davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-04
BUSINESS BRIEFS

earned $1,756,652 or $1.O5 a
share VS.. $1,581 1877 or "a cents
in 1862 period.
Eastern Utilities Associates
in IL months ended July 81
earned $3,966,382 or $3.l5 a
share VS.. $3,65O,587 or $3.50 in
1961-62 period.
w. T. Grant Co. in quarter
ended July 81 earned $l,060,171
or Is cents a share VS.. $3.50, 1852
or 3 cents In 1862 period.
Republic Corp. in 80 weeks
ended July 81 earned $1,462,145
or 48 cents a share VS.. $1,128,-
632 or "a cents in 1872 period.
Tractor Supply in quarter
ended July 81 earned $536,Sl3
or 4S cents a share VS.. $545, 1856
or A cents in 1862 period.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-04
YOUR MONEYS WORTH
HemIine Theory


At the recent Paris fashion
showings. one designer terrified
clothes and budget conscious
women everywhere by dropping
his hemlines inches below the
the knee. He also scared those
who believe in the "hemline"
barometer of business. Accord
ing to this theory of economic
forecaSting. falling hemlines
signal a business recession
while rising hemlines indicate
an approaching upturn.
At the same Paris showings,
though, other designers kept
their hemlines just covering
the knee-which will give
women who buy clothes to
wear for more than one season
but who at the same time want
to dress in the style of the
moment a reprieve. But these
designers also fuzzed the hem
line barometer, for their de-
ciSions suggest the threat of
recession is hardly clear-cut.
Zany? Sure it is. But hem
lines have fallen enough times
in the past recession periods
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-04
LestoiI Gets
nAmi Stock

HOLYOKE, Mass. (DO. -
Lestoil Products, Inc, has &C
cepted well in excess Of 100,-
900 shares" of Bon Ami COM
mon under the $11.50 a share
offer, Daniel E. Hogan, jr.,
president, reports.
Including an initial purchase
Of about 100000 Bon Ami
shares from Tel-A-Sign, Inc,
and open-market purchases,
Lestoil and an affiliated COM
pany-Standard International,
Inc.-own about so per cent of
the $4,000 Bon Ami shares
outstanding. Mr.. Hogan said.
Standard International is par
ticipating in the purchase as an
interim financing arrangement,
pending long-term financing
by Lestoil, the company said.
Lestoil plans to purchase
Standard International's Bon
Ami shares at Standards cost.
Bon Ami shares rendered
under the August offer were
accepted on the order of re-
ceipt until Lestoil felt it had
achieved its objective, Lestoil
said. Shares not accepted are
being returned to shareholders.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-04

Steel Production held steady
last week at l.765,000 tons and
shipments should gain 10 per
cent next month, based mainly
on an expected rise in auto
orders.-Iron Age.
Shoe Output was down in
July compared to year-earlier
| figure, for ninth monthly de-
cline in row. Total OF 44.6 mil
lion pairs was 81 per cent
lower than in July. 1862
Dept. of Commerce.
General Motors Acceptance
Corp. has increased its interest
rate Of $50 to 270-day COM
mercial paper an eighth of q
point to 3.75 per cent effective
today.
Seat on New York Stock Ex-
change has been sold for $215,-
900, unchanged from previous
price.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-04
Annex Head Cites Prooress

sibilitieS; the stock list: as
sociate membership, and au-
donation of the stock quota
ton system.
With the exchange member
ship having revised the con-
stitution to abolish standing
committees and switch prime
operating responsibility to the
staff, Mr.. Etherington estab-
ltShed six staff divisions. These
were operations, securities, adj
miniStration and finance, pub
lie affairs, secretary's office
and member services, and clear
ing house.
Two new divisions-market
procedures and office proce-
dures-will be established this
week.
Higher standards for list
ing stocks were put into effect
and less qualified companies
were pruned from the list.
Our goal" said Mr.. Ether
ington. lis that every company
admitted to the list is keeping
good company"
New Membership Program
Last April the regular mem
bers approved a comprehensive
membership program, provid-
ing for the first increase in
membership in 43 years.
The exchange authorized 1O1
new seats initially for sale to
qualified representatives of the
389 associate member organi-
cations. Since then, 50 asso-
ciate members have applied for
lOl new seats and n have
been approved. This brings
membership to 576.
The exchange renegotiated
its 1861 automation contract
with the Teleregister Corp.
which Mr.. Etherington said
could have cost the Annex up
wards of SIS million. The sys-
TEN, capable of handling $4,000
market inquiries an hour, is
expected to be in operation late
this year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-04
BANK REPORTS
GOOD OUTLOOK
FOR BUSINESS

NEW YORK (AP). -
Business sentiment remains
generally good, the First
National City Bank reports.
The banks monthly
economic letter presented
three major reasons for this
conclusion: /. Better-than
expected sales and profits
so far this year; 2. renewed
buoyancy in the stock mar
ket, and 3. what was called
tangible progress on the tax
bill in Congress.
Recent business reports
betray no faltering of the
pace of activity" the letter
states.
However, 1t adds that de-
ciSionS on the balance of
payments and railroad work
problems will affect not
only the current course of
business, but more impor-
family, the long-term pat
tern of our national devel-
opment."
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-04
S. T. Saunders Named
By Chase Manhattan

NEW YORK (AP).-Th e
c h ase Manhattan Bank has
elected Stuart T. Saunders,
president of the Norfolk and
Western Railway Co., to the
board of directors.
Mr.. Saunders, 81, will become
chairman and chief executive
officer of the Pennsylvania
Railroad next month. He has
been head of the Norfolk and
Western since 1858.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-04
MUTUAL FUNDS

NEW YORK (AP)
- The following bid
and a sked quota
tons, supplied by
the National Associ-
alton of Securities
Dealers, Inc, reflect
prices at which Sc
curities could have
heen snld or hniIRhf.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-04
Nv JACK LEFLER

Associated Press Business News Writer
NEW YORK. - Edwin D.
Etherington, completing his
first year as president Of the
once beleaguered America n
Stock Exchange, looked back
today with no sense of SNUG
ness but with a real sense of
satisfaction"
The 38-year- old attorney
took the $8O,000-a-year job
when the Nations second rank
ing securities market was in
the first stages or reorganiza-
ton. He had been a vice pres
ident of the bigger New York
Stock Exchange.
The reorganization was I'M
dertaken voluntarily after a Sc
curitieS and exchange commits
sion investigation was set off
by a $10-million stock manipu-
lation scandal involving two
specialists operating on the
Annex floor.
The SEC criticized proceed
ures and operations of the
American Exchange. It's initial
investigation mushroomed into
an inquiry involving the entire
securities industry.
Reshuffle Completed
II think the major accom-
plishmentS of the past year
have been the restructuring of
all major elements of the ex-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-04
Austrian Agent

NEW YORK (AP).-National
Research Corp. of Cambridge,
Mass, said it has become the
exclusive United States distrib-
utor for tungsten and molyb-
denum products of Metallwerk
of Austria.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-04
Earnings

Chesapeake & Ohio Rwy. in
eight months ended August 81
earned $25,327,O0O or $2.85 a
share VS.. $40, 1888, 900 or $2.4O in
1862 period.
Kerr-McGee Oil Industries in
year ended June 80 earned
$18, 806,333 or $3.05 VS.. $17,0S4,-
264 or $2.74 in preceding year.
Southern Rwy. in seven
months ended July 81 earned
$16,789,000 or $2,27 a share VS..
.$14,870,o00 or $1.e8 in 1862
period.
American BiItrite Rubber in
six months ended June 80
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-04
ChIoroseptic Sales
Increase 25M in Yeur

The Chloraseptic Co., Wash
|ington pharmaceutical manu-
featuring firm, has reported
that sales for the year ended
August 81 were rs per cent
above last years level.
Samuel Schattner, vice pres
ident, said orders from drug
wholesalers in the United States
and foreign countries exceeded
81 million. New sales records
were set during each Of the IL
months, he added.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-04

change" Mr.. Etherington said
in an interview.
I'VE have tackled all of our
problems, and I feel that we
are in a position to meet all
responsibilities to the public
with maximum efficiency"
Mr.. Etherington said that
when he took over admins
tration of the ASE he gave top
priority to four major situa-
tons: Reorganization of the
staff to handle greater respon-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-04
By SYLVIA PORTER


coverieS to convince some nor.
mally intelligent men that the
tie is more than accidental.
The logic behind the theory is
that in bad times, manufac-
turers drop hemlines to use up
surplus materials and in good
times raise them as the sur
pluSes disappear.
DOughnut Hole Bigger
In the last couple Of years,
the hole in the doughnut has
become bigger, says my au-
thoritative source, my neigh
borhood grocer. 1.-THE dough
has just become q rim for the
big hole" he said in answer to
my questions, then blurted,
What makes you grin at
that?"
grinned because, according
to the hole in he-doughnut
theory Of economic forecaSting,
the hole gets larger in good
times and gets smaller in bad
times. Again, normally iAtelli-
gent men who follow this
barometer come up with a logi-
cal explanation: in bad times
consumers insist on more cake
per-doughnut to eat, while in
good times we don't care and
we Just buy the doughnutS
bakers offer.
zany? Yes, and I've plenty
more Of these non-scientific |
barometers-none so clement
airy as tea leaves either.
For instance, there's the |
pencil barometer, which was
superbly right in predicting the |
current upSwing at its start in
February 1861. The theory here |
is that in bad times, when cor
porations try to slash costs,
pencils are an easily reduced |
expense, and vice versa, in good |
times, corporations Shrug off |
rising costs Of pencils. In late
1960-early 1851, sales of pencils |
were rising sharply. Said an
executive Of q major pencil
firm at the time, this indicates
a "protracted upswing" in the
economy. He hit it on the but
ton.
Then there's the salesman's
mileage barometer, which was
excellent too in forecasting the
end of the 196O-61 recession.
The theory here is that in bad
times statesmen drive more miles
because sales are hard to make,
while in good times they drive
less because sales are easy. In
February Of 1861, major auto
leasing firms reported a decline |
in mileage driven by statesmen
AN optimistic" sign. That !
month marked the low point of |
the last recession.
New Tools Attacked
We have created the most
scientific, elaborate and elegant
tools for economic forecasting
in history in recent years, and
of course, no responsible econ
omiSt relies on such barometers
as I've mentioned In this re-
port.
No statistic on business can
be considered in a vacuum. A
prediction which is based on
strictly mathematical equations
or which is built on complex
economic models" can be
worse than useless. Politics,
psychology. subtle changes in
international relationships and
rivalrieS, social movements-all
these affect and always will
affect economic trends. The
economist who ignores these
forces in economic forecasting
is not only being naive. He is
also downgrading his entire
profession.
In fact, this slave to the
mathematics in mics
would be a lot better off If he
abandoned his figure sheets
and instead studied our hem
lines as we turn the windy
corners this fall and winter.
He'll have more fun and he'll
probably be just as accurate in
his forecasts-or more so.
distributed 1853, BY the Hall syndi-
cate. Inc. All rights reserved)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-21
KENNEDY SAVING
HIS COMMENTS
ON GOLDWATER

If Senator Barry Gold
water should be the Re-
publican presidential can
didate next year, President
Kennedy probably would
have a lot to say about his
connections with the rad
ical right"
But the President made
it clear at a press confer
ence late yesterday that
he is saving his ammuni-
ton for the 1864 cam
paign.
Commenting on a ques-
ton mentioning charges
that Senator Goldwater
could become a captive of
the radical right" Mr..
Kennedy said:
II don't know who has
captured who. I would
think that this is a mat
ter which can best be han
died by the Republicans
at this time.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-21

MIG was hit but said tn G
plane made 1t back to its base
At an air force rally in
Syria, the visiting Iraqi air
force chief, Brig. Hardan
Takrit, pledged that Iraqi
planes would take part in the
next aerial battle.
Israel filed q complaint
against Syria with the U. N
Security Council. The council
was expected to meet in New
York Friday or early next
week.
Syria instructed its U. N.
delegation to file counter
charges. 1t accused Israel OF
aggression in a complaint filed
with the U. N. Palestine Truce
Supervision Organization in
Jerusalem.
Several of the newspapers
at first had regarded the
Syrian war scare as a means
of diverting attention from
the political feud between
President Canal Abdel Nasser
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-21
Iraq AIerts Forces to Back Syria Against Israel

DAMASCUS, Syria, Aug. 81
(AP) .-Iraq modified its Army
and Air Force on standby alert
today and announced it was
placing it's armed forces under
the command of the Syrian
National Revolutionary council
after air and ground clashes
between Syria and Israel.
Both Damascus and Baghdad
radios Cancelled regular pro-
grams and whipped Syria
and Iraq into a state of ex-
element with martial music
messages of support and threats
against Israel.
Baghdad radio declared Iraq's
ruling National Revolutionary
Council is prepared to support
Syria Immediately with all mill
tary means and moral re-
sources"
A council statement said the
entire armed forces were in a
state of alert and were being
placed under the Syrian high
command.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-21

The Iraqi Defense Minister,
Gen. Saleh Mahdi Ammash,
announced all airports west of
the Euphrates River were on
standby alert, all planes were
ordered to be ready to take off
on 80 minutes notice, and all
army units west of the Euph-
rates were prepared to move
within half an hour.
The moves came less than
"a hours after Syria had an
nounced an armed clash with
is Israeli armored cars on the
70-mile armistice line. Both
Syria and Israel announced an
air battle between Syrian MIG
II fighter planes and Israeli
French made Mirage Jet
fighters.
Each nation claimed its
fighters shot down one of the
others planes. Each accused
the other of violating It's air
space. A Syrian air force
spokesman admitted a Syrian
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-21

of the United Arab Republic
and the Ba'ath Socialist gov
ernments Of Iraq and Syria.
Iraqi President Abdel Salam
Aref was to fly to Cairo this
afternoon to try to revive plans
for the three countries to unite
in a federation.
AS tension gripped Syria, the
political quarreling was for
gotten. The United Arab Re-
public pledged its support to
Syria against Israeli agrees
sion. Jordan and Saudi Arabia,
despite propaganda directed
against them by Syria, said
they stood by Syria in the
emergency.
Ground troops exchanged in
termittent rifle, machine gun
and mortar fire in the upper
Jordan valley. Syria claimed
to have repealed an incursion
of is Israeli armored cars in
a two-hour battle.
U. N. observers issued two
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-21

cease-fire orders before the.
guns fell silent last night.
Israel's formal complaint to-
the Security Council renewed
last weeks charge that Syria
was concentrating troops along
the border. Syria accused Israel
of similar buildup.
An Israeli army spokesman
denied a Syrian charge that
Israeli tanks had moved into
the demilitarized zone. He said.
Syrian tanks were massed
along the armistice line. s :,
Other Israeli reports said the
Syrians were removing civilians
from border villages and bring
ing up reinforcements. 2
The Iraqi Air Force COM
mander. Brig. Hardan Takriti,
pledged his nations aid to-
violated the 1949 armistice
agreement and committed ag-
gression by killing two Israeli
farmers in an ambush Monday
night. "
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-21
CAB Dismisses PIeo
By Flight Engineers
BY the Associated Press

The Civil Aeronautics Board
has refused to hear a complaint
of the Flight Engineers Inter-
national Association charging
Eastern Air Lines with viola
ton of the Railway Labor Act.
The board said, in dismissing
the complaint of the AFL-CIO
union yesterday, that it failed
to state facts warranting an
investigation at this time.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-21
Soviet Troop Reduction
In Cuba Called Steady

are still controlled by the
Russians.
3. Soviet economic" techni-
clans charged with helping
Castro Cuba change over from
a weStern-b based economy to a.
socialiSt-based economy. These
technicians are both civilian
and military. Intelligence re-
ports show the greatest with
drawalS recently in this cate
CORY.
Other NatiOnalities
They also show, however,
that many Of the Soviet ex-
perts have been diluted with
experts from East European
Satellites, such as Czechoslova-
kia, Rumania and Poland.
AS the President indicated
yesterday, the chief worry in
official quarters here is the
combat troops in the first
category. Their presence Is
considered to be more for
political reason than military
to reassure Premier Castro
about the firm Soviet COM
mitment to his defense against
United States aggression"
On the other hand, officials
here believe the continued pre-
sence Of these troops must be
causing uneaSiness on both the
Castro and Soviet sides. Despite
reports to the contrary, intel
ligence officials say that the
existence of these troops is not
publicized in Cuba, that they
are kept close to their bar
racks, and that when they are
moved they are in sports
clothes, not in uniform.
Cites U. S. Warning
United States officials rea-
son that the strong United
States warning after the mis-
siles crisis that this country
would not tolerate another
Hungary" in any Cuban up
rising must have sunk home to
the Russians.
The reasoning here Is that
the Russians would not be
anxious to heighten tensions
with the United States over
Cuba, since its general policy
in the dispute with Communist
China is in exactly the oppo-
site direction. But so long as
those troops are in Cuba. Off
Gals believe that the Soviet
Union would be under tremen-
dous pressure to intervene in
case of attempted overthrow
of the Castro regime.
On the other hand, policy
makers are frankly pessimestic
about any popular uprising in
the immediate future. They
say that despite isolated and
unco-ordinated sabotage, Mr..
Castro still has tight control
of the island. That is another
reason that at the moment
United States officials see no
military use for these Soviet
combat troops.
Castro military forces are
currently estimated here at
$4,000 in the regular army,
100000 in the militia, with
another 100000 reserve militia
ready to call up at a moments
notice.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-21
BY GEORGE SHERMAN
Star staff Writer

United States officials re-
port that the reduction of So
Wet troops in Cuba cited by
President Kennedy yesterday
has been a steady across-the-
board thinning out in all major
categories known to United
States intelligence.
At his press conference, the
President said that, on the
basis of outward and inward
movements, the intelligence
community judges there has
been a decline over the past
21a months, land the primary
emphasis of those who remain
now is in training, and not in
concentrated military units"
Presidential advisers say the
decrease has been neither
marked nor dramatic. And
since most Of the intelligence
is based on continued air sur
veillance, no official is ready
to hazard an estimate of the
number of Soviet military per-
sonnet remaining.
Mentioned April 3
The last mention of figures
came in a presidential press
conference on April 8. Mr.. Ken
needy said that about 5000
troops were estimated to have
been withdrawn in two stages
since the high point Of between
$1,000 and $4,000 Soviet per-
sonnet in Cuba was reached at
the height of the missiles crisis
last October. That puts the
last official estimate at be-
tween 10000 and 10000 Soviet
troops on the island.
Officials divide the Soviet
personnel into three major
categories.
/. Combat troops concentra-
ted in four main camps sprin-
killed. throughout the island.
Surveillance shows these forces
appear to have no active func-
ton other than lust sitting
around waiting" Although OBJ
servation shows that some of
these units have been removed
or thinned out, officials say it
is the category least affected
by the new Withdrawals.
2. Technical" military ex-
perts in Cuba with the mission
to train Castro forces in the
use Of Soviet equipment. Latest
evidence shows this equipment
to include between 40 or As
MIG fighters, "a sophisticated
SAM ground-to-air missile in
stallations, IL Komar cruise
missile sites for patrol boats
with surface-to-surface mis-
sileS of -5-mile range, and four
short-range deefnse missiles
with 30-mile range.
Steady Thinning
Officials report that the
thinning out Of Soviet technical
military personnel progresses
steadily with speed varying &C
cording to the sophistication of
the weapon being put in Cuban
hands. The pattern is COM
pared to the pattern originally
set out for withdrawal of
United States training per-
sohnel from Wet Nam as the
Wet Namese become more and
more self-sufficient in guerrilla
and other fighting techniques.
Officials here worry most
about CubanS taking over the
powerful SAM gound-to-air
missiles. which are equipped
with radar and which can
reach high-flying United States
observation planes. Once in
MI. CaStro's cratic hands, Of
ficials say that the SAM be-
comes a potentially dangerous
weapon for creating a major
international crisis.
Intelligence reports show,
however, that the SAM sites
St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1963-05-09
cANTORIANS BUSY IN
REHEARSAL FOR ANNUAL
SPRING CONCERT IN LIME

After several years rehearsing
at the home of Mr.. and Mrs. Bev-
erly Roland, the Cantorians are
now rehearsing at the lovely home
of Mr.. and Mrs. James D. Cook,
4436 Clinton Av. Mrs. Cook, one
of the newer Cantorian members,
volunteered her spacious rumpus
room to the Chorus for rehearsal.
The Cantorians are indeed CRATE
full to both the Rolands and the
Cooks.
The group has been invited to
provide music for the mid-week
service at Prince of Glory Luther
an Church, May 10. James Nichols,
Cantorian Tenor, is choirmaster
and organist at the Minneapolis
Church located in the Glenwood
Homes area.
Despite the recent extended ILL
ness of Cantorian director, Ken
meth L. Robinson, the Cantorians
are still hoping to present their
annual Spring Concert sometime
in June.
Plans are still being formulated
and at present, no date or sponsor
has been announced.