davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-04-07
BY DONALD b. HADLEY
Star Financial Editor

Star Financial Editor
Controller of the Currency
James j. Saxon charged yes
terday that recent criticism of
his office by State bank super
vtsors had been prompted by
their fears of the improved
competitiveness Of national
banks.
He also charged that many
banks around the country were
not serving the public ade-
quately and were seeking gov
ernmental protection against
competition.
Mr.. Saxon made these
charges in statement replying
to a poll of the State bank
division of the American Bank
ers Association, which said on
Friday that relations of the
State supervisors with his Of
flee were at a low ebb."
1.-THE attack now being
mounted against this office is
engendered by fear of the i'm
proved competitiveness of ma
tional banks, which has been
inspired by the efforts to mod
ernie the lending, investing,
trust and other activities of
national banks" Mr.. Saxon
said.
Bulletin to Be Discontinued
He also announced that his
Offices weekly bulletin would
be discontinued on June 8. The
publication, which lists appn-
cations for new charters,
branches, mergers and other
actions, had been designed pri-
marily for State supervisors,
but has also gone to the press
and other interested organiza-
tons.
1t will be replaced, on the
State level, by individual re-
ciprocal arrangements for ex-
change of information with
each State, a spokesman indi-
Gated. For information of the
press and others, the control
ler's office is planning a new
quarterly review of banking,
and possibly a monthly dis
tribution of information.
Ear too many banks in this
country today" Mr.. Saxon as
serted, do not extend to the
public the type and quality of
banking services to which the
public is entitled. These insti-
buttons seek the shelter of gov
ernmental protection against
competition from all sources
whether they may be CONNER
cial banks, savings and loan
associations, credit unions or
any other type of institution
providing financial services.
Competition Sought
I'VE do not believe it to be
the proper function of Govern
ment to protect the non-com-
petitive bank against rivalry
We have sought by every law
full means to maximize the
competitive capacity of banks
under our Jurisdiction and we
shall continue to do So"
Referring specifically to the
ABA's Interpretation of the poll
of State supervisors, Mr.. Saxon
said that within the first
month of my tenure of office,
I put into effect a systematic
plan to seek cooperation of
Iilc pdIlklIlB auLnorlLleS In all
so States.
ION December IL, 1861, all of
the State supervisory authori-
ties were asked to join in a
cooperative arrangement for
exc h ange of information. |
Thirty-six Of the State author
tiles made no response what
ever to this proposal.
Because Of this failure Of
response we had to rely |
solely on the Weekly Bulletin,
which we innaugurated as a
device to keep the State au-
thorities currently informed of
the activities of this office.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-04-07

But despite our unilateral
effort to keep these State au-
thoritieS informed, we have
found no further willingness on
the part of such State author
tiles to reciprocate.
Faced with these facts, and
because of the heavy costs of
producing the Weekly Bulletin,
we decided several days ago to
abandon this approach and seek
once more to work out specific
reciprocal arrangements for ex-
change of information with in
dividual State authorities. A
plan for this purpose will be
announced within a few days.
He rejected a suggestion
made by the ABA poll that ma
tional banks be required to get
approval of both Federal and
State authorities for new char
tiers and branches because dual
approval is required for State
banks belonging to the Federal
Reserve System or Federal De-
post Insurance Corp.
Federa1 approval of State
bank charters arises out of the
voluntary decisions to become
part of Federal organizations,
he said, and any delegation of
power to State authorities to
veto the controllers decisions
would be improper.
Overbanking Doubted
Mr.. Saxon also rejected a
statement in the poll that there
was danger of overbanking in
some sections of the country
because he was disregarding
the views Of State authorities
that new national banks would
harm existing banks.
I'm passing upon national
bank charters, we examine with
greatest care the community
requirements for additional
banking facilities" he de-
clared.
I'VE do not consider it to be
our function to safeguard
banks ag ainst competition
where public interest clearly re-
quires additional banking ia
cilities. A community will not
become overbanked merely be-
cause new competition forces
existing banks to operate more
efficiently"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-04-07
L STREET BENEFITS.

This is O special onoIysis by Miss
Porter Of lost weeks Securities and
Exehonse Commission report on the
securities industry. Her regular
column oppeors on Poee ELS.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-04-07
BY RICHARD II. HOENIG

Associated Press Business Writer
NEW YORK - At a recent
New York wedding the newly
! weds opened a gift envelope to
; find the unfamiliar portrait OF
Grover Cleveland staring al
them.
Clutching anxiously at the
single bill inside they discov-
cred it was worth the same as
/ 900 Of the common 81 kind
that carries the familiar pic
ture of George Washington.
The gift was from the brides
father who obtained the bill
through his bank.
Thousand-dollar bills aren't
given or received as gifts too
often but that is one use made
of the four denominations Of
United States paper money
worth more than 500 each.
The others are the $500 bill
with the picture Of William
Mckinley, the $4,000 portrait
of James Madison and the
Largest bill Of all, $4,000, car
trying the picture Of Salmon p.
Chase, a former Treasury Sec
rotary.
There are over 3.5 billion
pieces Of paper money circu-
lating in the United States to-
day but only about / In 5000
is worth more than 500
There's so little demand for
these big bills that the Gov
eminent hasn't printed any
since 1945.
$4,000 Bills Scarcest
The $4,000 is, naturally, the
scarcest of all.
why I've spent Is years in
the bank including 10 years
behind a window and I never
saw a $4,000" said an execu-
tive Of one big New York city
bank.
At the end Of January the
Treasury reported only 400 of
the $4,000 bills in circulation,
meaning outside the Treasury
and Federal Reserve vaults.
II don't even know where
you would find a $4,000 In
New York except for the one
we have on display here and
those in the Federal Reserve =
said Vernon Brown. curator of
the Money Museum Of the
Chase Manhattan Bank.
The museums $4,000 note
was obtained from the Federal
Reserve IS years ago after gold
certificates had been recalled
by the Government. 1t hangs in
a glass case along with ex-
amples Of all other denomina-
lions Of bills.
Bankers Curious
We've had q number of
bankers come In who wanted TO
see ours because they said they
had never seen one," Mr..
Brown added. Only $50 OF the
5000 bills were in circulation
at the end Of January. There
were 2S8.l69 bills of $1,000
denomination and more than
475.000 Of the s50Os out. ac-
cording TO the Treasury's
monthly currency statement.
What else are big bills used
for2 How do you get one2 What
do you do with one after YOU
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
YMCA Attraction
Is at AU- Time High

The number Of boys stream
ing into local YMCA branches
has reached an all-time high.
it was announced today by E.
V. Rasmussen, general secre-
tary of the Greater Cleveland
YMCA, who reported member
ship totals for 1862.
Last years figure for boy
members in the areas 20
branches was 23,937, an in
crease of 621 over 1861. This
compares to 18,961 in 1850 and
16,751 in 1910.
East Cleveland Branch, 1881
Lee blvd, and Euclid Branch,
631 Babbitt rd., had a total of
1887 boy members in 1862.
The increase in boy member
ship reflected the general in
crease in Y membership dur
ing 1862, Rasmussen reported
The total increase in parti-
cipating members over 1861
was almost 1000, to 43,277,
another alI-time record. Added
to the partner-members fund
contributors this gave the
YMCA a grand total of 72,209
members, also record.
Rasmussen pointed out that
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Daughters to
Be Honored by
Women S Club

During the month of Feb
'ruary the East Cleveland
Woman's Club will feature
daughters who will provide the
y programs, serving as hostesses
and will be honored guests on
Thursday, February 7, at 2
pm. at the clubhouse. 1747
Lake Front ave.
The program will be a Book
. Review, "Tibet Is My Country,
written by the reigning Dalai
Lama, who is in exile in India.
The review will be given by
= Mrs. William Giesel who is the
daughter of Mrs. Ralph Barton.
Mrs. Giesel is a native East
:, Clevelander and is currently
president of the Woman's So
ciety of Windermere Methodist
. Church.
Hostesses will be Mrs. Cliff
ford Janos, daughter of Mrs.
Kenneth Vermillion and Mrs.
j. ]. Shalvoy, jr., daughter-in-
law of Mrs. j. J. Shalvoy, sr.
Table arrangements under
kdirection of Miss Elma Rouk
md Miss Edna Hanes.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Shaw GrappIers
Bow to Brush

Last Friday the Shaw wres-
tling team was defeated by
Brush 28-13. Winning their
matches for the Cardinals were
Tom Petri, Bob Petch, and Don
Highley. Petri outscored his op-
ponent 81; Petch trounced his
opponent 1912; and senior High
ley mauled his opponent II.
Wrestling their last matches
for Shaw were 1873 FOUNDER,
Roger Walko, and 154 FOUNDER,
Sheldon Benton. Both men wres-
tied to a draw with their respec-
tive opponents.
The j. V. Squad lost a close
27-2O exciting meet. Winning
for the junior varsity grapplers
were Bruce Petch, John Flow
ers, Dave Thomas, and Barry
Ellington.
This week the matmen face
Shaker Heights after school on
Thursday at home, and Collin
wood at 7:30 on Friday at Col
linwood.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31

With this edition of the
LEADER, the latest addition to
our editorial staff makes his
official debut. He is John Sheri
dan, a resident of the area for
% years, who recently COM
pleted his undergraduate work
lin mathematics, oddly enough)
at John Carroll University.
A 1858 graduate Of st. JOS
eph High School, Mr.. Sheridan
was active for four years on
his college newspaper, the Car
roll News, and has worked for
the Plain Dealer sports Depart
ment in a part-time capacity
while attending John Carroll.
He also served for two years
as the Blue Streaks' athletic
publicity director.
Mr.. Sheridan lives at Isl East
216th st.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Auto Club
Sends Hrovat
To School

East Cleveland Police Ser
geant Richard J. Hrovat, 81, of
1116 East 145th ST., was one of
seven winners of the Cleveland
Police Foundation Scholarships
to Northwestern University's
Traffic Institute it was an
nounced today.
He was among 46 officers
from % communities who took
the Foundations competitive
exam recently at Western Re
serve University.
Sgt. Hrovat will receive the
three-week all-expense paid
scholarship award at an Auto
mobile Club Luncheon Tues
day. The Essentials Of Traf-
fic" course begins Feb. 11th at
Evanston, III.
Five police chiefs comprise
the Police Foundation Com
mittee, which announced the
Scholarship awards. Chairman
is East Cleveland Chief H. S.
Weaver. Automobile Club Coun-
sci Raymond A. Boland is the
Committees secretary.
This is the 17th year of the
AAA Clubs program TO broad
en- knowledge among area
police.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Junior Board
Theme Is on
Interior Design

The Junior Board of Huron
Road Hospital will hold a
luncheon and business meeting
Wednesday at y noon at the
home of Mrs. Richard J.
Rinear, 5236 Mayfield rd.
Following the business meet
ing, Mrs. William Cordes will
speak on "Good Taste in In
terror Design"
Chairman for the luncheon is
Mrs. Stanley Webster and her
assistants are Mrs. w. P.
Fitzsimons, Mrs. John Reichert
and Mrs. John Stephan.
Saturday, Feb. 9th. the Board
is presenting its annual bene-
fit dinner dance, "A Hawaiian
Ball" to be held at the Shaker
House Motor Hotel. Cocktails
at z pm, dinner at 8 and dam
cling to music by Nelson Press
Tvs orchestra until l am.
Chairman of the dance is
Mrs. Lawrence Hadbavny with
Mrs. Frank Mavec as Co.
Chairman and assisted by the
following com m i t tee: Mrs.
Ward Heinrich, Mrs. John
Stephan, Mrs. Arthur King,
Mrs. w. P. Fitzsimons, Mrs. j.
Kenneth Potter, Mrs. Fred
Suppes, Mrs. Stanley Webster
and Mrs. Donald Spotz.
Proceeds from this dance will
benefit the Pediatrics Ward of
Huron Road Hospital.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31

Last Friday, Shaw sent a
home crowd away happy by
picking up its fifth consecutive
Lake Erie League victory. The
Cardinals downed game Brush
five, 67-52. building substan-
tial lead in the opening half.
Once on top by "a points, Shaw
had to stave off a spirited third
quarter Arcs rally, in which
deadly outside shooting closed
the gap to only seven. The home
team, however, held on to i'm
prove it's season slate to Sd
in the LEI. and 8-4 overall.
The Cardinals attack was
paced by Senior forward Jim
Smalley. who had the finest
night of his high school career.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Local Girl
In College
G|ee Club

Miss Margaret Elizabeth
Kerr, daughter of Mr.. and Mrs.
William Kerr of 983 Nelaview
rd., and junior at Otterbein
College, Westerville, Ohio, is
one of 45 girls in the Otter
bein Women's Glee Club Sc
lected to sing with the choir
during it's annual tour.
This years tour will see the
group covering northern Ohio.
A total of twelve concerts will
be presented in ten different
cities in a five-day period.
DR.. l.. L. Shackson is direc-
tor of the Glee Club.
Miss Kerr is majoring in ele-
mentary education at Otterbein.
She sings second alto with the
choir.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Announce Plans
To Expand Shaw
Speech Program

Shaw High School has an
nounced plans to expand its
Speech curriculum this year.
In addition to the preesnt one
year course in general public
speaking, parliamentary proce-
dure, semanatics, and oral in
terpretation, new course in
Discussion and Debate is being
instituted this semester.
This new class will give stu
dents training in the techniques
or augmentation and logical
thinking. Both courses are cleo
tives open to all students.
In addition to class room
study students will have an op-
portunity to compete in inter-
school tournament, debating, or
story, humorous and dramatic
declaamtion in the Greater
Cleveland Area.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Police Seek
Robbers Who
Shotgun

East Cleveland police are
still seeking two men who held
up the Lewis Delicatessen, 1854
Hayden ave, last Saturday and
escaped with an estimated $40.
According to the owner,
Leonard Lewis, 14104 Savan-
nah, the two men entered his
store around 10:45 p. m. and
one asked for pack of cigar
cites.
When Lewis turned around.
he said, he looked right into
the business end of a sawed
off shot gun. Also robbed Of
$40 was a woman customer.
A person who refused to give
his name to police saw the two
men escape and gave detectives
a description of the getaway
car.
Police picked up several sus-
poets over the weekend, but all
were eventually released.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Korb Center
Swim Meet
Draws 800

There will be nearly 500 en-
tries Saturday in the third an
nuaI Age Group Swim Meet
at Korb Center Pool.
Under the joint sponsorship
of Cleveland Swim Club and
Shaw High School, the 25-
event program has attracted
contestants from % different
swim clubs in Ohio, surrounding
states, and from Canada.
The gun for the first prelim-
mary heat will be fired prompt
ly at 10 a. m. Finals are eX-
pected to get underway in late
afternoon.
Many Of the competing swim
mers will be from East Cleve-
land, including Chuck Shantry,
Ted Walsh, George Spencer, jr.,
Robin Graham, Ted Mann. jr.,
Mark Westcott. Bruce Westcott,
Apthorp, Diane Ap-
thrcp, Meg Gottron, and Deb
bic Koenig.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Boat School
Starts at Y
Wednesday

A school for outboard and
new boatmen will be conducted
at the East Cleveland YMCA
next Wednesday by the South
Shore Cruising Club. Class time
is 1880 p. m.
The course is an effort by
South Shore members to pass
on their knowledge and salts
faction Of the sport to others.
Subjects covered will be
boating legislation, emergency
outboard motor repair, fire
prevention and first aid, rules
of the road, selection and care
of propellers, Erie Island cruis-
ing, how to navigate through
commercial fishing waters, To-
cal weather warnings, safety
on the trailer and sfloat and
sport fishing.
Past Commodore Charles F.
Brown will preside at the
school and those interested can
call EV. 1884 or DI. 1880
for further information.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Citv Snow Ordinance Passed
Tuesday By Commissioners
Groffo Circus
Clown CoIorinu
Contest Starts

Hey, kids-and grOwn-ups
too. Which is your favOrite
type of circus clown?
Well, here is your chance
to let this newspaper know
and at the same time, have
a chance to win S25 in cash
and four reserved seat tick
cts to the 1868 GrOttO Circus
which comes to Cleveland
Thursday, Feb. 14th.
Elsewhere in this news
paper are the official rules,
clown to color and entry
blank.
SO as they say in circus
talk, Hurry, Hurry, Hurry
and get your entry blank into
this newspaper"
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Janet Schuff
Elected to
Campus Post

Miss Janet Schuff, daughter
Of Mr.. and Mrs. Paul A. Schuff
1841 Grasmere ave-, has beer
elected treasurer Of the Panhel-
lenic Association of Florida
State University.
She will represent her soror-
ity, Delta Zeta, on the Panhel-
lenic Executive Council. Miss
Schuff also was recently ap,
pointed by the Women's Vice
President to serve as secretary
Of the Women's Senate.
Janet is majoring in physica
education, is a junior counselor
an officer in her dormitory, and
is chaplain Of Phi Delta Pi
national physical education
honorary for women.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31

Lutheran Church, made this
statement at a program-plan-
ming meeting for East Cleve-
lands Community Council. The
committee agreed, and decided
that Council is appropriately
the most representative group
to explore this aspect of living
in East Cleveland.
The most common questions
to arise when inter-racial liv-
ing is discussed are: How are
our schools being affected? Our
businesses? How are our
churches and homes affected =?
A program has been planned in
which these, and related as
poets of racial living, will
be discussed.
Panel of Speakers
The Community Council takes
pleasure in inviting the public
to hear a panel of speakers,
each with a vital interest in
East Cleveland, on Feb. 14th.
1880 pm. in Shaw High Audi
torium. (Use Shaw Auditorium
entrance.) Their topic will be
"My View Of Inter-Racial Liv-
ing In East Cleveland, and
each panelist will approach the
subject from his own specific
area of interest.
Panel members are John
Jirus, principal of Rozelle
Elementary School, who will
speak from an educators view
point; Joe Diamond, owner of
Diamonds Mems Store, in the
Forest Hills Shopping Center,
who will speak as a business
man in East Cleveland; and
Stanley Smith, plant manager
of the Ohio Chemical Company,
who will speak as a Christian
layman of East Cleveland's
Calvary Lutheran Church.
Brooks MOderatps
Acting as moderator and
final discussant will be Oliver
Brooks, vice president Of the
University Circle Develop
ment Foundation, who will
speak from the viewpoint of
general sociology, and of the
mutually-interested neighbor-
hood directly west of East
Cleveland.
Community Councils Presi-
dent, Don Fortune, stressed the
significance of this program
in a general invitation to all
East Clevelanders:
81 would like to urge as
many of the citizens in East
Cleveland as possible to attend
this program, as it involves
community living"
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
'Dotes' Get
Rate
At Musical

Male students can take their
dates to the musical Girl
at Kirk Junior High
School tomorrow and Saturday
for bargain rates.
The show is presented by
Musical Productions and stu
dents who purchase one ticket
at the box office will be allowed
to take their girl friends in at
no charge.
Show time both evenings is
at $3.50 pm.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31

St. Philomena Guild is plan
ming a Vanity Fair Luncheon,
Valentine Day, Feb. 14th in the
social hall.
Besides lunch short demon
stration of flower arrangement
ID planned.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Cardinals Win Fifth; Face Shaker and u. S.

ba aseball team. Bruce, who net
ted the winning basket in the
important Euclid contest, will
be missed by the Shaw cagers,
but here's hoping the Cardinals
continue their winning ways to-
morrow night at Shaker and
Saturday, when they entertain
University School, their oldest
rival.
Saturday Basketball
The Saturday Basketball Pro-
gram for East Cleveland boys
in grades five through eight
will be postponed this Satur-
day, due to the swimming meet
in the Shaw Pool. The sessions
will be continued next Satur-
day, Feb. 18th, as usual.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Baseball Is
Exchange Topic

Harry Jones, prominent
Cleveland baseball broadcaster
will be the guest speaker at
Tuesday noon meeting Of the
East Cleveland Exchange Club
at Tuesday noon meeting of
the East Cleveland Exchange
Club at the YMCA.
Jones will show the gather
ing color slides of the 1862
Indians and will give an en-
tertaining talk on the past
season as well as on the up
coming baseball situation.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Gardeners to
Meet tuesday

The next meeting of The
Terrace Garden Club will be
held at the home of Mrs. Stew
art Arlington, 1892 Brewster,
Tuesday at Ills p. m.
Mrs. William II. Morris will
give a book review of "Wash-
ington's Lady," by Elswyth
Thane.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31

the gains in membership re-
fleet the constant increase in
population in the county, one
Of the major reasons the YMCA
and YWCA are currently pre-
pairing a Building Fund Cam
paign, the first in nearly ten
years.
Goal Of the campaign is to
provide sufficient facilities to
serve the needs of this grow
ing population. New build
ings, additions to some of the
current branch buildings and
rehabilitation of others are
planned.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31
Safety Council
Invites Public

The public is invited to Fast
Cleveland Safety Council meet
ing Monday at 8 p. m, in City
Hall.
Program for the evening
will be the annual statistical
report of East Cleveland Po-
lice and Fire Departments.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31

Bregar Joined the bank in
1916 and was assistant mana
ger at Euclid -Windermere since
1858.
Kleinfeld has been with the
bank since 1868, and was ap-
pointed chief clerk ct Nela
Park in 1858.
East Cleveland leader. [volume] (East Cleveland, Ohio) 1942-1970, 1963-01-31

floor game, as did Pat Visci.
This was the final game for
Bruce Matte, January graduate
who, in addition to basketball,
was one of the states top high
school quarterbacks and pitched
and played first base for Shaw's