davidaulloa/AmericanStories huggingface dataset:
Evening star., 1960-04-08
MergenfhaIer
Shows Larger
Earnings

Net income of Mergenthaler
Linotype Co., in which there is
a large area interest, rose to
$2,205, ,361 in "a weeks ended
March l3, compared with ST.
371, ,08l a year ago, the company
reported yesterday.
The net was equal to S3.76 a
share, compared with 1924 a
share year earlier.
Sales expanded to $13,5I3,-
572 from $1O,592,152 in the like
1859 period.
Net income for IL weeks
ended March 13 was 1886, ,742
after Federal income taxes,
compared with $841 ,484 in the
like 1859 period. Sales totaled
$7,4l7,688 VS.. $5,938, ,502.
Increased sales reflected in
creased shipments of Linotype
and military products as well
as initial sales of Linof1lm
equipment and Mergenthaler
presses, said the report signed
by President j. A. Keller.
The company owned 400,350
shares of Electric Autolite Co.
as of April l and this was
carried on the books at a cost
of SIS 1865, ,502. Dividends from
Autolite totaled $591 ,645 in "a
weeks this year. This was net
of taxes.
Evening star., 1960-04-08
Merger Talks
By Nickel Plate,
Nav Advance

ROANOKE. Va. April 8 (APl
The president of the Norfolk
& Western Railway said today,
1--WE should know in the not too
distant future whether an ac-
ceptable arrangement can be
worked out" for a merger with
the Nickel Plate Railroad.
In a speech prepared for the
N&W annual Better Service
Conference. Stuart T. Saunders
said negotiations are continuing
on an active basis, although it
is too early to say what the
results will be. up to this
point, We have made good
progress.
Mr.. Saunders said the merger
in December of the N&W and
the Virginian Railway has set
a precedent which will un-
doubtedly influence the policy
of the Interstate Commerce
Commission for many years to
come"
He told 500 N&W employees
from a SiX-State area it is i'm
perative that many existing
railroads merge IF the railroad
industry is to be a strong, in
tegral part of our Nations
transportation system.
Evening star., 1960-04-08
NeW-Car Sales
Top Year Ago,
Used-Cars Lao

Sales of new automobiles in
the District of Columbia were
above a year ago, while used
car volume was lower in both
March and the first three
months of this year, the De-
partment of Vehicles and Traf-
f1c reported today.
March sales of new cars to-
tailed 2,629 units, compared
with 1,72l in the previous
month and 2,544 in March last
year. Sales in three months
aggregated 5,97S, compared
with 5,677 a year ago.
Used car sales in March to-
tailed 1911, compared with
3,119 in the previous month,
but were behind $3.50 in March
last year. For the three months,
sales totaled 14,060, compared
with 14,729 in the same 1853
period.
Net District registrations on
March 81 after deduction OF
transferred registrations totaled
208,625, compared with 04,867
on the same date last year and
206.786 on the same 1855 date
Evening star., 1960-04-08
CHICAGO
LIVESTOCK

- CHICAGO, April s CAP) (USDA
'hogs 5000; moderately active early
with bulk butchers steady to rs higher
most advance on weights over 23O lbs
closed SLOW. steady to strong on a few
lotS; trade uneven. particularly on
sows, these mainly steady to IS lower:
mixed grade 2-3 and mixed grade | 3
l9U-23O lbs l6.25-l6 so; Is and mixed
Il and IS l90-220 lbs l6.35-l6. IS:
- head lot closely sorted Is 2lO lbs
90: mixed srade 2-3 and IS go
26u lbs l6.O0-l6.35: a few lots IS
230-@4O lbs l6.35-16 60; mixed grade
- and Is 26O-290 lbs 565-itj IS:
mixed grade 2-3 35O-575 ID sows I3 90
Cattle 300; calves none. market
steady on represented weights and
grades of all classes; two loads prime
l;3;i3 ID slsughter steers - so: a few
nlsh standard. good and low choice
l.i5o lbs down ~ 0O-@1 90: a few
GOOD heiferS ~ 0O-35 so: utility and
commercial cows l65O-lS. 90: Gamers
and cutters IA O0-l72 a few cutter
ano utility bulls 17O0-l9 90: a few
sood and choice veslers 2T.OO-33 90
sheep 100: STEADY on represented
Wel9hts and gradeS slaughter lambs
snd shFsp: three decks good and choice
LOO 10 wooled SLAUGHTER lambs 90 90:
lew utility lambs 2O.ou: Gull to
CnoIce Slaughter ewes zoos so: a
SlEaole lot cullS $50,
Evening star., 1960-04-08
Reliable Stores
Has Larger Net
And Volume

Reliable Stores Corp, which
has headquarters in Washing
ton, had net earnings of $685.
244 or $l.51 a share in the fiscal
year ended January 81, COM
pared with $688,385 or $1.18 a
share for the preceding year.
The years net sales amounted
to $27,517,765, compared with
$25.287,640 in the previous
period. a gain of 8.8 per cent,
President S. Meyer Barnett
reported also that the firm had
585,559 shares outstanding at
the years end, compared with
585,559 year earlier.
The firm had headquarters
at the Hub Furniture Co., one
of its 20 furniture and %
jewelry stores. Eight furniture
outlets and four jewelry stores
are in the Washington area.
Evening star., 1960-04-08
WheotIey Heads
Maryland Banks
Group Four

F. Ira Wheatley, assistant
vice president of Suburban
Trust Co.. was elected chair
man Of Group Four OF the
Maryland Bankers Association
last night.
Election took place at the
groups spring meeting at the
Oak Crest Country Club in
nearby Prince Georges County
Mr.. Wheatley succeeds James
p. CaSbarian, president of the
Bank of Maryland.
George w. Velenovsky, vice
president of the Annapolis
Banking and Trust Co., was
elected vice chairman of the
group.
j. M. Cough, jr., cashier of
the First National Bank of st.
Mary'S at Leonardtown, was
named secretary-treasurer.
Evening star., 1960-04-08
BY WILLIAM MacDOUGALL
Star stan Writer

The owners of an old drue
store building in Alexandris
decided to take one final lool
at the structure before turn.
ing it over to the wreckers the
next day.
up in the attic" recalled
Said Haddad. president Of the
ABC Demolition Corp, "they
discovered some old letters. one
with a stamp on it worth
$1,000"
A few hours later it would
have been his.
"Oh, WE'LL" he added with q
shrug, I'VE might not have
recognized it anyway"
Mr.. Haddad, like other Wash
ington area wreckers, is used
to uncovering unusual items in
the course of his business.
Growing Business
1t is one of the attractions,
he says, of operating one of
the areas three dozen wrecking
contracting businesses. To-
gether, according to unofficial
industry estimates, they crossed
from about $l12 to $21a mil
lion last year.
"The wrecking business has
picked up tremendously since
1885," declared Frank Kauf-
man. president of the National
Wrecking Co. The business
should expand even more in
the next few years"
The cause of the wrecking
industry'S optimism is a two
told development in Metropoli-
tan Washington.
Urban renewal is the first
OF these-a development which
has created more jobs and
work than ever before, accord
ing to industry leaders.
A second development is the
rapid growth of Office build
ingS in downtown Washington
which has necessitated the
clearing of large residential
areas.
ITS a growing industry" af-
f1rmed Jacob Hoffman, secre-
tary of the General Wrecking
Evening star., 1960-04-08

swimming pool construction
business and a branch in Nor
folk. His firm has contracted
for demolition from Pittsburgh
to Key West, and he estimates
that ABC has wrecked some 20,-
900 buildings in its day.
His employees, he said, num-
bered from 100 to $50. depend
ing on the season of the year.
The volume of wrecking +"
he said, "is many times more
than it was before World War
II. Redevelopment, the need
for new eSpressways and growth
OF the city have all contributed
to this"
Il am confident the business
in this area will continue to
grow" he said.
Evening star., 1960-04-08
TALKING OF BUSINESS
Building Wreckers Thrive Here;
Salvage Shrinks as Price Foctor
Labor Costs High

ICo. Business is the best in 20
years"
Labor Costs High
But Daniel j. Goodman,
secretary-treasurer of the Ace
Wrecking and Building Ma
terial Co., injected a note OF
caution. The wrecking buSi-
ness, he said, faces a number
of problems. many of which
are yet to be solved.
THE cost of common labor
is so high" he explained, that
the whole picture has changed
We have had to turn to equip
ment to do the work. but that
is expensive and destroys ma
terials. But it finishes the jot
| faster"
One industry official COM
planned that the Government
contracts were too often
wrapped in red tape.
They're always giving us
conflicting specifications and
opinions" he declared.
Another problem, according
to Mr.. Goodman, is the de-
creaSing market in this area
for used materials.
THE cost of reclaiming ma
terialS is so high" he said, that
they are not attractive to pur-
chaSerS. Ten years ago you
could salvage almost anything. 4"
He said the profit in the
wrecking business these days
must be realized mainly from
the demolition.
One item, however, remains
popular among Washington
buyers, according to Mr.. Had
dad.
Washington is a very good
used brick market" he said,
They are bought in tremen-
dous quantities"
Began on Courage
Mr.. Haddad's business, one
OF the areas largest, is typical
OF the industry. After hitch
hiking to Washington from the
Midwest in 1886, he went into
the business with a great deal
more courage than capital.
Today his holdings include a
3-acre yard in Alexandria con-
tanning practically everything
from gargoyleS to mantels, a
Evening star., 1960-04-08

the Maryland League OF Build
ing, Savings and Loan ASsocia-
tionS, who put up one of the
strongest fights in their history
in favor of the bill, expressed
bitter disappointment last
night on the veto.
A group of Baltimore asso-
Citations, most of them small
neighborhood groups, opposed
the regulatory measure through
a recent hearing before Gov.
Tawes. They contended their
organizations were operated
soundly and that the measure
would place them at an unfair
disadvantage.
Hard to Decide
Gov. Tawes in his veto mes
sage to the Legislature said the
veto was lone of the most diff
cult decisions I have been
called upon to make with re-
gard to legislative enactments." :"
He added:
The dilemma which con-
fronts me is created on the one
hand by my acute awareneSs
of the criticism directed against
this State and its lack of ap-
propriate regulations of savings
and loan associations and on
the other hand by my consid-
cred conviction that this legis-
lation represents neither an
adequate answer to this criti-
cism nor a proper approach to
the problem with which we are
faced"
Emphasizing that the bill
was an inadequate answer to
the regulation problem, Gov.
Tawes said he would give his
support to a more comprehen-
sive measure in the 1861 leg
iSlative session.
He announced plans to ap-
point a representative commit
tee representing all facets of
the savings and loan industry
in the State to work with a
committee of the Legislative
Council which has the problem
under study.
L shall further request this
co-ordinated committee to con-
duct a comprehensive study
and to assume the responsibility
OF promulgating and present.
ing appropriate legislation at
the 1861 session." he declared.
Gov. Tawes also complained
the residency requirements were
not sufficiently stringent. He
said they could be easily cir
cumvented by a firm incorpo-
rating in some other State and
tnen establishing branch Offices
IN Maryland.
Charges Politics
Carl Gottschalk, executive
secretary of the Maryland Saw
ings and Loan League, all Fed
orally insured associations, said
frankly he felt the veto was
politically inspired"
Expressing regret, he said:
I'VE feel that the general pub
lie in Maryland and the Legis-
lature are well enough ac-
quainted with the facts in this
case and that the Governor
Evening star., 1960-04-08
Gov. Towes Vetoes Bill
To Regulate Maryland
Sovinqs and Looms
By DONALD B. HADLEY
Star Financial Editor

result of a gubernatoria veto Maryland will continue
to be the savings regulations
the protection of investors.
Gov Tawes yesterday vetoed the Tydngs bill approved
by both houses of the Legislature last month.
Executives of the Maryland Savings and
Evening star., 1960-04-08
OVER COUNTER

Washington liStings on oyer-the-
counter markets furnished by the Ma
tlonal Association of Securities Dealers
as of nocn Friday, April s.
Evening star., 1960-04-08

evnes
fresh hmnfa antn
If v 8engne The
o
good dIBhu utigorHe calendar
a tho kmpn
See
Evening star., 1960-04-08
TREASURY BONDS

NEW YORK April 8 CAP) ).-Yester.
GAYS closing over.the-counter United /
states Government Treasury bonds.
Evening star., 1960-04-08
World Bank
Gains Funds
From Abroad

UNITED NATIONS, N. Y,
April 8 (AP).-Eugene R. Black
declared yesterday more than
half the funded debt of the
International Bank for Recon-
struction and Development is
held by investors outside the
United States.
Mr.. Black, the banks presi-
dent, reported the change in a
review of the banks activities
in the past year before the U. N.
Economic and Social Council.
He stressed its role in Africa,
saying that since last April it
has made nine loans in that
area totaling more than $3.50
million.
Hopes for IDA in Fall
He expressed hope also that
the proposed billion-dollar In
ternational Development Asso-
ciation which will make loans
on a more liberal basis than the
International Bank for Recon-
struction and Development, will
come into existence this fall.
The Senate Foreign Rela-
tionS Committee decided on
Tuesday to hold up action on
United States membership
pending additional study.
Mr.. Black noted that the
world bond market has been
uneasy for the last year and
in the United States has been
the worst in 80 years.
He said that as a conse-
quence the bank did not 90
into the United States market
with any new issue in 1859,
but waited until February of
this year before selling an is
sue of $l25 million in S per cent
bonds.
Approach Outside Markets
"On the other hand" he
added, I'VE made successful ap-
proacheS to several markets
outside the United States, in
Guiding our first public Offer
ing of deutSche mark bonds in
Germany and Belgian franc
bonds in Belgium"
He said the postwar phase
which saw the United States
providing most of the banks S
resources has come to an end,
and that if one takes in all
the banks resources, including
funds from capital subscrip-
tionS, sales of loans and the
like, more than so per cent
OF the total comes from outside
the United States.
Indeed, the banks largest
source of funds for the past
two years has been the Fed
eral Republic of Germany"
Evening star., 1960-04-08
FOREIGN EXCH'GE

NEW YORK, April S (AP).-Foreign
exchange rates (Great Britain and
Australia in dollars, others in cents
and decimalS Of a cent?:
Today pray IA,
Evening star., 1960-04-08

Co. Business is the best IN 20
uoorc
Evening star., 1960-06-07
WHEN 1T COMES TO SPEED
Photographs Lead
To Morals Arrest

A 33-year-old employe of a
Washington modelling agency
has been charged with con-
tributing to the delinquency of
a minor and possession of in
decent pictures, police said to-
day.
Deputy Chief Roy Blick said
the case came to light when a
16-year-old graduate of courses
offered by the modelling agency
complained that William E.
Finnerty of the 1900 block of
Thirty-fourth street NV. lured
her to his apartment and took
pictures of her partially in
the nude.
Chief Blick said the girl went
to the mans apartment late
last month and posed with a
woman.
The police official said a sub
sequent search of the apart
ment, with a United States
commissioners warrant, turned
up indecent" pictures of other
women. Also found were 80
unpaid parking tickets, Chief
Blick said. Finnerty was ar
rested last night.
Evening star., 1960-06-07
Fort Bragg Blast
Hurts IS Soldiers

FORT BRAGG, N. c., June 7
(AP).-An accidental explo-
sion occurred today while a
sergeant was teaching an Army
guerrilla outfit how to make a
time fuse. Fifteen soldiers were
injured.
The instructor, Sergt. Walter
J. Zacharewicz, and M /Sergt.
Arthur T. Fields were admitted
to Womack Army Hospital. A
spokesman said more of the in
jured may be admitted after
X-rayS are studied.
Sergt. Zacharewicz was re-
ported in serious condition:
NJ Sergt. Fields was treated for
shock.
The accident occurred on
the demolition range where
Sergt. zacharewicz was in
structing the class, members of
the 7th Special Forces Group.
An Army spokesman said a
spark apparently dropped into
a box of high explosive caps
and that Sergt. zacharewicz,
standing near the box, received
the full force of the explosion.
Evening star., 1960-06-07
JAPAN
Airport Tieup Faces
Eisenhower on Visit

tions yesterday to party Chair
man Inejiro ASanuma. He said
he would file them "at an op-
perfume time"
Apparently trying to divorce
the Eisenhower visit from the
controversy over the treaty.
the Liberal Democrats appealed
to the Socialists today to agree
to a To-day recess of Parlia-
ment. This would delay vail
dation of the treaty another
10 days, until June 20.
The Socialists said they
would only accept a recess as
a prelude to resignation of Mr..
Kishi's government.
The suggested from Senator
Fulbright, Democrat of Arkan-
sas, chairman of the United
States Senate Foreign Rela-
tions Committee, that the Pres
ldent postpone his visit drew
the expected Socialist ap-
proval.
Mr.. Fujiyama told a news
conference the United States
and japanese government were
going ahead with preparations
for the visit but there may be
still room for serious re-study
II such is made necessary by
the objective situation, partic-
ularly the security situation. ;"
Evening star., 1960-06-07
JurYConvicts
Ohio Teamster

CLEVELAND, June 7 (AP) .
"A Federal jury today con-
victed William Presser. head
of the 85,000-member Ohio
TeamsterS Council, of a charge
of obStructing justice.
Sentence was delayed when
his attorney announced he
would file a motion for a new
trial. The defendant impas-
sively heard the jury of six
men and six women polled to
verify the verdict.
In a Week-long trial the
Government presented evi-
dence designed to show that
the union official obstructed
the work of the Senate Rackets
Committee by tearing and mu-
tllating an invoice contained
in the records of Transfers
Joint Council Al in Cleveland.
Bender's Name on List
The records had been sub
poenaed by the committee in
September, 1858.
Maximum penalty for the of
fense would be five years in jail
or a $4,000 fine, or both.
Specifically, PresSer was
charged with tearing an in
voice from a jewelry firm, with
an attached Christmas list. "
so that the names of recipients
were missing.
The Christmas list was for
eight silver champagne buckets,
valued at about $1OO each. and
was dated December, 1855.
One name on the list was
that of George Bender, for
mer Republican Senator. in
1858 he had been appointed by
the TeamsterS Union to a COM
mission to clean up corruption
in the union.
Convicted of Contempt
Walter ]. Sheridan, an in
veStigator for the committee
testified at the trial that he
was sent to Cleveland to look
into any connection Mr.. Bender
might have with the union. He
said he found the invoice, but
when he returned for it later
it had been mutilated.
Presser later appeared before
the Rackets Committee, but
refused to answer certain ques-
tionS. AS a result, a Federal
Judge in Washington convicted
him of contempt of Congress.
His sentence of two months in
jail, and a 500 fine, has been
appealed.
Evening star., 1960-06-07
IS Token to Hospitals
After Fire in subway

Passengers were led above
ground through tunnel exits
by policemen, flremen and
trainmen. They told of a
nightmarish blackness, relieved
only by emergency lights which
automatically winked on when
regular power was cut off.
Fire Commissioner Edward
F. Cavanagh, jr., his face black
from smoke, said the blaze ap-
parently started in rubbish and
spread to cable insulation. 1t
forced suspension of all service
between Brooklyn Bridge and
Eighty-siXth street for three
hours. The line is on the Inter-
borough Rapid Transit Division
of the municipal subway system.
The fire broke out at 9:25
am, but rescuers. hampered
| by the binding smoke, were
unable to start leading out
passengers for more than an
hour.
Evening star., 1960-06-07

NEW YORK, June 7 (APD-
Hundreds of subway riders
fought their way to safety
through acrid. choking smoke
today after fire broke out in
a tunnel near Grand Central
Terminal.
A trainman said some pas
sengers became hySterical dur
ing a wait of more than ar
hour before rescuers could start
leading them out.
Several subway trains were
stalled in the smoke-f1lled tun-
mel section, but operation of
railroad lines into Grand Cen
tral was not affected.
Officials said 86 persons were
taken to hospitals for treat
ment. Many others were
treated, mostly for smoke in
halation, at emergency sta
tions set up on sidewalks neal
the Wrminal.
Evening star., 1960-06-07
Continued From First Page

Continued From First Page
South America this spring and
to Paris for the summit con-
ference last month. His COM
ments at those news confer
ences dealt largely with the
forthcoming trips.
1t was against this back
ground that Mrs. Wheaton was
asked if it could be that the
situation in Japan, where the
Socialist Party is working to
block the Eisenhower visit to
Japan as well as ratification of
a new Japanese-American Sc
curity treaty. made the Presi-
dent think it would be unwise
for him to subject himself to
news conference questioning at
this time.
She replied that the situa-
ton in Japan has no relation
to his decision not to have a
news conference tomorrow"
Mrs. Wheaton also said that
there are mo plans at the pres
ent time" for Mr.. Eisenhower
to make a television-radiC
speech to the country about his
forthcoming trip. She told
questioners that her use Of the
phrase at the present time
does not mean any plans are
in the making, but simply that
Evening star., 1960-06-07
HERTER
Continued From First Page

Continued From First Page
operation between Japan and
the United States"
He had been discussing the
demonstrations being staged by
the Socialists. Communists and
other left-wing groups in ia
pan against ratification of the
new treaty and President Ell
senhower's projected visit.
Mr.. Herter explained that the
new treaty modif1es the treaty
made in 1851 to make allow
ance for the headway Japan
has made in economic recovery
and in ability to defend itself.
He said the original treaty,
made at a time when Japan
had no military forces, gave
the United States much greater
latitude in maintaining troops
and bases in Japan than does
the new treaty.
June 19 Is Key Date
The Secretary explained that
the lower house of the Japanese
Diet approved the new treaty
on May 20. This action as
sures ratification provided the
Diet remains in session until
June l9 to give the upper house
time to consider it. If the up
per house fails to act by June
19 the treaty takes effect any
how.
The treaty went through the
Lower House, 243-0, but with
some members abstaining from
voting.
Mr.. Herter testified that on
the day of the vote in the
Lower House opponents of the
treaty kept the Speaker of the
House a prisoner in his room
in a desperate attempt to pre-
vent the House from meeting.
Finally he was released by po-
lice and the lower body acted
on the treaty.
Chairman Fulbright said he is
puzzled as to why the Socialists
are so much against this treaty,
which does not give the United
States as much leeway as ex-
listed under the old treaty for
military operations in Japan.
Object to Any U. S. Troops
Mr.. Herter replied that they
have objected because they
want no American troops of
any kind in Japan. He said
they want their country to de-
pend entirely on the United
Nations for protection. The
Secretary also reminded the
committee that the Chinese
and Soviet Communists have
carried on a steady campaign
against the treaty and said the
Socialists hope Ito strengthen
their ties with Communist
China"
Mr.. Herter. asked to define
the treaty area, repeated a