davidaulloa/AmericanStories huggingface dataset:
Evening star., 1963-12-29
Rails Income Gains,
Profit Rate Improves

estimated II per cent from the
1862 level, with nearly 100000
flat cars carrying revenue-pro-
ducing highway trailers or
containers.
Passengers carried by rail-
roads dropped an estimated 3
per cent in 1868 from 1862 and
passenger miles dropped 7 per
cent. COmmuter travel re-
mained about the same, the
AAR reported.
Railroads capital improve
ment spending totaled an esti,
mated 81 billion in 1868, up
more than 20 per cent from last
year. Railroads installed $4,000
new freight cars in 1868, up 8
per cent from last year, and al
the close of 1868 thtey will have
on order an estimated $4,000
new freight cars, more than
double the number on order a
year ago.
Evening star., 1963-12-29
Earnings

Commonwealth Edison Co. in
year ended November 80 earned
$91 ,283, ,587 or $2.22 a share VS..
$88, ,173, ,O47 or $2.11 in 1862.
Delta Air Lines, Inc, in 5
months ended November SO
earned $5,558,OOO or $2.18 a
share VS.. $6,972, 900 or $2.7S in
1862 period.
Schenley Industries, Inc, in 3
months ended November &c
earned $5,O26,664 or 80 cents q
share VS.. $5,529,219 or 81 cents
in 1862 period.
Cessna Aircraft Co. in year
ended September 80 earned $4,,
246, ,946 or $1.55 a share VS.. $4,.
661 IA or 81. Al in 1862.
Dubois Chemicals, Inc, in 6
months ended November &c
earned $2,623, 900 or 96 cents a
share VS.. $2,243,OOO or SO cents
in 1862 period.
Hudson Vitamin PrOdS. in
months ended November 81
earned $474,374 or Sc cents q
share VS.. $5O6,O35 or go cents ir
1862 period.
Evening star., 1963-12-29

The railroad industry's net
income rose to an estimated
$3.50 million this year from SSH
million in 1862, the Association
of American Railroads reports.
An AAR spokesman said this
was the second consecutive
year of increase after a steady
decline in net income during the
previous five years. The 1863
estimate is still 80 per cent
below the predecline 1856 level,
he said.
The association said rail-
roads rate of return on net
investment rose to slightly
above 3 per cent in 1868, one,
third of a percentage point
above 1862.
Revenue freight carloadingS
in 1868 rose an estimated 100000
cars from the previous year tc
28.9 million. Revenue ton-miles
rose S per cent to 622 billion
the report said.
Piggyback loadings rose ar
Evening star., 1963-12-29
TWA LISTS 1868
AS BEST YEAR
IN ITS HISTORY

SAN FRANCISCO (AP).-
Trans World Airlines has
reported that the IL months
ending November 80 was
the most successful year in
company history.
The net profits were an
nounced as $18,O5O, 900 on
revenues of $469, no. 900.
This compares with a net
loss of $1O.83O,OOO for the
period ending November 80,
1862.
There were an estimated
6,761,527 passengers for the
1868 period, 1863 per cent
more than 1862. An esti-
mated 1873, 1874, 900 cargo ton
miles were announced for
the 1868 period, up 1872 per
cent from the year previous.
TWA President Charles C.
TillinghaSt predicted a Is
per cent increase in passen-
ger traffic for next year and
a 81 per cent increase in
cargo volume.
Evening star., 1963-12-29
Area Bank Deposits
Exceed S3 Billion
For Rise of 12.5@
By DONALD B. HADLEY
star Financial Editor

Deposits of 50 banks and trust companies the Washington
Metropolitan Area exceeded So billion for the first time on record
December 90 date of the recent bank condition CALL survey
by The Star disclosed yesterday.
The new peak of 639 up l25 per cent from
521 on December % last year and also was moderately
ahead of the previous peak of s. 9 96 on September 50
this year.
It contrasted with area deposits of s. 97 at the end
of 1858 and 81 599 947 8O2 at the end of 1858.
Deposits of 20 banks in Maryland sections of the ex
banded to December 2 jump OF 2l2 per cent
from S5l2 O31 year earlier, but only slightly ahead OF
S6l7 O9 last September go They Oaed S26 million hve
years earlier and Sl698 million 10 years earlier.
Deposits of 25 institutions Of the areas Virginia sections agge
gated SO6 December 20 gain OF 1913 per cent from
OO year earlier and ahead of on Septem
ber go They amounted to $28O4 million five years ago and
$l6S2 million 10 years ago.
As previously reported IA District of Columbia banks had
81 915 December 2O up 84 per cent from $66 O6
wear earlier and well ahead of s. 2 the previous
call They totaed SIS billion five years earlier and 600
10 years earlier.
Largest Gains Listed
Among suburban banks largest dollar gains from year
ago included Suburban Trust SIS million; American National
Si43 million; Maryland National $39 Million Citizens Bank
Of Maryland S138 million First National Of Southern Maryland
S116 Million Mt Vernon National Bank Trust SlO2 million
First Citizens of Alexandria, $93 Million Old Dominion Bank,
$8.7 million
Leading percentage gans many of them for newer nStu-
ons included Security National 93 First National of Vienna
1920 Maryland National 496; First National OF Southern
Maryland 514 Metropolitan National 47; State National
of MARYLAND, 475qo; Fairfax County National $780,
-Four new Virginia banks answered their first condition call
They were National Bank of Commerce with $9l5S3 de-
posts National Bank of RoSslyn $12749; Peoples Bank
Trust $424514 Republic Bank Trust OF Herndon, $4Oo0
Individual Bank Totals
Individual bank totals for December 20 compared below
with year earlier and September 80 this year.
NApvT AMI pANKc (oO\
Evening star., 1963-12-29
D. G. Firm Wins
So Million NASA
Printing Contract

McGregor & Werner, Inc, of
Washington, has been selected to
operate the National Aeronau-
tics and Space Administrations
Launch Operations Center field
printing plant located near Cape
Kennedy, Fla, company PreSi-
dent R. K. Clark announced
yesterday.
1t is estimated that the three
year cost plus award fee
contract will approach So mil.
lion with total employment to
reach 135 persons as the plant
reaches maximum potential.
The printing plant operation is
part of an Administrative and
Management Services contract
awarded to the LTV Range
Systems Division of ng-Tem-
co-Vought, Inc, of Dallas. LTV,
as prime contractor, teamed
with Technicolor Corp. of Holly
wood, Computer Applications,
Inc, of New York; Lovelace
Clinic of Albuquerque and Nc
GregOr & Werner, Inc, to offer
the complex skills required by
the space agency. In addition to
assuming responsibility for all
printing operations for the
Launch Operations Center, Nc.
Gregor & Werner will operate q
complete Recommendation support
installation, including micro
filming, aperture card mount
ing, diazo and Xerox process
ing.
The printing plant operations
will shortly be relocated to the
Merritt Island Launch Area
site of the manned lunar land
ing program. The operation of {
number of satellite printing
plants is included in the con
tract, some of which are located
at launch areas to provide fol-
immediate dissemination o.
missile flight data. The firm
will shortly begin recruiting fol
the operation. McGregor s
Werner, Inc, has headquarter!
at GAIL Chillum place NV.
Evening star., 1963-12-29

On Monday, Anthony de An
gels, 4S, the president of Allied,
was indicted by a Federal
grand jury here on charges Of
transporting more than $3s
million in forged warehouse
receipts for vegetable oil across
State lines.
Mr.. De Angels is alleged to
have used the receipts as Secu'
rity for loans. The Government
claims the receipts were issued
by Allied for 1896 million pounds
Of vegetable oils allegedly
stored by Allied in tanks Of
American Express WarehouS'
ing, Ltd, Of Bayonne.
A witness at the New York
discovery hearing for creditors
of Allied and related companies
was william o. Blocking, secre.
tary of Superintendent Co.,
Inc, of New York. Superin'
tendence is an oil surveying
firm that certifies weights an6
qualities of commodities fol
exporters and importers.
Mr.. Blocking told of an in
ventory of Al tanks his company
made for Harbor Tank, which
also stored oil for Allied.
Mr.. Blocking said some tank:
we're found to contain only 5 Il
10 inches Of vegetable oil while
others contained water or fue
oil. He said the inventory wa'
made at the written request o
H. L. Kaufman, president o
Harbor Tank.
Evening star., 1963-12-29

NEWARK, N. j. (AP).-JO-
seph LomuScio, custodian until
recently of the bankrupt Harbor
Tank Co.'S storage tanks in
Bayonne, is due to appear to-
morrow before Federal Bank
ruptcy Referee William H.
Tallyn for further questioning in
the tangled affairs of the also
bankrupt Allied Crude Vegeta-
BILE Oil Refining Corp. Mr.. LO-
muscio was in charge of inven-
torying the oil contents of the
tanks.
Meanwhile, Federal Judge
Robert Shaw is reserving deci-
sion on whether to hold Mr..
LomuScio in contempt-for a
second time-for refusing to
answer certain questions in the
case last Friday. Last Monday,
Judge Shaw did find Mr.. Lo-
muscle in contempt and COM
mitted him to Hudson County
Jail. Mr.. LomuScio was re-
leased when he turned over
records requested in the inquiry,
De Angels Indicted
In New York, creditors were
told that an inspection of 16C
tanks used by Allied showed
that some contained water,
others fuel oil and some were
nearly empty. The inspection
was made from November q
through November %, immedi'
ately after Allied declared itsell
bankrupt.
Evening star., 1963-12-29
Pension Program
Of VALTC OKd

Variable Annuity Life Insur-
ance has received word from
the Internal Revenue Service
that its pension plan for self
employed persons has qualified
for taX-deferment status under
the retirement act of 1862, Pres
ident John D. Marsh announced
yesterday.
Under the act, commonly
known as HR-1O or the Keogh
bill, self-employed individuals
are treated as employees of the
business which they conduct, so
that they may be covered under
qualified employe retirement
plans. -r
A self-employed person may
contribute annually up to 10 per
cent of his earned income or 81
500, whichever is less, and may
deduct one-half of this amount
from taxable income. r
The VALIC HR-1O retirement
plan also has been approved in
States in which the company is
operating, Mr.. Marsh said. The
company is licensed in q States
and the District of Columbia.
Evening star., 1963-12-29
Rituminous Production in the

BituminOus Production in the
week ended December q to-
tailed 9,O6O,OOO tons compared
with 9,465,OOO in the previous
week and $685., 900 in the like
week a year ago.-National
Coal Association.
Intercity Truck Tonnage in "a
metropolitan areas across the
Nation in the week ended De-
cember 81 was down SO per
cent from the previous week
and down 3 per cent from the
like week a year ago.-Amer.
Trucking ASSns.
Rail Freight LOadings in the
week ended December 81 to-
tailed 497, 900 cars, down 7.9 per
cent from the previous week
and down 2.8 per cent from the
like week a year agO.-AsSn. of
Amer. Railroads.
Retail Sales over the Nation
in the week ended December q
totaled about $3.50 billion, up 9
per cent from the previous
week and about 4 per cent
above the like week a year ago.
Commerce Department.
Wholesale Food Index, based
on the cost of a pound each of
81 foods in general use, last
week was $5.82 compared with
$5.81 in the previous week and
$5.92 in the like week a year
ago.-Dun & BradStreet.
Crude Petroleum Production
in the week ended December 20
averaged 1881, ,21O barrels daily,
down 22,15O from the previous
week and compared with 7,34O,-
11O in the like week a year ago,
according to the American
Petroleum Institute. The Bu.
reau of Mines reported dome.
site and foreign crude stocks on
December 81 totaled $244, ,281 ,OOC
barrels, up 100000 for the
week.
| Maryland Casualty Co., Of
Evening star., 1963-12-29
S5OOMHLIoN DECISION NEAR
Gas and Electric Customers May Get Big Wndfa

whether the tax changes actual
ly are a saving on their costs. If
their costs 60 down, their rates
are suppose to follow.
Should FPC decide-as some
indications suggest it wiIl-that
the tax provisions do amount to
a saving, then the utilities will
probably be told to pass this on
to customers.
However, the utilities want
the commission to declare that
the benefits are either Just
temporary in the sense that
their tax bills will 60 up when
the benefits are used up-or are
special benefits meant for the
companies to keep.
FPC is considering a set of
accounting rules and the meth
cd of working into rates the
1862 tax provision - that is, the
investment tax credit-and the
rate-making treatment of the
Evening star., 1963-12-29

anew early in 1854, it won't stay
settled. The tax bill now pend
ing in Congress would give the
benefits of the 1862 credit to the
companies. And amendments
that Senators want to add to the
tax bill would make sure the
fruits Of the older laws stay
with the companies.
Some commission aides,
including the chairman, Joseph
Swidler, would rather Congress
did not get involved. Mr. Swidler
told Senators the pending propo-
sal would be the first time
that Congress has prescribed
the regulatory treatment to be
given to tax relief"
There will be some resistance
in Congress to taking this new
step. But it is also true that the
provisions may have to be left
in the tax bill in order to keep
the support of oil and gas State
lawmakers.
Evening star., 1963-12-29

challenges by the companies
could delay or even rule out
rebates and lower rates.
The three cases FPC is pom
dering involve tax dollars that
Congress decided to leave with
the utilities, at least temporari-
ly.
Each of the laws passed in
1850, 1854 and 1862 was designed
to stir the utilities-and other
businesses, too-into building
more plants. Each was a varia-
ton of the technique Of letting
companies get back sooner the
money they spend on new facto-
ries and machines.
Thus, the firms got either
bigger annual tax writeoffs or a
one-shot forgiveness of some Of
their tax.
For utilities, these tax meas
ures take on a special mean
ing. For them, the question is
Evening star., 1963-12-29

1880 and 1854 changes-the fast
writeoff measures.
More than $500 million, by
rough count, has built up on
utilities account books as a
result of the 1850 and 1854 tax
changes. This figure grows by
tens of millions each year. And
as much as $15O million per
year apparently is involved in
the 1862 credit provision.
The commission has never
had final policy on the rate
treatment Of the 1862 measure.
But it did have one, in effect
about eight years, on the earlier
laws. And that policy left the
tax dollars with the company.
This was changed to a divide
the benefits" rule in 1861. And
now FPC is reconsidering the
whole thing.
There is a possibility that,
even if FPC does settle this
Evening star., 1963-12-29
ACL Financing

NEW YORK (DO.-Atlantic
Coast Line Railroad will oper
bids January 8 for $6.6 million
of equipment trust certificates
T he certificates, designated
Series T, will mature annually
over a term of Is years witt
final maturity February l, 1879
Evening star., 1963-12-29
Official in Tangled Edible Oil Case
May Face Second Contempt Charge

During the inventory, Mr..
Blocking said he informed Mr..
Kaufman by telephone of
partial results. He said he told
Mr.. Kaufman, Larry, l don't
think it looks good what we
found there"
Mr.. Booking said Mr.. Kauf-
mann made no comment.
Mr.. Kaufman, whose compa-
ny went bankrupt in the wake
of Allied, appeared as a witness
at a hearing conducted by
Judge Shaw here.
Began Leasing Tanks
Questioned by Joseph M.
Nolan, Newark lawyer who is
reorganization trustee for Har-
Dor Tank, Mr.. Kaufman said
he first met Mr.. De Angels
about 1856 and began leasing
storage tanks to Allied in 1860.
Mr.. Kaufman said he first
SurmiSed something was wrong
with Allied when Allied filed a
bankruptcy petition on Novem-
ber 10. Mr.. Kaufman said he
got in touch with his lawyer the
same day.
Mr.. Kaufman said that Mr..
LOmusciO was custodian of all
HarbOr Tank storage tanks in
Bayonne from 1860 to 1868, and
that Mr.. Lomuscio was in
charge Of inventorying the oil
contents, including Allied's.
Mr.. LomuScio himself testi-
fled and was questioned by Mr..
Nolan about bulk Weighers &
Samples, Inc, of West New
York, in which Mr.. LomusciC
became an officer and director
after leaving Harbor Tank. Bulk
weighters measured oil in Allied
Tanks at the Bayonne farm.
Answers Refused
But MIR. LomuScio refused to
answer some questions and
Judge Shaw then reserved
decision on whether to hold him
in contempt. Judge Shaw also
ordered him to appear tomor'
row before Referee Tallyn.
At still another hearing Fri.
day in Newark on the Allied
case, Referee Tallyn approved
the sale of more than IL mil.
lion pounds of tallow owned by
Allied to two high bidders.
Mr.. Tallyn also approved the
sale Of 10000 pounds Of soy.
bean oil and 10000 pounds Oi
choice light grease owned by
Allied.
Evening star., 1963-12-29
Arlington Trust
Plans Move

Arlington Trust Co. will move
its RoSslyn office to the ground
floor of the new 12-Story Key
Building at 1900 Wilson boule-
ward next summer, President
Ernest D. Wilt announced yes
terday.
Its present quarters, which it
has occupied since 1908, will be
demolished for Interstate Route
66. The landmark at 2O29 North
Moore street was enlarged in
1915 and again in 1927.
The main office of the bank
originally was in the Rosslyn
Building, but it has been at the
intersection of Court House road
and North Sixteenth street for
some years. Founded in 1906,
Arlington Trust is Arlington's
oldest bank.
The new RoSSlyn office will
be located in the heart of a
multimillion-dollar office and
apartment complex, existing and
under construction. Its $500
Square-fOot lobby will contain
six teller windors, safe deposit
boxes, the loan department,
night depository and will provide
complete banking services.
In addition to the main office
and Rosslyn office, other loca-
tons include the Bancroft office
at Columbia pike and South
George Mason drive, the Penta-
gon City office in the River
House and a facility in the
Arlington Navy Annex Building.
Evening star., 1963-12-29
By LYLE DENNISTON
Star Business Writer

Sometime soon, possibly this
week, a Government agency
will begin making policy worth
a haf-biIIion dollars to utilities
and their home and factory
customers.
At issue, in a series of three
rulings almost ready at the
Federal Power Commission, is
a method of dividing up tax
benefits Congress gave gas and
power companies in 1850, 1854
and 1862.
The policy might turn out
otherwise, but present signs are
that the customers will get most
of the benefits. They could get
big refunds on gas and electric
bills paid in the past and siza-
BILE cuts in rates to be paid
from now on.
If the policy does favor the
ustome erS, however, court
Evening star., 1963-12-29
National Bank
Is Chartered in
Springfield, Va.

A charter has been approved
by the Controller of the Cur
rency for a new national bank in
Springfield, Va, to be known as
the Guardian National Bank.
John L. Scott, Springfield
attorney and agent for the
organizers, announced the ap.
proval and said the new bank
will be located in a building ia
be constructed on Commerce
street in Springfield.
William C. Simms, president
of the Springfield Chamber Of
Commerce and a former officer
and director of the State-char-
tered Northern Virginia Bank,
is expected to become president
of the bank.
The institution will have an
initial capital structure of $780,
900. Stock will be sold at SIS a
share and will provide a capital
stock account of $5O0,OOO and
surplus and undivided profits Of
$25O,OOO.
| other proposed directors
include Richard L. Braun, law
professor at Georgetown Univer-
sity; Ray A. Doyle, Agricul-
ture Department official; Mar
vim R. Owens, Allyn'S Mems
Shops; John L. Holcombe, presi-
dent of Virginia Savings & Loan
Association; Joseph L. Geera-
ert, builder and past president
of the Metropolitan Builders
Association, and Charles S.
Shaw, Alexandria realtor.
The new bank expects to open
next summer in quarters to be
constructed in loft-type sections.
Evening star., 1963-12-29
Alexandria National
Announces Dividend

Directors of Alexandria Ma
tional Bank have declared an
extra quarterly dividend of 40
cents a share in addition to a
regular dividend of IS cents a
share, President E. Guy Ridge
ly announced yesterday.
The total of rs cents a share
for the quarter raised dividend
payments for 1868 to $1.80 a
share.
The latest payments were
made Friday to holders of rec
ord at the close December 26.
Evening star., 1963-12-29
BUSINESS BRIEFS

Baltimore, denied recent reports
that it is engaged in merger
negotiations. Jones.
Avnet EIectrOnics Corp. direc-
tors recommended the name of
the company be changed to
Avnet Industries Corp. Share
holders will vote at a date to be
determined.-Dow Jones.
The Glacier reporter., 1963-11-14
Bubb News

Mr.. and Mrs. Paul Winston and
daughter of Hayward, Calf
were guests of Mr.. and Mrs. Les.
ter Johnson. Mrs. Winston is Les.
ter's sister.
Gail and Gen Noffsinger and
son. Jay, drove to Great Falls on
business last week.
A Bingo game will be held
At the Babb school on the eve.
ming of Nov. % sponsored by
the Babb school faculty. Prizes
will be turkeys and hams. All
proceeds will be used for the
Christmas fund for the school
children's Christmas.
Congratulations to Mr.. and
Mrs. Bob Burns on the birth of
a son.
Last week, Mrs. Bob Holden
of Pawnee, Okla, was a guest
at Joe Dubray's.
Sarah Fisher and son Tony
were home for the weekend, last
week, returning to Havre Sun
day. Daughter Becky went to
Shelby Sunday to visit her grand
mother, Mrs. J. Fisher.
Gailen Peterson and baby are
visiting relatives and friends at
Seattle.
The Glacier reporter., 1963-11-14
Starr School News

The school basketball team
went to Heart Butte where they
lost a non-conference game. The
boys didn't feel too bad as they
had age and height against them.
Our local Doctors Barker, La
nier, Sack, Sabbag. Green and
lVers have formed a basketball
team and were out here to prac-
tice.
Mike and Kathy Connolly were
on the sick list. They are feeling
much better now.
Wanda and Charlie Connolly
were out horseback riding and
visiting neighbors.
Jerry Matt left to 60 and help
Delbert Wilson. Jerry is an all
around hand-you can depend
on him to do anything you want
done.
Juggie Whitegrass was out rab-
bit hunting over the weekend
but the rabbits are either scarce
or hiding from him.
Mr.. Bob Durham was out visit
ing and asked the Northern Star
All Club leader to have a meet
ing on the 18th of this month
The meeting will be in the school
dining room.
On Thanksgiving night a dance
is scheduled to take place in the
round hall here. This dance usu-
ally draws a large crowd
Kenny and 81 Vaile and Robert
Racine from the Public Health
Service are working hard in this
cold weather to finish the water
system for the local residents.
They have completed the water
pump house now.
Phillip and Paul Many Hides
have returned home with their
families after visiting in the state
of Washington.
Richard Guardipee and family
have returned from Kalispell
where he was working.
Mary Ground was at the Jim
Whitegrass home visiting.
Mr.. and Mrs. George Old Per
son motored to Standoff Alta,
Canada to bring Mrs. Eagle Ribs
home where she had been visit
ing.
Red Harper and Ed Connolly,
tribal field men, have been out
our way counting cattle.