Visitation
Convent today. "a y
Evening star., 1960-06-08

meaning to his life, a mood
of futility possesses him. He
has no antidote for his self
despair and his despair of
his fellows"
Bishop Dun presided at the
graduation ceremonies and
presented the diplomas.
IL Cum Laude HOnOrs
OF the 81 graduates, IL
graduated cum laude. They
are the Misses Stephanie
RauShenbush, who had the
highest academic average in
the senior class; Dorothy
Mann Olson, Elizabeth Ma
son Denny, Elizabeth Dawson
Fisher, Craig Kerkow, Cath
crime Elanor Krug, Ellen
May, Kate Grayson Oliver,
Rebecca Rivers Owens, Julia
Porcher Wickham Porter,
Stuart Upchurch and Pencil
ope Webb.
The commencement cli-
NAKED a week of graduation
festivities, which were high
lighted by the schools tradi-
tional Flag Day ceremonies
on Monday, held on the east
terrace of the school.
Senior honors were award
ed as follows: Art medal,
Miss Persis Charles; Hyde
prize for the best essay, Miss
Elina Mooney; bishops
scholars, Miss Oliver and
Miss RauShenbush; music
award, Miss Lois Everett and
Miss ara Sprague;
French award, Miss Oliver
and Miss Denny; history
award, Miss Denny and Miss
Charles, and citizenship
award, Miss Upchurch and
Miss Jeanie Kinney.
Evening star., 1960-06-08
Graduates Urged
To Hold to Christ

The Right Rev. Angus Dun,
Bishop Of Washington, told
the graduating class of Ma,
tional Cathedral School for
Girls yesterday mot to leave
Christ out of the picture" in
their future lives.
At commencement exercises
in the Great Choir of Wash
ington Cathedral, the bishop
pointed out that mans glory
is "a reflected glory" and
that mans worth sis a worth
derived from God"
Drawing analogies from
the world of art, the bishop
recalled that one of his teach
ers once wrote that man is
an animal that makes. pic
lures. More striking still
he makes pictures of him
self scratched 'on the
walls Of caves, carved on
wood or stone, painted on
canvas. snapped on a camera
film."
Images in the Mind
Celebrating, the bishop
continued, And behind these
outward pictures lie the un-
seen images in the minds
eye, your idea of yourself and
of your fellows and of the
fascinating being you both
are. called man."
Christ, too, has a picture
of man, the bishop pointed
out. 1T is a picture sketched
in words. suggested in par
ables, reflected in His deal
ingS with men, plainly carried
in His mind as He met men.
1t is part of our inheritance
from Him, which we seek. to
treasure here"
Taking one of the famous
artistic representations of the
Cruciflxion as an example,
Bishop Dun pointed out that
without Christ in the cen
. ter the attitudes of adora-
ton, humility and grief ex-
pressed by the surrounding
figures in the picture would
be plainly meaningless.
I'm the same way, Christ's
picture of man is meaningless
without the Central Pres
ence," the Bishop continued.
For man is not in the CEN
ter of His picture :. tbut) a
subordinate figure who draws
his meaning from the Gen.
tral Presence and Purpose"
1t was this ChriSt-centered
picture of themselves that
the bishop asked the grad
yates to take into life with
them, for mans worth and
dignity come from beyond
himself" he concluded, land
unless he can picture him-
self and his fellows in 3
setting that gives profound
Evening star., 1960-06-08

with live rose bushes in full
bloom.
This debutante was grad
uated last year from Holton-
Arms school and is now at
tending the University of
Colorado. She will go to Har-
ward Summer school after
the debutante season.
Mrs. Moore made her
debut here as did her moth
er, Mrs. Ridley Mclean.
Miss Moore al % VIII be
among the debut ,ntes next
Christmas.