davidaulloa/AmericanStories huggingface dataset:
Evening star., 1961-01-16
YOUR
MONEYS WORTH
Facts Behind Dollar Crisis

sidiaries and affiliates abroad,
as our industry emigrates to get
wage and tax advantages. This
outflow hasn't risen much,
though.
Military expenditures abroad,
$2.8 billion.
Here is the financial load
we're carrying for the free
worlds defense, and it's the
biggest single drain in this en-.
tire group.
Government grants, Sis
billion.
Government loans and cred
its, $500 million.
Our Government grants
meaning foreign aid-are run
ming slightly below previous
levels while our loans and cred
its are up.
Private remittances, $500
million.
Here you find the outflow of
dollars when a United States
family sends contributions and
gifts to relatives abroad, to aid
Israel, etc.
Unrecorded transactions. i.
S1.3 billion.
In this catch-all category can
be found some hot money"
flowing abroad to earn higher
short-term interest dollars leav-
ing our country when for
eigners sell United States secu-
rites, the outflow which fol-
lows when two foreign nations
finance their trade by borrow
ing here, transfers of funds by
American corporations to their
subsidiaries. This category
dramatizes one OF the most
spectacular "leaks" in our in
ternational accounts.
The above seven drains add
up to a total outflow Of public
and private capital Of $10.9
billion-which turns the rs
billion surplus in our CONNER
cial transactions to an annual
deficit Of $3.4 billion.
To halt the outflow Of funds,
the gap between our level OF
interest rates and those of other
lands must be narrowed, some
OF our spending must be
slashed. To raise our income,
our exports must be expanded.
] Distributed 1881 by the Hall Syn, Inc,
60. All Rishts Reserved
Evening star., 1961-01-16
~ SYLVIA PORTER

The most urgent foreign eco
.nomic problem President-elect
Kennedy will face when he
takes over this Friday will. be
the deepening crisis of our dol
lar and gold-but you're the ex-
.ception among us if you thor
oughly grasp the facts behind
this crisis.
To make the crisis clear, I've
worked out the following sum-
mary. The figures are at an
snual rate and are based on data
from the Department Of Com
merce and the Chase Manhat-
tan Bank.
We are taking in from ex-
ports Of goods and services
.$28 billion.
Our exports are near a rec
ord, are way UP from 1859, pri-
marily due to our stepped-up
sales abroad of aircraft, steel,
other metals.
We're paying for commercial
imports Of goods and services
Sos billion.
This includes not only the
imports you see on every side
but also dollars which Ameri-
cans travelling abroad spend.
This leaves a surplus on our
commercial account Of SIS
billion.
Our trade balance has i'm
proved superbly since 1859. But
this surplus disappears into q
sea Of red ink when against this
balance, you must set these
huge items:
Net outflow Of short term
private investment, So billion.
This drain has. skyrocketed,
Here is included the money
flowing out because foreigners
are taking advantage of our
much lower short-term interest
rates to borrow dollars in our
markets for use abroad. Here is
the outflow Of hot money
seeking to earn the higher rates
on top-grade, short-term secu-
rites obtainable in other great
money centers.
Net outflow Of long term pri-
vate investment, SIS billion.
This represents long-term
money going abroad as United
States corporations acquire sub.
Evening star., 1961-01-16
Seminar Scheduled

The first session of the win
ter seminar conducted by
Mackall and Coe, members Of
the New York Stock Exchange,
will be held at 1880 pm. to-
morrow in the auditorium of
Peoples Life Insurance Co., COL
New Hampshire avenue, NV.
The subject: Personal Finan-
cial Management and Invest
ment Planning" William C.
Buell., Nv, will be the lecturer.
Evening star., 1961-01-16
Accountants to Hear
Lancaster Executive

Willis w. Shenk, secretary
and controller of Lancaster
Newspapers. Inc, of Lancaster,
Pa. will address Washington
Chapter. National Association
of Accountants, at a dinner
meeting at Occidental Restau-
rant Wednesday night.
The monthly event will start
with a reception at 6 pm. and
dinner at 6:45 pm.
Evening star., 1961-01-16
Southern Wholesalers
Plans Dealer Showinq

Southern Wholesalers an
nounced its 45th anniversary
open house tomorrow and
Wednesday. 8 am. to 9 pm. at
its showrooms. TOT Edgewood
street NE.
This will be a selective dealer
showing, introducing new 1861
RCA Victor television and Kel-
vinator refrigerators, washers,
dryers and air conditioners.
Evening star., 1961-01-16
Eurninqs

3125 v street NE, announced
an open house Wednesday and
Thursday when new line addi-
tions Of television and appli-
ances will be displayed.
Mr.. Bonner said at the re-
cent National Philco Conven-
ton in Florida, his firm re-
ceived the Presidents Cup as
the leading Philco distributor
in the United States in sales
achievements in 1860. The open
house will be 10 am. to 8 pm.
on both days.
Evening star., 1961-01-16

4AAO NSAAO4o "a "ASSAAAAS w
well underway. while the Ace
Wrecking Co. has the contract
TO do the Farragut work. with
stripping the building already
begun.
l On the site of the old Lin
coin building will rise the new
a2-story Lincoln office of the
Riggs National Bank. The
Cafrits Construction Co. has
submitted the low bid for
erecting the new air-condi-
toned structure. This white
and marble and dark granite
bank and office building will
have some 10000 square feet
OF space, including basement
R1d Sub-baSement. It Is on the
northwest corner Of Seven
teenth and H streets NV.
Completion in Year
Completion is planned about
q year hence. The bank will
occupy part of the building and
will rent the rest. Riggs
Trust Department, now at 1903
, H street NV. will be relocated
in the new building.
The architects are Mills. Pet
'ticord & Mills.
Riggs Board Chairman Rob-
ert ". Fleming said the new
Lincoln office Is designed to
meet the future needs of this
rapidly expanding commercial
neighborhood." A number of
new office buildings have been
completed recently in this Sec
ton OF the city.
The new Lincoln office will
have greatly Increased customer
facilities. Installation of COM
plete electrcnic automation
equipment to handle all phases
of the banks accounting is
planned there. Heated side
walks for automatic snow re-
moval will be a feature Of the
new project.
The bank will use several
floors for its own operations.
CONSOLIDATION in 1858
The venerable red building
that housed the Lincoln Ma
.tional Bank was its main office.
The Lincoln Bank was consoli-
dated with Riggs in November
1858.
. The Lincoln office Of Riggs
has been occupying temporary
banking quarters on the first
floor of the Transportation
Building, directly across the
street from the site of the new
structure.
Where the Farragut Building
stands at 900 Seventeenth street
NV, a brand-new structure.
to be known also as the Farra-
gut Building. is planned: It win
cost 81 million, and Judith
Gerber. Inc, owners, plans to
erect the new structure. A con-
tractor has not yet been chosen.
The old building contained
100 tenants, doctors and den
fists mainly.
The new office building will
occupy a lot some 10000 square
feet in area. 1t is expected to
be ready for occupancy in the
summer of 1862.
At first the old Farragut
Building was an apartment
house. Its building permit was
issued in 1898, but it was con-
'verted from apartment use to
imedical space about 1882. An
effort is being made in court
Evening star., 1961-01-16
Security Association
To Meet in CupitoL

The National Security Indus
trial Association has scheduled
a two-day seminar on defense
procurement under revised cost
principles and procedures at the
Sheraton-Park Hotel January
24-25.
More than 500 are expected to
attend from NSIA member
companies and the Defense
Department.
Evening star., 1961-01-16

Mr.. Davidson formerly was
regional director for Diners
Club here and also worked for
American Express Co. Mr.. Mer-
,rels operates a drive-in res
taurant at 1860 East Montgom-
ery avenue. Rockville.
Evening star., 1961-01-16
Parking Group Host

The Washington Parking
Association will be host for a
two-day board meeting of the
National Parking Association
at the Mayflower Hotel Janu-
ary 1928. John w. Lyon heads
the Washington association.
Evening star., 1961-01-16

in demand for steel in the
spring may not materialize un-
less the slack is taken up by
a pickup in residential con-
struction, the magazine said.
Evening star., 1961-01-16
Speaker for Council

The Greater Washington In
dustrial Council will hear DR..
Julian H. Ray. president of
Washington Technological As
sociates, at a dinner meeting ut
Washingtonian Motel in Rock
vile, Md. Wednesday night.
Evening star., 1961-01-16
2 Venerable Buildings
Being Rozed to Permit
NeWN.W. Construction
BY WILLIAM A. MILLEN
Star staff Writer

Two Washington landmarks with historic being
torn down to make for construction The old Lincoln
National Building Seventeenth streets NV, and
the Farragut Medical Building Seventeenth and streets NV
q block away, are slated to fall to the wreckers.
The General Wreckng Co. is doing the Lincoln job
Evening star., 1961-01-16
OVER COUNTER

Eoiloying prices furnished by the
ers In Wsshington represent the ranEe
within which locally active securities
could have been bought or sold at 1
pm, Monday, January 16:
Evening star., 1961-01-16
Alexandra National
Announces Promotions

The board Of directors of the
Alexandria National Bank an
nounced these promotions af-
ter the annual meeting:
]. Hal Hendry from assistant
vice president to vice presi-
dent; Kenneth F. Everly from
assistant cashier to cashier;
Clarence A. Lawson from as
SiStant cashier to assistant vice
president; Robert w. Rotroff
to assistant vice president;
Patrick Truchio, jr.. from as
Sistant cashier to assistant vice
president and Grant L. Sa-
graves to assistant cashier.
All other incumbent officers
were reelected.
Evening star., 1961-01-16
BUSINESS
BRIEFS

Dover Corp. stockholders will
vote on February IA on a pro-
posal to take over OPW, Corp.
Of Cincinnati, makers of valves
and speciality products for in
duStry.
Amerace Corp. offered to buy
up to $1,000 common shares of
Elastic Stop Nut Corp. Of Amer
lea at $25 a share. The tender
offer came after both COM
panies announced merger nego-
tiations had been terminated.
Bankers Trust Co. reported
1t had written off SIT million
in loans last year as a result
of the situation in Cuba.
KennecOtt Copper Corp. an
nounced it had sold its ap-
proximate one-third interest
in two South American gold
mines for about $40 million.
Arthur r. Guastella has been
promoted to editor Of the The
Bond Buyer, a publication
specializing in municipal bonds.
Kroger Co. sales in 4 weeks
ended December 81 totaled
l53,063, ,236. down 1880 from
1859; for So weeks ended De-
cember 81 $1.869, ,621 1922, down
2.2% from 1859.
Jewel Tea Co. sales in 4
weeks ended December 81
totaled $40,221,524, up 11.2%
from 1859; for 50 weeks ended
December 81 $472. 1893, ,406, up
2.7% from 1859.
s. HI. Kress & Co. December
sales totaled $26,91S,590, down
1922 from 1859; for IL
months $144.568,646, down
6.49o from 1859.
Earnings
Cockshutt Farm Equipment
in year ended october 81
earned $l,299,646 or $1.l8 a
share VS.. $1.813,l64 or $l.67 in
1859.
Frontier Refining Co. in 6
months ended November 80
earned $1,113,288 or So cents a
share VS.. $597,064 or 48 cents
in 1859.
Evening star., 1961-01-16
PhiIco Distributors
Announce Open House

Frank Bonner, general man.
ager. Philco Distributors, Inc,
Evening star., 1961-01-16

Aside from the sheer splen-
dor OF the automobile, the first
sensation on driving the 1861
Lincoln Continental must be
comparable to driving a fleecy
cloud.
Shortly before the 1861 Con-
tinentaps introduction, Ford's
Ben ID. Mills said "for several
years we have been searching
for a new Interpretation of a
luxury automobile that would
meet all the practical require
ments of the fine car buyer"
Mr.. Mills likely is the first
to admit auto builders can't
rest on their laurels, but the
current Continental should an
swer his search problems for
the moment.
After a most soothing week
aboard the car, I believe it to
be the best Lincoln ever pro-
duced = in appearance, in
sound-isolation. performance,
riding quality and handling.
Ford must be confident-it
is the only domestic automobile
carrying a 24.000-mile or two
year guarantee.
AS one test. each Of the 300
horsepower engines is shot"
tested for three hours, then
torn down, visually inspected
and reassembled before install
lation in the car. Then comes
a 12-mile road run during
which nearly 200 items are
tested or examined.
Scaled down from the 1860
car. this black beauty has a
slight touch of Thunderbird
in appearance; much Thunder
bird in agility and is far more
silent than the sounds of ad-
miration it evokes.
= ~
This is a reminder that mo-
toristS will be able to park at
their regular garage or lots on
Friday, Inauguration Day.
John w Lyon, president of
the Washington Parking As
sOciatiOn, has completed ar
rangements with Police Chief
Robert v. Murray whereby mo-
torists may enter parking facii-
ties near the parade route.
Police will be instructed to
pass cars displaying a card
reading Special Parking Per-
nit. Inauguration Day." Re-
verse side of the cards, to be
distributed by the Parking As
sociation. will tell drivers to
turn on their headlights at
least four blocks before their
destination as a signal to police
that the driver wants to park"
All this doesn't mean the
parking will be free, Of course.
1t is almost a sure thing that
District car owners will pay so
Evening star., 1961-01-16
BONDS

NEW YORK (AP) Noon over the c0un-
ter U. S. Government Treasury bonds,
bid. asked, net change and yield for Mon
Evening star., 1961-01-16

by the last tenants to halt
demolition. but the owners
anticipate no substantial delay
in their plans.
The Farmville herald. (Farmville, Va.) 1957-current, 1961-05-16
Hospital Nelus

There were 62 hospital patients
Monday morning.
Patients Admitted
Miss Betty Jones. Farmville;
Miss Hannie Lewis, Pamplin; w.
L. Green, Farmville; Mrs. w. j.
Garland. Farmville; Mrs. j. w.
Totty, Crewe; Gene Anderson,
Victoria; Miss Sheila Anderson.
Victoria: E. A. Bessell, Cumber-
land; P. w. Whorley, Bucking-
ham; W. D. Brandon, Charlotte
c. H.; Jon Oliver, Farmville.
Also, William Queen, Chase
City; Mrs. Clarence Shook, Keys
vile; Miss Myron Hatfield,
Farmville; Mrs. Charles Bald
win, Farmville; Floyd Shumaker.
III, Farmville; Miss Betty John
son. Keysville; Mrs. Irene G.
Hardy, Farmville; Miss Judith
Dixon, Cullen; Mrs. H. R. Bollin-
ger, Farmville; Miss Katherine
Critcher. Farmville, and Mrs.
Janet Crittenden, Crewe.
Births
Mr.. and Mrs. Winston John
ston, Farmville, girl, May II.
Mr.. and Mrs. E. A. Talbert,
DlllWyn, boy, May IA.
COlOred Patients
Frank Carey, Am e ia. and
Ethel Adams, Crewe.
COlored Birth
Percy and Pearline NunnalIy,
Rice, girl, May II.
Discharges
May II = T. w. Bugg, Mrs.
H. T. Inge, Mrs. B. H. Matthews,
John c. Hedrick, Mrs. Maude
Gillispie. and Mrs. Maude ellis.
May u Estelle King. Mrs.
w. M. Burner, Mrs. Edmond Bes-
sell, Flossie Walker, Mrs. w. F..
Shell. Mrs. J. w. Totty, Charlie
Oliver. Carlton Anderson, and
Shelia Anderson.
May l3 = Ethel Adams, Miss
Carolyn WiSeman, Miss Judy
Dixon, George Morton, Mrs. C.
E. Baldwin, Mrs. Percy Nun
nally, Mrs w. M. Shrum, Mrs.
c. c. Castle. Jon Oliver, D. A.
HillSman, Mrs. Amelia Taylor.
and William Queen.
May IA C. J. Cox, John
BeaSley, and Nellie DAMS.
The Farmville herald. (Farmville, Va.) 1957-current, 1961-05-16
Byrd Address
Continued from page |

Continued from page u
after action by the NAACP re-
suited in withdrawal of Prince
Edward support of public
schools"
He briefly traced the offer of
Southside Schools, Inc, to help
set up Negro educational facili-
ties similar to those set up by
the Prince Edward School Foun-
datiOn for white children. Sena-
tor Byrd said, Il will not go in
to details, for you know the story
as well as l do that Oliver Hill
rushed to the county to tell the
Negro parents not to take any
kind Of segregated school Of
fer"
The principal bi centennial
speaker said, prince Edward
has done what our forefathers
would have done-stand for the
right to educate their children
with their own money in the man.
ner they choose to do it,
Building Program
Recalling the days when he
was governor of the Common
wealth. Senator Byrd said that
at that time the state started to
build magnificent buildings to
meet the decision of Chief JUS
The Farmville herald. (Farmville, Va.) 1957-current, 1961-05-16

/ To Thee,
Here we pledge our love and
loyalty;
With grateful hearts we priase
And loud our voices raise
To tell the glories Of the land
we love.
The land where neighbors share
their laughter and their care,
The land that's truly blessed by
Heav'n above.
The young dancers, Whirling
gracefully in the Buckingham
Polka also scored unsteady. The
young d ANGER performance
matched the score used a
polka composed in 1852 by Ar
maud Treot, music instructor.
Buckingham Female Collegiate
Institute!
Then triumphantly just as
they hoped . the distinguished
senior United States Senator for
Virginia, the honorable Harry
Flood Byrd, provided the piece
de resistance.
Right before them was one of
the marvels of Virginia. almost
a native son and a figure known
all over the world, speaking.
Alert. ruddy checked. a piercing
glance and erect. Senator Byrd
recalled another great Virginian
whom he called, my IDOL" Rob
ert E. Lee.
Past 70 and yet in the height
of his mental powers. here was
a leader who had become a state
legislator at Is, a Virginia COVER
nor at SO, and now in his 18th
year in the U. S. Senate proud
that his own people had returned
him to the post more times than
was ever the lot of a Virginian
before.
Nimble of mind and manner,
he Illustrated both states. by de-
manding his reward of kiss
after GROWING Miss Buckingham,
and then. recalling the magnifi-
cent carriage he rode in during
the parade, he announced to all
1T was my first ride in a Rolls
Royce, and 1 had to come to
Buckingham county to get it !"
The Farmville herald. (Farmville, Va.) 1957-current, 1961-05-16
Bicentennial
Continued from page

tCOntlnued from page ~
panied by the Buckingham Cen
trail High School band, followed
with a rousing rendition of Hap
py Birthday Buckingham"
Miss Buckingham, Miss Caro-
lyn Dawson, and Little Miss
Buckingham, Ina Marie Chill.
dress. then became the center
OF attraction. senator Byrd
placed the crown on Miss Buck.
ingham and managed his usual
KISS from a queen. Congressman
Abbitt placed the crown on Lit
tie Miss Buckingham, and not
to be outdone by the senator, he
too managed to kiss the queen.
Trophies, with a few audience
ticklers thrown in, in comment,
were presented the queens by
J. H. Spessard of the Bucking-
IldIIA county Bank.
Awards Presented
More awards came next on
the program agenda. Sprouse's
Motel was presented the first
place ribbon in the commercial
float entries in the parade. The
Town of Dillwyn get the prize
for its noncommercial float, the
MaySville district, with its reph-
ca of the courthouse, took first
in the magisterial district COM
petition.
Guests from far and wide were
recognized. On hand for the
The Farmville herald. (Farmville, Va.) 1957-current, 1961-05-16
NAACP Reply
Continued from page l

tCOntlnueu from page IL
represents the carrying out of
that policy to its ultimate extent.
Only Prince Edward in the en-
tire United States elected this
course. All other Virginia cities
recognized the folly of it in 1859
and abandoned it in favor Of a
local option policy"
Banks accused Senator Byrd
of being "unrealistic and oft of
step with the times" He sa'f
Il would say that the serioP
senator from Virginia needs Ia
realize that it is later than he
thinks-in Prince Edward Ccun-
ty. in the Commonwealth o. Viz
ginia, in the entire South, in the
United States of America and.
indeed in the rest of the free
world. Period. End of Quote
End of Comment.
The Farmville herald. (Farmville, Va.) 1957-current, 1961-05-16

vent were State Senators
Charles Moses, ]. B. Hagood and
Eward McCue and Delegates E.
E. Compton. John Daniel. and
Matt Anderson. Also, recognized
were ]. B. BoatWright, veteran
member Of the General Assem-
bly,, now retired: Jack Bruce,
DR.. Frank Johns, Judge Joel
Flood, Judge William Old and
others.
Also on hand were officials
from Henrico, Goochland, AL
bemarle. Amherst, Fluvanna
Charlotte, Campbell, Prince Ed
ward. Appomattox, Nelson, Cum
berland and Powhatan counties.
Back to 1852
Before the talk by Senator
Byrd. the audience was again
taken back into days of long
ago. The buckingham Polka
was danced by high school bows
and girls. The music for the
dance tune was composed in 1852
by Arnaud Treot, music instruc-
tor OF the old Buckingham
Female Collegiate Institute.
Lunch was served to some
2.OOO persons by home demon
stration club members following
Senator Byrd's talk. An hour and
a half was reserved for viewing
exhibits set up in the school and
in midway fashion near the for
NAL program area.
A baseball game in the after
noon which saw Buckingham
bow to arch-rival Cumberland
by score of three to two. and
coronation ball in the evening
climaxed the event. Some 400
persons attended the dance in
the high school gymnasium.
The most frequently heard re-
mark from youngsters as well
as older persons was why do we
have to wait a hundred years to
do this again. Senator Byrd was
one who sounded such a note
He started to say he hoped he
could be with them for the next
celebration. but on con d
thought suggested that such a
celebration should be held every
year.
However, the planners of the
program, w. c. Sprouse as gen.
eral chairman, and Charming H
Moon. program chairman we're
not overheard saying they would
like to try it again for the coun-
tvs 20lst birthday.
The Farmville herald. (Farmville, Va.) 1957-current, 1961-05-16

Miss Nancy Lee Webster, of
Westhampton College, spent the
week end with her mother. Mrs.
4. G. Webster, and attended the
wedding of her cousin, Miss De-
lores Ann Dunkley, to James Al
bert Bailey Friday afternoon.
Miss Webster also attended the
Prince Edward Academy Junior
Senior prom Saturday evening.
Mrs. Harold Riley. Jr.. of
Lynchburg, spent the week end
with her parents. Mr.. and Mrs. R.
W. Noel.
S. c. Glass. Jr., and son. Dean,
of Washington, d. c., spent
Mothers Day with his parents,
Mr.. and Mrs. s. c. Glass.
Mr.. and Mrs. Dennis Critzer,
Of Petersburg, were week end
guests of her parents, Mr.. and
Mrs. Lacy ScruggS.
Mrs. Elto Schroeder had as her
guests during the week end her
children. Mr.. and Mrs. w. H.
Womack and daughters, Debbie
and Rosemary, of Charlotte Court
House, Mr. and Mrs. G. H. Wom-
ack and son, Henry, Mr.. and Mrs.
Jack WOmack and sons, Jack
and James, Mrs. Tulane Throck-
morton, of Chatham, and Mr.. and
Mrs. Dan Young and children,
Michael and Nancy, of Fincastle.
Mr.. and Mrs. Walden N. Smith
and daughter. Miss Judy Smith,
of Suffolk, and Mr.. and Mrs.
Richard johnson and daughters,
Mildred Smith and Sandra, of
Vinton, were week end guests of
their parents, Mr.. and Mrs. L. A.
Smith.
James fowler, of Elkins, w.
Va. returned home Saturday
after visiting his brother-in-law
and sister, Mr.. and Mrs. Thomas
Snead. and his sister, Miss Jose
phine fowler, and his brothers,
Eugene and Walter fowler.
DR.. and Mrs. David Noel and
children, of Oxford, N. c.. were
Sunday guests of his parents, Mr..
and Mrs. r. w. Noel.