davidaulloa/AmericanStories huggingface dataset:
Evening star., 1963-12-22
Arlington Bank
Declares Dividends

Directors of First National
Bank Of Arlington have de-
clared semiannual dividend
of 2 per cent and a 2 per cent
extra for a total of $1.2O a
share, President Walter ].
0'Donnell announced.
AS similar payments were
declared at mid-year, the years
declarations total $2.4O 2 snare.
The latest payment will be
made January Is to holders Of
record December 20.
A Christmas bonls also was
declared for employees on a
graduated basis according to
years Of service. Directors
transferred $4,000 from undi.
yvided profits to surplus, raising
the latter account to 81 million
Evening star., 1963-12-22
so Rate Dropped
By Coast SOL

LOS ANGELES (DD.-State
Mutual Savings & Loan Associa-
ton, a subsidiary Of Far West
Financial Corp, that six months
ago led a limited swing to a S
per cent dividend rate on saw
ings in the Los Angeles area an
nounced a cut to 4.85 per cent
for the quarter beginning Janu-
ary l.
Robert H. Greene, president
Of the associations parent COM
.pany, made no explanation Of
the move except to say direc-
tors "voted to match the indus
try's highest prevailing rate"
State Mutual's increase to 5
per cent six months ago was
followed Immediately by one
small association and one quar-
ter later by 13 others. The city's
largest savings and loan holding
companies which generally die.
tate the industry's prevailing
rate failed to follow the move
from 4.85 per cent.
Evening star., 1963-12-22
YOUR MONEYS WORTH
Deficit Financing
Key to Initiation

While President Johnson's
drive for a tight budget Is
impressive, the hard budget
facts still are:
The new budget will be at q
peak for war or peace; the
Treasury will become a huge
borrower in the last half of 1854
to finance another multi-billiOn
dollar deficit; the national debt
will climb to a new high; the le-
gal ceiling on the debt will be
raised again.
Nothing Congress will do can
change these four facts. The
heart Of the budget story lies
then in this one question and
answer.
Question: Will the fact that
the budget will be in the red at
a time when taxes are being re-
duced and the economy is
strong set off a new round Of in
flationary price increases, there
by sharply undermine your dol
lars buying power and its stab
ility abroad?
Answer: This will be deter
mined by the extent to which
the cash to cover the deficit is
borrowed outside the United
States banking system and by
whether interest rates are high
enough to encourage foreign
owners of dollars to keep their
funds invested in this country.
This may seem forbidding fl
nancial bafflegab, but here is
an explanation:
Cd When the Treasury bor-
rows money to finance a deficit
from non-bank inveStors-indivi.
dual savers, United States cor.
porations, foreign <investors-it
controls the inflationary pres.
sures implicit in the fact that II
is pouring many more billions
into the economy than it is tax.
ing out in taxes. This is because
L. the Treasury is tapping the Ma
tons savings, and obviously
, savings invested in Unitec
: States securities aren't availa
BILE for spending and, therefore
don't put extraordinary pres
SureS on prices.
ALI you need do Is think o.
what happens when you inves
in a SIS savings bond. AS Ions
as you hold that bond, you dom
have the cash to spend OF
things. AS it is with you, so it Il
with the big investors who bur
billions OF Governments lOUS.
(2) But when the Treasury
borrows money to finance
deficit from the United State
banking system, it "creates'
new money which lays the bas,
j for inflatiOnary price rises. Thi
: is because banks just place
r deposit in the Treasury's nam
5 on their books when they buy
i new Treasury obligation and tn
0 banks put up only a fraction Q
!. their own funds to finance thei
i purchase. AS the Treasur
spends the money in its deposi
Evening star., 1963-12-22
. BY MAX B. SHELTON
Associated Press STAFF writer

HOUSTON, Tex.-More Of the
fabulous natural gas reserves of
the famous King Ranch area of
South Texas are being made
available for market.
The new sales, however, will
60 to Texas industrial custom
ers instead Of to gas diStribu-
tors on the West Coast and in
the East and Midwest.
A new intrastate pipeline prof.
ect was announced last week
by the Humble Oil & Refining
Co. after two major interstate
deals involving King Ranch gas
fell through.
The HouSton-based domestic
operator for the Standard Oil
Co. New Jersey holds South
Texas gas reserves estimated in
excess Of Is trilliOn cubic feet.
This is about twice the total
amount Of gas produced in the
United States last year.
Plan Withdrawn
Objections hy a Federal Pow
er Com m / ssion examiner
prompted April withdrawal Of a
plan to make 700 million cubic
feet a day Of South Texas gas
available to the Columbia Gas
System companies for distribu-
tiOn to customers In Ohio,
Pennsylvania, West Virginia,
Virginia, Kentucky, New York,
Maryland, and the District of
Colu m bia. Humble now is
arranging to make South Louisi-
ana gas available to Columbia.
Objections also caused aban-
dOnment Of a proposal to make
$50 million cubic feet a day Of
Evening star., 1963-12-22
Branch Bank Built
In Just Four Hours

Temporary quarters for the
new branch bank of American
National Bank of Maryland at
Silver Hill road and Pennsylva-
mia avenue in nearby Prince
Georges County, Md, we're put
together recently in just four
hours.
Two prefabricated sections
were assembled by truck at the
site and will provide more than
Evening star., 1963-12-22
BUSINESS
BRIEFS

BituminOus Production In the
week ended December IA to.
tailed 9,475,0 tons compared
with 9,585,0OO In the previous
week and 7,872,OO0 in the like
week a year ago.-National
Coal Association.
Crude Petroleum Stocks,
domestic and foreign, on De-
cember IA totaled 242, ,793, 900
barrels, up 887, 900 for the week.
Bureau Of Mines.
Campbell Soup Co. directors
proposed a three-for-one split Of
the common stock and in
creased the dividend S cents to
66 cents. Stockholders will vote
at a special meeting on March
3.
COlumbia Broad. System
stockholders overwhelmingly
approved a two-for-one stock
split. CHS expects to distribute
the additional shares on Feb
ruary IS to holders of record
January 17.-Dow Jones.
Signal Oil & Gas Co. stock
holders voted by "a per cent to
merge with the Garrett Corp.
Garrett stockholders previously
had approved the merger.
Allied Chemical Corp. an
nounced It will construct a $35
million fertilizer plant in India
in a joint venture with Andhra
Sugars, Ltd.
MOnsantO Chemical Co. an
nounced plans for a multi-mil-
ion-dOllar expansion Of its sty-
rene plastic production facilities
to bring capacity to more than
300 million pounds annually
Dow Jones.
COurtauIds IN. Az Ltd. an
nounced it will invest $1O.5 mil
lion in increasing the capacity
of its Lemoyne (Ala.) rayon sta
pie plant to bring capacity to
200 million pounds a year.
AerOquip Corp. announced it
has acquired the Lee Rubber &
Tire Corp. Republic Rubber
Division for an estimated SIS
million.
Ford Motor Co. has been
awarded three Government con.
tracts totaling more than s.
million to build trucks for the
Army and trucks and cars fol-
various civilian Federal agen.
cies.
Evening star., 1963-12-22

Directors Of Vienna Trust Co.
have authorized an offering Of
1880 additional shares of the
banks $40 par value common
stock to stockholders at a sub
scription price of SIS a share.
Two new shares will be Of
fered for each three held as Of
record December %. The dead
line for subscriptions is 2 pm,
December 80.
In a letter to stockholders,
President G. Norman Cobb said
the offering will strengthen the
banks capital structure, not
only currently, but during the
period Of future anticipated
growth.
The banks assets stood at a
new high Of $2S, 500, 126 on No
vember 80, compared with $19,-
172,040 at the end Of 1862, he
pointed out. Net operating earn
ings for II months ended No
vember 80 totaled $129, ,209 or
well above $S7,O86 for all Of
1862.
The bank now has capital
stock of $562, 500 and surplus oI
$675, 900, a total Of $1,237, 500
After the offering it will have
capital stock of 1897, 500 and
surplus of $1,237, 500, a total Of
$2,175,OO
Book value of present stock is
$3.50 a share VS.. $3.50 a share
at the end of 1862. After the Of
fering it will be $25.42 a share.
United Virginia Bankshares,
Inc, principal stockholder Of
the bank, has agreed to make
available sufficient shares to
round out the pro rate offering
to the next high full share for
all other stockholders whose
rights would otherwise result in
fractions Of a share. 1t also has
agreed to purchase at SIS a
share all shares not subscribed
for by other shareholders.
Evening star., 1963-12-22
More King Ranch Gas
To Go to Texas Users

gas from the king Ranch area
available for movement to
Southern California markets. A
modified proposal now calls for
the gas supply to come from
Humble's huge Katy field west
of Houston.
Humble now plans to con-
struct a 290-mile line Of So
and 30-inch pipe from its King
Ranch gas plant to the Houston
industrial area.
Expansion Possible
The project will make 1t pos
Sible for Humble eventually to
pipe about two billion cubic feet
of gas daily from South Texas
to the Houston areas sprawIing
industrial complex.
The new line will have an ini-
tial capacity Of 615 million cubic
feet a day and an ultimate
capacity of IL billion. It will
and, for the most
part, will parallel q 2S8-mile
line Of 3O-inch pipe Humble's
Gulf coast industrial gas system
began using four years ago.
The line completed In 1859 be-
gan with a capacity Of $50 mil
lion cubic feet a day, which, at
that time, was more gas than
was being used on an average
day in all the New England
States combined.
Construction Of the new $4S
million line is to be completed
late next year. It will receive
gas supplies from the IS fields
now servicing the 1859 line.
When the old line began opera
tons just four years ago its ini-
tial supplies came from only Is
fields.
Evening star., 1963-12-22
Bank Honors Staff
At Yule Party

Three staff members of the
Bank of Commerce received
savings bonds for not missing q
single day Of work for more
than 10 years at the banks an
nual Christmas party at the
Mayflower Hotel last night.
They were Thomas ]. Norris,
Maury l. DeakinS and Mrs.
Nina Howard.
Awards for meritorious Serv.
ice went to Ann Caho, Sidney
Camden, Jean Cam, Betty Mer'
chant, Frances Zablocky, Gleds
Kupcek, Barbara Hudson, Betty
MoSel and Bessie Mountz. Some
$50 guests at the party included
directors, officers and stat
members.
Evening star., 1963-12-22
Dividend Increased
By ANNAPOLIS Bank

Farmers National Bank of
Annapolis has increased Its
semiannual dividend to 80 cents
a share from IS cents a share
paid previously, President Jo-
seph N. Shumate reported.
The larger dividend will be
paid January 10 to stockholders
Of record December 81.
Directors have added $4,000
to surplus, raising that account
to $3.50, 900. Another $4,000 was
added to reserves, lifting that
account to 5000, 900. Capital ac-
counts Of the bank now exceed
S1 < million
Evening star., 1963-12-22
Dividends Declared
By First National

Directors Of First National
Bank Of Washington have de-
clared a regular quarterly divi-
dend of 81 a share or 2 per cent
and an extra dividend of 81 a
share or 4 per cent, President
A. Scott 0ffutt announced.
The dividends will be paid
December 81 to stockholders of
record at the close December
Evening star., 1963-12-22
Riggs, Mutual Fund
Offer Pension Plan
For SeIf-EmpIoyed
By DONALD B. HADLEY
Star Financial Editor

Washington Mutual Investors Fund and its national dis
tbtor American Funds Distributors Of Los Angeles and New
York, have completed arrangements with Riggs National Bank
under which the bank will act custodian for seempoyed
individual retirement plans marketed by the mutual fund.- it
was announced yesterday.
The prototype plan and related custodian agreement have
Evening star., 1963-12-22
Vienna Trust Offers
1880 New Shares

900 square feet Of space, includ-
ing three tellerS' cages, a night
depository and a drive-in win
dow,
Evening star., 1963-12-22
D. c. SECURITIES

Fridays closing quotations on Washing.
ton stocks listed on the Philadelphia -Balti-
more Washington Stock Exchange:
Evening star., 1963-12-22

Quotations for lO0-share lots. U For
25-share lots. Othem lo-share lots. xd Ex-
dividend. Plus extra or extras.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02
Long Urges
US. Stockpile
OF Sugar

Senator Russell Long, Demo-
crat Of Louisiana, suggested
yesterday the United States
should consider building up a
stockpile of sugar to prevent
sudden sharp increases in price,
such as occurred recently.
The Senator, a member of
the Finance Committee which
is investigating the sugar
situation, agreed with Agricul-
ture Department officials that
the United States has an ample
supply of sugar for this year
and that prices will go down.
However, he thought the
Sugar Act might be strength
'ened to make sure no short
age occurs in time of emer-
gency. He suggested stockpil-
ing, so that, in the event some
nation goes Communist or has
a big crop failure, we could
protect ourselves from specula-
tors"
The United States might
consider trading surplus wheat
for extra sugar consignments,
he said.
The Senator also proposed a
change in the Sugar Act to
encourage an increase in do
nestle production and to re-
quire foreign producers to sell
sugar accorded them by quota
in the law at a set price.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02
Women Screams,
HoIdup Is Fooled

Mrs. Molly Bell, 80, screamed
early yesterday when a would
be bandit tried to rob the New
York Lounge, 1923 L street
NV. The bandit fled.
Police said that Mrs. Bell,
night manager Of the lounge,
was closing the place shortly
after 2 am. when a man walked
from the rest room and handed
her a piece of paper with some
scribbling on it.
The note said: This is a
holdup. Put the money in a
bag and no one will be hurt"
Mrs. Bell said she screamed
bloody murder" and dropped to
the floor behind the bar. An
other man who had been sitting
in the lounge, walked toward
the bar and the bandit fled,
police said.
The bandit was described as
white, 10 to 81, 5 feet 8 and
lao to $50 pounds. He had
sandy-colored hair and wore a
dark shirt and trousers.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02
Consolidation Set
In Prince Edward

FARMVILLE. Va, June /
(AP).-The lower schools OF
Prince Edward School Founda-
ton, a private segregated school
for white students, will UNI
dergo partial consolidation next
fall.
Robert T. Redd, acting ad-
ministrator of the foundation,
said the primary reason for
the move was TO put as many
children as possible under a
one-teacher, one-grade situa-
ton.
He said the foundation also
wanted TO departmentalize the
9Th and 7th grades better 10
prepare the pupils for high
school.
Prince Edwards public
schools have been closed since
1859 in a racial dispute. White
children have attended the
foundations private schools. In
the main, Negro pupils have
been without formal education
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02
81 in Alexandria
Ask School Shift

Thirty-one Negro pupils in
Alexandria public schools have
requested transfers to six pre-
dominantly white schools next
fall.
AS in past years. every trans
fer request by Negro pupils has
been approved by the city as
sistant school superintendent,
Raymond Sanger said. The re-
quests will be forwarded to the
State Pupil Placement Board
in Richmond for final ap-
proval.
The majority Of the students
asked for transfers because
they live closer to the white
schools, Mr.. Sanger said.
The number Of students
seeking enrolment in each
school is: George Washington
High School. 5; Hammond
High School, 2: jefferson
School, II; Ficklin, 5; Prince
/, and Lee School, /.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02
Travelled Full Time
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Free Model
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ELMsFORD, N. Y. (speciaD
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developed the smallest hearing
aid Sonotone ever made to help
the deafened-in fact, it's one
Of the worlds smallest!
Everything is worn in the ear
for cordless hearing. There are
no outside cords, tubes or wires.
Nothing is worn anywhere else
except in the ear.
To prove the new "Wisp-Ear"9
can be worn in the ear, a limited
number Of plastic replicas are
available FREE to examine in
privacy. Those with hearing
problems are urged to use the
coupon below to obtain a replica
mot a hearing add which is
the same size as the actual
Sonotone.
This new hearing aid marvel
climaxes "a years Of Sonotone
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02
Honor Plan Tried
ByU. S. Customs

NEW YORK, June / (AP),
-Forign visitors and United
States citizens passing through
Idlewild Airport from abroad
today found it much less trou-
blesome TO clear customs be-
cause of an honor system ex-
pertinent.
The traveller has only to fill
out an Identification form and
orally declare whether he pur-
chased more than the $l0C
limit for nonduty entry.
The system requires no list
ing of purchases except in cases
where the total value exceeds
the 500 limit.
This is the first time the sys-
tenn has been tested in the
continental United States. II
successful, 1t will be applied
TO all aerial ports Of entry Il
the United States.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02
BY the Associated Press

State Department officials
said yesterday that Represent
alive Selden, Democrat Of Ala
bama. was not speaking for the
Government in making state
ments about the Dominican
Republic which drew an angry
retort from President Juan
Bosch.
Mr.. Selden told the House
Friday that Communist SUBJ
versive penetration in the Do
minican Republic apparently
is not being effectively count
cred by the new Dominican
government"
Asked if Mr.. Selden's views
represented the United States
official position, State Depart
ment officials emphasized the
legislator was speaking only
for himself. and in no way for
the State Department or the
Kennedy administration.
President Bosch told Mr.. Sell
den, in effect, to mind his own
business and not NEEDLE in
Dominican affairs.
The controversy flared just
before the Dominican Repub-
lies new Ambassador to WASH
ington, Enriquillo del Rosario
Ceballos, presented his creden-
tials to President Kennedy. The
Ambassador called Mr.. Kennedy
"a wonderful person." and said
hs visit had been most friendly
Mr.. Kennedy, in town, assured
the Dominican Republic Of this
country's continued "synlpa-
thetic interest and ready sup
port" and expressed gratifica-
ton at the progress made by
the Dominican Republic "in SC
remarkably short a time"
Asked about Mr.. Selden's
comments, the Ambassador
said they appeared to reflect
stories about the Dominican
Republic by reporters who. hi
said. are not well informed.
Mr.. Selden. meanwhile. an
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02
Two-AIurm Fire
Destroys Shed
In Vacated Yard

A two-alarm fire broke Out
yesterday In an abandoned
lumber yard In the Southeast
redevelopment area.
Fire officials said the blaze
at Eleventh and o streets Sc.
consumed an empty shed and
debris in the lot. The fire was
brought under control quickly
but firemen said they would
have 10 spend several hours
soaking down the debris.
The fire, third at the
abandoned lumber yard In
recent months. destroyed the
remains Of a 200-foot-lone
shed that had been used II
store lumber when the property
was owned by the Galliher anc
Klimkiewicz Lumber Co., &C.
cording TO firemen.
The building was Of frame
construction with a slantinf
tin roof. but most OF II hae
been destroyed or torn dowr
in the previous fires. The FirI
Marshal's office was investigat.
ing the cause Of the blaze.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02
MUSIC ON THE SQUARE
Mexican avyQ Quintet Visits

The Quintet Of the Mexican
Navy Band serenaded the press
yesterday at Pershing Square
and may have just missed being
censured for disturbing the
peace.
AS they were playing for
photographers, a policeman ap-
preached. But the group quickly
picked up the tempo, packed up
their instruments and headed
back to their rooms at the
Willard Hotel.
Here on a goodwill exchange
with the United States Navy,
the string-vocal "quinteto" was
brought to Washington by Navy
Secretary Fred orth, who saw
them perform in Mexico last
summer.
They serenaded Secretary
Korth's daughter, Verita, on
her 18th birthday and followed
her through the streets with a
serenade at every turn.
Played Everywhere
Arriving in Washington a few
days ago, the seven musicians
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02
DR.. Hill Honored

DR.. Daniel G. Hill. dean Of
the School of Religion at How
ard University and a member
of the university faculty for IL
years, will deliver the baccalau-
reate address and receive ar
h orary degre at Lincoln
University, Pennsylvania. FRI
day.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02
State Disowns SeIden
On Dominican CHARGE

nounced that the United States
Ambassador to Haiti, Raymond
L. Thurston, will testify Tues
day at a closed session of the
House Foreign Affairs Subcom-
mittee on Inter-American At
fairs.
Mr.. Selden, subcommittee
chairman, said recent develop
ments in Haiti indicate it is
another danger spot in the
Caribbean" Haiti shares with
the Dominican Republic the
island of Hispaniola, a close
neighbor of Communist Cuba.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02
Lets make
Washington, D. c.
An Ideal City,"

"A Coll To Positive, Personal Ond
Group Deduction To Moral ond
Physical Reform To Moke Woshins.
ton. D. c. An Ideal City"
Washington Is not controlled by subtle.
secret, outside forces over which the
citizens hove no control. The men ond
women who moks up our eiiiEenry, by
their ociions or Injections, moks bsoUti.
ivl or mar The city In which We live.
The physical ond moral forces Necessary
10 srsois the city Of our drsoms ore
within our bounds. " soeh one will
seorsh his own hsofi and NY 70 ellminoie
every onii.socio thought, altitude, word
ond oct and substitute for those thoughts,
oiii,vdes, words end oeis Of kindness,
goodwill. foirploY, eooperoiion and yn'
deftionding IN oil Of his eontecis with
others, he will hove mode, Of leosi, one
good citizen Of himself. His life, thereby,
Will become challenge 10 others
For on ldeol city, physical rehabilitation
u neesssorYI on adeqvoie community u
essential, ond the bosie needs Of me
leosi Citizen must be supplied. However.
N Is men who hinder or promote these
things. So whether one 10 high or low,
rich or poor, lsoder or follower, eosh
con moks his contribution to~ofd the
we'll .bsinu Of the community and oil
working together con help efeois Wosh.
insion city o. which oil will be proud
LETS Make Washington, D. c.
Into An Ideal City"
Paid for by a group Of MiHi,isri
BAPTIST MINISTERS coNFERENcI
Rev. lesley Bvls, Pres.
Bobiiti Convention OF
District Of colvmblo 4 Vicinity
Rev. Raymond 2. Robinson,
! Moderator
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02

members sing. They have trav-
eled extensively in Latin
America, Japan and the Philip
pines.
Other members of the group
are Cesar Jimenez Gomez, Jose
Maria Solomon Vazquez, Cef-
erino Rodriguez Serrano. Bal
tasar Rosas Rangel, Jorge
Ricci Velaczo and Carlos Mo-
reno Contreras. All are ranked
as musicians, first class.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02
Motto of Ticket Agent:
Fly Now, Pay Never

officials said he rented cars and
lived high there on his Swissair
credentials until he was picked
up last week on orders of the
Queens County district attor-
ney's office and flown back.
Judge Bernard Dublin had one
question to ask Mr.. Merz be-
fore setting bail Of $4,000 for a
later hearing:
you won't fly away from us,
will you?"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-02
Choir Anniversary

Senior Choir No. l Of the
Florida Avenue Baptist Church
will celebrate its golden ami
versary with a special concert
at 1880 o'clock tonight in the
church'S temporary location
1888 U street NV.