davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-03-06
Fishermen Schools

MEXICO CITY, Mar. 6 (AP)
Mexico is thinking of estab-
fishing schools to teach fisher
men advanced fishing methods.
An official says knowledge may
be one way of bolstering Mexi-
cos fishing industry.
Evening star., 1962-05-04

coast of Spanish West Africa,
dressed and transferred to cold
storage plants until west-bound
refrigerator vessels call in port.
These larger ships, operating
under German, Norwegian and
Japanese flags, carry the tuna
to Maryland for canning.
To Deepen Channel
A State spokesman said O
joint Federal-local project to
deepen the Cambridge harbor
channel is being arranged to.
accommodate the ocean-going
ships. So far four lighter YES
sells with shallow draft have
unloaded tuna there.
Cambridge is not the first
Eastern Shore city to can tuna.
A competitive company began
processing Atlantic catches at
Salisbury earlier. State offici-
ais are encouraged by the trend,
since 1t promises to help re-
heve unemployment in the area.
In the back Of their heads
is another idea: Why not fill
the empty ships on their re-
turn trip eastward with an
other table delicacy, the famed
Del-Mar-Va broilers, which
have been produced in over
supply in recent times? 7
Authorities said they have no
firm plans yet, but are looking
into the possibility. -.
Evening star., 1962-05-04
Germany Settling
Claims Against
Third Reich Bank

BONN, May 4 (AP).-The
West German Government has
started settling claims against
the Third Reich's Deutsche
Gold and Diskontbank (DEGO)
the German gold and discount
bank.
A Finance Ministry Spokes-
man said preferred stock
holders can get ITO marks
($42.50) for every 100 reich
paid. The reichmark
was worth about 40 cents while
the present mark value is rs
cents. -.
The terms offered partly take
into account cumulative divi-
dends due.
United States citizens hold
IL per cent of DEGO's pre-
ferred stock, which in 1899 was
forced on foreigners in ex-
change for original investments
in the Reichsbank.
The government said SO mil
lion reichmarkS in preferred
DECO stock was sold.
The ministry said stockhold-
ers may either sell at the pro-
posed rates or may wait until
the liquidation of DECO. The
company ceased to function
when the Third Reich collapsed
in 1945. The government
warned the liquidation possibly
will take many more years. T"
Evening star., 1962-05-04
Federal Storage Leases
Alexandra Warehouse

The Federal Storage Co. has
acquired under a long-term
lease a new large branch ware
house at 621 North Payne
street in Alexandria, it was an
nounced today by President E.
K. Morris.
The new warehouse occupies
an entire city block or two
acres Of land and contains
l04.500 square feet Of space.
OF fireproof construction
throughout. the various Sec
tionS of the building are de-
signed for palletized storage ex-
clusively. They have a capacity
Of 1900 standard cases Of ap-
proximately 300 cubic feet each,
Mr.. Morris said.
A large area will be used for
storage in transit. Built-in
crane and other devices will
facilitate the handling of steel
lift-vans for overseas ship
mentS.
Evening star., 1962-05-04
Indiunu STANDARD
Profits Decline

WHITING, Ind, May 4 (AP)
Standard Oil Co. (Indiana)
stockholders we're told at their
annual meeting yesterday the
company expects 1862 earn
ings to exceed those of 1861.
John E. Swearingen. presi-
dent, made the prediction in
the face of first quarter earn
ings of $37.6 million compared
with $43.8 in the corresponding
1861 quarter.
Earnings per share were
$1.05 in the first quarter, off
IA per cent from $1.23 in 1861.
Total income was a record
$567 million against $531 mil
lion the first three months of
last year.
"The largest single factor
affecting this years earnings
was q decline in the average
price we received for gasoline
of about IL cents a gallon, I"
Mr.. Swearingen said.
Evening star., 1962-05-04

Convenient to all types Of
transportation. the building has
its own private railroad siding
along one entire side of the
building. Located one block
west Of US. Highway l, the
warehouse also is near Ma
tional Airport and the Potomac
River Docks.
With the deepening Of the
Potomac River channel. which
has been strongly advanced by
the Washington Metropolitan
Board of Trade for several
years. it is expected that Alex
andria will become an active
Atlantic Coast port.
The new warehouse of Fed
eral Storage includes two en-
closed courtyards and terminal
facilities for visiting long dis
tance vans. Outside dimensions
of the building are 353 by 247
feet.
Evening star., 1962-05-04
Curtis Opposes Curb
On Investing Abroad

Senator Curtis. Republican
Of Nebraska, today took strong
issue with provisions Of the
Kennedy administration tax
bill pertaining to income earn
ed by overseas subsidiaries of
American companies.
Il can conceive of no single
measure which the Congress
might adopt which would
create more unemployment or
a greater decline in the rate
of economic growth than the
administration bill deliberate
ly designed to deter overseas
investments by American
firms" he said in remarks be-
fore the Senate.
''In the years 1850 through
1860, earnings sent to United
States from American subsidi-
aries abroad totaled $20.5 bill
hon." he declared. During the
same time. the outflow Of direct
investment amounted to $12
billion. This was a net gain of
$8.5 billion for the United
States.
only 10 per cent of the sales
of our overseas subsidiaries
finds its way back into the
United States. and in this figure
Evening star., 1962-05-04
PEOPLE
BUSINESS

r. I. Harding Of Ashburn,
Va, has been named sales man.
ager of the feed department of
Wilkins-Rogers Milling Co. and
its subsidiary, the Loudoun
County Milling Co. at Purcell
vile, Va. He has been with
General Mills.
Francis M. Sharkey Agency
of Lincoln National Life Insur-
ance Co. ranked fourth among
142 agencies of the company i'll
competition for the Presidents
Trophy.
Dan HOllingswOrth, police
chief of Oklahoma City, has
been named traffic consultant
of the Insurance Institute for
Highway Safety in Washington.
Hilliard Schulberg, executive
director of the Retail Dealers
Association. was honored at a
testimonial dinner Of the Allied
Beverage Industries, Inc, at the
Sheraton-Park Hotel last night
He has served the industry 1S
years.
DIR. Gerald NJ. Monroe has
been named program director
lunar systems. for the Martin
Co. space systems division.
Charles Kym has been named
assistant food and beverage
director of the Mayflower Hotel.
William r. Milford, jr., has
been appointed business and
advertising manager of the
Commonwealth. monthly maga-
zine of the Virginia State
Chamber of Commerce,
Evening star., 1962-05-04

Tawes, unable to attend, sent
q message Of greeting through
his representative, Harry A. Bos-
well, chairman Of the States
Economic Development Com
mission which helped in at
tracing the new industry to
the State.
The story Of the tuna catch
begins In mid-Atlantic along
the equator, where schools of
the fish were discovered re-
Gently In commercial volume.
Using mostly Japanese crews,
said to be the most persist
ent and effective hunters of
tuna in the world, the fishing
boats land their catch with
baited hooks and freeze them
temporarily in brine.
The tuna Is then taken to
the Canary Islands off the
Evening star., 1962-05-04
BUSINESS
BRIEFS

Freight Car LOadings last
week totaled 577,534 cars, gain
ing 1.4% over the preceding
week and 6.19o over the cor
responding 1861 week.-Assn
Of American Railroads.
Lending Capacity Of Reserve
member banks measured by free
reserves fell in the week ended
Wednesday to an average of
1929 million, the lowest in ~
years, from $465 million in the
previous week. IF Federal Re-
serve Board.
BituminOus Production last
week was 8,875,000 tons, VS.
100000 for the week ended
April 81 and 7,57S,000 a year
ago. Through April % output
this year totaled 1873, ,871 900
tons against 122,024,000 a year
earlier.-National Coal Assn.
Intercity Truck Tonnage in
"a metropolitan areas last week
rose 1.2% over the preceding
weeks total and was 3.7%
higher than in the year-ago
week. - American Trucking
Assns.
Retail Trade volume last
week ranged from 4 to 80
higher than in the 1861 week,
with apparel, garden equip
ment, hardware and building
materials leading the way.
Dun & Bradstreet.
Crude Petroleum Stocks on
April % totaled 253, $50 900
barrels, up 2,1O8,OOO for the
week. Daily production aver
aged 6,345,0O0 barrels, down
$4,000 from the previous week.
Bureau of Mines.
Western Union has filed a
plan to raise some Telex rates
but to reduce charges for VOL
ume users as much as 40To.
LOckheed Aircraft has been
awarded a SIS million Air
Force contract for production
of the new C-l41 Jet cargo and
troop transport. The work will
be done in Marietta, Ga.
Ohio Oil Co. will change its
name to Marathon Oil Co. on
August /. The company also
reported earnings in first quar-
ter of $8.1S6,000, down 2,307, 900
from the 1861 period. g.
Evening star., 1962-05-04
D. T.. Transit
Plans 10 Offer
Debentures

D. c. Transit Systems, Inc,
has filed a registration state
ment with the Securities and
Exchange Commission covering
a proposed offering Of $780,
600 Of 612 per cent converti-
BILE subordinated debentures
and 5-year warrants to pur-
chase an aggregate Of 94,500
Class A shares at SIS a share.
1t is proposed to offer the
securities as units consisting of
500 Of debentures due in 1877
and three warrants for sub
scription at 500 per unit by
holders of Class A and Glass B
common stocks. The record
date and rate Of subscription
will be supplied later by amend
ment.
Transportation Corp. OF
America owns 1853 1852 shares OF
32.6 per cent of the outstand-
ing Class A stock and 2 mil
lion shares or 100 per cent of
the Class B stock. 1t intends
to redistribute subscription
rights received by it to its
share holders and holders of
certain convertible debentures
Through its wholly owned
subsidiary, D. c. Transit Sys-
tenn Of Washington, the COM
pany operates the Washington
transit system. D. C. Realty
and Development Corp, a SUBJ
sidiary of D. c. Transit OF
Washington, was organized re-
Gently to construct housing anc
other projects in the Nationa,
Capital.
D. c. Realty is negotiating 9
contract for redevelopment o.
a five-acre tract in Southwes'
Washington at an estimated to.
tai cost Of SIS million.
1t expects to finance 81!
million Of the cost by FIJI
mortgage loans and use arounC
100000 from the parent firm
debenture offering. Remainde.
of the debenture proceeds will
be used for expansion and di
versification by the parent firm
Evening star., 1962-05-04
Bank Regions
Reorgdnized

Controller of the Currency
James j. Saxon announced a
reorganization and enlargement
of the regional system of ma
tional bank examination Of
fices yesterday.
The changes create IA dis
tricts instead of the previous IL.
to eliminate the splitting of
States and-as Mr.. Saxon ex-
planned it-distribute the work
of bank examiners on a more
basis.
Two new regional chief ex-
aminers were named, j. r..
Thomas and Kenneth w. Leaf.
Both have been assistant chief
national bank examiners at the
headquarters in Washington.
Mr.. Thomas takes charge of
the new District IL, with head
quarters at Denver, covering the
States of Wyoming, Colorado
Utah, New Mexico and Arizona
Mr.. Leaf becomes head oi
the new Portland (Oreg.) office,
headquarters for District t3. II
covers Washington, oregon
Idaho, Montana and Alaska.
w. A. Robson, formerly chiei
examiner at st. Louis, has beer
transferred to Memphis, Tenn.
headquarters for the reorgan-
ICED District 8. This office viii
cover Arkansas, Tennessee
Louisiana, Mississippi and Ala.
bama.
Norman r. Dunn heads Dis
trict 5, headquartered at Rich
mond, which takes in the State,
of Maryland. Virginia, West
Virginia, Delaware and NORTH
Carolina and the District o.
Columbia.
Evening star., 1962-05-04

stormy winter, it pointed cut.
Retail sales. which recovered
in February and advanced in
March to a new record Of Sl9.3
billion, seaSonally adjusted, ap-
pear to have pushed on to an
other new peak in April.
Merchants were particularly
encouraged by heavy Easter
buying. Department store sales
in six weeks before Easter
averaged IL per cent higher
than in the pre-Easter weeks
of 1861 and 9 per cent greater
than in the 1860 season, the
review declared.
The excess of caution at
tributed to consumers during
the winter appears to be evapo-
rating" it added.
$50 far As people are Of mind
to spend. the potential is there.
In the first quarter. personal
income flowed at the annual
rate of s433 billion. $28 billion
greater than a year earlier.
Even after the growing bur-
den of income and social Sc
curity taxes is deducted, dis
possible income was running
S24 billion a year higher
equivalent to an extra 500 for
each man, woman and child
in a population which had
grown nearly 3 million in that
time"
However, the review report
ed the Presidents breakdown
on steel companies attempting
to raise prices has increased
anxiety within the business
community over the profit
squeeze.
"One inevitable consequence
has been restudy of plant and
equipment spending programs
sometimes. as in the case of
steel, under the compulSion of
cash-flow arithmetic" it said.
Dollar expenditures are
scheduled modestly above the
previous record of $37 billion
back in 1857. Nevertheless be-
cause of price initiation. this
level Of investment would rep
resent a smaller physical vol
ume Of capital goods than in
1857. 1t is widely agreed that |
higher levels Of capital spend
ing by business will be essen
tial If the objective of full
employment is to be realized.
Evening star., 1962-05-04
CHICAGO
LIVESTOCK

CHICAGO. May (AP)-CusDA). -
Mostly Most GSsr asgf sSsssss' 50 sfSRf
sows steady to 25 higher with weights
over $50 lbs. fully 20 higher; good
shipping demand; mostly 10 19O-21n
ID: butchers l6.25-16.5o, around, i75
.35: S3o-26o lbs. iS's5-i5. rs:
2-3 250-2S0 lbs. 14.75-15.5Q; mixed
1-3 35O-540 10. sows 12.S5-13.75:
shippers tSok sSH 2;1,oo: ,G,o: n.n.. .u.u ..,
able supply largely cows: this class
fully steady; not enough other classes
on sale to test prices; broad week en- :
clearance. all classes; few good 1,050
sood 'fssfifessr seifeTs esSSs So si
COWS absent: utility II45S60-Is0o0: can. can;
utility bulls 1900 1900; load sood
Evening star., 1962-05-04
Illinois Executives
To Visit Capital

A delegation of more than so
Illinois business executives, all
members of the Illinois State
Chamber of Commerce, will ar
rive here next Tuesday morn
ing for a four-day visit with
members of Congress and gov
ernment officials.
They are expected to discuss
the businessmen's viewpoint on
current social security, unem-
ployment compensation and
labor legislation issues. A ma
jor target is expected to be
proposals on medical care fol
the aged under social security
House Bill 4222.
A special press luncheon has
been scheduled Wednesday
noon at the Presidential Hotel
Evening star., 1962-05-04
C&O Net Double
Year Ago in April

April net income of Chesa-
peake g. Ohio Railway rose to
$2,024,0OO or more than double
Sl,007,O00 in April last year,
the road reported yesterday.
April net was equal to rs
cents a share, compared with
IL cents a share a year ago.
Net income in four months
of this year aggregated $7,S77,-
900 or 81 cents a share. COM
pared with $5,537,000 or 81
cents in the same 1861 period.
April revenues totaled $28,-
676, 900 VS.. $23,310,000 a year
ago. Four months gross was
$lo7, 1862 900 VS.. $92,291. .O0O..
Evening star., 1962-05-04
C&P of Virginia
Honored at Richmond

The Chesapeake g. Potomac
Telephone Co. of Virginia,
which operates more than 80
per cent of the telephones in
Virginia. was honored last
night for public service and
significant contribution to
economic progress in the Com
monwealth."
The company received the
Bank of Virginia's 1862 cita-
ton in the banks fifth annual
Salute to Virginia industry.
Herbert c. Mosley, bank presi-
dent, presented the citation to
company representatives before
a dinner gathering of State
and local business leaders at
the Commonwealth Club in
Richmond.
Evening star., 1962-05-04
SCOPE, Inc., Gets
S500,000 Orders

SCOPE, Inc, Falls Church
research and development COM
pany, has received $500,000 in
new business this year through
mid-April reports President
Richard E. Williams.
This is the highest volume
Of new business in the firms
history, he said, and represents
an increase Of 66 per cent from
the same 1861 period.
Evening star., 1962-05-04
TALKING OF BUSINESS $50. a1iI<
New Eastern Shore Plant Will Can
SO Tons of Atlantic Tuno Daily
By TRUMAN r. TEMPLE
Star staff Writer

Tasty. succulent tuna, a ia
bic delicacy from the sea, has
made its debut in Maryland's
Eastern Shore economy:
State and industry officials
today dedicated a new tuna
processing and refrigeration
plant at Cambridge, Nd, the
third link in a trade route
made possible by discovery of
fishing grounds between Africa
and Brazil.
The plant, which ultimately
will employ $50 persons, is
owned by the Maryland Tuna
Corp. Training Of employees
already has begun, and the fac
tory'S capacity viii be about so
tons Of fish per day when the
assembly lines are fully
manned.
Industrial Complex
Maryland Tuna Corp. is part
Of an industrial complex involv-
ing both Hawaiian pineapple
interests and worldwide fish
ing operations. The plant is a
subsidiary Of Bundle Bee Sea-
foods, in turn owned by Castle
& Cooke, Inc. of Hawaii which
produces everything from sugar
and factory equipment to Dole
pineapple products. A minor
ity stockholder in Maryland
Tuna is Taiyo Gyogyo, Inc,
Japanese fishing concern.
Both japanese and Hawaiian
company officials attended to-
days opening ceremonies, in
cluding A. G. Bulge, board
chairman, and Malcolm Mac
Naughton, president Of Castle
and Cooke.
Maryland Gov. ]. Millard
Evening star., 1962-05-04
Ad Club to Honor
Cherner Motor Co.

The Washington Advertising
Club will honor partners of
Cherner Motor Co., Leon
Cherner and Henry Gertler, at
the next Tuesday luncheon at
the Presidential Arms.
The partners will receive the
clubs award of achievement.
Charles r. Beacham, vice
president-marketing Of Ford
Motor Co. will give the princi-
pal address. The Cherner Or
ganization operates one of the
largest Ford dealerships in the
world.
Evening star., 1962-05-04
Rockville Awards
S1,425, 900 Bonds

Rockville, Md, yesterday
awarded S1,425,0O0 of bonds to
a group headed by Alex Brown
& Sons on a bid representing
an interest cost to the city Of
2 967 per cent for a combina-
ton of coupons and maturities.
The bonds we're re-offered
today at prices to yield from
1.60 to 3.15 per cent depending
on maturitieS.
Evening star., 1962-05-04
Earnings

General Public Utilities in
year ended March 81 earned
$38, 1897 or $1.66 a share
VS.. $34,534,515 or $l.51 in pre-
ceding period.
Phelps Dodge Corp. in quar-
ter ended March 81 earned
$40, 1888. 400 or SLOT a share VS..
$9.128,123 or 80 cents in 1861
period.
Tidewater Oil in quarter
ended March 81 earned SO, $751;
900 or ga cents a share VS..
S10,979,00 or 73 cents in 1851
period.
Other earnings included:
Evening star., 1962-05-04
Purse Strings Loosened,
Consumer Purchases
Indicate NewApriIPeo
BY DONALD B. HADLEY
Star Financial Editor

have been ooenng their strings spend
ing freely and also making greater Of the abundant
credit facilities available them First National City
Bank of reported in its monthly review today
the arrival of spring, production and trade in
general from the hampeng effects Of unusually
Evening star., 1962-05-04
METALS

NEW YORK. May 4 (AP).-spot
.n. per 81 cen cent; as pound. Conn cSnnecticns' @
York. Zinc III cents pound, last st.
Louis. Tin. 1.183 q. pound, New York.
Foreign silver 1;01h per troy OUNCE,
New York. Pittsburgh scrap steel No.
27, ,00-2S.OO.
Evening star., 1962-05-04

are vast amounts Of non-
competitive products. raw ma
terials and items vital to our
national defense"
Evening star., 1962-05-04
OVER COUNTER

Following prices furnished by the Ma
tional Association Of Securities Dealers
In Washington represent the range within
which locally active securities could have
been bought or sold at pm. Friday,
Evening star., 1962-05-04
TREASURY BONDS

NEW YORK (AP)- Noon over the coun-
ter U. S. Government Treasury bonds,
bid asked, net change and yield for Fri
Evening star., 1962-05-04
AMERICAN STOCK EXCHANGE

furnished BY the Aoisd Press LIST INCLUDES MOST ACTIVE ISSUES
Foowns
Evening star., 1962-05-04
UNITED STATES TREASURY POSITION

T Partially tax exempt.
wi When issued.
Evening star., 1962-10-21
Downtown Shoppers Gold Bus

;l0c fare permits 2 hours shop.
ping, runs every S minutes at
regular bus stops on F, 7th and
9Th Streets, nv.
Evening star., 1962-11-28
Governor Vote
Decision Due
In Minnesota

ST. PAUL, Mimi, Nov. %
AP)-The tangled contest to
name q Minnesota Governor
goes to the State Supreme
Court for a possible decision
today.
Chief Justice Oscar r. Knut-
son yesterday set the hearing
on the motion Of j. Neil Nor
ton, attorney for Republican
Gov. Elmer L. Andersen.
Gov. Andersen was So votes
behind 1t. Gov. Karl Rolvaag,
Democratic candidate in the
November 6 election, on the
basis of figures listed last week
by the State Canvassing Board.
They showed Mr.. Rolvaag with
619,704 and Gov. Andersen with
619,646 in the States tightest
gubernatorial race.
However. Gov. Andersen con-
TENDS that recanvaSSed returns
in 10 Of the States 81 counties
should be counted. These would
give him q 142-vote edge over
Mr.. Rolvaag. 619, ,722 to 619.58O.
Main issue to be decided by
the Supreme Court is whether
amended returns from the 10
disputed counties will be
counted.
The five-member canvassing
board yesterday split two in
favor Of accepting the amended
returns, two against, and the
other contending the matter
should be referred to the Su-
preme Court.
Even after the Supreme Court
makes a ruling. the contest will
very likely go to a recount on
demand of the loser. That proc
ess could take several weeks.
Evening star., 1962-11-28
Boston Check Starts

BOSTON, Nov. % (AP)-
The slow recount of the Massa-
chusetts election. which thus
far has seen Democratic Gov. :
elect Endicott tChub) Peabody
gradually increase his lead over
Republican Gov. John A. Volpe,
promised to gain momentum to-
day when election officials start
checking the Boston returns.
With 429 precincts recounted,
Mr.. Peabody's margin was in
creased by $50 votes yesterday
over his original victory edge Of
1901.