davidaulloa/AmericanStories huggingface dataset:
Evening star., 1962-05-30
THE PASSING SCENE
Kennedy's View of the Market
BY WILLIAM S. Whit

President Kennedy feels a
worry and Illustration over
the gyrations in Wall Street
in some ways not altogether
unlike his reactions a year
ago to the lost invasion Of
Castro Cuba.
The stock market break is
bringing him some anxious
days this spring, as the COL
lapse of the effort of the
Cuban patriots to oust Fidel
Castro brought to him last
spring.
The great difference is that
the President readily accept
ed the ultimate responsibility
for the Cuban misadventure.
But he does not now accept
any blame for the recent
very sharp declines on the
stock market. Indeed, he sees
the declines, to a point, as
more or less inevitable.
This judgment-which, of
course. would not hold should
the market go down and
down and DOWNS based on
conclusions in fact shared in
part by some leading Wall
Street figures, including the
famous house of Bache and
Co. That is, the President
agrees with most market
analysts that stock prices
simply had long been too
high anyhow relative to the
return to stockholders in
dividends.
The President goes on,
however, to another conclu-
sion by no means so widely
shared within business, it
self. This is that the invest
ing community has finally
realized that initiation has
been halted and accordingly
is now betting against any
progressive heightening in
prices generally.
Some Lack of Confidence
And. curiously enough, he
also agrees, in a wry way and
to a degree, with the asser-
ton of many business men
that some of the trouble
springs from a lack of con-
fidence."
The President comedies that
a lack of confidence" in him
does exist in some business
circles. But the vital distinc-
ton is that in his mind this
disturbed view of him is
wholly unwarranted. He sees
himself as being looked upon
by business as though he
Evening star., 1962-05-30
Nothing Wrong With the WoI-I Just Lost Ny Buunce!
LETTERS TO THE STAR

Pen names may be used if
letters carry iOriters' correct
names and addresses. All let
terS are subject to condensd-
ton. Those not used will be
returned only lDhen accom-
panied By self = addressed,
stamped envelopes.
Evening star., 1962-05-30
Peace Corps Patch

AS a former enlisted per-
sonnel of the famed USN
Bobcats, the first Seabee
detachment organized and
first to serve overseas, I be-
lieve the Peace Corps should
be considered as a SISTER
civilian ship" to the Navy
SeabeeS, and an appropriate
civilian patch be approved for
members of the Peace Corps.
Both organizations, in main,
are performing and bringing
about desired results, chiefly,
good understanding and ex-
cellent harmonious relations
with friendly foreign nations.
Jack I. ReSnicOff
Evening star., 1962-05-30

plan. And the voters of Montgomery
and Prince Georges can take no solace
in the fact that when the Barbee
compromise" was proposed in the
House Judiciary Committee, other Dele
gates from these two counties chose to
sit on their hands.
Evening star., 1962-05-30
Woging the Weak Fight

Delegate Alger Y Barbee of Mont
gomery County justified his substitute
reapportionment bill on the strange
grounds that the Watered-doWn version
would have a better chance of clearing
the Legislature than the meaningful
constitutional me n ment initially
agreed upon by Governor TaweS and the
Maryland Committee for Fair Represen-
tation. OF course it would. BY the same
reasoning, Mr. Barbee could have weak
ened its provisions little more and
probably have avoided any fight at all.
For our part, and regardless of the
eventual outcome, there is nothing but
disappointment in this display of weak
ness. 1t is argued, of course, that this
was the best compromise" that the
rural politicians who dominate the
Maryland Legislature would accept. But
the point is that the representatives of
heavily populated urban areas, for the
first time in history, are in position of
strength, bolstered by assurances of fair
apportionment through the Federal
courts. AS far as the constitutional
amendment was concerned, it was not
necessary for them to knuckle under to
an unsatisfactory compromise" at
least in the first round Of the fight. The
proposal as submitted by the Governor
was in itself compromise, from which,
in our opinion, the urban legislators
should not have retreated. Moreover,
the provisions of the constitutional
amendment, setting the permanent pro-
ho n vii of &c in,
the Legislature, would not in any event
become effective until 1866. 1t would
have been better, if approval of the
original proposal could not be obtained
this week, for the proponents of equi-
table apportionment to wait and fight
another day.
A stronger effort also should have
been made in the House of Delegates in
behalf of the original provisions of the
stop-gap bill to provide realignment
of House seats for the purposes of the
general election next November. This,
however, is far less important than the
form of the constitutional amendment.
According to Governor Tawes, there
is little difference" between the conSti-
House and the formula which he in
italy promised to support. One major
difference is that Montgomery and
Prince Georges Counties, under the
present population, would pick up only
three additional seats each in the House
instead of four. More significantly, the
bill as passed by the House distinctly
favorS rural areas in the matter of
future readjustmentS of House seats.
In the form reported to the State Sen
ate today, this feature has become even
more Objectionable.
If these seem to be insignificant
details to Mr.. TaweS, they hardly can
seem so to the voters of fast-growing
suburban regions of the State. There
was little evidence to reporters cover
ing the Legislature on Monday that the
Governor made a fight for his initial
Evening star., 1962-05-30
Then and Now

Bernard Baruch, as good an author
ity as the next one on the stock market,
once referred to the crowd behavior that
prevails on days of near-panic selling of
securities as something akin to "the
migrationS of birds or the mass per-
formance of whole species of ocean
eelS"
It is both colorful and valid Simile,
and the more so because there are rea-
SonS-even if difficult to determine or
to comprehension the behavior of the
humans, the birds and the eelS. There
is no shortage now of reasons being ad-
vanced for what has happened to the
market in recent days, and hindSight,
of course, helps a great deal to make
the explanations sound authoritative
The analysts and the commentators
have advanced them in detail. Not sur
priSingly, comparison with the 1929
crash and its sequel of long and deep
depression becomes inevitable.
Perhaps only the brash would say
1T can't happen again." but there are
certain important differences. The pc
riod leading up to October, 1929, really
had become a SPECTATORS holiday, and
anybody could buy stocks on 10 per
cent margin-putting up $100 to own"
an equity priced at $1,000. The early
stages of a break then meant selling
out lot of people, and panic was close
at hand. Today the margin is 10 per
cent, and the Stockholder is correspond
ingly better protected. There was no
Securities and Exchange Commission
then to regulate market practices, and
some we're both shady and Shaky in the
extreme. The insiders" were better
able then to dupe an unsophiSticated
public, and they did so.
Highly important today is the fact
that approximately one-third of all
stocks are owned by institutional in
veStors-banks, insurance companies,
college and other endowment funds,
mutual funds pension funds and prof
it-sharing trusts They are not specu-
latorS seeking quick profitS-their
greater interest is in safety, sound
growth and protected income. They are
not likely to sell in panic, they are more
likely to buy at attractive price levels.
No doubt they we're doing so yesterday
in the late afternoon rally.
AS for the danger that market
collapse either signals, or could touch
off, depression, there are answers of
some comfort Most other reliable eco
nomic indices do not indicate even a
recession in the near future and there
are safeguards, at least to cushion a
decline, that did not exist in 1890 Ad-
ministration Spokesmen already have
mentioned possible tax cut-for busi-
ness as we'll as for individualS-which
could provide quick stimulant. Indeed,
easing the tax load on business, for ex-
ample, could improve profits, which
should improve stock prices, and free
capital for investment that could mean
economic growth and more jobs. The
social security system, particularly un-
employment compensation, is in busi-
ness to help individuals and it has long
proved its worth.
With all this, no naturalization can
scrub the fact that what has happened
has been jolt. 1t could get worse be-
fore it gets better, but early 1862 still
does not look like late 1929-30.
Evening star., 1962-05-30

were another Franklin D.
Roosevelt. whereas his own
estimate is that he is a thou
sand miles away from Roose-
velt in his real attitude to-
ward business.
Feels PrO-Business
He sees himself as distinct
ly pro-buSineSs. And he snorts
in tired derision at sugges-
tions heard here and there
that there may be some $50
clallst vein" in him. This. he
believes, springs from highly
excited notion that because
some professors are in lesser
places in the administration.
these professors must be run
ming economic policy. The
President makes it abundant
ly clear that they are doing
nothing of the sort. He
pauses to observe with en-
phasis that his chief econo-
mic adviser is himself a Wall
Street Republican who
served in the Eisenhower
administration-Secretary of
the Treasury Douglas Dillon.
He also waves away as ex-
cited nonsense the sugges-
tionS of some ra-liberal
Democrats that some myste-
riouS they" who are sup
posed to control Wall Street
are depressing the market in
the hope of defeating DEM
ocratic Congressional candi-
dates this fall. Silly is the
word for this sort of suspi-
cion, in his view.
So, in the end, it all comes
to this: The President thinks
lack of confidence" in a
time of high prosperity is an
irrational slogan, arising, not
from facts. but from vague
and unreal suspicious lead
ing to excessive timidity
among some business people.
This is where his Illustration
enterS-this and a feeling
that sometimes it is hard for
a fellow to win, either way,
considering that at this very
moment he is by no means
the top hero of organized la
Dor, either.
Whether Mr.. Kennedy is
right or wrong in all of this,
this columniSt does not even
pretend to know. But does
Mr.. Kennedy himself really
believe it? OF this, one who
talks long to the President
himself can have no reason
able doubt.
Evening star., 1962-05-30
A BOOK FOR TODAY
Utopion World Could Lie Ahead
By DONALD MINTZ

But this wonderful world
depends on peace as we'll as
economic rationalism. Will
We have it? Professor
Baade'S analysis shows that
the cold war has no economic
basis. Furthermore, he sees
no economic conflict between
China and the Soviet Union
and he considers the forced
communication of eastern
Europe a most unwise policy
from the Soviet Unions own
point of view.
Now, rapid industrialization
and the modernization of agri-
culture have been accom-
plished in China and the So
Wet Union. THE methods of
authoritarian communism, in
other words, have clearly
proved effective in bringing
about the necessary redistri-
button of labor. The shape Of
the world in A. D. 1000 will
in large measure depend on
the ability of the non-totali-
tarian,. non-C o m m unist
countries to develop methods
of their own to accomplish
the decisive structural
changes with equal ef-
ficency."
This is one of our great
challenges, and one we are
not now going very far to-
wards meeting.
ANOTHER is the necessity
of holding our own in a
world whose natural balance
of quantitative power is in
evitably shifting against us
by increasing the quality of
our material and moral prod
uct. And education-superior
education-lies at the heart
of this problem. Here again,
says Professor Baade, we are
not meeting the challenge.
Finally, there is the chal-
lenge of disarmament and the
rule of reason. Since there are
no economic reasons for
world conflict, "the prob
lens of coexistence are inher-
ent not in conflicts over food
supplies or energy resources
but reside rather in the minds
of men,"
In Professor Baade's view,
the world stands little or no
chance of surviving the arms
race if it is further pro-
longed. A solution is therefore
DoUn completely possible ana
absolutely essential.
In the last analysis we
come down to this: UNLESS
the Russian politicians are
out of their minds altogether
and there is fairly convinc-
ing evidence that this is not
the case-they must know
that the conquest of large
nom Communist or anti-Com-
munist countries, iar from
improving the position of the
Soviet Union, would make it
considerably worse" The same
is true of China.
Professor Baade makes a
powerful case. Will somebody
send a copy of his book to
the Laotian desks in the for
eign ministries in Moscow and
Peiping?
Evening star., 1962-05-30
Answers to Questions
By THE HASKIN SERVICE

@. In what year was Caruso
born?-M. H.
A. During the early years
of his operatic career the
date was variously given as
1871, 1872, or 1873. The year
1873 is now generally &C
cepted. Caruso's parents had
many children and neglected
to register their births.
Evening star., 1962-05-30
THE RACE To THE YEAR

~VVVg OoA NSAOs n - -
disc or the Suicide of Man
kind, by Fritz Baade.
Translated from the Ger
man by Ernst Pawel with
a forward by James P.
Warburg. 246 pp., illus.
with maps, tables, graphs
and photographs. Double
day g. Co., $4.95).
The news four decades
hence can be good-incred-
IDLY good-if
Fritz Baade envisions a
fantastic paradise on earth.
This world of AID. 2000,"
he writes, could indeed be a
marvellous, a miraculously
beautiful world. The fight
against hunger can be won:
No one on earth will need to
go hungry any longer. +.
Poverty, too, can be con-
quered. Every human being
able to work-and there will
be. as we have seen, between
2.5 and 3 billion of them in
1000 - will be we'll fed and
equipped with tools so that
individual productivity even
among the people of Asia
will have reached at least the
present levels of European,
American, or Russian work.
ers."
All this provided that "the
race between reason and in
sanity in which we are en-
gagged will be decided in favor
of reason" And our hope that
reason will prevail would
rest on shaky foundations
indeed except for the forces
of faith that are allied to
those Of reason. The great
age of Christianity is only
now beginning"
The man who sees this be-
fore us is neither a mystic
nor a visionary. Fritz Baade
is a professor of economics
at the University of Kiel, a
Social Democratic member of
the West German Bundestag
and one of Europe's most
distinguished e mists.
Professor Baade's vision is
the result of hope, of course.
but it is based on complete
" sober and hard calcula-
p tions.
PROFESSOR BAADE be-
gins by discussing the worlds
population and it's growth.
He then seeks to demon
strate that throughout the
entire world-in the indus
trialized nations and the
under-developed nations re-
gardless of whether they are
now over or under-popu-
lated-it is possible to cover
all possible future food re-
quirements using the tech
nology of 1862. OF course,
everyone must behave ra-
tionally if this is to come
about, even if reason de-
mands abandoning long held
religious principles.
Professor Baade's calcula-
tionS also show that the
worlds energy reserves are
in excellent condition. In
deed, he is most positive
about this and subjects the
opposing viewpoint to some
fine German academic
scorn.
He insists that industriali-
zation and mechanization
"are not alternatives. but
rather two facets of one and
the same process. mutually
conditioned and reciprocal in
action" He considers that
the World Banks advice to
under-developed nations "to
go slow on industrialization
. is fundamentally wrong"
Evening star., 1962-05-30
Quipster

Reflection for today: Can
it be that the free world is
being de-LaoS-ed because the
place was Promulgated?
Donald H. Bradshaw.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-06-06

Practically q summer wardrobe all on
one honeer-he gets all 3 pieces at
price that makes our exclusive Trio q
special sort Of q family gift. He'll wear
the suit coot and trousers for business
and dress; few cooler or hondsomer. The
suit coot plus the odd Stacks make q win
ming sport outfit for weekends the suit
coat with other sIocks and either the
sIocks or suit trousers with his sport shirts
and knits make up almost IimitIess other
possibilities that let him be as WE'LL
dressed and comfortable as you like to
see him. Surprise him with this gift.
The Heeht co-Men's ciothing-Downtown,
Silver Spring, PARkington, Prince Georges
Plaza and NARROW Heights
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-20

For nearly 800 the Christmas eggnOg
holiday hospitality Preparing the often much ritual
trimming the there's debate
should be thick enough eat thin enough drink
between In Colonial times special beate sticks split
with piece Of wood inserted cross used to whip the
t Today however the hostess do the job in less time than
took COOnist crack the Below
to please the most discriminating tastes.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-20
Traditional
Eggnog

IL egg yolks
"a pound sugar
/ quart milk
/ bottle ("fifth~ gold label
rum
/ quart heavy cream
Beat yolks until light. Add
sugar until thick. Stir in milk
and rum. Chill 3 hours, fold
in whipped cream. Chill one
hour. Serve sprinkled with
nutmeg. Makes 20 servings.
INSTANT EGGNOG
One quart prepared eggnog
8 ounces gold label rum
1 cup whipped cream
Mix eggnog and rum. Folk
in whipped cream, Chill one
hour. Top with grated nut
meg. Makes eight servings.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-20
Tasty Spread

Vary your hors d. ouvres
with this Bombay spread.
With a fork. make a smooth
blend Of a 3-ounce package
cream cheese, l tablespoon
mayonnaise, "a teaspoon
curry powder. and dash on
ion salt. Fold in a 5-ounce
can boned chicken and /
tablespoon minced celery.
Chill. Spread on small toast
squares, round butter crack
ers, etc. Makes about one cup
or enough for 20 to rs
crackers.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-20
Soup Combo

A chilly day means soup
for lunch. Try this tasty
combo. Combine a can of con-
densed cream of chicken
soup, a can of condensed
green pea soup with "a cup
light cream and 2 cups milk.
Stir until smooth. Heat.
Serve sprinkled with parsley.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-06-10

.. If you said yes, you may enjoy
living in the past. DR.. Fred Brown,
chief psychologist of New York City's
Mt. Sinai Hospital, says, THE fun of
a vacation should be the vacation it.
self. Only those who are Older-or
who feel older-prefer the peace and
quiet of "Reminiscences"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-06-10

you're probably acting your age. If
you have several more noes than
yeses, you have decidedly youthful
outlook on life. But if you have
several more yeses than noes it's
time to form more youthful habits!
Here is why the Eyes" answers reflect
the attitudes of an older person:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-06-10

- ASAAOuS VI AOW oAAu hA6u opAAiIS
come in cycles lasting, roughly, a
month. As we age, these cycles last
longer = according to a study done
at the University of Pennsylvania -
SO Eyes" means you're feeling older.
.. Recent studies have revealed
we're as young as our interest in
other people. Those who shun get
togethers and new experiences are
either elderly or getting old before
their time.
q. THE concentration of sugar in
the blood is the same at eight or
eighty" reported the late DIR. Edward
]. Stieglitz, leading geriatrics author
ity. But he added that ''the ability
to maintain equilibrium depreciates
with aging" If you checked yes"
you're especially sensitive to ex-
tremes Of heat or cold = regardless
of your chronological age. You're
making Fan admission of senility".
.. It takes youthful spirit to dare
to plan ahead. THE older we get -
or feel - the more we tend to think
in terms of the immediate present."
says DR.. Robert L. Wolk, psychoIo-
gist. 'Why look to the future if we
don't believe there is any?"
q. The older we feel, the more we
strive for compliments. Aging makes
us feel inadequate, so, as DR.. Moses
M. Frohlich of the University of
Michigan says, 1--WE seem to depend
much more on those things which
heighten our self-esteem."
?. Informal newspaper surveys show
that obit columns are must-reading for
those who - consciously or uncon-
sciously = dread the years ahead.
Their anxiety about the future causes
them to think in negative terms.
q. An obsession with money, Sc
curity and needless possessions is
more typical Of the aging than of the
youthful. ''The way to be safe is
never to be secure" said Benjamin
Franklin, and that's a dictum youth
typically believes in. But the older
you feel, the more you want the
tangible security of possessions.
Q. Leading restaurateurs agree that
eating is only an adventure to the
young in heart. Well-known resort
owner Paul Crossinger sums it up:
1--WE always have the old reliable
standards like steaks and chops on
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-06-10

ming to follow it through to compile
ton some time in the future?
YES Q NO q
NOtc Find Your ~ReGI" Age
Add up your yeses and noes. If
you have the same number of both, or
only one more of one than the other,
Evening star., 1962-12-12

AUGUSTA, Ca, Dec. IL
AP). - Howard Fairbrother,
owner OF a dental laboratory,
told police burglars broke into
his firm and stole about 1000
false teeth valued at $500.
Papago Indian news., 1962-09-01

JOBS IN 12 rDuTHs TUCSON Do1Esfc WORKERS InHD
One Hundred
June 30. For
appyi a a a NJ u nto
o e adult he tion the
to the and more llan by nil d Waesre
from $1.1 o 10 hour for of $1.69
in tyc il June and is
no a a
Papa by guided mis- sparts rWuk in st Aurora,
n Neek,
d@ DON res son the ml ASS stan flee
Tucso
Papag the off recently Frank
n AntC Nhntn
in San Francis Virgin Miguel,
ar to l
Ohio William
and SH cKard .. Thomas
andT ltha % onix.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-10-11

These prices effective Until close Of business Sosyr61y,
October 10. 1862. in Wellington. o.c. MARYLAND
Pelmsr Pork, HlleIsa Heights. Tokoma Pork, Indion
Heed, sodsnsbWs. coro Hills. cepaol Heights. Mors-
boro. SILVER Spring esfhssdo Rockville, coi'hsrsbO's.
Laurel. VIRGINIA. AIsIondro, Arlington. faifoE, Folls
Church, Mclson, Anasodeis. Hsrndoa, henosSos. We
RESERVE The RIGHT 10 IMT QUANTITIES. Prod0es
prices subject 10 dolly msrksi ehonsss. Some Of Tho
Items listed in this advertisement moy not be found in
all SiofsL
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-11-12
5 Silver Spring Hikers
Spend ChiIIyNight Lost

Five Silver Spring teen ager;
spent most of a chilly night
lost in the woods near Skyline
Drive in the Blue Ridge Noun
tains before a park ranger
found them early this morning
The youngsters, Is to II
years old, were separated from
a hiking party of IS young
people and five adults from the
Marvin Methodist Church, SO
University boulevard, Silver
Spring.
Two others in the group -
a man and a boy - found their
way out of the woods several
hours earlier.
According to Chief Ranger
Joseph Wulesza of Shenandoah
National Park, the mixers set
out about $3.50 pm. yesterday
from Hawks Bill Gap, on Sky
line Drive two miles south of
Skyland. They went down the
east side. of the ridge, intend
ing to return close to their
starting point by way of White
Oak Canyon trail.
Seven of the group took the
wrong turn, and got lost try
ing to find their way back, the
ranger said.