davidaulloa/AmericanStories huggingface dataset:
Evening star., 1961-11-05
Alb Schedules Forum
On Problems of Longer
FILA Lending Terms
By DONALD B. HADLEY
Star Financial Editor

First Of series Of forums problems expected to result
from law which permits engthenng Of matries Of
Feray insured mortgages to IS and in cases 40
years. will be held here Wednesday night at the Mayfower
Hotel.
Sponsored by washington Chapter Institute of
Evening star., 1961-11-05
Why Are They All
Reading The Wall
Street Journal?
! sent ST and found the answer
By a Subscriber

I kept seeing The Wall Street
Journal everywhere-on trains,
on planes, in offices, in clubs.
Seemed like I ought to have 9
copy, too.
1 sent 81 for a trial subscrip-
tion. l was glad I did. / found
some of the brightest, most IN
teresting articles I'd ever read.
The Journal gave me ideas on
what to do to keep my taxes
down - ideas for earning more
money-ways to get more value
for the money I spend-wa5H-
ings on trends that affect my
income-ways to protect my in
terests or seize a profit.
Now I'm a regular subscriber.
Believe me, The Journal has
paid off. I'm living better, and
my income is up about 209o.
A few minutes daily reading
Of The Journal has put thou
sands of men on the road to in
creased earnings. The Journal
helps salaried men making
$500 to $4,000 a year. 1t is
valuable to small business men.
1t can be of priceless benefit to
ambitious young men who want
to earn more money and win
advancement.
The Wall Street Journal is
the complete business DAILY.
Has largest staff of writers on
business and finance. The only
business paper served by all
three big press associations 1t
costs S24 year, but you can
get a Trial Subscription for
three months for 81. Just tear
out this ad and attach check for
81 and mail. Or tell US to bill
you. Address: The Wall Street
Journal, "A Broad St., New York
4, N. Y. ws 11.s a,
Evening star., 1961-11-05

Banking, the initial forum will
bring togeth er commercial
bankers, m ortgage bankers,
home builders and Government
officials to study the problems
resulting from allowing a loan
and its attendant interest to run
for as much as 40 years.
-Four prominent executives
from as many different fields
will serve on the discussion
panel. They include: Edwin G..
Callahan, assistant commission
er Of the Federal Housing Ad-
ministration; Hector Hollister,
executive vice president Of
Frederick w. BerenS, Inc; Har-
ry P. Bergman, vice president
of Riggs National Bank, and
David K. Gillogly, assistant di-
rector of economies for the Ma
tional Association Of Home
Builders. Nathan A. Baily, dean
and professor Of the School of
Business Administration at
American University, will serve
as moderator.
Some financial and business
groups have expressed skepti-
Sism Of the economic value Of
the longer maturities and have
been concerned that they might
pave the way for unsound pol
icies detrimental to lender and
borrower alike.
1t has been pointed out that
the ultimate cost to the bor-
rover will be increased sub
stantially. Many years Of pay
ments will be required to build
even a small equity in a home.
Because a homeowner will
be able to live for a long time
in a house without building
much Of a real ownership in
the place, it has been recog-
nized that some may regard the
interest payments as cheaper
Evening star., 1961-11-05
BUSINESS
BRIEFS
BituminOus Production

BituminOus Production in
the week ended October %
totaled 8,9SO,O00 tons compared
with 8,545,00 in the previous
week and 8,154,000 in the like
week a year ago.-National
Coal Association.
Motor Vehicle Output last
week totaled 152,629 cars and
26,377 trucks compared with
159, 1876 and 25,463 in the previ-
GUS week and 145,537 and H.
876 in the like week a year
ago.-Ward's Automotive Re-
ports.
Sales Of Series E and H
savings bonds In october
totaled 1870 million, up 7 per
cent from a year earlier. Octo-
Der redemptions totaled $3.50
million, down 81 million from
a year ago.-Treasury Depart
ment.
World Bank Reserves in the
g months ended September 80
totaled S626 million, up $24.2
million for the quarter.
Glidden Co. shareholders ap-
proved a merger with Pence
Corp. of Baltimore in a trans
action involving about $40 mil
lion. Pemco approved the ex-
change deal in August.
Evening star., 1961-11-05
Smiths Storage
Plans Dedication

Smiths Storage Co. will
dedicate its new $250,0OO ware
house and three retail stores
in Kensington, Md, at 3 pm.
today.
Arthur Clarendon Smith, ST.,
board chairman, said the new
facility increases Smiths ware
houses to nine in the area.
Ground will be broken for a
10th in Alexandria in January.
This will include a truck termi-
nal and furniture store.
Speakers at the Kensington
ceremonies will include: Under
secretary of Agriculture Charles
Murphy, State Senator Blair
Lee III and Mayor Victor A.
Gentilini Of Kensington.
Evening star., 1961-11-05
Bank Audit Section
To Meet Thursday

The Audit, Control and Oper-
ations Section of the District
Bankers Association will hold
a dinner meeting at the Bur-
lington Hotel Thursday night.
Capt. David A. Higgins of the
Check and Fraud Squad of the
Metropolitan Police Detective
Bureau, will discuss swindlers
and Identification.
Evening star., 1961-11-05
COTTON

NEW YORK, Nov. 4 CAP). Cotton
futures fell 10 cents to 81 a bale on
the New York Cotton Exchange this
week, with nearer months absorbing
the worst losses.
Switching from the December contract
to later months again was a feature Of
trading. Other factors exerting down
ward pressure included moderate hedge
selling, scattered liquidation and the
uncovering Of stop-loss orders.
Declines were tempered to some ex.
tent by mill and trade price fixing,
plus commission house buying.
The Government-announced parity price
for October Of 1888 cents a pound had
little or no effect on the market, how.
ever.
Exports for the week ended Tuesday
were estimated by the Exchange Service
Bureau at III 900 bales against 1910
a week earlier and 10000 in the COM
parable 1850 week This brought exports
for the season through October to
l,Ao4,ooo bales compared with $4,000 a
year ago.
Evening star., 1961-11-05
TREASURY BONDS

NEW YORK (APJ-Over the Counter
US. Government Treasury bonds, weekly
high, low and closing asked prices,t he
net change front he previous weeks
IL NgfaIA
Evening star., 1961-11-05
Sessions Planned
On Federal Contracts

More than 700 are expected
to attend the annual two-day
conference on Federal con-
struction contracting in the
Lisner Auditorium at George
Washington University tomor-
row and Tuesday.
Sponsored by the GWU Ma
tional Law Center and Federal
Publications, Inc. the program
includes talks by Government
officials and construction in
dustry experts.
1t. Gen. Walter K. Wilson,
jr., the Army's Chief of En-
gineerS, will address a dinner
at the Statler- Hilton Hotel to-
morrow night.
Evening star., 1961-11-05
EIectronic Company
Reports Sales Gain

Electronic Wholesalers, Inc,
of 2345 Sherman avenue NV,
reported sales in six months
ended September 80 rose to
SIS, $40, ,746, an increase of
81 1,071,219 from $4,478,527 in
the same 1860 period.
The latest sales total in
cluded three months sales OF
Dalton-Hege, Inc, of Winston
Salem, N. c., which was ac-
quired July /. These amounted
to $477,089.
Evening star., 1961-11-05
BANK STOCKS

NEW YORK, Nov. (AP). National
Association of Securities Dealers, Inc.
Closing prices:
Bank & Trust
Evening star., 1961-11-05
CHICAGO GRAIN

CHICAGO, Nov. 4 CAPD.-BuyinE
support VAS scarce in grain futures
this week ana prices slowly backed
Gown almost without interruption on
the Board Of Trade.
Brokers said the weakness was
aseribed more to lack OF sustained
demand than to any significant bear
ish influences although there we're pc
riods Of fairly heavy liquidation in
soybeanS.
Although corn held within q narrow
range throughout the week Il was
heavily traded most days with open
interest mounting rapidly and suggest
ING an increased public participation
in the market.
Commercial business slackened con-
siderably all along the line although
numerous large offers remained out
standing for acceptance Of wheat.
At the end Of the week, wheat was
UNCHANGED to y cent q bushel lower
than q week ago, December 2.O21z;
corn 4-lA lower, December l l.O91a-ss;
oats l cent lower to 70 higher, De-
cember 66Js-67; rye 1Iz-4 cents lower,
December 1.401z-41; soybeans l3s-314
lower, November 2.40ss-i5
Range Of prices for the week:
Evening star., 1961-01-15

ACCOUNTANTS
BOOKKEEPERS
GEN. OFFICE CLERKS
KEY PUNCH OPRS.
SECYS. AND TYPISTS
AND ALL OTHERS
CHECK FIRST WITH
COLUMBIA EMPL. SERV.
1341 q NV, Suite 224, ME. 5000
Evening star., 1961-01-15
PHARMACEUTICAL
Pharmaceutical
Representative

Major Company needs Q man Il
represent ethical products to thu
medical profession.t
Desirable candidates should have {
college degree and be between tht
ages Of 25-35. Sales or teaching
experience helpful. Stability. .goot
personal adjustment and desir,
to build stature in your com
munity are essential,
Good starting salary with perform
ance bonus and career security
Car furnished. plus expenses
Benefit program Includes hospi'
tali1ation, life insurance, pension
and stock option.
Write giving BACKGROUND and ex
: perienee--ineiude recent photo
graph. state salary requirements
MEAD JOHNSON & COMPANY
Rtl5 peachtree Street. NE.
Evening star., 1961-01-15
MELP MEN

UNDERWRITER rRAINEEI train.
Ing prosTsin for young college
Handke, SMELLING AocYr o0l
Evening star., 1961-01-15
SALES

Encyclopaedia Brittanics offers
high income and security; nc
canvassing, Call JU, o-6921 for
appt. for interview.
Evening star., 1961-01-15
HELP MEN

|sHoE SALESMAN. part time. ewes;
;,.s Scs;S sstisttns ~ 81 Asalsry nxpertsnsIs
n person. mA,s DEPARTMENT
STORE. 1901 Georgia ave. NV.
SHOE SALESMAN, to manage cloth
ing-shoe store Experience nec-
sssssry. MR.. sWARTz. RE. 5.
Evening star., 1961-01-15
RELR MEN

stI.s ~. .lssS.l. 5sSEFE sA .ss 81. i ss:% :s
i:si ssiassiins dsssss. opSo.sHRity
TO travel In tri-stats area: selected
applicant VIII receive training n =
oilers permanent connection with
chance for advancement and al
major petroleum company benefits.
Send resume TO Box 74-M. star.
Evening star., 1961-12-11
YOUR
MONEYS WORTH
7 ak Hints From the Chief
sY SYLVIA PORTER

fighting. Mr.. Caplin is eager to
inform you about rights, wants
you 70 use them.
II you're an average taxpayer
needing assistant on how to
file a return, seek help at your
nearest district directors Of
flee. The IRIS is expanding and
improving services to all tax
payers.
In this weeks columns, I'll
elaborate on each of these
points. First, though, what sort
of man is the new commits
sioner?
The answer is that he is
typical of what is increasingly
identified as the Kennedy
type" Age As. . Phi Beta
Kappa, University of Virginia,
1887, and to in his class when
he graduated from University
of Virginia Law in 1910. -. In
er-collegiate boxing champion,
a member of the Virginia
Players as an undergraduate,
excellent swimmer who also
likes to play tennis, ski, ride,
bowl. .. World War II Navy,
who was a beachmaster at
Omaha Beach on D-Day.
married and father of five
young deductions" aged 2 to
IA. :. Professor of tax law at
Virginia for 10 years prior to
his appointment as commits
Sioner, who had as students two
of the Presidents brothers,
Robert and Ted Kennedy. &.
Slender, medium height, dark
hair, high forehead. a quick
smile, exceedingly vocal, an ex-
pert among experts and loaded
with charm.
Despite it all. as a taxpayer
who has had a sizable share
of disallowances from the IRIS
over the years, I approached
our talk with underst; ndable
wariness. Much of what Mr..
Caplin said was realistic, prac-
tical and reaSSuring.
Tomorrow's olumn is di-
rected to housewives and do
mestic employees who have been
evading taxes and to taxpayers
who have failed to report di-
videndS and interest received.
Distributed 1851 by The Hall
Syndicate, Inc. All Rights Reserved)
Evening star., 1961-12-11
Falls Church Firm
Gets SRS Contract

Scope, Inc. of Falls Church
has received a contract from
the Southern Railway System
to construct an unusual clear
ance-measuring device to de-
termine exact heights of tun-
nels, bridges and other railroad
structures.
The device projects a thin
plane of light upward from a
motorized hand car. The re-
Elections are recorded and
measured to find how much
clearance railroad car has.
A Spokesman said the Southern
estimates its savings in the
first year of operation shSlld
cover the $4,000 contract.
Previous techniques have used
survey teams or slow mechan-
ical "feeler arms" to find a
tunnels height.
Evening star., 1961-12-11
B|ough Doubts
Higher Tariffs
Will Aid Steel

NEW YORK, Dec. IL (AP)
Roger M. Blough, chairman
of United States Steel Corp,
thinks lower production costs
rather than high tariffs are the
answer to stiffening competi-
ton from steel imports.
He indirectly joined rising de-
bate over President Kennedy's
call for a bold. new United
States policy to lower interna-
tional trade barriers.
Although he did not mention
the President. Mr.. Blough said
he felt many in Washington
are awakened. if not yet
aroused" by increasing perils
to the national economy. chief
ly from what he called a tide
of competitive progress in the
free world"
In a talk at the Pennsylvania
Society Mr.. Blough said the
United States now imports Ia
tons of steel for every ton ex-
ported, whereas formerly the
ratio of imports to exports was
/ to 3 or S.
Mr.. Blough said competition,
especially from the Common
Market countries of Western
Europe. is sure to rise in the
years ahead.
Trade barriers will not an
swer our future participation. I"
he added. LAS individual tariff
walls in other nations go down,
ours cannot successfully of up"
Evening star., 1961-12-11
ON WHEELS
So What Else Is New?
By CHARLES YARBRoUGH

DURAY, Va.-Don't let the
salesman give you any talk
about new options" such as
directional signals, air-cooled
engines, padded dash and auto
matte transmission.
In Ted Graves Car and Car
riage Caravan here, there is an
air-cooled international farm
wagon built in 1907; a 1910
Buick with a planetary trans
mission-the hydramatic of its
day: a 1881 Pierce Arrow with
a padded dash and a 1885 His
panO-Suiza with directional
lights.
The Hispano, built for the
Paris Show. has lizard skin on
the instrument panel and a
gold-plated trim. A directional
light operates with a switch
near the right-hand steering
wheel.
The cars are among rs gath
cred together by H. T. N.
Graves, president of Luray
Caverns and exhibited on some
$4,000 square feet of floor
space.
Because many of the cars
were found in such a sorry
state Of repairs, a complete
restoration shop was a first
necessity.
Under direction of Lawrence
Stilwell, a staff of mechanics
not only have done authentic
Evening star., 1961-12-11

Mortimer Maxwell Caplin is
the United States Commissioner
OF Internal Revenue. He directs
the handling of nearly 100 mil
lion tax returns through which
we'll hand over about S100 bill
lion of our earnings and in
comes to the Federal Govern
ment in the 1862 fiscal year.
When Mr.. Caplin was in New
York recently, 1 interviewed
him on his views, hopes, pro-
grams. Out of this talk came
practical guides and warnings
which can save you cash, and
trouble if you heed them. For
instance. 49,.
If you're a housewife employ
ing domestic help and not pay
ing the proper social security
tax due on your employees
wages, get honest this year,
start paying what's owed now.
If you do so. you'll be for
given for your past sins"
Warnings Offered
If you're a domestic employe
who has been 6ucking paying
income tax on your earnings,
do the same, get honest now.
Even if you have a long rec
ord of tax evasion, this step
will put you in the clear.
If you're a taxpayer who has
failed to report and pay taxes
on dividends and interest re-
ceived, also do the same, get
honest now. You'll be forgiven.
If you're a taxpayer who has
been cutting corners on your
expense account-be warned.
This is one area on which Mr..
Caplin is determined to con-
centrate and. whether or not
a new law is passed, the IRIS
has plenty of ammunition with
which to battle tax abuses here.
If you're a businessman who
has been undertaking the value
OF your inventories in order to
cut your tax debt, look out. A
major breakdown is under way,
and the quicker you get honest
the better for you.
If you're a taxpayer who is
convinced you're being taxed
unfairly, don't be timid about
Evening star., 1961-12-11
CHICAGO
LIVESTOCK

CHICAGO, Dec. IL (AP) 'tUsDA).-
Hogs, 5000; active, butchers steady to
25 higher; sows steady to strong: fair
shipping demand: 2S head 1-2 30
lbs. II 80. bulk mixed l-3 100-23
lbs. 16.75-l7.25. largely II 7.o0-l7 %:
mixed y and @-3 "30-2S0 lbs 1926
1873; mixed Ia and "a 10000 lb
sowS 13.15-14.75; 2-3 and Is 400
900 lbs. l2.50-l3T5.
Cattle, 1000: calves 100: slaughter
steers rather slow, mostly steady; high
choice and low prime. I,10O-1 200 ID
weights weak; heifers moderately ac-
tive. steady to strong; other classes
steady; half dozen loads prime 1000
choice and mixed choice and prime
9j0-l 800 ID. steers 255O-21 .35; few
loads choice l,550-l $50 lbs. 24.50-
% 90: load lots mixed good and choice
lighter weight steers @5.0O-25. rs:
most good 900-1, 300 lbs. 24.OO-25 .25; !;
few loads mixed choice, and prime
heiters 25.65-26.00: bulk choice
"A .50-25 so; good 23.OO-2425; few
standard vealers 1900-"3.0O.
Evening star., 1961-12-11
Mount Attending
Pdrkers' Session

H. Paul Mount. executive vice
president of Arlington Trust
Co.. is serving on a credit policy
committee of the Virginia
Bankers Association sponsoring
a one-day session December l3
in Richmond on Opportunities
and Responsibilities In Lend
ing"
More than 800 Virginia bank
ers are expected for the meet
ing at the John Marshall Hotel.
Evening star., 1961-12-11
Steel. Output
Gains Reflect
Rising Orders

CLEVELAND, Dec. IL (AP)
Steel output this week will
be close to the years peak of
.2.l3 million tons poured in the
last week of September, Steel
Magazine predicted today. The
September total was the most
for any week since May, 1860.
The magazine said the pro-
duction rise is supported by
heavier bookings which are
strengthening prospects that
December's output will be the
best Of the year. surprising
October's output of go million
tons.
Estimated production last
week has 81 million tons, q
l.3 per cent gain over the
previous weeks total.
Since most of the buying is
for January and February de-
livery" Steel said, 1T won't
have much impact on Deem
ber shipments. But it will cause
the mills to step up their ingot
production.
They'll want plenty of semi
finished material on hand in
the early weeks of 1862 so that
they can keep their shipping
commitments and accept new
orders from customers planning
big inventory buildups."
Steel's composite price on No.
l heavy melting steel rose 66
cents a ton to $34.33 last week.
Evening star., 1961-12-11
Banks and Executives
Offered Wornino

A University of Michigan in
dustrial relations authority has
warned bankers that both the
n-handed executive and the
banks that have gone human
relations happy" are extremes
to be avoided.
George S. Odiorne, director
Of the university's Bureau of
Industrial Relations, told the
Michigan Bankers Association
that the "hard-nosed" execu-
tive who rules like a martinez
usually ends up with only pas
Sive and dependent employees.
THE people with good saleable
skills have all left" he said.
On the other hand, many
banks have gone to great
lengths to make their employees
happy, on the theory that
happy workers make productive
workers. The problem is that
not only are the good workers
happy, but the poor ones are
too, he said. He urged setting
standards of performance. not
personality, for all personnel.
Evening star., 1961-12-11

YORK DIVISION, totalllng l63
stores, to First National Stores,
Inc. for an undisclosed price
The deal was consummated in
October.
Business during the rest OF
1861 in the Safeway chain
more than offset the drop
however. In the 48 weeks end
ing December 2, the company
reported sales of 338,943 ,507
an increase of more than $40
million or about 81 per cent
from the period last year.
Financial sources indicated
Sideways New England division
had not been doing as we'll as
its other areas in recent years,
The sale left the Washington
D. c. division as the only such
unit operated by Safeway east
of the Mississippi. The local
division is also the most sue
ceSSful one.
Safeway is the second largest
Supermarket chain in the
United States with sales ex-
ceeding $2.5 billion in 1860. 1t
operates more than 1000 food
stores.
Evening star., 1961-12-11
Monroney to Attend
Auto Dealers Dinner

The Metropolitan Auto Deal
erS Association will be host to
Senator Monroney, Democrat
Of Oklahoma, and several other
legislators Wednesday evening
at dinner meeting in the
Burlington Hotel.
Lloyd Coward. association
president, said the annual ses-
sion will include discussion of
dealer problems and legiSla-
ton. The organization repre-
sents so used car dealers in the
Metropolitan Washington Area.
The meeting begins at 8 pm.
Evening star., 1961-12-11

restoration; these cars will ac-
tually run.
The antique car exhibit is
closed for the season; will re-
open in April. The caverns
however. are open the year
round.
Big star Of the London Mo-
tor Show was the new Jaguar
Mark X-a drawing card that
so far has produced 1000
American and Canadian orders
Although the new IKE
sports car has been in Wash
ington several months, the
Mark x likely won't arrive at
Manhattan Auto show rooms
until well after the first of the
year.
Ultimate goal Of the factory
is to reach production of 300
daily.
December's Readers Digest
has some hints on "how to
care for a her car"
Author Edward Dark begins
with the reasonable premises
that nothing is harder on a car
than the short-trip, stop-and-
go driving that most of us do,
particularly when you are a
two-car family and the lady
drives the second one.
A "her" car, he points out.
is engaged primarily in stop
and-go city and suburban
driving, takes a greater beating
suffers more wear and needs
more attention than ooes a
his" car accumulating up to
10 times as much mileage
daily.
II 4
The Corvette Clubs board of
directors meets at 8 pm, tc-
morrow at Gunther Sadels
home, 1901 Joliet street, Silver
Spring. The regular meeting is
3 pm, December 19 at NBC
400l Nebraska avenue NV,
Officers will be elected.
Il
The Mercury Meteor has beer
on sale only a week but a new
glamour model with bucket
seats is being readied for in
PRODUCTION in February as the
Meteor S-33.
/ Trying to reduce rural roac
traffic accidents, the State Of
Indiana is beginning to erect
$4,000 stop signs at county
road intersections.
In early testing, one county
had four fatalities at rural in.
tersections in 1858. Stop sign.
went up and the following yeal
the fatalities dropped to three
There was only one in 1861
and have been none so far thi!
year.
4
MOtOrOla has unveiled al
electroic ignition system
which eliminates the breaker
points and condenser in TIN
distributor and replaces then
with a small magnetic pickup
system which will last the lire
Evening star., 1961-12-11
METALS

NEW YORK, Dec. II tAP).-Spo
n9nterrous metal prices today: Copper
81 cents a pound Connecticut Valley
Lead, -10h cents a pound, New York
Zinc, II cents pound, East St. Louis
Tin, l.2lss a pound, New York
FOREIGN silver, 1.02h4 per troy ounce
New York. Pittsburgh scrap steel No
! heavy was quoted by Iron Age a
35 5.0O-36.00
Evening star., 1961-12-11
Earnings

Wilson g. Co. in So weeks
ended october % earned ST.
100000 or $3.O6 a share VS..
S2,009,372 or SO cents in 1860.
Canada Dry Corp. in year
ended September 80 earned
S3.678.6l3 or STAT a share VS..
S3.732,882 or $l.50 in 1860.
Hudson Pulp & Paper In
year ended August 81 earned
S2,735,524 or 1922 a share VS..
Sl.101.524 or 3S cents in 1860.
Copeland Refrigeration in
year ended September 80
earned $1,842.l05 Or 1922 a
share VS.. $2,006.824 or $3.50
in 1860.
Detroit, Toledo & Iron R.R.
in 10 months ended October 81
earned $1.841,864 VS.. $2,7l9,-
137 in 1860 period.
Ward Industries in 3 months
ended September 30 had a loss
of S751,366' VS.. a loss of S7O9,-
OTIS in 1860 period.