davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
Two Major Steel Firms
ReoIign Management

John W. Todd, jr., will direct
heavy, tubular, allow and rail-
road products. Kenneth L.
Vore's current traffic and trans
portation responsibilities will be
broadened in the consolidation.
Ar. Wallace, named to his
present post in 1860, started
with United States Steel as an
assistant chemist in 1923, He is
a native Of Pittsburgh.
At National Steel, Paul H.
Carnahan, SO, moved up from
president to vice chairman Of
the board Of directors and was
elected chairman of the Execu-
tive Committee. He succeeded
George M. Humphrey, 70, as
committee chairman.
George A. Stinson, 48, ad-
vanced from vice president to
president Of National, the fifth
ranked steel producer.
Thomas E. MillSop continued
as chairman and chief execu-
tive officer.
Charles G. Tourney and Al
bert ]. Berdis were elected
directors, expanding the board
from IL to Is members. They
also were elected to the Execu-
tive Committee.
A new service center division
was started to expand Nation
ais participation in the field Of
steel distribution. At present,
National has only one ware
house for distribution. It's at
Houston, Tex.
The accent was on youth in
the executive promotions.
Mr.. Humphrey said, We're
trying to put a heavier burden
on young shoulders. We're
trying to put more responsible
ties and more initiative on our
younger men,"
Mr.. Humphrey said Nationals
capital investments in 1864 will
probably double those of 1868.
The firm spent an estimated $40
million this year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
D. c. Banks Stay on SideIines
In Corporate Deposit Rift

continued to lag slightly behind
a year ago.
Largest single project in the
additional appropriations was
$500, 900 for central office dial
equipment in the Congress
Heights dial center to accom-
modate 2,45O additional custom
er lines.
Also included were funds for
nearly 2 miles of outside cable
from the WoOdley dial center to
Connecticut avenue and Lega-
ton street NV.
The company has added so
million to its plant investment
in the last IL months. Total
investment stood at $233 ,466, 900
on November 80. At the end of
November there were FOL, 755
telephones on the company's
District lines, a gain of 24,S45
from the same 1862 date.
Net income for November
was $627, 900, compared with
STU, 900 in November last year.
Net for Il months ended No
vember 80 was So, 1876, 900 VS.. 3d.
$4,000 in the preceding II
months.
November operating revenues
amounted to $7,229.OOO VS.. S.
SOC, 900 in November last year.
Eleven months revenues aggre-
gated $50, 100000 VS.. ST., 900, 900
in the previous II months,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27

PITTSBURGH apt W O
major steel companies an
nounced top management reor-
CARNATIONS today.
At United States Steel Henry
j. Wallace becomes vice presi-
dent to direct product Strate-
gy."
Mr.. Wallace, now president Of
United States Steel's National
Tube Division, will take over
his new post the first Of the
year when National Tube will
be absorbed into the corporation
in an overall consolidation.
Mr.. Wallace will plan and
oversee activities to insure
United States Steel products
meet market and customer
requirements. At the same
time, the corporation said three
vice presidents will report to
Mr.. Wallace.
Edward A. Murray will be in
charge Of light products and
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
Area Store Sales
7 Pct. Above 1862

Department store sales in the
Washington Metropolitan Area
were z per cent above a year
ago in the week ended Deem
Der 81 and also were 5 per cent
ahead of the previous week, the
Federal Reserve Bank of Rich
mond reported today.
AS Christmas buying gathered
speed after the period Of
mourning resulting from the
Presidents assassination, area
sales in four weeks ended De-
cember 81 were only per cent
behind a year ago. Sales for the
year to date were up 4 per cent,
The downtown portion Of the
area sales total was 5 per cent
above a year ago in the latest
week and also was 9 per cent
ahead Of the preceding week.
Four weeks downtown sales
still were S per cent behind a
year ago and for the year to
date equaled 1862 marks.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
ON WHEELS
Where Are Vows
Of Yesteryeor?

Loudest noise from the auto
mobile world in 1868 undoubted-
ly was the crumbling of the
industry's once-avowed plan to
remain aloof from official par
ticipation in comptive events.
With Ford, it wasn't "crum-
bling" 1t was, with great sue
cess, total disappearance, be-
ginning with the Monte Carlo
Rally and three Falcon Spirits
last January and rising to the
100, OO0mile run of the Dayton
Comet Calientes at an average
speed of over 100 miles an hour.
Now, with 1868 still with us
fleetingly, Chrysler has an
nounced it will have three 1864
Valiant V-S cars in the Monte
Carlo Rally. Ford will send six
Sprints back to Monaco for the
rugged test.
That leaves only two of the
Big Four auto-makers left-and
how long they stay left seems
only a matter of time. General
Motors repeatedly, but softly,
has said it is not in the racing
business.
American Motors mentions it
only aghaSt.
Graham Hill, 1862 world driv-
ing champion, will head the
Falcon Sprint team at Monte
Carlo. Scott Harvey, Chrysler
engineer who won the 1868 point
championship of the Sports Car
Club of America, will captain
the Valiant team.
Until the Falcons appeared
at Monte Carlo last January,
the event had been almost
Solldly-Eurpean. Reaction OF
the European manufacturers to
appearance Of the big V-8 en-
gines in the run for MANAGE
January 1922, plus reaction of
General Motors, should pose
one the coming year.
=
Gliding along smoothly in the
temporary turbulence caused by
Studebaker's move to Canadian
production, MERGED e s-Benz,
which could count only So cars
on the American scene 10 years
ago, now has over $4,000 on the
highways.
Mercedes-Benz Sales, Inc, Is
a subsidiary of Studebaker, but
is in no way effected by the
move from South Bend to Ham.
ilton, Ont.
Plans to take two new super.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
DeImar Shares
In State Loan
Being Offered

State Loan & Fianance Corp.
has registered with the SEC a
secondary offering of 100000
outstanding shares of class A
common stock. The public offer
ing is to be made through an
underwriting group headed by
Johnston Lemon & Co. and
Eastman Dillon Union Securi-
ties & Co.
State Loan & Finance, based
here, is a holding company
W hich through subsidiaries
operated 533 consumer finance
loan offices in 80 states and in
Ontario.
The selling stockholders are
Riggs National Bank and ELL
Sworth C. Alvord, executors of
the estate of the late Charles
Delmar, who was vice chair
man Of the State Loan & FL
nance board at the time of his
death in August. After the sale
of the 800, 900 shares, the estate
will continue to own 1855 class
A shares.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27

Business Loans by member
banks in the week ended De
cember Is totaled $38,OlS, OOO,-
600, up $537 million from the
previous week and DIP 81 1888, OOO,-
600 from the like week a year
agO.-Federal Reserve Board.
Electric Power Production in
the week ended December q
totaled $19,814,OOO,OOO kilowatt
hours compared with 1898, OOO,-
900 in the previous week and
was 1878 per cent above the like
week a year ago.-Edison Elec-
trio Institute.
Steel Imports in October ad-
vanced about II per cent and
for the first 10 months Of this
year exceed the total for all Of
last year. The total was $4,000
tons in October VS.. 1900 in
September. For 10 months the
figure was as million tons VS..
al million for 1962.-Commerce
Department.
United States AirlineS, trunk
and all-cargO, flew 55.4 million
ton miles of freight in Novem-
Der, up 81 per cent from a year
ago.-Air Transport AsSocia-
ton.
Readers Digest Assoc. Inc. re-
ceived Federal Trade Commits
sion approval Of a consent order
barring certain deceptive prac-
tees in selling magazines, books
or other merchandise and in col
Letting subscription payments
Dow Jones.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
By CHARLES YARBRoUeH

luxury Mercedes on a 22-city
tour have been announced.
Enthusiastic reception accorded
the two ultra-priced ($23, 900 and
100000 cars in Washington and
New York prompted the move,
according to L. A. Fleener,
president of the corporation.
50 -
American Motors has an
nounced it will build RambIers
in Chile, beginning early next
year. The Chilean plant in Ari.
ca, which will start initially
with a 2,OO0car production
capacity, is the fifth Rambler
plant in Latin America. The
others are in Argentina, Mexi-
co, Venezuela and Uruguay.
Detroit firms are "inching
themselves out of the compact
car Market" says Vincent
GrOb, president of RenauIt, Inc.
''We see indications that
Detroit's Steam-Shovel strategy
Of automobile marketing may
attempt to scoop up another
stratum of the United States car
market and haul it off to high
er-price ground"
He added that eff Detroit
makes a new pass at the econo-
my market, it will stimulate
rather than stunt the growth Of
import sales"
Taking a happy outlook for
1864:
eff Detroit introduces its
version of economy vehicles in
the $1,000 price range, import
sales could reach 500, OOO."
Only sad people having any
thing whatever to do with auto
mobiles are the planners who
didn't get that new traffic sig.
nal up on the approaches to
Seven Corners on Limited Prog
ress highway in time to add to
the Yuletide glitter.
Or is the word "clutter?"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27

national bank, as a savings
deposit.
"UnleSs such a deposit comes
within the definition of a time
deposit it would constitute a
demand deposit under Regula-
ton @ and payment of interest
on such deposit by a national
bank would violate the prohibi-
ton of the law against payment
of interest on demand deposits.
Directors Held Liable
Failure of a national bank to
comply with provisions Of the
Federal Reserve Act constitutes
grounds for instituting legal
proceedings to close the bank.
"The law also provides that a
director Of a national bank
participating in or asserting to
a violation shall be personally
liable for any damages that may
be sustained by the bank, its
shareholders, or any other
persons in consequence of the
violation" the Feds" state
ment continued
There was no sign what
course would be followed by the
F ederal Deposit Insurance
Corp, which supervises insured
State banks that are not men,
bers of the Federal Reserve
System. Mr.. Saxon is acting
chairman Of the three-man
FDIC board and one seat on
the board is vacant.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
GOLD OUTFLOW
AT $40 MILLION
IN ONE WEEK

NEW YORK (DJ.-The
Treasury's monetary gold
reserves fell $40 million in
the week ended Wednesday,
the New York Federal Re-
serve Bank reported.
That made the years de-
cline to date $465 million
and left the gold stock
Wednesday at $15,51S,OOO,-
900.
1t was the first outflow Of
gold in 10 weeks.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
Aurora Acquisition

CHICAGO (DD.-Aurora
Corp. of Illinois has entered the
petroleum industry through the
acquisition of an interest in oil
and gas wells at a cost Of ap.
proximately $2.4 million, Ear
L. Combest, chairman, and
Charles S. Leonard, president,
announced. The sellers weren't
disclosed.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
Earnings

Va. Elec & Pwr. In year
ended November 80 earned $780,
7O7, 900 or $1.58 share VS.. $685.
$1,000 or $1.56 in 1862.
Union Pacific R.R. in II
months ended November 80
earned $77,O71,233 or 1927 a
share VS.. $75,7l3,822 or 1921 in
1862 period.
Bendix Corp. in year ended
September 80 earned $50, 199, 67S
or $4.09 a share VS.. $50, 545, 524
or 81. 16 in 1862.
Kelsey-HayeS in 8 months
ended November 80 earned ST.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
First Dividend Voted
By Levitt Board

Directors Of Levitt & Sons,
Inc, have declared a dividend
of 1914 cents a share, first
payment since the firms public
stock offering in February, 1860,
it was announced by President
William ]. Levitt.
The dividend will be paid
February l to holders Of record
at the close January Is.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27


so later, since there is an excel
lent chance that the rate slash
will be increased to So per cent
in March. That would represent
a very worthwhile feed cost
saving, since transportation is a
big element in grain prices.
A vice president Of Southern
Railway, Frank Steele of Val
doSta, said he believes an addi-
tional 10 per cent rate cut will
be effective next spring after a
decision in an Ohio court where
the reduction is in litigation.
Southern Railway pioneered
the use Of big grain cars, credit
ed partly for the lowered prices.
The Route Used
The Western grain has been
brought down the Tennessee
River in barges and hauled into
the South in trucks. It demand
ed a high price-So high that its
use on feeder lots was almost
prohibitive.
With the rail rate cut, cattle
men are optimistic about all
phases of the industry.
Four new feeder lots have
opened in Florida in six months,
reports Art Higbie Of KiSsim-
NEE, executive vice president Of
that States Cattlemen's Asso-
citation.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
Washington Gas
Declares Dividends

Derictors Of Washington Gas
Light Co. have declared the
usual quarterly dividends on
four classes Of serial preferred
stock and the common stock.
hTe dividends included $1.O6A
a share on the $4.25 series,
$1.25 a share on the S. series,
$1.15 a share on the $3.50 con-
vertible series, and $1.2O a
share on the $3.50 series pre-
ferred.
Directors voted a quarterly Of
IS cents a share on common
stock. All dividends were de-
clared payable February l to
stockholders Of record at the
cloSe January 10.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
C&P Scheduling
$50 Million Outlay

Directors Of the Chesapeake &
Potomac Telephone Co. allocat-
ed $5,25O,OOO for expansion and
Improvements in the District of
Columbia at their regular board
meeting yesterday.
They also heard reports that
earnings for November and IL
months ended November 80
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
By DONALD B. HADLEY
Star Financial Editor

District banks will stay the sdeines in the latest differ
between the Controller of the Currency and the Federal
Reserve Board whether savings deposits corporations
be accepted by the banks.
The Federal Reserve Boards refusal to lift its ban
corporate savings accounts will apply to IL of the Districts
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
FuVors Bank Meroer

Merger of Traders Bank &
Trust Co., Hazleton, Pa, and
Northeastern Pennsylvania Ma
tional Bank & Trust Co., Scran-
ton, has been approved today
by controller of the currency
James j. Saxon.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27


IA banks, but the three inStitu-
tons who are not reserve mem
bers have no intention of taking
advantage of the situation.
In fact, they indicated today
that even if the dispute between
the regulatory authorities finally
is resolved in favor Of corporate
savings accounts, they doubt
that their institutions would
want to accept such accounts.
SIT is just my opinion, but !
don't see how we could take
corporate savings and come out
even," said a top official of one
nonmember bank.
Authority Questioned
A number Of prominent bank
ers said they couldn't under
stand why Controller Saxon felt
he had authority to approve the
banks acceptance Of corporate
savings.
They pointed to the Federal
Reserve Boards statement that
national banks are subject to
the Federal Reserve Act. The
board ruled that violation Of the
act constitutes grounds for
instituting legal proceedings to
close a bank.
Since 1886, banks have not
accepted savings accounts from
corporations. They have been
accepting only demand deposits
Checking accOuntS).
In his earlier ruling Mr.. Sax
on said he saw nothing in the
law to prohibit a bank from
accepting corporate S aving S
accounts. In discussing the
ruling, the Reserve Board COM
mented:
Regulation @ Cited
Gas members Of the Federal
Reserve System, national banks
are subject to provisions Of
Section 10 of the Federal Res
erve Act, which prohibit men,
Der banks from paying interest,
directly or indirectly, on any
demand deposit and which
require the Board Of Governors
Preserve Board to limit the
rate Of interest that may be
paid by such banks on time and
savings deposits.
The statement added: "The
boards Regulation @ defines a
savings deposit in a manner
that permits such deposits to be
made only by individuals or by
corporations, associations and
other organizations which are
not operated for profit, but for
religious, philanthropic, charita-
BILE, educational, fraternal or
similar purposes. This definition
has been in effect since 1896.
Accordingly, a deposit by a
corporation operated for profit
may not be classified by any
member bank, including a
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27
Grain Freight Cuts
Are Spur to Cattle
Industry in Dixie
By VIRGINIA CULPEPPER

VALD0STA Ga.-Lowered rail freight rates grain may
be the wedge opening almost untouched economic resource
in the Southeast
The cattle industry is being awakened result Of sub
stana reduction in freight rates and other feedstu
grains.
Georgia and other Southern States have not been able to
cnmneie with the Midwest in
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27

grain-growing, although some
especially Georgia-are steadily
raising their yields.
Because of the lack Of grain,
most cattlemen have sold their
animals to feedlot men Of the
Middle West. There the animals
are fattened and shipped back
as Kansas City steaks, COM
handing a top price.
With the reduced rail rates,
Georgians soon may be eating
their own beef, bred and fed in
the same State.
Potential Cited
Joe Robertson of Athens, ex-
ecutive vice president of the
Georgia Livestock Association,
says the Southeast represents
the most dynamic potential
growth area of the entire United
States livestock industry. 1t is,
he says, one Of the few areas
that could expand to feed the
growing population.
The cattle industry in the
South, Mr.. Robertson went on,
is waking up to the fact that
money can be made by keeping
the animals at home and feed
ing them out.
With a So per cent freight
rate reduction on grain now in
force, this opportunity is eSpe-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-27

close January 10.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-01-20

K Strengthen youngsters at home.
Perhaps the most important weaP-
on is in the parents hands. Most
sniifers are bored, lonely, unhappy
children. Experts point out that a
yOungster who is loved, respected and
accepted for what he is, is least likely
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-01-20

lures so as to make them harmless or
undesirable to the snifers."
Il Teach chiIdren about risLs.
Following the plastic-bag tragedy,
MiddIetOwn Township, N. j., launched
a program which other communities
with an acute problem might copy.
ALI pupils in the 9th through 18th
grades attended talks given by a
POlice-psychOlOgist team. Township
Administrator Richard w. SeufFert
says the program aims at getting
across the message Of the immaturity
Of such actions which resulted in the
needless loss Of life"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-01-20
scI.OOIers : are intGIing danger

major headache with the craze. Last
June, the Legislature made glue-sniff-
ing q misdemeanOr punishable by a
S. to SIS fine for the first ofFense and
$40 to $50 thereafter. ''Since the law
was passed, Captain Carroll declares,
shifting has dropped dramatically"
X Make harmless glue.
Senator DOdd told me he is now
considering a conference Of manu-
facturers of the glue and its chemicals
to discuss what can be done. ri can't
believe" he says, THAT modern sci
ence could not, with some effort,
alter the formula for these glue mix.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-01-20

to look for the kind Of kicks" glue
shifting offers.
AcnON ON these FIVE fronts can end
the glue-sniHing danger. But unless
parents act quickly, many more trag-
edies are in sight. -TME ENU
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-01-20
Best of all ontacids tested!

The following statement is the result of
is months of clinical research con-
Quoted at one Of Americas leading uni
versities.
New formula TUGs were tested. on
hyperacid patients, with nine Othermed-
ically approved antacids - including
pOIl-type and prescriptiOn-type antacids
The findings proved TUMs led all
other antacids in this important comb
nation: UD Speed Of relief. (2) Long
lasting relief, 90 Safe relief without un-
pleasant side effects. az Economy"
New Improved TUMs are now on your
retailers shelves in the same familiar
packages :. handy rolls and bottles too
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-01-20
Better th0N eUer relief!

New Improved TUMs bring better FAST effective long
lasting relief from acid Indigestion heartburn and gas Modern
TUAds exclusive formula with scientific bueng action promptly
neuazes acids and soohe the stomach by gently
ing the stomach lining And TUMs safe
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-01-20
NEW IMPROVED TUMS!
Better thOn eUer taste !

New Improved TUMs let you enjoy
really good flavor and get great acid
indigestion relief at the same time!
Modern TUMs taste SO delightfully."-
minty = cool and crisp, and there's
never trace of unpleasant after-taste.
The Farmville herald. (Farmville, Va.) 1957-current, 1963-10-11

pastor
Mrs. Herbert Anderson enter
ed Johnston Willis Hospital Mon
day for examination and posi-
Bile surgery. Friends are hoping
she may return improved in
health
Mr.. and Mrs. Algie Martin
and Mr. ard Mrs. Leonard To-
ney were business visitor to
Dmwiddie Saturday.
Mr.. and Mrs. Ernest Anderson
and Ashley visited Mr.. and Mrs.
John Moss, Mr.. and Mrs. Chris
tan Carter and little daughter
at Gladstone Saturday.
Mayo Stinson. of Richmond,
and Buck Stinson. Of Scottsville,
visited the Davis home Sunday.
Mr.. and Mrs. Richard Shu-
maker were Sunday guests of
Mr. and Mrs. David Erwin in
Cumberland.
Friends were glad to see
Leonard Toney at church Sun
day. He has been very i'll, but
is much better.
Visitors Of Nh. and Mrs. c. w.
Cave last week included Mrs.
blanche Mahon, f. B. Mahon,
Jr.. Mrs John Davidson, Mrs.
Oral Bickford. Mrs. Willie Pat
| terson and Miss jamie Patterson
c. w. Cave was a business
visitor to Louisa last Friday.
Mr.. and Mrs. Edward Yancey
and family and Mi. and Mrs.
Joe Yancey spent Saturday in
Arlington.
At Football Game
David and Ricky B ickf or d
spent last Friday night with
their cousin, Mrs. Glare enc e
Thomas, in DillWyn and attend
cd the football game i'll Farm
vile between Buckingham Cen
trail and Prince Edward Acade-
my
\ Mrs. Richard Bryant and Mrs.
Leroy Jones were business vii
tors to Richmond Tuesday.
Jerry Ownby, Of Trents Mill,
The Farmville herald. (Farmville, Va.) 1957-current, 1963-10-11
Beautiful Weather
Brings Visitors
To Belona

BELONA, Oct. 10 - October
is a lovely month and the trees
are very beautiful. The birds
sing as if spring had returned
The weather is very comfort
able.
Miss Barbara Leighers anc
, her girl friend Of Richmond
spent the week end with Mrs
Beulah Walthall and family. Or
Sunday Mr.. and Mrs. Chester
Childress. also Of Richmond
visited in the same home.
Mr.. and Mrs. Arthur Webb
and daughter, F4orine, went tC
Farmville on Saturday. T h e y
spent the day there.
On Tuesday the PoWhatan Cir
Gle of Providence Church met
with Mrs. John Nuckols. The at
tendance was good and the meet
ing enjoyed BY all present.
Mr.. and Mrs. Herbert Kruger
were pleased to have his brother
and wife, and friend visit
them last week. They we're from
New Hampshire. They have re-
turned home. now.
Mrs. S. NJ. Rich, of Richmond