davidaulloa/AmericanStories huggingface dataset:
Evening star., 1962-01-07
STOCKS
Influx Of Shorpsters
Brings SEC Inquiry

are the sale of worthless stocks
and the manipulation of stock
prices. In some cases, the COM
pany whose stock is sold is
small but sound. The price of
the stock, however, when the
promoters go to work on it,
bears no relationship to the
prospects, earnings or assets of
the company.
How Promoters Operate
Here's how the SEC investi-
gators say the promoters are
working in Washington:
They decide to offer public
ly not more than 100000
worth of stock. That exempts
them from some of the SEC
disclosure rules. The SEC
checks the statements in the
proposed circular to investors
to make sure there is no false
statement. These under-$300,-
900 issues. however, are ex-
empt from providing a certi-
fled financial statement from
an independent CPA.
While SEC is clearing the
offer of stock, the promoters
are busy. Their statesmen, work.
ing under cover, are spreading
the word that a hot issue is
about to come out. The broker
dealer is alerting his favored
customers that the offering is
Junk" but that they can make
a quick profit.
Get Out After Quick Killing
When SEC notifies the under
writer of the stock issue that
all is in order and he is free to
start selling to the public, the
sale starts at, for instance, SO.
That gives him 100000 shares
to sell.
He makes 10000 shares avail
able to the public but keeps
back 10000 for the insiders
relatives, friends, employees of
the underwriting broker-dealer,
officers of the company selling
the stock, and some favored
customers who know in advance
they are going to make a quick
killing and get out.
Within a day or a week, the
underwater notifies SEC that
all the stock has been sold and
the trading starts. This is where
the manipulation really gets
underway. The underwater ar
ranges with another dealer to
place bids and offers for him,
Evening star., 1962-01-07

guaranteeing to furnish stock
to fill the orders. The stock is
from the "insiders"-the first
in and the first out.
The underwater and the
other dealer artificially create
trading, pushing the price up a
fraction or a point every day.
This is accomplished by pegging
the price above the highest bid
of any dealer for the previous
day.
Meanwhile, the statesmen stay
busy. They make random calls
picking names out of the
telephone book. What they say
is lot more glowing than what
appeared in the literature
cleared with SEC. This creates
a demand for the stock being
rapidly unloaded by the in
Siders.
When the promoters manage
to drive the stock up a few
points or even more, when the
public is buying this hot" is
sue with its fancy electronic
name and when all the insiders
are out, the plug is pulled.
The underwater and his
chums have lost interest in
playing around with the price
because they're out of it. Trad
ing ceases and the stock COL
lapses.
Regulations Violated
In the course of their activi-
ties, however, the promoters
have violated half a dozen SEC
regulations - including their
failure to disclose that insiders
have a substantial block of the
stock held off the market and
sold subsequently at artificially
created prices.
Tracing these violations is the
nub of the enforcement drive
here. SEC officials said they
are looking at both past and
present stock offerings to spot
the stocks that skyrocketed and
collapsed. They also are inter-
viewing victims to find out how
they were lured into buying
these "cats and dogs"
The victims were described
as retired Government workers
seeking to bolster their fixed
incomes, housewives who hap
pen to be at home during the
day when fast-talking statesmen
call, and doctors who as a class
are considered among the inno-
cents in the world of high fl
nance.
SEC Offers Advice
The SEC investigators have
this advice for prospective vic
tins:
Know the stock broker with
whom you do business.
Find out if the stock is regis
Evening star., 1962-01-07
STOCKS
Continued From Page A

month of fraud and deceit
against investors by distribut-
ing sales literature containing
incomplete, flamboyant, mis-
leading, deceptive and untrue
statements of fact"
Enforcement Staff Enlarged
The growing concern at SEC
headquarters over theoretically
'hot" issues with more promise
than production being peddled
by Washington newcomers
made Washington the first tar
get when SEC expanded its en-
forcement arm recently.
The situation had gone be-
yond the ability of the SEC
regional office here to control.
With less than a dozen enforce
ment attorneys and investiga-
tors, the regional office was
responsible for protecting in
vestors in five States as we'll
as the District.
In the past six weeks, the
task force dispatched from
headquarters has doubled the
investigative force in the re-
gional office. 1t brought in
vestigations long underway to
the point where the SEC could
act and launched a number of
others.
SEC in Cleanup Campaign
We're out to clean up the
whole REGION" an SEC official
said. We're working on mis-
representation and fraud in
the sale of securities by broker
dealers and their statesmen as
well as promoters of question
able stock issues.
We're also interested in the
activities of insiders and others
closely allied with the issuers
of the stock and the broker
dealers"
The promoters, according to
SEC investigators, are more
sophisticated in their approach
here than they were in New
York before that State and the
SEC moved in to shut down
the boiler rooms" In these
rooms fast-talking statesmen at
a barrage of long distance tele-
phones conned the gullible all
over the country into buying
worthless stocks.
The two practices hurting
the small investors most here
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-03-11
kARBW
Dinner Set

The District Chapter of the
National Association Of Rail-
way Business Women will
hold its second annual Public
Affairs Dinner on Tuesday
for Presidents of Washing
toms principal women's clubs.
The $50 pm. event will
take place at the Dodge
House.
Mrs. Geraldine Austin OF
the Pennsylvania Railroad,
Philadelphia, district director
of NARBW District /, will
give a short talk on the
national public affairs pro-
gram of the organization.
Also speaking will be Miss
Frances Krimmel Of Wash
ington, manager of the
Women's Division, Public
Relations Department, Asso-
citation Of American Rail-
roads, who will discuss the
public interest in a balanced
national transportation sys-
tenn.
Following this program
there will be a film Science
Rides the High Iron" will be
shown.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-03-11
MODELLING IN MINIATURE

Bruce G. Meyer, executive
secretary, of Austin, Tex.
and Miss Floy johnson, edi-
tor of the fraternity's ma
tional magazine, also of
Austin.
Mrs. Lee Guest Hadin is
chapter president.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-03-11

honor three of its national
officers at an 8 pm. recep-
ton tomorrow.
To be held in the alumni
lounge at George Washing
ton University. the reception
will honor Mrs. Robert E.
Sturgeon, president, Of
Bloomington, Ind; Mrs.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-03-11

Mrs. Etienne L. Cloud Of
Mclean, Va, announces the
engagement Of her daughter
Nancy Lee to Mr.. William
Kenneth Wilson, jr., son of
Mr.. and Mrs. Wilson, ST., of
Cheriton, Va. The BRIDE
elect is also the daughter Of
the late Mr.. Cloud. A July
wedding is planned.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-03-11

Sets Fete

The National Capital chap
ter of Theta Sigma Phi, a ma
tional professional fraternity
for women in journalism, will
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-03-11
Women Of War

The American chapter Of
the Daughters of the Ameri-
can Revolution will meet at
8 pm. tomorrow at the home
Of Miss Mary E. Mitchell.
The program will be "Ameri-
can Women of the Revolu-
tionary War"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-03-11
Sneod-O'DeII

Mr.. and Mrs. Herschel M.
Snead of Arlington announce
the engagement Of their
daughter Judith to Mr.. Roger
Gene ODell. son of Mr.. and
Mrs. Corey Silcox Of Gin
Chico, Va. A summer wedding
is planned.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-03-11
McDonuId-Hervey

Mr.. and Mrs. Robert A.
Mcdonald announce the en-
gagement of their daughter
Nancy to Mr.. H o m er
Vaughan Hervey, son Of Mrs.
Ambolyn Vaughan Hervey of
Texarkana, Tex. A July we'd
ding Is planned.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-03-11
Chong-Huske

DR.. and Mrs. Tennyson P.
Chang of Bethesda, Md; an
nounce the engagement Of
their daughter Meris to Mr..
Gene Huske, son of Mr.. and
Mrs. Raymond Huske of Mil
waukee, Wis. A June we'd
ding is planned.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-03-11
Hinson-WheeIer

Mr.. and Mrs. Lawton Mer-
rift of Riverdale, Md, an
nounce the engagement of
Miss Jacquelyn Hinson to
Mr.. Ralph M. Wheeler, son
of Mr.. and Mrs, w. H.
Wheeler of Minot, N. Oak.
Miss Hinson is the daughter
of Mr.. Levi Hinson of Fitz-
gerald, Ga, and the late Mrs.
Hinson. A May wedding is
planned.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-03-11
ENGAGED
FIocks-Musinter

Mr.. and Mrs. Karl w
Flocks announce the engage
ment of their daughter
Margery Lynn to Mr.. Edgar
Martin Masinter, son Of Mrs.
Ralph Leon Masinter of
Hunting, w. Va, and the late
Mr.. Masinter. An early July
wedding is planned.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-03-11
Moher-Mumnert

Mr.. and Mrs. William Kelly
Maher of Bethesda announce
the engagement Of their
daughter Mary Patricia to 1t.
Dale Robert Mummert, USN,
son Of Mr.. and Mrs. Nevin
Cornelius Mummert of York,
Pa. A May wedding is planned
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-03-11

Additional Engagements. Puse ELS
Jackson advocate. [volume] (Jackson, Miss.) 1939-current, 1962-04-21
New Relief from
GAS,hEARTB

WASH, ID. C. - Now q remarkable
stomach renledy. called PUSH. has f.
proven Ingredients which quickly re-
iieve gas pains, heartburn. belching,
Jackson advocate. [volume] (Jackson, Miss.) 1939-current, 1962-04-21

ed originally. One has been re-
instated-Joseph Richardson OF
Kansas City.
Jackson advocate. [volume] (Jackson, Miss.) 1939-current, 1962-04-21

Applicants must be American
citizens and at least 10 years
Of age. There is no upper age
limit; persons 60 and older are
performing key Peace Corps
jobs overseas). Married couples
without dependent children may
apply, providing both qualify.
At the testing centers, each
person will be given his choice
between two types Of Placement
Tests. One is for men and wo-
men who would like to be con-
sidered for positions as teachers.
For this, a bachelors degree is
required, but you do not need
to be an accredited teacher.
The other test is for everyone
elso who wants to serve in the
Peace Corps. While some prof.
ects call for technical skills,
many others require men and
women without such formal or
specialized training. Among
these are liberal arts graduates
for community development
projects and people with general
farming backgrounds for agri-
cultural projects.
A list of testing centers is
Jackson advocate. [volume] (Jackson, Miss.) 1939-current, 1962-04-21
Denver Host -.
CONTINUED From Page One)

Continued From Page One)
Cole Junior High School, Frank
lin and Lafayette Streets, var
ious churches will be used for
Curtis Streets. The (78) sew
enty eight classes will be held
in Manual High School, Frank
lin and Williams Streets and
that all plans are complete for
the entertainment of delegates
to this session.
The general sessions of the
Congress will be in the Denver
Municipal Auditorium, 18th and
Rev. S. L. Lyons. Co.. Chairman,
ministers and laymen Of all de-
nominations gave assurance
special groups.
The Congress opens official
ly Tuesday at IL Noon. The
Pre-Congress Musical will be
Monday night June 18th.
Mr.. H. V. McDaniels, 933 East
Jackson advocate. [volume] (Jackson, Miss.) 1939-current, 1962-04-21

oath Avenue, Denver, Chairman
Of the Housing Committee
states that there will be homes
to house the many delegates.
There will also be (13) motels
and (22) hotels available and
plenty of taxi cabs to serve to
any part Of the city. Special
bus transportation has been pro-
vided to run from the schools
and churches where the various
sectional meetings are being
held to the Denver Municipal
Auditorium for the general as
sembly.
Jackson advocate. [volume] (Jackson, Miss.) 1939-current, 1962-04-21
presenting the parents. Accord

presenting the parents. Accord
ing to reports the young pro-
fessor had agreed to certain
stipulations to be Immediately
acted upon by him.
He was arrested the second
time after the Attorney for the
girls parents talked to him in
regard to the stipulations in the
agreement which he had ignor-
ed, and regarding which he
gave no indication of a willing
ness to voluntarily abide by.
Upon being arrested the Sec
ond time, he was released after
posting a $1,000 bond.
Jackson advocate. [volume] (Jackson, Miss.) 1939-current, 1962-04-21
SteelWorkers To Push Non Bias
Clause In Contract Negotiations

Pittsburgh, Pa.-David J. Nc
Donald, president of the United
Steelworkers of America, an
nounced that the Union would
push for inclusion of non-dis-
elimination clauses in all con-
tract negotiations.
1t will do so, he said, in con-
formity with it's policy to COM
pletely eliminate all discrimina-
ton in employment. His an
nouncement followed successful
negotiation of non-discrimina-
ton clauses with the major basic
steel companies last week.
Mr.. Mcdonald said agreement
on the clause was first reached
with the United States Steel
Corporation on Monday, April 2,
followed closely by similar
agreement with Bethlehem,
Jones & Laughlin, Youngstown
Sheet and Tube, Colorado Fuel
& Iron, Republic, Wheeling,
Pittsburgh Steel, and Armco.
Great Lakes and Inland Steel
had signed similar agreements
prior to. the opening of the
1862 negotiations.
Agreement in this important
area marks the first time in
the 25-year history that the
USWA has been successful in
covering a majority of it's men,
bers in basic steel by contract
language which fully protects
them against in-plant discrim-
lnaClOn because OF race, color,
religion Or national origin.
Wires have been sent today
to President John F. Kennedy,
Vice President Lyndon B. John
son, and Secretary of Labor Ar
thur ]. Goldberg. Chairman
and Executive Vice Chairman
respectively of the Presidents
committee on Equal Employ
ment Opportunity, giving them
details of the agreement.
Early in 1861, President Nc
Donald directed Francis C.
Shane, Executive Secretary of
the Unions Committee on Civil
Jackson advocate. [volume] (Jackson, Miss.) 1939-current, 1962-04-21

Federal Form No. 38 with each
Union which represents en-
ployees in the plants, specify
ing the same policy. We antici-
pate a high degree of coopera-
tion on the part of all the COM
panies which have or will sign
this agreement. It offers us
all a great opportunity to show
the manner in which democracy
can really be applied to its full
est under good Labor Manage
ment relations"
Jackson advocate. [volume] (Jackson, Miss.) 1939-current, 1962-04-21

given:
Columbus, 36-10, Room 2O7,
Post Office Bldg.
Greenville, 36-11, Room 208,
U. S. Post Office & Courthouse.
Gulfport, 1912, Post Office.
Hattiesburg, 1918, Main Post
Office.
jackson, 1914, Room 238, U.
S. Post Office.
Meridian, 36-15, Main Post
Office.
Oxford, 36-16, Main Post Of
flee.
Greenwood, 36-17, Main Post
Office.
Natchez, 1918, Main Post
Office.
Jackson advocate. [volume] (Jackson, Miss.) 1939-current, 1962-04-21


a series Of actions by the Union
which were designed to make
a non-discriminatoin clause the
subject for negotiation during
the 1852 meetings.
A letter was sent by Presi-
dent Mcdonald to all Interna-
tional and Local Union officials
on June 81, 1861 accompanied
by copies Of the Steelworkers
Statement of Principles on
Civil Rights" and Presidential
Executive Order on Equal En-
ployment Opportunity No. 10,-
925. The letter directed that
both documents be fully imple-
mented at all levels of Man
agement-U Union relations.
On November 10, 1861 Co
General Counsel for the Union,
Elliott Bredhoff, and Mr.. Shane
met with the Administrative
Staff of the Presidents Com
mittee on Equal Employment
Opportunity and, informed them
that the Union was moving to
request all companies with
which the Union holds collective
bargaining agreements to join it
in a joint declaration in support
of the Presidential Order.
A letter from President David
]. Mcdonald requesting this CO
operation and specifying the
manner in which existing en-
ployment practices would be re-
viewed at the plant level wher-
ever discrimination was alleged
to prevail was sent early in
December to over 1900 COM
! panies. More than 500 have re-
piled to date with 440 agreeing
to review practices where con-
ditions indicate need for such
action.
Following a number of meet
ings at the Joint USWA-In-
dustry Human Relations Re-
search Committee level, the mat
ter was finally included as a
bargainable issue in the Unions
Wage Policy Statement which
was adopted on February z,
1862.
The non-discrimination clause,
which does not cover hiring,
fully guarantees the free move
ment Of all employees after
hiring. Buttressed by the strong
new seniority agreement, all as
poets of apprentice training and
promotional opportunities are
open to any employee who quail
flies under the conditions pro-
vided for in the seniority Sec
ton.
Mr.. Mcdonald said, "There is
no question in my mind that
the inclusion of the non-discrim-
nation clause in the agreement
means the beginning of the end
to discrimination in basic steel
plants. 1t is our intention to
negotiate similar clauses in the
contracts of all companies with
which we have negotiations
scheduled. In the matter of hir-
ing, all of the basic steel produc-
ing companies and many of the
fabricating companies are either
prime or secondary tier con-
tractors with the Federal Gov
eminent. AS such they are re-
quired to file a Compliance Re-
port with the Presidents Com
mittee which specifically states
their intention to hire without
discrimination.
"In addition, each must file
Jackson advocate. [volume] (Jackson, Miss.) 1939-current, 1962-04-21
Peace corps 80.

Continued From Page One)
TO take the tests. They will be
accommodated on q "space avail
able" basis at the testing cen.
tiers.
Peace Corps opportunities
abroad cover many fields
teaching, nursing, engineering,
plumbing, carpentry, agricul-
ture, medicine, home economies,
architecture, city planning, ge-
ology, physical education.
Jackson advocate. [volume] (Jackson, Miss.) 1939-current, 1962-04-21
Local Prof

Continued From Page One)
parents Of q young girl with
whom he had q courtship.
The youthful professor, Har-
old Dorsey, was arrested on
the same charge a week earlier
but was released without bond
after Attorney Sidney R. Tharp
conferred with the attorney re-
Jackson advocate. [volume] (Jackson, Miss.) 1939-current, 1962-04-21
u. S. Judge
Continued From Page One)

to the state court.
In doing so he said he would
not presume that any OF the
Judicial Officials of the State
of Alabama would Intentionally
deprive CORE Of its constitu-
tional rights.
Circuit Judge Walter B. Jones
issued a temporary injunction
against CORE in February for
bidding it to carry on any bust
ness in Alabama.
The case was removed by
CORE to the Federal Court.
Jackson advocate. [volume] (Jackson, Miss.) 1939-current, 1962-04-21

: nausea and loss OF sleep
idue to acid indigestion.
lFUSH soothes the stom-
ZACH fast. Misery quickly
goes away. You sleep
highest. Try fast-acting
PUSH at once. IT'S
amazing what PUSH win
- for your stomach |!
Only sc at drug stores.
-AxrA~x.sS
TRG1B-0
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-10-12
Ar1nyAviation
Adding Pilots
By the Associated Press

Brig. Gen. Delk M. Oden, d.
rector Of Army aviation, says
that some surplus Air Force
pilots and even some Marine
flyers have transferred to Army
aviation.
The Army is increasing its
aviation attachments and al
ready has a shortage of thou
sands Of flyers, but the Air
Force in particular has been de-
creasing its flight crew ranks
sharply.
Gen. Oden was asked at a
news conference about the pos
sibility of relieving the Army's
pilot shortage through trans
fers from other services. He
said this is being done even
though the specialized technical
requirements of each service
limits the number of transfers.
Gen., Oden was asked about
an official report, now before
Secretary of Defense McNa-
mara, which repeatedly recon-
mends a considerable increase
in the number and types of air
craft to be used by the Army
for close support of troops.
The report was prepared by
the Armys' Technical Mobility
Requirements Board, headed by
1t. Gen. Hamilton H. Howe,
commanding general of the
18th Airborne Corps at Fort
Bragg, N. C.
: Gen. Oden declined to dis
cuss the. recommendations of
the report, but said the Army
is optimistic that Mr.. McNa-
mara will approve them.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-10-12
Citizen Groups
Ask Anti-Bias
Plan Hearings

The Federation of Citizens
Associations will ask the Dis
trict Commissioners to hold
public hearings on the city's
proposed anti discrimination
housing regulation.
The federation will urge the
Commissioners to pause for
study, elaboration and coun-
sci" before issuing a regulation
that would prohibit racial bias
in the sale and rental of private
housing.
A letter asking the Commits
sioners to give District resi-
dents a voice in the issue was
approved last night during the
federation's first fall meeting
at the District Building.
The federation also voted to
ask for congressional hearings
on the anti discrimination pro-
posal. The House District
Committee last week indicated
that congressional hearings
should be held before the Com
missioners take any action on
their proposed regulation.
Delegates to the federation
also approved a section Of the
letter that will ask the Com
missioners to appoint a COM
mittee to study legal. social
and economic" implications Of
the proposal.
The federation's letter to the
Commissioners says that the
regulation would drastically
circumscribe the rights of prop
erty owners to exercise their
will in the sale, lease or rental
OF their real estate"
In other action, the fedora
ton voted to ask the District
to consider the use of un-
balanced lanes rather than one
way streets to carry heavy
traffic through the downtown
area.
The federation also adopted
a resolution that would request
the Citizens Traffic Advisory
Board to make a study of pri-
vate as compared to municipal
parking for the city.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-10-12
Arumburu Rups
Dead Doctrine

NEW YORK, Oct. IL CAP).-
The Monroe Doctrine is dead,
former Argentinian Provisional
President Gen. Pedro E. -Aram-
buru said yesterday.
The doctrine is more than
100 years old, Gen. Aramburu
told a news conference in the
Overseas Press Club. Now he
said. different formulas are
needed"
He warned that unilateral
United States action against
Cuba would seriously damage
this country's standing in the
Americas.
IF you did So" he said. "it
would magnify the fears of 9TH
er American countries of pos
sible intervention in their own
affairs by your country
Gen. Aramburu said the way
to meet the Cuban threat is
by co-ordinated hemisphere
planning, by leveling moral and
material sanctions"