davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
United Services Life
Has % PET. Gain

United Services Life Insur-
ance Co. of Washington wrote
srecord e59,9Te ,9Bl Of new In.
surance In the first six months
Of this year, a gain Of % per
cent from $48,854,132 in the
same 1862 period, President
Lloyd M. Bauman reported to
stockholders.
Insurance in force also set
a new high Of $67l ,099,2ll on
June 30, q gain Of more than
$87 million from q year earlier.
Premium income Of $6,108, 886
in the first half was UP IL per
cent from a year earlier In
vestment income Of 1901 ,563
was II per cent higher.
United Services Life Is a
member Of the insurance group
Of Financial General Corp. 1t
is devoted exclusively 10 life
insurance for officers Of the
United states armed forces and
their families.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
Bank Loans Steady,
u. S. Bond Total Dips

Washington's three largest
banks held outstanding loans
about unchanged in the week
ended July "a, but their Fed
eral securities portfolio was re-
duced substantially during the
week, the Federal Reserve Bank
Of Richmond disclosed in its
weekly report.
Gross loans Of Riggs National
Bank, American Security &
Trust Co. and National Bank
of Washington totaled $685.
100000 on July "a, up slightly
from $7O4, 2S7 900 a week earlier
and well above 0,268,000 on
July Is. last year.
Holdings Of Federal obliga-
tions declined to 9412,413, 900
on July "a, compared with
$431 1854. 900 q week earlier and
were just about even with
$412,575,000 q year ago.
Deposits declined to 1885,
$4,000 from $1,385,574,000 a
week earlier, but remained well
ahead Of $i,253,t52,OOo q year
earlier,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
Bethlehem Steel
Promotes Cort
To Presidency

BETHLEHEM, Pa, (AP).-
Stewart s. Cort today was
named president Of the Bethle-
hem Steel Corp, Americas No
q steel producer.
The 81 year old Mr., Cort
succeeds Edmund F. Martin
who was moved UP to the newly
created post Of vice chairman
under Arthur B. Homer, board
c h q irm q n and Bethlehem's
chief executive officer.
Mr.. Homer said the appoint
ments - effective tomorrow =
"are a further reflection Of
Bethlehem's progressive policies
In broadening the scope Of the
company's executive leadership
(and) are designed to assure
our conpany's continuing ID
move forward in the challeng.
ing years which lie ahead"
Mr.. Martin, Beth lie h e m,
fourth president who succeeded
Mr.. Homer in that post three
years ago, is so. He Joined the
firm in 1922 following gradua-
ton from the Stevens Institute
Of Technology.
Mr.. Cort, now vice president
Of Bethlehem's Pacific Coast
Division, is a native Of Du-
quesne, Pa. His late father wal
a vice president from l947-57
in charge Of Bethlehem's steel
division.
Mr.. Cort Joined Bethlehem
in 1897 as q sales department
clerk. He has degrees from
Yale and Harvard.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31

VIC PCdh 4Ol 1000.
The company's gross 60-min-
ute iiitegrated peak demand
reached a new high mark of l.
100000 kilowatts on July 10, al
most is per cent higher than
the top mark last year.
Net income for three months
ended June 80 was $4,478,300, q
gain of per cent from $4,360,-
300 in the same 1862 quarter. II
was equal to % cents q share,
same as Q year earlier after
adjustment to reflect the a.
for-1 stock split In April.
Net income for IL months
ended June 80 amounted to
$19,743,500 or Sl.06 q share,
compared with $18, 1884, 500 or 81
a share in the preceding IL
months. Ne
Operating revenues In the
second quarter totaled $24,:
955, 800, an increase of 4 per
cent from $23.899,7Oo a year
earlier. Sales Of 293,548,O00
kilowatt-hours also were up 4
per cent from 1,245, 1876, 900 q
year ago.
Operating revenues for IL
months ended June 80 aggre-
gated $iO4,217, 200, an increase
of 5 per cent from S99, e95, 300
in the previous period. Sales
Of 5,551 100000 kilowatt-hours
were S per cent above 1884,
272,000 kilowatt-hours.
Gross additions to the COM
pany's property and plant in
the second quarter exceeded
SIS million and for the IL
months ended June 80 totaled
1927 million. Investment in
property and plant aggregated
$581.6 million on June 80.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
AMERICAN MOTORS REPORTS
FIRST SOC, 900 CAR YEAR

DETROIT tDJ)-For the first time American Mo-
tors Corp has built than 500 600 cars in model
year
Roy Abernethy, president said that before the COM
panys Wisconsin plants closed last Friday for
lions and model changeover, American Motors had
turned out sol S74 Rambler cars This includes United
states production Canadian output and foreign
bes In the previous year 476972 cars were produced
United States Rambler production was record
464126 surprising the previous high Of 45S841 In 1880
The 1869 total was 442346
American Motors said United States compact
production for the model year was d new high Of
2,761 900 units, against 2s49000 last year Rambler
maintained its position the top United states COM
pact car make with BS per cent Of the total the COM
pany said.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
lnfIationary Fears Revived
By Recent Price Advances

happened to steel last year"
said q bank economist. "Then
this year, they all caught up"
Another economist sees most
Of the rises as merely cyclical,
the kind Of firming up that
naturally comes when business
picks up.
Many business economists
sum up the price-level situa-
ton this way:
Competition, both foreign
and domestic, will make it hard
for producers to push their
prices very nigh very fast. Rises
will be "StuhhOrnly resisted"
says the National Association
Of Purchasing Agents.
The high level Of unemploy-
ment will discourage labor
unions from pushing their de-
mands too vigorously and Fore
ing prices up.
The administration, faced
with a continuing balance Of
payfnedtS problem, win con-
tinue TO discourage any gen
eral price increases.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
TeIetroy EIectronics
Files for Bankruptcy

television sets principally to
hotels and inotels.
The company was started.
according to the petition, In
1856, and during the last six
years has also done business
under the names Of Teletray
Eastern Corporation, at $50
Bonifant street, Silver Spring
Md; Teletray Eastern Com
pany, 8416 Georgia Avenue,
Silver Spring: Audio DynamicS
Corporation, Motel Vision
Corporation and the Tv Rental
Corporation Of America ct the
Third street address.
Mr.. Myerson, the petition
stated, as president drew SAL
$50 salary last year; the vice
president, Austin j. Sehweitzer
drew $19,s97 and Harry Val,
treasurer, drew S11,192.
The petition stated that no
formal arrangement had been
entered into with the various
creditors although saying that
some Of the creditors had
agreed to extend the time limit
on the debt the firm owes. The
petition added that the firm
had filed no prior bankruptcy
In addition to the assets and
debts listed In the petition, Mr..
Myerson pointed out that the
firm has substantial contingent
liabilities and certain intangi-
BILE assets such as trademarks
and patents. No estimates Of
these items are available.
All company payrolls and
payroll Withholding taxes have
been paid in full. he said.
The company has around g.
500 stockholders, a majority
living in the Washington area.
The initial meeting Of the
company's creditors has been
scheduled at 10 am, August
%, at the United States Dis
trict Court fIouse at Third
street and Constitution avenue
NV
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
Investments Increased
By Allied CopitoI

Current investments and
commitments of Allied Capital
Corp. now approximate ST.
$4,000, a gain of 1882 500 since
March 81 when the total stood
at $2.292,678, reported PreSi-
dent Harry A. Mcdonald at the
annual stockholders meeting
yesterday. .t.. ,-
Total income for the last
year was $162,038' and profit
before a nonrecurring expense
item of $26,421 amounted to
$60,l99. he said. The nonre-
curing. item was incurred In
registration of an additional
stock offering with the Sc.
curities and Exchange Com
mission, ....
The entire cost of the reg.
istration was written off as ar
expense in the last year
and the balance of earnings
amounting to S33,777 was
placed in a loss reserve, raising
the total reserves to $685.
on March 81.
AS a result Of increased in
vestments, a larger income and
some capital gains are expected
in the coming year, Mr.. Nc
Donald said. The company has
elected to qualify as q regulated
investment company TO gain
major tax benefits, he added
All directors we're reelected.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
Steel Waitinu
On New Clues
|. To 1853 Story
BY ROGER LANE
Associated Press News Writer

NEW YORK.-The Nations
steelmakers are In the situation
of a man who has just eaten
an unusually fine dinner and
now must pay the tab.
Spring quarter profits were
the latest for any three
months in years, but much OF
1.-THE business that produced
them represented buy ahead
ORDERS from customers who
feared a strike that never
came.
Now orders have slackened
and steel mills are Slowing to
little more than half speed
while customers use swollen
stockpiles.
Roger M. Blough, board
chairman of U. 8. Steel Corp.
said yesterday, we're not Took
ing for any major upsurge in
she fourth quarter"
Beside the inventory prob
lem, Mr.. Bloush blamed d
"muddling along" of economy
"a condition he said could be
remedied by q federal tax cut
Big Steel's Report
MI. Blough talked with news.
men after big steel" reported
second quarter earnings of
$7S.2 million - 1923 d share
- Its highest in three years.
The profits were nearly az
times the $29.9 million cleared
in the January-M period
and almost twice the $40.2 mil
lion or SO cents a share in
the 1862 second quarter. But
they were far below the record
high Of $14S,2 million in the
spring quarter Of 1859.
Several competitors did even
better than Mr.. Bloug h. s
company, although Bethlehem
Steel Corp. second-ranking
producer, Jared less well be-
cause its product mix isn't
favored by the booming auto
industry, a chief contributor
to the steel gains.
Jones & Laughlin Steel
Corp, National Steel Corp,
Youngstown Sheet, all among
the top eight firms in tonnage,
reported profits more than
triple those of the 1862 second
quarter when the industry was
entering one of its frequent
slumps.
Price Increases Helped
Mr.. Blough, echolng other
executives, said April price in
crcases on selected products
helped the good second quarter
showing only in a minor way.
He recalled that rising en-
ployment and other costs in
recent years far outstripped
gains from the markups. and
added:
1T certainly would indicate
that some sort Of price adjust
ment would be justified when
competitive conditions warrant
Iit. When that will be / just
don't know"
Before any further price in
cfeases could be seriously con-
sidered, demand for steel would
have to pick up, Mr.. Blough
intimated.
Mr.. Bl6ugh refused to be
drawn out on the outlook for
leB4-either as to steel or the
economy generally.
There are so many impon-
derables, guessing a little fam
tastic," he said.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
American National
Declares Dividend

Directors Of American Ma
tional Bank of Maryland today
authorized dividend payments
on a quarterly rather than
semi annual basis and declared
the first quarterly dividend of
20 cents a share, payable
August 9 to holders of record
August /.
President Warren H. LaSher
pointed cut the quarterly will
be paid on 217,25O shares now
outstanding. The last previous
dividend was q semi-annual
payment of 70 cents a share
paid February II on $4,000
shares then outstanding.
The bank voted d rs per cent
stock dividend last February
and sold an additional large
block Of stock to stockholders
in March.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
FoirchHd Strotos
Gets NASA Contract

Fairchild Stratos Corp,
which has headquarters in Ha-
gerstown, Nd, and facilities in
this area. has received a $78,-
600 contract to develop an
"electronics pegboard" for the
Marshall Space Flight Center
Of the National AeronauticS
and Space Administration.
The pegboard will be used
on the Saturn rockets instru-
rnent unit.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31

Teletray Electrenie Systems
Inc, q restaurant equipment
and Tv leasing firm, has filed
q voluntary petition for bank
ruptcy in the United States
District Court.
The petition, which was
signed by Edward j. Myerson
the firms president, listed
compafy's assets at $3.50. 606 and
debts at $729,O7S. The Mary
land corporation. with offices
in the 5400 block Of Third
street. NE, supplies automatic
customer ordering devices for
restaurants and also leases
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
Pennsy CurIoudinqs

PHILADELPHIA ODD. -
Pennsylvania Railroad car
loadinks last week Continued TO
run above a year ago rising TO
77,957 from 1871. an in
crease Of 81 per cent. This
trimmed the year-to-date de-
cline to Ia per cent. Year to
date loadings total 2,l79,599
against 2,2l0,45e a year earlier.
Last weeks loadings also
topped the 73.t43 Of the pre-
uous week this year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
EXCL Quizzes
Gen. Macarthur

PHILADELPHIA (AP). -
Stakeholder Louis D. Gilbert
Of New York City, q one-timt
army corporal, questioned Gen
of the Armies Douglas Mac
Arthur yesterday before 1000
other stockholders and guest:
at the annual meeting Of
Sperry Rand Corp.
Mr.. Gilbert first expressed
dissatisfaction over the ap-
pearance Of reports Of the earn
ings in some newspapers. How
did Gen. Macarthur, as chair.
man of the board, feel about
that?
1.-THE transmission Of news Is
not under our control" Gen
Macarthur said, newspaper
do what they want to do"
Mr.. Gilbert then asked Gen
Macarthur about directors
meeting-how many are held g
year, how many men attend
them, how much do they col
lect in feesP
ITS our policy to hold
directors meeting a month,
Macarthur said. Last year We
had ten, with perfect At
tendance at each, PITTS a hum
Der Of executive committee
meetings"
Some directors are paid
$4,000 q year, others get
nothing when they are part Of
the company"
It wasn't the first time the
two had clashed verbally. Mr..
Gilbert once asked the five
star general what Ne did with
his money.
ITS neither your business
nor anyone else's," was Gen.
Macarthur retort then,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
SReroton-Pork Boasts
Kosher Kitchen

Sheraton-Park Hotel has at
tracted Nationwide attention
with its unusual Kosher Kitchen
The Hotel Motor Hotel
Monthly magazine has a de-
scription Of the new feature in
its current issue and reports
that such facilities in Ameri-
can hotels are a rarity.
The kitchen was established
after a convention of the Or
thodox Jewish Congregations OF
America and every detail was
authorized by the Rabbihical
Council OF Greater Washington,
the magazine says. The kitchen
is behind a locked and sealed
door" and can be opened only
by an authorized rabbi In a
ritual which will be repeated
every time the kitchen Is used"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
BY DARDEN CHAMBLISS
Associated Press Business News Writer

hSSOSAaVSu EAVhc DusAhOsS NCNo Wilset
NEW YoRK.-New govern
ment statistics invite fears that
initiation may be straining at
the leash again.
Businessmen seem agreed
that 1t probably won't get loose.
But they concede there has
been more price raising In re-
cent months than there has
been In q long time.
The Government cost of liv-
ing index for June took its big
gest squirt in months, reaching
q record high If 1865 per cent.
This specific figure, strongly
influenced by an unusual in
crease in sugar prices. can't be
taken too seriously by itself.
But businessmen are studying
the index for what it reveals
about the overall pattern.
Buyers Market
For years that pattern has
been deflationary, many bust
nesSrnen say. There has been
q buyers market, with stiff
price competition. since about
1858.
During this period, whole
sale price indexes slipped down.
ward and retail averages held
about steady. The cost-of -liv-
ing index inChed upward, but
this was almost exclusively be-
cause Of higher charges for
services thaircutS UP IL per
cent, hospital care up 80 per
cent, etc., shelter and taxes.
Food prices have been almost
steady for several years.
Real estate prices kept ris-
ing longer. partly because of
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
D. c. Group Plans
Baltimore Project

A group Of Washington bust
nessmen headed by Norman
1Sinklestein and irwin g. Rosen
announced plans for construc-
ton of a 138-unit apartment
building at Elade avenue and
Military read in the Baltimore
area.
The project will occpy q
thfee-acre Site within q mile
of the Reisterstown Road
Shopping Plaza and will be
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
Hemingway, Noviek
Plan Mercer

Hemingway Transport, Inc,
of New Bedford, Mass, and
Novick Transfer Co. Of Win
chester. Va, announced an
agreement TO merge the two
companies, subject to approval
Of the Interstate Commerce
Commission. t.s
Hemingway has gress reve-
nues Of around $24 million an
nually and Novick Transfer has
a volume Of around $6.5 mil
lion. Both firms have served
the washington area for many
years.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
Proposes Split

NEW YORK (DJ). - First
Western Financial Corp. direc-
tors recommended a 2-for-l
split of the outstanding com
mon stock.
The proposal is subject to
approval Of stockholders at the
annual meeting September II
in Las Vegas.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
Virginia Insurance
Firms Consolidated

Robert d. Graham, Inc, anc
Walker 81 King, well known in
surance agencies of Northern
Virginia, have consolidated un-
der the name Of the former.
Robert D. Graham Will con-
,tinue as president Of the firm
and George A. Hamill, secre-
tary Of the firm. viii head the
insurance department.
Other officers include: John
L. Draper, vice president, and
Bennett w. King, treasurer. Mr.
King will manage the real es-
tate department.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
Pepco Production
Sets New Record,
Sales, Net Ahead
BY DONALD b. HADLEY
star Financial Editor

Potomac Electric Power Co. set production records
during July earnings continued moderately
ahead Of In the second quarter the company re-
ported today
PEPCos net system output for reached
klowatt hours July Jump of almost 13 per cent from
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31
Equipment Speeds
Credit Bureau Work

The Credit Bureau was able
TO read 40 per cent more files
to its customers than a year
ago in July as result of addi-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31

property taxes, but by last year
they, too, had about flattened
out.
This stability had Some bad
sides. Businessmen complained
of a profit squeeze. Unemploy-
ment grew. A host of items
lead, zinc, aluminium, sugar,
cocoa, plastic resins-sank to
near-record lows.
In that climate, U. s. Steel
tried unsuccessfully to boost its
prices, bringing the historic
clash with President Kennedy
in the spring of 1862.
This spring. the steel indus=
try tried again but on a smaller
scale. This time it worked.
Shortly afterward, aluminium
producers gingerly raised some
prices. Some brass and copper
makers followed suit. Then
came more aluminium boosts.
Next came rises in some elec-
trical and electronic compo-
nents, wood products, petro-
leum products, auto tires, boxes
and plastics ingredients. In
creaseS were announced for fall
clothing. Furniture boosts were
predicted.
At about the same time,
sugar prices zoomed from near
record depths to near-record
heights. Tin and cocoa prices
also climbed.
Economists SkepticaI
Some see a new inflationary
climate emerging from these
developments. Many ecouo-
mists say this is illusionary
however.
"It's certainly a lot easier
to raise prices now than 1t
was" said one. "but this is not
any trend. At best, it's a very
moderate drift"
The sugar and cocoa rises
these economists say, are highl,
individual things, having littl'
to do with the general econ
ony. And both, especially
sugar, appear to be headeC
downward again.
Some other rises may have
been clustered unnaturally be.
cause Of the steel industry ex.
periences.
Some people probably held
off on increases after what
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-31

tional equipment, Secretary
John K. AithAus reported today.
Installation of 20 super
elevator files that bring rec
ords to bureau operators fin
gertips within seconds has been
a major factor In the increased
efficiency, Mr.. Althaus said.
The chronicle., 1963-12-18
Peters Takes
ERA Crown

BOSTON (UPD-Gary Peters
a 26-year-old left-hander who
had failed in three previous
tries with the Chicago White
Sox, today officially became
the first rookie since 1851 to
lead the American League in
earned run average.
Official figures compiled by
the Howe News Bureau dis
close the 6-6foot, Finch, 200
pound speedballer posted a 2.33
to edge out teammate
Juan Pizarro's 2.39 ERA. Ca.
milo Pascual of the Minnesota
Twins was third with 2.47 and
Jim Bouton of the New York
Yankees was fourth with 2.53.
No rookie has won the AL
ERA title since Saul Rogovin,
also of the White SoX, won ii
in 1851.
Peters, who had a 1913 rec
ord this season, had trials with
the White Sox in 1859, 1861 and
1862 but couldn't win a single
game. He didn't win his first
The chronicle., 1963-12-18

ed by friction on the surface.
Restoring this energy or reduc-
ing the friction with improved
design means greater speeds
and more weight-carrying poten-
tial.
Experimental design changes
at States Raspet Flight Re-
search Center are plotted by
Yamaoka to determine level OF
improvement.
Millions of tiny holes in the
wings of the Marvelette, high.
speed experimental airplane Of
the department, are incorporat.
ed to suck away low-energy air
and replace it with high energy
air from the unaffected a I
flow. Yamaoka's physics talents
are used to help determine the
precise effects of this revolution.
airy control technique from ae-
rial experiments.
Following his tenure at MSU
he plans to return to the Uni.
verSity of Hiroshima, earn his
Phi. D., and relieve the frustra.
tons, perhaps, of some table
tennis enthusiasts in the South.
east.
The chronicle., 1963-12-18
Miro And TruII
Take Coveted
Championship

NEW YORK CUPID - Navy
quarterback Roger Staubach
has all the headlines, but
George Mira and Don Trull
have two of the most coveted
individual championships in col
lege football.
Mira wound up the season as
the leader in total offenSe
thanks to his 324-yard perform
ance last weekend in Miami's
17-12 loss to Alabama, the final
NCAA Service Bureau statistics
disclosed today.
The Miami quarterback, who
has signed with the San Fran
cisco Forty Miners, totaled 2,31S
yards in 10 games. Trull, of
Baylor, was second with 2,276
yards. Jerry Rhome Of Tulsa
was third with 1876 and Stau-
bach was fourth with 1892. Ter
~ Isaacston of Air Force COM
pleted the top five with 1,747.
Trull, who leads Baylor
against LSU in the Bluebonnet
Bowl Saturday, was the ma
TONS leading passer, edging
Mira by a Scant two yards and
two more competitions.
Trull completed TIA Of 3OS for
2,157 yards and Mira completed
172 of 335 for 2,155 yards.
Rhome was third with $50 OF
258 for 1909 yards.