davidaulloa/AmericanStories huggingface dataset:
Evening star., 1962-08-25

bonds. Government securities
and other assets as the COM
poSite portfolios of the funds.
About half the funds performed
better and half worse than such
an unmanaged portfolio, it
said.
The study concluded that
expansion Of mutual funds in
the last decade had contributed
significantly to the increase in
stock prices. However, mutual
funds were only one of a num-
Der of factors contributing to
this, it said.
The study took a critical view
Of the fees charged by invest
ment advisers of mutual funds.
Advisory fees of a representa-
tive group of funds in 1861
amounted to 1853 per cent Of
investment income, it found.
The fees were substantially
larger than the same advisers
charged clients other than
mutual funds, it said.
Evening star., 1962-08-25
Philippine Resort
Notes z Ouukes

MANILA, Philippines, Aug.
Is (AP).-Two earthquakes
were felt in the mountain re-
sort city of Baguio north of
Manila today, the Philippine
News Service reported.
The first, at 2:01 am, was
of intensity three on a scale
of nine. The second, at 1921
am, was of intensity one
There were no reports Of dam
age or casualties.
Evening star., 1962-08-25
Mariner Chooses
Short journey Home

SAN FRANCISCO, Aug. IS
(AP) .-Kenichi Horie. gracious
Japanese mariner, has decided
one boat trip across the Pacific
is enough-at least for awhile.
He's flying back home.
Mr.. Horie, %, has become a
celebrity here ever since he
sailed through the Golden Gate
two weeks ago after a 93-day
solo voyage in a 19-foot sloop
from Osaka, Japan.
He has been offered two free
ocean liner cruises but has
chosen to return home Septem-
ber II aboard a Japan Air Lines
jet flight.
Evening star., 1962-08-25

sented are Pennsylvania. West
Virginia. Kentucky. North Car
olina. Virginia. Tennessee and
Alabama. Executives of the
eight States agreed to approach
the problem on a regional basis.
Three estern Maryland
countieS-G arrett. Allegany
and Washington-are in the
mountain region concerned.
Concurrent with the study of
economic problems and oppor-
tunitieS of the Appalachian
region, the United States Bu-
reau of Roads is making a
highway survey of the area and
the ARA is conducting an
inventory of present State and
Federal programs in the region.
The aim of all three is to re-
vitalize the economy of what is
described as the largest single
area of hard-core unemploy-
ment and under employment
in the Nation.
Evening star., 1962-08-25
BY the Associated Press

The Navy's eighth Opera
'tion Deep Freeze" begins to-
morrow when Rear Admiral
David M. Tyree, expedition
commander takes off for Cali
fornia en- route to Antarctica.
After eight years of winter
ing -over as well as summer ex-
petitions, life in the frozen
continent is becoming almost
urban.
Expedition officials pointed
out to newsmen today that
atomic power, more electric
lighting, even plumbing for
some buildings, will be ready
for this years expedition.
The new operation will in
volve about $500 men ashore
and afloat, including civilians
of the National Science Foun-
dation. The Navy expedition is
to support the work of scien-
lists during the brief Antarctic
summer months when the
weather is better than it is in
winter.
The Navy plans to get the
first planes from Christchurch,
New Zealand, to the main base
at McMurdo about Septmeber
is. Leaving the continent will
be 288 Americans who have
wintered-over at. .McMurdo and
other permanent stations.
This years Deep Freeze force
includes IL ships. among them
a frigate and tanker of the
Royal New Zealand Navy, and
about 36 aircraft. All branches
of the United States military
service will be represented.
AS in other years, a series
Evening star., 1962-08-25
Seubourd's
Merger Gets
Approval
BY the Associated Press

A hearing examiner has rec
commended that the Interstate
Commerce Commission give 9
go-ahead for merger of the Sea,
board Air Line Railroad and tht
Atlantic Coast Line.
Hyman j. Blond's indorse-
ment of the merger proposal
yesterday brought a swift
sharp protest from the Railway
Labor Executives Association.
The merger plan already had
come under fire from the JUS
tice Department, other rail-
roads and some communities
served by the two lines.
The association said Mr..
Blends finding ignored the con-
tention of the Justice Depart
ment and other railroads that
the merger would flagrantly
contravene the policy of the
ANTITRUST laws"
The union organization add
ed it will deprive vast areas
of the Southeast of adequate
railroad service"
The association also COM
planned that Mr.. Blond did not
recommend adequate orotec-
tion for railroad workers whose
jobs would be affected by the
merger.
The two railroads estimate
the merger would wipe out
4.257 jobs and mean relocation
of 4,439 other employees in diff
ferent jobs.
Atlantic Coast Line has more
than $500 miles of track be-
tween Richmond, Va, and
Jacksonville, Tampa and st.
Petersburg, Fla. Seaboard op-
crates more than 1000 miles
from Richmond to Miami and
Homestead, Fla.
Evening star., 1962-08-25

Mr.. Segal. clad in pajamas.
died with a belt looped around
his neck. But a medical in
vestigator said lit did not ap-
pear he was strangled."
Mr.. Segal, who was raised
on New York's Lower East Side
and amaSSed a fortune in a
variety of business enterprises.
had checked into the hotel
Thursday and set up a busi-
ness appoint to discuss sale of
the stamp firm he headed.
Later, he dined with two un-
identified women.
Mr.. Segal, who lived in
Orange, N. j.. had a varied
background as an appraiser,
auctioneer. real estate broker,
machinery salesman and busi-
ness executive.
Evening star., 1962-08-25

size. per Sc, of individual funds
or companies is a problem at
the present time.
The more important cur
rent problems in the industry
appear to be those which in
volve potential conflicts of in
terest between fund manage
ment and shareholders, the pos
sible absence of arms length
bargaining between fund man.
agement and investment ad-
visers. and the impact of fund
growth and stock purchases on
stock prices" the SEC release
said.
No Relation to Size
These problems were found
to be unrelated to company size
except to the extent that ques-
tions arise concerning the al
location between fund share
holders and investment advisers
of the benefits arising from
large-scale operations.
Many of these problems,
particularly those relating to
the divorcement of ownership
from control and to the market
significance of a relatively
smaller number of large or
ganizationS, are not unique to
mutual funds but character
ize other financial and nonfi-
nancial institutions as we'll"
The SEC noted the rapid
growth of mutual funds since
passage of the Investment Com
pany Act of 1910. At the end of
1861, there were 344 open end
registrantS under the act with
$24.4 billion of assets, compared
with l4l companies and $448
million Of assets on June 30,
1941. the commission pointed
out.
The Wharton report was re-
quested by the SEC and will be
transmitted to Congress for
possible legislation. Wharton
received sos. 700 for the project.
The report said mutual funds
tend to specialize in common
stock investments and provide
a relatively easy means Of
diversifying risk which may be
particularly useful to small in
vestors. This diversification
also tends to lower the cost OF
equity capital and stimulates
more risky undertakings, with
a higher rate Of return than
would probably otherwise be
realized for a given total in
vestment, it also concluded.
However, the study was not
impressed by the performance
of mutual funds in making cap
ital gains. 1t found that on
average. they did not differ
appreciably from what would
be achieved by an unmanagec
portfolio. consisting of the SAM
proportions of common stocks
preferred stocks, corporate
Evening star., 1962-08-25
Honorary Degree Goes
To DR.. Austin Smith

DR.. Austin Smith, president
of the Pharmaceutical Manu-
facturers Association, delivered
the commencement address and
received an honorary doctor of
science degree at the New Eng
land College of Pharmacy's
graduation exercises in Boston
this week.
DR.. Smith, former editor of
the Journal of the American
Medical Association, lives at
450l Connecticut avenue NV.
Evening star., 1962-08-25
Mystery Plunge Kills
Millionaire Executive

NEW YORK. Aug. 25 CAP)
"A millionaire business eXecu-
tive plunged IL stories from a
luxurious new Manhattan hotel
yesterday in what police say
could be either murder or
suicide.
The victim, Herbert Segal,
ST, board chairman of Action
Discount Dollar Corp, a trad
ing stamp firm, landed yester-
day on a second floor setback
of the 21-story Hotel Summit.
He dropped from his l4th floor
room.
An autopsy was ordered, and
some police sources said there
were elements" which "indi-
Gated the possibility of homi-
eide"
But Police Inspector John L.
Kinsella, mulling over the baf-
fling array of clues in Mr..
Segal's room. said: L am in.
clined to think it was suicide" :"
Inspector Kinsella pointed
out that although the room had
been disarrayed. with sheets on
both beds tossed about and
lying partly on the
floor, there was no real indi-
cation" that a violent struggle
had taken place.
Police noted, too, that Mr..
Segal recently increased his life
under a company
policy from $4,000 to S125,0O0.
Most policies have a clause
against suicide.
Among an assortment of Mr..
Segal's personal effects in the
room was a letter he had writ
ten to his daughter. Mrs.
Dorothy Casper of Miami. Fla.
But police said it was not in
the nature of a suicide note.
Evening star., 1962-08-25
WORDS, WIT
AND WISDOM
BY WILLIAM MORRIS

Today's word game is de-
signed to test your ability to
recognize adjectives similar to
one another in meaning. Below
you will find two groups of ten
words each. The first group is
numbered l, 2, 3, etc. The
Evening star., 1962-08-25
Mutual Fund Conflicts
Cited in SEC Study
BY DONALD b. HADLEY
star Financial Editor

Potential conflicts Of interest handling affairs invest
men companies mutual funds of the problems
raised critical appraisal of type enterprise
public by the Securities and Exchange Commission
The appraisal outlined special study compiled for
the SEC by the Wharton School of University
Pennsylvania
report concluded that there is little evidence that
Evening star., 1962-08-25

second group is lettered A, B,
c, etc.
For each word in the first
group you will find a word of
almost the same meaning
(synonym) in the second group.
Thus the word numbered / may
mean practically the same as
the word lettered F, Write this
down as IF. When you have
all the answers, check against
the correct pairings at the
bottom.
Score 10 for each correct
answer. If you score below 80,
better look up in your dictionary
IL
Evening star., 1962-08-25
TwoICCAides
Told Of Plans,
SYm@ Says
BY the Associated Press

Officials of the Pennsylvania
and New York Central Rail-
roads talked about their merger
plans with two Interstate Com
merce Commissioners before
the proposal was formally pre-
sented to the agency, the
Pennsylvania's board chairman
says.
But James M. Symes denied
yesterday that there was any
thing improper about the ad-
vance talk. He said he felt
obligated to let the commission
know what the railroads had
in mind.
Mr.. Symes said he and Gen.
tral President Alfred Perlman
talked with the two commits
sioners for less than 40 minutes.
The commissioners were not
identified.
Joseph Gallagher, an attor-
ney with the Justice Depart
ment's Antitrust Division, said
he will question Mr.. Symes
about the meeting again Mon
day, when two ICC examiners
resume a hearing on the merger
application.
Legal Action Hinted
If further evidence indicates
a case Of a group privately urg-
ing its viewpoint on a regula-
tory body or commissioner the
Justice Department will have
to consider the meeting care
fully, Mr.. Gallagher said.
Did you get an informal ex-
preston from the commission
ers that the plan was good?"
Mr.. Gallagher asked SymeS.
Absolutely not" the railroad
boss replied. 1--WE didn't expect
to. That wasn't the purpose of
the meeting. They had no
comment to make on the pro-
poSals and I didn't seek any"
Other Meetings Held
Similar meetings, he said,
were held with the Attorney
General, Undersecretary of
Commerce Clarence D. Martin
and members of Congress.
Mr.. Symes' testimony wound
up the first week of what is
expected to be a lengthy hear
ing on the merger application.
Mr.. Perlman is to follow the
Pennsylvania chairman to the
witness chair next week.
Evening star., 1962-08-25
he words you missed

Answers: l-G, 2-I; 3-E; Al |;
sc; cd; tn; 8-F; ga; To-
B.
Do you know the most COM
mon errors of grammar and
usage and how to avoid them?
For a list of common mistakes
and advice on how to improve
your speech and writing. simply
send a self-addressed, stamped
envelope, plus 10 cents to cover
handling to William Morris,
Good Grammar" in care of
The Evening Star.
Evening star., 1962-08-25

MIR. and Mrs. II. A. lowers
of DeLand, Fla, formerly
residents of the Washing
tor area, celebrated their
50th wedding anniversary
here recently. Four of
their five children and IL
of their IA grandchildren
live in the Washington
area. Their actual ami
versary date is Novem-
Der "a.
Evening star., 1962-09-27
DINING OUT
Pity the Poor Diner
In These Spots

Sometimes we get downright
put out.
We come across q. nice little
restaurant = often it's q new
|one-end decide 1t has some-
thing we'd like the reader to
know about. It may be the
food. the decor. the service, q
bit of entertainment, or any
one Of several things which set
restaurants apart.
SO, we write about it.
Since the purpose of the col
umn Is not one primarily OF
evaluating a restaurant, but
simply to acquaint the reader
with the fact that it exists
land let him make up his owr
mind about its merits) we fig
ure that If later on 1t slips
it's the owners tough luck.
Not so.
When they slip we feel badly
We also feel cheated.
OF late we've noticed a num-
Der Of dining-out spots slipping
The reasons. we think, are MOI
really important. The fact Il
that some Of them are. Tit
most notable reason, however
seems to be overconfidencC
based on the areas general
restaurant boom.
One spot in particular come.
to mind.
Located in an outlying area
Evening star., 1962-09-27
By JOHN N. RossoN

we originally thought Of 1t and
described 1t for the reader as
a charmer with good food and
good service. And so it was.
But as we do periodically at
many Of the places we've writ
ten about. we sneaked back in
recently to see how things we're
going.
And what did we find2
The bar had taken over. The
dining room had been relegated
to second place. The drinkers
were loud-almost unruly-and
the service poor. The food,
originally served piping hot.
was all but cold. Even cold it
had little flavor. The men were
admitted without ties or coats,
To top it off. the prices had
gone up.
In our opinion. the answer
in this case was money. Some
times there's more money in
liquor than In food.
The dining room clientele. Of
course. has fallen off tremen-
dously and the spot as Of now
Evening star., 1962-09-27

is little more than a neighbor-
hood pub.
The owner hardly knows
what's hit him. He apparently
thought business would be good
no matter what he did.
At one midtown spot. known
for years as q fine dining-out
locale-and in fact the holder
of a national reputation -
there Is q collection Of walters
we wouldn't wish on anyone
They argue with the maitre de
and among themselves in tones
for all to hear, to say nothing
of their impudence toward the
customer. {
At another spot, one which
some patrons think Of as
smart. and which We visited
this week. the Ills" outnumbel
the goods:
Someone's pooch - we sup.
pose it's the owners-wandereC
from the kitchen into the din.
ing room. from the dining room
into the foyer and back into thu
kitchen.
Evening star., 1962-09-27

(s115) or snails (s2.oO). beef
stew burgundy (s4.00), chicken
a Ia king ($3s5) or q strloin
steak Cs7.Oo). All drinks are
81 1.50. 50 the minimum is hard
ly ever q problem.
. -
OPENING-The Uniquecorn,
q brand-new satirical revue
win open next Tuesday night
at 9 new restaurant, the Pub
lick House. at the same old ad-
dress. 3125 M street. This date
represents a postponement
from the original one set, 6
week used to insert several new
numbers, including ones about
Cuba, the Berlin Wall and
Washington society. After g
year and a half of experiment.
ing, the Uniquecorn company
has decided to 60 all political
concentrating on the local and
international scene. The White
House and its occupants nat
Evening star., 1962-09-27

urally viii be given consider
able attention.
The Uniquecorn cast. as al
ready noted, is down to three
with Sally-Jane Heit's move
across the street as q soloist.
Back next Tuesday night win
be Jean Anne. Bill Hotter and
Arch Lustberg, who also func-
tons as director. Back also win
be Bob Vigoda, the pianist with
q marked affinity for Unique
corn activities. A number Of
writer's have provided songs
and sketches for the new show.
with c. d. B. Bryan again q
major contributor. Others in
clude Shirley Grossman. Jean
Anne, Mr.. Vigoda, Gwen Glib
son and her husband, Sidney
Schwartz.
The revue win be staged at
10 pm. Tuesday through Friday
and at $3.50 and 10:45 pm. on
Saturdays.
Evening star., 1962-09-27
BY HARRY MACARTHUR

second one-voman show at the
Rive Gauche. Her personal
writing staff (Shirley Gross
man, music and lyrics, and
Doris Adler sketches) have
come up with some winning
new material and some Of the
best items from her first show
have been retained. It's q
quickly paced frolic that is
funny Just about from start to
finish, which is as funny as
anyone has to be.
Miss Heit voices a penetrat-
ing thought in a paen to the
fitness program-"The family
that lifts weights together
keeps all so States together. "
She has a fine new sketch
about a government girl and
the truly idle thoughts she has
while tipping letters indicating
complete disaster is about to
befall the country. And in a
beatnik number she comes up
with another immortal line
There is hay in the box car
Of my heart"
Among the repeats are that
effective change Of pace
Warm Hearted Dame" num-
Der and the hilarious imper-
sonation of a dedicated folk
singer. Also back. it is a pleas
ure to report, is the beauty
contestant who steps up to the
microphone and declares, Nah
tao-lent is coo-kin'."
Sally-Jane. performs it all
with her accustomed ebullience,
Tuesday through Saturday
nights.
Miss Heit, Of course, Is not
available to those with limited
budgets. There's a SO per per-
son minimum charge three
nights, upped to $3.50 on Fri
day and Saturday nights.
There's a limited food menu in.
this upstairs room, but you can
get such things as onion soup
Evening star., 1962-09-27

We have yet TO be served q
glass Of water.
The waitress had q three
minute conversation with q
friend while holding our cock
tail in her hot little hand. CThe
three-minute period is correct.
We timed herr
The shrimp was only half
done.
The catsup for the French
fries was put on the table In
the bottle.
The rolls were cold. CThere
never had been an attempt to
heat them.)
We've said it several times In
the column, and we feel It's
still true: The dining -out busi-
ness in the Washington area IS
booming. Witness all the, new
places, many Of them proving
a financial success. But it viii
take more than q boom to keep
such places as those described
above in the running.
Evening star., 1962-09-27
BY sHEILAH GRAHAM

Rampage" All the jungle Sc
quences-with Robert Mitchum
and Jack Hawkins starred, will
be shot in Hawaii.
Elvis Presley says he was a
prisoner in his penthouse when
filming Take Me to the Fair, y
in Seattle. There were police
downstairs and upstairs and
even on the fire escapes in the
hotel, to protect Elvis from his
admirers. Elvis has q home In
Beverly Hills. but he likes living
best in Tennessee where no one
bothers him. And add, darling
I am growing older. Elvis will
be 2s In January. How did he
manage to remain q bachelor
I'll tell you. Colonel Parker,
who handles his career so ex-
pertly, has been against matri-
mony for the wiggly one.
Evening star., 1962-09-27
HOLLYWOOD
Liz to Do Movie
Without Burton

HOLLYWOOD (NANA). -
Elizabeth Taylor will star in
'I Love Louisa" only If Rich
ard Burton is not one Of the
five leading menl Apparently
Elizabeth now realizes she can
not break up Burton's mar
riage to Sybil, which is what
Richard said all alon G.
Louisa, ,"'as Of now, is sched-
uled to be made here in Holly
wood next spring. Burton's
next movie, Beckett" will be
made in England and France,
Funny thing, when / dis
cussed Beckett" with Burton
in Rome, and asked him which
part he would play = Beckett
the saint, or the king - Rich
ard grinned and said, We'll,
old girl. I hardly think I should
play q saint" Wonder who
changed his mindl Pete +
O'TOOle, who is even more vig-
orous than Burton. is a larger
man, and should be good in
the part Of the King.
= = =
The Walter Matthaus expect
the baby in December. Walter
recently completed his role in
Morton Da COsta's movie. Not
on Your Life" Another
movie for Morton, after his
play Hot Spot" and a possible
musical version Of "Dods-
WORTH" has the intriguing
title, "And Presumed Dead"
There's a role in it for Tony
Randall.
OIeg Cassini whipped up a
lady tiger-hunting outfit for
Elsa Martinelli to wear in
Evening star., 1962-09-27
AFTER DARK.
Someone Always
SpoiIs the Fun

When sally-Jane Heit first
opened as a solo artist in that
small cocktail lounge above the
Rive Gauche one Of the walls
was decorated with a large pas
toral mural. It was an innocent
scene. depicting four or five
girls disporting themselves in
the buff IN q country stream
or lake. It was much admired
and some art connoisseurs
known to this department used
70 while away the time think
ing UP captions TO match the
varied poses.
They did, that is, until some
one came up with which Wise
Guy Left the Soap on the
Rock?" After that the art low
ers just sat around looking at
the picture and trying unsuc-
ceSsfully to top that one.
This innocent pastime no
longer is permitted, though.
The management, for reasons
best known to itself, has COW
cred up this panorama Of the
girls at their aquatic play. Fur
thermore, it has covered it up
with a mammoth picture of the
Cathedral Of Notre Dame in
Paris. Such a display Of piety
may be good, even in a night
club, but the management
should know that there are
some Of us who do not consider
this progress.
= = A&
Progress, however, is what
Miss Heit. our one-woman
cyclone. has made with her
Evening star., 1962-09-27

Progress, however, is what
Miss Heit. our one-woman
cyclone, has made with her
Evening star., 1962-08-30
BY MARY McGRORY
Star Staff Writer

Up at the Estes hearings
they have been discussing the
perfectibility Of human nature,
1t is an engroSsing subject,
one that has absorbed theolo-
gianS through the centuries,
even If slightly far afield from
cotton allotments and the
hanky-panky of Billie Sol Estes.
But the Senate Investigations
Subcommittee has been frus-
.trated in its search for culprits
at the Department Of Agricul-
ture and apparently finds some
satisfaction in at least estab-
fishing a record on the larger
and more enduring issues that
have faced mankind since the
Garden of Eden.
Chairman Mcclellan and his
witness, Undersecretary of Ag-
riculture Charles S. Murphy
turned out to be fellow mem
bers of the "to-err-is- human"
school Of thought today.
Agriculture Fraility
They were not, as it hap
.pened, discussing Billie Sol,
who has been more human
than anyone involved In the
whole case. They were talk
ing about the Department Of
Agriculture. which has Demon
strated q goodly amount Of
human fraility.