davidaulloa/AmericanStories huggingface dataset:
Evening star., 1961-01-25
Reciprocal Poets
Blamed for Troubles

Representative Bailey. Dem
ocrat Of West Virginia, said
today that rs per cent Of Amer
ica's economic troubles-the
outflow Of United States gold
abroad and increasing unem-
ployment at home-"can be
laid at the door Of these damn
able reciprocal trade agree
ments."
Mr.. Bailey told 200 repre-
sentatives Of labor. industry
and agriculture. in a general
meeting Of the Nationwide
Committee on Import-Export
Policy at Hotel Washington
that unless the current admin
istration Of reciprocal trade
agreements is changed sharply,
unemployment will increase as
American industries are i'm
poverished by unfair foreign
competition.
Eleven labor unions. not now
members Of the committee.
participated in today's meet
ing. Before the conference
ends late today, union spokes-
men predicted the first major
break in organized labor's sup
port Of reciprocal trade agree
mentS.
Evening star., 1961-01-25
Speakers Optimistic
On Business Outlook

cent. Total consumer expend-
itures for goods and services
this year should reach $685.
billion.
Miles Colean, economist
Compared with 1860, construc-
ton expenditure Of little over
SIS billion for all new activity,
a rise of 4 to 5 per cent, to
about $57.4 billion, seems a
conservative probability. New
housing starts for the year
should be about $4,000 or about
Is per cent above 1860.
Cities to Enmesh
Jerome p. Pickard. research
director, Urban Land Institute
I'm 1880, the combined metro
politan regional areas of Balti-
more and Washington will
have begun to enmesh along a
wide frontier from Frederick
County southeastward to south
ern Anne Arundel County. The
population Of the District of
Columbia may further dimin-
ish from just under three
eighths Of the regional total
in 1860 to about one-fifth in
1880, while the shares Of sub
urban Maryland and Northern
Virginia increase steadily. The
population Of the region, dou-
bled in the last 20 years. will
double again in the next 80
years. Despite lessened growth
Of Federal employment. metro
politan Washington continued
at a relatively rapid growth.
Looks to Upturn
Frank E. Morris, research
director. Investment Bankers
Association of America: Expects
the current business recession
to be moderate, looks for ar
upturn in economic activity be-
ginning in the second or third
quarter Of the year; the first
quarter Of 1861 should produce
substantial improvement in the
liquidity position of the COM
mercial banking system, with a
likely further reduction of the
prime bank lending rate from
41a to 4 per cent. The great
problem is the balance of pay.
ments - the outward flow o1
gold - and until this is solved
interest rates cannot change
radically. For the first half oi
the year. the supply Of funds
seeking outlets in the mortgage
Evening star., 1961-01-25
D. c. Mortgage Lag
Reduced in December

First mortgage financing In
the District Of Columbia con-
tinued to lag behind a year
earlier In December, but by a
smaller margin than in pre-
ceding 1860 months, data from
the Washington Real Estate
Board showed. ...
First mortgages recorded in
December numbered s34 and
amounted to $21 .550.137, COM
pared with 858 for $24, ,902.216
IN December. 1860. The num-
ber was down only slightly and
the dollar volume was down
1874 per cent.
For all Of 1860, 9,977 first
mortgages amounted to $685.
095, ,023, compared with 10,919
for $307. .461,124 in 1859. The
decline in number was greater
than in December and the
drop in dollar volume was 2f
per cent,
Evening star., 1961-01-25

with a minimum Of fuss to
avoid embarrassing them.
Odors are q strong sales fac
tor In pipe tobacco, he points
out. The varieties come sprayed
with scents Of rum. cherry
apricot. vanilla, maple syrur
and even cinnamon.
Some Giddy Names
Naming a tobacco mixture
seems to bring out a giddy i'm
pulse in many manufacturers
They like to use saints-(St
Bruno, st. Julien), or animal
names (Exmoor Hunt boasts q
stag. and Handsome Dan a
picture Of the Yale bulldog
Others appear to be pure
stream m-of-consciousness, e. z.
Three Nuns. Baby's Bottom,
G4CoDy CSEldl.
In cigarettes some customers
keep coming back for brands
associated with their childhood
A few brands offered by Drap.
ers date back to the 18th
century. Among them are Swee,
Caporals, Piedmont, Picaylne
and Homerun, all American
varieties.
The owner admits he's had
q lifelong romance with to.
bacco. He's made special trip,
to New York to study the
Arents Collection on tobacco
literature at the public library
there. He's probably the t.nly
man in this area who keeps q
cigar store Indian in his Twins
room.
Mr.. Martin also collects
Oriental snuff bottles-of Jade
crystal and agate, many of then
gifts from his customers. Anc
ne smokes cigars. pipe and
cigarettes with equal pleasure
Il tried snuff too" he adds
but it nearly blew my head
off,"
Evening star., 1961-01-25
Area Facilities
ToBe0perated
By Enlertron

A new Delaware corpora
ton, Emertron, Inc, has been
organized as q wholly owned
subsidiary Of Emerson Radio
b Photograph Corp. and has
acquired the parent firms
Government and industrial
electronics business including
facilities in this area.
President Benjamin Abrams
Of the parent company today
announced the new subsidiary
has started operations and
that Morton P. Rome, Emer-
son vice president. has been
elected president. Corporate
offices are at Fourteenth and
Coles streets, Jersey City, N. j.
Harold Goldberg, former
vice president in charge Of
Research Laboratories at Sill
yer Spring. has been named
executive vice president Of
Emertron, Inc.
Rear Admiral John D.
Small. USNR retired, has be-
come board chairman. Ad-
miral Small formerly was
chairman Of the Munitions
Board.
Emertron has authorized
capital Of 250,000 shares Of
preferred stock and 5 million
common shares Of 81 par value.
The new company has acquired
all assets Of the Government
and industrial electronics divi-
sion Of Emerson Radio in ex-
change for 2 million common
shares.
Emertron operations include
Emerson Research Laboratories
In Silver Spring. Md, the field
service engineering operations,
with headquarters in Washing
ton, and the engineering and
manufacturing facilities in
Jersey City.
Emertron's staff exceeds
1000, including executive,
scientific, engineering, tech
nical and manufacturing per.
sonnel. The company has a
backlog Of contracts approxi-
mating $50 million, which was
transferred from the parent
firm with multimillion assets.
Evening star., 1961-01-25
BUSINESS
BRIEFS
Electric Power Production in

Electric Power Production in
the week ended January 81
totaled 14,S17,000, 900 kilowatt-
hours, compared with 1884
100000 in the previous week
and was 1870 above the like
week a year ago.-Edison Elec-
trio Institute.
Wholesale Food Index, based
on the cost Of a pound each
OF 81 foods in general use, this
week remained unchanged from
last week at $6.15 and was
4.2% above the like week a
year ago.-Dun & Bradstreet.
Bridgeport Brass Co. an
nounced it had purchased a
controlling interest in the
Seymour Manufacturing Co.
Howard Stores Corp. Deem
ber sales totaled $6,332,745, UP
42.7qo from 1859: for IL months
$4l. .95s.253. UP $500 from
1859. -
Elastic Stop Nut Corp. has
purchased $500 Of its own
shares on the open market in
an apparent effort to prevent
Amerace Corp. from winning
control. Amerace has offered
to buy UP to $4,000 shares at
$26 q share.
Evening star., 1961-01-25
BY WILLIAM A. MLLEN
Star stan Writer

An optimistic business pic
ture for 1861 was presented y@-
terday at the Ninth Business
Outlook Conference at the
Statler-Hilton Hotel.
The conference was co-spon-
sored by the Sales Executive
Club and the Advertising Club
of Washington and conducted
by the Metropolitan Washing
ton Board Of Trade.
Here are some highlightS Of
the conference:
John D. Barnett, general
manager. Washington area,
Sears. Roebuck and Co.-"If
businessmen 60 out after busi-
ness, it's there, but we need
better distribution. Retailers
have been sitting on their
hands but they must offer the
public values they want"
j. Arnold Anderson, vice
president. Safeway Stores Inc
His company is looking fol
q 4 to 5 per cent increase ir
operations; plans two new
processing plants and viii
stress increased efficiency tc
earn profits as costs are ex.
pected to go up around 4 to I
per cent.
Arthur Madison. vice presi.
dent, julius Garfinckel anc
Co.-Business upturn estimates
range from February to mid.
year. but there are evidence.
that the adjustment is about
over. If business uses the right
lure, it will entice money out
Of the savings banks. Expert.
agree there is now a better at.
mosphere and Government
spending Is anticipated, so HI
Is nightly optimistic" anc
looks for better than norma,
increase.
Business Showcase
DR.. Nathan A. Baily. dean
School of Business Administra-
tion, American University-The
future Of the Washington area
is very bright and wonderful. ii
business leaders exercise busi-
mess and civic leadership, look
ing to their knowledge. educa-
tion, experience. imagination
Initiative and resourcefulness
They will have to make the
private sector Of Washington q
showcase to demonstrate what
business enterprise in q free
society can achieve and con.
tribute and also aid in solving
problems Of transportation
highways, schools and public
facilities.
]. Gordon Dakins, executive
vice president, National Retail
Merchants Association-Looks
for total retail sales in 1861 te
top last years record by 2 pei
Evening star., 1961-01-25
Stock Increase
Asked by Bank
0fConlnlerce

Directors Of the Bank of
Commerce have voted to sub
NIT to stockholders q proposed
increase in capital stock to
permit issuance Of 10000 addi-
tional shares and their offer
ing to holders at q price of
$3.50 q share.
President Thomas j. Groom
today announced the directors
proposal in a letter accom-
panying a notice of the annual
stockholders meeting scheduled
at the banks main office at
II am. on Thursday, Febru-
ary %.
Mr.. Groom said that on the
basis Of present earnings di-
rectors expect they will be able
to maintain regular dividends
amounting to $40 a share per
annum plus an extra of 50 a
share on the increased number
Of shares, q total of $l2 a
share.
Proceeds Of the proposed
stock offering will amount to
$500, 900, Of which $200, 900 will
be credited to the banks capi-
tai account and the remaining
500, 900 will be credited to the
surplus account.
Subject to approval at the
annual meeting, it Is planned
to issue to stockholders trans
ferable subscription warrants
emitting them to buy one new
share for each four shares al
ready owned.
Each holder will receive full
share warrants and where hold
ings do not come out in mul.
tiples Of four, the necessary
warrants for fractional shares
will be issued.
In case a stockholder does
not wish to exercise purchase
rights. the rights can be sold
to others. Holders desiring to
purchase or sell rights should
contact brokers. No new stock
will be in fractional shares.
Upon completion Of the new
stock offering, the bank will
have capital Of 81 million, sur
plus Of SIT million and un-
divided profits Of $450,000 or
total capital funds Of $780,
900, Mr.. Groom pointed out in
his letter.
When new stock Is issued 1t
will participate in all dividends
paid after June 80. Mr.. Groom
said. This means the new
stock will participate fully in
the dividend which Is custom
arily declared payable Septem-
ber 80 to stockholders Of record
September 20, he declared.
Evening star., 1961-01-25
B&O-C&O Expected
To Save $50 Million

Merger Of the Baltimore g.
Ohio and Chesapeake & Ohio
Railroads promises annual saw
ings Of $50 million, not count
ing huge tax advantages and
unique opportunities for new
business, declared Walter J.
Tuohy. C&O president, last
night.
Replying to an advisory
services prediction the merger
might jeopardize the 81 annual
dividend rate Of C&O, Mr.
Tuohy said the rate is as firm
as at any time In the last four
years. Benefits from the mer-
ger are being grossly under.
stated, he declared.
Evening star., 1961-01-25
Directors Reelected
By Home BuiIdinu

Charles L. Norris. ST.. Law
renee w. Douglas and John c.
Harding were reelected for
three year terms as directors Of
Home Building Association at
the recent annual shareholders
meeting. All officers were were
renamed.
President Norris reported as
sets reached a new high Of $l5.-
339 ,263 on December 80 VS..
So. .682.8 a year earlier and
50, ,144,l51 at the end Of 1850.
Evening star., 1961-01-25
Alexandra Output
Aids FoyYinofon

Sale Of optical scaI1ners made
In Alexandria. Va. helped to
boost dollar volume Of Far
rington Manufacturing Co. to
nearly $40 million in 1860.
compared with around $11
million In 1859. President VIII
liam M. Tetrick told the
Washington Society Of Invest
ment Analysts OF q Presidential
Arms luncheon yesterday.
He predicted 1861 sales will
exceed $29 million.
The Alexandria operations
conducted by q subsidiary. the
Intelligent Machines Research
Corp. which was acquired by
Harrington two years ago. he
pointed out.
Five more major public
utilities have ordered Earring
ton optical scanners for post
Evening star., 1961-01-25
Assets of New D. G.
Fund Rise Sharply

Assets Of Shares in Ameri-
can Industry. Inc, a mutual
fund first offered here in De-
cember, 1859, totaled $304,201
on December 81, up SO per cent
since June 80, 1860, it was
announced by President Newton
I. Steers, jr.
Net asset value also in
creased l8 per cent in the
period, during a market decline
which lowered the Dow-Jones
average 3.9 per cent, Mr.. Steers
said. The firms portfolio in
cludes shares Of two area firms,
C-E-I-R. Inc, and Central
Charge Service. Inc.
Evening star., 1961-01-25

His Excellency Tunku Abdul
Rahman Putra al-Haj. Prime
Minister Of Malaga. bought
some cigars there.
"He likes Gulden Vleis Gig
ars." Mr.. Martin notes. Its q
Dutch brand. Means golden
fleece"
And a crooner named ST.
natra strolled in a couple OF
days ago to buy a humidor.
The shop offers a spectrum
Of products appealing to every
walk Of life. Roll-your-own
fans can find makin's there.
The carriage trade looking for
the ultimate can buy a straight
grain Barling briar pipe for
$65, an Austrian Meerschaum
for $40, or Balkan Sobranie
Turkish cigarettes at rs cents
for q pack Of 10.
Gains In Popularity
Little cigars-the pencil thin
varieties - have been growing
in popularity in recent years.
One advantage to manufac-
turers. according to Mr.. Mar
tin. is that they can be made
from scraps Of tobacco.
The little cigar is also fur
lively smoked by some women.
Mr.. Martin won't talk about
the local female celebrities who
puff cigarillos in their salons,
but he is glad to accommodate
them.
Probably the most taboo of
all tobaccos is snuff. Nobody
who comes In ever buys snuff
for himself" the owner re-
marks dryly. They always
want it for q relative or friend.
It's the sneakiest tobacco !
have" Mr.. Martin discreetly
slips snuff boxes to customers
Evening star., 1961-01-25
ALB Chapter Deboters
Will Go to Baltimore

A debate team from Wash
ington Chapter, American In
stitute of Banking, will meet
a team from Baltimore chap
ter in Baltimore Friday night.
Robert Pickeral Of Riggs Ma
tional and Edward c. Duncan,
jr., of Old Dominion Bank, are
members Of the Washington
team. Mrs. Ethel S. Miller Of
McLachlen Banking is alter
nate.
Evening star., 1961-01-25
TALKING OF BUSINESS
Shop Offers 'Fussy' Customers
Exotic and Domestic Toboccos
BY TRUMAN r. TEMPLE
Star star Writer


When Washington's Wax
Museum decided to create a
tableau Of the famous Yalta
Conference. it hit a snag:
Where on earth did FDR get
those little cigarette holders
that always jutted from his
jaw?
On a hunch, museum direc-
tors called up w. Curtis
Draper, Tobacconist, Inc. and
found the authentic item. Its
price: Five cents.
Actually, Mr.. Roosevelt
used to buy them from us for
three cents apiece" explains
William E. Martin, owner of
the tobacco shop at 500 Elev-
ent street NV, "but initiation
in the last Is years has pushed
them up"
The Draper store has been
providing specialized tobacco
needs Of Washingtonians. both
VIPs and ordinary pipe
smokers, since 1887. It 'occu-
pies little space-a Cadillac
would fill the entire store-but
offers q range Of products
secured from remote corners
Of the globe.
Fussy People
MY customers are the fus-
siest damned people on earth.
That's why they're here" Mr..
Martin declares.
For the pipe smoker, the
store stocks 800 brands Of to-
bacco. There are about $50
brands of cigarettes on hand,
including Sobranies from Lon
don with black paper and gold
tips. The cigar brands run in
the hundreds.
Not content with that, the
store also stocks Is separate
varieties Of snuff. It has pipes
and lighters by the dozen,
and for the man who's way out,
wax matches from Italy. (They
burn a bit longer than wooden
oneS.)
Mr.. Martin came to work for
Mr.. Draper on April Fools Day,
1882. He left to be an ac-
countant elsewhere for nine
years, but couldn't resist the
smell Of the place.
II liked the atmosphere, the
color and romance of it much
better than sitting behind q
desk shuffling papers," he ex-
plains. Mr.. Draper, who died
last April, sold the store to Mr..
Martin in 1916.
Served Presidents
Somehow every local smoker
ultimately gets around to Wis
iting the store. Calvin Coolidge
used to walk down from the
White House and buy his Cor
ona Coronas there at go cents
apiece (plus a nickel holder for
each one).
Herbert Hoover in q recent
year acquired a briar pipe from
Drapers. When he visited
Washington last November,
Evening star., 1961-01-25
Prudential to Leuse
Eastern 10 Bio Jets

NEW YORK, Jan. IS (AP).
Prudential Insurance Co.
will purchase 10 Boeing 720
jets and lease them to Eastern
Air Lines. Inc. for 10 years
under a $47.7 million agree
ment.
Announcement by Eastern
Air Lines said the agreement
will enable 1t to obtain addi-
tional jets without the capital
investment required to buy
them.
The 10 airliners are sched.
uled to be delivered late this
year.
Evening star., 1961-01-25
Courtney Johnson
Heads ConsuItonts

Courtney johnson, former
Assistant Secretary OF the
Army for logistics, has been
elected president and director
Of Technical Industrial Con-
sultants. Inc, Of Washington.
He was special consultant to
Secretary Higgins for produc-
ton engineering and industrial
before becoming deputy assist
ant secretary in November,
secretary in March, 1859. A
graduate Of Princeton, he was
with Studebaker and Stude-
baker-Packard from 1889 to
1855.
Evening star., 1961-01-25

markets will probably exceed
demand and the downward
pressure on mortgage interest
rates will continue.
Henry Kaufman. advertising
man. who moderated part of
the afternoon session, declared
that businessmen should not
be ashamed to defend their own
interests. adding there is moth
ing wrong with legitimate pres
sure groups.
Evening star., 1961-01-25

man of the joint chiefs Of staff,
has been selected as winner Of
the 1860 James Forrestal Me-
mortal Award. the National Sc
curity Industrial Association
announced today.
Gen. Twining will receive q
citation and a gold medal at
"a dinner at the Sheraton-Park
Hotel tomorrow night.
Evening star., 1961-01-25

ing payments to customer &C
counts, Mr.. Tetrick reported.
-Four such organizations have
been operating the scanners
successfully, he added.
Evening star., 1961-01-25
FOREIGN
EXCHANGE

NEW YORK, Jan. 25 (AP).-Foreisn
exchange rates tGreat Britain and
Australia In dollars. others in cents
ana decimals Of a cent?:
Today Prev. Day
Evening star., 1961-01-25
Gen. Twining to Get
ForYestoI Award

! Gen. Nathan F. Twining.
USAF, retired, former chair
Evening star., 1961-01-25
More u. S. Funds Add
To Record Deposits Of
Washington Banks
BY DONALD B. HADLEY
Star Financial Editor

washingtons banks held Federal funds than year
earlier at the close Of 1861 but deposits would have set
year-end condition call from Russell Bolton. vice president
Of the National Savings & Trust Co. today
Revised figures for the December 81 call date showed
total Of $l55s443178 for the u institutions gain Of
from earlier and $75392992 ahead Of the
total for the preceding bank call last October 3.
Mr. Bolton pointed out the District institutions held
$29874472 in their treasury tax and loan accounts De-
cenber 81 gain Of $019274 from $975598 at the close
Almost all OF the banks showed deposit gains from
and all but four showed increases October There
were IL banks in the District up to the years close although
the merger Anacosta into National Bank of Washington
shrunk to II.
Yearend deposit totals for the individual banks are
compared below with year earlier and October 1850:
:. NATIONAL BANKS RI
r Dec 81. 1860 Dec. 81. 1859 Oct 8, 1860
Anacostia - 2e.es12s5 25.slo.ls7 27.7s7sss
Natl Bank Of Wash. 2s5sss791 25ssT,ssi 2Ss's4s4io
Nationsl % Capital 2O'si454s Is.Issool 2o,lss4s4
Total ---------$ 8sO4ss4l7 s2845sl57 82635l s92
:. SAVINGS BANKS
Bank Of Commerce 36sS7so3 33ss1 2o4 3672sO2s
sDsLsa MsIashlsn sss1osss ss!ssss7 ss5sssis
Total ---------s lO7sO4264 lO454ll8O lo8Os8 1850
=, TRUST COMPANIES
American Secur. 80 355 3l8 31 ISL 500
Union Trust ssss Co. issss % ,issssss7 lSsa7osos
Total ----------$ 56OO754s6 526s7l7s8 5486lOsl4
REHABILITATION
National Banks S904634l7 s459l57 692
sonsn.. gsnEs ass so s9s
Total -slS5s.44s,l7s sl4Ss s72o7s sl4sso5olss
Evening star., 1961-01-25
Earnings

American Marietta Co. in
year ended November 80 earned
$24. 4.429,357 or $1.80 a share VS..
$22.777.s72 or $1.92 in 1859.
Automatic Canteen In year
ended October earned 1884,
015 or 73 cents a share VS..
$4.698.781 or SO cents in 1859.
Indian Head Mills in year
ended December 3 earned
So, ,604 900 or $5.48 a share VS..
$500 900 or $5.27 in 1889.
Spencer Chemical in six
months ended December 81
earned $2.144.929 or SO cents a
share VS.. $2.673,997 or SO cents
in 1859 period.
Daystrom, Inc. in nine
months ended December 81
earned $1,121 900 or 80 cents q
share VS.. 81 ,405. 900 or SLIP in
1859 period.
Cessna Aircraft In three
months ended December 81
earned 81. .698, 900 or SO cents q
share vs.. 81 .684 1888 or 50 cents
In 1859 period.
Other earnings included:
Evening star., 1961-01-25
DIVIDENDS

Wednesdays Ist Dividends Declared
Pc Stk. Of Pay
Rate riod Record able
Evening star., 1961-01-25
MUTUAL FUNDS

NEW YORK (AP)
- National Associa.
tion Securities Deal
err. Inc.
Evening star., 1961-01-25

Total
Evening star. [volume] (Washington, D.C.) 1854-1972, 1961-09-07
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