davidaulloa/AmericanStories huggingface dataset:
Evening star., 1963-05-31
CHICAGO GRAIN

CHICAGO tAPl;z.PrLcss q The he
stationery today RnsrS unusually rSssas ssalst
were within minor fractions of q cent
as SPECTATORS found no incentives 20
alter their positions. Brokers said
many traders had extended the Me-
mortal pay holiday through the week
Soybeans showed little firmnesS
In spots which dealers said may have
reflected light commercial demand
About a half-million bushels were sold
Trade virtually had ceased near the
end OF the first hour With wheat un-
changed to ss cent a bushel higher.
July 1859; corn UNCHANGED TO Y
hishsT hishsT 1 JpIy sz 2S s, Ost: u%,ntspn,. K %
TO .h higher. July l.27H: soybeans
unchanged 70 "a higher, July 2.5Sh.
Considerations for speculative trad
Ing In the wheat market are perhaps
been for the past few years Brokers
say the outlook suggests no broad
trends either way over the next few
weeks but that prices may react TO
conflicting day-to-day influences.
possibility that Congress may vet
enact q substitute control program
for the one which producers rejected
last week. However, on the basis Of
ineton they say that now seems remote.
Any other substitutes proposed thus
far could be at least slightly bullish
II prospects for passage seem possible
On the other hand, there is no
will reach markets during the heavy
harvest run Of the winter crop. Hedge
selling In any event will be at its
peak within q month or so and be
at least moderately bearish.
Opinion generally is, though, that
more OF the grain will 20 into the
Governments price program this year
than ever before.
Evening star., 1963-05-31
Hoover Boil
PIuns2-1Sp

DETROIT CDJ). - Hoover
Ball & Bearing Co. directors
have proposed 2-for-l stock
split subject to approval of
shareholders at a special meet
ing July 8.
Shareholders will be asked
to increase the authorized
shares of common to 5000 900
from 2,500,000. Currently there
are 1855, ,730 Hoover Ball shares
outstanding.
Under the proposal the par
value Of the common stock will
be reduced to $3.50 a share
from $500 a share-the split
would be effective 10 stock
holders OF record July 9.
Evening star., 1963-05-31
Stock Prices
Push Higher;
Trading Heavy

NEW YORK (AP).-The
stock market drove toward new
highs for 1868 in heavy trading
early this afternoon. \
Motors and steels resumed
the leadership they exerted in
the pre-Memorial Day session.
Exchanges were closed for the
holiday yesterday.
First-hour volume of 1.24
million shares was the heaviest
in several days and surprisingly
large for a session sandwiChed
between a holiday and a week
end. Normally, such stock
market days are dull and
cautious.
The overall list was pushing
above a resistance level in the
averages which has defied
penetration in the past couple
Of weeks Of consolidation.
Key stocks advanced from
fractions TO a point or better.
Optimism about business and
confidence that the market
was heading for new highs
accompanied the vigorous
advance.
Glowing prospects for the
auto industry. with resultant
orders for steel, accompanied
the rise in stocks of these two
industries.
Hoover Ball q Bearing pro-
posed q 2-for-l stock split and
advanced more than a point.
American Stock Exchange
prices advanced generally In
fairly active trading.
Corporate bonds edged high
er. Government bonds were
mainly firm.
Evening star., 1963-05-31
Dividend Rise Seen

BIRMINGHAM, Ala. DID,
The board Of Southern Nat
ural Gas Co. is likely to take
a hard look at increasing the
dividend on common at the Oc-
tober meeting" H. e. Jackson,
senior vice president and treas-
urer OF the natural gas supplier
told Dow Jones. The company
has been paying so cents quar-
terly.
Evening star., 1963-05-31
$3.50 Million Cutbuck

NEW YORK (AP). - Ameril
cans spend $3.50 million a year
on trying to reduce their
weight, 1t was estimated in
Chain Store Age magazines
drug edition. Much Of the
money is spent on doctor con-
situations and so-called "ap-
petite distractors" in pharma-
cies and supermarkets. the
magazine said.
Evening star., 1963-05-31
CHICAGO GRAIN

CHICAGO (APD. - Grain futures
prices showed little firmneSs in spots
today. although trading was dull and
mixed.
Scattered commercial support added
fractions to corn and soybeans but Of
ferings increased on the small bulges
Both buying and selling was largely
on resting orders with floor specula-
tors showing little inclination to par
ticipate. Many Of them were absent
from the pits today.
The limited firmness In wheat was
credited largely to short covering for
the weekend but the small advances
also attracted selling there.
At midday. wheat was ls-ss cent q
higher 10 V lower. July Sl.23; oats
UNCHANGED to Y higher, July 81 cents:
rye unchanged to V lower. July
Sl.273+: soybeons h-1h hiGher. July
Evening star., 1963-05-31
FDyc Candidates

John F. Lord, a North Da-
kota Democrat and form r
Gov. George Docking of Kan
sas, also a Democrat, are re-
garded in political circles as
the leading candidates for the
chairmanship of the Federal
Deposit Insurance Corp. The
present chairman. Erie Cooke,
sr., has notified President Ken
nedy that he does not seek re-
appointment.
Evening star., 1963-05-31
C&P Net Shows
Small Increase

Net income of Chesapeake
and Potomac Telephone Co.
amounted to $720,000 in April,
compared with $4,000 in the
same 1862 month, reported ].
Hillman zahn, vice president in
charge of the Washington COM
pany, yesterday.
Net for IL months ended
April 30 was $8,865,O00 VS.. $s.-
$4,000 in the previous IL
months,
Directors approved an addi-
tional $320,000 for plant addi-
tions and service improvements
at Il. -,r May meeting.
Evening star., 1963-05-31
Suvines Merger oKd

NEW YORK tAPD - State
Supt. Of Banks oren Root has
approved the proposed merger
OF the New York Savings Bank
and the Bank for Savings. The
combine will be New York citys
third largest savings bank.
Evening star., 1963-05-31
METALS

NEW YORK tAPD-spot nonferrous
metal prices today: Copper 81 cents .
pound connsetiegt VSllsy. Lead 10Y
cents q pound, East ST. Louis Ti5
LIZA Q pound. New York. Foreign
silver .276 per troy ounce New York
Pittsburgh scrap steel No. / heavy was
quoted today By Iron AGE At BOO
80. 90.
Evening star., 1963-05-31
COTTON

NEW YORK (AP).-Cotton futuree
we're irregular late today. Trading wal
mixed and curtailed BY holiday tnflut
ing met scattered liauidation. Trad5
buying was small.
Late afternoon prices were as cents
a bale higher TO 5 cents lower than
the previous close. July 1920 bid,
October 81 AZ and December 32.47.
Evening star., 1963-05-31
DIVIDENDS
ODD-LOT TRADING

NEW YORK (APl The New YORK
Stock Exchange reported today these
odd lot transactions By principal deaf
ers for May o. Purchases Of us, 1874
shares: Sales Of 352.069 shares in
eluding 2.s44 shares sold short.
Evening star., 1963-05-31
NEW YORK
BONDS

Furnished by tie Associated Press
List tnrludes Most Active Stocks
Evening star., 1963-05-31

Quotations for 1OO-share lots. 'sFor
g5-share lots Others lO-share lots.
IS xEx-dividend. Plus extra or extras.
Evening star., 1963-05-31
FOREIGN
EXCHANGE

NEW YORK (AP). Foreign exchange
In dollars and decimals Of dollar:
Evening star., 1963-05-31
D. c. SECURITIES

Bid and asked prices on stocks listed
on the Philadelphia WASH
Evening star., 1963-05-31

WIN bankruptcy uf fcCelVefshlp or
BEING reorEaniked under the Bankruptcy
Set, or securities assumed By such com.
nan,es. NJ ~ interest ct sCertlncates
bonds. neaotiabllty impaired By maturity.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-09
s. -

Automatic! HUmidifies up to 1900 SO. #.
plus up TO 7-soI. dispersion daily. SpecioI
price! Stand exfro.)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
NEWEST VESSEL
FROM FINLAND
ARRIVES HERE

MS Finnforest, a 7,947-
ton addition to Finland's
merchant fleet, arrived at
Robinson Terminal in Alex
andria today on her maiden
voyage.
The vessel, which nor
mally will carry a heavy
cargo of newsprint for
Washington newspapers, is
unloading automobiles, lift
vans, furniture. glassware,
frozen fish and barreled
beer.
Her five holds have q
bale capacity of 485,914
cubic feet, including more
than 37,147 cubic feet Of
refrigerated space. There
also are accommodations
for six passengers.
The ship will operate be-
tween East Coast ports,
Holland, Germany and
Finland. From here she
will go to Hampton Roads
to unload additional cargo
and to load coal for Ger
many.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
Four Indicted in Sale
Of Conodion Stock

Washington described Sher-
wood and Berman as expert
enced securities statesmen.
A Securities and Exchange
Commission spokesman said
Sherwood served as a market
specialist for Doyle, while Ber-
man was primarily a public
relations contact man with
brokers.
The defendants have been
ordered to appear in U. s.
District Court September 9 to
be arraigned. The indictment
remained secret, Zampano said,
because two of the defendants
were abroad at the time it was
originally returned. The COM
pany itself was not indicted.
The 11-count indictment
said Doyle and the other de-
PENDANTS issued publicity lead
ing investors to expect highly
profitable and early, almost
immediate. successful CONNER
cial production, transporting
and marketing Of millions of
tons of valuable iron ore, when
in fact Canadian Javelin, Ltd,
was in no position to so pro-
duce, transport or market such
ore."
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
BY DON BACON
Star Business Writer

Public investment in the
Communications Satellite Corp.
will be risky. and should be
undertaken only after careful
consideration Of the highly
unusual problems involved, Leo
d. WEIGH, the company's chair
man, angrily warned the Fed
eral Communications Commits
sion yesterday.
He said, however, that the
corporation still expects to be
ready with a public stock offer
ing mot later than the early
part of 1854"
This would be in line with
the original timing discussed
last year as Congress was
drawing up legislation to estab-
lish the global communications
enterprise.
Communications s atellite
Corp, a private company with
an unusual degree of super
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
MORE IN ANGER THAN SORROW
Satellite Corp. ScoIds FEC,
Cites Risks in Stock Issue

vision by Congress. the regula-
tory agencies and the President,
has been wrangling with the
FEC for several weeks over the
timing of a public stock issue.
The company is required by
law to sell public shares. In
a letter to directors of the
corporation last month. the
FEC accused them Of dragging
their feet. The agency indicated
that it would deny additional
requests from the company for
lines Of credit, until some
definite equity financing plans
are announced.
In a five page written reply
yesterday, Mr.. WEIGH told the
FEC, in short, to mind its own
business.
The corporate directors have
"a keen sense of responsibility
in insuring that the stock Of
fering sis carried out in a man.
ner that provides prospective
investors with all relevant In
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
RoyoI Dutch Oil
Net Up Slightly

THE HAGUE, Netherlands
(AP).-Net income of the Royal
Dutch Shell group Of COM
panies in the first half of
1868 was 98.7 million pounds
($276.36 Million, the group re-
ported today.
The report said this was an
increase of "a per cent over
the net income Of 1854 million
pounds ($269.92 million) in the
first half of 1862. The net in
come for the second quarter
was virtually unchanged.
Compared with the first half
Of 1862, the volume of crude
oil and oil production sold by
group companies rose by al
most 8 per cent, the report
said. However, although SELL
ing prices for gasoline showed
some improvements in the
United, States, elsewhere the
prices Of the main oil products
were generally below the level
Of the first half of 1862.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08

formation and gives full con-
sideration to the public inter-
est and to principles of sound
business practice" MIR. WEIGH
said.
a.. To neglect these con-
siderations," he added, would
be a disservice to the prospec-
tive investors in the corpora
ton and to the achievement
for the benefit of the Nation
of a soundly established global
communications satellite sys-
tenn"
Mr.. WEIGH, formerly chair
man of Standard Oil Co. Of
New Jersey, advised the Com
mission against interference in
the company's management de-
cisions. Responsibility for ex-
pending borrowed funds or
planning the stock offering
should be placed in the hands
Of the corporate officers and
the board of directors" as in
tended by Congress, Mr.. WEIGH
commended.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
Hec|lt 10 Build
Sixth Store

The Hecht Co. announced
yesterday that it is planning to
build its sixth Washington area
store in the Laurel Shopping
Center on Route /, Laurel, Md,
Harry N. Hirshberg, IT., vice
president and general manager,
said the new store will be COM
pleted early in 1864. It will be
a modern, white split-marble
and brick building having the
largest single floor area of any
Hecht Co. store, a total in ex-
cess of $4,000 square feet.
The exterior will have a
glass treated facade. The
building will be 20 feet high,
1855 feet long and 225 feet deep.
Parking will be provided for
approximately 1000 cars.
Walter E. Reitz, vice presi-
dent in charge of operations,
control and planning, will d.
rect construction of the store.
Manager of the store will be
Albert Vicente, who is being
prom OF e d from operations
manager of the Hecht Co.'S.
Prince Georges Plaza store.
In addition to its downtown
store, the Hecht Co. operates
stores in Silver Spring. Park
ington, Virginia, Prince Georges
Plaza and NARROW Heights. The
Silver Spring branch was the
first. opening in 1947.
The Hecht Co. was merged
into the May department stores
company in 1859. The May Co.
now operates 81 downtown and
branch department stores and
six regional shopping centers
in II major metropolitan areas.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
June Exports Off so
Imports Hold Steady

at an adjusted $1,410. 100000,
about the same as Mays re-
vised 81, 4O6, 100000. In June,
1862, imports totaled an ad-
justed $1,342,400, 900.
Imports in the first six
months of 1868 ran at an ad-
justed annual rate Of $l6,621,-
100000, up about 8 per cent
from the $16,149,000,000 rate
in the 1862 period.
The June decline in exports
narrowed this country's favor
able trade balance in the month
to $403, 100000 from $494, 300,-
900 in May. The United States
relies on this trade balance to
help offset foreign aid invest
ment and other expenditures
overseas that cause the deficit
in the balance of payments.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08

HARTFORD, Conn. (AP).-
In an indictment kept secret
more than a year, the chair
man Of the board of Canadian
Javelin, Ltd, q Canadian min
ing company, and three other
men have been accused Of
fraudulently promoting sales Of
the company's stock.
United States District Court
ordered the eight-page indict-
ment kept secret when it was
returned originally by a Federal
grand jury here on July 2, 1862.
Judge Robert P. Anderson
ordered an end to the secrecy
after he was advised by U. s.
Attorney Robert c. Zampano
there was no longer any need
for it.
In addition to John Christie
pher Doyle of st. Johns, Mid,
and New York City, chairman
of the board of Canadian Jave-
lin, the indictment named as
defendants Arthur I. Korn,
head of a brokerage firm in
New York City; Robert Maurice
Sherwood of Montreal and
Geneva, Switzerland, and Mil
ton Berman of New York City.
The Justice Department in
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
Sales Up 1877
AT Dart Drug

Dart Drug Corp. has an
nounced that sales for the
seven months ending July 81
reached a record high of S.
0s4,651, UP 1875 per cent over
sales of $4.285.S06 in the same
period of 1862.
July sales also set a new
record for the month Of $685.
$40, an increase of 17.s per
cent over sales Of $647,79s in
July. 1862. Fifteen stores were
in operation last month as
against IA in, July, 1862.
Dart also said it is increasing
the size Of its store at 1901
Michigan avenue NE. by more
than so per cent. The remodel
ing, to be completed within 10
days, includes new fixtures
throughout the store.
1t also was announced that
construction has begun on
stores to be built in shopping
centers at Rockville, Nd, and
Annandale, Va.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
BUSINESS BRIEFS

Bank CIearings in IS leading
cities in the week ended August
Y totaled $32,323,S14,0O0. up
.0.6% from the previous week
and 1887 above the like week
a year ago.-Dun & BradStreet.
Business Loans by member
banks in the week ended July
81 totaled $35,024, 900, 900, up
SIT million from the previous
week and up $1,S78, 900, 600
from the like week a year ago.
Federal Reserve Board.
Wholesale Food Index, based
on the cost of a pound each of
81 foods in general use, last
week declined to $5.93 from
$5.95 in the previous week.
Dun & Bradstreet.
Crude Petroleum Production
in the week ended August 2
averaged 1905 $50 barrels daily,
down 43,300 from the previous
week and compared with
7,238,610 in the like week a
year ago.-American Petroleum
Institute.
Dubois Chemicals, Inc, direc-
tors approved in principle a
merger with W. r. Grace g. Co.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
Busy Mr.. BROKER

CHICAGO (AP).-Robert
BROKER, president Of Mont
gomery Ward and Co., an
nounced he is resigning his di-
rectorship of Clark Equipment
Co. of Buchanan. Mich, effec-
tive tomorrow. He had been a
Clark director when he came to
Wards in 1861 from Whirlpool
Manufacturing Co. He said the
press of other business prompt
ed his leaving the Clark board.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
North American
Profits Rose in ~

NEW YORK (AP).-J. L. At
wood, president, said North
American Aviation Inc. expects
profits for fiscal 1868 to wind
up in the $3.50 to $4.75 d share
range. In the year ended Sep
TENDER 30, 1862, earnings were
$4.15 a share.
Mr.. Atwood told the New
York Society Of Security Ana
lysts that sales would amount
to about $1.s billion, or about
5000 million above the previous
year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
FPC Reports
On Gas Refunds

The Federal Power Commits.
sion reports that final result,
of the first phase Of its natura,
gas rate refund survey show
that ultimate consumers got
back $73.5 million, or SO pei
cent, of the $126.4 million re-
ceived by their local distribut-
ing utilities from commission
ordered refunds.
The first phase covered re-
funds received by the distribu-
tors between July, 1861, and
November, 1862.
The survey is continuing with
respect to refunds made since
November, 1862.
Consumers in Delaware and
the District of Columbia got
back 100 per cent of the re-
funds received by their local
distributors, the commission
said.
In the IS other States covered
by the study, seven had records
of passing along more than 90
per cent to ultimate consumers
but in two South Dakota
and Tennessee - the distribu-
tors retained all they received.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
Mujor Finance
Net Coins 1920

Major Finance Corp. of Silver
Spring reports that the first six
months of this year were the
most successful in the COM
pany's 11-year history.
Consolidated income before
taxes was up "a per cent over
the same period in 1862 to
$72.503. After payment of pre-
ferTed dividends, this was equal
to 20 cents a common share
against 10 cents a share for
1862.
Volume increased so per cent
to $2,,739.966, total receivables
As per cent to $3,016,431, net
income 80 per cent to $43, 527
and assets 80 per cent to
$2.966,554.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
By JACK LANDAU
Star Staff Writer

The United States Court of
Appeals today sharply criticized
home loan deed of trust pro-
cedures in the District in a
strongly worded opinion which
may change the present home
loan system and result in high
er loan costs to borrowers.
In a unanimous decision
written by Circuit Judge Will
bur K. Miller, the court re-
buked the Perpetual Building
Association-the largest home
lending institution here - for
naming its officers as trustees
over property without notifying
the home owner of the trustees
connection to the association.
This practice, which loan Of
ficials said is prevalent in the
District. results in a clear con-
flict of interests in the trustees
who are supposed to be impair
tial protectors of the financial
interests of both the lending
institution and the home own
er, the court said.
In addition, the court implied
that it took a dim view of
banking officials acting as
trustees at all.
Inform Borrower
The court said that if the
officials do act as trustees, they
must inform the borrower of
their connection with the
lender: obtain his permission
for the appointment, and af-
firmatively prove that despite
the conflict of interest they
are carrying out their fiduciary
duties impartiaily.
Samuel Scrivener, jr., vice
chairman Of Perpetual's board,
said that II the institution is
forced to appoint and pay for
independent trustees, the pres
ent cost of home loans would
be substantially higher" Gene
Hall, assistant secretary of the
First Federal Savings and Loan
Association, said that the ap-
pointment Of independent truss
tees would result in some
increase in the cost Of home
loans" Both Mr.. Hall and Mr..
Scrivener said that the COM
mon practice in the District is
to appoint a trustee who is
connected with the lending in
stitution and generally, not to
inform the borrower of this
connection unless he asks. Both
officials said that they saw no
conflict Of interest with trustees
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08

months ended June 30 earned
81, 225,015 or 70 cents a share
VS.. $5,239,272 or 81 cents in
1862 period.
Auto. Canteen Of Am. in SO
weeks ended June 8 earned
So, 5S3,80 or 80 cents a share
VS.. $1,l00,645 or Is cents in
1862 period.
BOrman Food Stores in year
ended June 90 earned $2,274,-
844 or 90 cents a share VS.,
50, 089, 448 or IS cents in 1862
City Investing Co. in year
ended Aurll 80 earned $1,272,-
235 or $1.01 a share VS.. 81 1884,
1862 or $1.02 in 1862.
Other earnings included:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-08
BY Dow-Jones

United States exports de-
clined about 5 per cent IN june
and imports remained neal
Mays level after seasonal adj
justment, the Census Bureau
reported.
, Seasonally adjusted exports
were valued at $1,813,60 900 in
June, down from Mays 81, 900,-
500, 900 and the year-earlier fig
ure of $1,838,300, 900.
For the first six months OF
this year, the bureau said, ex-
ports ran at a seasonally adj
justed annual rate of $21, ALL
900, 900, up about 2 per cent
from the $21, 129, 100000 annual
rate a year earlier.
Imports in June were valued