davidaulloa/AmericanStories huggingface dataset:
Evening star., 1962-09-02
WHIT Reports
.AboVe-AVeraue
Portfolio

In the face of general de-
clines in securities prices, the
portfolio of Washington Mutual
Investors Trust turned in a
-than-average perform
ance, President James M.
Johnston reported in a quar-
terly review mailed to stock
holders Friday.
Market value Of the potfolio
declined 1876 per cent in the
first half of this year, compared
with a drop Of 23.5 per cent IN
Standard & Poor's 500-stock
index and a decline Of 1872 per
cent in the Dow-Jones average
Of so industrial stocks, Mr..
Johnston declared.
The report mailed with divi-
dend checks listed net assets
of $32.189,037 on July 81 in
contrast to 100000 ten years
ago. Net asset value per share
was $9.13 VS.. IS ten years ago.
Net assets on April 80
amounted to $32,318,741 or
$9.98 a share. The fund held
common stocks Of 10 companies
in 20 leading industries on July
81. with 1859 per cent in pub
lie utilities, 14.5 per cent in
automotive and 1925 per cent
in machinery stocks.
Quarterly dividend check,
amounted to 8 cents a share
They were paid to holders OF
record July 81, and in large
part came from investment in
come in the quarter ended July
81. Around 1.9 cents a share
was earned in the fiscal year
ended April 80.
Evening star., 1962-09-02
Insurance Agents
To Hear US. Officials

Officials from seven Federal
government agencies will par
ticipate in a panel discussion at
the annual convention of the
National Association of Insur-
ance Agents. which opens at
the Sheraton-Park Hotel here
September "a.
Morton v. v. White of Allen
town, Pa, chairman of the as
sociation's Federal Affairs
Committee, will be moderator
Panel members will include:
William ]. Satterfield, Jr.,
Atomic Energy Commission;
Earl L. Milkwick. Public Hous-
ing Administration; John v.
Montague, Rural Electrified
ton Administration: William
N. Dickerman, Housing and
Home Finance Agency: Earl H,
Nikkel. Federal Crop Insurance
Corp; Leslie v. Dix, Depart
ment Of Defense, and Jerome
Sachs. Department Of Com
merce.
Evening star., 1962-09-02
Summer Dip
In Economy
About Normal
By JACK LEFLH
Associated Press Business WFitar


NEW YORK, Sept. /. - For
the first time in weeks the
economic outlook failed to be
a subject of discussion at Pres
ident Kennedy's news confer
ence: This was a welcome de-
velopment to businessmen, who
saw in it indication that ap-
prehension had diminished.
The First National City Bank
Of New York said in its monthly
review that business reports for
the summer months show that
the vacation-time letdown in
activity was no greater than
usual, and that talk of a prob
able recession next winter has
waned.
Automobile production picked
up some speed this week but
indications we're that the in
dustry would build fewer pas
senger cars this month than
in any month since September,
1858.
Steel production dipped last
week for the first time since
the holiday-shortened July 4
week. The total of l,6l1,00e
tons was sos per cent below
the previous week. Industry
sources said q substantial picks
up may not come before No
vember because big users still
are working off inventories.
The cost Of living reached
another record high, rising by
two-tenths Of / per cent in
July, mainly because Of higher
prices for food and services.
The Labor Department index
rose to l05.5 per cent of the
average prices in 1957-1959.
Evening star., 1962-09-02
Deposits Exceed 1861,
off Slightly in Week

Deposits Of Washington's
three largest banks dipped to
$1,251,170,000 on August %,
down slightly from 81 ,264 ,803.-
900 a week earlier. but around
8 per cent ahead of 81, ,150,927. =
900 on the like 1861 date, the
Federal Reserve Bank Of Rich
mond reported.
Demand deposits Of $780,
253,000 were behind $913,377,-
900 a week earlier, but ahead of
$855, ,858,000 a year ago. Time
deposits of $351,917,000 were
above 1851 ,425, 900 a week ear
lier and well above 1895 ,069, 900
q year earlier.
Gross loans Of the three in
stitutions, Riggs, American Sc
curity and National Bank Of
Washington, totaled $639, ,142,-
900 on August % VS.. $626,518,-
600 a week earlier and $579,-
200, 900 on the like 1861 date.
Commercial and industrial
loans totaled $147.920, 900 VS..
$147,594,0 900 a week earlier, but
Evening star., 1962-09-02
PEOPLE
IN
BUSINESS

John d. Davis has been pro-
NOTED to public relations man
ager for the Ford international
staff in Dearborn. Mich. He
formerly was public relations
manager for Ford here from
1856 to 1859.
Angus L. MacLean Of Wash
ington was elected q director
and q vice president Of LoDal,
Inc. Of Norway, Mich. at the
annual stockholders meeting
held on July 81.
Joseph A. Zaccaria has been
appointed eastern sales mana
ger of the Shoreham Hotel. He
will work in New York offices
of the Shoreham.
Philip A. Gibson of Falls
Church and Douglas j. Rey-
nolds of Fairfax have qualified
as members Of the 1862 Top
Club of New York Life Insur-
ance Co.
Wilbur ]. Schneider, assist
ant real estate manager of the
Virginia Electric and Power
Co., has been named manager
Of Vepco's Warrenton. Va. Of
flee.
Rex Peake has been appointed
district manager of Govern
ment sales here for Compu-
tron, Inc, manufacturers Of
high density, heavy duty in
strumentation and computer
tape.
Andrew P. Bastian has been
appointed sales manager of the
business equipment division in
Philadelphia and Washington
for American Type Founders.
Jesse Helfstein, formerly
merchandise manager for Food
Town Super Markets now is
associated with the Sweden
Freezer Co. here.
ElectrOnic Marketing AssO-
ciates has been appointed to
serve as sales representative for
Weinschel Engineering with Of
fices in Wheaton, Md.
M. Belmont Yer Standig, Inc,
Of Washington will handle ad-
vertising and public relations
for the Madison. new $40 mil
lion hotel scheduled for OPEN
ing in downtown Washington
late this year.
Evening star., 1962-09-02
ALB Chapter Plans
Income Tax Course

Washington Chapter. Amer
ican Institute Of Banking, will
offer a special course on Fed
eral income taxes, which has
been designed with special en-
phasis on taxation Of trusts and
estates.
The course will include prob
lens and practical solutions in
volving decedentS. individuals
and guardianshipS, in addition
to basic Federal income taxes
gift taxes, Federal estates taxes
and State income taxes. 1t will
be offered on Monday nights
starting September "a.
Evening star., 1962-09-02
Life Underwriters
To Heur G. ]. MuceY

George j. Mucey, district
manager for Baltimore Life In
surance Co. at Washington, Pa,
will address the Suburban
Maryland Life Insurance Un-
derwriters Association at a
luncheon at the Shady Grove
Country Club near Rockville
on Friday, September Z.
He is a past president Of
Toastmaster International and
also the Pennsylvania Associa-
ton of Life Underwriters.
Evening star., 1962-09-02

tinued at a relatively high rate
in the second quarter, there
were offsetting increases in in
dividuals' indebtedness, chiefly
reflecting an expansion in con-
sumer credit. the SEC found.
Time deposits of individuals
Increased further in the Sec
ond quarter although less than
in the first quarter when in
creased interest rates went into
effect.
In contrast to the preceding
quarter. individuals ownership
of Federal government market
able securities were reduced
and their holdings of state and
local issues also declined.
A larger amount of corporate
bonds was acquired, while net
purchases of mutual fund
shares for the quarter were only
slightly lower than in the first
three months of the year.
However, individuals sales of
other equity issues again ex-
Gee ded purchases. Other
changes in the pattern Of saw
ings reflected seasonal factors
and included increases in cur
rency holdings, savings and
loan shares. and Government
pension and unemployment
funds.
Net liquidation Of individuals
holdings Of equity issues
(stocks) amounted to $1.1
billion in the latest quarter,
slightly more than in the pre-
ceding quarter. Net additions
to the market supply were
slightly less than in the preced-
ing quarter because of larger
retirement Of stock issues.
The volume Of new flotations
Tor the quarter were about the
same as for in the first quarter
of this year. However, in re-
sponse to the decline in stock
prices, the number of issues
began to drop in May and were
reduced sharply in June. espe-
cially the smaller offerings.
Institutional investors, pri-
marily noninsured private PEN
sion funds and investment
companies, continued to be the
major buyers Of common stocks
in the second quarter.
1t was estimated that in the
first half Of this year institu-
tions made net purchases of
$2.6 billion Of equity issues
against $2.3 billion in the first
half Of 1861.
Evening star., 1962-09-02
Ryder & Co. Admits
Additional Partners

Kenneth L. Nelson. president
Of Accro Industries of Alex
andria, has been admitted as
a limited partner of Ryder &
Co., Alexandria securities firm.
it was announced Friday.
Edward A. Paroody. Bennett
r. Marshall and Louis w.
Daugherty were named general
partners.
Mr.. Nelson was one of the
founders of Aero Geo Astro
Corp. and also is assistant to
the president Of Airtronics, Inc,
the announcement said. Mr..
Marshall has been in charge
Of the securities firms sales
and has been with 1t a num-
Der of years.
Evening star., 1962-09-02
Allegheny Power
Reports Higher Net

Allegheny Power System had
net income of $23.142.320 or
$2.48 a share in IL months
ended July 81, compared with
$21 ,840,776 on $2.35 a share in
the preceding IL months, the
company announced.
Sales totaled $170,190,295,
compared with $159, 9,S82.371 in
the previous period. The COM
pany serves nearby areas OF
Maryland. Virginia and West
Virginia.
Evening star., 1962-09-02

remained far behind S176,058,-
600 a year ago. Real estate
loans amounted to s184,124,000
VS.. S182, 1853 900 a week earlier
and $166 ,22S, 900 a year ago.
Loans for purchasing and
carrying Of securities rose to
sl6,901 900 from $13,635.000 a
week earlier and $11,065,0 900 on
the like 1861 date.
Evening star., 1962-09-02
Computer Dynomics
Gets NASA Contract

Computer Dynamics Corp. of
Silver Spring has been selected
by the National AeornauticS
and Space Administration to
operate the data processing
facility for its launch opera
tions center at Cocoa Beach.
Fla.
The $250,000 contract makes
Computer Dynamics response
BILE for design, programming
and implementation Of appli-
cations for all types Of digital
computers at the center.
Evening star., 1962-09-02
Trade Boord Unit
Headed bY Warner

William j. Warner, vice pres
ident Of Griffith Consumers
Co., has been named chairman
Of the Community Affairs
Council Of the Metropolitan
Washington Board of Trade.
He is a director of the Board
OF trade and has been promi-
nent in many Of it's activities.
Evening star., 1962-09-02
Harvester Elects

CHICAGO, Sept. / (AP)-
Harry o. Bercher became pres
ident and chief executive Off
GER of International Harvester
Co. today. He succeeded Frank
w. jerks. who retired August
81 after 48 years service.
Evening star., 1962-09-02
COMMODITIES

NEW YORK, Sept. tAP). The Asso.
ciated Press average Of IS important
commodities advanced slightly to 1925
this week from 1897. This compared with
l6s.49 year earlier.
OF the six components Of the average,
half moved up and the remainder fell
back. Higher were food, livestock and
textiles while industrials, grains-cottons
and nonferrous metals declined.
Evening star., 1962-09-02
OVER COUNTER

| The following bid and asked prices are
obtained from the National Association
Of Securities Dealers, Inc, and other
sources, but are unofficial. They do not
intended as a guide to the approximate
range within which these securities could
have been sold Indicated by the bid or
bought Indicated by the asked al the
time Of compilation a pm. Friday, Au.
gust Sd. Origin OF any quotation fur.
hished upon request
Evening star., 1962-09-02
individual Sovings Show
Smaller Goinin Quorter,
But Exceed Year AGO
By DONALD B. HADLEY
Star Financial Editor

individuals saved s46 billion in financial form in three
months ended June 80 compared with $50 billion in the pre-
cedng quarter and $32 billion in the quarter of
the Securities and Exchange Commission reported yes
tarday.
Although the growth individuals financial assets con-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-08-05
1I-FI STEREC
NEW
USED SPECIALS

Stereo equipment CABINETS now on
display. Shure 232 Tone-arms.
$22 q5. Koss SIP 3 Stereo head
sets, SI9.o5. Scott NIX adp. 335,
70 USED SPECIALS
Mcintosh Mono pre-amp and amp,
Scott 40-Wt. basic, siS5. Heath
kit. stereo pre-amp and basics.
Sl40. Griffin etereo tuner, SIS.
pyna Pas-2. SEQ. Altoe A-340A
basic. S45.
You always get fresh clean COM
ponenfs, courteous service and
advice at MYERS-EMCO, 500 lth
St NV, between Z and ?, block
from woodward & Lothrop. Open
Sat. til 8. Thurs. til 9. Budget
terms. 101s down. Free parking.
Hi-Eidolitv SneciaIs
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-08-05
WASHINGTON OFFICE
FURNITURE co.
1908 H ST. NV. DI. 7-817:

ORGANS-Used organ clearance,
choose from Baldwin, Hammond,
Wurlitzer, etc. From S445. includ-
ing bench.
d c. Store ONLY closed sats. until
August Is.
GISRIEL PIANO & ORGAN CO.
e25 g ST. NV. Ma s"0423
64s5 Ar. Blvd. op.. 2 CT. sac -3602
lVa. Store, Daily Til 8. Sat. Til 81
ORGANS = We have several real
values. in used electronic ORGANS
OF well known makes. Chord and
spinet types. Phone organ depart
:nent. ST. $4,000. JORDANS.
Corner 18th and @ SITS. NV.
ORGANS-old- fashioned pump or.
gan. Also pipe organ console
suitable for electronic digan
LA. 6s71s4 or "A. s-2553.
Kodiak mirror., 1962-11-02

GOV. ECAN HAS SPENT
 HIS TERM IN OFFICE. l AMOUNTS TO ABOUT $7.00 This S42O-miIion includes all of the stote's regular income from taxes and other sources, Statehood gifts from the Federal government, Federal matching funds, and our unexpectedly large oil lease income.
 ALAsKANs HAVE BOUGHT LITTLE MORE THAN WASTEFUL ADMINI- STRATION FOR THE VAST SUMS OF MONEY THAT HAVE BEEN SPENT BY OUR STATE GOVERNMENT. THIS INEFFICIENT STATE ADMINIsTRA- TON IS WASTING YOUR MONEY, AND IS DERIVING YOU AND YOUR FAMILY OF THINGS WE SHOULD ALL BE ENJOYING TODAY.
 WORSE, TT IS DESTROYING OUR HOPES FOR THE FUTURE. BY SPEND- ING OIL LEASE INCOME oN DAILY OPERATING EXPENSES, WE MARCH TOWARD A FUTURE FINANCIAL CRISIS, AND MORE TAX INCREASES. While spending all our regular income, all our Statehood gifts, and all of our oil lease money, the governor still could not make ends meet He ordered tax increases on consumer items and on the incomes of AIoskons. His own figures show thot tax collections are up 34 per cent since the tax increases.
 WATCH THIS NEWSPA
 PROGRAM TO BUILD A THIS AD SPONSORED BY THE: Viich FOR
Kodiak mirror., 1962-11-02
42o- ILLfoN DOLLARS

WAS 1OUk MVNE1. U R EVERY VOTER IN ALASKA
 All this money is spent. There is
 no actual surplus in the stote
 treasury. The governors recent
 announcement concerning an un-
 obligated boIonee of $24-miIIion
 was q deliberate attempt 10 mis-
 Ieod the people of AIosI<o. That
 S24-miIIon wos obligated by the
 last session of the Legislature to
 meet the demonds of the sover-
 nor's huge S7O-miIiion dollar bud
 get for 1o62-63.
 What have A|oskons received for their S42O-miIIion dollars? Do we see subston- tiol improvements in highways and other public facilities in Alaska? Mo- Virtually every building program upon which our state government has embarked is far behind schedule. For four years, the stote has possessed the money to make great road improvements, but only small froc- ton of the planned work has been con1- p!cted
 ALASKA WAS FORTUNATE TO HAVE RECEIVED MILLIONS IN OIL LEASE MONEY. THIS COULD NOT BE F0RE- SEEN WHEN GOVERNOR EGAN TOOK OFFICE. HE SHOULD NOT HAVE SET UP All ADMINISTRATION THAT NEEDED THIS OIL MONEY FOR OP BEATING EXPENSES. THE OIL MONEY SHOULD HAVE BEEN USED TO DE- VELoP NATURAL RESOURCES, AND MAKE CAPITAL IMPROVEMENTS. FOR MIKE STEPoVICH'S E PROSPEROUS ALASKA I'VE ERN0R :::: ::::;;;;; :::;::;: ;:;;;;;.
 20. Box 34, Anchorage
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-07

choice in the sale or rental of
his home, the bill attacks the
very rights guaranteed by our
Constitution" Mr.. .Lum said.
Asked by Senator Metcalf
what rights would be deprived,
Mr.. Lum replied: ''It infringes
on an owners rights to dispose
Of property as he sees fit"
you and I have an entirely
differenct conception of what
the Constitution MEANS" Sem
ator Metcalf retorted.
Mr.. Lum, in attacking what
he called attempts to legislate
against discrimination, said
real estate interests were
caught squarely in the middle
Of the housing bias struggle.
Under present law, discrim-
ination Is barred in the rental
or purchase of certain types
Of private housing. The law
applies to multiple dwellings of
three or more units, owner
occupied dwellings Of four or
more units, and the initial sale
of one-family homes in hous-
mig Developments of 10 or more
units.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-07

ander Rankovic, Serbian party
leader Jovan Veselinov and
Macedonian party chief Lubcc
Arsov.
Discussion Of party affairs
would tend to confirm the gen.
eral belief that Marhal Tito's
visit to Mr.. Khrushchev of
ficially called a vacation-alsc
is connected with the growing
split between themselves and
the leaders Of Red China and
Albania.
In the drumfire Of argument
between the two camps. Pekine
had attacked Marshal Tito
and Mr.. Khrushchev In
oirectly-aS q revisioniSt and
traitor to world communism
The Peking Communists have
been attacked indirectly
through Albania as dogmatists
and Stalinists.
Tass said that the two groups
today continued their friend
ly exchange Of views on ques-
tons related to the further all
round development Of fraternal
Soviet Yugoslav relations"
"The conversation proceeded
in a spirit Of sincerity and full
mutual UNDERSTANDING" Tass
said.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-07
IS Per Cent Reduction
OKd in Some Air Fores

domestic system and at its Ca.
madam points, but the return
portion Of the round trip ticket
must be used z to 81 days after
the original trip.
Travel at the reduced rate
is not permitted between Fri.
day noon and 1859 am. Satur-
day, or between 1859 am. Sun.
day and Monday noon.
On flights to or from Florida
the excursion fare will apply
only from Friday noon to Mon.
day noon. The fares will not be
in effect for two days before
or two days after Christmas
New Years Day, Washington;
Birthday or Easter.
Children under 10 will be ELI
gible for half the round trir
discount fare, II they are &C.
companied by an adult.
The special excursion rate
will expire next April 81.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-07
Party Officials
Join TitoParIey

MOSCOW. Dec. 7 CAP). =
Soviet Premier Khrushchev
and Yugoslav President Tito
met again today amid indica-
tons they discussed the off,
cially ruptured relations be-
tween their two Communist
Parties.
The list Of officials present
at their meeting in the Krem-
lin led to the surmise that
party affairs were under con-
sideration. Tass. the official
news agency, gave the party
titles Of the participants in ad-
dition to their government po-
sitions.
Yuri Andropov, the Commu-
mist Party Central Committee's
secretary In charge Of relations
with Communist and workers
parties Of socialist countries
was among those present fol
the Russians.
Marshal Tito was accom-.
panied by Vice President Alex
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-07

The Civil Aeronautics Board
has authorized the airlines to
offer Is per cent fare discounts
on round trip tickets, for trips
on all but the busiest travel
days.
The board yesterday dis
missed complaints by six air
lines against the new fares
which Eastern Air Lines was to
put into effect today.
Three of the protesting air
lines - National. Delta and
United-filed similar fares for
defensive reasons, but asked
the CAB to suspend and in
, vestigate their own proposals
as well. 49,
The CAB action meant that
those airlines as we'll as East
ern will offer new bargains in
air travel.
Eastern's IS per cent dis
count is good on all first class
and day coach services over its
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-07
Realty Men in Middle,
Agent Says in Bios Row

ROCHESTER. N. Y, Dec. Z
(AP).-A real estate man has
told a legislative committee
that real estate firms are
caught in the middle Of a
battle between Negroes seeking
housing and whites who do
not want them in their
neighborhoods.
Donald A. Llrm Of the Real
Estate Board of Rochester APP
peared yesterday at a hearing
called to appraise housing anti
discrimination laws.
Mr.. Lum clashed with State
Senator George r. Metcalf,
Auburn Republican heading the
Senate's Public Health Com
mittee, when he attacked 1862
legislation that would have ex-
tended the States anti-bias
laws in the purchase and rent
Of housing. 80
The bill died in committee.
Indications are that it may be
re-introduced at the 1868 legis-
lative session.
BY depriving the home
owner Of the right to make q
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-07
Morsho|s Seen Delaying
Move to Shift Records

South Dakota, is the county
seat and until recently it was
the official site of the Agri-
cultural Sterilization ard Con-
servation Service county office.
However. a larger town to the
north, Herreid, was designated
the new ASC site and some of
the records had been moved
there before angered Mound
City folks put a stop to it.
Senator-elect George McGov-
ern, Democrat Of South Dakota,
said at his home in Mitchell he
had had talked with United
States District Attorney Harold
Doyle Of Sioux Falls and Off
cials Of the Agriculture Depart
ment about the fuss. They in
dicated, he said, they hoped for
a peaceful settlement short of
sending in marshals.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-07

MOUND CITY, s. OAK. Dec.
Z (AP).- Smalltown tempers
simmered down today as it APP
peared there would be no early
show Of force by Federal mar
shals to pry some Agriculture
Department records out of q
sandbagged building here.
Sources here indicated that
United States Marshal Leonard
T. Heckathorn and Assistant
United States Attorney Travis
H. Levin had left Aberdeen,
and neither was heading in the
direction Of Mound City. There
was speculation that an in
vasion Of marshals would be
held UP indefinitely to let things
cool off in the Campbell County
dispute.
Mound City, in North Central
Evening star., 1962-09-07
INTERPRETATION
ToyIor our of Far East
Moy Affect "a Budget
INTERPRETATION.

with 10 divisions. Army man.
power today is about 952, 900,
with IS divisions. On the other
hand. the Defense Department
says the proportion of combat
ready divisions is higher now.
In answer to questions, the
Army today made available
figures showing a general COM
parison in firepower capability
for an Army infantry division
now in comparison with 1857.
It is measured by the number
of weapons for delivering fire.
power within the division.
In the small arms category
E(rifles, machine guns, side
arms) the increase amounts to
about 80 per cent. for mortars,
about IA per cent. Convention
al artillery has increased about
80 per cent.
Antt-tank weapons numbers
have changed with changed
technology; the World War II
bazooka is being displaced by
the recoilless rifle and missiles.
There were no antitank mis-
siles in the infantry division
five years ago, but an average
division now is equipped with
70 guided missile weapons for
antitank use.
The greatest increase, both
in numbers of weapons for de-
livery and in the potential ex-
ploSive yield, is in tactical nu-
clear weapons for the division.
The overall increase for de-
livery equipment is at least 70
per cent. The increase in ac-
tual firepower is measurable in
factors of hundreds or thou
sands.
The infantry division has
four 8-inch howitzers. able to
fire atomic as well as conven-
tional shells (the same as five
years ago) but also has four
instead Of two Honest John
atomic missile units. And divi-
sions are beginning to. receive
la planned 80 Davy Crockett
atomic missile units. per divi-
sion, where none existed in
l1957.