davidaulloa/AmericanStories huggingface dataset:
Evening star., 1960-06-21
Additional Discounts
For Dealers Opposed

A General Motors executive
appeared before another House
subcommittee to oppose pass
age of the so-called territory
security" bill, which would au-
thorize additional discounts for
automobile dealers.
James M. Roche, GIN vice
president for distribution, said
buyers of automobiles would
pay more if the bill becomes
law.
While the bill would author
ize additional discounts as a
territory security measure in
selling agreements, it would not
exclude from operation of the
antitrust and related laws, the
dealer franchise agreements
containing permiSsive pro-
visions of the new legislation,
he warned.
Evening star., 1960-06-21
New Economies Seen
InC.6O.-B O.Merqer

profit margins have been the
result of inadequate finances
more than any other single fac
tor" 1t said the merger ZAP
pears to be a natural" 1t will
be considered by the Inter-
state Commerce Commission.
For B&O stockholders, il
represents an opportunity to
Immediately enhance their
dividend income and security
thereof. as well as to partici-
pate in the fortunes of a new
system with attractive earnings
growth potentials," the publi-
cation asserted.
Evening star., 1960-06-21
j, ,478, TOO 1877 $1,474 ,O54, ,681 $1,45s ,672 O4l

Corp, appeared before a House
subcommittee today to express
strong opposition to House Bill
1902, which he charged would
place the FDIC under domina-
ton of. the Bureau of the
Budget.
Mr.. Wolcott recalled that all
who preceded him as chairman
have opposed similar bills on
the basis that they violated
principles upon which the cor
poration was founded.
mo public moneys are in
vested in the corporation and
no appropriations are request
ed by the corporations" he
emphasized. The case for
budget review and related con-
trolls over the corporation
rests upon a thin and weak
reed. the borrowing authority
of the corporation"
Emphasizing that the FDIC
should be free of political
pressures, Mr.. Wolcott said
the proposal is needless, un-
workable and unsound."
Evening star., 1960-06-21
Builders Slate
Planning Session
For Suburbs

Better planning for suburban
Maryland will be the theme of
the seventh annual Builders
Conference Day next Tuesday
at the Indian Spring Country
Club in Montgomery County.
The session will be held from
IL to 5 pm.
Sponsored by the Suburban
Maryland Builders Association,
the conference is aimed at pro-
noting desirable suburban de-
velopment.
Among the speakers will be
DR.. Jerome P. Picard, economic
and land use analyst; James H.
Scheuer, president of the Re-
newal Development Corp; T.
H. Cambell, jr., administrative
manager of Vitro Laboratories;
Blair Lee, III, Montgomery
County Delegate of the Mary
land Legislature.
Others will be j. Newton
Brewer, jr., chairman of the
Montgomery County Planning
Board; Herbert w. Wells,
chairman of the Prince Georges
County Planning Board; Carl
Norcross, executive editor OF
House and Home, and DR.
Nathan A. Baily, dean of the
School of Business Administra-
ton at American University.
Evening star., 1960-06-21
BY WILLIAM A. MILLIEN
Star STAFF Writer

Operating economies an d
improved financial stature are
foreseen if the proposed mer-
ger of the Chesapeake & Ohio
and Baltimore & Ohio Rail-
roads natures.
This was pointed up today
by Standard & Poor's Trans
.portation Securities publica-
tion. 1t said this may we'll
turn out to be the largest rail
merger in history" Directors
of the two railroads have ap-
proved a basis for exchange of
stocks and thus paved the way
for merger.
The publication declared:
While the potential traffic
benefits from a merger of C&O
and BIO could be far greater
than the huge economies to
be realized (the traffic poten-
tial is more unlimited than
operating economies, a strong
case for the desirability of an
eventual merger can be made on
the basis of prospective econ
omies alone. while both rail-
roads should benefit from
elimination of duplicate efforts
and facilities, the largest seq
ment of the economies must
necessarily result from a re-
duction of BIOS high-cost
operations.
"a reason for this is that
C&O is already operating at
highly efficient levels, while
BIO has been severely re-
strained by a severe shortage OF
capital. Last year BIO con-
verted only 6.22 per cent of op-
Grating revenues into pretax
net operating income, against
an above-average of 1911 per
cent for C&O. Because urgent
debt problems have taken pri-
ority of BIOS financial re-
sources in the postwar period,
the road has been unable to
channel sIIfficieY1f funds intn
cost-saving property improve
ments, particularly since part
of the available resources had
to be expended on non-cost
savings) equipment and facili-
ties required to meet the needs
of shippers"
Standard and Poor comment
ed there is every indication
therefore, that BIOS poor
Evening star., 1960-06-21

prices are a bit more than sea-
Sonal caused by the winter
weather and deliberate produc-
ton cuts, but, even so, a look
behind the average reveals
variations which any house.
wife can mold to her pocket
book advantage. Just as an
illustration, while pork chops
on average went UP from 80.8
cents to BAL cents a pound in
April, frying chicken went
down from 44.2 to A. cents.
A switch from chops to chick
ems would hardly seem to me
a deprivation. While the price
of potatoes scared, the price
of green beans slurnped and
similar variations appeared in
Iother vegetables, fruits.
Switches are a cinch.
In most goods these days
price changes are minor. Even
in services the pace of overall
rise is peceptibly slowing.
The new upswing in the Cpl
is not initiation. You can more
easily beat" this index today
than at any time since World
War II.
distributed 1860 by The Hall Syn
dicate, Inc. All Rights Reserved)
Evening star., 1960-06-21
Food Firms Spend
$100 Million q
Year on Research

WHITE SULPHUR SPRINGS
w. Va, June 81 (AP).-Food
processing firms now invest
more than $1OO million an
nually in basic and applied re-
search. Paul S. Willis, president
of the Grocery Manufacturers
OF America, Inc, said today.
The creation of thousands oi
new products now on retail
store shelves resulting from
this investment have helped
the industry expand to annual
sales of $76 billion a year, he
said at the groups annual mid
year meeting. Annual expan.
sion in recent years has beer
at the rate of SO billion, he
estimated.
Mr.. Wills said consumers to-
day are paying prices for food
which average no higher thar
in 1852.
Evening star., 1960-06-21
Rail Merger
Plan Pushed

ROANOKE, Va, June 81
(AP) "A Norfolk and West
ern-Nickel Plate merger may
be reality within a year and
a half, N&W President Stuart
II. Saunders said today.
I'VE are pushing as hard as
we can." Mr.. Saunders added
1--WE hope it will be quicke,
than that"
He said it still is too early
to give a definite estimate OF
the amount of time needed for
final approval of the merger
proposal. But he termed the
18-month estimate mot out OF
reason"
The NEW merger with the
Virginian Railway last Decem-
Der l took place about a year
after plans were first an
nounced.
Evening star., 1960-06-21
CHICAGO
LIVESTOCK

CHICAGO. June 81 (AP) CUsDA) -
Hogs 1000; butchers under $50 lbs
moderately Ective, 25 higher: butchers
over 230 lbs. fully steady: sows steady
to 25 lower; fairly good shipping de.
mad; mixed lots 1-2 and 1-3 190-23C
ID. butchers 1S.00-lS35: 81 head / 9
214 lbs. at 1886; around 200 head
mostly 1-2 190-22O lbs. 1925: mixed
lots l-3 and 2-3 10000 lbs. 80.
1900: mixed lot 1-3 and % 800
240 lbs. 17.0017.75; 2-3 and 3s 240-
go lbs. l6.25-17.25: % and rs
27O-300 lbs. 15.75-16.5O: a Shipment
3S 347 lb. butchers 1850; mixed
grade 2-3 and IS 330-4OO ID. sows
1901 500: 400-550 lbs 13.OO-l4 90
Cattle 1000; calves 100: slaughter
steers steady heifers steady to strong,
COWS steady to 25 lower, decline Of,
utility and commercial: bulls vealers
and stockers adm feeders steady; mixed
cholce ano prime steers 81 .5n-2S 25
I've loads d,lT5 lbs -2s;25: high choice
craze, choice 25.25-?6.5O; load iot
sood srades es @ 6o-S4%S s9!Sc standard aS9 snG IS
mixed utility and standard tloistein
steers 20.00-20.5O; a small lot Of high
choice 1,150-lb. heifers $3.50: good tc
choice 2l.25-26.OO: utility and com.
mercial cows 15.25-17,75; Gamers and
mercial bulls 1925-20.50: individua
at 81 90; good and choice vealers
"a 00-29 90; culls down to 200; Loaf
mostly choice 500 lb feeding steers
$3.50; load of good s15 lbs 90 90:
q load mostly good 500 lb stock steers
Evening star., 1960-06-21
Martin to Build
Improved Titan

BALTIMORE, June 81 (AP)
The Martin Co. has been
awarded an So million Air
Force contract to build a
larger, improved version of the
Titan intercontinental missile.
The 98-foot, 110-ton missile
has been fired five times this
year. roaring down the Atlantic
Ocean test range. 1t has a
potential range of 5000 miles.
The new version will be
ready to fire instantly, while
the present model must first
be lifted to the surface from
underground storage.
Martin had a $50 million
contract for the original Titan.
Evening star., 1960-06-21
High Court to Review
Brown-Kinney Case
Ry the Associated Press

The Supreme Court yester-
day agreed to review a decision
requiring Brown Shoe Co., Inc,
of st. Louis, to dispose of it's
interest in assets and business
of G. R. Kinney Co., Inc.
The decision, by the United
States District Court in st.
Louis. was that the acquisition
of Kinney by Brown violated
the Clayton antitrust act.
Brown appealed to the high
tribunal, contending the Dis
trict Court erred in it's con-
clusions.
The Clayton act says no
corporation may acquire an
other when "in any line of
commerce in any section of the
country, the effect may be
substantially to lessen compe-
tition or to tend to create q
monopoly"
Evening star., 1960-06-21
June Short Interest
Shows Slight Decline

NEW YORK, June 81 (AP)
The New York Stock Ex-
change yesterday reported the
short interest on June Is de-
creased to 3,239,342 shares
from the revised total of
1921, 1928 shares May 13.
The total was the lowest
since 3,165,338 April IA, 1860.
It represented one-tenth of l
per cent of total shares listed
compared with the May, 1881,
record of four-tenths of l per
cent.
Investors who sell short bor-
row stock to sell, hoping the
stock will decline in price so
they can re-purchase an equiv
alent amount at a profit and
thus repay the loan.
Evening star., 1960-06-21
Dart Drug Advances
After OFFERING

Glass A common shares of
Dart Drug Corp, which made
their market bow yesterday in
heavy oversubscription of an
offering of 100000 shares, were
quoted this afternoon at $6.25
bid and $3.50 asked or well
above the offering price of
SIS net.
The initial public offering of
! 200,000 shares included 10000
for the company'S account and
10000 for two major stockhold-
ers. Underwriters were Jones,
Kreeger & Co., and Hodgdon &
iCo. The company operates a
chain Of nine discount drug
stores in this area.
Evening star., 1960-06-21
Earnings

Southern Co., in IL months
ended May 81, earned $44,528,-
1853 or $1.98 a share VS.. $40,-
102, ,220 or $1.79 in 1859.
Detroit Edison Co., in IL
months ended May 81, earned
$35,727,444 or $2.48 a share VS.
$32,438,405 or $2.39 in 1859.
Ohio Edison Co., in IL months
ended May 81, earned $29, ,193,-
772 or $2.07 a share VS.. $26, $685.
95l or $1.87 in 1859.
American Can in 4 months
ended April 80 earned $685.
600, or SO cents a share, VS..
$11,772, 900, or SO cents, in 1858
period.
NOrthrOp Corp. in 9 months
ended April 80 earned $5,313,-
058, or $3.50 a share, VS.. S.
$4,000, or $3.06, in 1859 period
Central SOya Co. in 8 months
ended May 81 earned $2,763,-
871, or $1.01 a share, VS.. $4,-
829, ,631, or SLIT, in 1859 period
Stuart Co. in year ended
March 81 earned 81, ,l01, $40, OF
STAT a share, VS.. $1,071,872 OF
$1.43. in 1859.
Piedmont Aviation, Inc, in
months ended March 81 had a
loss of $270,355 VS.. a loss oi
$47,193 in 1859 period.
General PlywOOd in 6 months
ended April 80 had a loss OF
$500, ,604 VS. a loss of $164,247
in 1859 period.
Hecla Mining Co. in S months
ended May 81 had a loss oi
62,401 VS.. earnings of $780,
613, or 35 cents a share, in 1858
period.
Evening star., 1960-06-21
Stock Option Plan
For MeIpor Studied

To keep and attract outstand-
ing management and scientific
personnel at Melpar, Inc, which
develops and produces electron-
ic equipment for defense pur-
poses, the possibility of a stock
option or other incentive plan
is being studied by its parent,
Westinghouse Air Brake Co.,
Pittsburgh.
Westinghouse has secured the
consent of holders of at least
two-thirds of its outstanding
debentures and notes to sell up
to Is per cent Of Melpar's stock
Evening star., 1960-06-21
J. Allan Cook Heads
ANA Chapter Here

j. Allan Cook, professor of
marketing at Maryland Uni
versity, has been elected presi-
dent of Washington Chapter,
American Marketing Associa-
ton.
Other new officers: Raymond
w. Hoecker. Department Of
Agriculture, vice president;
Ralph L. Gillen, McKinsey &
Co., secretary; B. A. Sienkie-
wicz, Air Conditioning and Re.
frigeration Institute, treasurer
Evening star., 1960-06-21
Capital Bank Deposits
Up Slightly From 1859,
Gain During Quarter
By DONALD B. HADLEY
Financial Editor

Deposits of Washingtons ~ banks and trust companies
were slightly above 15 date of midyear
condition call issued today by Ray N Gdney controller of
the currency.
The total June Is $147S7OO7S7 the basis of
preliminary data from the banks compared with 8l
on June TO- comparable call date ahead
Iof 81, 041 March Is this year.
change in accounting tended to minimize
the small gain in deposits Deferred credits which
Included in the year ago total no longer included
This difference mainly affected totals of the three largest
banks Riggs National American Security and National Bank
of Washington Deferred credits the year ago figures
amounted to $4772 Riggs and smaller the other
institutions.
Despite exclusion of deferred credits Riggs National
showed sharp increases from both and March Is
this Other gamers from included: Bank of
Commerce First National Industrial Bank National Savings
and Security Bank
Individual bank totals for Is compared below
IN +l;.
Evening star., 1960-06-21
Niagara Power
IssueAwarded
To Syndicate

NEW YORK, June q (AP)
The New York State Power
Authority today awarded $10C
million of general revenue
bonds to an underwriting syn
dicate managed by Dillon. Read
& Co.; Halsey, Stuart g. Co.;
Kuhn, Loeb & Co.. and w. H
Morton & Co.
The issues consist of $50
million of AZ per cent term
bonds due 2006 and $40 million
of 31a and 324 per cent serial
bonds.
The term bonds were reof
fered at par and the serial
obligations due 1965-8O were
reoffered priced to yield 3.25
to $50 per cent.
Keen Demand Expected
Keen investor demand was
predicted for the securities.
Half the term bonds were
retained by the syndicate fol-
sale in big blocks to institu-
tional investors.
Longer maturities were re.
ported being sought by trust
companies, some life insurance
firms and casualty companies
The current offering bring.
to $500 million the bonds sole
by the power authority to fl.
nance the Niagara power
project. Another block of $10C
million is expected to be need
ed to complete the project.
Maryland Bonds Sold
Morgan Guaranty Trust Co
headed a syndicate awarded
$13, ,487,0 900 State of Maryland
certificates of indebtedness or
a bid of 100.18999 for a 3 pei
cent coupon.
Net interest cost to the State
was 2.98 per cent.
The securities due 1963-7s
were reoffered to yield 2.40 tx
3 per cent.
Evening star., 1960-06-21
BUSINESS
BRIEFS

Aluminium Production in May
totaled 175,863 short tons. Sec
ond highest monthly rate in
history, and up 1870 from May,
1959.-Aluminum Association.
tick Corp. of Waltham, Mass,
and Hermes Electronics Co., of
Cambridge. Mass, agreed to
merger, subject to Stockholder
approval.
Beneficial Finance Co. was
reported to be negotiating
with Gamble-Skogmo, Inc, for
working control of Western
Auto Supply Co.
Evening star., 1960-06-21
YOUR
MONEYS WORTH
Price Index Peak Not Initiation
BY SYLVIA PORTER

In couple of days the gov.
ernment will report that the
average price level of goods anc
services rose another notch last
month to the highest level ir
history.
Whenever the Bureau of La.
ibor Statistics announces an in.
crease in the consumer price
index-commonly but incorrect.
ly called the cost-of Living in
dex-it almost always hits the
front pages, and this time the
publicity is assured.
While the rise won't be more
than a fraction of a per cent
it will lift the price index to {
new peak approximating 1865
That means the "market-bas.
ket" of goods and services fol
which the average city family
paid $40 in 1947-49 and $1l.44
in 1858 when President Eisen.
hover took Office now cost.
around $12.65.
A primary force behind the
newest upsurge in the index i,
the rising price of many food!
due mostly to seasonal fac,
tors, but also to bad winteI
weather and production cuts BY
farmers planned to prop prices
of pork and eggs.
Service Costs Climb
Contributing to the increast
is the relentless climb in thu
prices of many services, mos
NOTABLY medical care.
But the seasonal factor,
pushing up food prices now viii
be tending to push them dowr
later in the summer when new
supplies reach the market" EN-,
phasized the Commissioner O.
Labor Statistics, Evan Clague
in an interview last week.
"At the end of 1860, the pros
poets still are the total rise il
consumer prices for the Who'll,
year will not be more than tn,
| 1a to Q per cent which has beer
the forecast all along.
THE wholesale price leve
actually has been remarkably
stable for months. Increases il
retail prices have been signif1
;antly spotty.
There are no indications W,
are starting a new upsurge il
the consumer price level-al
ways, of course, barring a war.
It's obvious that the level O
consumer prices will be
political issue in the fall cam
paign. The Republicans vii
point with pride to the fac
that the price rise has beel
slowed to a creep in recen
years, while the Democrats vii
point to the fact that despit
all the efforts made to halt tn,
rise, the index still is hittinI
new highs month after month
But the obvious politics O
the price level is not within tn
sphere of this column. Wha
is pertinent here is whether tn
latest increases mean you ar
about to be caught in a nev
round of imitation.
Answers Given
The vitality important answer
are:
These latest increases do no
reflect a new imitation upsurge
You are not about to b
caught in a new cost-of-livinj
spiral which will destroy tn
meaning of 1959-6O pay in
creases.
The current increases in foo
Evening star., 1960-06-21
Gas Service Starts
In Prince William

The Washington Gas Light
Co.'S incursion into Prince Will
liam County, Va, was observed
at a ceremony yesterday.
R. H. Bussard, vice president,
turned a key which fed gas
from the mains into the Presto
Valet and Cleaners, a laundro-
mat in Woodbridge, Va, owned
by William B. easel.
Evening star., 1960-06-21
Arlington Association
ToMork 18th Birthday

First Federal Savings & Loan
Association of Arlington, Va,
will celebrate its 25th anniver-
sary Thursday.
John P. Balster, executive
vice president, announced plans
for three silver anniversary
days starting Thursday and
through Saturday.
Evening star., 1960-06-21
Transit Declares
Quarterly Dividend

Directors of D. c. Transit
System, Inc. (Delaware). have
declared a dividend of 20 cents
a share on Class A common
stock, payable July II to stock
holders of record June 80.
Directors of Transportation
Corp. of America have declared
a quarterly dividend of ia
cents a share on Class A stock,
payable July IS to holders of
record June 80.
Evening star., 1960-06-21
Sofewoy to Open
NoyIor Road Store

The ninth store this year in
Sideways expansion program
will open at 9 am. tomorrow
at 1850 Naylor road, Sc. This
new store has a total area OF
about 10000 square feet ano
its parking place will accom-
modate l31 automobiles.
William R. Merryman will be
manager;
Evening star., 1960-06-21
harrington Corp. Has
Lorqer Net Loss

harrington Manufacturing
Corp, which owns the Intelli-
gent Machines Research Corp.
of Alexandria. Va, had a net
loss of $486,000 in the first
quarter of 1860, compared with
a deficit of $320,000 a year
earlier.
Sales for the three months
and equipment rentals
amounted to $3,749,000 VS.. ST.
943, 900 in the same 1855
-neriod.
Evening star., 1960-06-21
Citizens of Maryland
Votes Extra of 4 Pct.

Directors of the Citizens
Bank of Maryland have de-
clared an extra dividend of 4
per cent in addition to the
regular 2 per cent dividend on
the $40 par stock, it was an
nounced today by President
Alfred H. Smith.
The extra and regular divi-
dends totaling so cents a share
will be paid on June 80 to
stockholders of record June 20.
Evening star., 1960-06-21
Miss Poole Named
7st Federal Secretary

The election of Miss Marion
E. Poole as secretary Of the
First Federal Savings and Loan
Association of Washington was
announced by the board Of di-
Evening star., 1960-06-21
FDIC Chief Scores
Proposed Controls

Jesse Wolcott, chairman of
the Federal Deposit Insurance
Evening star., 1960-06-21

Irectors. She fills the vacancy
caused by the recent death OF
Thomas E. Lodge.
Evening star., 1960-06-21
OVER COUNTER

Washington listings on overtime
counter markets furnished by the Ma
tional Association Of Securities Dealers
as OF l pm. Tuesday, June 21:
Evening star., 1960-06-21
FOREIGN EXCH'GE

NEW YORK, June 81 AP).-For-
eign exchange rates Great Britain
and Australia in dollars. other in cents
and decimals Of a cent?
Today PreJ Nav
Evening star., 1960-06-21

Prices quoted in dollars and thirty
seconds.
Partially tax exempt.
Evening star., 1960-06-21
TREASURY BONDS

NEW YORK, June q (AP).-Yester.
days closing over.the counter United
States Government Treasury bonds.
The journal. (Caldwell, Ohio) 1934-1961, 1960-05-19
kennonsburq

KENNONSBURG - Mrs. Esth-
er Lashley entertained the Good
Cheer Circle at her home Tues
day evening with Mrs. Emma
Massie, co-hostess. Group one
presented the program and the
co-hostess contests. The June
meeting will be at the home of
Mrs. Emma Corbett.
Personals
Mr.. and Mrs. Eugene Ward and
grandson, Brian, were visiting
Mr.. and Mrs. Oliver Wells, Sat-
urday evening.
Mr.. and Mrs. VIM. Hague and
sons, Bobby, Jeffrey and David
of st. Clairsville, and Mrs. Mil
dred Hague of Martins Ferry,
were visiting Mr.. and Mrs. U. j.
Massie and Henry Hague, Sun
day.
Mr.. and Mrs. Rodney Purdum
of Massillon, are visiting Mr.. and
Mrs. Clayton Finley.
Mrs. Clyde Crum was visiting
Mrs. Betty Kohut, Monday.
Mr.. and Mrs. James Thomp-
son of Olivet, Mr.. and Mrs. Jim
mie Wehr, of Barnesville, spent
Sunday with Mr.. and Mrs. VIM.
Lashley.
Mr. and MrS Victor Williams
and children were visiting Mr..
and Mrs. Franklin McVicker at
Senecaville, Wednesday evening.
MIR. and Mrs. Harold House
were visiting Mrs. Hazel Will
liams, Sunday.
Mr.. and Mrs. r. j. Magis and
daughter, Becky were visiting
relatives in Bellaire, Tuesday.
The journal. (Caldwell, Ohio) 1934-1961, 1960-05-19

included: IneZ AddleSpurger,
editor; Judy Addlesburger, bust
ness manager; David OgIe, Carl
Stewart, Carol Johnson, Fred
Harper, Pat Slower, Carolyn
Teeters, Bernice Head and Velma
Johnston, staff members.
Gary Carroll received the lib
rarian award which is presented
to the student with the most
years of service.
Coach Paul Brown presented
athletic awards to the following:
reserve cneerleaders Nancy
Clymer, Marie Thesis and Sanara
Bates; reserve players - David
Lewis, Bill Parks, Gary Sabo,
Roger Lewis, Danny Miller and
Leroy Reed; varsity cheerlead-
ers - Judy Aadlesburger, Teri
McElfresh and Connie Smith;
varsity players George Nit
chell, James Arnold, Pat Slower,
Carl Stewart, Steven Binegar,