davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-04

come is fixed, the management
charge could be rather sub
stantial in relation to total in
come.
Income Funds - These
strive for high yield for their
h ar e holders. They invest
largely in companies that pay
out a major part Of their earn
ings. Such companies show lit
tie growth, and risks in a free
economy being what they are.
a company that Is not growing
is in danger of declining.
Industry Funds These
spread their money over many
companies In one industry.
However, diversification simply
for diversification's sake is not
always advisable or profitable.
1t probably is better to buy
into a common stock fund
which attempts to pick out a
few of the most desirable COM
panies in numerous indus
tries.
! Geographical Funds These
concentrate their investment in
one State, such as Florida, or
one area, such as the South
west. Since the managers are
confined to one area and yet
must obtain diversification,
They may be forced to buy
stocks not as promising as 9TH
ers they could buy If they were
Operating nationally.
/ Special Situation Funds -
The managers Of such funds
seek out companies in trouble
financially, whose stock 4
available cheap. When th'
! trust finds such a company 4
buys into 1t and then strives
to help with management ad.
, vice or new financing. the OBJ
ject, of course, being to in.
Grease the value of the stock
Results Of this type of invest,
ment can be very good or very
bad. Since these funds are Sc
speculative, they would moi
seem to be desirable for the
average investor.
Foreign Securities Funds =
There is often more risk II
foreign securities than in those
lof American companies. One
risk is the political instability
and the unpredictable taxinG
policies of the country con.
cerned. In one country an ex.
ira tax was imposed on cor
: porations just before Christmas
one year on the grounds thaI
! 1t seemed like a good way Il
raise additional funds.
The investor who wants {
) stake in foreign operations car
: obtain it by buying into lead
( ing American corporations tina
have interests abroad.
Common Stock Funds =
I These make up, by far. tn
largest category. Stock fund
E used to be separated into run
S of-mill stock funds and 50
: called growth funds. More re
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-04

trust, which is the older and
less publicized, and the OPEN
end or mutual fund, which is
newer almost always agrees
sively sold, and the kind you
are more likely to hear about.
Closed-end means that at some
time in the past the trust sold
a block Of shares TO the public
but makes no continuous offer
ing Of additional shares. Thus,
the number of shares outstand-
ing is constant.
Open-end trusts, or mutual
funds, which have become very
popular, are based on a diff
ferent idea. open means
that the trust stands ready at
all times to sell new shares or
redeem old ones. Thus, the
number of outstanding shares
of an open-end fund is always
changing.
ClOsed-end Funds The
tendency To sell either at q
premium or discount from net
asset value is a distinctive
characteristic of closed-end
trusts, ~
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-04
Much Spent on Research

WIZ" SPSuA VII NSSSeiSu
The truth is that most in
vestors operating on their own
are not likely to show as good
results as the better managed
investment trusts. The Dow
Jones Industrial Average went
from a level of 1855 in 1949 to
over TOO in 1861. But consider
that there are 80 stocks that
comprise the Dow-Jones Indus
trial Average. OF these 30. some
have gone up a great deal fast
er than others.
Think how well off the in
weston would be If he could
consistently have kept invested
/ in the ten stocks out of the
average that did the best.
Yet this would be no simple
matter. Investment trust man.
ayers spend hundreds of thou
sands of dollars a year on re-
search. They have at hand the
wealth of-detailed information
that modern corporations make
available, plus computers to dc
the figuring. Yet most invest
ment trusts do we'll If they
beat the Dow-Jones Average.
/ Newer Growth Funds - Thii
is one group that probabl!
should be separated from thu
main category Of common
stocks funds. 1t Is composed o
funds that concentrate on new
fields where there are though
to be the greatest chances o
growth, and probably NOR
than average risk. Since fast,
growing companies pillow bacl
most of their earnings, the!
pay out very little In dividends
So these newer growth fund
yield very little.
While these newer growth
funds may serve a purpose anC
might well be a part of thu
Investors portfolio. 1t is ques.
tionable whether they shoulC
be given a major role.
Selection - There are two
main criteria in selecting al
investment trust. First. are thu
managers Of the trust trying Il
invest the money entrusted Il
them the way you would inves
1t yourself2 For most investors
this means putting the none!
into common stocks Of gooC
quality and aggressive compa'
mics. Second. are the manager
of the trust doing a bang III
Job? In other words, is thei
investment record better thar
the average record Of trust
with similar detectives?
Other Measures to Apply
! Once these tests are met
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-04

there are other measures To-
apply. Is the sales charge rea-
sonable2 Is the annual man.
agement fee q modest one? Can
shares be purchased in con-
venient amounts, assuming you
do not wish to make q large
lump-sum investments Does the
trust permit reinvestment of
dividends and capital gains dis
tributions conveniently and in
extensively?
Sponsorship is important.
Who manages the trust and
why?
An outstanding long-term
performance record is impor-
tant. In addition. the investor
may feel better about putting
in his money If he knows that
| the managers have thought
enough OF the trust 70 put
their own money In also.
Which companies have done
the bestP There are, in fact,
several tests that should be APP
piled to the management record
of an investment trust. Ideally,
the net asset value per share
should go up with-or faster
than-the stock market as a
whole and decline more slowly
In addition to the rise and de-
cline in the value Of the shares,
you naturally must take &C
count of the amount of capital
gains paid out. Most investors
should reinvest these capital
gains but In some compilations
of investment trust record:
these gains are listed sep
! arately. Dividends should b
| considered Of less Importance
! by most investors.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-04
By JOHN W. HAZARD and LEW G. coIT

Shopping for investment trust like shopping for
anything else. There types and brand
the market Start with definitions and characteristics
Net Asset Value per ShareThis the dollar value
the securities the fund divided by the number Of It's
shares outstanding in the hands Of the public.
Capital Structure-The types the closed end
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-04

copyrlght@ 1862. by the Kipllnger
Washington Editors. Inc. Condensed
from The Kiplnger Book on Investing
for the Years Ahead" published ~
Doubleday a Co., Inc.
Tomorrow: Investment clubs.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-04

SPSAA SAAA va ~ASoSAt WAsAA NAAetA
acteristics to match.
obieetives Are Detailed
Here are typical detectives:
. Long-term growth of both
capital and income. Current in
come not stressed.
. Long-term growth Of capital
through use Of smaller,
younger and more speculative
companies, ignoring income en-
tirely. 4.
. High current. income. Capt.
tai growth not stressed.
. Concentration on a particu-
lar industry or geographical
area.
. Concentration on q particu-
lar type Of security other than
common stocks, such as bonds
or preferred stocks.
. Heavy investment in a few
special situations; that is. COM
panies whose stock is thought
to be particularly undervalued
for some special reason.
. Concentration on foreign Sc
curities; e.g. the various Cana
dian funds.
Common stock funds keep
nearly all their capital invested
| in common stocks, although
they may switch some stocks
into cash or bonds when a de-
fensive position seems appro-
pirate.
Balanced funds generally
keep a quarter to a half of
their capital in cash, bonds or
preferred stocks. The objective
is to obtain protection against
declining stock prices.
Bond and preferred stock
funds seek diversification
among various types of fixed
income obligations. There is
some specialization; that is,
some funds stick to high grade
bonds, others to speculative
bonds and so on.
Income funds try TO invest in
high yielding securities. gener-
ally common stocks.
Specialized funds concentrate
on some particular segment of
the investment field Som e
funds confine themselves to one
industry or group Of industries.
Others buy into companies in
one part of the country or
abroad. Some hunt for COM
lpanies that are in trouble and
could be improved in one way
Tor another. These last are
known as special situations.
$50 to Choose From,
/ All together, there are some
1850 investment trusts to choose
from. While the choice is wide
1t may be narrowed down by
sticking to two detectives: I'd
lpick a trust whose investment
objectives correspond to your
own; 10 pick the best manage
ment you can find.
The funds that will be recon-
mended are primarily common
stock funds whose objective Il
ownership of q broad selection
of common stock in well-man-
aged, aggressive corporations.
Balanced Funds--A balanced
fund might be useful to a per-
son who wanted complete man
agement OF all his funds,
including fixed-income invest
; ments.
One disadvantage to the bal
anced fund, and also to the
bond and income fund, is that
the management fee Of 0.5 pei
cent takes a considerable slice
! of the income from bonds and
preferreds.
But the main objection to the
; balanced fund is that 1t doe,
: not provide as big an opportu.
! nifty for gain as does the stocl
fund.
Bond and Preferred steel
Funds - These are a means o.
! securing diversification In fixeC
! income obligations. Since Their
: is no growth In straight bond
: or preferreds, and since the in,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-04

fortune. The trader who is in
and out of the market probably
won't do as we'll.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-04

Gently. however, almost all
common stock funds own
growth stocks. In fact, they
are all competing vigorously for
the higher grade companies
that give promise Of the great
est growth.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-04
Booms and Declines

Discounts generally narrow
during booms or rising markets
and widen during declines. A
few very popular closed-end
companies additionally sell at
small premiums. When you sell
closed-end shares, you sell on
the open market, going through
a broker who charges another
commission Of / per cent or
2 per cent.
Open-end Funds These
make up q very fast-growing
type of security. Investors buy
more shares each month than
they cash in. This increase in
ownership seems to go on
month in and month out, re-
gardless Of whether the stock
market is going up or down.
All mutual funds have only
one kind Of stock outstanding,
common stock. The mutual
fund itself supplies new shares,
through statesmen or brokers,
to all who wish to buy. 1t also
takes back old shares from
those who wish to sell. The
price the investor pays when
he buys a mutual fund is the
exact net asset value per share
at the time plus a -ales COM
mission.
The sales commission gen.
orally runs around 8.5 per cent
or 9.5 per cent of the net asset
value.
Most open-end trusts make
no. charge for redeemine
shares, although some charge
a nominal fee, usually 0.5 pei
cent. Very often, the trusts
that charge this redemption
fee are the ones that charge
no load,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-04
Management Fee chOrged

NO-IOad Mutual Funds -
no-load fund is one Of the
few things in this world that
you can buy without paying q
sales commission, directly or
indirectly. Yet. except for the
lack Of a sales charge, these
no-load funds are run just
the way the others are. AL
mutual funds, open-end as well
as closed-end, whether a sales
commission is involved or not
charge q management fee for
handling the shareholders
money. In most cases, this fee
is 0.5 per cent per year Of the
capital under the funds man.
agement. although 1t can be
higher or lower.
Now, while the managers OF
q no-load mutual fund receive
no part OF any sales commits
sion, they still receive the
management fee and thus art
compensated for investing thu
stockholders money. In add.
ton, most managers Of no-loaC
mutual funds are investment
counseling firms who handle
large sums for private inves.
tors. For such firms, the mu
tual fund may just be a sid
line. although a useful one.
Investment Detectives =
Whatever your inclinations
there are investment trusts
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-04

moneys ready for you at First & Citizens.
Our low interest rates are the same as al
ways-and we give you up to SO months to pay.
We also offer used car financing and re-fnanc-
ing of your present car at low interest rates.
Come in to see loan officer at any one of
our nine Offices and then go car-shopping
with that wonderful cash feeling" that
makes dealing for a car so much easier.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-08
Gen. Eustuce Peixotto, IS,
Retired Assistant Adiutunt

Brig. Gen. Eustace M. Peix-
otto, USA (retired), a former
assistant adjutant general of
the Army, died Thursday at
Walter Reed Hospital after a
heart attack. He was rs.
A native of San Francisco.
Gen. Peixotto was graduated
from the University of Cali
fornia at Berkeley in 1908.
He was commissioned an in
fantry lieutenant in 1917 and
served as an infantry officer at
various posts in the United
States and the Philippines.
He came to Washington
shortly before World War II
when he was transferred to the
Adjutant General Corps. In the
early war years he was chief of
Army recruiting.
Gen. Peixotto held the post
of assistant adjutant general
from 1916 until he retired from
the Army in 1913.
During his career, he was
awarded the Legion of Merit
and the Army Commentator
decoration.
He leaves his wife, Catherine,
Of 1919 Fessenden street NV,
the home address; three sons,
all in the Army, 1t. Col. James
NJ, Of Sandia, N. Mex; Maj.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-08

house In Baltimore and did
other work for the Federal
Government.
After attending the Sidwell
Friends School and the Peek
skill Military Academy in New
York State, Mr.. Acker entered
Lafayette College in Easton,
Pa, to prepare for an engi-
neering career. He changed his
mind. however, and came TO
Washington to study law.
For two years he was an
assistant law librarian for the
United States Supreme Court.
A captain in the Army dur
ing World War I, he was a
member Of American Legion
Post Is. He also belonged TO
Sigma Chi and Phi Delta Phi
fraternities.
He leaves his wife, Florence,
OF the home, 43ll Sixteenth
street NV. and two step
daughters. Mrs. Dorothy T.
Koehler. 250l @ street NV,
and Mrs. Eleanor T. Gardner
Of the home.
Services will be at Joseph
Gawler's Sons Funeral Home,
Wisconsin avenue at Harrison
street NV. at l pm. Monday.
with burial in Arlington Gene
terry.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-08
Roger {. Smith,
Treasury EmpIoye
For 40 Years

Roger E. Smith, 81, who re-
tired from Government work
after 40 years of service and
then opened a coin laundry,
died of a stroke Tuesday while
mentioning in San Francisco.
Mr.. Smith, a native Of Caro-
line County, Va, owed to
Washington as a child. He
began working for the Govern
ment at the age of IT, joining
the Treasury Department when
he was 81.
He retired from the Treasury
Department four years ago, at
which time he was budget and
fiscal director in the Bureau
of Accounts.
With his son, Richard A., Of
1918 Thirteenth avenue, Ia
koma Park, Md, the home adj
dress, Mr.. Smith opened the
R&M Laundri-Mart at 62l
Pennsylvania avenue Sc. The
business soon expanded to in
clude three other Laundri-
Marts in the area.
Besides his son, Mr.. Smith
leaves his wife, Margaret A.,
Of the home; a daughter, Mrs.
Joan S. Mccoy, of 1902 Lega-
ton road, Hyattsville, and a
grandson.
Services we're to be a 2 pm.
today in the Warner Humphrey
Funeral Home, 8434 Georgia
avenue, Silver Spring. Burial
was to be in Fort Lincoln
Cemetery.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-08
w. H. Huussner,
Restuuruteur and
Art Connoisseur

BALTIMORE, June 8 (AP)
William Henry Haussner. So.
Baltimore restaurateur and art
collector whose restaurant Is
damned with paintings and
sculptures. died yesterday at his
home after a long illness.
- The Haussner restaurant,
opened and operated jointly by
Haussner and his wife since
1895. Is we'll known throughout
the country for It's cuisine anf
its art collection. which includes
4iofiginal paintings by such art
-ists as Van Dyck. Bouguereau,
Dirk Meester. Rembrandt, Sou
lacrois. Cain. Shreyer and
Brown.
The most spectacular acqui-
sition In the collection was q
vast canvas covering $4,000
square feet entitled the PAN
theon de la Guerre," an heroic
panorama commemorative the
First World War. The paint
Ing, by 1877 French artists, was
bought sight unseen by the
Haussners at auction in 1852
for SO, 400.
II later was donated 10 Me-
mortal Hall In Kansas City and
dedicated In special ceremonies
attended by the Haussners, for
lmer President Truman and
then President Eisenhower on
November IL. 1859.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-08
Carl J. Pooh, SO,
Devised Transport
Of ButtIeship Gun

Carl j. Pooh. So. who de-
vised a method for transport
ing the largest battleship guns
across land, died of cancer
yesterday at the Washington
Sanitarium.
Mr.. Pooh received a high
Navy commentator in 1857
for his invention, which allows
the guns to be sent to ship
yards by flatbed railroad cars
instead of by barge.
A native of Washington, he
enlisted in the Navy in 1915
and Joined the Naval Gun Fac
tory in a civilian capacity after
World War I. During his
career as supervisor Of the
bureau Of supplies and accounts
at the gun factory, Mr.. Pooh
received many awards for in
novations in administration
and procedure. He retired in
1858.
He leaves his wife, Alice c.,
Of 28l3 Bellevue terrace NV,
the home address; a daughter,
Mrs. Thomas w. Sandoz, of
1921 Brookville road, Chevy
Chase; three sisters, Mrs.
Pauline Loveday, Of 800 Allison
street NV; Mrs. George Parr,
OF Baltimore. and Mrs. Mary
Cemann, of Niles, Ohio; two
grandchildren and one great
grandchild.
Services will be at 1915 pm.
Tuesday at st. Adams Episco-
pal Church. Wisconsin and
Massachusetts, avenues NV,
with burial in Arlington Gene
terry.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-08
Miss Reisinger,
EXPO Employee

Miss Charlotte L. B'Reisinger,
SO, a native and lifelong resi-
dent of the area, died Thursday
in the Whitehall Sanitarium in
Falls Church, Va.
Miss Reisinger was the
daughter Of the late John G,
and Dorothea Reisinger, own
ers of Reisinger's ice cream
shop and bakery at 235 @ street
NV, a Washington landmark
for many years.
In 1908, Miss Reisinger join
ed the staff of the Government
Printing Office. She was chief
cost clerk in the division of
accounts at the time of her
retirement in 1914.
Miss Reisinger was a life
long member of First Trinity
Church.
She leaves two sisters, Mrs,
H. B. Hartung of 239 North
Highland street, Arlington, and
Mrs. Obelia Herold of Balti-
more.
Services will be held at 10
am. Monday in Ives Funeral
Home. 2847 Wilson boulevard,
Arlington. Burial will be in
Prospect Hill Cemetery.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-08
Mrs. Srumek,
Central Iumnu,
OAR Member

Mrs. Christine Quick Sramek.
a lifelong Washington area
resident. died yesterday at her
home at 3ll4 Fifth street, Arl-
ineton. after a long illness.
Born In Loudoun County,
Va. she attended old Central
High School In Washington.
the George Washington Uni
yersity School Of Nursing and
Washington College OF Law.
She was past matron Of the
Mary Washington Chapter .
Order Of the Eastern Star and
was a member OF the Thomas
Nelson Chapter. Daughters Of
the American Revolution.
She leaves a brother, O. Will
lard Quick Of Miami: and a sis
ter, Mrs. Paul w. Bowman Of
the home address.
Funeral services will be held
at 2:l5 pm. Monday at ST..
Georges Chapel. Fairfax drive
and Nelson street, Arlington.
Burial will be private
The family requests that
sympathy be expressed In the
form Of contributions 10 the
Columbia Polytechnic Institute
for the Blind.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-08
A. H. Williams,
Phone Employee

Alexander H. Williams, So. q
Chesapeake g. Potomac Tele-
phone Co. employee for the last
10 years. died after a heart at
tack Wednesday at the WASH
ington Hospital Center.
Mr.. Williams was a building
attendant at the company's
offices at 725 Thirteenth street
NV.
He attended Armstrong High
School and was a World War
II veteran.
Mr., Williams leaves three
sisters, Miss AMI Williams of
4528 Fades place NE, the
home address; Mrs. Elizabeth
Packs Of 46l Iowa avenue NV,
and Mrs. Ruth Adams Of 14l5
Columbia street NV. and two
brothers, Richard of 1913
Sherman avenue NV. and
William H. Of SO Allison street
NV.
Services will be at 1880 pm.
Tuesday at st. Luke's Baptist
Church, 5605 Colorado avenue
NV. with burial in Arlington
Cemetery.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-08
DR.. Merrimun,
Retired Dentist,
In Area Since II

DR.. E. Eugene Merriman, SO.
a retired Washington dentist,
died at his Silver Spring home
Thursday after a series Of
strokes.
A native of Huntington, Ind,
DR.. Merriman came to WASH
ington in 1917 as a member of
the Army Quartermaster Corps.
After his discharge he enrolled
at George Washington Univer-
sity where he received a bach
elor's degree in 1922.
In 1929, DR.. Merriman re-
ceived his dental degree from
the University Of Michigan and
was a faculty member there
for the next year.
Returning to Washington in
1881, he opened offices in the
Medical Building at 1925 I
street NV. He retired in 1859.
DR.. Merriman, who lived at
l0l5 McCeney road, was a mem
Der of the National City Chris
tan Church for IS years. He
also was a member Of the Mar
win Memorial Methodist
Church, the American Dental
Association, District of Column
bia Dental Society, the Lafay-
cite Masonic Lodge and was a
past president of the Washing
ton Civitan Club.
He leaves his wife, Margaret,
Of the home address, and three
sisters, Mrs. George Heitz and
Mrs. Jesse Barrick of Hunting
ton, Ind, and Mrs. George
Spencer, of Marion, Ind.
Services will be at / pm.
Monday at the Warner Pun
phrey Funeral Home in Silver
Spring.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-08
Harold Acker, IS, Lowyer
Here for Half Century

Harold K. Acker. rs. a WASH
ington attorney for nearly half
a century. died yesterday at
the Washington Hospital Gen.
ter.
Mr.. Acker had his own prac-
tice from the time he received
his law degree from George
Washington University in 1914
until three or four years ago.
A native Of washington. he
was the son of Franklin and
Elizabeth Hoskinson Acker. His
father operated Acker & Co., a
stone contracting firm which
built the city hall and court
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-08
Pfc. Neil MucIver,
Killed in Wet Nam

Funeral services will be at 3
pm. Tuesday In the Fort Myer
Chapel for Pfc. Neil X. Mac
liver. who was killed In a Wet
Cong ambush In Wet Nam on
May 20. He was the son OF Mr..
and Mrs. Donald O. MacIver.
$500 New Hampshire avenue,
Silver Spring, Md.
The body Of Pfc. MaeIver, who
attended Montgomery Blair
High School in Silver Spring
and the Augusta Military Acad-
envy In Fort Defiance. Va, was
TO arrive this afternoon at
Dulles Airport. Burial will be
in Arlington cemebery.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-08

Ernest D.. of 3107 Old Domin-
ion boulevard, Alexandria. and
Roland E.. of 20l3 Quantico
street, Arlington, and nine
grandchildren.
Services will be at IL am.
Tuesday at Fort Myer Chapel,
with burial in Arlington Gene
terry.