davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-28
Diana Cochrone Bows
At SuIgrove Dinner

Former United States Am
bassador and Mrs. James Gle
ment Dunn gave a debut din
ner dance last evening for
their granddaughter. Miss Di-
ana Armour Cochrane, at the
Sulgrave Club.
This debutante is the
daughter of Mrs. Charles
Wheeler Thayer and she re-
ceived with Mr.. and Mrs.
Thayer.
Miss Cochrane wore a ball
gown of white satin fashioned
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-28

with a boat neckline. The en-
tire lower portion of the skirt
was embroidered with lace
and pearls.
Mrs. Thayer chose a dress
of pale blue brocade.
Sidney and his orchestra
played for the dancing and
the decorations were in
green's and reds carrying out
the Christmas theme.
Miss Cochrane is a graduate
of Madeira School and is now
attending Vassar College.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-28

Bureau of Public Roads and
has also served as State Road
Commissioner of Utah.
The wedding will be solem-
nized February IA in the Lo-
gan, Utah, Temple of the
Church of Jesus Christ OF
Latter Day Saints.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-28
Buffet Set

Mrs. F. c. McCord will be
hostess to the Scottish Ter
rier Club at her home in
Chevy Chase on January 4 at
7:30pm.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-28

Gilbertson, daughter of Mr..
and Mrs. Larry Dixon Gill
bertson; Miss Joan Churchill
Hunter, daughter of Mr.. and
Mrs. William James Doherty
Hunter; Miss Joan Elizabeth
Berkey, daughter of Mr.. and
Mrs. James Henry Berkey,
and finally Miss Susan Edith
Hanley, daughter of Capt. and
Mrs. Michael Joseph Hanley,
Jr.
Miss Roberts, one of last
nights bellies, also bowed at
a dinner given by her par
ents Wednesday night at the
club.
On the earlier occasion the
debutante wore a short red
silk dress and carried a nose
gay of red roses.
AT Wednesdays party her
mother wore a black silk cock
tail dress. Miss Roberts is a
graduate of WaShington-Lee
High School, where she was a
member of the National Hon.
or Society. She now is attend
ing the University of Okla
homa, where she is pledged
to Kappa Kappa Gamma.
After the presentation last
night the debutantes and
their escorts took part in a
figure under the direction of
Mr.. Joshua T. Cockey. After
wards the first dance was re-
served for the debutantes and
their escorts.
Traditional Greens
For the event the club was
festooned with garlands of
traditional Christmas greens.
There were red roses, pink
carnations and Oregon holly
arranged in large antiqued
compotes on the tables in the
dining room.
Red satin balls and spruce
tied with large red satin bows
decked the doors of the ball.
room. The two fireplace man
tells held small rattan trees
decorated with California no.
BILE fir and gold roses high
lighted with small crystal
lights.
Just before midnight a buff
fet supper of ham, turkey,
shrimp and hot crab was
served.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-28

Miss Sondro AIzene LABEL, daughter Of Mr..
and Mrs. OIdrc Joseph LoBeII, wos presented
to society Wednesday at teo dance and later
at q dance given by her parents at their Foir-
fox, w. residence. For her debut, Miss LABEL
chose q dress of Caribbean blue toffeto.-
Harris & Ewing Photo
Evening star., 1962-09-12
4 Insurance Markets
Cited at Meeting

A top insurance official to-
day challenged the industry's
advertising fraternity to reach
four markets still offering sales
possibilities.
Charles j. Zimmerman. pres
ident Of Connecticut Mutual
Life, said the four markets are
persons in the As to 64 age group,
women. present policyholders
and parents who want to qua
rantee funds for their chill
dren's education.
He spoke at the annual meet
ing of the Life Insurance Ad-
vertisers Association. which will
continue through Friday at the
Mayflower Hotel. More thar
400 are attending.
Women now number 35 pei
cent of the work force and then
income needs to be protected
with life insurance" he de-
clared. He said many older per-
sons also seek insurance fol
bequestS or retirement income
and should be approached.
Claude M. Blair, vice pres
ident of the American Tele.
phone & Telegraph Co., dis.
cussed the Telstar communica
tions program today. Kenneth
L. Anderson, executive vict
president. Research & Review
Evening star., 1962-09-12
CHICAGO
LIVESTOCK

CHICAGO, Sept. 10 (AP) CUsDA).-
Hogs, $500; moderately active, butchers
25 to mostly so lower; sows fully %
lower: fair shipping demand; mixed
1-3 10000 ID butchers 9.Oo;I Q 80;
u 19.0O-19. 25; 1-2 l70-190 lbs 1890
I7;50-IS.25; 35O-4o0 lbs 16.75:17,50;
2-3 400-450 lbs 16.2516.75: 450-500
lbs 15.75-16.25: 500-650 lbs l4.75-
1900: boars over 13.50-14.50.
Cattle, $4,000; calves, none; slaugh-
ter steers grading average prime to
high prime 1880 lbs and up steady to
strong; other weights and grades steady
to fully so lower with sizable number
under LOO lbs still in first hand .
heifers fairly active, steady to 25
lower. instances 80 lower on weights
under 900 lbs: cows and bulls steady
vealers fully steady; better than
a half dozen loads average to high
prime 1.250-1,325 ID steers 33.50-
"a 90; bulk high choice and prime
1,150-l $50 lbs 30.50-33.00; choice
1,100-1 $50 lbs 2S.50-31. 90; COM
parable grade 900-l,10Q lbs 1880
1850: good 25.50-2S. 90: load standard
1,050 lbs 24.00; couple loads mixed
choice and prime S75-950 ID heifers
2S.75: bulk choice 26.00-2S.50; good
"a. 50-26.00; utility and commercial
cows 15.00-17. 90; Gamers and cutters
l3. .50-l6.25: utility and commercial
bulls l9.0O-21 90: few good to prime
vealers 25.0O-3O.0O: several loads
choice $4,000 ID feeding steers
/ 2550-27 80
Evening star., 1962-09-12
First Virginia Plans
To EouoIize Common

Stockholders of the First Vir-
ginia Corp. will vote October 9
on a proposal to reclassify au-
thorized and outstanding Class
A and B stock into fully vot-
ing common stock.
The two classes are now equal
except in voting rights. The
amendment would equalize this
so that the corporation would
have outstanding only common
stock with no preferences
among holders. The directors
have unanimously recommended
the proposal.
The meeting will begin at 10
am. at the First Virginia Of
fices, 1924 Columbia pike, Ar
,ington.
First Virginia. a bank hold
ing company. has 5 million
shares of Glass A stock au-
.horized and is million OF
Class B. Under the proposal.
It would have SIS million of
common authorized and 1885,
$50 shares outstanding.
Holders of Glass A now have
certain rights. such as electing
20 per cent Of each class of
directors and voting on amend
ments affecting their rights.
with all other voting rights
vested in Glass B holders. Ed
win T. Holland. board chair
man, said the result is that
now Class A holders have less
votes although their equity in
terest is greater. The proposal
would eliminate this difference.
Evening star., 1962-09-12
British Check
Sterling Drain

LONDON, Sept. IL (AP). -
The Bank of England reported
today an upsurge in Britain's
economy since the crisis Of a
year ago, but warned of long
term dangers in the Nations
slow rate Of expansion.
The banks quarterly review
took stock of economic prog
ress since the treasury imposed
an emergency credit squeeze in
July, 1861.
In the ensuing period, the
bank said foreign exchange re-
serves have mounted, the drain
on funds has been checked and
international confidence in
sterling has been restored. An
increase in exports has trans
formed the balance of trade
deficit to a surplus, the review
said.
The 1861 credit squeeze, with
its accompanying wage hold
down, brought the government
severe troubles on the domestic
political front.
The bank said another re-
suit Of the squeeze was that
industrial output grew very lit
tie during the year. More
serious for the future, the
statement continued, were in
dications of a tapering off in
investment.
The bank recommended gov
ernment measures to stimulate
the country's economy if indus
trial output failed to rise more
sharply.
Evening star., 1962-09-12
By CHARLES YARsRoUcH

ington showing of the new
Beechcraft Musketeer.
Admission is 81 for adults;
so cents for children.
The Federal Aviation Agen-
cy's vast job of maintaining
vigilant checks on air naviga-
ton aids will start getting big
ger by the month starting in
a few days.
The FAA flies $4,000 hours
a year to flight-check the var
ious radio and electronic
ground aids to help keep planes
on the right roads"
Starting this month, the
FAA will take over the job of
flight checking Air Force nav
igation aids. The program will
be implemented in Alaska this
month; spread to the Southern
and Southwestern United States
next month; cover the Nation
by January /; extend to Eu-
rope and the Middle East April
l and the Far East June l.
The Air Force will transfer
Is planes to FAA and detail
100 men to FAA for nine
months temporary duty.
A four-day display Of a
National AerOnautics and
Space Administration exhibit
will be presented at the North
ern Piedmont Electric Cooper
ative grounds in CuIpeper Sep
tember 27-30.
The exhibit is sponsored by
the Culpeper Kiwanis Club as
its contribution to Kiwanis In
ternational Kids Day project
and will feature space and mis-
Sile showings from the Armed
Forces.
4
George P. Bates, veteran
government aeronautical engi-
neer, has been named deputy
director of the FAA's Aircraft
Development Service.
He comes from NASA's Of
flee of Advanced Research and
Technology, where he managed
a wide range of flight research
programs.
4 = 4
Piper is announcing a new
version of the Cherokee b,
powered with a 180-horsepower
engine with a top speed of $50
miles an hour tn e
Washington Air Derby AssOcia-
tiOn is planning a Poconos
weekend flight October ST.
and advance reservations are
necessary Oleg Cassini
Evening star., 1962-09-12
RCA to Retuin
Whirlpool Stock

NEW YORK. Sept. IL (AP).
Radio Corp. of America
confirmed today that it has
dropped plans to sell one mil
lion common shares of the
Whirlpool Corp.
A spokesman said the de-
cline in market prices prompted
the move. The stock was SELL
ing at $33 a share last April
when the plans were an
nounced. 1t closed yesterday at
S27.62 but had risen to $28.37
early today.
RCA would have kept
158,563 Whirlpool shares after
the offering, reducing its in
terest from 1876 per cent to
2.5 per cent.
Evening star., 1962-09-12
TALKING OF BUSINESS
Federal Reserve Board Watches
Holding Company Role in Virginia

owners. Country bankers using
correspondent banks in cities,
they add. can also handle big
loans and sophisticate d
services.
Further, the critics point at
the House Banking Committee
Report preceding the 1856 Act,
which declares "Our national
banking policy has aimed at
protecting and fostering tn e
growth Of independent unit
banks"
The Federal Reserve Board
is not expected to rule on the
United Virginia Bankshares ap-
plication until next month. But
based on its recent decision,
no one is a ming the ap-
proval will be automatic.
Evening star., 1962-09-12

I implies, are smaller offices OF
a single bank, closely super
vised and controlled by it. A
holding company does not
directly operate banks but con-
trolls them, often at distance,
through stock ownership.
Alarmed by abuses in other
types of holding companies,
some Congressman began try
ing to pass tougher laws on
bank holding concerns during
the Depression. President
Roosevelt in 1888 urged law
makers to block them from
acquiring any more banks.
But bills repeatedly died in
committee until 1856, when the
Act brought new controls. 1T
is not the committees inten-
ton that bank holding COM
panies are evil of themselves, I"
reported the Senate Banking
Committee. But it urged safe
guards to prevent undue con-
centration of control" in bank
ing.
Weighs Community Needs
Today the Federal Reserve
Board rules on the creation of
any new bank holding COM
panies, on acquisition of more
banks by these companies, and
also considers the needs of the
community they serve.
Right now an application is
pending before the Fed to Gre
ate United Virginia Bank
shares, which proposes to gain
control of six banks in that
state with assets exceeding
$416 million.
Its hackers have marshalled
a number of arguments to JUS
tify the proposal. Virginia's
banks. they say, have not
kept pace with its population
and are splintered into many
small units. Though the State
ranks 18th highest in total !
banking resources, there are 35
other States with at least one
larger bank.
As an example, they point
out, an industry can get a IS
million loan from a single bank
in any of 80 cities in North
Carolina, but only 81 million
from either of the two biggest
Virginia banks, located in
Richmond.
AS a result. they claim, big
borrowers in Virginia are 60
ing south of the border where
banking is centralized into a
few large institutions.
Could Pool Loans
Through holding companies,
proponents argue Virginia
banks could pool big loans and
also offer more sophisticated
srevices. National industries.
accustomed to computer service
in New York and Cleveland
banks, would be able to use a
central computer system that
a holding company could afford.
They point out that larg e
Virginia firms such as Newport
News Shipbuilding Co. and Dan
River Mills supplement their
local banking services now with
dealings at New York banks.
It's this kind of business the
local holding company is
equipped to tackle, proponents
say.
The critics of holding COM
panies chiefly object that the
latter don't care about a local
community. and are absentee
Evening star., 1962-09-12
BY TRUMAN TEMPLE
Star Staff Writer

The Federal Reserve Boards
decision a few days ago to
block a holding company from
taking control of a Winchester
Va. bank has spotlighted a con-
flict in that state.
On one side is what Federal
lawmakers term the historical
urge to keep local banks in
dependent. On the other is
Virginia's INSTRUMENTATION" of
b anking resources, in the
phrase of some bankers there.
To cope with its shift since
World War II from a farming
economy to urban manufactur-
ing, declare these Old Domin-
ion financiers, Virginia needs
bigger banks and the diverse
services offered by group
banking.
Yet the Feds Board of Gov
ernors is faced with a clear
directive from Congress to keep
a check on bigness and
preserve competition in bank
ing.
Curious Problems
Officials of the bank holding
companies admit for their part
they're up against some curious
public relations problems. The
man in the street is vague
about such institutions, to be-
gin with. Americas least
known type of bank organiza-
ton" is the way two New York
University professors described
bank holding companies in a
1859 study of them. Many a
layman Jumps them in with
Samuel insults pyramid of
utilities that attracted such
notoriety 80 years ago.
What is a bank holding
company? What do its sup
porters claim are its virtues,
and why have some critics,
such as the Independent Bank
ers Association, spent years
attacking it?
The Bank Holding Company
Act of 1856 basically defines
it as any company controlling
Is per cent or more Of the
voting shares of two or more
banks, or controls election of
q majority on their boards.
Although the first bank
holding company dates back to
1900 when the Adam Hannah
Co. of Minnesota was launched,
these institutions saw their
biggest growth in 1929 when
most states prohibited branch
banking or restricted it to
sites near a banks headquar-
ters. Holding companies Of
fered a different way to ex-
pand.
Branch banks, as the name
Evening star., 1962-09-12
ON WINGS
The No-ShoWs'
Are Showing

The dollar-enforced cam
paign against the airliners'
"no-shows" and "over-sales"
has started to show some re-
suits.
The plan, instituted May /
by IL trunkline carriers, has al
ready been called "eminently
successful" by one airline.
1t provides a penalty rang
ing from a minimum of IS to
a maximum of $40 depending
on the ticket price, against the
passenger who makes a reSer-
vation and fails to show up.
1t levies the same penalty
against an airline which con-
firms a reservation and then
fails to have the space when
the customer appears.
Figures headed from tn e
Civil Aeronautics Board staff
to the Board itself show that
no-shows dropped from 9.8 per
cent in April, the month before
the plan started, to So per
cent in July.
Broken down to a more
meaningful figure, American
Airlines' statistics say the no
shows dropped from 3,344 in
April to 2,284 in July, despite
a substantial increase in pas
sengers boarded in selected
cities-42,424 in July compared
to SO, ,733 in April.
But one thing the airlines
aren't happy about is an in
crease in the over-sales - a
statistic that might be ex-
planned, at least in part,
by the new pressure put on
carriers by the Eastern Air
Lines strike.
In May, the number of pas
oCAAbCAo VI z II z VI bOdl oAllBo
because of the lack of con-
firmed space totaled 1882. In
June it moved up to 1851;
sagged slightly to 1,476 during
July.
That fast-disappearing spec
tacle, the Air Show, makes a
big comeback this Sunday at
the Montgomery County Air
park near Gaithersburg, with
two hours Of flying, aerobatics
and sky-diving.
The show, scheduled for two
hours beginning at / pm, is
being presented by the
Gaithersburg Volunteer Fire
Department in conjunction
with Free State Aviation,
which operates the airport.
1t will mark the first Wash
Evening star., 1962-09-12
Navy Fuse Contract
Awarded to MeIpor

Melpar, Inc. of Falls Church
has been awarded a $439, ,788
contract from the Bureau of
Weapons Naval Ordnance Lab
oratory at White Oak, Md, for
fabrication and engineering as
Sistance in developing a proxi-
nifty fuse.
The two-year program will be
headed by L. L. Bonham. with
fabrication under L. c. Wright.
Evening star., 1962-09-12
Drug Fair Reports
IT.526 Sales Gain

The Drug Fair chain today
reported sales in August to-
tailed S3,521,759, gaining more
than lis per cent from the
month last year. The chain
operated SO stores VS.. IS a
year ago.
Total sales the first eight
months were $27,616,I98 or 146
per cent above those for the
like period last wear.
Evening star., 1962-09-12
CuIorie Counters
In the Soup Soon

Metrecal, topic of Jokes and
a major source of Mead john
sons increase in earnings in
recent years, will make its
debut in a new form this
month.
The company said today
three Metrecal soups - cream
of tomato, clam chowder and
split pea-will be introduced
soon.
Each can of dietary soup, de-
signed to be a complete meal,
contains 225 calories.
Evening star., 1962-09-12
IL Million in u. S.
Are Stockholders

Seventeen million person
now own stock in the Nations
publicly-held corporations,
compared with 8.6 million in
1856, the National Industrial
Conference Board reported to-
day.
One of every six American
adults is now a stockholder
against one Of every IL six
years ago.
The NICB analysis also
showed:
OHalf of all stock is owned
by persons between ages of 35
and 81. But only Is per cent
in the 81 to "a age bracket
now own stock, compared to
more than Is per cent six
years ago.
0Woman shareholders still
outnumber men, but the men
are beginning to draw even.
Latest figures show 8.3 million
women, 8 million men and
450, 900 minors in the stock
market. The balance are in
the armed forces or live out
side the United States.
0Those with annual family
incomes of $500 or more now
own so per cent Of the Ma
tion's publicly-held stock, COM
pared with 36 per cent in 1856.
The rise is partly due to the
increased number Of persons
in this income bracket, an d
widening interest in the stock
market by people in the $7,500-
and-0ver pr0uD
Evening star., 1962-09-12
Printing Corp. Office

The Printing Corp. of Amer
lea. trade publication specialists,
today announced the opening
Of offices in the LaSalle Build
ing. Rex w. Crooke is the COM
pany's representative here. The
firms headquarters are in New
York.
Evening star., 1962-09-12

an increase of 43 per cent from
the month last year. The surge
was attributed by c. H. Wilson,
central area manager, to peak
vacation travel since June and
Limited service of competing
airline.
National added 152 extra sec
tions last month to accommo-
date the demand. System-wide,
it came close to a record set in
July when PAL, ,060 passengers
we're boarded. August board
ings totaled 238, ,998, an increase
Of so per cent over August. 1861.
j. j. DAWN, Washington
manager for United, said his
company had 71.226 passengers
beard at National and Friend
ship Airports in August, an
increase of 12,514 from the
total for August last year.
1T was only 624 short Of
United's record for any month,
established last June. Traffic
showed almost equal gains at
the two airports, with National
reporting a 21.8 per cent in
crease and Friendship 20.6 per
cent.
Traffic cargo for United in
creased by 57.2 per cent from
the month last year. 1t totaled
3.573,447 pounds for the two
airports, compared to 2,272,725
in August 1861. The biggest
rise was at Friendship where
It was 70.4 per cent above the
period last year. Nationals
volume was up by 47.3 per cent.
The passenger and freight
business here exceeded Nation
wide improvements for United
by q wide percentage margin.
The airline carried a total OF
l,224,580 passengers during the
month, up 7 per cent from the
period last year, and flew H.
423. 900 freight ton miles, up
q per cent. Express ton miles
were up Is per cent. totaling
1886. 900 and mali ton miles
rose by Z per cent to 4,828,000.
Evening star., 1962-09-12

is designing a new stewardess
uniform for National AirIines.
for the third straight year,
Braniff Airways will make cred
1T cards available to college
students.
Evening star., 1962-09-12

Directors Of Union Trust Co.
declared a regular quarterly
dividend of Sta cents per
common share yesterday. 1t is
payable October IS to holders
of record September %.
Evening star., 1962-09-12
Air Troffic Gains Here
Reported for August
By United National
THE EVENING STAR


Two major airlneS today reported heavy increases IN
traffic the Washington Area during August and
attributed the gain partly strike at Eastern Air Lines
United Lines said passenger traffic advanced
23 cent from the period last and set record
for the month.
Evening star., 1962-09-12

Service of America. told dele
gates there is a shortage Of
insurance agents and that by
1870 the Nation will need $4,000
more to cope with population
growth.
Evening star., 1962-09-12
TREASURY BONDS

NEW YORK (AP)-Noon over the coun-
ter u. S. Government Treasury bonds,
bid, asked, net change and yield for
Evening star., 1962-09-12
BUCKS OUT WITH NEW SPORTS COUPE

Buick Riviera offering things steering
which be adjusted fit the driver will shOwroOms here
October At present available the model with
console and 4Oubicnch engine hooked
Evening star., 1962-09-12
CHAIN STORE
SALES

1862 1851 chg,
ALDENS-
August ... lI.15,s77 1A.3s2,AAs+2I.s
months q2,23l,e23 s0.3SSo07 : IA &
BOND STORES
August 5,l61.737 A.37s,366+ so
DIANA STORES
August 6.2As,ss5 5.6s2,6s7 + los
GRAND UNION
3 W. Sep. l.. 5,5o3,275 5e,l606s3- 10
rs W. Sep. I. .304, ISL oil 3l2,s90, sos 2,e
HOWARD STORES
August -. 2.s5o,I72 2.s37,ou Is.3
9 months .. . 2e,333,2l6 25,l73,sI3 : II 4
INTERSTATE DEPARTMENT STORES
August -. l7,A7e,s3 13,30o Ola = Al 4
months loI ,e16,50e 80, ,OO6 ,233 ! ~ 4
NEWBERRY-
August 80. 25,Al6.6s3 2s,27o, ,sa0+ o.s
months .l76,56O,053 lSeA3S,A6l+ : II 4
W0OLWORTH-
August w eo,265,366 e6.36e, ,2ss+ "a
9 months E. 6S2, ,662, ,435 6l6,l5l,ll7+ So
Evening star., 1962-09-12
Union Trust Dividend

nd-OVer group.
, 1962-12-12
Virgin Islands
Telephone Corporation
IMPORTANT NOTICE
IMPORTANT NOTICE

The Corporation is pleased to odvise subscribers
thdt the new telephone directories for the dol system
to be inaugurdted in St. Thomds at midnight Saturday,
December 29. hove been received ud will be mdll-
ed to all subscribers within the next IS ddYs.
The directory contains the diul numbers Of sub
scribers in st. Thomds dnd ST. CroiX, however pledse
Thomds subscribers should be used ds from December
80 as the dol system in St. Croix will not be indugurdt-
ed until edrlY 1863. REMEMBER Pledse do not dttempt
to use the ST. Croix didl numbers until advised to do 50
by the Corporation.
In order to ensure fdst oversees didl service oil
ST. Thomds subscribers ore requested IN their own
and friends in Puerto Rico. Continental u. S. A.
and elsewhere of their new didl numbers dnd request
'hdt these numbers be used when culling them as from
December SO.