davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-06-22

Representative william E.
Miller, Republican Of New York,
the G. o. P. national chairman
who attended the meeting, has
denied that any such agreement
WIS reached.
last year." Mr.. Freeman
said. "the Republicans voted
unanimously to kill by recon-
nltting the emergency feed
grain program which is now on
the books, mk~s q.
This year every Republican
but one voted against the ad-
n1nistration's bill to bring order
and common sense into agricul.
tufe, thus forcing the farmers
back on the same Benson pro.
gram which cost them 81 to 81
billion a year in net farm in
come during Mr.. Benson's eight
years in office. That Is The
effect Of the House vote yes
tefday."
Mr.. Albert contended that
the Republican opposition
wotlld probably make us &c
back to the 1858 Benson farm
Program which obligates the
Government at tremendous cost
toebuy up every bushel of grain
that cannot be disposed Of"
Mr.. Albert conceded that "a
Democrats, including a dozen
frpm Northern States, voted
with the Republicans last night.
ne said several Of those Demo-
cratic losses could be attrib-
uted to factors other than OPP
position to the administrations
overall farm. program. He de-
clared. however, that the aid of
Democratic votes did not re-
lieve the Republican Party of
responsibility to offer con-
structive proposals TO solve a
terrible surplus situation"
Predicted Close Vote
The Democratic leader re-
minded reporters that he had
predicted all along that the
final vote would be extremely
close. He disclosed that even
at the start of the roll call last
night he thought the bill would
WIN by about 10 votes. He in
dieated he was surprised when
a few Democrats I'VE thought
We could count on" voted to
kin the bill.
Mr. Halleck defended the
c. o. P. action and said his
party probably could have made
sAort-term gains eff we had
wanted political advantage ano
gone along with all the willy
nilly promises" in the Demo-
cratic measure.
''UnderstOod by Farmers"
at a joint news conference
with Senate Republican Leader
Drksen, however, he said the
Republican position was made
plain long ago and ''is un.
derstood thoroughly by the
farmers"
Mr. Halleck was the first Re.
publican leader to discuss the
unexpected defeat which left
the administration ard con-
greSsional Democratic leaders
trying to determine the mair
causes of the wreckage.
Mr.. Halleck said he saw q
possibility that Congress this
year might continue the pres
ert voluntary controls arrange
ments on wheat production.
He saw no chance of a re-
viyal of the House bill, even
though the Senate last month
passed a somewhat similar
measure by four-vote margin
Recalling that former Presi-
dent Eisenhower sent a Demo-
cratic : controlled Congress a
set of suggested guidelines'
for coping with the huge and
costly agricultural SURPRISES,
M. Halleck said the Democrats
refused to do anything about
it,,then.
The Democrats now have 6
majority of SO in the House. ,
he noted. IF I had a Republic
'T1+st-t
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-06-22
Few Believed Americans

The nationalities of the pas
sengers aboard the plane today
were not Immediately known,
put presumably few we're
Americans.
Guadeloupe is an overseas
department of France in the
.Leeward Islands, 300 miles
southeast of San Juan, Puerto
Rico, and 80 miles north of
Martinique. The area, which
produces chiefly sugar cane and
bananas, totals 687 square
miles. The population is about
PTS, 900.
The SIS million plane was
named the Chateau Chantilly.
The United States Coast
Guard at San Juan said the
wreckage was on a hillside at
an elevation of about 1900 feet.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-06-22
TW A
TWA
LoophoIes' in Pact
Hit by Neqotiotors

Continued From Page Al
ellis along with the president of
the Flight Engineers Interna-
tional Union, Ronald A. Brown,
who holds views similar to
their own. -"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-06-22
PLANE

Continued From Page Al
EST, the hour the plane was
due to land at Guadeloupe on
a flight from Santa Maria, the
Azores.
First word that the Air
France liner was in trouble
came at 6:19 am, EST, when
the Coast Guard received this
message: Distress, Air France
flight lit, BLOT, overdue :"
An all-ships distress signal
was flashed to naval vessels,
asking them to proceed to the
area. Two Coast Guard am
phibious planes and a patrol
boat were dispatched from San
Juan, Puerto Rico.
At z am. came word that
wreckage had been spotted. The
naval assistance call was can
celed, but Coast Guard planes
continued to sweep the area to
be sure there was no wreckage
at sea.
Guadeloupe is composed of two
islands, Basse Terre and Grande
Terre. The airfield is on Grande
Terre; the plane crashed on
Basse Terre.
Stopped at Lisbon
The plane had 10 crewmen
and 102 passengers aboard on
takeoff from Paris last night.
1t made a stop at Lisbon and
several passengers left and
others boarded.
The exact number aboard
when the plane left Lisbon was
not known Immediately.
Capt. LeSieur, one of Air
Frances most experienced
pilots, several times had flown
President Charles de Gaulle.
1t was the fifth crash involv-
ing a pasSenger-carrying Boe-
ing TOT in commercial service.
A TOT Of the Belgian air line
Saoena crashed February is,
1861, at Brussels, killing 70.
An American Air Lines crash
at New York last March l
killed SIS. A Continental Air
lines TOT with IS aboard dis
integrated and crashed near
Unlonville, Mo-, May Is. An
Air France charter, flying a
group of Atlantans home,
crashed at Paris June 3, kill
ing 100.
Evening star., 1962-05-03
PEpCOProfit
Rises Slightly
Above 1861

Net income Of the Potomac
Electric Power Co. amounted Ia
$4.3 million in the first three
months of this year, gaining &c
per cent from 4,189, 400 in the
same 1861 period, the company
announced today.
Operating revenues Of $24,-
045, ZOO were SD per cent ahead
of $22,716,5 500 a year earlier
Sales Of 1,243, ,456, 900 kilowatt-
hours were up 6.6 per cent.
For IL months ended March
81 net was $17,552,S00, up 81
per cent from $16,924, 500 in the
preceding year. Revenues OF
$97,753,300 were up 7.8 per
cent and sales Of 5,156, ,992, 900
kilowatt-hours were 81 per
cent above the preceding IL
months.
Gross additions to property
and plant in the first quarter
of this year approximated SOS
million and for IL months
totaled $40,423, 900. Investment
in property and plant totaled
$513, ,748,500 on March 81.
Evening star., 1962-05-03
Two Promoted
By Washington
SeVen-Up Firm

William E. Upton of Silver
Spring, Md, and Ralph D.
Funk Of Cheverly, Nd, have
been promoted to vice presi-
dents of Washington Seven-Up
Bottling Co., Inc, a division Of
Joyce Seven-Up Bottlers, Inc,
it was announced by President
John M. Joyce, jr.
Both men have been ident-
flied with Seven-Up operations
for many years.
The National Permanent
Savings & Loan Association
has promoted John E. Ryan, jr.,
to loan officer and Mrs. Faye
B. Murphy to assistant treas
urer, it was announced today.
John w. Stadtler, president,
noted that this brings the
total number Of women officers
of the association to three.
Evening star., 1962-05-03
BUSINESS
BRIEFS
Heavy Construction Contracts

Heavy CONSTRUCTION COntEacts
awarded in the first four
months totaled ST. billion, up
81 over the 1861 pace. The
April figure was SIT billion,
down go from March and TO
under April, 1961.-Engineering
News-Record.
Business Loans by Reserve
member banks in leading cities
declined $209 million in the
week ended April IS to 32.778,-
900 900, but were $1,043. 900, 900
higher than a year earlier
Federal Reserve Board.
Bank clearings in 26 leading
cities in the week ended
Wednesday rose to $33.733,-
639, 900, 1870 above the eight
week low Of $27 ,427, $50, 900
reached last week and 80
ahead Of the comparable 1861
week-Dun g. Bradstreet.
Dividends in April were In
creased by 72 companies VS.. 49
in the 1861 month. Extras were
up from 16 to %, assumptions
5 to 8; reductions down from
19 to Z and omissions 20 to 16.
Dun & BradStreet.
Drackett Co. of Cincinnati,
which markets household clean
ers. has purchased the O-Cedar
division of the Martini Marietta
Corp. for SOS million.
Evening star., 1962-05-03
CHICAGO
LIVESTOCK

CHICAGO, May 8 (AP) CUsDAD.-
Hogs, 1000. fairly active. butchers
steady to 25 higher: sows fully steady;
good shipping demand; mostly 1-2
l9O-22O ID butchers 16.0O-16.25; "a
head Ia around 210 lbs 1880; mixed
1-3 1sO-230 lbs 15.50-16. 90: numerous
sales 15.75-16.00; mixed 1-3 230-260
lbs l5.0O-1 so; 2-3 240-290 lbs IA 90
1925; mixed 1-3 330-450 ID sows
l3.OO-l4,OO; 2-3 450-65O lbs 1895
13 90; boars 11.50-12.50.
Cattle. 500; calves. none; fresh re.
ceipts mostly cows: few slaughter steers
and heifers; other classes scarce;
slaughter steers and heifers moderately
active and steady; cows active. steady
to strong; bulls steady; not enough
sales Of vealers TO establish 9 trend;
slsushter steers 25. 5.75.26.o0; mixed
good and choice 950-1. 200 lbs $500
%. rs: good 23.00-25.00; package good
/. 1.150. lb Holstein steers 23:00; pack:
ege choice $50 ID heifers 1915; good
22.25-24. 90; commercial cows 1880
II. so; utility 14.50-16.00; canners and
cutters 12.25-14.5O; utility and COM
merciar bulls Il. .00-19 so; good 1900
1000 lb fat bulls 14.50-16.00.
Evening star., 1962-05-03
Compromise Ends
N&W Hearing
BY the Associated Press

The Norfolk g. Western Rail-
way merger hearing came to a
halt yesterday but with the
possibility of a move by the
Justice Department to offer ad-
ditional evidence.
A compromise agreement
among the attorneys provides
that the Justice Department
may, within 20 days, submit
for consideration further EVIL
dence relating to a question OF
Pennsylvania Railway control.
Unless there is such a move
and it is approved by the In
terState Commerce Commission
the hearing record is closed on
the proposal by NEW to con-
solidate with the Nickel Plate
and Wabash Railroads.
Justice and the State of New
York earlier yesterday moved
that the proceedings. started
last October, be kept open pend
ing a decision on an application
by the Pennsylvania to be made
a party.
Evening star., 1962-05-03
Earnings

Du POnt in first quarter
earned $105, 5,042,S09 or $2.23 q
share VS.. $87,324,713 or $1.85
in 1861 period.
General Motors Acceptance
in first quarter earned $10,141,-
449 VS.. $15,741,671 in 1861
quarter.
Great Northern Paper in IL
weeks ended March 25 earned
1857, ,908 or 55 cents q share
VS.. $845,418 or 81 cents in 1861
period.
Mcdonnell Aircraft in 9
months ended March 81
earned $10,012,000 or $3.50 a
share VS.. $9,126.322 or sass in
1901 period.
Warner Bros. Pictures in 6
months ended March 8 earned
| $4,074, 900 or "a cents a share
VS.. $3,564,000 or 10 cents in
1960-l period.
Consolidated Foods in So
weeks ended March 10 earned
5,840,931 or $1.21 a share VS..
$5,189,892 or Sill in 1960-1
period.
Continental Baking In 13
weeks ended March 81 earned
$1,173,991 or so cents a share
VS.. $1,356,832 or SO cents in
1861 period.
RalstOn Purina in 6 months
ended March 81 earned $11,-
1863, 1865 or 86 cents a share VS..
$40, 500, $50 or 81 cents in 1850
81 period.
nk6ay. aoY.v,iy@re {,,nI.1SaJ.
Evening star., 1962-05-03

exchange for you to go
through"
1,7S7 Women Registered
Today more than So per cent
of all the shareholders in the
United States are women, and
the margin by which we top
the percentage Of men share
holders is climbing steadily
Women are buying and selling
billions of dollars of stocks a
year on their own now, are
studying the stock market as
never before, are investors in
fact as well as in name.
Today, 1,787 women are reg
istered representatives of NYSE
member firms, compared with
704 in 1855. These women mus
pass the same exams as mer
representatives, live up to the
identical standards and com.
pete on an equal basis for you
stock account. But they cant
go to the NYSE floor where the
orders they place are executed
without special dispensatior
from on high.
Today, As women are genera
partners of NYSE firms, almost
double the number in 1910, ane
282 are limited partners against
Is in 1910. These women are
subject to all the duties, re.
sponsibilities and disciplines o
the NYSE.
1T makes no sense, but it,
protocol and please don't brine
it up," said the VP. 81 know
you wouldn't want to embar'
rass U.s."
Distributed 1862, BY the Hall
syndicste,Inc. All Rights Reserved)
Evening star., 1962-05-03
YOUR
MONEYS WORTH
No Women Allowed

Last week an executive visit
ing New York asked me to
guide him around the floor
Of the New York Stock Ex-
change so he could see a mob
scene, portrayed countless times
in photographs and movies,
come to life.
He got on the floor, but I
didn't. I was barred at the
entrance to the spacious hall in
the IL Wall Street Building
where trading is carried on and
was led to a public gallery
crowded with children out Of
school for Easter holiday and
doing the Wall Street sight
seeing bit with their harried
mothers. While he was CALAMITY
escorted through the mob on
the floor by a Stock Exchange
employe I hastily corralled,
watched from a balcony and
scribbled notes for a story
didn't expect to stumble into at
this stage Of Wall Streets his
tory.
Why was I barred? Because
I'm q female, that's why.
It's Tradition
But If there's no constitu-
tional provision or rule or regu-
lation against women visiting
the floor. why was I kept Off"
asked a NYSE vice president
after my friend had left.
Its tradition" said he in
a voice interlarded with acute
discomfort. "It shouldn't have
happened to you, though. II
I'd been here, I would have OBJ
tained the permission Of the
chairman Of the board Of the
Evening star., 1962-05-03

two offices in Rockville. Stock
holders and regulatory authoF-
tiles must approve.
Already up for approval is a
proposed merger of the First
National Bank of Baltimore
with the Farmers Banking g.
Trust Co., which has offices in
Rockville, Kensington. Twin
brook. PooleSville and Gathers
burg. This would combine
nearly 1891 million Of deposits,
Firmly entrenched in both
Montgomery County and Prince
Georges County is the Suburban
Trust Co. with around $500
million Of deposits and %
offices blanketing the area.
A proposed merger with the
Citizens Bank of Takoma Park,
also now awaiting approval Of
the regulatory authorities.
would add another SIC million
to Suburban'S deposits and
three offices. There are many
other smaller but aggressive
banks in the two counties.
Plan Exchange Of Stock
The proposed merger of
Maryland National and Mont
gomery County National was
approved last night by the di-
rectors, and also must be ap-
proved by the stockholders Of
both banks and the Controller
Of the Currency.
Under the agreement Mary
land National Bank would is
sue $4,000 shares of stock in
exchange for $4,000 outStand-
ing shares of Montgomery
County National on the basis
of two shares for each share
Of the Rockville institution, it
Evening star., 1962-05-03

tempted the experiment, with
teen-agers, and officials showed
some apprehension at the out
set.
The air quickly cleared as
the session got under way,
however. Questions from the
floor were polite, direct, and
suggested good deal of advance
Evening star., 1962-05-03
Ridge Heads
Underwriters
In Capital

Frank Ridge, Washington
agent for Mutual Benefit Life
Insurance Co. of Newark. N. j.,
was elected president of the
District Life Underwriters As
sociation at a Presidential
Arms luncheon today.
Mr.. Ridge, a chartered life
underwater. has been first vice
president of the association
and succeeds Quentin c. Aan-
enson, CLU, and Washington
office manager for Mutual Life
of New York.
Other new association Off
GERS are Paul E. Gibson, branch
manager for Sun Life of Can
ada, first vice president, and
George w. Graves, jr., general
agent for New England Life,
second vice president.
Mr.. Ridge is a life and quail
flying member of the Million
Dollar Round Table and a di-
rector of the Washington Chap
ter, American Society Of Char
tered Life Underwriters. He has
lectured at George Washington
University and Georgetown
University Law Schools.
He also is treasurer Of the
Arlington Council on Human
Relations and chairman of the
special gifts committee of the
Arlington-Fairfax Jewish Cen
ter. He active in the Wash
ington Metropolitan Board Of
Trade and the Capitol Hill
Club.
Elected for three-year terms
as directors were Leslie H,
Jackson, general agent of Ma
tional Life of Vermont; Ken
meth E. Mahan, general agent
Of Equitable Life Of Iowa, and
Joseph s. Hurley. agent for
Sun Life of Canada.
Evening star., 1962-05-03
Taking OF BUSINESS
Cos Company to Hold Rote Line,
High School Stockholders Hear
BY TRUMAN r. TEMPLE
Star stan Writer

4
The washington Gas Light
Co. plans to hold the line on
its rates, and expects earnings
in 1862 viii equal last years
$l.S1 per share, President DON
aid S. Bittinger said yesterday
The president made the fore
cast in response to questions
from teen-agers at a special
annual meeting of Junior
Stockholders" a group Of Al
students from area high
schools.
I'VE believe the spiral in. in
creaSing costs Of natural gas
in the last 20 years may have
reached a plateau. At least it
won't rise at the rate it has,"
he declared. I'VE do not an
ticipate any increase in gas
rates at this time" In fact,
he noted, one ''interruptible
rate" was recently cut in price.
President Answers Queries
Mr.. Bittinger, flanked by six
company officers, fielded most
of the questions from the stu
dents himself. He called upon
Otis II. Ritenour, senior vice
president. at a couple of points,
however, when the youthful
stockholders plunged into the
subject Of working capital and
equities versus debt financing.
Yesterdays meeting, held at
the company auditorium in its
downtown building, HOO H
street NV, was a sequel to
the regular stockholders meet
ing in February. It was the
first time the utility had at
Evening star., 1962-05-03
Tournament Planned

The Washington Chapter of
the American Institute of
Banking will hold its annual
golf tournament at the PEPCO
Recreation Center, between
Dranesville and Leesburg, Va,
on Saturday. Wallace Acton
of the Riggs National Bank is
chairman.
Evening star., 1962-05-03
DC. Banks Avoid Race
For Long-Term Bonds

Washington banks apparently
have avoided a Nationwide
race of commercial banks to
purchase longer-term Govern
ment bonds and tax-exempt
municipals.
This was indicated today by
a survey of leading bankers
here, who said consumer loans
and selected mortgage loans
were providing adequate outlets
in most cases-for new savings
deposits attracted by higher
interest rates which started
January /.
Washington's largest bank;
reported average maturitieS ol
Government bonds were shorter
than a year ago, with virtually
no change in their holdings Of
tax-exemptS.
hural Banks Involved
Large banks in other cities
and also many country banks
have scrambled for the longer
term, higher-yield Federal is
sues and the tax exempts only
to bid the prices up to a point
where yields have been cut SUBJ
stantially.
There now is growing concern
that many banks have beer
unwise to change policies to
meet the cost of higher rates
for savings accounts.
At a recent nearby conference
attended by many small town
and country bankers, the prob
lem Of longer term maturities
was given major attention.
Evening star., 1962-05-03

/ The Philadelphia Federal Re,
serve Bank also has criticized
the change in bank investment
policies.
If pressure for loans is rela'
lively mild, as many bankers
have forecast, then the gamble
of buying longer-term securitie.
should pay off we'll. but the
Philadelphia bank cautions that
forecasters sometimes are
wrong.
1t adds that If demand for
loans does turn up sharply
then banks could be forced to
take big losses in selling long
term bonds to raise cash for
loans.
! The Philadelphia Federal Re-
serve is concerned that the
problem might become acute.
Since the end Of last Novem-
ber. the big city banks that
report each week have bought
more than 50 billion worth of
municipal bonds, many with
maturities up to 20 years, and
more than $500 million Of Fed
eral bonds maturing in more
than five years.
However, in spite Of this rise
in holdings of longer terms
bank holdings of long-term
governments. which can be
converted readily into cash, are
higher in relation to total de-
posits than at any time since
early 1854.
While little change is reported
in average maturities of Wash
ington banks, holdings of Fed.
eral obligations have gone uT
sharply here since the first o.
the year.
The total for II Washington
banks stood at $543,564, 900 OF
March 26, date Of the sprinl
bank call, compared with $685.
$4,000 at the end Of 1861 anC
$50l ,661 900 on April IL las
year.
Holdings Up Sharply
The Federal Reserve Banl
Of Richmond reported yester
day that Federal securitie
holdings Of Washington's threl
largest banks totaled $417,740,
900 on April Is VS.. $416,949, 90
a week earlier and $38O,519, 90
, on December 81, 1861. In
! cluded were Riggs Nationa
American Security and Ma
! tional Bank Of Washington.
The three banks time de
posits stood at $342, ,39o, 900 O
s April Is VS.. $342. .099. 900 a wee
earlier and 1907, ,007 900 on De
cember ~. Demand deposit
: amounted to 1888, s,682. 900 "
3 $914,219.000 a week earlier an
! $9l1, ,722,000 on December 81.
"a 1t is interesting that some {
9 the increase in time deposit
s resulting from higher rates O
z savings has been offset by
y decline in demand deposits hel
!; since December 81.
Evening star., 1962-05-03
METALS

NEW YORK. May (AP) Spot
non-ferrous metal prices today: Copper
Lead 9h cents q pound, New York.
Zinc 11h cents pound, East st.
Louis. Tin 1.20h a pound, New York.
FOREIGN silver 1.01h per troy ounce.
New York.
was quoted by Iron Age at 31.O0-32. 90.
Evening star., 1962-05-03

homework. The meeting will
be scheduled again next year.
Explains Capitalist System
The company awarded one
share of stock to each youth
full guest prior to the formal
meeting, thereby qualifying him
to participate. The purpose Of
the event, Mr.. Bittinger ex-
planned, was a company effort
to help explain how capitalism
works and its advantages over
the Communist system, a task
the schools should not have
ito undertake singlehandedly.
The company's talk pulled
no punches about competition.
Colored slides at one point
flashed an ad by electric power
rivals on the screen bearing the
words, "FlamelesS kitchen heat
is clean heat" and Take the
CRIME out of cooking"
Mr.. Bittinger o m m e n tie d
dryly that gas doesn't produce
CRIME either.
On the plus side, students
viewed advertisements extolling
gas in air conditioning, clothes
driers, cooking and heating.
The president noted that q
recent issue of preferred stock
has been completely sold and
checks totaling SIS million
were received Tuesday from the
proceeds.
Some of the Queries
Among other questions and
answers:
Question: How long will the
present supply Of natural gas
last?
Answer: We don't know, but
discoveries are outpacing use
Of gas. and for the next Is
years we don't see any shrink
ing Of resources.
Question: Can you anticipate
the next time shares will be
split?
Answer: No. Last Novem-
ber's split was only the second
in the company's history. It
should not be too often.
Question: What's the COM
pany relationship to Shenan-
doah Gas Co.?
Answer: We own 80 per cent
Of it. We think 1t has poten-
tial growth.
After the meeting, students
sat down for a luncheon Of
hamburgers and cokes at the
rear Of the hall.
Three students used the oc-
casion to apply for summer
jobs.
Said 17-year-old Dale Myers,
a student at Bethesda Chevy
Chase High School and one Of
the applicants.
I'VE thought that since we're
stockholders, that might help"
Evening star., 1962-05-03
MARYLAND National Bank
Plans Rockville Merger
In Growing Competition
1.-THE EVENING STAR
Weshinstoa, D. c.
Thgrydoy, Nor ), 1852
ByDONALD B. HADLEY
star Financial Editor

second Baltimore has decided to enter the growing
banking competition suburban sections of the Washington
Metropolitan Area.
Maryland National Bank the States largest with more
than $500 million deposits last night announced plans for
merger of the Montgomery County National Bank which has
Evening star., 1962-05-03
OVER COUNTER

Following prices furnished by the Ma
tional Association Of Securities Dealers
In Washington represent the range within
which locally active securities could have
been bought or sold at ! pm. Thursday