davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
BY TRUMAN r. TEMPLE
Star Staff Writer

In the last four weeks prices
of railroad stocks have been
climbing.
Measured by the Dow-Jones
index Of 20 major roads, they
have risen from 1879 to a recent
high of l48. Volume of trading
has been substantial, over 1OO,-
900 shares a day. Plainly, some
institutions and individuals are
buying heavily.
A couple of recent news
events helped spur prices. The
PennSy-New York Central
merger agreement last Friday
was one. and industry forecasts
of increased rail traffic was
another.
But preceding both of these
has been excited talk of a re-
port by a special White House
task force. If one believes some
financial advisory letters, the
effect of the report will mean a
solid gold 24-carat gift to the
industry saving hundreds Of
millions Of dollars, solvin 6
chronic deficits and sending
trusty old Engine No. SO high
balling down the rails again.
The subject of all this specu-
lation is the Presidential Rail-
road Commission, a 15-man
panel that has been studying
the controversial problems of
work rules-So-called feather
bedding" charges - for more
than a year.
Their findings and remedy
will be made public next month.
They will indeed be news
worthy and far-reaching.
But what the market specu-
lators don't seem to realize is
that a "cure" for railroad ills
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Capital Bank Loans
Decline SeusonoW

Gross loans of Washington's
three largest banks decreased
seasonally in the week ended
January 10, but remained we'll
ahead of June % last year, the
Richmond bank also reported.
Loans of Riggs National,
American Security g. Trust and
National Bank of Washington
aggregated $601 10000 on jan
uary 10, compared with $685.
100000 a week earlier and
$587, 1863, 900 in June.
Commercial and industrial
loans totaled $149,230,000 on
January 10 VS.. $150,352,000 a
week earlier and were far be-
hind $175,210.0O0 on June %.
Deposits aggregated $1,213,-
844, 900 VS.. ST ,214,948,000 a week
earlier and SLAP, 202,0 900 at the
end of June.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Tit|eFirms
PronoteSmitl
And Fitzgerald

Three veteran employees with
service totaling 1875 years
among them were elected to top
offices in the District. Lawyers
and Washington Title Insur-
ance Companies yesterday.
E. Spencer Fitzgerald, who
has been with the companies
since 1923. was elected execu-
tive vice president.
Francis E. Smith, jr., who
has been with them since 1911,
was advanced to senior vice
president and chief trust Of
ficer.
H. Stanley Slime, who joined
the title companies in 1926, was
reelected to his third term as
president.
Their election came at the
annual meeting of the COM
bined boards of directors of the
companies at the Statler- Hill
ton Hotel.
Directors also elected Thomas
S. Jackson to the office of gen.
eral counsel. Reelected vice
presidents were Frank Paroni,
w. Oliver Donohoe, Donald E.
Gingery and Albert F. Miles.
William B. Wheeler was re-
named chairman of the boards
of the companies. He also
serves on the board of Subur-
ban Trust Co., is a member
of the Washington Suburban
Sanitary Commission and is a
prominent Montgomery County
attorney.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Earnings

Shamrock Oil g. Gas in year
ended November 80 earned So
506,119 or $1.93 a share VS..
$10,457, 404 or $40 in 1860.
McKessOn g. Robbins, Inc, in
nine months ended December
81 earned $6,456,O65 or $1.54 a
share VS.. $7,915,699 or $1.90 in
1860 period.
National Tank Co. in year
ended October 81 earned So
059,350 or $2.01 a share VS..
So, 405,387 or 1924 in 1860.
Brown Co. in year ended No.
vember 80 earned $1,471,071 or
81 cents a share VS.. 81, BAT 1853
or 81 cents in 1860.
Dashew Business Machines in
year ended August 81 had a loss
Of $1,803,119 VS.. a loss of $403,-
944 in 1860.
VOrnadO, Inc, in three months
ended November 30 earned
$863,929 or 66 cents a share VS..
$704,881 or SO cents in 1860
period.
General PIywOOd in year
ended October 81 had a loss
Of $455,562 VS.. a loss of 81 ,387,-
TIA in 1860.
Other earnings included:
Ear War Ended nacAnnhar IL
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Securities Dealers
ExpeI Two Members

The National Association of
Securities Dealers today an
nounced the expulsion of two
Washington members for viola
tions of it's rules Of fair practice.
Allen, Mcfarland & Co., Inc,
1920 Connecticut avenue NV,
was expelled on charges in
Guiding selling securities at
prices mot fair and not reason
ably related to the current
market" and failure to keep
current proper books. Ball,
Pablo & Co., 1000 Connecticut
avenue NV, was expelled for
charges including failure to
keep current proper books and
engaging in securities business
while unable to meet current
liabilities.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
DISCOUNT Firms
Rateof Return
Exceeds Stores

NEW YORK. Jan. 10 (AP).-
The typical discount house has
a rate of return on capital in
vestment double that of the
typical department store, says a
study by Dun g. Bradstreet.
Inc.
The statistical firm said a
study of 154 discounters showed
they provide unique advantages.
such as the high return and
also weaknesses.
Chief among weaknesses is
vulnerability to buying errors.
since discounters depend so
heavily on the rapid and con-
tinuous flow of goods.
The study said few depart
ment stores can match the net
profits to net worth of typical
diScounters. Further, it said
that discount house. profits on
dollar sales are only moderately
below those Of department
stores.
THE fact that discounters
earn 1.3 cents on each dollar
of sales compared with the II
cents of department stores is
a tribute to their operating ef-
ficiency," Dun & Bradstreet
said.
1t said the study showed
many discounters to be under
capitalized, with firms carrying
liabilities much larger in pro-
portion than department stores.
Financially, the crack in
their armor is the fact that
they must continue to depend
on high sales to maintain their
cash flow and are unusually
vulnerable" to errors that dis
rupt sales, DEB said.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19

The commission may also
urge giving youngsters priority
for other railroad employment
or paying them a percentage
OF their salaries while they're
looking for jobs. (Rail workers
now are guaranteed so per cent
OF their pay up to five years
when they're laid off following
mergers0
Just how much would it save
railroads to eliminate firemen
over the next decade?
About $3.50 million a year is
now paid to freight and yard
firemen. Class I railroads -
meaning almost every Ameri-
can railroad of any size -
melted $49l million in 1860.
That would mean better than
SO per cent Of their profits.
The Railroad Commission has
performed heroic work this past
year in its headquarters at 200
Maryland avenue NE. The
members Of the panel Give
union men. five railroad man.
agement men. and five public"
members have heard $4,000
pages of testimony and waded
through 10000 pages of ex-
hibits.
The last great hurdle is put
ting their recommendations
into effect. Lacking any legal
power. the commission must
rely on persuasion and public
opinion to get their points
accepted. ..-.
Allen J. Greenough, president
of the Pennsylvania Railroad,
recently voiced optimism about
the panels work. II.
But he also noted: 1.-THE in
dustry is still being studied to
death and reported to death;
what is needed is action"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Marshall Heads
Electrical Group

Robert C. Marshall, president
of Robert c. Marshall, Ltd,
was elected president of the
Electrical Contractors Associa-
ton of the District of Column
bia at the recent annual meet
ing.
Other new officers: Lawrence
M. Bichell. president of L. M.
Bichell Co., vice president;
Milton L. Klein. president, A.
&c. Electric Co., secretary;
Archie Burgess, president of
Burgess Electric, treasurer.
Robert L. s. Bickford, for
mer newspaper writer and as
ISOLATION executive, was named
executive director.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Alexandra National
Assets $37.686,955

The Alexandria National
Bank today reported total as
sets at the end of 1861 were
$37, 686,955. The total included
17,169,334 in loans and dis
counts and $10,103,530 In
United States Government OBJ
legations.
Alexandria National was Or
ganized in 1904 with assets of
less than 81 million. 1t now has
six locations in the Alexandria
area, including a new main
office opened last November
at $50 North Washington
street.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
TALKING OF BUSINESS
Task Force Report Seen Behind
Rising RoiIrood Stock Prices

will come spread over a period
Of years, not overnight.
Getting the railroad brother
hoods and management to sit
down and even discuss work
rules calmly was a long step
forward, a feat Of persuasion
accomplished by former Labor
Secretary Mitchell shortly be-
fore he left office.
One Of the key issues of the
work rules situation affects
roughly $4,000 railroad firemen.
The changeover from coal
burning steam buffers to diesels
is virtually complete, and obvi-
ously no one is needed up in
the cab to shovel coal. So let's
abolish firemen, the railroads
have been demanding.
Canada did just that four
years ago, in line with a recon-
mendation by a Royal Commits
sion. But neither in the United
States or Canada do you sud-
denly lay off tens of thousands
of men, many of them with a
lifetime Of service, especially
when the Nation is concerned
with a large body of unem-
ployed. Canada has been using
normal attrition to eliminate
firemen, leaving jobs vacant as
the men retire. Officials esti-
mated in 1858 the process would
take II years.
Several methods of phaSing
out employees in the United
States are possible. One would
be encouraging earlier retire
ment. On most railroads no
mandatory retirement exists
now and many engineers are
IS, 10 and even older. (The age
limit on airlines is go for pilots,
and physical exams often wash
them out even earlier.)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Bank Holding Firm
Pushed in VIRGINIA

Herbert C. Moseley, president
Of the Bank of Virginia, today
said a bill to encourage state
wide bank mergers in the state
would not affect organization
of a new bank holding COM
pany, Virginia Commonwealth
Corp.
The bill was introduced yes
terday. It would allow state
banks to merge regardless of
their location. At present nler-
gers are limited to a radius of
rs miles from the parent bank
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
CHICAGO
LIVESTOCK

CHICAGO, Jan. 10 APP (UsDA).-
Hogs 5000; active, butchers rs to so
higher; sows fully steady. very good
shipping demand; early clearance on
al classes: IL ,l9O-220 ID butchers
1895; mixed 1-3 l9O-24O lbs. 1895
1900: 240-27O lbs 17.OO-17.50: 2-3
10000 lbs. 16.50-17.25: mixed 1-3
100000 Id sows 14.50-15.75: 2-3 400
800 lbs. 13.25-l4.75; shippers took
1900.
Cattle 800; calves none small fresh
receipts largely cows; cows fairly &C
tive, steady TO strong: utility ard COM
mercial cows 13:15-15. %; Gamers and
cutters 11.75-14 so; bulls slow, weak
and commercial 1S.00-20.00; not
enough OF other classes to establish a
market.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Muson-Dixon Lines
Plans Terminal

KINGSPORT, Tenn, Jan 10
(AP). - Mason-Dixon Lines,
Inc, one of the Nations largest
trucking firms. announced a
SO million expansion program.
E. Ward King, board chair
man, said the program will in
clude a new headquarters
building and terminal facilities
here and new terminals be-
tween Washington and Balti-
more, at Cincinnati, Birming-
ham. Louisville, Asheville and
York, Pa.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Horrisonburg Bank
To Open New Office

The Rockingham National
Bank at Harrisonburg, Va, will
hold the grand opening of it's
new building from 3 to 8 pm.
on Saturday.
Rockingham National ended
1861 with around Ii3 million
of assets, compared with SILL
$4,000 a year earlier. The to-
tai was 500 million five years
earlier and STA million 10 years
earlier.
The bank has sold its former
quarters to E. L. Kingston for
$4,000.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Enterprise Federal
Elects T. A. DunMorth

Timothy A. Dunworth has
been elected a director of En-
terprise Federal Savings &
Loan Association, 813 Pennsyl-
vania avenue NV, the institu-
ton announced today.
Mr.. Dunworth is also vice
president and assistant Secre-
tary. and has been with Enter
prise since 1885. Francis j.
Hayes and George I. Berger, jr.,
were reelected directors.
Joseph c. Duke has been
promoted to assistant treasurer,
and David L. Bryant to head
teller.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Metropolitan Makes
Apartment Loan

Metropolitan Life Insurance
Co. has entered into a 5000, 900
commitment to provide long
term financing for the Broad
falls Apartments at 800 Broad
street in Falls Church, Va.
The loan was announced by
Weaver Bros, mortgage loan
correspondent for Metropolitan.
The borrower is Broadfalls
Corp. and developers are Paul
Burman and Jay w. TILES
Architect is Donald j. Olivola
The building is to be COM
pleted next October.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Directors Renamed
By Home BuiIdinq

Shareholders of Home Build
ing Association reelected all
directors at their annual meet
ing and President Charles l..
Norris, ST., reported assets
reached a new high of more
than $18.8 million at the end
of 1861.
Reelected directors for
three-year terms were: w. Yule
Fisher, Harold G. Hayden and
John J. Mccarthy.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Mount Vernon Bank
Nets S5.26 q Share

Earnings of Mount Vernon
Bank and Trust Co. amounted
to $5.26 a share in 1861, a
gain of 10 per cent from the
previous year, President An
drew w. Clarke announced at
the annual meeting Wednes-
day.
Assets reached a new high
of $26,091, 1896 at the years end
and deposits expanded to $23,-
628,638, with gains exceeding
18 per cent.
Mr.. Clarke said the controller
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Area Store Sales Off
6 Pct. From Year Aqo,
Despite Weeks Pickup

Department store sales in the Washington Jagged
per cent behind year in the week ended January 49,
despite IA cent pickup from the previous week. Federal
Reserve Bank of Richmond reported today.
Area sales in four weeks ended January IS just
with the bank said data from individual
disclosed.
The downtown portion of the latest weeks down
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19

of the currency is expected to
approve merger of the bank
with the Old Dominion Ma
tional Bank of Fairfax County
at an early date.
All directors were reelected
and they voted to increase the
interest rate on savings ac-
counts to 4 per cent for funds
on deposit over a year, the
maximum rate permitted by the
Federal Deposit Insurance
Corp.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
RiverdoIe Gets
New Food Fair

Food Fair Stores, Inc, has
opened a new ultra modern
%, 000-square-foot supermarket
at $500 Kenilworth avenue in
Riverdale, Md.
1t is the seventh supermarket
of the company in the Wash
ington area and the 45th in
Maryland. 1t also is No. 460
in the 10-State chain. Ralph
Edwards, native of Fort How
ard, Md. is manager of the
new store.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19

There are number of reasons why resi-
dents of Northern Virginia save at First &
Citizens-the convenience, the pleasure of do
ing business with good friends and neighbors,
and the solid security of their savings (every
account is insured up to $4,000 by the Fed
eral Deposit Insurance Corporation).
Another reason is the high rate of inter-
est-currently 81 % per annun,. This interest
is compounded and paid quarterly on the first
day of January, April, July and October on
accounts having balances of SIS or more and
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Sales Drop 8 Pct.

KANSAS CITY. Jan. 10
(AP).-Department store sales
in the 10th Federal Reserve
District dropped 8 per cent in
the week ended January 10
compared with the correspond
ing week a year ago.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19

3 per cent from a year ago,
despite an increase of IL per
cent from the preceding week.
Downtown sales in four weeks
ended January Is were off 4
per cent from a year ago.
Apparently suburban store
branches in Maryland and
Virginia sections of the area
are gaining enough to help off
set some of the downtown de-
clineS.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
METALS

NEW YORK. Jan. 10 (API,-spot
nonterrous metal prices today: Copper
Lead 10 cents a pound, New York,
Zinc IL cents a pound, East st. Louis.
Tin 1,2Oss a pound, New York. For
eign silver .0324 per troy ounce, New
York. Pittsburgh scrap steel No.
300.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
Savings Accounts earn 31h%
interest at First & Citizens

remaining open until the end of the quarter.
Interest is paid on balances maintained
throughout the quarter.
Also at First & Citizens, savers receive
10 free Understanding days per quarter be-
cause deposits made by the 10th day of the
quarter earn interest from the first.
Put your money to work for you by OPEN
ing a savings account at First & Citizens,
Virginia's oldest national bank. 1t will pay
you handsomely.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
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. Friday,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
TREASURY BONDS

NEW YORK (AP) Moon over the coun-
ter u. S. Government Treasury bonds,
bid, asked, net change and yield for
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-01-19
MUTUAL FUNDS

NEW YORK (AP)
National Associa-
ton Securities Deal
are Tpn
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1962-12-27
gaHtapluttr
GanuaStatiatl

Established 1855
By MotthetD Fields
Published by
MORKAP PUBLISHING co.
ROGER B. FARQUHAR
Editor and General Manager
LEONARD KAPILOFF
Publisher
BERNARD KAPILOFF
President
MICHAEL r. McDADE
Circulation Manager
Member Audit Bureau of Circulation,
Maryland Press Association. Affiliate
Member National Editorial Association.
Published every Thursday at 215 E.
Montgomery Ave, Rockville. Md.
Entered as second class matter at
Post Office. Rockville. Maryland, under
Act Of Congress, March B. 1879.
SUBSCRIPTION RATES
One Year $3.50 Two Years 81. 50
Telephones: Garden 4-7700
Mailed in Maryland and the
District of Columbia
One Year $500 out Of State
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1962-12-27

A cooling of tempers and a calmer approach toward
the affairs of public education in Montgomery County
now desperately needed.
All parties concerned should go into huddle by them
selves and strive to find peaceful solution to strong diff
ferences of opinion that have arsen perhaps inevitably,
between the two school board factions
Smouldering differences fared up the weekend
in heated exchange between the school board presi
dent Charles W. Bell, spokesman for the four-member
conservative faction, and the three minority liberal
members
The exchange was touched off by publication of School
Supt c. Taylor Winters list of possible budget cuts which
included such highly desirable if not essential programs
FILES oreign language in elementary schoos) kinder
garens driver training the summer program and elmina-
ton of many teachers through increasing the number OF
pupils per classroom.
Designation of such programs by DR.. Whittier as pos
sibe budget cusn compliance with an order from the
four conservatives to find possible economies amounting
to SIS miion-immediately precipated public cutlery
School Board President Bell, smarting no doubt from
the strong public reaction against such cuts accused Dr.
Whittier of loading the list with items designed to rritate
the public The school superintendent promptly denied the
charge. And the three minority members issued joint
statement which deplored the Bell statement and termed
the attack Dr. Whitiers Integrity and good faith
wholly unwarranted"
Dr. Whittier and Bell will sit down for meeting today
to discuss budget details The three minority members
must sit down at meeting with the four majority men,
bes JAM O. The voters have decreed that the two fac
tons shall work together until the next school board cleo
ton two years hence They must work together.
Both factions, believe, acting in good faith.
The three minority members confident that public
schools in the county good And they want to keep
them that way. The four majority members believe sin
cerey that it may be possible to effect economies
where in the $62 million budget And they are deter
mned-and properly-to do this if it is possible They
maintain sincerely that they have intention of HARM
ing the quality of public education in Montgomery County
Both sides appear to be honestly motivated If this
the case and believe it up to each side to deal
with the other calmly sensbly and fairly with both sides
realizing the tremendous public responsibility that rests
on their shoulders.
With mature, somewhat calmer approach to the
job they have taken on both sides will be able to tackle
the amportant tasks they have been charged by the
public with performing Each side must unbend little
and get on with the job.
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1962-12-27
BY Shirley Barshay
Guest COIumnist

People always seem to get lost between
the covers of each new plan it comes off the
printing press Yet the plan is for people who
are born, who eat, sleep, go to school, work,
marry, have children, play, have problems,
get SICK one day. die.
The turmoil of growth and change is
what is driving to search for new and
better techniques for alternating or manag-
ing the turmoil, looking for a less fragile
something, embodied somehow, in a PLAN
And cities are busy trying to wipe out the
economically useless structures of the past
Concrete skeletons are rising everywhere out
of the debris of urban renewal, making the
Jungle" of the city better equipped and
sleeker.
But what about the periphery of the
city? There is little question that the total
metropolitan area is a kind of "jungle" Of
armed camps i'm the pressure of develop
ment. AS the population not only grows but
also increasingly clusters around urban
centers, the need for prudentIy controlled
growth patterns becomes elOquently clear.
Local political campaigns universally
abound in charges of inadequate planning"
The unkindest cut is suburban sprawl" The
paper editorials Yet, the average citizen sits
in utter confusion, and even Indifference, eX-
cept when his property is threatened by
proposed apartment house or gas station
in his backyard.
The trouble is that physical planning, or
the lack of it. is not in evidence until the
result is fait accompl Land is a COM
modify, like the raw material in a factory,
and the end product is what appears on the
horizon. But it's much easier to re-tool for
better washing machine than it is to rebuild
for better community Land, like any other
commodity, is owned for the largest profit
in the near future and not in the public in
terest of the year 1000.
What we are really saying, in the heat
of our planning dilemma is that developers
have to be different from other businessmen.
They must not look only to the year 1864;
they must look to the year 1000, but not in
terms of land so miles away from the present
population concentration Rather, in the
framework of what is built now.