davidaulloa/AmericanStories huggingface dataset:
Evening star., 1960-04-06
OImsted Chairman
OF United Services

Maj. Gen. George Olmsted
USAR, was elevated to board
chairman of United Services
Life Insurance Co., and Lloyd
NJ. Bauman, executive vice
president, was elected president
of the firm at a board meeting
yesterday.
Directors declared a semi
annual dividend of 10 cents a
share, payable April 29 to hold
ers of record April Is.
Mr.. Olmsted will remain
chief executive officer of the
firm. Thomas F. Rourke, for
mer chairman, was elected
honorary chairman.
All directors we're reelected
at the annual meeting and
Gen. Olmsted reported assets
reached a new high of $38, ,397,- :
429 at the close of 1859.
Evening star., 1960-04-06

Searching tests that can
prove of vast benefit to all
aviation-a guest to determine
the wear-out life of an air.
plsne-are getting under way.
Douglas Aircraft and the Air
Force have launched the pro-
gram as high priority prof.
ect and later will be Joined by
several other aircraft manu-
facturers, seeking ways to pre-
dict just how tired an airplane
is.
Initial guinea pig in the tests
will be the Douglas C-133
CargOmaster, only plane now
capable of air-freighting a
fully-assembled Atlas ICBM.
The testing will be in five
complicated phases, using a
Douglas-developed data-handl-
ing system to speed up test
computations.
In addition to the cyclic
fatigue testing, the program
will go deep into recording of
gust data on a fleet of air.
craft. Only recently, the
Weather Bureau announced a
new emphasis on clear air tur-
bulence research, a field hold
ing many an unanswered ques-
ton for aviation.
BY coincidence, a new book
is out, telling of the early re-
search. testing and initial sue
cess of the first British de
Havilland Comets.
BY Derek d. Dempster and
Evening star., 1960-04-06
Millurd West
Heads Exchange
Committee Here

Millsrd West, jr., partner of
AuchinclosS, Parker & Red
path. has been named chairman
of the Washington committee
of the Philadelphia Baltimore
Stock Exchange, which operates
a bl anch here.
MIR. West was vice chairman
of the committee and then
became acting chairman on the
death of Clark Brown of Rohr-
baugh & Co.
Norman Farquhar of Alex.
Brown & Sons was appointed
vice chairman of the commit
tee and George NJ. Ferris, jr.
partner of Ferris & Co., was
named secretary treasurer.
James M. Johnston, partner
of Johnston, Lemon g. Co. is
a member of the Philadelphia
Baltimore Stock Exchanges s
Board of Governors. William
Mackall of Mackall g. Coe is
a governor of the EXCHANGES
clearing corporation.
Evening star., 1960-04-06

man, the report listed sales o1
$41,626,900 for the IL months
an increase of II per cent from
$37,763,200 in the previous Il
months.
Income before taxes totaled
S3,380,000 VS.. $2,855,800 and
provision for income taxes
amounted to $1,S43, 400 VS.. ST.
541. 700.
Somewhat less favorable, net
for six months ended January
81 was $1,169,60O or $2.38 a
share VS.. $1,163,800 or $2.54 a
share. The six months sales ex-
panded to $24.518,800 from
$22,245, 400 a year earlier. In
come before taxes was $2,533,-
200 VS.. $2,519,000 and provision
for income taxes was $1,363, 500
VS.. $1,355.20O.
Mr.. Dunn emphasized the re-
port was based on company
figures. unaudited and without
LIFO adjustments for inven-
tories. Sales of the De Pima
Divisions new Winchester
IN. " store and the Brooks
Bros. Division new San Fran
cisco store. both of which opened
for business last August, were
included.
For computation of per share
earnings, he noted the company
had 36.117 more common shares
outstanding on January 81 than
a year earlier. This was due to
payment of a 3 per cent stock
Evening star., 1960-04-06

Air Trance also is putting
Friendship on its schedule as
a co-terminal with New York,
Boston and Washington. .
Vice Admiral Harry Sanders
and William Beller have
joined American AyiatiOn's
Missiles and Rockets; the
admiral as a member of the
editorial advisory board: Mr..
Beller as engineering editor.
Evening star., 1960-04-06
FHemen's Insurance
Votes Stock Melon

Directors of Firemen's In
surance Co. of Washington have
declared a 10 per cent stock
dividend and will continue pres
ent cash dividend rates on the
additional stock, it was an
nounced by V. Manning Hoff-
man yesterday.
One new share will be dis
tributed for each 10 shares of
record at the close Apri! Is.
Payment will be made on
June /.
Distribution will be effected
by transfer from the unassigned
surplus account to the capital
stock account of around S48.-
900 consisting of 2,40O shares
with a par value of $40 each.
Directors and officers were re-
elected.
Evening star., 1960-04-06
Bank Of Virginia
ToHonor VEPCO

RICHMOND, Va. April s -
The Bank of Virginia's annual
salute to Virginia industry cita-
ton will go this year to the
Virginia Electric g. Power Co.
bank president Herbert C
Moseley announced yesterday
The citation will be presented
at a dinner meeting here
April 81.
Evening star., 1960-04-06
international Shoe
To Reduce Prices

ST. LOUIS, April 6 (AP).-
International Shoe Co. an
nounced general reductions in
virtually every category of
shoes it will manufacture for
the fall line.
Spokesman for the firm said
the reductions should permit
retail prices to be lowered in
some instances and in almost
every case the price cuts will
improve retail profit margins,
the announcement indicated.
The company did not reveal
the extent of the reduction.
Evening star., 1960-04-06
Pepsi-CoIo Shifts
Ad Agency

NEW YORK, April 6 (AP)
-Pepsi-Cola Co. today named
Batten, Barton, DurStine e.
Osborn as its advertising
agency to replace Kenyon &
Eckhardt. Inc. The account is
estimated to be worth IL to II
million dollars year.
Kenyon & Eckhardt had the
account since 1856. In March
PepSi-Cola invited IL agencies
to discuss the company's ad-
vertising program.
Evening star., 1960-04-06

the month has been unusually
large.
March had 9O5 degree days
compared with COL in March
last year and the previous rec
ord for the month. $50, back
in 1896. The institute didn't
miss the chance to point out
that fuel oil prices this year
we're only 14.1 cents a gallon
compared with 1873 cents a gall
lon a year ago.
Evening star., 1960-04-06
GorfinckeI Profits Up
II Pct. in Il Months,
Sales II Pct. Hiqher
BY DONALD B. HADLEY
star Financial Editor

Net income of Julius Garnckel g. Co. amounted to ST.
$4,000 $500 share IL ended January 81 after
taxes compared with s34IOO s282 preced-
ing period.
This disclosed today unaudited report
distributed to stockholders with quarterly dividend checks
Signed by Richard P Dunn president board
Evening star., 1960-04-06

dividend on December 81 and
also to conversion during the
year of 22,108 shares of the
Az per cent convertible stock
into an equal number of COM
mon shares.
Evening star., 1960-04-06
American Security Corporation

734 NV, Washington D. which affiliated with
AMERICAN SECURITY AND TRUST COMPANY, Washington
13. D. C. Federal Reserve district number 5:
Kind of business of this affiliate:
Management of and participation large construction
loan syndicate real estate agency including mortgage
servicing and property management insurance agency;
travel agency and investments.
Manner in which abovenamed organization is affiliated with
bank, degree of control:
The shareholders of American Security Corporation and
the stockholders of American Security Trust Com
pany exactly the each holds the
of shares and has the interest both.
Financial relations with bank
Stock of affiliated bank owned by the aff-
late par vaue)
Loans by the affiliate to affiliated bank None
Stock of affiliate registered of ahl-
lated bank known be owned by
bank directly indirectly (par None
Borrowings from affiliated bank, including
acceptances executed affiliated bank
for account of affiliate and securities
sold to affiliated bank under repurchase
Other obligations of the affiliate to- or known
be held by affiliated bank 81 1894 4139 32""
Other information disclose fully with
bank:
Two officers of the corporation three corpora
tions directors similar capacities with the affiliated
bank Each company provides services for the
other.
Except capacity as trustee for others
with no beneficial ownership in affiliated bank
Purchase money Indebtedness.
l. MALCOLM A. BELT, Assistant Vice President and
Treasurer of AMERICAN SECURITY CORPORATION do
olemny that the above true to the best
of my knowledge and belief.
MALCOLM A. BELT. Asst Vice Pres and Treas
Sworn and subscribed before me this oath day Of
March, 1860.
tsealJ AUSTIN W. FURMAN Notary Public D. c.
My expires July 81 1854.
Evening star., 1960-04-06
OVER COUNTER

WASHINGTON listinss on over-the-
counter markets furnished by the Ma
tional Association of Securities Dealers
as of l pm. Wednesday, April g:
Evening star., 1960-04-06
More Fuel Required
For Coolest March

From the Oil Heat Institute
of Washington comes word that
homeowners have just wealth
cred the coolest March on rec
ord and fuel consumption for
Evening star., 1960-04-06
MEMORANDA

MEMORANDA
81 Assets pledged or assigned to secure labili-
ties and for other purposes $28.939. 1925
L HENRY K. WILLARD II Treasurer of the
bank soemny that the above true
the best of my knowledge and belief.
HENRY K WILLARD H. Treasurer
District Of Columbia
and subscribed before this oath day March,
1860 hereby certify that director
of this bank.
(SealD RITA NJ. DRISCOLI, Notary Public.
My commission expires March IA. 1864.
Correct-AtteSt:
ROBERT c. BAKER, THORNTON w. OWEN
BENJAMIN w THORON, GEORGE B. BURRUS,
HOWARD KACY. c. F. JACOBSEN.
THOMAS D. CARSON, A. J SOMERV1LE,
LAWRENCE E. WILLIAMS JOHN c. RIIL,
EDGAR MORRIS ALVIN L. AUBNOE,
VIM. j. FATHER JR. GUSTAVE RING.
JAMES C WILKES, ANDREW SAUL.
D. BELL. Directors.
REPORT OF AN AFFILIATE OF A BANK Published in ac-
cordance Section SILL Report
of March is. 1860, of
Evening star., 1960-04-06
Charter No. 4107
Charter No. 4107 Reserve District No. 5
REPORT OF CONDITION OF THE
NATIONAL CAPITAL BANK

Of Washington. the District Columbia close of
business March 15 1860 Published in call
by Comptroller of the Currency under Section SILL u S.
Revised Statutes.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-11-29
Editor Advises Youths to Read Widely
And Learn How to Change Ones Mind

efforts to extend slavery and
enabled the fools and ia
natics on both sides to pre-
cipitate the American Civil
War. As late as 1860, 10
good hangings. about equally
divided between South and
North, would have halted the
drive to war. These are two
shopworn illustrations Of the
point.
History, which in general,
I believe, has been one of the
weakest points in our school
system, from grade schools
through college. needs also
to be taught with geography.
At this very moment it is
geography which calls the
tune for much Of our ma
tional defense plans, and it
Is geography which dictates
where NATO airports and
bases are being located. It
is geography, as much as oil,
which makes the Middle
East and North Africa so
vital a part of defense.
A man may speak out Of
his own experience. The
subjects I have needed most
are history and economies.
That one should study his
own language also goes with
out saying. But. also, one
Of the great lacks of most
American newspaper people
Is a foreign language.
And then, I would urge
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-11-29
New Regime Expected to Encounter
A Psychological Barrier in Plan

confiding to the financial
press their intention Of max
ing their effort as large an
embarrassment as possible
for President-elect Kennedy.
Their pious explanation Is
that they want it to serve as
q psychological barrier" to
the big spending schemes"
Of the Democrats. Their ap-
parent aim is to lay down q
battle plan for a conservative
coalition Of Republicans and
Southern Democrats in the
next Congress.
House Republican Leader
Halleck has proclaimed with
out secrecy or shame that
the building Of such q coali-
ton was his major weapon
until, Of course, that happy
day when he could. as
Speaker, lead a real Republic
can majority. He has been
very successful with 1t and
he was fortified November 8
last by the election Of % adj
ditional conservative Repub-
licans to the House.
This has not caused him
to neglect the care and en-
enlargement Of his Southern
allies. The major House
blockade o gainst Senator
Kennedy's liberal legislation
Is the Rules Committee, and
member Democrats have dis
cussed crashing 1t by removal
Of o Mississippi member.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-11-29
RALPH McGHL

Now and then I am pinned
down by a group Of eager
high school journalism stu
dents who have a few ques-
tions. My motto long has been
the only one really suited to
a newspaperman. namely:
Lord. give me this day, my
daily idea. and If necessary.
as it frequently will be. for
give me the one I had
yesterday"
Also, I learned long ago
the typewriter is a two-edged
instrument, and so I ap-
proach it with humility and
never with arrogance or a
feeling of superiority. 1t is
not that I attach any super
natural qualities to the type
writer. It is merely that I
learned, by being wounded,
it has the power to cut both
ways. So I respect it and
approach it always with that
understanding.
In the course Of the years,
many of my ideas have
changed. I have always
looked with pride on the fact
that today I find it possible
to change my mind when
confronted with valid reason
to do so. A philosopher once
declared: "A foolish consis-
tency is the hobgoblin Of
little minds" A person should
continue to learn as he goes
along. If one learns then one
changes ones mind. It is
QulCe inevitable.
One of the unfailing ques-
tons from younger people
standing questioningly before
the career Of newspaper work
is What should I study"
There are history and eco
nomics.
About that there can be no
argument. 1t should be a
study which teaches events
which reveal the social, eco
nomic and political forces
which bring the events into
being. Discovery of gold
and diamonds brought on the
Boer War in South Africa.
Economic pressures by the
industrial East into the ter
ritories and States met with
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-11-29
AVituI Report Lost Amid Words

for preservation Of the free
enterprise system. But this
appears to be contradicted by
recommendations for bigger
and bigger OUTLAWS Of Federal
money for sociological pur-
poses. Almost nowhere. except
In the dissenting portions Of
the report. 10 any concern ex-
hihited over the high rates Of
taxation faced by both BUSH
ness and individuals. No sug.
gestions are made on how to
produce more tax money,
though there are many thou
sands Of words about how to
increase national output and
augment our national growth.
Some generalities and alb.
stractions are to be found In
this report--as In many 9TH
ers and In public speeches by
prominent persons In both
political parties--in handling
delicately the subject Of rela-
tions between management
ana labor, The idea seems to
be that these two economic
groups. when properly ex-
horted. win cooperate in Q
Utopian manner. There is not
q single sentence about the
damage being done to the
whole economic structure
both in domestic and foreign
trade-hy the political ambi-
tons Of lahor-union leaders
who capitalize on greed and
selfishness and let the public
interest suffer. Much Is often
said about the need for higher
wages, but little is said about
the need for higher produc-
tivity and the elimination Of
waste.
Even an analysis Of the
Commissions report cannot
be done in q single dispatch,
especially as to those broad
and significant recommends
tons about nuclear weapons
and the whole Communist
operation in the cold war"
This in many ways affects
our national goals" more
than anything else In the
, realm Of national planning.
(copyright, 1e60)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-11-29
POTOMAC FEVER
By FLETCHER KNEBEL

Ode to the Treasury A dller dollar, American dollar
what makes fret and You used to pipe merry
song. Now others call the tune
Kennedy confers with Dean Acheson One thing about
travelling this New Frontier You lot Of old path
finders who vanished into the wilderness eight years ago.
Nixon Gov Rockefeller best for him in New
York You can blame Nixons defeat rash. immature
act by just two guys-Lincoln and Douglas
Baby John Kennedy jr gets congratulatory teegrams
Suggested wire from Grandpa Joe will
be your hobby but first Ted-right after Bobby"
The presidential campaign loud enough to wake
the dead Of whom turned In their graves-and
mailed in absentee ballots. ..-
Harry Truman says the American Medical Association
ornery Harry figures the doctors tend Republicans
Leaving Democrats with nothing but the patients
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-11-29
DORIS FLEEsoN

The new Democratic re-
gine has braced itself for q
final bequest from President
Eisenhower Of q balanced
budget. for the next fiscal
year which starts July !,
1861.
It's present information Is
that the President now has
before him four tentative
budgets. differing more or
less from one another In
amount and differing rather
more sharply in the distribu-
ton Of the spending totals.
The greatest distribution
differences are said to Lie in
the Defense Department
schedules, which is natural.
The greatest bulk Of Fed
eral spending is in Defense
and the greatest clash Of
opinion about the amounts
which should be spent for
the various weapons Of the
space age. It Is also the de-
partment with which it is
most dangerous to play
politics, for public opinion is
well settled on the need for
a strong defense.
The Federal budget Is
however and long has been
a political document to which
its authors point with pride
and which the opposition
views with alarm. Depart
ing Republicans are already
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-11-29
The Making of Young Journalists

reading. I do not know
whether planned reading is
superior to Just reading. My
imagination and desire to
read were stimulated by q
teacher at about the seventh.
grade level.
I was then reading two
books per day. Any book was
grist for my mill. The Henty
stories. the Rover boys, Civil
War stories, Bible stories, adj
venture books, wild animal
and nature volumes - all
these. and more. were de-
voured. I think perhaps
planned reading may be best,
but to do so causes one to
miss much. And who is to
do the planning? It may be
best just to pitch in and
read. putting aside any book
which, after getting a third
Of the way through, is still
un-interesting.
Also. I find myself regret
ting I did not study, and
master, Greek or Latin, pref
erably the former. From my
viewpoint. they provide bet
ter mental discipline and are
much more richly rewarding.
Finally, there Is poetry. I
recommend reading and me-
morizing great amounts of
1t. 1t is a necessary part of
the habit Of reading VOL
uminously.
And, Of course. write.
And always know that peo-
pie, and their lives, are the
most important studies out
side books.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-11-29

The apprehensions Of those
few men in public life who
believed that this country
would eventually get into
trouble If 1t continued to
spend recklessIy on all kinds
Of foreign aid are now being
substantiated.
In the Is years since World
War II this country has spent
at least $75 billion on eco
noTnic and military assist
ance; a hard-to-estimate
amount on the so-called on
shore, programs (providing
American troops abroad with
certain types Of weapons and
: supplies produced outside the
United States) and q vast
volume Of economic support
purchased for our allies and
friends outside our own coun-
try.
Some Of the expenditure
was essential to our defense.
Faced by the aggressiveness
Of International communism,
1t was up to us to help coun-
tries across the Atlantic and
Pacific to build up militarily
and economically. Some Of
the help to Communist coun-
tries such as Yugoslavia and
Poland Ito the tune of more
than SIS billion over 10
years. was money down q
rathole.
The contention Of our lead
ers Of both political parties
that dollars would wean
Yugoslavia and Poland away
from Moscow was fallacious
as was proven during the re-
cent United Nations gather
ing when Marshall Tito fully
Endorsed Premier Khrush-
chev's political views.
The total amount spent by
the American Government
over the last Is years Of
peace" cannot be estimated
easily. But it must be well
over $50 billion when we
count the approximately SIT
billion spent on the Korean
war. In addition, the billions
spent by American citizens
with the encouragement Of
the Government have also
greatly contributed to the
present gold crisis. About 2
million Americans vacation
abroad every year. It is esti-
mated they spend more than
SIS billion yearly.
With the consent Of WASH
ington. travel to support
foreign economies" has been
encouraged. A family or in
dividual needs only 500
down to make a trip costing
say $1,000. with the balance
payable over 20 months.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-11-29
CONSTANTINE BROWN
Apprehension Of Some U. S. Leaders
On Heoyy Spending Now Realized

Between le4s and 1850, the
Truman administration, in
order to assist the economic
recovery Of our allies and to
add to their dollar holdings,
decreed that tourists return
ing from abroad could bring
in $500 worth Of articles
without duty instead Of the
previous allowance Of 500.
Without interfering with
the tourist trade which has
become an important indus
try, the Treasury Depart
ment could save hundreds Of
millions Of dollars from flight
abroad by merely reverting
to the old exemption Of 500
per person.
Because of the good quail
ity Of foreign products and
their relatively low price due
to the lower cost Of produc-
ton, We have been import
Ing in the last few years an
unprecedented amount Of
foreign goods ranging from
Polish hams to German.
British. French and Italian
automobiles and German and
Japanese steel at prices with
which our manufacturers
cannot compete.
The cost of production has
induced many American in
dustrialists to export their
capital by buying or estab-
fishing their own plants
abroad. It is estimated that
more thain $32 billion has
been expatriated in the last
five years. This represents
not only a considerable loss
Of gold but also q loss of en-
ployment for more than one
million American workers.
It does not require a great
economic or financial brain
to realize that this dance of
billions initiated during the
war and followed up after
VJ-Day with almost reckless
disregard of the Nations
own economy would eventu-
ally be translated into the
present dollar crisis. No ma
ton throughout history has
been known to have mex
haustible resources. And
this applies to us at present.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1960-11-29
Democrats Await New Budget

Representative Colmer. who
backed the States rights
presidential electors Of his
State.
Mr.. Halleck Is comforting
with Representative Colmer
and Rules Chairman Smith
Of Virginia. another and even
more willy Kennedy hold-out.
1t is within the power Of
House Democrats to with
hold favors from their re-
calcitrant members, but they
can expect that whatever re-
sources Mr.. Halleck can en-
ploy to help the rebels will
be forthcoming in overflow
ing measure.
The immediate challenge
to the President-elect is the
selection Of q budget director
with the brains and stature
to command the attention
and confidence Of the coun-
try. That director win be
closer to the President than
anyone else can be except
his intimate personal adj
visers in the White House.
He must also be able to ex-
plain and defend himself
and the President-to Con-
gress.
It appears that he can also
expect to be q favorite whip
ping boy Of o Halleck- led
coalition. He must. in short.
be q big man and 1t is no
wonder that Senator Ken
needy is absorbed in the task
Of finding him almost ahead
Of any other helper.