davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-26
OUR RELIGIONS
Greater Freedom
Seen for Bishops
By CARLYLE ADAMS

R0ME-0ne Of the important developments expect
ed to out Of the Second Vatican Council larger degree
Of responsibility within each individual diocese in the world
The talk here is not much that local bishops will WELD
great deal power than they have in the past but that
something like what is going in Rome will begin to be
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-26
Four Changes in-Stuff
Announcedin Area

Staff changes at several
Washington area churches were
announced today.
The Rev. Robert N. Meyers
will be installed as assistant
pastor of the Vienna (Va.) Pres.
byterian Church at 4 pm. to-
morrow in the church.
The Rev. Alexander MacEe
of Philadelphia will give the
sermon. The installation is un.
der the auspices of the Wash.
ington City Presbytery.
A native Of Ashland, Wis, Mr.
Meyers is a graduate of Wiscon.
sin State College, 1852, and the
San Francisco Presbyterian
Theological Seminary, 1857. He
was ordained in 1860 and since
then has been serving as aSSo.
ciate pastor of the Tully Me.
mortal Presbyterian Chur C b,
Sharon Hill, Pa. He is married.
Adventist Appointment
Charles D. Brooks of CIeve.
land will become associate sec.
r etary Of stewardship anC
church development of the Co
| u m b a Union Conference Of
S e We n t h-day Adventists mex
Friday. The S3-year-Old native
of Greensboro, N. c., is the first
Negro to serve on the Columbis
Union Conference staff since
separate conferences for Negro
members was organized in 1916
Mr.. Brooks, a graduate o.
lakewood College in 1851, come:
here after serving the Chenille
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-26
:vensong in Arlington

Charles Crowder, pianist; Ear
nest Harrison, oboist, and Mrs.
Phyllis Harrison, organist, will
perform at S pm. tomorrow in
an evensong in Walker Chapel
Methodist Church, 41O2 North
Glebe road, Arlington.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04
Cash, Securities
Paid in Huupt
Liquidation

NEW YORK (DD.-G. Keith
Funston, president Of the New
York Stock Exchange, an
nounced that some securities
customers of Ira Haupt & Co.
had already received cash and
securities under a liquidation
plan announced by the exchange
November Is.
Cash credit balances of over
81, $50, 900 have been paid to Sc
curities customers to date, Mr..
Funston said in the exchanges
first progress report on the
liquidation plan. In addition, he
said, a number of fully paid
securities have been delivered
to customers and some margin
accounts of securities customers
have been transferred to other
broker-dealers.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04
BILL ATTACKED
Dealings in Securities
ByBonksHitosIUnfoir'

free to return to the securities
business in this manner but Ia
do this under an exemption
from the Federal securities
laws"
Mr.. Anderson, also president
of Distributors Group Inc, a
group of mutual funds, said it
would give the banks "an unfair
and improper competitive posi-
ton"
He added that questions
could surely be raised as to
preSsures on banks to make in
loans to companies
whose securities are held in the
bank collective fund portfolio. ;"
Mr.. Anderson said mutual
fund redemptions appear to be
heading for a record SIS billion
this year.
The mutual fund business has
been going through an unusual
testing period, due to the great
stock market plunge of spring
1862 and criticism Of the indus
try, he said.
In contrast with net purchases
of more than 81 billion of mu-
tual funds by investors, the odd
lot stock purchaser has iquidat-
ed about 1929 million between
August 1862 and September 1868.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04

lion to further expand and i'm
prove its Cleveland works.
Earnings
New York Telephone Co. in
10 months ended October 81
earned $127, S92.635 VS.. $780,
384,518 in 1862 period.
Public Service Of Indiana in
year ended October 81 earned
$21, O73, ZIG or $1.75 a share VS..
$40, ASS, 9O8 or 1.6O In 1862.
Ell PasO Electric in year
ended October 81 earned S.
075, 1899 or $1.O9 a share VS..
&,345, 290 or 80 cents in 1862.
Sears ROebuck Acceptance in
9 months ended October 81
earned $2.759,841 VS.. 3,42O,-
437 in 1862 period.
City Stores Co. in 80 weeks
ended November 2 showed a
net loss of $2,SS7, 900 VS.. loss of
81, 9O4, 900 in 1862 period.
Dominion Glass Co. in year
ended September 80 earned S.
22S, 1893 or 96 cents a share VS..
$3.50, 686 or $1.18 in 1862.
Franklin Stores Corp. in
quarter ended September 80
earned $1SS,OS7 or Is cents a
share VS.. $1O2,12O or ID cents
in 1862 period.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04
Socony Planning
SAYS Million
For Explorations

NEW YORK, (AP).-Socony
Mobil Oil Co. said today its cap
ital and exploration expendi-
lures next year may top $475
million.
Albert L. Nickerson, chair
man, said this would be $65 mil
Lion more than this years fig
ure.
He added that SOcony's CAPT.
tai and exploration spending
next year could reach $50 mil
lion if certain plans materialize.
''We feel that 1864 will be a
good year of high-level econom-
ic activity at home and abroad
"a good year for competitive,
well-managed companies" Mr..
Nickerson told the New York
Society Of Security Analysts.
Mr.. Nickerson estimated that
United States and Canadian oil
consumption would rise to AS
million barrels a day by 1872,
compared to II million barrels
a day last year.
He said a Mobile affiliate in
Libya had begun producing
crude oil at 1900 barrels a day
and expects to produce 10000
barrels daily next summer.
BY the end of next year, Mr..
Nickerson said, Mobil hoped to
be moving crude oil to the
Mediterranean through a pipe.
line in which it will own a ma.
jority interest. He said the pipe.
line would have an initial ca
pacity of 10000 barrels a day.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04
BUSINESS BRIEFS

United States Electricity pro-
duction last week totaled 49,
976, 100000 kilowatt hours VS..
17,727, 900, 900 the previous week
"a decline for the first time in
at least a month. However, the
figure was IL per cent greater
than the 1862 period.
Kraft Paper Producers an
nOunced increases of $40 a ton,
mostly on bleached and un-
bleached kraft paper used for
grocery bags and sacks, multi
wall shipping sacks and
gummed tape. The increases
don't affect kraft wrapping
paper which many producers
boosted $40 a ton last October.
Firms announcing the increase
were Union Bag-Camp Paper
Corp, Scott Paper Co., West
Virginia Pulp & Paper Co.,
and International Paper Co.
McGraw-HiII Publishing Co.
and Breskin Publications, Inc,
will merge into McGraw-Hill
about January /. Stockholders
Of both firms approved the
merger.
Federated Publications, Inc.,
elected Robert B. Miller, chair
man Of the corporation and of
its executive committee.
A. H. Robins Co., Inc, Rich
mond, announced it has COM
pleted acquisition of Morton
Manufacturing Co., Lynchburg.
Jones & Laughlin Steel Corp.
announced it will spend $50 mil
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04
Stouffer Studies
Further Chances
To Expand Here
By DONALD B. HADLEY
star Financial Editor

Soufer Foods Corp plans to open two or three more res
taurans in the Washington Metropolitan Area but its policy OF
never opening unit without liquor license will limit Its
search for additional locations.
This was indicated last night by Donald S. Carmichael,
executive vice president and of the company in talk
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04

The success story of Hot
Shoppes and population growth
were major factors in leading
Stouffer's to enter the Washing
ton area. Coincidentally, Hot
ShOppes this week opened its
first unit in Cleveland, home
town of Stouffer's.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04
C&O Will Sell
Toledo Facility

CLEVELAND (DO.-A tenta-
tive agreement between the
Chesapeake & Ohio Railway
and the Toledo-Lucas County
Port Authority for sale of the
C&0'S 498-acre coal and ore
loading dock in Toledo for $50
million to $40 million to the Au-
thority is expected by mid
December.
The C&O would continue to
operate the docks and storage
yard under a 4O-year lease-the
authority would float revenue
bonds to pay for the facility.
C&O's annual rent would COW
er the more than So million ex-
pected in annual bond payments
and interest and may include an
additional wharfage fee Of about
$3.50, 900 a year.
Proceeds could belp C&0 i'm
prove facilities of the Baltimore
& Ohio RR which it controls I'M
der an ice order as a step to-
ward merger.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04
Banker Urges
Separate Unit
FOrAidA Abroad

NEW YORK (AP).-Foreign
aid programs should be turned
over to some international
group and many American
troops should be brought home,
the chairman of the worlds Sec
ond largest bank said today.
George Champion of the
Chase Manhattan Bank said in
a speech prepared for the Ma
tional Association of Manufac-
turerS convention:
I'VE have to act more deci-
sively to eliminate the deficit in
our balance of payments. The
waste in our foreign aid must
be eliminated with the whole
program shifted over to admin
iStration by a competent multi
national agency.
''Nor does it make any sense
to continue the financial burden
of massive troop maintenance
abroad. Our NAT0 North
Atlantic Treaty Organization
allies are fully capable of living
up to their full commitments.
"A major pullback of our own
troops is both necessary and de-
Sirable."
Speaking with Mr.. Champion
were W. P. Gullander, president
of the NAM, and A. c. Rubel,
president of Union Oil Co. of
California.
Mr.. Champion said there are
signs of reaction against ''falla-
cious economic ideas" that have
developed in recent years.
ct was not without meaning
that wheat farmers this past
spring voted down the far
reaching controls that had been
proposed for Them" he said.
"Their revolt is symbolic, il
seems to me, Of a wider feeling
"a feeling that has even made
itself felt on college campuses
with the spread Of organizations
dedicated to personal freedom,
There is a rapidly growing
reaction against bureaucratic
presSures from Washington for
more centralized control and
decision-making."
Mr.. Gullander said concentra'
ton Of political power is de
stroying the market place as {
regulating mechanism in the
economy.
He said proposed Legislation
affecting packaging, credit
patents, mass transportation
and retail prices would have
the effect Of taking the respon'
sibiIity for regulating our econ
omy even further out Of the
hands of those who invest, pro
duce and consume-out of the
market place"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04
SdVingsBa
SeenLagging

NEW YORK, (AP).-The saw
ingS banking industry is falling
behind when compared with the
growth of other financial inStitu-
tons and ever-increasIng public
needs, the head of the National
Association Of Mutual Savings
Banks believes.
At the same time, President
r. Stewart Rauch, jr. told the
associations 18th m d-year
meeting, the induStry'S estimat-
ed total deposits at the end of
the year would exceed a record
$44.6 billion and assets would
approach a record $50 billion.
ION an mduStry-wide basis,
savings banking is prevented by
obsolete statutes and regulations
from adapting itself to the evo-
luton Of our economic life," Mr..
Rauch said.
He called on the industry to
raise its voice in Washington
Gin order to broaden under
standing Of our industry, and
safeguard our interests and
those of our depositors."
Mr.. Rauch named three basic
issues necessary to assure what
he called a future Of increasing
effectiveness and vitality for the
industry.
l. A broadening of savings
bank services to include con
sumner lending;
2. A widening Of the indus.
try's marketing area to the en-
tire United States, and
3. New powers to enable the
industry to be sufficiently flexi
BILE to serve the needs of an ex
panding economy.
Savings banks are authorized
in only Is States. Legislation ia
permit Federally chartered saw.
ings banks is pending in Con-
greSS..
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04
By ED MORSE
Associated Press Business Writer

HOLLYWOOD, FLA IRE
turn to the securities business
by banks was assailed today al
the SD annual convention of the
Investment Bankers Association
/ of America.
Under attack was a contro.
verSial regulation issued by
James j. Saxon, controller Of
the currency, which permitted
nationally chartred banks to
operate collective funds. usually
trust funds in which securities
are administered collectively
for various clients.
Herbert r. Anderson, chair
man of the IBA investment
companies committee, attacked
Legislation now pending in Con-
IgreSS that would confirm Mr..
Saxon's authorization.
Mr.. Anderson said this would
be "bad for the banks, bad for
the securities business and bad
for the public generally"
He recalled that in the early
19SOS, following the stock mark
ct crash of 1929, Congress
pass legislation divorcing
banks from the general Securi-
ties business, while also provid-
ing for the regulation of the
securities business and the pro-
lection of investors through full
disclosure.
Mr.. Anderson said that if the
proposed legislation were to
pass, "banks not only would be
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04
New Quarters Opened
BY Mucke Vendinq

Macke Vending Corp. enter
tanned customers and suppiers
yesterday at the opening Of its
new headquarters at 1893 White
street, S.W.
The new 2O,OOO-square foot
quarters take the place Of pre-
viouS offices providing only 400
square feet.
Founded in 1926, Macke now
operates more than $1,000 vend-
ing machines along the east
coast from Connecticut to
Florida.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04
Capital Bank Loans
And Deposits Decline

Both loans and deposits OF
Washington's three largest
banks declined slightly in the
week ended November q, but
remained well above a year ago,
data from the Federal Reserve
Bank of Richmond disclosed
today.
Gross loans of Riggs National,
American Security & Trust and
National Bank of Washington to-
tailed $728, 892, 900 on November
q, compared with $7S6, 422, 900
a week earlier and 1858, 765, 900
on November % last year.
Deposits amounted to $751;
458, 900 on November q, COM
pared with $1,S76,67l 900 a week
earlier and 81, 267, 2S8, 900 a year
earlier.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04

according to a Commerce
Department official. Savings and
loan associations insured by the
Government had a two per cent
drop from year-ago levels in
October, Federal Home Loan
Board economists report.
Lenders seem to be a good
deal less interested than they
have been in buying Govern
ment-inSured home mortgages
from the Federal National
Mortgage Association. Though
economists disagree about what
this means, it could suggest
that lenders have less money
free to spend at FNMA's mort
gage-Selling window.
The overall met inflow of
savings" to all types of finan-
cial institutions is mot quite as
great" as it was a year ago, &C.
cording to an economist on the
White House staff.
Some analysts in the Govern
ment think these signs are
much too cloudy to show any,
thing. Statistical error" might
account for at least some of
them, according to one official.
But there are other aides who
think the signs mean something.
One economist, noting that 1t
used to be normal for savings
to drop in a time of expansion,
said recent developments
could be a tip-off" that this
trend is beginning again.
Increased Interest
Almost two years ago, the
Federal Reserve Board caused
the unusual tendency to save
amid prosperity. 1t did so by
raising the interest rate that
banks can pay on savings and
time deposits at banks.
The result, according to Pres
idential economic adviser Gard
ner Ackley, was nothing short
of phenomenal"
It gave banks vastly larger
amounts of money to lend, and
nut them in active competition
as long-term lenders-to home
buyers, particularly.
1t led other financial institu-
tons to offer more to attract or
keep savings deposits.
And, in general, it helped
long-term interest rates-the
kind most important in econom-
ic expansiOn-stay stable or &C.
tually fall.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04

Government monetary theories
and policies.
Here is what the harbingers
of change sighted recently seem
to show:
Americans may at last-that
is, after two years-be ready to
stop saving so much of their
money. Instead, they might be
going back to the habit they
used to follow in times of pros
perity-spending heavily.
Could Tighten Supply
The growing reluctance to
save, if that's what is now hap
pening, could tighten the supply
and raise the cost of the money
needed to finance the expansion
of the economy. That could
come before the tax cut has a
chance to put money back into
the economy.
These results would not neces-
sarily compel Mr.. johnson and
his advisers to draft brand-new
money policy. But they could at
least require some re-thinking
Of policy, and, probably, some
tinkering with it.
For example, the argument
that short-term interest rates
can be held up to meet gold out
flow problems without hurting
the economy at home would be
subject to challenge. This argu-
ment depends on the theory that
there is enough long-term money
around at reasonable cost to
fuel the expansion at home.
The policy Of selling off to
private investors many kinds of
loans made by the Government
would be sharply questioned. BY
getting rid Of these holdings, the
Government can make new
loans without raising the budg-
ct. This policy also relies upon
a big supply of idle private
cash.
In addition, there would be
new doubt about the notion that
''inflationary psychology" has
waned, and that, therefore. a
tax cut at a time of buIge, fcfi-
cts will not create pressure; of
initiation.
Within the next few weeks,
Government Statisticians viii be
able to tell whether the tenden-
cy to save is actually weaken
ing. For now, however, there
are these indications:
"A bit OF slackening" appar-
emily has started to show up in
the growth Of savings deposits
at banks, according to figures
supplied to the Federal Reserve
Board.
The volume Of savings and
loan shares-reflecting new saw
ings - is "Off substantially, Z"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04

CAC(ubANC VIC PAOoAAShN cAAN ~ ~
before the Washington Society
of Investment Analysts.
Mr.. Carmichael discussed
company expansion plans for the
Washington area and later men
toned the policy on liquor L.
censes. He conceded that bans
on private liquor licenses in
Montgomery County and all Of
nearby Virginia would limit the
expansion horizon considerably.
Prince Georges County is the
only Washington suburban Sec
ton in which liquor sales are
permitted in commercial eStab-
liShmentS.
The analysts heard Mr.. Car
michael following dinner at the
company's first Washington res
taurant, which opened recently
at ISL K st.. NV.
Forecasts Profits Jump
The speaker said Stouffer's
expects to earn between $1.85
and $1.9O a share after taxes in
the current fiscal year which
began August l, compared with
$1.53 a share in the previous
year. Preliminary data for four
months ended November 80 in
dicates a profits gain of Is per
cent and a sales increase Of z
per cent, Mr.. Carmichael said.
Earnings before taxes in the
year ended July 81 amounted to
8 per cent of sales, compared
with z per cent in the previous
year, and the company has a
goal of 10 per cent within the
next two years, he said.
BY 1870 the sales goal is be-
tween $40 million and $500 mil
lion, but to reach the latter fig
ure, some acquisitions will be
necessary, he declared. No new
financing will be necessary for
expansion in the coming year.
Frozen Foods Expanding
While the restaurant division
still provides the largest part Of
company volume, the frozen
foods division, which started in
a very small way in the Shaker
Square restaurant in Cleveland
is expected to become the larg
est division eventually, Mr.. Car
michael said.
The company is planning ex
pansion of its growing chain o
motor hotels, but is moving
cautiously, because of location
risks. Populous suburbs close to
thruways are preferred. After
two unsuccessful attempts ia
operate rooms of motor hotels
under franchise, the company
has decided to conduct all op-
eratiOns itself, he said.
The new Washington restau-
rant is showing good progress,
but it will take time for the
community to get acquainted
with unusual features of the
chain, he said.
The restaurant division is
headed by a woman vice preSi-
dent, all Of its cooks are women
and only women wait on guests,
he pointed out.
The performance of women
in restaurant operations has led
some customers to regard Stout
fer's as primarily a restaurant
for women and company Of
ficials have tried hard to cor.
rect this impression, Mr.. Carmi-
chael said.
"Our special Martins have
helped as much as anything else
in this direction" he said.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04
CrucibIe Steel

PITTSBURGH (DO.-Cruci-
BILE Steel Co. of America an
nounced plans to build a new
$4,000, 900 rod and bar mill at its
Sanderson-H alcomb works in
Syracuse, N. Y. The new faciIi-
ty is expected to be in operation
by early 1865.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-04
Money Use Seen Shifting
Hints Savings Taper Off
May Bring Policy Restudy
By LYLE DENNISTON
Star Business Writer

President Johnson could be faced with the need to make
some policy about money Federal economists suggest
Some very tentative but possibly quite important signs of
change the financial habits Of Americans be showing
up.
these changes true they could lead to restudy of
Minneapolis spokesman., 1963-05-30
LIFE Editorial Should
Have Great Impact

Editors Note: The editorial reprinted below is
from the May "a edition Of LIFE Magazine Its
theme subjects and conclusions will not be new
to readers of this newspaper and Of the 100
Negro newspapers thruout the us. What LIFE
says has been said time and time again in the past
1876 years since the first Negro newspaper spoke
out against the American white mans treatment Of
the Negro.
LIFE Magazine is perhaps the most powerful
national publication in influence and its masterfu
editorial will have great impact the nation which
reads it. 1t comes at a time when America,
pecially white America should lsten take stock and
action to rid this nation Of what Gunnar Myrda has
so aptly labeled, The American Dilemma"