davidaulloa/AmericanStories huggingface dataset:
Evening star., 1961-12-02
POTOMAC
Continued From Page B-1

Continued From Page B-I
a vaulted ceiling gives an
air of spaciousneSs. The white
plaster on the ceiling as a
contrast to the solid oak
beams, makes all of the rooms
look larger than they actually
are.
Mrs. Semmes has brought
in Nan Hemingway of De-
signs Specifications to deco
rate her weekend house. She
has made it a point to pre-
serve the rustic atmosphere.
Mr.. Semmes is particularly
pleased with his new place
because the Potomac Hunt
generally forms just outside
his front door.
The parcel of land is part
of the well known Great
Elm Farm" which is owned
by Mr.. Semmes' father and
has long been used by the
Potomac Hunt. The new
house is located on Glen
road, about a mile and a
half from the village of Po-
tomac.
Evening star., 1961-12-02
Continued From Page B-1

Continued From Page B-1
instead of January, as in
past years. to give builders
a better lead time in which
to utilize new techniques and
materials they will learn
about in their spring building
programs.
The Home Builders AsSoci-
alton of Metropolitan Wash
ington will send a record del
egation of 1879 delegates led
by Stephen G. Yeonas. the
president.
Interest In the convention
is running particularly high
in the Washington area group,
the NAHB's second largest
member association. because
nearby Maryland builder w.
Evans Buchanan is up for
election as first wee preSl-
dent of the national organ
ization.
Others from this area who
play a leading role in the con-
vention are: Mr.. Yeonas,
chairman of the NAHB Mar
keting and Merchandising
Committee, who will preside
at Marketing Clinics at the
convention, and Frank Cal
cara, past president Of the
HBAMW and chairman of
the National Producers
Council-NAHB Committee,
who will be a featured speaker
at the first Restoration Clinic
ever held at a NAHB ma
tional convention.
Evening star., 1961-12-02
Hints for Home Care

slightly. The water closets
should be shut off and not
flushed during this expert
ment.
This draining of the pip
ing system will correct the
condition most of the time.
In extreme cases, it is nee
eSSary to install special shock
abSorbers at strategic points
in the system. which require
professional attention.
Lock PreseFver
The application of petro-
leum jelly inside new locks
will prevent them from rust
ing and make it easier to
open the lock with one turn
of the key.
Evening star., 1961-12-02
FILA Loan Application Rise

home applications in Oc-
tober were 45,400, only one
per cent over the September
figure.
Applications on multi
family projects covered g.
300 units in october, an in
crease of 80 per cent over
the previous month.
The number of homes
started under FILA inspec-
ton during october was 90
300, a II per cent increase
over the September figure.
Evening star., 1961-12-02

Some hints for the home
owner:
An easily made and mex
penSive household item that
the lady of the house will
really appreciate can be made
by the home handyman in an
evening or two.
It's a lightweight clean
ing stool on casters, made
from a panel of sanded ply
wood. BY putting in COM
partments on both sides for
storage of often-used clean
ing supplies, the portable
unit will come in handy Ell
ther for sitting-down clean
ing chores or as a knee pro-
tector.
1t can serve both purposes
merely by placing a latex
foam rubber pad on the seat
of the stool. The rubber
should be an inch and one
half thick and be covered
with a vinyl fabric. For floor
cleaning tasks, the pad is
slipped off the stool and used
on the floor.
Furrins Strips
When putting fiberboard
tiles on a ceiling. it usually
is necessary to install fur
ring strips to which the tiles
can be stapled or nailed.
Be sure to place the fur
ring strips II inches apart
on center; that is, IL inches
from the center of one strip
to the center of the next. In
that way, you can use IL by
IL tiles which can be fitted
together in the center of
each strip.
House cutters. whether Of
metal or wood, will last
longer if given an asphalt
asbestos protective coating
Evening star., 1961-12-02

Applications received by
the Federal Housing Ad-
,ministration during October
for mortgage insurance on
new and existing homes COW
cred $500 units, an increase
of five per cent over the
comparable figure for Sep
tember, the agency has re-
ported.
Most of the gain was the
result of a rise in new homes
/. applications, which at 22,100
units, was up l3 per cent
from September. Existing
Evening star., 1961-12-02

ARTHUR P. WILCOX
The NotionoI Assoeio-
tion Of ReoI Estote
Boords hos elected
Arthur Wilcox, vice
president Of A. W.
Perry, Inc, Boston, and
ehoirmon Of the Rock
Iond Trust Co., as its
1862 president. He
succeeds o. 6. Powell,
Des Moines, and will
take office here at a
NAREB m e etins in
Jonuory.
Evening star., 1961-12-07
BNAtoOffer
New Type Of
Data Service

A type of consumer report
for prospective users of COM
puterS was announced Jointly
yesterday by the Bureau of Ma
tional Affairs, Inc, Washington
publishing house. and Auer-
bach Corp.
Not for the casual student
the service will provide de-
tailed information about the
scores of American and for
eign electronic data processing
machines now on the market
Auerbach Corp. is a Phila
delphia engineering firm that
has been gathering data in the
EDP field for several years. Its
president. Isaac L. Auerbach
is founder of the international
Federation for Information
Processing. BNA is a we'll
known publisher of newsletters
and books in labor, legal and
business fields.
The monthly service is titled
Auerbach BNA Standard EDF
Reports. 1t will provide loose
leaf charts enabling a buyer to
compare brands and keep
abreast OF new developments,
Related equipment such as op-
tical scanners and high-Speed
printers will also be reviewed.
Evening star., 1961-12-07
WuchteI & Co.,
New Securities
Firm, Started

A new Washington securities
firm, Wachtel g. Co., has be-
gun operations in the Secur-
tiles Building at 729 Fifteenth
street NV, it was an
nounced today by Sidney B.
Wachtel, managing partner.
Mr.. Wachtel formerly was
manager of the Washington Of
flee of A. T. Brod & Co. and
was director OF that firms in
vestment advisory department
The announcement said the
new firm will operate as a
oker-dealer- underwater. Of
fering facilities for the pur-
chase of listed and unlisted
stocks, and mutual funds.
Before joining the Brod firm,
Mr.. Wachtel was with the
Washington office of Laidlaw
Co. Previously he held several
Government jobs. He served in
the Air Force in World War II
and was on the staff of the
New York University school of
business.
Evening star., 1961-12-07

share, VS.. $4,000, or 80 cents
"a share in the 1860 period
which included a non-recurrine
profit of $1,617,0OO from the
sale of land.
Warner Bros. Pictures in the
year to August 81 earned ST.
100000, or $5.97 a share, VS.,
$7,l02,000, or $4.64 a share, in
the 1860 period.
Berkey Photo in nine months
to September 80 earned $245,-
1888, or 25 cents a share. VS.
$451 ,2l3, or As cents a share in
the 1860 period.
Could National Batteries in
six months to October 81 earned
S2,l44,846. or $1.23 a share. VS.
$l,88l.868, or SLIP a share, ir
the 1860 period,
Random House, Inc, in {
months to October 81 earned
81 .628,985, or $1.27 a share, VS.
81 ,189,159. or 95 cents a share
in the 1860 period.
Starrett Corp. in eight
months to August 81 earned
81, ,522,l71. including a gain OF
81 ,451 ,693 from sales of invest
ments and partnership in
terestS.
Evening star., 1961-12-07

completes consideration of a
bill to give Du Pont Sharehold-
ers tax relief in the huge stock
transaction.
Mr.. Greenwalt testified yes
terday about a contemplated
program of divestiture under
the present tax law. 1t would
be changed If Congress provides
tax relief.
The problem, he said, is to
devise the best method of dis
posing of the GIN stock over
a l0-year period with that
least economic consequences to
shareholders"
Four Steps Suggested
He said a flexible program
would be most advantageous
and it would include these four
disposal steps:
l. An offer to Du Pont share
holders to exchange GIN stock
for Du Pont stock. The COM
pany, he estimated, might dis
pose of about II million GIN
shares in this way.
2. Distribution of some GIN
stock to Du Pont shareholders
in lieu of cash dividends on Du
Pont stock. A percentage of the
dividends would be paid out in
this way and the distribution
would involve about Is million
GIN shares.
3. Some stock-about is mil
lion shares-could be given
to charitable trusts and the in
come would be used in place of
the SIS to So million Du Pont
annually distributes through
these trusts.
4. Du Pont would sell the
balance of its GIN shares in the
open market over a 10-year
span.
Premium Necessary
Mr.. Greenewalt testified he
could not forecast definitely
how many GIN shares would be
disposed Of by these methods.
With regard to the exchange
of-Stock' step, he said a premium
would have to be offered to
Du Pont stockholders to induce
them to participate in the pro-
gram. The maximum premium,
he said. could not exceed the
call price of Du Pont stock.
Another witness, Sumner
Emerson. partner in Morgan,
Stanley Co.. New York, said the
vast stock disposed program
would result in material SELL
ing" of GIN stock.
Sixty three million shares of
GIN stock will be hanging over
the market for 10 years" he
testified. This will certainly
act as a depressant on the mar
ket."
Evening star., 1961-12-07
New Cars Sell
LikeHotCakes

DETROIT. Dec. 7 (AP).-
New cars are selling like hot
cakes. It's the biggest boom
since auto sales set an all-time
record in 1855.
Dealers delivered an average
of 23,398 new domestic cars on
each of November's 81 selling
days. That's the highest daily
selling rate since September,
1855.
Wards Reports. a statistical
service. estimated yesterday
total November sales of 584, 800
cars and $4,000 imported cars.
The previous November record,
set in 1855 and equaled last
year, was $4,000 domestic cars.
General Motors, Ford and
American Motors set records
for the month. Studebaker-
Packard showed an lib per
cent gain over a year ago
ChrySler failed to equal or bet
ter last November, but its drop
OF 1876 per cent was the closest
it has come all year to match
ing its 1860 performance.
Evening star., 1961-12-07
Du Pont Outlines Plan
To Dispose of GIN

CHICAGO, Dec. 7 (AP).-
Crawford H. Greenewalt, presi-
dent Of the Du Pont Co.. has
outlined the steps now being
considered for dispoSing of the
firms SO million shares of Cen
eral Motors Corp. stock.
Under the present tax law,
he said, about 26 million shares
of GIN would be exchanged for
Du Pont stock or given to Du
Pont shareholders in lieu of
cash dividends, and about 35
million shares would be sold
on the open market.
The United States Supreme
Court, acting to end a l2-year-
old antitrust case, ruled in
May that Du Pont must divest
itself of its holdings of GIN
stock-a block worth more
than SO billion.
The high court directed
Judge Walter j. La Buy of the
United States District Court in
Chicago to enter the final or
der in the case.
Prelude to Final Order
The jurist now is holding
hearings as a prelude to draft
ing the final order. Du Pont
has urged the judge to delay
the final order until Congress
Evening star., 1961-12-07
Alexandra Savings
Doubles Its Assets

T. Alexandria Savings and Loan
Association has doubled its
assets in just three years, re-
ported Samuel C. King. execu-
tive vice president.
Assets totaled $2,O41,150 on
December l, compared with
81 ,008,360 on the same 1858
date. They also were 81 per
cent above a year earlier, Mr..
King said.
The association was estab-
lished in 1868 as the German
Cooperative Building Associa-
ton and is the oldest savings
and loan association in Virginia.
Alexandria Savings is a men,
ber Of the Federal Home Loan
Bank of Greensboro and all of
its accounts are insured by the
Evening star., 1961-12-07
BUSINESS BRIEFS

Business Loans in the week
ended Wednesday at reporting
member banks in leading cities
increased by S87 million to a
total of $32,131 900. 900, an in
crease of Sl59 million over a
year before Federal Reserve
Board.
Total Trucks Registered in the
United States reached 11,042,-
ITO on July l. up 239.811 from
the same date a year ago, and
topping II million for the first
timer. L. Polk & Co.
FritO-Lay. the Nations larg-
est producer of potato chips
and corn chips. reported record
sales and profits. Sales reached
S127 ,447,42l in the fiscal year
ended August 26. VS.. S123,737,-
l8o the previous year. Net
profits Climbed to $4,678,931, or
Sl.l2 a share from S4,077,l42
or SO cents a share.
Jewel Tea Co.. Inc, said bar
ring unexpected DEVELOPMENTS
1t will purchase the Turnstyle
Corp, operator of four discount
department stores in the Boston
area.
Hunt Food e. Industries
and W. P. Fuller and Co.,
paint manufacturers. an
nounced they are discussing a
merger based on the exchange
OF .525 shares of Hunt stock
for each share of Fuller stock.
Some $4,000 Hunt shares val
ued at about S27 million would
be involved.
Aluminium, Ltd, announced
plans for a new company. AL
can Aluminium of Nigeria, Ltd,
to begin construction shortly
OF an aluminium rolling mill at
Port Harcourt, Nigeria. Alumi-
mum, Ltd, said it will be the
major stockholder in the new
company.
Gulf Oil Corp. announced
plans to build a refinery at
Rotterdam, the Netherlands.
Sylvania Electric Products
CO., has introduced a 4O-watt
fluoreScent lamp it says has
an average life of 5000 hours
VS.. $500 hours rated the aver
age for standard 40-watt fluo-
rescentS.
Evening star., 1961-12-07
Counsel Appointed
For Market Probe

Richard H. Paul, New York
attorney has been named chief
counsel for the special study OF
the securities markets, it was
announced today by Chairman
William L. Cary of the Securi-
ties and Exchange Commission
The special study was author
lied by Congress in September
and Milton H. Cohen, Chicago
attorney, has been named its
director.
Mr.. Paul is a member of the
New York Bar and the firm Of
Paul, Weiss, Rifkind, Wharton
and Garrison. He has been en-
gagged in the practice of cor
porate and tax law.
He is a graduate of Cornell
University and the Yale Uni
versity Law School. He was
editor of the Middle East edi-
ton of the Yank while serving
with the Army in World War II
Evening star., 1961-12-07
Quontico Bank Votes
q Pct. on Sovinqs

Directors of the First Ma
tional Bank of Quantico. Va,
voted yesterday to increase in
terest paid on savings ac-
counts of one year or longer
from the present 3 per cent
to 4 per cent per annum. ef-
fective January /.
President H. Ewing Wall,
who is serving this year as
president of the Virginia Bank
ers Association, said the new
rate will be at the higher CELL
ing recently fixed by the Fed
eral Reserve Board and the
Federal Deposit Insurance Corp.
Evening star., 1961-12-07
Information Firm
Has Higher Net

Information for Industry
Inc. of Washington had net
earnings of $13,246 in three
months ended September 80
compared with $l5,962 in siS
months ended June 30, it was
announced by George E. Moore
board chairman.
Mr.. Moore said the firm
showed a 20 per cent increase
in gross sales and a "a per cent
increase in net earnings from
year earlier in nine months
ended September 30.
Net amounted to $29,208, de-
spite a nonrecurring cost item
of $166,235. ompared with
earnings of $22,O82 on sales of
$134,077.
Evening star., 1961-12-07
CHICAGO
LIVESTOCK

CHICAGO. Dec. Z CAPI CUsDA -
Hogs $500; active, butchers 25 to 40
IL 190-220 ID butchers 17.0O-17.25;
higher; sows fully - higher; mixed
1880; bulk supply mixed Ii 1a0-
go lbs l6.75-l7.25; mixed Ia and
"-3 23O-25O lbs 16.25-17.OO; mixed
2-3 and 3 250-3O0 lbs l5.OO-1625;
mixed 1-3 100000 ID sows 13.75-l5. 90;
2-3 and IS 400-600 lbs 12.25-14.O
moderately active, fully steady; small
lots choice and prime 95O-1 .O5O lb
steer yearlings 25.5O-27.00; load of
choice 1,175 lbs $3.50; few sales good
300 200 lbs 2375-2525; few
standard and good vealers 19.00-25. 90.
Evening star., 1961-12-07
WuddeH Contract
Hailed by Luchs

Waddell Dynamics of San
Diego, Calf. of which Frank j
Luchs, Washington realtor and
mortgage banker, is an officer
and director. has received a
$340,000 contract to investigate
an important aspect of anti
submarine warfare.
Waddell has been assigned
the problem of underwater tar.
get classification and has de.
veloped equipment which repre-.
sents a major break-through il
this new field.
Mr.. Luchs, who is princi'
pal stockholder of the Cali.
fornia firm, said the contract
confirms his conviction thai
Waddell has an important con.
tribution to make to nationa
defense
Evening star., 1961-12-07
U. S. Exports Rise
12oo in October

The Commerce Department
was reported that on a sea-
sonally adjusted basis United
States exports in October in
creased about IL per cent over
September.
Exports on a seasonally ad-
juSted basis were valued al
$1,8l9, 100000 in October com.
pared with $1,628,9O0,OOO If
September.
, The totals do not include
military shipments valued al
S73 million in october anc
$74,5 million in September.
Evening star., 1961-12-07
Rate Also Raised
BY Fairfax Bank

The Potomac Bank & Trust
Co. of Fairfax, Va, also an
nounced directors have ap-
proved an increase in the in
terest rate on saving accounts
to the new limit of 4 per cent
effective January /.
President John r. Williams
said the bank would follow the
new regulations on maximum
payments as outlined by Fed
eral supervisory agencies.
Evening star., 1961-12-07

Suburban Trusts eXecutiv
thorized an increase from the
present 3 per cent limit to
per cent on all savings deposits
and certificates of one year OF
more and a 3l2 per cent rate
on all like accounts held for
six months to year.
The higher permissive limits
were authorized by the Federal
Reserve Board and the Fed
eral Deposit Insurance Corp.
last Friday and a number of
area banks have been quick to
announce their intention of
adopting them at the start of
the year.
Among these have been the
American National Bank of
Silver Spring, the First Ma
tional Bank of Quantico and
the Potomac Bank & Trust Co.
of Fairfax. Union Trust Co.
has announced its rate will be
raised to 3l2 per cent on all
savings deposits of six months
or more.
A few other banks probably
will raise their rates within
the limits of 4 per cent, but a
number have indicated any
early action is unlikely. Most
of the downtown Washington
banks will raise rates very little
if any in the near future, it is
believed
Evening star., 1961-12-07
Dividends Authorized
By PIB Directors

Directors of Personal Indus
trial Bankers, Inc. have de-
clared the usual quarterly divi-
dends.
They include: Three cents a
share on common stock: 35
cents a share on the $1.40 divi-
dend prior preferred stock; Is
cents a share on the 81 cumu-
lative preferred stock; SITS a
share on the 7 per cent cumu-
lative preferred.
All dividends will be paid De-
cember 29 to holders of record
December 10.
Evening star., 1961-12-07
Sears, Roebuck SoIes
Reach Record Highs

CHICAGO. Dec. s (AP). -
Sears, Roebuck and Co. re.
ported today that its sales hit
record highs for both November
and the first 10 months of the
fiscal year.
The company said November
sales increased rs per cent owe,
the previous record for the
month, set a year ago, to $429,-
82l ,235. The 10-months total
of 3,671,145,029 was up 3.2 per
cent from last years record for
the period.
Evening star., 1961-12-07
Appraisers to Greet
New Officers

Incoming officers of District
Chapter, American Institute OF
Real Estate Appraisers, will be
honored at an installation din
ner at the Presidential Arms
on Wednesday, December 13.
The new officers include Ar
thur M. Fisher, president; John
R. Perry, first vice president;
William F. Bergman, second
vice president; Henry L. Bous-
caren, treasurer; Stanton Kolb
secretary, and Frank C. Devlin
and Robert w. Kidwell, direc-
TORS
Evening star., 1961-12-07
Savings and Loan
Group to Elect

The Washington Society of
Savings and Loan Controllers
will hold its annual election at
a dinner meeting at the Black
Gun Restaurant on Wednesday,
December l3.
A social meeting is planned
after the election and wives
have been invited.
Evening star., 1961-12-07
Earnings

Distillers Corp. -Seagrams n
the quarter ended October 81
earned $12.131, 900, or $1.38 a
share, VS.. $12.166,000, or $l.39
a share, in the 1860 period.
Columbia Pictures in three
months ended September 80
earned $1,242,O00, or 80 cents a
Evening star., 1961-12-07
has been elected board chair

HAS UeeH eleCleQ DOdTQ CIldlr
an of Porter International Co.
it was announced yesterday.
Before serving in the De-
fense Department, Mr.. MCGUIRE
was president of large depart
ment stores in Boston ano
Cleveland.
Paul R. Porter is president
and chief executive officer OF
the Porter firm, which develops
investments and manufacturing
licenses, mostly overseas. II
also provides onsultin E
services for foreign business
development.
Evening star., 1961-12-07
OVER COUNTER

Following prices furnished by the Ma.
tional Association Of Securities Dealers
in Washington represent the range within
which locally active securities could
have been bought or sold at pm.
Thursday, December I:
Evening star., 1961-12-07
Suburban Trust to Pay
4 Pct. Savings Rate
Starting January !
BY DONALD b. HADLEY
Star Financial Editor

Suburban Trust Co., with around $3.50 million of deposits
IN suburban Maryland today Joined the growing list of banks
deciding to interest savings the permisSive
limits of cent and 32 cent which become effective
January l.
thoriZed increase from the
present per limit 4lFederal Savings and Loan In
Evening star., 1961-12-07
TREASURY BONDS

NEW YORK (AP)-Noon over the conn.
ter U. S. Government Treasury bonds,
bid, asked, net change and yield for
Evening star., 1961-12-07
Mcclure Chairman
Of Porter Firm

Perkins MCGUIRE, former AS
sistant Secretary of Defense in
the Eisenhower administration,
Evening star., 1961-12-07

Federal Savings and Loan In
Surance Corp.
Evening star., 1961-12-07
MUTUAL FUNDS

NEW YORK (AP)
= National Associa-
tion Securities Deal
ers, Inc.
Evening star., 1961-02-23
OFFICIAL N0IIeES

a PUBLIC HEARING having been
in the matter Of closing certain
street area and public alleys in
D. c.. aS hereinafter described.
and. as said Commissioners are
Of the opinion that the street and
alleys referred to should be closed,
NOTICE Is HEREBY OWEN that
undef. date Of February 16, 1861,
they have prepared the following
order: ORDERED: That pursuant
to the provisions Of Pub. Act 307,
appr'd Dec. Is, 1882, the street
and alley areas as shown in green
on platS filed IN the Surveyors
SSH, s5l2. s5I4, s515. s5is.
ordered CLOSED: same to take
effect on and after MARCH "a,
1851; the title to the land COM
prised in said areas so closed to
revert to the abutting property
owners as shown on said maps:
the said elosings to take effect
Jointly or separately by subsequent
order or orders on the effective
date Aforesaid. according to Items
/, 2, 4, 5, @. Z, 8 and 9, described
as follows: ~ Closing Of part Of
pun. AlIey IN 90. IUU. tM9p
$S51D. -(2l Closing Of pub. alleys
In So. 306s. MAP %S5l2). (4)
Closing Of part Of pub; alley in
Of K St. S.W., from Delaware
ave. TO . point approximately 100
IT,. east Of LIST st.: Of L st. e.W..
bet. Delaware ave. and Half st.; /;
Of 1st st. S.W., bet. Eye and M
sts.; OF Canal ct. S.W., between
X and n sts.: and Of pub alleys
in Sos. 6eS. 645 and N-S50. Map
IN 60. 101S. MAP .*S616). 20
Closing Of parts Of 9Th st. s.W..
bet. 9 and Eye SITS. (Map E9517)
90 Closing Of 9th st. NE, bet.
Galloway and Hamilton sts., and
Of pub. alley In 90. 1857. MAP
$3.50. (9l Closing Of pub. alley
in So. 3069. MAP $3.50. Any
and all parties interested must
file, in writing, with the Com
missioners, d. C., objections, II
any, to these closings. or as to
any item providing for the elosinRs
listed above. within the 30-day
period prior to MARCH "a. 1881;
otherwise said closingS shall be-
come effective on end after that
vnI..1 visiio1s Of. Of PYs Act a,o No. So7.
MCLAUGHLIN. NJ. SULLIVAN. Jr.,
z. J. CLARKE, Commissioners.
isso.21.as.24.25.27,2s-ma1.a,s,4.