davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-02-28

A two-mile stretch of Riggs
road in Prince Georges County
is in such poor condition the
um-Adelphi Fire Depart
ment refuses to route it's equip
ment over it.
This is the pot-holed situa-
ton existing between Univer-
sity boulevard and the District
line, even though the fire house
fronts on Riggs road and trucks
often must 60 out of their way
in answering alarms.
Chief James F. Dorsey made
it clear today that the decision
to avoid the chopped-up road
was not an easy one.
. cts hard on the equipment, :"
Mr.. Dorsey said. Eve almost
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-02-28

THEY WANT freedom
from shackles they forged
for themselves, the protec-
tive regulations of the Inter-
state Commerce Commission,
which protect them from
competing with one another
but of little. protection
against truck and barge.
= In two days this special
train moving West to Cum
nerland on the tracks of the
Western Maryland and back
to Washington on the B&O
fed more than 200 business
men at breakfasts, lunches
and dinners at Westminster,
Hagerstown, Cumberland,
Martinsburg, Frederick and
Rockville.
Their hosts, rail executives
Of both lines, made brief
talks and answered questions.
The question of an execu-
tive of a cement manufac-
turing plant was typical.
The limestone areas of the
Alleghenies have many great
portland cement producers.
This man said that it
wasn't as much a matter Of
rates as of service. Did the
BRO have anything like the
newest trucks designed for
the cement ii1dustry? Tiiese
trucks unload without man
power. Blowers blow the
powdered cement through
tubes. III ~ d
Chester Williams Eastern
operational manager for the
BIO, answered that if the
railroad had the money it
would be able to provide
many of the new types of
equipment that various in
dustries are demanding.
How does it keep going?
Well, the BIO is still a
very valuable property, worth
something in the neighbor-
hood of a billion-a thousand
million, that is.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-02-28

1T CAN STILL borrow
money, especially when it
makes a showing of efficient,
economic management.
And that is what it is doing
under it's new president,
Jervis Langdon, jr.
Everyone wanted to testify
about the big change that
has come over the BIO since
Langdon became president
last June.
Jervis Langdon is one of
the Elmira IN. " Langdons,
born with the silver spoon.
His great grandfather, the
original Jervis Langdon, gave
his daughter in marriage to
Samuel Clemens mark
Twain. An aunt was the
wife of E. E. Loomis, pres
ident of the Delaware &
LackaWanna. Jervis, jr.,
went into railway law from
Cornell.
2 He is tall, strong and
direct. He left the train
Monday morning at the first
stop, Westminster. He Joined
it again last night at Rock
vile for the last leg into
Baltimore.
7 In his absence much of
the talk was about what he
is doing to rebuild the ailing
nne-new track of heavier
welded rails, rehabilitation
of rolling stock and advance
rnent of youth in the man.
agerial ranks.
One story had the quality
Of Columbus making an egg
stand on end. You remember
he broke it slightly to make
It stand.
1--WE seemed to be ruled
out of the piggy back bust
ness because our tunnels did
not have high enough clear
ance," said a BIO executive.
piggy back is the term for
the shipment of trailer
trucks loaded with goods on
flat cars.)
Engineers said the cost of
blasting the roofs of the
tunnels to get more clearance
would be prohibitive.
"Mr. Langdon suggested
that it would cost much less
to dig out the floor of the
tunnels and lower the rails.
"That's what we're doing"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-02-28
GO. P.Leoders Uroino
Butler to Run Aqoin

Ter indicated that he might re-
consider under certain circum-
stances and promised to give a
definite answer tomorrow
Mr.. Rinehart said there is
quite a demand for him to
reconsider" He said Senator
Butler definitely would have
the backing of the State Re-
publican Executive Committee
if he chooses to run again.
There has been some specula-
ton that former Republican
Gov. Theodore r. McKeldin
might seek Senator Buffers
post. Mr.. McKeldin also is a
possible candidate for Governor.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-02-28
BY a Star Staff Writer

ANNAPOLIS, Feb. 28.-Some
of Maryland's Republican lead
ers are urging Senator Butler
to run for reelection this year.
Senator Butler announced last
December that he will retire
from the office he has held for
II years because compelling
personal reasons leave me with
no other choice but to yield to
them" He did not elaborate.
Several State G. o. P. leaders
met with Senator Butler yester-
day to urge him to reconsider.
Party Chairman D. Eldred
Rinehart said that Senator But
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-02-28
WINTERED IN ANTARCTICA
Scientist Heard Star Shhh

Moscow through all the rooms, -
he said. Il went to congratu-
late them before they even
knew about it,"
Had to Walk
On the few good summer
days, Mr.. Gilmore walked three
miles; and back over ice to a
penguin-f titled island. Unlike
the American base, there were
no vehicles or helicopters at our
disposal" y
Mr.. Gillsnore; who. ate pota-
toes. :isoodl fish and beef la
cans for months, "got off the
ice" last month. While he
thinks a summer at McMurdo
might be all right, he has no
desire to winter over" again.
He will spend the next nine
months at the National Bureau
of Standards in Boulder, Colo..,
translating his riometer find
ings.
"A surprising amount of in
formation is passed back and
forth between the countries in
the Antarctic. Under the IA
nation treaty. any country can
inspect any others bases. This
lis really one peaceful area in
the world - unfortunately a
fairly unique spot at the
moment"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-02-28
Bill Authorizes CITY
To Double Dog Corps

Representative Davis, Demo-
crat of Georgia, has introduced
legislation authorizing a canine
corps OF 100 dogs for the Wash
ington police force.
The force is now authorized
so dogs. Forty-eight dogs are
currently employed.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-02-28

He was in private law prac-
tice here from 1880 to 1912
and was a faculty member at
his old law school from 1896
to 1910.
In 1912 he joined the Justice
Department as an assistant
United States attorney and re-
signed in 1851 as the first as
sistant in the Tax Division.
Judge Malloy lives at 58O6
Nevada avenue NV. He is
married and has thre children.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-02-28
awes Backs Bill
On Apportionnrant
Kennedy to Reoppoint
Judges Quinn, Mo||oy

The White House announced
today that President Kennedy
will reappoint Judge Thomas D.
Quinn of the Municipal Court
of Appeals and Judge John j.
Malloy of Municipal Court to
new 10-year terms.
The announcement said the
President intends to reappoint
both men but their names have
not yet been sent to the Senate
for confirmation.
Both judges are Democrats
and were named to their pres
ent terms by President Truman
in November, 1851. Judge NAL
10y replaced Judge Quinn on
the Municipal Court bench.
Their terms actually expired
Sunday but under the law they
remain in office until success
sors are named. Both men were
recommended for reappoint-
ment by the District Bar Asso-
citation.
Quinn Named in 1943
Judge Quinn, So, was named
a Municipal Court judge by
President Franklin D. Roose-
welt in 1913. He served in
both the criminal and civil
branches until President Tru-
man elevated him to the three
judge appeals court in 1851.
A native of Portsmouth, N.
H., he was graduated from
Georgetown Law School in 1925
and admitted to the District
bar in 1926.
The next year he joined the
Federal Bureau of Investiga-
ton as a special agent and ad-
vanced to assistant director,
resigning in 1887 to become
administrative assistant to four
Attorneys General in succession.
Judge Quinn is married and
lives at 1910 Stephenson place
NV. His son, Thomas D. !
Quinn, jr., is a former assistant
United States attorney now in
private law practice.
MallOy Native of Louisiana
Judge Malloy, Sc, is a native
of New Orleans. He came to
Washington in 1927 and was
graduated in 1929 from the old
Washington College of Law,
now a part of American Uni
versity,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-02-28
The
Rambler
Worries
3" About the Rails
BY GEORGE KENNEDY

Just imagil4 e losing. $31
: million in a year. ..t
= AS one reporter said, "You
could buy a couple of news
papers with that kind of
money"
And what to do about it?
The Rambler had enough
to worry about without TAX
ing this one on.
y When he accepted an in
vitation to spend a couple of
days on a railroad train, it
was just for the ride.
! Now he is all involved In
the problems of that great
trunk line to the West,
Americas oldest railroad, the
Baltimore g. Ohio.
BIO lost more than $50
million last year-$31 800, 600,
to be exact.
How does it keep going?
His observation is that
there is a lot of life in the
old line.
This excursion was the
sixth staged by railroads in
the East and Midwest to
acquaint the public with
their plight.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
Short Selling Highest
Since September, 1858

sales, and there are income tax
rules to be rem m b ere d.
(Round lot short sales can be
made only after there's been at
least a fractional price in
crease in the stock
That's why short sellin G
takes strong nerves. And it is
a particularly risky game for
the novice, much as he may
be attracted right now by the
long slide in stock prices and
all the bearish talk about the
future.
On July Is the total short
position in stocks listed on the
New York Stock Exchange was
5,l58,849 shares, hi he st in
nearly four years, and a gain
of 546.88 shares since June 10.
But the biggest monthly jump
since the exchange S start g d
gathering the figures in 1881
was the May 16 to June Is in
crease of 1,345,088 shares.
The record high number of
shares sold short was 6,087, 1856
in July, 1858.
The latest figures indicate
that on Friday, the 18th, bear
ish sentiment in Wall Street
or Main Street was the highest
in four years. OF the 1.547
stocks listed on the big board,
a short position had been TAX
en- in ,044.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
BY SAM DAWSON
Press Financial Writer

NEW YORK, July 20 - One
way to make money on a bear
market is to sell your stock
when it is still fairly high
priced and buy it back at a
lower price. That way you keep
your portfolio intact and have
some cash on the side.
Another is to sell stock you
don't even own, expecting to
buy it at a lower price later to
replace the shares you bor-
rowed from your broker, and
pocket the profit. That's called
short selling.
And right now there's more
stock sold short than at any
time since September 1858. And
brokers say there apparently
also has been a lot of selling
of stock actually owned with
the aim Of replacing it at a
lower price.
The trouble with either way
of making money - as with
many other schemes for beat
ing the markets. that it
doesn't always work.
The price of the stock sold,
either your own or borrowed,
may go up instead of down
Then you're out of pocket.
And the stock exchanges
have rules governing such
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
Exchange Notes
Record Drop in
Customer Debts

NEW YORK, July 20 (AP),.-
The amount Of money borrowed
from New York Stock Exchange
member firms for stock pur-
chaSes declined more sharply
in June than in any month in
more than 80 years, the ex-
change said yesterday.
A Big Board announcement
said customers net debit bal
ances carried by member firms
dropped 1897 million in June
to 1881, 100000 the lowest
since February, 1861.
The June decline, the largest
for any month since debit bal
ance data were first collected
in November, 1881, brings the
total 1862 decrease in debts to
$657 million" the announce
ment said. r.
The customers net debit bal
ance is considered a good ba-
rometer Of margin purchases.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
House Unit Votes
Bill to Permit
AniIine Sale Now
BY the Associated Press

Legislation to permit sale of
the war; time seized General
Aniline g. Film Corp. without
waiting for the end of prolonged
litigation was approved yester-
day by the House Commerce
Committee.
The committee sent to the
House with a favorable recon-
mendation a bill that would
authorize the Attorney General
and alien property custodian
to sell the huge chemical firm
and deposit the proceeds in a
special trust account. pending
a judgment in the 14-year- old
lawsuit over its ownership.
The property has a book
value of $l40 million. but is ex-
pected to bring much more il
sold. The company was taken
over as German enemy prop
erty during World War II, but
a Swiss group contends it is
J the real owner.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
ATTEND BANK GROUNDBREAKING
BUSINESS
BRIEFS

Crude Oil Stocks on July Il
totaled 245 ,242,000 barrels, in
creasing 2,722,OO0 during the
week. Daily average production
was 100000 barrels last week
down 1000 from the week be-
fore Bureau of Mines.
Intercity Truck Tonnage in
"a metropolitan areas last week
rose $50 over the like week of
1861 and 14To over the pre-
ceding, holiday week.-Ameri-
can Trucking ASSns.
Iron Ore, Coal and Grain
Shipments on the Great Lakes
up to July totaled 44.495, 778
tons VS.. 35,357,651 in the 1861
period.-Lake Carriers Assn.
Primary Aluminium produc-
ton in first half was 1,042 .258
tons, a record and 14.29o higher
than the total a year earlier.
Second-quarter output of $780,
992 tons also was a record.
Martin Marietta Corp. has
moved its world headquarters
from Baltimore to Park avenue
in New York.
st. Lawrence Seaway cargo
traffic last month rose 21.4%,
compared to the June, 1861
figure, 81 million tons.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
New Savings & Loan
Approved in Virginia

The Virginia State Corpora
ton Commission has certifi-
Gated the new Fidelity Savings
and Loan Association to begin
operations in the Shirley high
way and Seminary road section
of Alexandria.
More than 900 persons have
subscribed to more than So
million of Glass A voting stock
and Glass C saving shares in
the corporate savings and loan.
Routh M. Robbins is board
chairman and senior vice presi-
dent, while Donald E. McNary
is president. Other officers are
John C. Ferrara and Timothy
j. SWEET, vice presidents; James
M. Thomson, secretary; James
N. Hayman, treasurer.
In addition to Chairman Rob-
bins. President McNary, Mr..
Thomson and Mr.. Hayman. di-
rectors include H. w. Brawley,
Paul M. Denny, R. Marshall
Fitton, Mark Fried. James T.
Luckett, Thomas B. Mechling
Louis G. Meltzer, Reverend
Edward L. Morrow, DR.. Chris
topher j. Murphy, jr., Stanford
E. Paris, Raymond F. Sanger
Donald F. Simpson, L. P. SUIT
ton and DR.. John C. Watson,
John L. Scott is corporation
counsel.
Fidelity has applied to the
Federal Home Loan Bank and
the Federal Savings and Loan
Insurance Corp. for insurance
of accounts and will open its
doors as soon as approval has
been granted.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
Area Stores Volume
J Pct. Above Year Aqo

Department store sales in the
Washington Metropolitan Area
were 7 per cent above a year
ago in the week ended July IA
and also were IL per cent ahead
of the preceding week, the Fed
eral Reserve Bank of Richmond
reported yesterday.
Area sales in four weeks
ended July IA were up 4 per
cent from a year ago and 3
per cent higher for the year to
date.
The downtown portion of the
area sales total was per cent
above a year ago in the latest
week and was 8 per cent above
the preceding week. -Four
weeks sales and those for the
year to date were even with a
year ago.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
Earnings

Standard Oil (Calif.) in 6
months ended June 80 earned
SIS. 1903, 900 or S2.25 a share on
sales of 81 ,249, 1853, 900 VS.. $l42,-
$4,000 or $2.I0 on sales of
$1,159, 100000 in the 1861
period.
Black g. Decker Mfg. in 8
months ended June 80 earned
$4,603.55l or $1.94 a share VS..
i$3.893. APO or $1.64 in 1901
period.
Desilu Productions in year
ended April % earned $6l1, 921
or SO cents a share VS.. $319,146
or % cents in 1901 period.
Hudson Pulp G. Paper in 8
months ended May 81 earned
$2.319.000 VS.. $2,192,O00 in
1901 period.
Southern Co. in IL months
ended June 80 earned SAB, $685.
$50 or $2.09 a share VS.. $46,102,-
224 or $1.99 in preceding year.
Other earnings included:
Far 4 MonfhS Endad Iuna n
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
De Loittre Reported
White House Choice

John de Laittre of Mime
apolis, a past president of the
National Association of Mutual
Savings Banks, is reported to be
President Kennedy's choice to
become a member of the Fed
eral Home Loan Bank Board.
Mr.. de Laittre is president of
the Farmers & Mechanics Saw
ings Bank of Minneapolis and
is member of the task force
appointed last year by Chair
man Joseph McMurray of the
Home Loan Bank Board to
study operations of the board
and its regional banks, which
supervise savings and loan as
sociations and mutual savings
banks.
The Minneapolis banker, a
Republican, is reported favored
as successor to the retiring Re-
publican member of the board,
Ira Dixon.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
Benquet Bourd Wins

MANILA, July 20 (AP).-The
management of Benguet Con-
solidated, Inc. won a clear VIC
tory over a group of diSsident
stockholders today. re-electing
the entire board of directors at
the stockholders meeting.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
Rochester Telephone
Debentures Offered

First Boston Corp. headed
an underwriting group for pub
lie offering of $l2 million of
4A per cent debentures of
Rochester Telephone Co. today
The issue, due July /, 1887
was priced at l0l.915 per cent
and accrued interest to yielC
4.62 per cent. The group wa.
awarded the debentures yes.
terday on a bid of 101.151 per
cent on a coupon basis of 434
per cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
EIectronic Firm
Gets More Space

Washington archaeological
Associates will move its cleo
tronic engineering and manu-
featuring facilities into a new
40 ,000-square-foot building this
month and double its produc-
ton space for this part of its
activities, it was announced.
The new, air = conditioned
structure at ITO Chapman ave-
nue., Rockville, Md, will con-
solidate the firms electronic
engineering and production.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20

AASC anu AOdAl AooOCAdJlOllt 1lSOl
members as $49,516,193 during
June. while share repurchaSes
or Withdrawals of $33,334.565
left a net inflow of $16,181, 628
Cor the month.
This contrasted with May
when gross receipts of S39,-
106,189 and Withdrawals of
$31, 428, 745 left a net inflow of
$7,677,444.
In June last year, receipts
of Sal, 7S0,377 and Withdrawals
of $26,172.598 left a net inflow
Of $15,607,779.
Loan Settlements Rise
Loan settlements of the saw
ings and loans rose to $780,
262,73l in June, compared with
S25, 550,056 in the previous
month and $38,646,797 in June
last year.
Construction loans rose to
l5,169,845 in June VS.. $7,316,-
225 in the previous month and
$14, 666,100 in June last year.
Home purchase loans totaled
15,334,895 VS.. $11.869,429 in
the preceding month and $19,-
o21 .447 in June, 1861.
! Actual loan disbursements
amounted to $35,894,470 in
June, while loan repayments
brought in $26,566,812. In the
previous month disbursements
Jotaled $30,423, 694 and repay
ments came to SIS, 76o, 905. In
June last year, the totals were
s4O,253, 929 and $23, 953, 164, re-
Spectively.
Real Estate loans of the q
associations reached a new
high of $1,376, 724,655 on June
30, compared with 81 1853, 440,-
OPT q month earlier and |
$1,224,911,053 a year ago.
Assets Set Record
Combined assets set a rec
ord of $1,545, 563, $50, compared
with $1,526,859,212 a month
earlier and $1.378,428 BAL. on
the same 1861 date.
Invested savings also reached
a new high of 81 $3.50, 059, 100 on
June 80. compared with $1,313,-
781 ,534 at the end of May
and $1,l98,125,507 on June 80
last year.
Reserves aggregated $104,-
248,607, compared with $107,-
596,109 a month earlier and
S93.859.997 a year earlier.
Borrowings from the Federal
Home Loan Bank amounted to
$49,l70,000 on June 30 VS.. $46,-
$4,000 a month earlier and
S33.025,916 at the end of June
last year.
Assets of the 10 largest asSo-
Citations of the group on June
80 were listed as follows: Per-
.petual. $440 ,040. $50; First Fed
eral of Washington, $17l,271,-
968; National Permanent,
$l27,613,194: Interstate, $107-
1914; Columbia Federal,
500, 057,6l8: American, $78,331,-
!888; Eastern, $43,341,747; JEFF
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
Investments Rise 1920
In Coal and Steel Pool

LUXEMBOURG CITY, July
20 tAP. = Investments in
plants of the European Goal
and Steel Community last year
amounted to SIS billion 80
per cent above the 1860 Level,
it was reported yesterday. The
steel industry got the lions
share with Sill billion. &
Steel investments during. the
first half of this year declined
to $446 million. ''rs
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
METALS

NEW YORK, July 90 CAPl.-spot
non-ferrous metal prices today: Copper
81 cents a pound, Connecticut Valley;
zinc liz cents a pound, East ST,
Louis; tin Lila a pound. New York
foreign silver 0394 per troy ounce,
New York. Pittsburgh scrap steel No.
heavy was quoted by Iron Age at
25.O0-26.00.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
GIN Earnings
SET Record 81
Quarter in Row

NEW YORK. July 20 (AP1.
General Motors Corp. re-
ported today sales and earnings
in both the second quarter and
first half of 1862 were at rec
ord levels.
Net income for the quarter
set a record for the third con-
secutive quarterly period, total
ing S402 million compared with
1874 million in this years first
quarter and 1882 million in the
April-June quarter Of 1861. On
a per share basiS-also a record
net was equal to $1.41 in the
second quarter against $1.31 In
the first three months of this
year and SO cents in the second
quarter last year.
Sales for the quarter climbed
to $4.026 billion from $3.665
billion-the previous high-in
the first quarter of this year
and compared with $3.O88 bill
lion from April through June
in 1861.
Record for Half Year
Earnings for the first six
months of the worlds largest
manufacturing firm rose to
SITS million from S440 million
a year ago, eclipSing the pre-
vious record of 1851 million
set in 1855. the auto industry'S
record year.
Barring sharp showdown in
the second half, the firm
seemed likely to earn more
than 81 billion this year. The
first time it has topped that
figure since 1855. GIN was the
first firm to earn that much,in
one year. ~
Net income per share in the
first half was $2.72, lettering
the record $2.41 in the first
half of 1855 and far outstrip-
ping the $l.53 per share earned
in the first six months of 1861.
FirSt-half sales rose to ST.
SOL 100000 compared with the
previous record of $1,109, 000,-
900 in 1860 and $5,812,000, 900
in the similar period Of 1861.
Customer Preference"
Chairman Frederic G. Dom
ner and President John F.
Gordon commented that the
record volume reflected the
high level of general business
activity and customer prefer
ence" for the firms products.
Factory sales of cars and
trucks also were at record
levels, totaling 1,465, 900 units
in the second quarter and o.
02l 900 in the six-month period.
These figures represented gains
of 80 per cent in the second
quarter and IS per cent in the
first half.
General Motors is by far the
induStry's biggest producer.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-07-20
Net Inflow Of Savings
Into D. c. Associations
AT New 1862 Hiqh
BY DONALD B. HADLEY
star Financial Editor

The net flow of savings into 81 member
District Savings and Loan League reached monthly peak
for the year to date amounting to sic million monthly
from John Sade president of the league today
Mr. Stadter who president Of National Permanent
ng and Loan Association listed savings receipts of