davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12
FOURTH NEW INSTITUTION
Georgetown Bank Applies for Charter

corporation, and is head of
several real estate investment
companies.
Other principals listed In
the application are:
Charles L. Norris, president
and general counsel of the
Home Building Assn. and presi-
dent Of Woodward g. Norris;
John F. Donahue, vice presi-
dent Of Hohenstein Brothers
and Donahue, realtors; Shum-
way ]. Bird, partner In Shum-
way ]. Bird Co., certified pub
lie accountants; T. Halter
Cunningham, president Of Lam
ham Engraving Co. and Lam
ham Lithoplate Co. and Earl
Wayne Tyler, jr.. executive vice
president and treasurer Of
Lanman Engraving Co.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12

local autonomy in banking IA
cilities."
He asserted that these
require complete and indie
pendent banking facilities
based upon an intimate knowl-
edge Of the community which
cannot be provided adequately
by the services now offered by
the branches Of large down.
town establishments"
Principles in Application
Mr.. Wheeler is vice presi-
dent, general counsel and q
director Of North Central Air
lines, Inc; board chairman and
director Of Washington Balti-
more Helicopter Anyways, Inc,
q director Of Consumers In
vestment Fund and Eastern
Illinois Water Co. He also is
treasurer and a director Of
Frontiers Capital Corp, a
small business investment
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12

signals are housing starts and
awards for commercial and in
dustrial building. It's logical to
expect that when contracts
awarded for commercial and In
dustrial building are rising
and so are housing starts,
spending on construction will
be on the rise too.
Another key indicator which
has turned from indifferent"
to good" since January is net
corporate profits. IT, logical to
expect that when then profits
rise, businessmen will be en-
couraged to invest more. T. fay
orable decision on business
spending today will show UP In
rising spending by business
months from today.
Last November in q speech
on the indicators which he has
done so much to develop, Geof-
frey H. Moore Of the NBER
concluded that recession.
around the-corner views are not
clearly justified but also the
statistical portents Of q vigor-
Gus resumption Of the business
expansion have not yet ap-
peared. ! await their appear
ance with hope and confidence"
Were Mr.. Moore rewriting that
speech this day, he'd not
change q word Of his conclusion.
Distributed 1858 by The Hail syn
dieats, Inc. All Rishts Reserved.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12
GE EMPLOYEES
GET $40 MILLION
STOCK AND BONDS

General Electric Co. an
nounced yesterday the dis
tribution to Its employees Of
nearly $ll0 million in GE
stock and United States
Savings Bonds - largest
payout in the history Of
industry savings plans.
The company is mailing
out 100000 shares Of GE
common stock, plus Savings
Bonds with q maturity
value Of $73 million. They
are going to 10000 en-
ployes around the world.
The distribution covers
two savings plans. Under
the latest, the company
added 81 for every 50 in
vested by eligible employees
in stocks and bonds. Treas
ury Secretary Dillon recent
ly commended the company
for devising an "outstand-
ing" savings incentive plan.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12
Laundry Equipment
To Be Displayed

New laundry and dry-clean-
ing equipment will be displayed
by the American Laundry Ma
chinery Industries, q division Of
McGraw-Edison Co., at the
r-Hilton Hotel on
Wednesday, March az.
The new equipment viii fea-
ture new designs and concepts
for clothing care centers In the
company's Enoo program.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12
NEW SOURCE ssednz
US Probes Role Of Racketeers as Bankruptcies Rise

frigerators, carpets, furniture,
furs. jewelry. television sets.
and other appliances that are
easily disposed of.
Other bankruptcy cases in
volve retailers and small man.
ufacturing concerns that have
fallen on lean days and frau
dulently attempt to conceal as
sets from their creditors.
One such pending case in
wolves the owner Of five shoe
stores on the outskirts Of q
large Eastern city. When he
needed cash and his creditors
were pressing, he decided to
have q fire in one Of his stores.
Before the fire. he removed all
the expensive shoes and
brought in all the mismated
and worthless shoes from his
stores.
Payment Refused
The insurance companies
suspected arson and refused to
pay. He couldn't dispose Of
the $4,000 worth Of shoes he
had taken from the store, be-
cause he claimed they had
burned In the fire. So he stored
them and sat back to wait for
his creditors to put him through
bankruptcy-with q hidden nest
egg Of $4,000 worth Of shoes.
In another case, q furrier in
need Of cash to pay his bills
started buying q lot Of furs on
credit on the theory that II
he sold them at low cost. he
could not only get the cash
to pay off his creditors. but
could show enough sales vol
ume to allay pressure from
them.
He hired o salesman Of the
II can get 1t for you whole
sale" variety and told him to
get rid Of the furs as best he
could with IS per cent to the
salesman and rs per cent to
the furrier. Still failing to get
enough cash, he filed q bank
ruptcy petition.
When creditors complained
that he had concealed assets,
the FBI began investigating
and found q cash shortage Of
more than $4,000.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12

are being used as q basis OF
prosecution under mail fraud
laws.)
The enterprise then requests
catalogues and price lists from
wholesalers throughout the
country. It begins to order,
usually starting on a modest
basis and making small part
payments to make 1t easier to
get future credits on larger or
ders.
The operators Of the enter
prise use assumed names and
conceal their true identity and
past business-or criminal-rec-
ords.
Final Furry Of Orders
These businesses often rent
warehouse space in addition to
store space to make their OPP
look bigger and to add
to the appearance Of legiti.
macy. In most cases, o secret
warehouse is also obtained
where the goods can be con-
cealed before the fold-up date.
The business steps up its or
ders. Shortly before the fold
up date, 1t puts in its biggest
orders.
The operators sell to friends
for whatever cash they can
get. or they hijack the mer-
chandise and get 1t out of the
State.
Thus, the friends get bar
gains, the hoodlums get cash
and the creditors get nothing
Statements Of account and
other requests for payment are
ignored and, when the credi-
tors force the firm into bank
-ruptcy, the merchandise Is
gone and the cupboard is bare.
The whole operation, from
the opening for business to the
fold-up usually takes about
three months.
The types Of merchandise
figuring most frequently in the
planned bankruptcies are re-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12

The fourth in q recent parade
Of charter applications for new
Washington banks has been
filed with the Controller Of the
Currency. This bank will be in
Georgetown.
A. L. Wheeler, an attorney
and executive of several Wash
ington companies, is head Of
the organizing group. He said
the proposed bank also would
serve the Foggy Bottom, Ross
Ign and Palisades areas around
Georgetown.
Georgetown National Bank is
the proposed name Of the in
stitution. It would be located
at the southwest corner Of
Wisconsin avenue and o street
NV.
The new institution would
have initial capital funds Of
100000. consisting Of $4,000
shares at $40 each, surplus Of
100000 and undivided profits
Of $4,000.
None for 3 Decades
Up until last year. the Dis
trict had had no new banks in
almost three decades. Then
charter applications were ap-
proved for the District of CO.
lumbia National Bank at 1912
K street NV. and for the
Public National Bank In the
area Of Vermont avenue and X
street NV.
Filing Of a third application
was announced March for the
proposed jefferson National
Bank Of Washington, to be
located at Connecticut avenue
and M street NV.
Mr.. Wheeler said George
town not only has become q
desirable residential neighbour
hood. but in recent years has
become the center Of indus
trial. financial and insurance
institutions which required
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12

totalIed 1916 in fiscal 1915
compared with the record total
Of 147,780 filed during fiscal
1862. The figure is expected
to level off at about 10000 for
the 1868 fiscal year.
The increase in bankruptcies
has prompted the judicial
Conference Of the United States
to pay close attention to these
cases as they go through the
courts. II bankruptcy referees
suspect any violation or II
creditors complain that a large
inventory disappeared in q
short period before the bank.
ruptcy, the United States At
torney is notified and the FBl
starts investigating.
How the Plan Works
Planned bankruptcies-where
criminal elements sometimes
show up as the managers" Of
the enterprises-are currently
under investigation in Detroit,
the New York area, Chicago
and Miami.
The evolving pattern Of
these frauds indicates that
loan sharks dominated by GRIM
inal syndicates are MASTER
minding some Of the opera
tions.
In a typical planned bank
ruptcy scheme, the criminal
syndicate advances q SUBJ
stantial sum to a front man"
for deposit in the bank ac-
count Of the enterprise to show
that it is bona fide and war;
rents the extension Of credit.
This sum Is to be drawn on a.
little as possible. but it Is to be
returned to the syndicate Just
before the agreed-on "fold-up"
date.
The business supplies mis-
leading information to credit
agencies and suppliers. (Since
these false statements usual
ly 60 through the mail, they
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12

Where Is the economy In
midtMarch 1852 This is the
25th month Of the recovery
from the last recession?
the economy Is just about
where 1t was q month ago and
two months ago-specifically
trudging along on q high level.
IN the face Of President Ken
nedy's recent warning about
this situation and Of spreading
talk that business already may
be In q downturn, the evidence
Is that there is no recession
now.
But we are not in o strong
forward movement either.
We could move from the
present level TO another upturn
or another downturn. Because
the signals in March are al
most as mixed and inconclusive
as they were in January, both
possibilities must be admitted.
Upward Trend Predicted
The odds. though. are bet
ter that well move UP rather
than down as the year pro-
crosses.
This can be stated despite
the fact that the recovery Is
into its 25th month. which was
the duration Of the advance Of
l95a-6O: despite the widespread
belief that a leveling off at this
stage In the business cycle fore
casts q coming decline: despite
the probability that q stimulate
ing tax cut won't be voted for
many months and It may not
be as big as Mr.. Kennedy has
urged.
Two months ago I reported
on the 20 business cycle In
dioators" selected by the Ma
tional Bureau Of Economic Re-
search as the most valuable In
showing where the economy Is
heading. The words ] used then
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12
Suburban Trust
Declares Extra

Directors Of Suburban Trust
Co. have declared an extra
cash dividend of cents a
share, 1t was announced by ].
Robert Sherwood, president
The extra represents an in
crease Of 20 per cent over the
regular quarterly dividend Of
Is cents. which also was de-
clared.
Both dividends will be paid
March 20 to stockholders Of
record March is.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12
D. c. Insurance Sales
Log Behind Year AGO

Sales Of ordinary life insur-
ance in the District Of Column
bia totaled $l7,158.000 in jan
uary, a decline Of 4 per cent
from the initial 1862 month,
the Life Insurance Agency
Management Association re-
ported.
Sales In IL months ended
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12
BY MIRIAM GUTENBERG
star staff writer

an automobile dealer. over his
head in gambling debts, found
an easy way out through q
type Of business fraud that Is
getting increasing attention
from Acknowledgement agen-
cies.
His counseling in crime came
from q gangland syndicate.
All he had to do was order
a lot full Of cars on credit and
turn them over to the syndi-
cate IN payment Of his gam
bling debts. Then he could go
into bankruptcy when the auto
manufacturer presented Its
bill.
The dealer is now under In
vestigation for bankruptcy
fraud.
The syndicate, though, had
the pattern down pat because
Of q growing interest by GRIM
inal elements in bankruptcies
as lucrative new source Of
illegal profits.
Justice Studies Gases
A steadily increasing number
Of bankruptcy cases across the
Nation and the shadowy pres
ence Of organized-crime figures
in many Of them has prompted
the Justice Department to
focus attention on the whole
area Of bankruptcy fraud.
Civil dockets Of bankruptcy
cases are being studied to trace
any individuals known to the
departments organized crime
section.
At the same time, the de-
partment's fraud section Is
closely following FBI investiga-
tions Of complaints forwarded
by United States attorneys
from referees or trustees in
bankruptcies.
The Postal Inspection Serv-
ice. noting an increase in ques-
tionable bankruptcies in re-
cent months. is also inves-
tigating the situation because
some Of the planned bank
ruptcies" involve mail fraud.
The frauds now under inves-
tigation fall into two categories.
There are the planned bank
ruptcies arranged by hoodlum
elements. The lergest percent
age increase In bankruptcy
fraud has been noted in this
area.
Then there are the frauds
devised by supposedly respect
able businessmen whose COM
oanies are failing and who
seek to salvage some funds by
illegally concealing some Of
thar assets.
At AII-Time High
Both types Of cases are in
creasing at q time when total
U. IS. business bankruptcies
have reached an all-time high.
From q postwar low Of 1880, in
fiscal 1916, the number of
such failures leaped to 1855
in fiscal 1852.
Over-extended credit h as
been blamed both for the rise
in business failures and in
personal bankruptcies, which
have also reached a new high.
The Administrative Office Of
the United States Courts, which
tabulates bankruptcy filings.
reported that all bankruptcies
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12

January 81 averaged $lo.s67,-
900 per month, about even with
q year earlier.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12


orr va
sSs~I %Ss
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12

Raoads currently involved In proposals include: Penn
van New York Central Southern Pacific Union Pacific Chesapeake
Ohio Baltimore Ohio, Boston Name Southern Seaboard Air
Ln Ahison Topeka Santa Fe Northern Pacific Nickel Plate,
Burnston Atlantic Coast Line Norfolk Western, Great Northern,
Chicago North Western illinois Central Rock Island and dozens Of
other roadA
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12
YOUR MONEYS WORTH
Odds on Upturn
For Economy?
BY SYLVIA PORTER

were good" bad" 'indiffer-
ent," "fair to middlin'." Here is
an updating of that report.
There are IL leading indicat-
ors which had had q remarkable
record Of telling in advance Of
an upturn or downturn. OF the
IL today, five give a good"
signal, four an indifferent"
signal, two 'fair to middlin'."
one is bad" This is q tiny bit
better that the IL indicated in
January.
There are nine coincident In
dicators which have had q re-
markable record Of telling us
where our economy Is currently.
OF these nine today, four re-
fleet q good" picture, three,
an indifferent" picture and two
q fair to middlin'" picture.
This is precisely what these in
dicators said In January.
There are five tagging indi-
Gators which usually turn up
or down after the economy has
turned up or down. OF these
five, three are acting In q
flair TO middlin'" way, one Is
good" one is indifferent
also precisely the pattern in
January.
On the surface, this Is q de-
family mixed pattern but when
you dig beneath the surface.
it's more good than bad, for
some Of the most significant
leading indicators" offer
good" signals.
Durable Goods DO Wen
For instance. one signal
which is good Is new orders
for durable goods. It's logical
to expect that when new orders
for durable goods are up, O rise
in manufacturing of the dur
able goods win follow. Two
other indicators giving good
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-12
Why, then. should an avalanche O
monopoIistic railroad mergers be
permitted to threaten the nation.
economic health?

7s of the nations railroad mileage involved in
merger proposals These mergers would result in reductions
In railroad service hundreds of communities, scrapping
of rolling stock stations yards and shops huge losses in
and the annihlaon of thousands of Jobs within
the railroad industry and outside il, too.
These proposed mergers threaten the military security of
country Railroads indispensable the mobility of
the nations armed forces and their supply lines Men and
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-28
BY BETTY BEALE
star staff Writer

For years You have been
reading about the gaiety In
the Nations Capital and how
the cocktail party outranks
either the Democratic or Re-
publican Party. It isn't sur
prlsing, therefore, II you en-
vision scenes of constant rev.
elry wherein Government
leaders drown themselves and
-erp-the Nations problems
In a sea Of martins.
To set the record straight,
this y-trotter has decided
at last to present a typical,
gay cocktail party as 1t would
be described II the whole
truth were told. The COM
ments in parentheses express
the unspoken thoughts Of the
characters taken straight
from life.
Scene: Embassy OF medium
sized foreign country.
Occasion: Annual 9 to 8 re-
ception celebrating the an
niversary Of independence.
Hosts have Just taken their
places In line and are ready
for the onslaught OF 500
guests.
Host Ambassador: I trust. my
dear, that you invited
about 900 extra people we
can count on. l hear the
French are having a party
today, too, and you know
what that could mean. (The
more the gall Of De Gaulle
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-28
PACKING PROBLEM
Stephonie de Sibour Gets
Some Pre-SchooI Practice
BY 10 ANNE MARK
Stor Special Writer

is left on the bed after step two is
completed.
The final step is to pack what little
remains on the bed after the difficult
sorting. Now Just pack--no tears
allowed
The melancholy you will experience
while packing only fraction Of your
familiar and beloved possessions is Moth
ing to the misery you would encounter
if you took everything along to "the
halls Of ivy"
Dormitory rooms have VIGOROUSLY
small closets. And, one good way to
launch roommate-relations on the right
foot is to divide the meager space on
an equal basis.
Another word of disagreeable advice
is: Don't buy everything new and don't
buy all Of your wardrobe additions be-
fore you get to campus"
You will find that college fadS and
fashions vary from campus to campus
and year to year. What you find here
in Washington might not be "just what
they're wearing" in Northampton, Mass,
or PoughkeepSie, N. Y.
You will find many shops, in college
towns, whose merchandise is especially
tailored to the needs, wants and pocket
books Of the students.
However, it is wise to start off with
good basic wardrobe. Several nnix-and-
match outfits are more serviceable than
the same number Of non-interchange-
ables.
One absolute necessity is good little
black" dress. 1t will take you everywhere
from the presidents tea for freshmen to
the cocktail party before your senior
prom.
Start off with big smile, your best
foot forward in a comfortable walking
shoe and your head held high and
topped off with a casual, easy-to-care-
for hairdo.
It's new, so it's bound to be exciting.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-28
PACKING PROBLEM

It's Just short trip, but even that
can present packing dilemma.
Miss Stephanie de Sibour, daughter
Of Mrs. Prochnik de Sibour Of Hoban
road, started packing last week for a
trip to New England, and discovered
that it provided perfect opportunity
for "dry run" for her upcoming campus
packing.
IA Stephanie, who made her debut last
month, will begin her freshman year at
Bradford Junior College in the fall.
Her trip will take in both a seashore
vacation and the debut party of her
friend, Miss Janet AuchincloSs, daugh-
ter Of Mr.. and Mrs Hugh D. Auchincloss
Of Washington.
Miss Auchincloss, the First Lady'S
half-sister, will be presented to society at
her parents summer home, Hammer
smith Farm in Newport, on August IT.
College days are anxiously anticipated
by Stephanie and her counterparts. For
these campus fledglingS the idea Of col
lege means leaving home, making new
friends, saying good-by to old ones, and
it also means renovated, If not entirely
new, wardrobe.
Packing alone can be frightening
experience for the new student. what
shall I take? What will need? Will
the clothes I have be right or should I
buy new ones?"
Her questions continue. :. "Win
want my tennis racquet and what about
a hairdryer, bicycle?"
The most valuable bit Of advice to
these young women is to "travel light"
A good method to follow in carrying
out this advice is to put everything you
wish to take along to college out on your
. bed, If your bed will hold it all.
Now, for step two Of "the method"
return everything you can possibly exist
without to its storing place.
Step three, "the unkindeSt cut Of al"
either discard or store one-half Of what
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-28
Real Washington Cocktail Porty-f the Truth Were Ever Told

is som cone who wears
trousersD
Washington bachelor: Thank
you, I'd like nothing bet
ter If I'm free, but I -
er - may be involved. Let
me call you. That will
give me time to put out
some feelers to see II I can
get a better dinner. After
all, she's not the only one
who would gladly cough UP
an extra 500 for a ball
ticket Just to get me-
Climber TO news columnist:
What a wonderful story
you had in yesterdays
paper. / Just wouldn't
miss reading you every day.
II wonder what 1t was he
wrote about? II he pins me
down I'll move on. I never
have time to read the paper
but In Washington It's chic
TO sound intellectual
News columnist: Thank you
so much. what do you
suppose this idiot woman
wants now? I've been on
vacation for two weeks)
Columnist to Cabinet mem
Der: Oh, l am glad TO see
you. Bob. l guess the Pres
ident's plan to cancel his
Asian trip has thrown you
into a snafu. III he bites
on that one I'll know II
it's trueD
Cabinet member: Oh, has he
Cancelled his trip You fell
Continued on Page Clio
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-28
EXCLUSIVELY YOURS

doth pail, the more they
get them all. Heb, heb,
that's pretty good0
Hostess: Don't worry. They'll
call this the sardine soiree
Of the season. They'll be
Tipping fins instead of
rubbing elbows. Thank
heaven the Scotch that
goes down their Threats
costs us only $1.86 q bottle
instead Of what Americans
have to pay for 1t. (Espe-
cially the throat Of that
gushing widow George in
sists we invite. The look on
his face while he laps up
her flattery Is positively
nauseatlng)
Gushing widow arrives:
Oh, how are you dear. I
was Just telling George
we couldn't have q party
without you. Il couldn't
be that lucky, I mean.)
Widow, archly: I came early
so I could stay q LONG
time, my dear. Gle de-
serves q break. Look how
she's let herself go. Moth
ing but spread and I don't
mean the sandwich type)
Arriving Guest Ambassador
TO his wife: Let's get
through this. / hope you
know Of a way out that
doesn't 90 by the line. And
rescue me II you see me
cornered. Every self-styled
wit In town can't wait TO
laugh with me about our
government crisis that may