davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-17
BY the Associated Press

Air freight moves into the jet
age tomorrow.
That is when Pan American
World Always inaugurates
Transoceanic Service, across
both the Atlantic and the Pa
cific, with 540-miles-an-hour
Boeing 707-321C all-cargo fan
jets.
Harold L. Graham, jr., vice
president for Cargo Sales, says
the new service will provide de-
livery of United States products
in Europe, and Of European
goods in this country, the day
after they are ordered.
Mr.. Graham said Pan Amer
lean will couple the speed of
the new cargo delivery with the
international marketing advis-
DRY service which it established
In 1861.
In this field, Mr.. Graham
told a news conference, the air.
lines economic experts around
the world help companies find
international markets for their
products, or new sources for
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-17

sales figures are unoncIaI.

sales figures are unofficial.
Unless otherwise noted rates Of divi-
bends In the foregoing table are annual
disbursements based on the last quarterly
or senll-annual declaration. SpeciaI ar
extra dividends or payments NOT dexlq.
rated az regular are Identified In the
following footnotea.
a-Also extra Or extras. b-Annual rate
Plus stock dividend. c-Liquidating dlyI.
oend. Declared OF paid In 1915 plus
stock dividend. e-Paid last year. T. Paw.
able In stock during 1873, estimated cash
value on ex-dividend or ex-distribution
date. g-Declared OF paideo lar this
year. h-Declared or paid after stock
dividend or split up. k-Declared or paid
tnis year, an accumulatiVe issue with
dividends In arrears. p Paid this year,
dividend omitted. deferred or no action
taken at last dividend meeting. r-De.
clared or paid In 1857 plus stock divi.
dend. I - Paid In stock during 1861.
estimated cash value on ex-dividend or
en- distribution date. x-Sales In full.
cid Called. lex dividend. y-Ex Divl.
dend and sales In full. KIDS Ex distribu.
uon. MEX rights. xw-Without war.
rants. ww-Wlth warrants. wd-When dis.
tributed. wt-When issued. nd Next day
delivery.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-17
Stocks Mixed,
Rails Strong;.
Trading Steady

NEW YORK, (AP). - Rails
were strong in a mixed stock
market early this afternoon.
Trading was moderate.
The rails advanced following
President Kennedy's interview
ton which blocked the threat
OF an early rail strike and
made clear that Mr.. Kennedy
is ready to ask Congress to
bar any tie-up over the
"featherbed" issue.
Steels showed barely any
change as efforts by the steel
workers union to improve their
labor contracts entered a de-
cisive stage with union officers.
Sharp losses by some of the
chemicals tended to balance
out the gains by rails. Scat
tered strength among utilities
served to give the overall list
a very slight leaning to the
upside.
Motors also were active but
the leaders in this group
showed a patchwork Of gains
and losses. An assortment Of
selective issues were traded
actively, as in recent sessions.
Volume for the entire market
vas lower than it has been in
several sessions.
Analysts still saw the market
as undergoing a corrective
phase after its large rise this
year and were inclined to be
cautious about their recon-
mendations.
Prices on the American Stock
Exchange were mixed in quiet
trading. Syntex was delayed by
an accumulation Of buy orders
and advanced more than 2
points.
Corporate bonds were mostly
unchanged. Government bonds
were easy.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-17

being reorsanlssd under he BANKRUPTCY
Act, o. securities assumed by such com.
panles. u Ex Interest. Ct Certificates,
bonds. negoliabllity impaired By maturity.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-17
DEFENSE
CONTRACTS
By Dow Jones


United Aircraft Corp. received Navy
contracts totaling Sls,S2S, so for iet air.
craft engines.
PhllcO Corp, subsidiary Of Ford Motor
Co., received a $40 million Army contract
for electronics equipment.
Radio Corp. Of Amer. received an
Army contract Of s9,l43.ol6 fer radio sets.
National Cash Reg. Go. said II had
been awarded a contract for the lease
Of up 10 ia Of its model $40 data
processing computer systems at Air Force
bases. Air Force sources estimated Il
would involve an annual expenditure Of
81, $50, 900.
Elgin National Watch Co. received an
Army contract Of 81 ,e99 $50 for timing
devices on artillery shells.
General Dynamies Corp. received an
Army contract Of 400 for continued
research and development Of the MauleI
weapon system.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-17
TREASURY BONDS

NEW YORK (AP) - Noon over the
counter U S. Government Treasury bonds,
bid, asked, net change and yield for
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-17
CHICAGO GRAIN

CHICAGO. ZAP The grain fu-
lures market absorbed q moderate vol
ume OF profit eashing AZ weaker prices
In early transactions today then re-
covered somewhat and posted gains in
wheat, corn and soybeAns.
The renewed support was credited 10
little commercial buying and short
covering on the declines. July soybeans
moved up almost a cent and nearby
wheat months small fractions.
The early pressure was described as
profit selling BY spectators who had
failed 70 balance positions In the late
advance on Friday, particularly in
wheat and soybeans
AZ midsession, wheat was UNCHANGED
TO- 20 corn s,@ higher, July " ;sI ~
t-s. lower July 81 90. soybeans =
higher 10 a lower, July Sa,B6h
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-17
COTTON

NEW YORK (APD,-cotton futures
were generally higher late today.
Commission houses were on both
sides OF the market
dueeed some buying
Crop reports were generally on the
favorable side A Houston spot firm
said the crop made good progress IN
Corpus Christi area where no more
than IS 10 30 per cent OF a normal
CROP anticipated because OF tho
drought, The erop made good 10 fair
soiFs ana h, S ssn' w. belt the
Late afternoon prices we're un.
changed 10 10 cents . bale higher
than the previous elose July 1850.
october 3.'72 bid and December $3.50.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-17
METALS

NEW YORK (AP).-spot nonferrous
metal prices today: copper 81 cents q
eoSad ponnS Sew V YOfE zn ad 49,
Il cents q pound. East 81. Louis Tin
Liza pound, New York. Foreign
silver 1.27S per troy ounce, New York.
Pittsburgh scrap steel No. l heavy was
$500.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-17
D. c. SECURITIES

Bid and asked prices on stocks listed
on the Philadelphia altimore- wash
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-17
ODD-LOT TRADING

s,dM.EEW YORK CApl:LIhe New YORK !
odd lot transactions by principal deal
ers for June "a: purchases Of 25O,394
shares; sales Of 3l3,72l shares inchld-
ing 2,l4S shares sold short.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25
BY GERALD M. LOEB


NEW YORK-When you suf-
fer losses as you probably did
last year and when you go
through period of uncertainty
as in the past few months, you
naturally aim at reducing risks.
The big losses of 1872 were
in newly floated, overtime
counter, so-called growth issues
and in overappraisals of earn
ings and value in long listed
stocks that were supposed to be
in special categories.
Today you are most likely
concentrating on blue chips
and diversification as a key to
market profits.
Diversification in investing
is a means Of reducing risks at
the, cost Of limiting gains.
1t is by far the most popular
and safest way to invest for
the average investor in Securi-
ties. 1t is also the recon-
mended way for most save the
rare individualist.
Diversification is not limited
to the rank and file. 1t is prac-
ticed by the professional and
institutional portfolio manager
as well.
No great fortunes were ever
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25
BituminOus Production in the

BituminOuS Production in the
week ended August II totaled
100000 tons compared with
9,350,0OO in the previous week
and S,641 900 in the like week
a year ago.-National Coal
Association.
Rail Freight LOadings in the
week ended August II totaled
576,657 cars, up 3 per cent
from the previous week, but
down l per cent from the like
week a year ago.-Association
of American Railroads.
Motor Vehicle Output last
week totaled 1892 cars and
1864 trucks compared with
1871 and 11,723 in the previ-
GUS week and 8,109 and 1885
in the like week a year ago.
Automotive News.
Copper Shipments in July
totaled 95,131 tons VS.. 1884
in June and 1856 in July a
year ago. New orders in July
totaled l00,l65 tons VS.. 1858
IN June and 91,739 in July,
l962.-Copper Association.
Crude Petroleum Stocks, do
nestle and foreign, on August
II totaled 255,425,00O barrels,
up 3,569,00O for the week
Bureau of Mines.
EtOn Mfg. Co. and Yale g.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25
Stock Variety Safe, Not Road to Fast Veal

built by diversification. This is
still true. 1t should be said, on
the other hand, that 1t is diff
ficult to go broke when you are
diversified.
There are many ways for the
security investor to diversity.
1t is unlikely any investor
would embrace them all, or
even a large number.
The first consideration is
usually the Investigation be-
tween bonds and cash known
as fixed dollar investments and
common stocks or equity invest
ments. 1t is possible to find
absolute dollar safety but not
purchasing power safety in
cash and properly selected
bonds. Stocks have profit and
initiation hedge properties but
involve commensurate risks.
Thus, the split between them
varies with the needs of each
investor and the conditions ex-
listing at the time the invest
ment is made. $3.50 is a popu-
lar division. However, the range
is wide.
The second consideration is
usually given to a division of
investments among varying is
sues. In the bond category, a
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25
YOUR MONEYS WORTH
No Depression
For rs Years
By SYLVIA PORTER

ance gives jobless workers
spending money while they are
out of work and our vast PEN
sion Systems-public and pri-
vate-give millions steady in
comes which they spend i'm
mediately. Today, bank deposit
insurance protects our savings
in financial institutions and our
methods of financing homes
draStically limit foreclosures.
Today, Government spending is
a constant prop under the
economy and the broadening of
business to include many new
industries and services helps
make us less sensitive to trouble
in one or two big industries.
Today, wages rise in bad times
as we'll as good and support
consumer spending while prices
hold in bad times as we'll as
good and support corporation
profits.
We have not conquered the
business cycle but for a quarter
century we have avoided de-
preston. With the 1861? up
turn getting odd" we are now
concentrating on tax reduc-
tons to give it new life, thereby
emphasizing that we are more
determined than ever to main
tain our no-depression record.
Distributed, 1868, BY The Hall
Syndicate. Inc. All Rights Reserved
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25
CIT Financial Files
$1O0 Million Issue

NEW YORK ODD. - CIT
Financial Corp. has filed for
registration with the SEC
500 million Of its debentures
due September /, 1884.
The debentures are to be
offered publicly about Sep
TENDER II, 1868. through an
underwriting group headed by
Dillon Read 81 Co., Inc, and
Kuhn Loeb g. Co., Inc.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25
STOCKS

diversification of maturity or
due dates is an effective safety
measure. In stocks the usual
division is made between vary
ing industries.
The third consideration is
time of purchase. Instead of
investing all funds at once the
investment is made at inter-
walls in order to attempt to get
an average price. If the funds
are available when prices are
low this can result in higher
costs. If prices are high it
may result in savings. AS no
one knows in advance which is
the case, investing at intervals
is helpful to most in the long
run.
These are the most popular
forms of diversification. An
other form is by quality. Per-
haps 40 per cent top grade; 40
per cent businessman's risk
grade; 20 per cent speculative
grade.
Then there are those who
like geographical diversified
ton. This formerly took the
form of some percentage in
foreign shares. The Govern
ment is finding it necessary to
restrict foreign investment
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25

Beginning Tuesday. Septem-
Der 8. most Washington area
laundries will increase their
minimum wages to SIPS an
hour as required by the Fair
Labor Standards Act. AS a re-
suit, laundry prices may go up.
This was announced yester-
day by Wilmer H. BalderSon,
executive vice president Of the
Laundry-Dry Cleaning Associ-
alton of Greater Washington.
Prior to now" he explained,
public announcements have
led the public to believe that
the laundry business as a whole
was exempt from this law and
this is true in the majority of
cases around the Nation.
However. due to the geo.
graphical location of the Ma
TONS Capital, between Mary
land and Virginia, many of the
Washington area laundries are
required to operate under this
law"
The law required laundrieS
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25
% Per Cent Increase
Posted by Beacon Life

The Beacon Life Insurance
Co.. with offices throughout
Maryland, reports a % per cent
increase of insurance in force
during the first half of 1868.
More than $3.5 million of
coverage was added during that
period, raising the company's
total to $19,188,13O, Harry L.
Landay, president. said in
Baltimore.
A full line of health In
surance was added during the
six months, he said, while ad-
ditional lines to include re-
tirement and educational
policies are expected in the
near future.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25

through special taxation. II
passed by Congress, it Is ex-
pected only to last until our
balance Of payments situation
is on a sound basis.
Few practice what I call "ac-
ton" diversification. This is
more for the professional. He
may devote some of his funds
to fast-trading, volatile stocks
he knows are high but thinks
are headed even higher. And
some funds to depressed bar
gains not part of a current up
swing but thought to be cheap
and likely to show a safer
profit in the long run. Perhaps
he also will include some low
leaders of good quality he feels
could advance if the averages
do.
The lone wolf puts all his
eggs in one basket and watches
the basket. If he is very sure
of both the eggs and basket he
makes far more than the man
who diversified. If he drops the
basket all may be lost.
Peace of mind, If perhaps a
thinner pocketbook, is the re-
ward of spreading the risk.
Copyright, 1868. NANA)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25
Hot Shoppes Plans
First Jersey Facility

Hot Shoppes, Inc, has an
nounced plans to open its first
restaurant in New Jersey next
spring.
The new Hot Shoppes IA
cilities, an 1920 square-foot
cafeteria and a 5000 square,
foot sandwich shop, will be To-
Gated in the new Moorestown
Shopping Center on Route 3S
and Lenola road. The cafeteria,
seating $50 persons, will be To-
Gated next to a Wanamaker
store. The sandwich shop will
be at the other end of the
mall, next to a Gimbel's store
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25
Fairbanks Stops
Ex-Officers' Puy

NEW YORK (AP).-Fair-
banks Whitney Corp. informed
stockholders that it had stopped
all payments on four contro-
versial, long-term employment
contracts held by former Of
ficers.
In a letter to shareowners
George A. Strichman, chairman
and president, said the pay
ments weer halted July l by
vote Of the directors.
The contracts are held by
Alfons Landa, Robert c. Fink
elstein, David Karr and Aaron
L. Jacoby, all officers or direc-
tors at one time. The validity
of the contracts has been chal-
lenged in law suits by stock
holders.
Mr.. Strichman replaced Mr.
Karr as president of fairbanks
Whitney last November and in
February Mr.. Karr resigned as
chairman also. Mr.. Landa anc
Mr.. Finkelstein resigned from
the company in May, 1862. Mr.
Jacoby had been chairman Of
the executive committee and q
director.
Mr.. Strichman's letter sale
that a basis for settlement Of
the Landa and Finkelsteir
contracts was reached recently
and will be subject to court APP
proval. Each had contracts
calling for payment of $4,000
a year through 1869 when they
left the company, Mr.. Strich.
man said. The proposed set.
Element calls for payment o.
$4,000 to each.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25

I'VE are happy to have this
fine long-established firm join
our company" Gen. Olmsted
added.
1--WE are developing a mort
gage banking holding company
as a major activity of Finan-
cial General because it offers
an attractive opportunity for
growth and profit and can
perform useful services for the
parent company'S other activi-
ties in the banking. insurance
and financing fields"
Financial General said Off
GERS of National Mortgage
would serve under Gen. Ohm
Sted as chairman and Mr..
Schaaff as president.
Offices of National Mortgage
will be moved into the First
National Bank building at 170l
Pennsylvania avenue NV,
headquarters of the Financial
General Corp.
Eight of Financial Generals
affiliated banks are in North
ern Virginia. Others are scat
tered in several other States.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25
vEPCO Profit
Dips in July

A net income for July of
$3,207,000 based on operating
revenues of SIC, 469 900 was re-
ported yesterday by A. H. Nc
Dowell, jr., president Of the
Virginia Electric and Power Co
VEPCO said operating rev.
enues for the IL months ended
July 81 totaled $192,555,O00
with net income amounting to
39,355,0O0. For the same period
in 1852, operating revenues
were $181, 100000 and net in
come, $4,000, 900. In July, 1862,
operating revenues were $15,-
100000 and net income, So
100000.
The company added that per
share earnings on its common
stock for the IL months ad-
justed to reflect the stock split
of three shares for two, affected
April 26, amounted to $1.57
this year compared to $1.53
last year. This was based on
22,365,000 shares outstanding
on July 81 for both periods.
Mr.. Mcdowell said VEPCO
gained 27,30O customers during
the last II months, $4,000 cleo
trio and $500. gas. 1t now has
approximately 822,4OO custo-
mers for electricity and 10000
for gas.
The president said the COM
pany spent $45.7 million of its
1868 construction budget of $89
million during the first seven
months.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25
LATIN AMERICA LEADER
Mexico Admen Build
Own Madison Avenue

MEXICO CITY (AP).-Mex-
leo is the Madison Avenue of
Latin America. It leads all
Latin American nations in
money per capita spent on ad-
vertising.
The Banco Nacional de Mex
leo says advertising is big bust
ness, and that in 1862 bust
neSsmen spent is billion pesos
(S120 millionD or IL per cent
of the gross national product
on it.
This amounts to 81 per per-
son. surprising even Italy's SO.
On the United States it's sos,
Great Britain $3.50.
The Mexican product is SO
good, experts claim, that it's
even being exported. Televisior
commercials, for example, are
shown all over the hemisphere
Mexican advertising is boom
ing despite the fact some bust
nessmen still look on it as q
form of charity to help sup
port various media. When costs
must be cut, the ad budget is
one of the first to be slashed
But the attitude is changing
Despite the traditional
hat's-the-use feeling, adver-
Using is soaring with eight TOP
United States agencies operat-
ing in Mexico-more than in
any foreign country except
Great Britain and West Ger
many, experts claim.
A total of nearly 1870 agen-
cies - some very small - are
active. But of the top 10 that
handle 80 per cent of all the
business, seven are American
three are independent Mexican
firms.
Madison Avenue has sale
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25
Laundry Wage Raise
Nav Increase Prices

doing more than half of their
business across a State line to
pay the minimum wage. There1
fore, Washington laundries do
ing SO per cent or more of their
business in Maryland and Vir-
ginia come under the law.
Many of the 5000 laundry
workers in the Washington area
already earn $1.25 an hour or
more, Mr.. Balderson added.
IF we raise the minimum wage
employees to that level, those
receiving in excess Of the min
imum will reasonably expect to
be paid more"
Furthermore, in order to
compete in the labor market,
metropolitan laundries not af-
fected by the law will have to
comply, he said.
THE industry will absorb
these additional costs as much
as possible but part of the cost
will have to be passed on to
the public since go to IS cents
of ever sales dollar is spent by
the industry for wages"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25

and Joseph B. Schaaff, presi-
dents of the respective COM
panies, announced yesterday.
Gen. OlmSted said the newly
acquired company and Thomas
j. Fisher & Co., which was &C
quired by Financial General
last November, will form the
original subsidiaries of a new
mortgage banking holding COM
pany. This will be wholly owned
by Financial General and
known as the Financial Mort
gage Co.
National Mortgage and In
vestment Corp. was founded in
1920 and has carried on a
mortgage banking business
throughout the Washington
Metropolitan Area. Under the
new setup. it will be known as
the National Mortgage Corp.
The purchase price was said
to be sos a common share and
$40 per preferred share. Finan-
cial General has agreed to
make a similar offer to all
stockholders of National Mort
gage, which is listed On the
Philadelphia Baltimore Wash =
ington Stock Exchange.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-25
ARC Reports
S12 Million
Ju|y0rders

Atlantic Research Corp. an
nounced that it received more
than $12 million in new orders
in July, a new high for any
one month in the company's
history.
The previous high month
was in June of this year when
new orders totaled sos mil
lion. In July, 1862 there were
only $2.6 million in new orders.
The company added that
total orders received during the
first seven months of this year,
excluding unconsolidated sub
salaries, reached $40.8 million.
This compares with 1892 mil
lion in the first seven months
of 1862 and $l3.6 million in
1861.
July orders include SGT mil
lion in incremental funding by
the Air Force under a previ-
ously announced contract for
the Athena ballistic missile re-
search project, the company
said. They also included $2.4
million on a contract to de-
velop a large experimental
high-performance solid-propel-
liant rocket motor, including
production and delivery of two
lightweight prototypes to the
Air Force.
Work on the motor project
will be carried on at Atlantic
Researches Principal Labora-
tories near Alexandria and at
the company's Outer Banks
faculty at Corolla, N. C.
At the annual stockholders
meeting held on July 81, M.
Lee Rice, president, reported
operating revenue Of $780,
342,450 during the first six
months of this year and a
net profit of $8O7,318 after al
lowance for taxes.
In a statement mailed to
stockholders yesterday, tn e
company also reported earn
ings of 40 cents per share dur
ing that period on the
l,998,989 shares outstanding.