davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-08-24
Railroad Threatens
Nudeor Power Delay

dams, based on one advanced
model, the Yankee Atomic Elec-
trio Co. reactor at Rowe, Mass,
A 100000 kilowatt plant might
produce power for ga mills per
kilowatt, they noted.
Coal for Less
South Cardinals coal plants
now generate power for 6 to
mills { a mill is a tenth Of q
cent?. according to Franklin r,
McMeekin, vice president and
general manager of South Caro-
lima Electric & Gas Co.
Authorities at a press briefing
yesterday conceded the pilot re-
actor cannot come close to such
costs because Of its experiment
tai nature. 1t Is expected the
Parr reactor will be run for
five years, assuming 1t receives
its license from the Acc, and
will help train personnel for a
big generating plant.
Although conventional power
is cheap in the southeast, the
utilities look ahead to the time
when costs of extracting coal
will make m-fueled
plants a more econ omical
source Of electricity.
Were getting into this nu-
clear power with our eyes
open," said Gene Leier, a vice
president Of the South Caro-
lima utility" Some day coal and
gas fuel will run out"
Three Types
The Parr facility is unusual
in two respects. 1t is the only
place in the United States
where all three types Of power
generation-coal, hydroclectric
and nuclear-exist side by side.
All three feed into the grid OPP
Grated by the four utilities
South Carolina Electric & Gas
Co., Carolina Power & Light
Co., Virginia Electric g. Power
Co. and Duke Power Co.
And the pilot reactor Is the
only one Of its type in this
country. a pressure tube design
using heavy water to carry heat
from the nuclear fuel to the
generating end Of the plant,
Behind the technology lies a
political quarrel. Silas C. Nc
Meekin. president of the
CVNPA. said some Government
officials had deferred efforts
by private utilities to get into
nuclear power. insisting that
the Federal Government de-
velop this field.
In spite of them, he said
some 124 private utilities now
are participating and have in
vested about $500 million in
nuclear programs.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-08-24

freight rates some so per cent
in movement Of bulk grain into
and within the Southeast.
THE saving would be some
$37 million in the Southeast
alone on this one commodity"
he said. 1T is plain that, Ma
tion-wide. on the long list of
items which are considered to
be agricultural and bulk COM
modities, the savings to the
public would be enormous.
Hundreds of millions of dollars
a year is very likely an under
statement of the potential saw
ings that would result If the
railroads were free, as other
carriers are, to set minimum
rates on these products with
out regulation"
Regulated and non-regulated
water carriers haul bulk COM
modities without regulation, he
pointed out. These commodi-
ties are regulated when handled
by either the common carrier
railroads or trucks. The So
called agricultural exemptions,
which cover a long list of farm
and related products, free these
products from regulation when
hauled by regulated or unregu-
lated trucks. but they are regu-
lated when hauled by common
carrier barge lines or railroads,
he said.
THE asininity Of these regu-
lations," Mr.. Brosnan declared,
"is shown by the fact that the
present law would permit a
railroad to buy trucks and haul
grain in these trucks without
regulation. But the minute 1t
is put In q railroad car it is
regulated and at higher-than-
necessary rates"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-08-24

amount of the management fee
or the amount of the sales
charge.
The study concluded that
expansion of mutual funds in
the last decade had contributed
significantly to the increase in
stock prices. However, mutual
funds we're only one of a num-
Der Of factors contributing to
this, it said.
Fees Are Criticized
The study took a critical view
of the fees charged by invest
ment advisers of mutual funds.
/ Advisory fees of a representa-
tive group of funds in 1901
amounted TO 1853 per cent Of
investment income, it found.
The fees were substantially
larger than the same advisers
charged clients other than
mutual funds, it said.
These findings suggest that
the special structural charac-
teristics Of the mutual fund
industry, with an external ad-
wiser closely affiliated with
management of the mutual
fund, tend to weaken the bar
gaining position of the fund
in the establishment of ad-
visory fee rates.
Disposition Of brokerage
business of mutual funds also
is a source Of possible conflict
Of interest between controlling
management groups and fund
shareholders, particularly
where the controlling manage
ment group is affiliated with
the broker"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-08-24
BUSINESS
BRIEFS
Rail Freight Loadings in the

Rail Freight Loadings in the
week ended August Is totaled
582,626 cars, up 3 per cent from
the previous week, but 81 per
cent below the like week a
year ago.-AsSociation of Amer
lean Railroads.
Kroger Co. sales in the 4
weeks ended August II totaled
$l42,926,0l2, up AZ per cent
from 1851; for 80 weeks ended
August II $l.l64.SS1,S35 up
"A per cent from 1861.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-08-24
By SAM DAWSON
Associated Press Business Writer

NEW YORK. Aug. "a
President Kennedy makes it
plain that the space industry
definitely will become even
more of a growth industry.
The problem for corporate
arrangements and for investors
is to guess which companies
will share in this stepped up
growth. For this is an indus
try where obSolescence often
sets in even before q contract
can be fulfilled and where to.
morrow's contract Is today just
a CLEAN in a scientists eye.
The President told his news
conference the Defense Depart
ment is considering even larger
budgets for United States space
spending.
What contracts will be let
and who will get them will plot
the future Of companies pri-
marily allied to the missile de
fenSe-space industry.
Many Firms Make Parts
But a still larger number Of
companies will be affected.
These will supply the wide
variety of parts and services
that combine in the compli-
Gated vehicles the United
States will launch in the skies.
Each new prime contract as
announced will brighten the fu-
ture and boost the stock Of the
company to which it is
awarded. 1t will also be top news
in an uncounted number Of
other companies which will do
part of the work or supply part
of the necessary gadgets. The
end products Of many others
will be attached to or used by
the latest missile or space ship,
launching pad or landing gear,
or as fittings for capsules or
moon camps.
This can range from intri-
cate electronic devices to spe-
cial types of food or beverages,
from highly specialized metal
alloys to a varied line of fuels.
Total May Hit 81 Billion
The President noted that
military space spending is now
running around SIS billion a
year, that about 40 per cent of
defense research funds are be-
ing spent for space. The civil
ian space agency is spending
$3.7 billion a year now. Both
military and civilian spending
is expected to climb next year.
Some think the total may rise
to as much as 81 billion, as
the United States strives 10
catch up and pass the Russians.
From industry's point of view
military and civilian space
spending is all one-what the
President calls "a great inter-
relationship" And industry it.
self is pouring huge sums into
research that could improve
known space vehicles or pro-
duce new marvels.
The President mentioned only
one space program, that re-
volving around the Titan missile.
At least 10 corporations have
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-08-24

lit IGpOIG COllCluuSQ IIlc
size. per Sc, of individual funds
or companies is a problem at
the present time.
The more important cur
rent problems in the industry
appear to be those which in
volve potential conflicts of in
terest between fund manage
ment and shareholders, the pos
Sible absence of arms length
bargaining between fund man.
agement and investment ad-
visers. and the impact of fund
growth and stock purchases on
stock prices" the SEC release
said.
No Relation to Size
These problems were found
to be unrelated to company size
except to the extent that ques-
tions arise concerning the al
location between fund share
holders and investment advisers
of the benefits arising from
large-scale operations.
Many of these problems,
particularly those relating to
the enforcement of ownership
from control and to the market
significance of a relatively
smaller number Of large or
CARNATIONS, are not unique to
= mutual funds but character
ize other financial and nonfi-
nancial institutions as we'll"
10 The SEC noted the rapid
growth Of mutual funds since
passage of the Investment Com
pany Act of 1910. At the end of
1861. there were 344 open end
registrants under the act with
$24.4 billion of assets, compared
with 14l companies and SAB
million Of assets on June 80,
1941, the commission pointed
out.
The Wharton report was re-
queSted by the SEC and will be
transmitted to Congress for
possible legislation. Wharton
received $95,700 for the project.
Risks Diversified
The report said mutual funds
tend to specialize in common
stock investments and provide
a relatively easy means Of
diversifying risk which may be
particularly useful to small in
veStorS. This diversification
also tends to lower the cost OF
equity capital and stimulates
more risky undertakings, with
a higher rate OF return than
would probably otherwise be
realized for a given total in
veStment, it also concluded.
For the small investor to at
tain a comparable degree of
diversification by direct pur-
chase might involve acquisition
costs in excess of the 8 per
cent sales charge typically i'm
posed by the funds, it added.
However, the study was not
impressed by the performance
of mutual funds In making cap
ital gains. 1t found that on
average, they did not differ
appreciably from what would
be achieved by an unmanaged
portfolio, consisting Of the same
proportions of common stocks,
preferred stocks, corporate
bonds, Government securities
and other assets as the COM
posite portfolios of the funds.
About half the funds performed
better and half worse than such
an unmanaged portfolio, it
said.
No relationship was found
between performance and the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-08-24
Special SEC Study
Conflicts of Interest in
Handling Mutual Funds
BY DONALD B. HADLEY
Star Financial Editor

Potential conflicts of interest handling of
men companies mutual funds Of the major problems
raised critical appraisal of this enterprise
public today by the Securities and Exchange Commission
The appraisal outlined special study compiled for
the SEC by the Wharton School of Finance the University
Pennsylvania.
report concluded that there is little evidence that
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-08-24
Southern Chief Urges
More Rail Freedom

Charging that regulation Of railroads has failed miser
ably President D. w. Of the Southern Railway told
the Senate Commerce Committee yesterday the public would
be saved hundreds of millions Of dollars the carriers
were allowed more freedom to compete for business.
Appearing at hearing Senate Bill 3243. Brosnan
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-08-24
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 OF sold at I pm. Friday,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-08-24
TREASURY BONDS

NEW YORK (AP)-Noon over the coun.
Yer U. 5. Government Treasury bonds,
bid. asked, net change and yield for
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-08-24
AMERICAN STOCK EXCHANGE

ACTIVE ISSUES
tSymbs Explained Notes Following New YORK
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-08-24
MUTUAL FUNDS

Bid Ask
NEW YORK CAP)
National Associa.
ton Securities Deal
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-02

D. 0seen casual sIoeks i'm
ported from Itok :. perfectly
proportioned ond fully lined.
Block, grey or Ioden wool and
nylon flonnel. Sizes 8 to 10.
Petite. Average. Toll. G.e@
For Women 80.
9. Lady Fame Women's
BloUses clossic jewel neck
line fovorites of cosy core
nyIon. White. blue. beige.
Sizes 80 10 -. G.A0
.. Berry Ashley Women's
Skirts SHINING sheoth
style with sit pocket. kick pleot.
All wool in block or brown.
Sizes 80 TO 80. YsS9
konn's SporisWeoT Second Floor,
Washington; Street Floor. Abingdon
The Adak sun., 1962-12-31
'- DIX SUN

Page .~ DIX SUN
 EGLzZIY | :~ ::: the limit
  O. variety   Judith Stephen in Webb City, issonri   a his half;
 
   left the Judging for Naval Facility insignia took place and Denae
   Bonvini, 
   the U S. cc Fleet fe and Pistol Championships and the U S. Rifle and Pistol Championships held at San Diego last 
 
 
  o45 stmas
   FROM CHEW
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-08
FASHION NOTEBOOK
1t Was Show Time
At the MoyfIower

ter of the Ambassador of Aus
tria; Senorina Annalina Fe-
neoltea, daughter Of the
Italian Ambassador; Senorita
Lupita Garlic Flores, the
Ambassador of Mexico; Sc
norita Marta Plate, daughter
of the Ambassador of Para
guy. and Sonora Manuel
Tello, jr., whose husband is
the alternate delegate to the
GAS from Mexico.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-08

Joon Chang, wife of the Econ
ornic Attache; Mrs. Kwang
Ho Aim. wife of the Military
Attache, and several other
embassy wives received the
guests.
Mrs. Edward A. Davis, sales
chairman and Miss Helne
Demary, executive director of
the Society also received.
The members Of the Kore-
an Diplomatic Corps are ar
ranging glaucoma' tests for
their Washington staff to be
done by the society.
The committee members,
who are representative of the
many civic groups participant
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-08
GoIIoudet
Receives
Gift Check

The Washington Alumnae
Chapter of Delta zeta Soror-
ity has given Gallaudet Col
lege a check for $l35 to pur-
chase a hi-fi record player
for use by the m o d ern
dance group as well as in
social activities on the camp
us.
Miss Martha ]. Mitchell,
social service chairman, made
the presentation to DR.. Leon
ard M. Elstad, Gallaudet
president, in a recent cere-
mony in his office. Miss
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-08
To Show Film

A film on 1.-THE Women of
Pakistan" will be presented
by Mr.. Aftab Ahmad Khan
of the Pakistan Embassy at
a meeting of the Faculty
Women's Club of George
Washington University at 2
pm. tomorrow in the Lisner
Lounge of Lisner Auditorium.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-08
Stors in Town
Tomorrow

Recording stars Steve Law
renee and Edyie Gorme will
be in town tomorrow to ac-
cept the Variety Clubs Per-
sonalities of the Year Award"
at a dinner dance that eve
ming at the Statler Hilton
Hotel.
On Saturday they will pre-
sent the winner of the Va
riety Club race at Laurel with
a bouquet. They will be leav-
ing late Saturday evening for
an engagement in Philadel-
phia on Sunday.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-08
BY ELEM
Fashion Editor

More than $4,000 was re-
allied yesterday for the bene-
fit of the Florence Crittenton
Home, Owen Circle when
Fantasy In Furs," a musical
fashion revue played Wash
ington at The Mayflower
Hotel.
Mrs. Francis Fabrizio paid
tribute to her committee
which put in seven weeks Of
intensive work to make the
fur fashion show of Euro
pean and American designs
a success.
The Fur Information and
Fashion Council staged the
production which came COM
plete with music and lyrics,
a director, sets, and a mar
rator, Mona Lou Greene.
The plot. revolved around
the simple theme that all
women adore furs. What's
more, with the holiday gift
giving season in mind, it
gently nudged the women in
the audience via song, to
mention to the male in their
life, subtly Of course, that
furs would be fun for Christ
mas.
Mona Lou Greene made the
point in her commentary that
one fur will never do for all
the m any exciting fashion
events in a woman'S life. She
herself changed with every
sequence. Some of her per-
sonal fur wardrobe included
a short Lakoda jacket, and
the Washington audiences
favorite, a black leather
bound jaguar coat.
Among the SO designs in
the fur fantasy were offer
ings by such international
favorites as Pierre Cardin,
and Givenchy of Paris; Sybil
Connolly of Dublin; and EN-
lilo PUGET Of Italy to show
the international appeal fur
has.
The show has played to
charity audiences in Phila-
delphia, Milwaukee, San
Francisco, Los Angeles, Dali
las and Atlanta.
All designs shown were
made available to local fur
riers so that show shoppers
like the Hawaiian Muumuu
Of Emba Homo Mink in the
y length, the natural La
koda seal coat with the i'm
peccable tailoring bound in
matching suede, the spare
and sleek "Maharani" &c.
inch coat Of blue-dyed Per-
sian lamb, and the fire-en-
CINE dyed American broad
tail. A line redingote can be
obtained in Washington.
Curtain calls came for "the
beautiful Persians" that have
nothing in common with the
past's old-lady Persian lamb
styling. New ones are lightly
handled as to silhouette and
coloring for this revival whose
emphasis is on the youthful
approach.
Local talent was recruited
for one sequence of yester-
days show. A Washington
bevy of beauties with Dache
coiffures modelled some of the
fabulous furs. They included
Mrs. Glenn Mitchell, daugh-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-08

Elizabeth H. Wells, president
of the Alpha Delta Chapter
at George Washington Uni
versity, was among those at
tending.
The alumnae chapter Sc
lected Gallaudet College for
its major philanthropic prof.
ect last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-08
Korean Tea
Is Held

The Korean Ambassador
and Mrs. II Kown Chung en-
tertained last evening in
honor Of the Committee of
the Paris Flea Market" of
the Prevention of Blindness
Society.
The party was q / to 3
pm. tea at the Ambassadors
residence.
Mrs. Snug Chul Hung, wife
of the Counselor; Mrs. Vie
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-08
Precious
|Dusicatchers -.

If you have old jewelry that
needs repairing, or is hopelessly
out-of fashion, bring it in for an
Ernest Burk beauty treatment or
undermining. The cost is mod
est-the results delightful. Ernest
Burk, Inc, GA 18th st. NV.
Between F and g SITS. Next to
First Federal. @ 1861.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-08

ing in the paris Flea Mar
ket." will sponsor booths at
the sale to be held on March
$3.50 at the Silver Spring
Armory.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-08

We inUite you 10 call
or come in to open
a Sears Revolving
Charge Account:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-08

ADVERTISEMENT
Evening star., 1962-12-30

ACE was the first thing the Angels sang
Peace is the mark of the sons of God.
Peace is the nurse of love. Peace is the
mother Of unity. Peace is the rest of
blessed souls. Peace is the dwelling
place for eternity. :. LEO THE GREAT
Evening star., 1962-12-30

'RK IS THE GRAND CURE for all the NAL
aides that ever beset mankind
work which you intend getting done.
-. THOMAS CARLYLE
Evening star., 1962-12-30

These eight from The gax
Keller MN g to encourage individuals take
~b thought for each day. purchased Cast Aep York ~
Evening star., 1962-12-30

BEN c. WRIcHT, Reidms
EUCLID NJ. CovNcroN
0Gir@aa Of he Board
JoHN c. STERLING
Honorary ChGismaa
Evening star., 1962-12-30

TINS WEEK AssoIIas I o.es~bsr 20. 1882
Evening star., 1962-12-30

WILLIAM I. NIcHoLs
Editor and Publisher
ID HscAErHY, Man4siag Editor
NELSON cEuPro, AT DirecsOr
STEWART BEACH, Asss. 20 aae Editor
Tabor City tribune. (Tabor City, N.C.) 1946-1991, 1962-09-26
Horny Telephone
Coop Meeting
Set Oct. 1st

The annual stockholders
meeting u. the Horny Telephone
Cooperative. Inc. will be held
in the Horny Electric Cuopera-
tive auditorium IN Conway al
100 p. m. Monday. Oct. l..
Barney Long. SeCretary-treaS-
urer. announced TO-DAY.
Three directors - one eacn
from the Aynor. LoriS and
Wampee High School districts
are to be elected.
The nominating committee
has suggested the following
candidates but the floor will BE-
open for additional nominal
tionS:
Aynor High School District:
Harry l.. Davis. Ri. 3. CONWAY:
Frank Campbell. AynUr.
Loris High School District:
Joe Blount. Ri. >. Tabor City:
d. O. Hcnniturd. ST.. LuriS.
Wampcc High School District:
Frank Edge. Ri. ,. Conway. :.
G.: Julius j. Ward. Ocean Drive
Eeach.
Tabor City tribune. (Tabor City, N.C.) 1946-1991, 1962-09-26

10 act your age and try To be
dignificd. II we seem Ia he
having fun and enjoying our
selves. VIC are regarded as an
oddity. School is too inSumanc
Ii seems that we're thought of
as only SpongCS - absorb the
material thrown AT YOU and
keep your mouth shut. We
can't even have a snack break
between second and third per-
iodS. Yeah. know we have
a break but the only thing VIC
can do is sit in orr desks and
think about food. Everyone
Just sits there and looks around
to see If anyone has passed
out from hunger panGS. BY
fourth period. everyone il So
droOpy and lct-dOwn that its
pure torture to live through
until lunch time. I'll he So glad
10 get out of that place that
j. pitiful,"
II know what YOU mean.
Tabor City tribune. (Tabor City, N.C.) 1946-1991, 1962-09-26
Continued From Page -

Continued From Page -
tobacco as I looked. Finally |
SAW his head. then he decided
he would escape and turned
Ia 90 little further away from
me. We'll. | sure must have
built up more nerve SO | scat
tered tobacco little faster and
finally knocked the stick down
with the snake still hanging on.
! hit him on the head time and
time again until | thought il
was safe Ia take him outside.
There were no men around and
maybe | did the wrong thing
by killing what was told us
later a Chicken Snake. but as
far as am concerned snake
is n snake and | am afraid of
them. He measured three feet
long. But not To be outdone my
brother in law Dow HinSon
killed a six foot long rattle
snake with nineteen rattlcrs
and ono button and measuring
Tabor City tribune. (Tabor City, N.C.) 1946-1991, 1962-09-26


a. ~ - c'.fia,L me situation
to school officials. they get that
nous look ON their faces and
say well it's good for you. This
quality education is fine with
ne but when we. the studen,,
are ruled. regulated. and over
supervised - it's too much. A
SnacS break isn't the most I'M
portant thing in the world but
Try telling that to your stomach
when It's growing"
Jill laughed and heartily
agreed, Il know il, About the
middle of third period. every
one looks as if they are going
tn q OPP out. Industry approves
OF the coffee break because il
has been proven that efficiency
is boosted by coffee break.
| know overall grades would
improve if we had break. II
might be interesting and re-
NCaling to school officials if an
experiment were conducted to
sec if grades improven when
students were given a snack
break.
Jack was eager to insert. Il
wish the great men who sit
!" raleigh and hand down
these decisions had to abide
by them. How would they feel
II they had To work straight
through the morning without a
hrca'hCr? They couldn't take
IL It's easy for them to say
what is best for us but WHAT
ABOUT ASKING THE STU
DENTS?"
Jill shrugged. oh. let's for
get it. One of the worst things
tn try Ia accomplish is to make
government see your side"
BY this time the two had
come Ia Jacks home. We'll. "
lac yelled back 10 Jill. III see
YOU later. Right now. I'm going
Ia &c; something to cat"