davidaulloa/AmericanStories huggingface dataset:
Evening star., 1961-06-22
Bryan TO Aid
Savings-Loan
World Farley

Bruce Bryan. executive Sec
retary of the District Savings
and Loan League, has beer
elected congress secretary fol
the Ninth Congress of the In
ternational Union of Building
Societies and Savings Associa-
tionS.
This was announced today by
Edward c. Baltz, president OF
Perpetual Building Association
who is a vice president of the
international union.
The Ninth Congress of the
Union will be held in Washing
ton october l-6, 1862. Mr.. Bry-
ans selection took place at a
meeting of the unions execu-
tive committee in London,
England.
Organized in 1914, the union
held its first congress in Lon
don that year and met in San
Francisco and Philadelphia in
1915 and 1881, respectively. The
most recent meetings were in
Stuttgart, Germany in 1857 and
Johannesburg, South Africa in
1859. Other Congresses were
held in 1888 Gondon); 1885
(Salzburg and Vienna); 1885
Zurich and Lucerne).
President of the union is Cor
don Collins, South Africa. Dep
uty President is Hubert New
ton, Great Britain. Honorary
vice presidents are DR.. Theodor
HeuSs, Germany; and Herbert
Hoover, United States. Secre-
tary-General is c. G. Garratt-
Holden. Great Britain.
Purpose of the International
Union is to bring together saw
ings and home financing peo-
pie from all over the world to
discuss practices and policies in
the more than 20 nations rep
resented in the organization.
Mr.. Bryan has been executive
secretary of the D. C. Savings
and Loan League since April /,
1857.
Evening star., 1961-06-22
YOUR
MONEYS WORTH
How Big Is the u. S. Debt?
sY SYLVIA PORTER

The national uebt today
totals more than $500 billion,
an all-time peak. How big is
this debt? Is it a burden, as is
generally claimed, or is it a
boon in disguise?
Congress has been going
through the annual ritual OF
voting a temporary increase in
the legal ceiling on the debt
this time to 1898 billion-so
that the Treasury can raise
the money essential to pay the
Governments bills. And as
usual. many Congressman and
commentators are Seizing the
occasion to say how dangerous
this debt is and how dreadful
load it is.
Questions Answered
The independent Commits
sion on Money and Credit has
Just released the results of its
exhaustive, three-year probe
into our financial structure in
which is included a fun-scale
analysis of the national debt
Here are the CMC's answers tc
the familiar questions,
@. Why do we have so huge
a national debt?
A. Overwhelmingly because
of past wars. More than nine
tenths of today'S debt was
created during World Wars
and II and Korea. Most of the
remainder was created during
the depression 1930s.
@. How much has the ma
tional debt grown in recent
years?
| A. 1t hasn't. AS a share OF
the total debt outstanding ir
the United States, it has beer
contracting since World Wal
II. True, the debt is at an all
time peak but the, rise relative
to all other debt in the postwar
years has been extremely slow
More specifically, the Fedora,
debt now accounts for less
than one-third of all public
and private debt in this coun.
try compared with early
three-fifths in 1916. At the enc
of 1859, the Federal debt ap-
proximated 29 per cent of tota,
debt outstanding against Sc
per cent of the total in 1916.
@. Where have the big in
creaSeS been?
A. In private debt, which has
risen three and one-half times
since 1946 and in State and
local debt which has risen more
than threefold.
@. How much of a burden is
the national debt?
A. One way to measure this
is in terms of the taxes we pay
to cover the interest required
m the debit
Evening star., 1961-06-22
Record City Plans
New Downtown Unit

The Record City chain will
open it's second downtown store
at 709 Thirteenth street NV
within a few days. The firms
original location opened at COL
Fifteenth street NV. in Sep
tember, 1859.
Banner Glass, subur b a n
Maryland auto glass firm, has
opened it's second location at
4610 Decatur street in Hyatts-
vile, Md, with Charles G.
Reeder as manager. The firms
other location is at 1890 Ripley
street in Silver Spring.
Roberts Carry-Out, will open
it's first location at 4301 Back
lick road, Annandale, Va, on
Saturday. 1t is the first of six
units to be opened in the next
year by Roberts Systems, Inc,
a subsidiary of Karlo Corp. OF
Annandale.
Evening star., 1961-06-22
Central
Lawyers Trade
CHARGES all ICC
BY the Associated Press

A Chesapeake & Ohio Rail-
road attorney charged today
that the New York Central
Railroads. engaging in "a plain
case of delaying tactics" in
connection with rival bids of
the CSSO and New York Gen.
trail for control of the Balti-
more & Ohio system.
The lawyer, Edwin K. Wheel
er. told an Interstate Com
merce Commission examiner
that the purpose is to give Gen.
trail more time to push its
hopes for a three-way COM
bine of the three big lines.
He called the situation "a
shell game"
Robert D. Brooks, counsel
for Central, denied engaging in
any such game or delaying
tactics.
But, for the first time, Mr..
Brooks said Central does not
believe B8SO is in the pre-
carious" financial condition
claimed for it-a condition fire.
quently cited as a reason for
pushing action on the pro-
posed consolidation
The Prosperous C&O
Mr.. Brooks noted that BIO
recently declared a dividend
and observed that the prosper
Gus C&O has this year invested
some $29 million in open mar
ket purchases of BRO stock.
The dispute arose over a
survey presented at the ICC
hearing by William Wyer, New
York transportation consultant,
to show that C&O-B&O could
save $66 million in the next
five years through co-ordi-
mated operations.
Mr.. Brooks called some of
the Wyer exhibits nonsense"
and said he would need about
two months time to analyze
them before undertaking a
cross-examination. tt..
Mr.. Wheeler noted that in
line with ICC rules, Central
had been given the exhibits 20
days before Wyer took the
stand. He argued that Central
was amply equipped with tech
nical experts and questioned
that they had been unable to
make the analysis during the
last 20 days.
Play Into Centrars Hands
This is a plain case of de-
laying tactics" Mr.. Wheeler
said, asserting that such a de-
lay in the hearing process
would play into the hands of
Central, whose avowed purpose
is to block this (C&OD appli-
cation"
I'VE don't believe B65O is in
the dire straits which have
been represented here"
Examiner John L. Bradford
directed Mr.. Brooks to consult
with Mr.. Wyer and report on
what time might be needed to
prepare for cross-examination.
He indicated ne might go along
with a delay until late August.
Evening star., 1961-06-22

by the Controller of the Cur
rency, but announcement of
the date for special stock
holders meetings in Baltimore
indicated last night the merger
may have been given at least
a tentative green light.
Under the merger plan,
stockholders would receive four
shares of the merged institu-
tion for each five shares now
held. Shares of Baltimore Ma
Iional would become shares of
the merged institution on a
share-for- share basis.
Assets at $536 Million
The merged institution, with
around $536 million of assets,
would be in direct competition
with some Washington area
banks. County Trust offices
which would become part of
she merged bank are at Upper
Marlboro, Annapolis. Glen
Burrie, Indian Head, La Plata,
Leonardtown, Mechanicsville,
Owings, Prince Frederick,
Riviera Beach, Solomons.
Other branches are on the
Eastern Shore at Cambridge,
Ches e r town, fredericksburg.
Hurlock. Pocomoke City, Sails
bury, Sharpstown. Snow Hill.
st. Michael's, Tilghman and
Vienna.
Most of the increased COM
petition probably would be felt
by the $204 million Suburban
Trust Co., which has ranked as
the unchallenged suburban
Maryland giant for a number
of years. 1t has a branch at
Upper Marlboro. The First Ma
tional Bank of Southern Mary
land at Upper Marlboro also
you'd be a direct competitor of
the merged institution. Other
suburban Washington banks
are not far away.
However, Hooper S. Miles,
board chairman and chief ex-
ecutive officer of the Baltimore
National, who will continue at
the helm of the consolidated
institution. emphasized tn e
only direct competition with
Washington area banks would
take place at Upper Marlboro.
Offices in Southern Mary
land are the real prize sought
in the merger, he declared.
Approved by Directors
Directors of both the Balti-
more National and County
Trust Co. announced their ap-
Evening star., 1961-06-22

The ratio of interest pay
ments on the debt to our total
production Of goods and serv-
ices Gross National Product)
is now down to 1.6 per cent
against % per cent in 1916,
q per cent in 1899. Paying the
interest docs not pose a seri-
GUS problem in a CROWN g
economy"
Another way to measure the
burden is in terms of the degree
to which the interest payments
"redistribute income" against
our desires.
Debt interest payments, the
commission concludes, have
had mo significant effect on
the distribution of income by
income groups"
A third way to measure the
burden is in terms of the ex-
tent to which it reduces our
capacity to reach our national
goals of minimum unemploy-
ment and reasonable price
stability.
Judgment Offered
The CMC's judgment is that
it doesn't reduce our capacity
and on the contrary, our
widely held debt acts "as a net
work to spread the effects" of
policy actions to achieve our
goals and as such may be a
boom" not a burden on us and
future generations.
@. Should the ceiling on the
debt be continued?
] A. No! It is a source of in
fleXibility and inefficiency in
the management of public fl
nances." The argument that it
induces fiscal responsibility
and acts as a curb on public
expenditures :. is historically
unture." The debt ceiling, says
the CMC flatly, should be
abolished.
None of these facts is new,
no part of this appraisal is
radical or the least bit shock
ing to those informed on the
subject. Maybe, considering the
independence and responsibility
of the Money Commission,
Congress will one of these years
heed the facts too.
distributed, 1851, by the Hall
Syndicate, Inc. All Rights Reserved.)
Evening star., 1961-06-22
Grain Exchange
To Close July 3

CHICAGO. June % (AP).-
Directors of the Chicago Board
of Trade have decided to close
the grain exchange on Monday,
July 8, as an additional holiday
with July 4.
The New York Stock Ex-
change, however, has an
nounced it will be open July 8.
Evening star., 1961-06-22
NBW Board Declares
Quarterly Dividend

Directors of National BanE
of Washington have declared
the usual quarterly dividend O1
37l2 cents share. President
Barnum L. Cotton announced.
The dividend will be paid
July 3 to stockholders of rec
ord June 81.
Directors of Security Storage
Co. declared the usual quarter
of 40 cents, payable July 10
to holders of record July 5.
Evening star., 1961-06-22

Business Loans at reporting
member banks in leading cities
increased by 1858 million dur
ing the week ended June II.
This raised the total of such
loans to $31,519,0 100000. which
was $2ll million lower than the
total a year earlier.--Federal
Reserve Board.
Gasoline Production in the
week ended June 16 rose to
30,7l4.000 barrels VS.. 90, ,586, 900
the week before and 29,482, 900
a year ago. Stocks dropped to
207. $4,000 barrels from 2O8.-
$4,000 the week before.
Petroleum InSti-
tute.
Evening star., 1961-06-22
$700, 900 Loan Made
On SuitIond Units

A 100000 mortgage loan on
the Americana Swami Apart
ments at Suitland, Md, has
been placed with the United
Life Insurance Co. of Chicago
it was announced by James ",
Rouse & Co., Inc, mortgage
banking firm.
The 108-unit, air-conditioned
apartment project was built
and is owned by David and
Milton Isen. Architects were
Collins-Kronstadt & Associates
Evening star., 1961-06-22
GowIer's Property
Handled by Carr

Oliver T. Carr, jr., of Oliver
T. Carr Realtors, handled the
recent sale of the Joseph Cav
ler's Sons property in the 100
block of Pennsylvania avenue
NV, and purchase of a site
for a new funeral home at Wis
consin avenue and Harrison
street NV.
The transfers involved prop
erty with total valuation of
more than So million,
Evening star., 1961-06-22
Woodbridge Center
Gets $780, 600 Loan

Walker and Dunlop. Inc,
mortgage bankers and realtors,
has arranged a $500.000 loan
for the financing and leasing
of the new Woodbridge Shop
ping Center in Woodbridge, Va.
Tenants will include Safeway
Stores. a Virginia Liquor Store,
the Bank of Occoquan and a
group of service shops.
Arrangements for the loan
we're made by Grover P. Man.
derfield for Woodbridge Realty
Co., Inc. Mr.. Manderfield is a
director of the Bank of
OccOouan,
Evening star., 1961-06-22
MoVeP|anned
BYA|Iegheny

Washington biased Allegheny
Airlines will move a part oi
its maintenance facilities from
National Airport to Pittsburgh
in about 18 months, President
Leslie o. Barnes said today.
Growing at the rate of about
IS per cent annually, the air.
line needs space which National
cannot offer, Mr.. Barnes said
The change, which will split
Allegheny's maintenance oper-
Evening star., 1961-06-22
CHICAGO Hotels Sold

NEW YORK, June % (AP)
Purchase of a majority in
terest in the Ambassador East
and. Ambassador West Hotels
in Chicago was announced yes
terday by Transcontinental In
VeSting Corp. More than 81
million was involved. Trans
continental said.
Evening star., 1961-06-22
Corporations Poy
More in Dividends
BY the Associated Press

Publicly owned corporations
paid cash dividends of 1870
million in May-$15 million
more than in the same month
last year.
The Commerce Department
said today the increase CEN
tered in electric and gas utili-
ties and financial corporations
Dividends in the first five
months of 1861 totaled SAT
billion, about 2 per cent more
than a year earlier.
Evening star., 1961-06-22
Insurance Managers
Headed by SouIe

Chester I. Soule, jr.. Wash
ington branch manager for the
General Accident Group of In
surance companies, has been
elected president of the District
Insurance Managers Associa-
ton.
Robert L. Waters of Ohio
Farmers Insurance is vice presi-
dent and Howard M. Startling OF
the Association of Casualty &,
Surety Companies is secretary
! treasurer.
Evening star., 1961-06-22

surance Co.. Fidelity Invest
ment, Consolidated Title, Bar
Der and Ross and the Better
Business Bureau.
He is finance vice president
and a board member of the
Federal City Council, executive
vice president of Fireman'S In
surance, a member of the exec
utive committee of Greater Ma
tional Capital Committee and
chairman of the Motor Vehicle
Parking Agency.
Evening star., 1961-06-22
Sturt Heads State
Finance Group

Morton Sturt, president OF
Major Finance Corp. of Silver
Spring. Md, was elected presi-
dent of the Maryland Consumer
Finance Association at the an
nual convention in Ocean City,
Md. today.
Henry H. Himler of West
minister was named vice presi-
dent and Robert r. Gasaway of
Silver Spring was elected secre-
tary. Chester w. Tawney of
Baltimore is treasurer.
Evening star., 1961-06-22
METALS

NEW YORK. June 90 (AP).-Spot
nonferrous metal prices today: Copper
Lead II cents pound. New York.
Zinc l1Ia cents a pound. East st.
Louis. Tin LIN pound. New York.
Pittsburgh scrap steel No.. l heavy
ounce. New York. Nominal.
was quoted by iron age at 36.00-37 90.
Evening star., 1961-06-22
Earnings

Kimberly Clark Corp. in the
year ended April 80 earned
$50, $40, or 1894 a year, VS.
$31, ,342,614, or $3.44 a share,
in the 1860 period.
Spencer Kellogg & Sons, Inc,
in the 9 months to May 81
earned $810,773, or 65 cents a
share, VS.. $685,613. or SIS cents
a share, in the 1860 period,
Sales in the 1851 period were
$95, ,955,751 VS.. $86.299,512 in
the 1860 period.
Other earnings.
Evening star., 1961-06-22
County Trust Merger
Vote Set for July 4,
Competition Faced
THE EVENING STAR
Thursday, June n, 1861
BY DONALD B. HADLEY
Star Financial Editor

Sensitive to any new competition number of nearby
Maryland banks cycling plans merger the Baltimore
National Bank and the County Trust upon which stock
holders will vote July IA.
The proposed consolidated institution which would be
named the Maryland National Bank, still approved
Evening star., 1961-06-22
OVER COUNTER

Following prices furnished BY the
National Association Of Securities Deal.
ers in Washington Represent the rar.ge
within which locally active securities
could have been bought or sold at
1 pm. Thursday, June %.
Evening star., 1961-06-22
TREASURY BONDS

NEW YORK (AP) Noon over the coun.
ter U. s.. Government Treasury bonds,
bid, asked, net change and yield for
Evening star., 1961-01-26

T4s.s I.sl.. .@g sEP' eoil.. ne ts.' 'Psi Psi, iHe
maple chest Of drawers. SsS;
chair. si%5. Easy terms HSo1 HoFF.
MANNs. :424 18th st, nv CO.
5-5116. Open ewes. til Q, eat
I'll q, SUNDAY, 10 to f.
Evening star., 1961-01-26
MISCELLANEOUS FOR RENT

CHAIN SAWS. pumps. generators.
500 cutters. rollers. etc. RENTAL
TOOL d. EQUIP CO.. JU. 5-6O40.
Evening star., 1961-01-26
BUSINESS SERVICES

AcC0UNTNG-TAx SERVICE in
yeur home. my office. incl, ewes.
Vkends. Home owners. bus, other
returns . specially. FE. S-101o.
Evening star., 1961-01-26

Private lessons given by exper. In
;s:Sssof. .Ss rs IoRl TR bsm. us: q su,Ds tnstrG
week trial course. suecsssfui re-
suits guaranteed. All age groups
eligible. No musical BACKGROUND
Necessary. Phone for information.
RUDY LEWIS MUSIC STUDIOS.
a1S = ct. NV. ST. $1,000, 10 am.
IA o nm
Evening star., 1961-01-26
APIS. FURAIsHED-MD.
(cONTiNuEDl

sIL. sPG.-Liv. rm. h.r., kit, bath;
pYt. entr.: must see to appIe-
eiats; s1O0. JU. B.2sl7.
TAKOMA PARK, 1909 Garland ave.
nicely furnished 8 bedrm. apt.
RA. 3.09s6.
TAKOMA PARK, Md bedfm.
liv. rm., din. rm., kit, semipvt.
bath: $50 mo. On bus route. 1920
Carroll ave.
Evening star., 1961-01-26
ROOMS, HOUSEKEEPING
ROOMS. APIS. 70 SNARE

MOTHER and child to live In my
men, m"tS:r w Vorks sarf Hr i0f i.eIHs sn1's while
N.W.--I girl age 1924 to share
attrac. 9-bedrm. apt. with 3 other
girls; conv. transp. NO. 7-hl4S.
WIDOW, white, will share ne,
apartment with other refined
working lady. Ii. T-3a1O.
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1961-07-20
Church Economics
Stocks Tied to Social Aims
PanIIl

ties that promote the social co..
Germs of the church. ''
mo one in the group co,,,d
say that his agency has a nolio'.
of searching out investna,,tsy
that promoted the social studies
of the church." the study renore
said. THE group felt that tha
paramount considerations in an'.
investment were security, rate
of return and diversification
But it was felt that the HI,
lions of dollars invested h.,
church groups either should ~
in securities reflecting social
concern, such as integratad.
housing, or stocks offerina
churches a chance to maLs
their voices heard.
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1961-07-20

Economic Practices of the
Churches"
The session was sponsored by
the Department of the Church
and Economic Life of the Ma
tional Council of Churches, and
the Council issued a compre-
hensive report on the findings.
THE investment programs of
the boards and agencies of the
churches of this country add UP
to a large business activity" the
report found. 1.-THE finance and
investment committee of these
church bodies and units handle
funds totaling many billions of
dollars"
Church financial committees
were called upon to seek securi-
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1961-07-20

landowners in efforts to get
right-of-way for service lines.
They heard a suggestion from
Harold A. Knapp, jr., on behalf
of a group of Germantown citi-
zens, that the Maryland-N Nation
al Capital Park and Planning
Commission be empowered to
review proposed utility lines in
the county and that the Com
mission let private property
owners know their srights in
condemnation proceedings.
Knapp charged that utility
firms from outside Maryland
were falsely telling landowners
their line development had the
approval of the Federal Power
Commission.
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1961-07-20

dren at a time. There are 10
cabins, each with 10 individual
beds and a. separate room for
a counselor and assistant coun-
selor. Each two cabins are con-
nected by an enclosed bath.
This summer marks the
seventh year needy children
have been sent to the camp for
three two-week periods. A total
of 240 youngsters will enjoy a
vacation their parents could
not afford to give them.
The camp is financed by a
group of county residents who
have formed a corporation on
a non-profit basis. The group
raises funds by public contribu-
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1961-07-20

tons. Although this years goal
of $4,000 has Jagged, the camp
Is in full swing with no activi-
ties curtailed, according to
Thomas L. Coleman, president.
Officers and trustees will be
on hand Sunday to escort visi.
tors throughout the entire
camp.
To reach Camp Echo Lake,
drive out Rt. 240 to Rt. 40 to
Myersville, about IL miles west
of Frederick, then take Monu-
ment I'd. at Myersville to the
camp.
Contributions may be sent to
Camp Echo Lake, P. o. Box
5825, Bethesda.
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1961-07-20
Visitation Day Set at Camp

An open house for all
friends of Camp Echo Lake,
Montgomery County's sum-
mer recreation camp for
needy youngsters, will be
held at / pm. Sunday on the
l27-acre tract on South Noun.
tain, Md.
Families are invited to bring
their children and swim in the
pool or in the five-acre lake.
Refreshments will be served.
This will be an opportunity
for all camp supporters to see
the project in operation with
its many facilities. The mod
ern kitchen and dining room
are capable of feeding 100 chill
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1961-07-20
Tax Approved .
CONTINUED from Pa a

CONTINUED from Page II
considerable opposition from
real estate interests in the coun-
ty, who charge it would put the
county in an unfavorable posi-
ton for future property sales
and business development, since
Prince Georges County has only
a small tax and the District of
Columbia has none.
In other actions, the Council
heard reports that utility COM
panies are "deceiving" area
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1961-07-20
By Claire Cox
United Press International

By Claire Cox
United Press International
NEW YORK (UPD-The So
cial consciousness of the church
today extends to the heart of
Wall st.
A minister's mission may lie
In a noisy stockholders meet
ing as well as in his pulpit.
These were some of the con-
illusions drawn at the first Off
cial discussion ever held by
officials of UNCONVENTIONAL
boards and agencies on 1.-THE
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1961-07-20
Good Kicker

LONDON OUPD-James Sui
hvan, of Wales, one of the rug
by greats, kicked 1855 goals
during a career that began in
1921 and ended in 1916.
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1961-07-20

Editors Note: This is the
third of three dispatches on the
economic practices Of the
churches.)
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1961-07-20

SENTlNE4A S eoSESS. HD'
Saturday. EJuIy IS. JsSI Is
Evening star., 1961-02-25

Yesterday, my folks were talking to man who did
his best to sell them new house OPTIONAL whatever
that seemed to apply to just about everything.
After we came home, Daddy said these OptionGls
made the house cost much much more than the adver
tsed price-more in fact than he felt he should pay!
'Now the folks say they're going to do some look
Evening star., 1961-02-25

ing in Beair Gee, hope there are some nice girls
there-my own age Of course!"
There's good chance you'll find the girl of your Dreams
young fellow And there's better chance your folks viii find
the house ofter dreams in beautiful Ber One thing
they won't find 0ptiOnGs hidden costs in the price of any
BeIar home You can tell them with complete confidence that
Minneapolis spokesman. [volume] (Minneapolis, Minn.) 1934-2000, 1961-12-01

Team High Single Game: NV.
Airlines, 942; Frank. and Carter
Furniture, S72 and Northside
Cleaners, 1854.
Team High Series: NV. Air
lines, Pip; Northside Cleaners,
2581 and Frank and Carriers Furn-
iture, 1926.
Individual High Single Game:
Dick Williams, 208; Tom Donnley,
Ebert Clark and B. Bearman, FOG
and Art Moore, 204.
Individual High Series: Tom
Donnelly, 579; Art Moore, 567 and
Dick Williams, 500.