davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
ON WINGS

The non-airplane rider and
the very-seldom one comprise
a market the airlines have
been sighting-in on for years.
Welcome, indeed, is any in
ducement which might start
prying loose some of that type
business.
Next week will see one of
those inducements and next
month, depending Civil Aero
nautics Board approval, will
see another.
Next week November 15)
the Governments 10 per cent
tax on transportation dies
Noting, with Understandable
relish. the levy's demise, the
Air Transport Association ex-
plains that the tax was put
on at the outbreak of. World
War II to discourage civilian
travel"
And" the Alta comments
"for more than 20 years it's
done just that"
The airlines will pass on half
of the saving tc the passenger
keep five per cent for the new
tax the Government has levied
for maintenance of the Federal
AirwayS-a user charge.
It means the average air.
line ticket will be So cheaper
On a first class jet flight from
New York to Los Angeles, it will
mean a saving o. 1894.
Northeast Airlines is the first
to produce a concrete example
of what can be done, given a
little start.
Northeast yesterday asked
the CAB for a five cents q
mile" standby fare between
Washington-New York Boston
which would include the five
per cent tax.
Standby" means showing ur
at the airport without a res
.ervation and, taking a chance
that the plane won't be full
If granted, the new rate
would cut Washington New
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
SEC Accepts Offer
In WechsIer Case

The Securities and Exchange
Commission has issued an order
under its rules of practice &C
cepting the resignation of
Nathan Wechsler from appear
ance or practice of any kind
before the commission.
The commission staff had
charged that Mr.. Wechsler had
engaged in conduct which
should disqualify him from fur
ther appearance or practice
before the SEC.
Mr.. Wechsler denied the
charges and also that he prac-
tices or enjoys the privilege Of
practicing before the commits.
sion.
He applied TO r a discontinue
ance of the proceedings and
rendered a formal writing
agreeing that he will not prac-
tice before the commission in
any way in the future. He
also grees that his resignation
is permanent, the SEC an
nOuncement, said
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
SEC Granted
Injunction
In Stock Case

The United States District
Court in Phoenix, Ariz., has
granted a motion of the Secu-
rites and Exchange Commits
sion for a preliminary injunc-
ton against Baruch and Joan
Rabinowitz of Washington en-
joining them from engaging in
acts and practices in violation
of the antifruad provisions of
the Federal securities acts, il
was learned here yesterday.
The action was taken Mon.
day. Previously on Friday the
court had granted a prelimi-
nary Injunction against Corpo-
rate Underwriters, Inc, a Phoe-
nix securities firm, and its
president. Ernest A. Ragland,
who were defendants in the
same proceedings arising from
sale of stock of Mechanical
Enterprises, Inc, of Alexandria,
Va. The decision on the firm
and Mr.. Ragland was made by
consent of those defendants.
AS previously reported, the
SEC proceedings charged mis-
representation in sale of the
Alexandria shares among other
things.
SEC officials today empha-
sized that none of the viola
lions reflected in any way on
the Alexandria company and
complimented Robert H. ivy
ford, president of Mechanical
Enterprises, Inc, and other
company officials for their CO.
operation with the commission
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
CHICAGO
LIVESTOCK

CHICAGO, Nov. z (AP) (UsDA).-
Hogs, 1000; active, butchers strong to
25 higher; sows steady to strong;
shippers took around two-thirds Of
salable supply; 1-2 10000 ID butch
ers 17.50-1S.00, around 200 head at
i i99 mixed i-S $4,000 lbs lbs 1880
1925: 2-3 260-300 lbs 16.25-16.75;
mixed 1-3 100000 ID sows 1900
1880; 2.3 4OO-500 lbs 14.00-15.00;
500-650 lbs 13.75-14.25: bears 1900
Cattle. IL, 900; calves. 100: slaughter
steers moderately active, steady to %
higher with prime steers mostly steady;
bulls and boy yeslsEs steady; load lots 1t
1925 including four loads 1,225-1,350
lbs at 1925; high choice and prime
choice 1,iOO-i $50 lbs 29.75-31. rs:
comparable grade COOL, 100 lbs 29. 25-
80. 90; load prime $40 lbs 5000; two
loads mixed high choice and prime
around 1,025 lbs 30.25-30.50: good
26.00-2S.50 few loads mixed good and
choice 1.000-l 100 lbs 29.00-29. 25:
few standard "a .00-26.00: load prime
1,096 ID heifers $3.50, highest for
heifers since May, 1859; load high
s6Oe S snS Prime eno around SS S S
2S.25-29.50; load mostly high choice
around $50 lbs 2p75; utility and COM
mercial cows 14.25-16.50: Gamers and
cutters 1l.25-14.50; shelly Gamers
bulls 17.25-19.5O: cutters 16.50-1S. 90;
standard yealers 20.00-25.00; utility
15.00-20.00.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
De-Sto-Co Votes
For Sale to Dover

Stockholders of De-Sta Co
Corp. of Detroit, Mich, have
approved purchase Of the COM
pany's assets by Dover Corp. of
Washington for $7,325,025 in
cash. They approved the sale
at a special meeting Monday.
De-Sta-Co stockholders will
receive a cash payment approx
imating $40 a share for their
stock at settlement around No
vember 80, it was announced
today by Fred D. Durham,
Dover chairman, and Glendon
H. Roberts, De-Sta-Co presi-
dent.
Under the purchase agree
ment, Dover will pay De-Sta-
Co around $5.7 million since
the full acquisition cost will be
reduced by the amount of cash
and other securities of De-Sta.
Co. Mr.. Durham said. Dovel
will use around $2.7 millior
from corporate funds and Dor.
row SO million from Insurance.
companies for the acquisition
he said.
De-Sta- AGO, formerly the De
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07

ponding 1861 period.
Sales jumped to SIS million,
a gain of $6.8 million from
1892 million a year earlier.
Mr.. Cohen said the decrease
in earnings reflected an in
classification of competition in
the company's trading area
and a rising trend in operating
costs.
"All the efforts of manage
ment are directed toward re-
versing this trend with a con-
tinued expansion program in
diverse goods and services,
coupled with rigid economies
for more efficient operation, !"
he added.
Two super markets and three
cleaning centers were opened
during the latest reporting
period, Mr.. Cohen noted.
The large new Glen Burnie
Discount Center was opened
October 20 and the new Rock
vile center will be opened on
Monday, November IL. Each of
these units contains more than
100000 square feet and includes
las departments. a complete
food store, together with q
beauty salon, a cleaning center
an automotive accessory and
service center, a car wash and
gas station. all company owned
and operated.
Sixty super markets, one dis
count center, one discount car
pet store and three cleaning
centers were in operation on
October 10 when the latest re-
porting period ended. A year
earlier IS super markets and
one discount center we're in OPP
Grafton.
The company recently COM
pleted negotiations for 81 mil
lion of additional long-term fl
nancing. President Cohen said
these funds had not been taken
down as of october Is and
would be used for expansion
purposes as required.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
BUSINESS
BRIEFS
Wholesale Food Index, based

Wholesale Food Index, based
on the cost of a pound each
of 81 foods in general use, this
week declined to $3.50 from
$3.50 last week and $500 in
the same week a year ago.
Dun & Bradstreet.
Business Failures in the week
ended November l totaled 800,
compared with 200 in the. pre-
vious week and 344 in the like
week a year ago.-Dun &
BradStreet.
Sheraton Corp. announced
that the Bahamian resort,
British Colonial, has joined the
international system of So
hotels.
TextrOn, Inc, Of Providence,
r. l., announced the purchase
of Geraldines, Ltd, of Annapo-
lis, Md, an oceanographic re-
search firm.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
Peoples Drug to Open
20 New Stores in 1863

Peoples Drug Stores, Inc, will
open 20 more new stores next
year and will open an addi-
tional six before the end of
this year.
George B. Burrus, board
chairman and president, an
nounced plans for continued
expansion yesterday in an ad-
dress before the Washington
Society Of Investment Analysts.
Pointing out that each new
store calls for an initial in
vestment of $4,000 for inven-
tory and $4,000 for fixtures,
Mr.. Burrus said capital ex-
penditures for new stores and
remodeled stores will exceed So
million in 1862 and probably
the same amount will be spent
in 1868.
Mostly Self Service
Most of the new stores are
of the self-service type, he
pointed out. I'VE recognize
that in order to increase our
profits, it is necessary to in
crease our volume of sales,
without a commensurate in
crease in the cost of doing bust
ness" he said.
In common with all Ameri-
can business, Peoples Drug
faces the problem of how to
increase or maintain profit with
the increasing cost of
doing business, the speaker de-
clared.
Retail selling space is in
creasing by millions of square
feet each year. There seems
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
O'SuIIivon Rubber Net
Far Above Year AGO

Net income of O'Sullivan
Rubber Corp. of Winchester,
Va. was $264,673 or so cents a
share in the first nine months
of this year, in contrast to $685.
500 or II cents a share a year
ago, reported Douglas o.
Grimm, treasurer and controller
Net sales rose to $7,168,546 in
the nine months, compared
with $5,798,482 a year earlier.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07

walton on any United flight in
less than five seconds.
The installation is housed on
the. second floor above two
company hangers and will be
stated by 200 reservations en-
ployees. 1t is due for compile
ton about mid-December. It
will be used for handling res
ervations and information on
all company flights serving the
Washington area.
Beginning February /, the
center also will take over all
United flight reservations cur
rently being provided by the
United offices in Norfolk.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
Earnings

Northeast AirIines in nine
months ended September 80
had a loss of $3,150,271 VS.. the
loss of $5,213,535 in 1861 period.
Flying Tiger Line in nine
months ended September 80
earned $2,621,721 or $1.81 a
share VS.. a loss of $4,000 in
1861 period.
National Bellas Hess In year
ended July 81 earned $2.121,121
or 70 cents a share VS.. 1897
459 or "a cents in 1861.
Shoe Corp. in nine months
ended September 30 earned
$1,575.463 or 81 cents a share
VS.. $1,508,949 or So cents in
1861 period.
Thriftmart, Inc, in 26 weeks
ended September 20 earned
$1,101,4 or 80 cents a share
VS.. $1,329,7S2 or $l.16 in 1861
period.
LET Circuit Breaker in nine
months ended September 80
earned $900,300 or 81 cents a
share VS.. a loss of $149,800 in
1861 period.
Other earnings included:
Eor Q Months End.A cnna.,,.k.. m
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
American Security
Makes Leesburq OffeI

American Security Corp, an
affiliate of American Security
& Trust Co., has purchased a
substantial stock interest in
the Loudoun National Bank of
Leesburg, it was confirmed to-
day by officials of the bank.
Thomas D. Carson, a vice
president and director of the
Washington bank has been
elected a director of the Lees
burg bank, Loudoun National
has assets of around SO million
and deposits of around So mil
lion.
Another Leesburg bank, Peo-
pies National, has received an
offer from Financial General
Corp. to buy all or at least one
third of IT'S stock for $500 a
share.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
Rails 81 Net
Expected 10
Be Above 81

NEW YORK, Nov. 7 (AP).-
Earnings of the Nations rail-
roads in 1862 are estimated at
$3.50 million.
In making the projection,
Railway Age, a trade publica-
ton, called the figure modest
ly improved" from 1961's profit
of 1882 million, the industry's
poorest showing since 1916.
The forecast results, it said,
would fail to lift earnings to
a level providing "a respectable
return on investment"
Railway Age said its appraisal
was promised on fourth quarter
volume a shade better than in
the like 1861 period. Earnings
for the first three quarters to-
tailed about 1892 million, il
said.
The magazine said many
lines have been running ahead
of a year ago but Gin the East
the story is largely one of re-
duced deficits"
1t said the Erie-Lackawanns
cut losses for the first three
quarters to $14.2 million from
$24 million, the Lehigh Vale!
to $3.5 million in the red from
$7.3 million and the Pennsyl.
vania to $40 million from $12.'
million.
Among the profitable roads
the Norfolk & Western, South.
ern, Louisville & Nashville
Santa Fe, Great Northern
Nickel Plate, Seaboard, Mis-
souri, Pacific, Western Mary.
land, Western Pacific and 6
number of other roads hae
larger nine month earnings.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
Dollar Here and
There Is Something
BY CHARLES YARBRoUeH

York fares from $13 to $40 and
would become effective Deem
Der 81.
- i 4 -
Trans World AirIines, ran
sacking the files for material
to help celebrate its 30th an
niversary in the business this
week, found timetables offer
ing coast to : coast in a
taking "a hours"
The same timetable also ad-
vised that mo reptiles" could
be carrieu on board and that
animals and birds would be al
lowed on the airplane only by
special permission.
Trans World - Transconti-
mental and Western Air, Inc
in November of 1932-launched
the first day and night trans
continental air passenger serv-
ice with an advertised time OF
"a hours and AZ minutes. ,
The fare: 1898 one-way.
The time is now about four
and a half hours; the fare:
AS low as $145.10.
~ = \ =
Fears have been expressed
that Dulles Airport might
make a ghost" out of Ma
tiOnal.
That the fears are foundless
was evidenced this week with
a United Air Lines announce
ment of a new quarter-million-
dollar jet-age reservations GEN.
ter at National.
The Instamatic Reservations
System, an electronic data pro-
cessing network, can confirm a
local request for a seat reser-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
Capital Bank Auditors
To Meet Tomorrow

The Audit Control and Oper-
ations Section of the District
Bankers Association will hold a
dinner meeting at the Burling-
ton Hotel tomorrow night.
The program will be con-
Quoted by the students, gradu-
ates and an instructor of the
Banking School of the National
Association of Bank Auditors
and CONTROLLERS and will stress
the Importance Of training.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07

to be no let-up in sight," he
continued.
Apparently there is an UNI
limited amount of money avail
able for financing real estate
developments. Every month we
see the opening of new chain
drugstoreS, cut-rate drugstores,
independent drugstores, syndi-
cate stores, super markets, de-
partment stores and discount
houses.
"As all of these retail stores
compete for the customers
dollar, discount pricing has be-
come very popular. Therefore
it is quite evident that as the
cost of doing business increases
and the margin of profit de-
creases, it is necessary to do q
larger volume of business in
each store"
Sales to Set Record
Peoples Drug has a policy OF
opening moderately large stores
prominently located in highly
populated new centers and to
enlarge and modernize older
stores in well-established loca-
lions, he said. Marginal stores
are being closed when they be-
come Improbable.
The company expects sales to
set a new record Of $108 mil
lion this year, but earnings will
not be as good as they were in
1861, Mr.. Burrus said. For nine
months of this year net profit
was equal to II cents a share
VS.. $1.52 a share a year ago.
He predicted that earnings
for the final three months OF
1862 will be about the same as
the $2.01 per share earned in
the same period last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
Allegheny AirIines
Has Record Profits

Allegheny Airlines had record
profits, revenues and traffic in
the third quarter and first nine
months of this year, President
Leslie o. Barnes announced.
Net income for three months
ended September 80 was $321,-
929 or 81 cents a share, COM
pared with 1928, 900 or 81 cents
a share in the same 1861 period
Three months revenues totaleo
$6,521,436 VS.. $5,472,680.
Net for nine months was
$668,873 or n cents a share
compared with $5,077 or l cent
a share in the same 1861 period
Nine months revenues totalec
$17,6 ,062 S. $15,142,541.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
GorfinckeFs Reflects
Three Directors

Stockholders of Julius Gar
finckel & Co., Inc, on Tuesday
reelected three directors to an
other three-year tenure on the
board. They were William R
Biggs, Robert v. Fleming and
Arthur Madison.
All officers were reelected.
The board Of directors also
reappointed the following ex.
ecutive committee: James M
Johnston, chairman; r. ROY
Dunn, Robert v. Fleming anc
John C. Wood.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
Dart Drug Sales
Set October Record

Sales of Dart Drug Corp.
reached a new all-time monthly
high of $680,730 in October,
with a gain of ola per cent
from $560,639 in october last
year, reported President Her.
bert H. Haft.
Sales for 10 months of this
year aggregated $6,268,473, an
increase of 1873 per cent from
$5,436,717 in the same 1861
period, he declared. Dart
operated IA stores in October,
compared with 10 a year ago.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07

troit Stamping Co., is expected
to earn close to 100000 net
after taxes this year on a sales
volume of around Sc million.
It will be operated as a Dover
subsidiary.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
THE EVENING STAR
C-A RIResMaSS (%nRkS Washington, D. C..
+ff DSSSSg ~ASSNS "Wednesday, November 7, 1862
Giant Food Earnings
Reducedby Competition
And Higher Expenses
BY DONALD B. HADLEY
Star Financial Editor

Increasing competition and rising operating costs reduced
earnings of Giant Food Inc below in "a weeks
ended October Is. but sales continued to expand.
President N. M. Cohen today reported that earnings
the "a weeks amounted to $4,000 80 share
compared with $789O0O 81 cents share in the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
TREASURY BONDS

NEW YORK (AP) Noon over the
counter us. Government Treasury bonds,
bid, asked, net change and yield for
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-07
FOREIGN
EXCHANGE

NEW YORK. Nov. z (AP).-Foreign
exchange rates (Great Britain and
Australia in dollars, others in cents
and decimals of q cent?:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-02

do all in our power to pre-
serve this peace.
ITO that end, we have moved
together with our sister repub-
lies in this hemisphere,
through the GAS, as well as
in the United Nations, to bring
an end to the new and serious
threat to peace created by the
rapid and secret introduction
of offensive weapons systems
with nuclear capability into
Cuba by the Soviet govern
ment.
I'VE are gratified that Chair
man Khrushchev has agreed
to withdraw these weapons
from this hemisphere. The &C
tons now being taken to i'm
plement this decision may, if
successful. lead to the liqui-
dalton of this threat as well
as the possibility of steps to
abate other tensions endang-
ering world peace"
The President made no spe-
cific mention of the snags that
Cuban Premier Fidel Castro ap-
parently has thrown in the
way of completing arrange
ments for United Nations in
spectors to check on the dis
mantling of Soviet missile sites
in Cuba.
His message indicated hope
that the arrangements still
may be completed soon.
Fear Fighting in India
The interparliamentary con-
ference resolution expressed
deep concern that the threats
to peace arising out of the
Cuban crisis and fighting be-
tween Chinese Communists and
indian forces. 1t appealed to
all governments concerned to
avoid any actions which might
lead to general conflict.
With regard to the conflict
on the Sino-Indian frontier,
the President said: II deplore
this further instance of armed
aggression by Com m unis t
China and hope that that
state can be, persuaded to
abandon its fragrant violation
of the territorial integrity of
its neighbors."
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-02
Diver to Resume
Treasure Hunt in
Caribbean Area

OCEAN CITY, Md, Nov. 2
CAP) - A, skin diver is on his
way back to the Caribbean on
the same treasure hunt that
ended last year when he and six
shipwrecked companions were
captured by the Cubans.
Gordon Patton, still an ac-
tive skin diver at 81, is going
along as a crewman, instead of
captain, this trip. Fred Dixon
OF Ocean City is skipper of the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-02

Question Mark, which will sail
a course well to the east of
Cuba.
The cabin cruiser will stop off
in Miami to pick up crew men,
bers. The voyage into the trou-
bled Caribbean area has the
approval of the State Depart
ment, Mr.. Patton said.
He was skipper of an Inflated
treasure hunt which ended last
April 5 when the ship floun-
dered off the coast of Cuba.
He and six others were cap
tured by the Cubans and
branded as spies.
The Castro government later
acknowledged the men as MEM
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-02
President Voices Hope
In Note to Brazil PorIey

President Kennedy says sue
cess of efforts now underway
to assure peaceful settlement
of the Cuban crisis may lead
to 1.-The possibility of steps to
abate other tensions endang-
ering world peace "
The President sounded this
optimistic note in a reply late
yesterday to a resolution
adopted by the Inter-par-
liamentary Conference in Bra
iii that urged settlement of all
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-02

bers Of a party hunting treasures
for Mr.. Patton's marine mu.
scum in Ocean City. All seven
were freed and returned to the
United States in three days.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-02
FOR SALE

IS of real estate located approximately Ia miles
west Of Winchester on hard surface road 1881 i'm
proved by the above J brick dwelling, bath
and holt, oil heat, 3 garage, large poultry
house 32x220 frame and block with running voter and
electricity room hunting lodge with running water and
ing terms be arranged brokers protected. Price,
$2995000 For complete information contact julien
A. Every, Manager Federal Lcnd Bunk Association of
Winchester, As E. Boscuwen ST. Winchester Va, Monday
thru Friday, 500 AM to 500 PM telephone 6623 479
After 500 PM. weekend can be contacted at
Boyee, Va. W..
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-02

international disputes through
negotiations without resort to
force.
Cites u. S. Incentive
MY country and its peo-
Pile" the President said,
would suffer perhaps more
than any others in the event
of major breach of world
peace. Hence, we have as great
an incentive as any state to
Arizona tribune., 1962-05-11

William M. Junior" Mosley,
was elected as boys represen-
tative of his class to the student
council at Tempe High School.
Junior is a member of the
school football, baseball and
wrestling teams.
He is a member of Willow
Grove Baptist Church and he
participates in youth church ac-
tivities.
For the past four years he has
been the all around star carrier
of The Arizona Tribune.
He is the son of Mr.. and Mrs.
w. M. Mosley, 3225 S. 40th.
Arizona tribune., 1962-05-11

Miss Brenda Elaine Hightower
daughter of Mrs. Hazel Wafer.
922 B. West Tonto Street. is
one of the busiest young ladies'
in town.
This l8 year old senior at,
Phoenix Union High School main
tains a two average plus partic->
ipates in several school activi-
ties including the A Capella choir.
She is a featured singer with
the KRIZ Roadshow and she often
appears as soloist on various
programs.
Brenda was Links Debutante
of 1862. also.
She has been a 100 per cent
MONA spelling champion for the
past three years. She would like
to be secretary.