davidaulloa/AmericanStories huggingface dataset:
Evening star., 1963-05-15
Is Million Home Units
Held Needed in '6Os

provide a market for about $12s
billion of construction materials
and would add from 5000 bill
lion to $3.50 billion to the ma
tional wealth.
I'VE hope to broaden the
m arket and provide better
housing for minority families,
he said. I'VE shall see more
housing for our senior citizens.
He said housing starts thi:
year are expected to total about
1 ,430, 900 private non farm
units, approximately the same
as last year.
The Spring Builders Eco
nomic Survey, just concluded by
the National Association OF
Home Builders, showed a plen-
tiful supply of mortgage money
Mr.. Buchanan said. The mort
gage money supply us very
much in line with the general
money supply" he added, with
institutions doing some head
scratching about where to put
it,"
Naturally, to us this is a
good sign," Mr.. Buchanan said,
but it could have some serious
consequences in making mar
ginal loans and in construction
of rentals as a result of lend
ers trying to get idle money in
vested"
Evening star., 1963-05-15
By SAM DAWSON

Associated Press Business News Write
NEW YORK (AP).-with al,
the good economic news and al
the new bulwarks and interna-
tional banking accords, Uncle
Sam can still lose more Of his
Igold.
He just has. $50 million
more.
The loss isn't catastrophe
He still has $l5.8 billion. The
drain this year also is reassur-
Iingly small-some $3.50 million
compared with $425 million q
year ago.
But it is this increased deficit
In international payments that
gives the actual loss in gold
more significance than the size
of the drop in the metal re-
serves. The deficit still eludes
most Of the efforts so far tc
halt 1t.
It arises from the outflow OF
Government and private dollar;
exceeding the return. Last year
some $2.2 billion more went out
than came back. In the first
quarter Of this year the annual
rate Of the deficit rose to $2.S
billion. And part of this was
because United States export,
Evening star., 1963-05-15
Estute Planners
Elect {. A. Dent

Edward A. Dent, jr., trust
officer of American Security
& Trust Co., was elected presi-
dent of the D. c. Estate Plan
ming Council at the annual
meeting at Woodmont Country
Club last night.
Formerly vice president of
the council, Mr.. Dent succeeded
Edward j. Schmuck, vice presi-
dent and general counsel OF
Acacia Mutual Life Insurance
Co.
Morris B. Hariton, CPA, OF
NJ. B. Hariton g. Co., was
elected vice president and Vim
cent c. Burke, jr., trust officer
of Riggs National Bank, became
treasurer. John E. Powell,
member Of the legal firm Of
Drury, Lynham & Powell, was
elected secretary.
Mr.. Dent started his banking
career with the old National
Metropolitan Bank in 1910, be-
came assistant trust officer in
l943 and trust officer in 1855.
When Metropolitan was ac-
quired by American Security in
1858. he became a trust officer
of the latter. He has a law de-
gree from Columbia University
and is assistant treasurer Of
the Washington Hospital Gen.
ter.
Evening star., 1963-05-15
Allegheny AirIines
Expects Good Profit

Allegheny Airlines expects 6
this years net income to equal
record 1862 profits of $3.50, ,999
despite a first-quarter loss Of
$203, ,957. President Leslie o
Barnes said yesterday in his
quarterly report to stockholders
The first quarter loss was due
to unusually severe weather
and a decline of almost $57, ,00C
in Federal payments. compared
with a year ago, Mr.. Barnes
declared. Allie heny had q
$ll0,919 loss in the first 1862
quarter.
An April passenger increase
and a further cut in unit costs
are among the factors that in
dicate the first quarter loss
will be more than offset by
gains for the remainder Of the
year, Mr.. Barnes declared.
Evening star., 1963-05-15
Je|leH Promotes Three
Broudens Management
For Expansion Program

lenue NV, at Shirlington and
Falls Church, Va. The newest
store at Falls Church was
opened in october. 1856.
Mr.. Dick, the new executive
vice president, has been with
the organization 81 years. He
came from Ohio and started
as display director. lie became
vice president in 1857.
He has been active In the
Washington Board Of Trade
and the Greater National Capt.
tai Committee. He is chairman
Of the committees 1868 Sum-
mer Jubilee Program. He also
is a director of Washington
Chapter, American Red Cross,
and is active in the Rotary
Club.
Miss Ohlsson came to Jel-
leff's from New York City 20
years ago as advertising di-
rector. She has been active in
the Washington Advertising
Club.
Mr.. Gonsa came to the COM
pany from Binghamton, N. Y,
as secretary and controller in
1857. He has been active in the
National Capital Group Of Con-
trollers and Is q past chairman
of the group.
Evening star., 1963-05-15
BY DON BACON
Star Staff Writer

Sixteen million new dwelling
units, requiring $3.50 billion OF
new investment capital, will be
needed during the decade of the
1960s, the president of the Ma
tional Association of HON
Builders said here yesterday.
w. Evans Buchanan, a lead
ing Washington area builder
and head of the national asso-
citation, told a gathering OF
money lenders that some 10
million new households will be
added in the United States dur
ing this decade.
The new households, togeth-
er with replacement Of sub
standard and deteriorating
households, would bring the
total requirements to around
Is million units, he forecast.
Funds to finance these houses
and apartments, he said, would
increase the total mortgage
debt to more than $500 billion.
roughly equivalent to the cur
rent national debt.
Mr.. Buchanan, who addressed
delegates to the 43d annual
conference of the National As
sociation of Mutual Savings
Banks, said the national hous-
ing needs in the 1960s would
Evening star., 1963-05-15
Drain on U. S. Gold Declines
But Holds to Significant Level

trailed the 1862 figure by / pei
cent, while imports we're in
creasing.
This is one of the problems
Americans delegates will take
with them tomorrow to the pre-
liminary skirmish in Geneva
Of 40 nations seeking to re-
adjust tariffs and other bar
riers to greater world trade.
The United States deficit oi
monetary payments doesn't
arise from an excess Of i'm
ports over exports. On the con,
trary. the balance of trade it.
self is in this Nations favor
The deficit comes from this be-
ing wiped out and topped BY
other United States spending
abroad - for military bases
economic and military aid, pri-
vate investment and tourism.
In 1861 the United States ex-
ports topped imports by IS 4
billion, and in 1862 by $4.4 bill
lion.
But in all of the last 10 years
save one, the United States
ran a deficit in its total pay
ments. The largest was $3.s
billion in 1860. Efforts to whit
tie down some of the overseas
payments-and to increase ex-
Evening star., 1963-05-15
PRRHead Sees
RaiIComeback

BALTIMORE (AP). - The
president of the Pennsylvania
Railroad, Allen j. Greenough,
declared today that the now
ailing railroad industry is on
the threshold of an economic
resurgence.
But the industIy's improved
health, Mr.. Greenough said,
will depend on its ability to
overcome several barriers.
When our passenger prob
lens have been resolved, when
we become truly modern not
only in our technology, but
also in the work rules that are
so important TO our competi-
tive position-and when basic
mergers are accomplished, the
benefits will flow through to
all concerned" he said in a
speech prepared for delivery
before some 300 industrialists
and businessmen here for the
135th anniversary Of the Can
ton Railroads founding.
He said one of the toughest
problems is the passenger def
icit, which was $500 million
last year. He blamed Govern
ment regulations and taxes
and Government financing of
highways and airports.
"It seems to me that the
way to reduce these deficits is
very simple-just let the rail-
roads operate passenger serv-
ice with ordinary business free
DOM" Mr.. Greenough declared.
"Other industries are not
forced to continue noney-los-
ing products and services, so
why should the railroads be?"
AS an example OF Wnat ne
called tax discrimination. he
cited Union Station in Wash
ington, owned by the Pennsy
and the Baltimore & Ohio Rail-
road.
That station was built with
$32 million Of our money and
carries the highest tax assess
ment Of any single piece Of
property in the District Of Co
lumbia, with an annual tax bill
Of almost $500, ,000," he said.
ION the other hand. Wash
ington National Airport, also
built at a cost Of $32 million
but of taxpayers money-pays
no properly taxes-and heap
ing furthE insult on injury,
another 500 million Of public
funds has already been spent
. for the new Dulles Air
port, :"
Evening star., 1963-05-15

Three major executive pro-
motions were announced at
Frank r. Jelleff, Inc, yester-
day in what was described as
a move to broaden store man.
agement for a new expansion
program.
Mrs. Margaret Gollan Jelleff,
who was reelected president
and treasurer Of the company,
announced the promotion of
Willard r. Dick to executive
vice president from vice presi-
dent.
Miss Ruth I. Ohlsson was
advanced to vice president from
ssales promotion and advertis-
ing director.
John Gonsa was elected vice
president and will continue as
secretary.
The promotions were an
nounced after the annual
stockholders meeting at which
Mrs. Jelleff reported steady
progress Of the last year. No
details Of the expansion pro-
gram were divulged.
In addition to the downtown
store at l216-20 F street NV,
the company has suburban
stores in Silver Spring, Be-
thesda, at 4473 Connecticut av-
Evening star., 1963-05-15
In Officer Line
Of Alb Chapter

Edward C. Duncan. jr., as,
sistant cashier of Old Domin.
ion Bank in Arlington anC
manager Of its Lee-Harrisor
Branch, was elected Chief Con,
sui Of the Washington Chap.
ter, American Institute o.
Banking, last night.
Mr.. Duncan became the frs
Northern Virginia banker to bt
named to this post in the chap.
ter's 62-year history. The Of
flee traditionally leads to thu
chapter presidency, three year
hence.
Charles C. Allies, jr., Of Amer.
ican Security and Trust Co
was unopposed for the presi.
dency, as were the other Of.
ficers.
Mr.. Duncan has been with
Old Dominion Bank since 1857
is a graduate of George Wash
ington University and q native
Of Northern Virginia.
Elected chapter trustees for
two-year terms we're: Ralph @
Blasey, jr., Bank of Commerce
Charles E. Anderson, Arlington
Trust: Freida w. Reynolds
American Security Corp: VIII
liam s. Nesbitt, First National
Of Washington. Elected for one.
year terms were George w
Holler, National Bank Of Wash
ington, and David o. Vollen-
reider, Vienna Trust Co.
Evening star., 1963-05-15
43 States GET
AID0rders

More than $89.7 million was
spent in the first four months
of 1868 for domestic goods to
be shipped overseas under the
foreign aid program, the Agency
for international Development
said today.
The orders were spread over
43 States, with 10 receiving
orders totaling 81 million or
more. Maryland during the
period had SIS million in AID
orders and Virginia $4,000.
The orders represent pur-
chases Of essential goods by
firms or government agencies
in countries receiving United
States economic assistance.
Financed under AID-adminis-
tered development loans and
grants, the transactions take
place generally in normal COM
mercial channels, elCner dlrecLly
with local producers or through
exporters.
More than two-thirds Of
foreign-aid procurement dol
lars are spent with domestic
suppliers in accordance with
purchase source restrictions In
loan and grant agreements,
AID said.
A., So far this year. IL States
haev received more than 81
million in AID purchases. They
are New York. Pennsylvania,
Texas, Illinois. Ohio. Michigan,
California, New Jersey, Florida.
Louisiana, Alabama and In
diana.
Evening star., 1963-05-15

ports-have reduced the deficit
each year since then.
The loss of gold comes about
because as foreigners build up
these surplus American dollars,
they turn them into their CEN
tral banks. They have the right
to use the dollars to buy gold
from the United States Treas
ury at the fixed price of $35
an ounce, plus 894 cents ham
ding charge.
This is the chief reason the
United States gold stocks have
fallen from more than $23 bill
lion in 1852 to less than SIG
billion.
The United States and other
leading industrial nations have
an accord whereby the central
banks protect against any spec
ulative run on each others
currencies or gold reserves.
So this year, despite the
large surplus Of American
dollars other nations hold, the
gold loss has been held to $50
million in each Of three weeks
ending Wednesday January
Is, February 27 and May 8.
But the loss can continue as
long as the deficit of payments
piles up dollars abroad.
Evening star., 1963-05-15
Military Bross Fits Civilian Desks

and a corporation be run the
same way?
"Of course I say they can
but my superiors don't agree"
Gen. McAuliffe said. I'm both
areas you deal with people"
But, he added, you can't give
orders in business with the
same finality as you can in the
service.
Gen. Macarthur still presides
at board meetings of the Sperry
Rand Corp, Gen. Bradley is
chairman Of the Bulova Watch
Co., Gen. Gavin heads the Ar
thur D. Little research firm,
Gen. j. Lawton Collins is an
executive of the drug firm.
Pfizer & Co., and Admirals
Nimitz and Arleigh A. Burke
are corporate directors.
THE military, to be success
full. must be decentralized with
strong controls" said Gen.
Clay. This is the usual pat
tern big business seeks and
does, in fact, establish. Organi-
nationally they are very much
related"
1t is for this reason, Gen.
Clay believes, that former
high-ranking officers fit into
big business more easily than
into small business.
Evening star., 1963-05-15
Two Large Buildings Sold Here

Two large real estate trans
actions in Washington and Be-
thesda were announced today
The Washington Real Estate
Investment Trust purchased
the nine-story Washington Cir
Gle Apartments at 2430 Penn
sylvania avenue NV, and the
First National Realty Corp.
bought the five-story Waverly
Building in downtown Bethesda
in what was said to be q mil
ion-dollar deal.
Located in Foggy Bottom, the
Washington Circle Apartments
fronts on Pennsylvania avenue,
K street and Twenty-fifth
Evening star., 1963-05-15

NEW YORK (AP). - Gen
Lauris Norstad, former military
commander of the North At
lantic Treaty Organization
apologized for a few papers on
his desk.
i've only been on the job
a short WHILE" he said, sc
you see it's pretty cluttered."
The desk may have seemed
disordered to a precise mill
tary man. 1t would, however
pass inspection from any busi-
nessman. And Gen. Norstad is
a businessman now.
His office is on the 14th
floor of a Fifth avenue sky
scraper, where he presides as
president of Ownes- Corning FL
berglas International, a busi-
ness far removed from military
affairs.
II suspect" said Gen. Nor
stad as he talked his new way
of life, that people successful
in one area of life have worked
out a system of doing things
that is transferable to other
areas"
The 56-year-old combat and
diplomatic veteran is a recent
big-name military man to step
unframed in corporate life, into
a top industrial position.
Before him marched Douglas
Macarthur, Chester w. Nimitz
Anthony c. McAuliffe, Luciu:
d. Clay, Omar N. Bradley
James M. Gavin and othel
generals and admirals.
Just as If it were another
Evening star., 1963-05-15

street NV. OF reinforced con-
crete, the structure contains
262 apartment units plus pro-
fessional offices. garages and
ground-level stores. 1t was COM
pleted in 1851 by DR.. Daniel
Gevinson, the seller.
B. Franklin Kahn, president
Of the investment trust, said
the lobby and halls will be re-
modelled and redecorated un-
der plans drawn by J. Richards
Andrews. architect. A new
mortgage has been placed by
the American Security & Trust
Co. in cooperation with Weav-
er Bros, Inc.
Mr.. Kahn said that the
Evening star., 1963-05-15

lmethodical step upward ir
their military careers, many oi
yesterdays military and nava,
leaders have become today'S
captains Of industry.
Obviously. despite their lack
of experience In the world oi
profits and losses, military mer
are considered good, business
men. Why?
MY work." said Gen. Nor
stad, was not technically mill
tary. In the service you control
tremendous capital investments
and you have to come up with
your budget. You have a struc-
ture similar to what you have
here"
Gen. Clay, director Of the
Berlin air lift, former presi-
dent and chairman Of Cont
mental Can Co. and now senior
partner in the investment firm
of Lehman Corp, explained II
this way:
THE advantage of a military
education is that you must dc
what you are assigned. This
means that you tackle many
projects for which you are moi
equipped but in which you
must do a good job"
And Gen. McAuliffe Offered
this explanation:
Few people appreciate tha'
the military is big business. Fol
any commander his militar!
requirements are relatively mi
nor"
Gen. McAuliffe. a handsome
man with a twinkle in his eye
is now a vice president o
American Cyanamid Corp.
Can a military organization
Evening star., 1963-05-15
Instrument Concern
Opening D. c. Office

The Eberline Instrument
Corp. Of Santa Fe, N. Mex. q
manufacturer of nuclear ana
Pathological reactor instrument
tation systems, has announced
establishment Of an Eastern
regional headquarters at l345
Pennsylvania avenue NV.
The company also said its
East Coast service center.
located for several years in
Pittsburgh, will be consolidated
with the Washington operation.
Don E. Mitchell. vice presi-
dent in charge Of marketing. Is
coming here from Santa Fe
to head the office.
Evening star., 1963-05-15

trusts real estate purchases for
1868 now total SIS million.
The Waverly Building, built
in 1857 and containing $4,000
square feet, was purchased
from a group OF investors
headed by Samuel f. Bogley,
mortgage banker and realtor.
The broker was Dorothy K.
Winston.
Sidney J. Brown. president
of First National Realty, said
plans are under way for a u.s.
000-square-foot addition on a
lot adjacent to the building at
1880 Montgomery avenue that
was acquired in the transac-
ton.
Evening star., 1963-05-15
AT&T DECLARES
USUAL DIVIDEND

NEW YORK (AP).-The
American Telephone &
Telegraph Co. today de-
clared a regular quarterly
dividend Of 80 cents a
share.
1t will be paid July l to
more than 90 million
shareholders of record on
May 81. The giant utility.
parent of the Nationwide
Bell Telephone System, has
more shareholders than
any other corporation.
The annual dividend rate
has remained unchanged
at $3.50 a share since July.
1860, despite Wall Street
speculation that it would
be increased.
Evening star., 1963-05-15
ARC to Contest Suit

The Atlantic Research Corp.
has announced that 1t will con-
test the suit filed against 1t last
Friday in Federal District
Court, Alexandria, by Televi-
sion Electronics. Inc, an Illinois
firm incorporated in Delaware.
The suit charges that ARC
failed to comply with a con-
tract for the sale of $4,025, 900
in its stock. The suit asks that
ARC be directed to refund the
amount to Television Electron-
les with interest and costs.
Evening star., 1963-05-15
BUSINESS BRIEFS

Sunbeam Corp. in 50 weeks
ended March 30 earned $l3,-
0S4-187 or $3.08 VS.. $l,392.627
or $3.50 In 1872 period.
American & Foreign Power
in 1862 earned $9.747,085 or
sl.33 a share VS.. $9.42l ,693 or
$l.29 in 1861.
Other earnings included:
Far ouarter Fnded March II
Evening star., 1963-05-15
McCrory Picks Lone

NEW YORK (AP). - Harold
M. Lane. chairman Of the Ler-
ner Stores Corp, has been Sc
lected president and chief ex-
ecutive officer OF the McCrory
Corp. q variety store chair
which controls Lerner.
Evening star., 1963-05-15
Electricity Production last

Electricity Production last
week was l6,529. 100000 kilo-
watt-hours VS.. 1929, ,000, 900
the previous week and l5.475.-
600. 900 in the like 1862 week.
Edison Electric Institute.
Neisner Bros. has omitted
It's quarterly dividend. The va
riety chain paid 5 cents In
March.
Tidewater OIL has acquired
onshore and offshore conces-
sions for diamonds and other
minerals in 10000 square miles
In South West Africa from
Diamond Mining a. Utility Co..
SWA, Ludlow Jones.
Union Pacific RR reports an
experimental turbine engins us
ing powdered coal has done
very WE'LL" but several bugs"
remain.
Earnings
Arkansas Louisiana Gas In
IL months ended March 81
earned $l9.027.6l3 or $i.79 a
share VS.. $l9,048.884 or $l.74 In
1912 period.
Best a. Co. In quarter ended
April 80 earned s298.959 or 81
cents q share VS.. S379.725 or
64 cents in the 1862 quarter.
Johns Bargain Stores In l6
weeks ended April 20 lost $685.
702 Va. loss Of Sl22.406 In 1862
period.
The Detroit tribune., 1963-09-21
August Bond Sales
Hit Year High

WASHINGTON, DC, - Sales
of us. Savings Bonds hit a sew
en-ycar high in August, amount
ing to 1899 million, the Treasury
reported. This was IL per cent
above those of year ago, and
the highest sales for the month
of August since 1856.
Combined cash sales of Ser
les L and II Bonds were eJ8 mill
ion over the $3.50 million for
August, 1862. Gross rcdcmptions.
including S58 million in accrued
interest on T. Bonus, were 1854
million, or 6 per cent below
those of year ago.
+ Bond sales of 1888 million
reflected gain of Is per cent
above August, 1862, whwile II
Bond sales of Sal million were
off Is per cent, or So million,
compared TO year ago.
William II. Neal, National Saw
ingS Bond Director, credited the
continuing strong sales showing
m large measure to current in
dustry-wide Payroll Savings cam
paigns. He said that over 900,
600 new savers have been adj
ded to date, with results still
coming in.
The Detroit tribune., 1963-09-21

NEW YORk-Thc NAACP Lc.
cal Defense Fund ncttcd $1,000
on the first day of a 10 day art
festival being held in its behalf
It the Brooklyn Museum this
week.
More than 1000 persons visit
cd the exhibit on its first day
II was coordinated by hire c
Brooklyn housewives who decld-
ed TO "do something about the
current struggle for human
rights"
Prices range ffom $500 for
photographs to $500 for Que
dado". six-by eight foot alb
stract by the noted artist Elaine
DcKo0ning. who was first to con
tribute her work TO the exhibit.
However, by the time the eN
hibit was ready to open. 100 art
The Detroit tribune., 1963-09-21

The Harvard Club. The luncheon
was the second annual city-wide
meeting of the Committee called
by Mayor Robert F. Wagner,
honorary chairman. Some 90
commissioners and municipal
department executives attended.
Until last month Mr.. Slater,
who is white, was on the fac
ulty of UNCF's Tougaloo South
ern Christian College near Jack
son, Miss. Despite being dubbed
and arrested by Jackson police,
he maintains that "Tougaloo ex-
crts a general liberalizing in
f,uence on its surrounding en-
vironment The college is destln-
cd to play a leading role in
the Negroes progress toward
civil rights" he said.
Mr.. Salter, now field secretary
for the Southern Conference
Educational Fund. shared the
platform with Mayor Wagner
and DR.. Stephen Wright, pres
ident OF Fisk University in
The Detroit tribune., 1963-09-21

at the home of Mr.. and Mrs.
Fred Davis. The table setting
was beautifully taken care of
by Mrs. Marion and Mrs. Lisa
Wicker, both members of our
block club.
The back to school fashions
were the latest in styles an d
the modelling by our youngsters.
We were very proud of our
young ones. They did a tremen-
dous job.
The talent among our young
sters was something that sur
prlscd some of our adults. Mr..
Willie Wicker did a terrific Job
as Master of Ceremonies, being
that il was his first try at it.
There was the welcome address
by Miss Denise Gordon. songs
by George Wade, Venison Will.
Jams, Alfred Braswell and Steph-
anle Harrison. Also poems by
Lionel Wade, Danny Williams
and Sandra Lowry.
The program, tea and fash.
ions, turned out to be a lovely
affair enjoyed by all.