davidaulloa/AmericanStories huggingface dataset:
Evening star., 1961-11-09

where many expenses are high
er, it would total S1,771.
Hertz broke down the Chi
cago expenses this way: In
surance, $186 a year; license
and registration, SAT; gas, oil,
tires and maintenance, $3.50;
estimated garage costs, $500 a
year; depreciation, S648.
The New York driver faces
these expenses: $340 a year
for insurance, $23 for license
and registration; garaging,
$480. (The depreciation and
cost of gas, ETC., were identical
with ChicagoJ
To be sure, the garaging item
is high for a suburbanite, park
ing at home every night, but
the study was limited to in
town residents.
The Hertz people claim that,
based on these costs, a man
would be far ahead by renting
his auto. They assume. 1000
miles equals 300 hours of
driving. Since their cars rent
in Chicago for an average 81 so
an hour, plus 10 cents a mile,
a Chicago driver renting a car
300 hours a year would pay
$1,150 or $311 less than if he
operated his own.
In New York, the same driver
would pay 1920 or S551 less
than the cost of driving his
own vehicle.
Washington Case
Here in Washington, it's
doubtful that the joys of own
ership cost as much as they
do in Manhattan. Insurance
rates for a man over rs. for
example, according to the Ma
tlonal Bureau of Casualty
Underwriters, would figure out
to $162 for standard coverage
by a stock company, and less
for drivers with good safety
records.
The idea would also be
linked to how well a city's
public transit system functions
Los Angeles, for example. ver-
suS Washington.
The study of expenses might
oackfire on Hertz. A driver
could conclude, for instance.
that he ought to increase his
driving to 10000 miles a year
since many of his costs are
liked, instead of trading in his
car. But Hertz seems willing to
take that chance.
Evening star., 1961-11-09

At midnight tonight, the
Treasury winds up its debt op-
erations of 1861 - involving a
replacement of almost 81 bill
lion maturing I.O.U.s paying
.21a per cent interest a year
with three new Treasury obli-
cations due in 1868, 1866 and
1874 and carrying coupons of
314 to ga per cent.
This deal is primarily of in
terest to banks, institutional
investors and a few wealthy
individuals.
Nevertheless, the operation is
of vital significance to all of
us because it affects the sta
bility of the dollar. the control
of initiation and the confidence
of the free world in the fiscal
soundness of the United States.
Indications are that most of
the holders of the old I.O.U.s
will replace them. What this
deal tells about the Treasury's
attitudes of broad interest and
significance to us.
Operations Explained
What the Treasury is doing
first is competing for buyers
in an old-fashioned, orthodox,
courageous way-meaning it's
offering buyers a variety of
goods" it's pricing the goods
attractively, its not risking a
failure by trying to save little
amounts on the operation. For
instance. it is selling three is
sues in three different maturity
ranges although it could have
offered only one issue. 1t has
priced the issues far below the
going market and has thereby
compelled investors to take seri-
GUS notice of their sale. 1t has
forfeited the chance to save
minor amounts on interest pay
ments, has been generous in
stead.
This is a realistic, hard
headed approach to handling
debt and it has characterized
every move of Treasury Secre-
tary Dillon'S debt management
team. AS a result, the Treasury
has kept invest or buying
United States securities even
when the buyers were sure the
Evening star., 1961-11-09
Home Insurance
Rate Is Approved

T. Nelson Parker, commits
sioner of insurance for Virginia,
has approved a request by
American Homeowners Insur-
ance Co. of Washington for a
IS per cent reduction from
bureau rates" for private pas
senger automobile insurance in
Virginia.
The Washington company
previously was granted a 20 per
cent reduction on liability in
surance in Virginia.
Evening star., 1961-11-09
BUSINESS
BRIEFS
Bank Clearings in 26 lead

Bank Clearings in 26 lead
ing cities in the week ended
Wednesday fell 11.2 per cent
to the lowest level since Labor
Day week. The total was S26,-
263, $4,000 VS.. S29, ,564 ABS 900
a week earlier. 1t was 81 per
cent higher than the year-ago
level of $24,169, ,672, ,OO0.-Dun
& Bradstreet, Inc.
Westinghouse Electric Corp.
has received a S4.5 million or
der for electrical equipment for
l18 new New York City sub
way cars. The contract was
awarded by the st. Louis Car
Co.. a subsidiary of General
Steel Industries. Inc, which
will build the cars.
Columbia BrOadcasting Sys-
tenn, Inc. said it will spend
$14.5 million in the next two
years on Improvements to it's
television and radio production
facilities in New York.
Beatrice Foods Co. will take
part in a joint venture with
the Burmese government to
build a $2.5 million condensed
milk plant in Rangoon.
Borg Warner Corp. has esti-
1861 factory sales of its
Norge appliance division at
within 5 per cent of the record
volume of 1929 million in 1855.
The American Car g. FOun-
dry Division said today it will
close its railroad car building
shops at Berwick, Pa, late in
1862. The shops have averaged
1000 employees over the past
four years. The company said
all railroad car building opera
tions will be consolidated in
plants at Milton. Pa; Hunting
don, w. Va, and st. Louis.
Evening star., 1961-11-09
Baltimore Attorney
On Sove-Mor Board

Frank Hirsch, Baltimore at
torney, has been appointed a
director of Save-Mor Drugs.
Inc, of Washington, it was an
nounced.
Mr.. Hirsch is senior vice
president and counsel for the
Charles Small Business Invest
ment Corp. of Baltimore and
also is treasurer of the Mid
Atlantic Regional Association of
Small Business Investment
Companies.
He is a director and chair
man of the executive committee
of NEUTRALITY-SUSPICIOUS. He'll
copter Airways, Inc, and vice
president and counsel for Vic
toria Land Co., Inc.
Evening star., 1961-11-09
METALS

NEW YORK. Nov. 9 CAP).-spot
9RG9nIerrouS metal prices today: Copper
- cents a pound, Connecticut Valley
Lead l0!2 cents a pound, New York
zinc Ia cents a pound, East ST
Louis. Tin l.22ss a pound. New York
Foreign silver 919s cents per troy
ounce, New York
Pittsburgh scrap steel No. | heavy
was quoted by Iron Age at "a. .O0-34 90
Evening star., 1961-11-09
English Fords Given
PrevieW at StotIer

English Ford dealers in the
Washington area previewed the
1862 line of English Fords at
the Statler Hilton Hotel this
afternoon.
Three English Ford Anglia
models, including a station
wagon, and three Consul models,
including the new sports-type
two-seater Capri, were shown.
Sam E. G.. Toy of Ford. Ltd,
presided at the dealer meeting.
Evening star., 1961-11-09
Banks Open as Usual

Area banks, savings and loan
associations and other finan-
cial institutions will be open
for business as usual tomorrow
despite proclamation of a holi-
day for Government employees
in observance of Veterans Day.
Evening star., 1961-11-09

Institute of Banking, at the
Mayflower Hotel last night.
A commercial banker and a
mortgage banker repeated the
well-known SkepticiSm of the
financial community about the
value of the new long, long
term mortgage program for
people who otherwise might not
be able to buy homes.
An assistant commissioner of
FILA maintained that judg-
ment on depreciation and other
points should be reserved
pending some actual expert
ence with this phase of the act.
A representative of the Home
Builders Association main
tanned that modern homes will
last longer than those built in
the 1920s and would outlast
the longer mortgages by many
years.
Scores Omnibus Bills
Hector Hollister, executive
vice president of Frederick w.
Berens, Inc, mortgage banking
firm, said the 1861 act was an
other in a series of omnibus
housing bills which have turned
the FILA program more and
more to social purposes rather
than to help build homes peo-
pie can afford to buy or rent.
Instead of being sidetracked
on social programs which
should be handled by other
agencies, FILA should be put
back on the track, he said. In
surance rates should vary ac-
cording to risk and a person
with a good credit rating should
be able to get a better rate than
one with a poor credit back
ground, he emphasized.
One problem with the new
35-40 year mortgage program
will prove to be that when a
. mortgage is placed in that cat
egory it will be marked auto
matically as a relatively in
e ferior mortgage, he said. This
will penalize the buyer he pre-
. dicted.
Mr.. Hollister expressed hope
= that some day the Government
will permit a return of a free
p interest rate so that the pres
ent complicated discount sys-
TEN can be abandoned.
Says Banks are Barred
Harry P. Bergmann, vice
president of Riggs National
Bank. predicted that banks
would not be able to purchase
the 35-40 year mortgage be-
cause Of nquidity requirements.
. He pointed out that in the
case of a $4,000 loan at 512
per cent, the buyer would pay
$12,530 of interest in addition
. to the $4,000 principal under a
'30-year mortgage.
. Under a 40-year loan, the
buyer would pay more than
$4,000 of interest in addition
Ito the $4,000 principal, he de-
'clared. @
In the case of a $4,000 40
year mortgage after the fifth
year, the buyer still would owe
$3.50 while at ordinary depre-
citation rates the house would
be worth only $9,200.
Mr.. Bergman said the buyer
in this case would owe slightly
more than the house was worth
and expressed fear that this
kind of a situation would en-
courage defaults and foreclos-
ures. This would be detrimen-
tai to both borrower and lender,
: he declared.
Called Experiment
= Edwin G. Callahan, assistant
FILA commissioner, emphasized
Evening star., 1961-11-09
OVER COUNTER

Following Lrices furnisbed - -
National Association Of sscyritias tae
DeaIers in WASHINGTON represent tbs
range within which locally active
fgg sefGggritleS could have been bought or
so'u at pm. Thursday, November 9:
Evening star., 1961-11-09
Depreciation Seen Key
To Fate of 35-4O Year
Mortgage Program
THE EVENING STAR
Washington, D. c.
Thursday, November 9, 1851
BY DONALD b. HADLEY
Star financial Editnr

Will modern home depreciate faster than buyer pays
out IS or 40 mortgage under Federal Housing
program provided by the Housing Act of 1861?
This Ane of the key points which panel of experts
differed forum of Washington Chapter American
Evening star., 1961-11-09
TREASURY BONDS

NEW YORK (AP) Noon over the
counter US. Government Treasury bonds,
bid, asked, net change and yield for
Evening star., 1961-11-09
Called Experiment

. Edwin G. Callahan, assistant
FILA commissioner, emphasized
that the 35-40-year mortgage
Evening star., 1961-11-09
MUTUAL FUNDS

NEW YORK CAP) |
- National Associa-
tion Securities Deal
fars Inc
The coastland times with which is combined the pilot and herald of Belhaven and Swan Quarter. [volume] (Manteo, N.C.) 1959-1973, 1961-10-27
HATTERAS ISLAND
SURF TOURNAMENT
BEGINS THURSDAY

The fourth annual Cape Hatteras
Anglers Club-sponsored inter-club
and open individual tournament
gets underway next Thursday
morning, November 2, and as in
previous years, is expected to be
thoroughly enjoyed by the partici-
pants. Upwards of 40 teams have
entered, increase of seven or eight
from last year, according to reports
from Bill Dillon of Buxton, presi-
dent of the sponsoring organization.
Each year the event has increas-
ed in popularity, attended largely
by northern fishing clubs, members
of the Association of Surf Angling
Clubs. Two days of team compe-
tition will be followed on Saturday
by individual sport, and the affair
will close with banquet Saturday
night at which time awards will
be presented ranking anglers.
Winners in 1860 were as follows:
LIST place, Virginia Beach Anglers
Club; End place: Albemarle Anglers
Club of Elizabeth City; and 3rd
place; Merchantville IN. j. Fish
ing Club. There were dozens of
additional awards to other partici-
pants for unusual catches.
The coastland times with which is combined the pilot and herald of Belhaven and Swan Quarter. [volume] (Manteo, N.C.) 1959-1973, 1961-10-27
AAIilTENANcE REDGlNe
AT OREGON INLET: NEW
DOCK FOR SOUTH SIDE

Ccttrell Construction Company Of
Norfolk is presently dredging the
'erry basins at Oregon Inlet on the
lorth side, primarily maintenance
work, and as soon as feasible will
,egin work on an additional ferry
lip on the south side.
Following dredging work, the
State highway forces will begin
construction of new docking facili-
les at the southern shore, to re-
,lace the existing dock and ramp
which are suffering from
srosion. The new dock is expected
% be in operation before the 1862.
New ferry schedules win become
Effective next week at Oregon In
ct, as well as other coastal ferry
operations, and will be published in
his paper next week.
The coastland times with which is combined the pilot and herald of Belhaven and Swan Quarter. [volume] (Manteo, N.C.) 1959-1973, 1961-10-27
ENGELHARD PUBLIC
LIBRARY HAS HAD
RECORD OF SERVICE
A Few People Have Developed
Noteworthy Community Asset:
Has Over 900 Books

The Engelhard Public Library is
showing Family Life Film pro-
gram once month in the Commu-
nifty Building which is proving in
teresting for grown ups as well as
children.
The library was organized about
1910. Mrs. Clara Gibbs (O'Neal- a
former resident was so anxious to
see a library started that she went
to Raleigh and brought home books
in her car from the State Library
Commission before the bookmobile
came into the county. Shelves were
built in the Old Lodge building in
the Amity neighborhood and books
were donated by interested patrons
During the W.P.A. program lib
rarian was engaged, Mrs. Arpha
Berry Wilkinson former Engel-
hard girl served until the W.P.A.
project was ended, then it was
moved to the Engelhard commune
ty Building which was finished in
1910.
N. w. Shelton former county
superintendent of Hyde schools,
Mrs. Clara Gibbs O'Neal and Mrs.
is. s. Neal were appointed on the
Hyde Committee to get it started
and going, shelves were put up by
then Mrs. Clara Gibbs assisted
by Mrs. Neal and some equipment
added to make it comfortable. The
bookmobile started regular trips fill
ling the shelves and collecting the
books that had been read; Mrs. Vir-
ginia Miller was the first Librarian
followed by Mrs. s. S. Neal taking
care of it for several years.
The late Prof. and Mrs. Carroll
Mann of Raleigh were interested
patrons of the library while spend
ing vacations in their summer home
here and were great contributors -
Mrs. Mann's request was to donate
to the library here instead of Civ
ing flowers at her journeys end.
Many valuable books We're given,
Mr.. Mann had lovely hand made
book case to keep them in which in
Icluded set of The Encyclopedia
Americana and the Books of Faith.
Recently a book ON the Life of
Christ in masterpieces and art was
given by a friend in memory of the
late Mr.. Mann.
A beautiful hand painted likeness
of Mrs. Mann given by a friend
hangs over the Book Case.
Donations are always welcome.
The American Legion Auxiliary
members furnished a shelf, other
donations have been made by inter-
ested readers. Mrs. Janice Spencer
the present librarian reports more
than 1000 books on the shelves kept
in circulation by the bookmobile
each month.
During vacation a story hour is
See LIBRARY, Page Four
The coastland times with which is combined the pilot and herald of Belhaven and Swan Quarter. [volume] (Manteo, N.C.) 1959-1973, 1961-10-27
HIGH SEAS RESULT
IN MINOR FLOODING

A combination Of circumstan-
ces, Observers say, resulted early
this week in many coastal roads
and other property being sub
jected to minor flooding of At
lantic Ocean waters.
The month Of October, like
April, with the changing seasons,
bring about global tidal changes
resulting in higher tides along our
section Of the coast. This coupled
with full moon on Monday night.
and rough weather conditions off
shore resulting from recent
storms, has brought water over
the beach, and onto the highway
and low-lying areas from Kitty
Hawk through Ocracolxe.
No major damage has been re-
ported, although buildings located
TOO close to the oceans edge have
threatened. Travellers sometimes
have been hampered during high
tide.
Sea conditions are expected TO
return 70 normal BY the week
end.
The coastland times with which is combined the pilot and herald of Belhaven and Swan Quarter. [volume] (Manteo, N.C.) 1959-1973, 1961-10-27

MRS. ELIZABETH LAWRENCE
is the new case worker with the
Dare County Welfare Department,
having assumed her duties the first
of October. She is the wife Of John
Lawrence, Mays Head real estate
man and they have two children,
John S. III of Norfolk and Betsy,
a freshman at East Carolina Col
lege, Greenville. Her duties val in
clude public assistance and related
services. W tta,fss.sy
Mrs. Lawrence is the dRughter of
the late Rev. r. R. Grant, who as a
Methodist minister served the Mon
teo church during the thifties. Her
mother was the late BettyA Carter
Grant of Fairfield, HYDE County.
Mrs. Lawrence was hornt in On
slow County, and moved about
quite a bit during her early years,
as her father changed pastorates.
Active in welfare work for many
years, Mrs. Lawrence has held va
rious posts in the counties of Cam
den, Hyde, Hartford. andamast re-
Gently in Tyrrell County where she
was case worker. She is gradu-
ate of Duke University.
The coastland times with which is combined the pilot and herald of Belhaven and Swan Quarter. [volume] (Manteo, N.C.) 1959-1973, 1961-10-27
OCKFISHING SAID
IMPROVING RAPIDLY
IN SOUND WATERS

With weather conditions much
improved following stormy week
nd rockfishing in the waters of
PIPER Croatan Sound and in the
waters of the Albemarle was des-
ined to show much improvement.
Before the week end blow some
air catches had been reported. Re-
ported by Capt. Chick Craddock
vas 81 stripers taken on Saturday
Immediately prior to rough weather,
" Carris Lucas and party of Will
ON.
Peak season for rocl1fishing us
ialiy comes on or about November
|. During the big run several ves-
els of the Oregon Inlet deep SEQ
md gulf stream fleet, base at
danns Harbor or Roanoke Island.
The coastland times with which is combined the pilot and herald of Belhaven and Swan Quarter. [volume] (Manteo, N.C.) 1959-1973, 1961-10-27
CHANNEL BASS FISHING
GETTING BETTER DAILY

w. J. White, Columbia merchant,
fishing from the Seaport Pier in
lower Mays Head Wednesday hook
ed and landed 46l2 pound channel
bass, the largest of this species of
fish taken anywhere along the Dare
Coast during the current autumn
the seasons first from this pier,
surf fishing season.
He used cut bait and since it was
White was given a seasons pass.
E. L. Schinke Of Hatteras report
ed that three large channel. bass
were taken Thursday morning at
Hatteras as follows: 4212 FOUNDER
by Bob Taylor; 3722 FOUNDER by
Jack Douglass and 39iEa FOUNDER
by Perez Douglas. The anglers were
fishing with a party from Cape
May Court House, N. j., their
hometown. They were fishing with
Capt. Ernal Foster in Hatteras In
let,
The coastland times with which is combined the pilot and herald of Belhaven and Swan Quarter. [volume] (Manteo, N.C.) 1959-1973, 1961-10-27
IA MEETING IN
WILLIAMSON ON
BIRD OF NOVENABE Err
r. County Betferment Organiza-
lion Observing 26th Year Of
Operation

The Southern Albemarle Associa-
on's Goth annual meeting will be
ED next Friday, November 3rd at
he Roanoke Country Club, Will
amston, beginning at 1890 am.
en-. Sam j. Erwin, Senior Senator
rom North Carolina, will make the
cincipal address, following an in
roduction by Hon. Herbert c. Bon
sr, Representative of the First
congressional District.
\ Presiding will be John G. Cur
anus of Williamson, who was
ected last year as vice-president.
e moved up to the presidency fol-
gwing the appointment of Robert
4. Cowen to u. s. District At
',rney for Eastern N. C. Mr.. Cow
a, however, is expected to be pre-
mt.
The morning program viii be OPP
ned with invocation by Rev. Sid
ey Boone, pastor of First Metho-
ist Church, Williamson, followed
y welcome address from Williams
On Mayor N. G. Green. Responses
III be heard from the county vice.
residents as follows: DIR. w. r.
alph, Beaufort County; Pennell A.
iilett. Dare County; w. ]. Lupton,
hyde; John H. Gurganus, Martin;
|Irs. Effie A. Brickhouse, Tyrrell;
4. E. Harrell, Washington.
Mr.. Bonner and Mr.. Erwin will be
card following the responses. A
uffet luncheon will be held prior
the evening session, at which
Eme business action of the organi-
alton will take place, and new Of
icers elected.
The Southern Albemarle Associa-
ion was formed on October 80,
935, in Columbia, by a large gath
ring of representatives of the
Iounties of Dare, Hyde, Tyrrell and
Washington. In 1858 Beaufort and
fartin counties were admitted to
he Association. The groups prin-
|ipal detectives have been to work
Effectively in getting necessary
Dads, bridges and other improve
Iaents for the area which, unlimited
nd with small population, voiced
title power.
Many projects have seen COM
.,letion, and another - the Alliga-
.or River Bridge - is expected to
se open to traffic around the first
f the year. An appropriate cele-
ration is in the planning stages
how by SAA officials, probably tc
be held in the spring.
The coastland times with which is combined the pilot and herald of Belhaven and Swan Quarter. [volume] (Manteo, N.C.) 1959-1973, 1961-10-27
BONNER. HARDING
ENTERTAINING ON
THE OUTER BANKS
Haiteras and Ocracoke Citizens
Serve Native Seafood. and
Head Lively Programs

The fishing trip of Congressman
Herbert Bonner; and the famed
Washington, N. C. after-dinner
speaker Edmund Harding turned in
to happy exchange of entertain.
ment this week, with meetings both
at Ocracoke and Hatteras.
On Tuesday night, the business
men of Hatteras village provided
a dinner at Peele's restaurant for
some 35 citizens, and the visitors
were treated to a combination sea-
food platter of native products.
Frazier Peele served as host for the
occasion.
Immediately following the group
met at the nearby Community house
where all seats were filled by cit
liens who had come to hear Mr..
Bonner speak, and who after hear
ing a strong speech on American
ism, and appeals for education, were
treated to an extra dividend by
hearing one of Mr.. Harding's $500
after dinner speeches, with group
singing, and according accompani-
ment, all for free.
This meeting was presided over
by Woodrow Edwards of Waves,
who is prominent in the civic life
of Hatteras Island. Another speak
err was State Senator P. d. Midget
Jr. of Engelhard who offered a plea
for support of a project to estab-
lish an automobile ferry between
Hatteras and Engelhard, pointing
out that on completion of the Lind
sey Warren bridge over Alligator
River this year, there will be three
boats taken out of service.
A similar meeting was held at
Ocracoke Monday night when the
visitors were guests of the Ocracolse
Civic Club, and projects of vital
interest concerning area were dis
cussed. During Mr.. Bonner's career
in Congress he. has been successful
in getting Government aid for the
channels and harbors in both places,
and among those of great local in
terest at Hatteras is the Harbor
breakwater.
Both men were enthusiastically
received and they received strong
applause from the audience, most
of them being longtime friends of
the Congressman.
Mr.. Harding's talk comprised the
second part of his program. In the
first he led group singing with
Congressman Bonner, Senator Mid
|gett and Ben O'Neal of Ocracoke
participating. The speaker predicted
la great and prosperous future for
the Outer Banks. In fact he pre-
dicted it had the most promising
future of any part of our state. Its
degree of success he pointed out,
can depend on the amount of work
and advertising our people put into
it. We need to tell the world about
us, and be prepared to accommodate
the visitors when they come here,
he said.
The coastland times with which is combined the pilot and herald of Belhaven and Swan Quarter. [volume] (Manteo, N.C.) 1959-1973, 1961-10-27
.ARGE MOUTH BASS
FISHING FAIR ON COAST

MACS HEAD ~ Large mouth
pass are still taking a variety Of
artificial lures in the waters Of
|Jolington and Kitty Hawk Bay. 1t
3 the same story in the eastern
reaches Of East Lake and at South
lake on the mainland Of Dare.
On. the mainland many anglers
Ire not only pitting their skill
against large mouth bass and other
eresh water fishes, but also hunting
|ieer or bear on the same day, and
ID the same general area.