davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13

NEW YORK (AP).-A SYM
postum of insurance company
executives has concluded that
life insurance purchases must
be promoted for saving and
investment purposes as well as
for protection.
I'VE must convince the public
that their life insurance belongs
in their basic budget, not in
their discretionary spending,
declared Gilbert W. Fitzhugh,
president of Metropolitan Life
Insurance Co., the Nations
largest.
|. He was a member of a SYM
postum on whats Happening
What's Ahead in the Life Insur-
ance Business" held as part
of the 57th annual meeting Of
the Life Insurance Association
of America.
Mr.. Fitzhugh said that it
must be remembered I'VE are
not dealing in present enjoy
m entS but in future
satisfaction"
our major responsibility
seems to me to be to divert
some of our attention from
competition among ourselves,
important as that is" he added,
ito building the Importance Of
life insurance as a whole in the
economy of our two countries. "
Orville E. Beal, president of
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
SEC Reports More
Individual Sovinqs

The Securities and Exchange
Commission reported that saw
ingS of individuals totaled $50
billion in July, August and
September, compared with $3.S
billion in the preceding quarter
and $6.4 billion in the third
quarter last year.
However, the SEC said that
on a Seasonally adjusted basis,
the volume of savings in the
third quarter actually was low.
er than in the preceding quar-
ter.
Individuals increased holdings
of Government m arketable
issues by SIS billion in the third
quarter, which included a major
refinancing at favorable terms.
Personal holdings of corporate
bonds and notes, however,
dropped $500 million, the sharp
est three months decline since
World War II.
Individual holdings Of corpo'
rate stocks declined $500 mil
lion, although the value Of in
vestmentS in mutual funds anC
other types Of investment com
panies increased $500 million.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
Suburban 7 rust Increases
Dividend and Pays Extra

the new office building in the
Eastover area at Livingston
road and Indian Head highway
in 0xon Hill, Md.
Suburban Trust increased its
capital stock to 871,OO shares
from $4,000 shares early this
year. It distributed a stock
dividend of 1880 shares and
sold the remaining shares to
stockholders. This raised CAPT.
tai to $8,71O,OOO, surplus to ST.
845, 900 undivided profits to
around SS.3 million and total
capital funds to around SIG, 1885,
600.
Deposits reached a new all
time high of $269.3 million Sep
TENDER 80, a jump of 23.5 per
cent from a year earlier.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
Robinow Acquired
By Control Data

Control Data Corp, Min
neapolis-based data processing
and computer manufacturer,
today announced acquisition Of
Rabinow Engineering Co. o.
Washington. Negotiations for
the acquisition had been report
ed previously.
The acquisition agreement
subject to approval Of RabinoW
stockholders and final audit
covers acquisition by Contro,
Data of the business and princi
pal assets of Rabinow Engineer
ing in return for an undisclosec
amount of Control Data StocE
and other considerations.
A research, development, anC
production organization, Rabi
now Engineering has done
extensive work in the field o.
electronic document reading
using electronic scanning. Il
will function as a wholly owneC
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
Mortgage Firm Plans
Falls Church Office

Mortgage Investment Corp. OF
Richmond will open a Northern
Virginia Office in Falls Church
shortly after January l.
1t will be located at the cor
ner of Little Falls Street and
Park Avenue and will be man.
aged by John C. Walden, vice
president and previously assist
ant manager of the company's
business office in Norfolk.
The company is a mortgage
originator for many of the
larger institutional investors and
since its start in 1916 has ex-
banded activities gradually
throughout Virginia. 1t was
primarily a residential mort
gage originator until 1859 when
it added a commercial depart
ment,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
AUTOMOTIVE NOTE
Outlay per aVto for reods,
streets hits new high.

has been and is, a good automo-
bile.
Mr.. Burlingame: 81 think that
we have now hit on a realistic,
practical program to keep Stu
debaker very much in the auto
mobile business"
&E&
The date is firmed up and the
sound has started for Washing
toms 35th annual Automobile
Show, scheduled for a five-day
run in the National Guard Arm
oVy January 29-February 2.
Show chairman is w. Lee
KOetzle and his committee in
cludeS Henry J. Gertler, James
7. F. Money, Joseph B. Paul
and Norman F. Wearne.
Maurice (Mike) Murphy,
executive vice president Of the
sponsoring AutOmotive Trade
Association, will again be the
show manager.
On the theme Of Gravel
More In a." the presentation
will even have something for
m US c-lovers: Trumpeter Al
Hirt.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
Pontiac Chief Sees
Record Sales Ahead

Automobile sales in general
and Pontiac sales in particular
are heading for new all-time
records, a General Motors vice
president predicted here today.
E. M. Estes, general man.
ager Of the Pontiac division of
GIN, said Washington zone sales
also are setting new records.
$50 far this year, we have sold
nearly $4,000 cars in this area,
a gain of II per cent from a
year ago." he declared.
Attending a meeting of Wash
ington area dealers, Mr.. Estes
said Pontiac's market penetra-
ton here is ~ per cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13

Rapid growth of savings in
Washington savings and loan
associations was resumed in
November after a substantial
showdown in the previous
month, but the expansion was
moderately behind a year ago.
This was disclosed today in
the monthly report by President
W. Franklin Morrison of the
District Savings and Loan
League, covering q member
associations.
The associations had savings
receipts of $38, 1886, liz in NoYem-
Der, while savings Withdrawals
totaled $29,213,657, leaving a
net gain of $9,671,455 for the
month. The net gain compared
with an increase of only 1881, :
874 in the previous month and a
gain of $1l, 1854, 1853 in November
last year.
The savings withdrawal rate
for November was 1913 per
cent VS.. 1896 per cent in the
previous month and 71.3 per
cent in November last year.
Loan settlements of the q
institutions, decreased in No
vember to 1,527 mortgages
totaling $3O,239, sis, compared
with 1922 loans for SAG, 297, Ill
in the previous month. The
latest settlements we're ahead of
1903 loans for $28,855,725 in
November last year, however.
Mortage loan repayments of
$39,5l7,751 ran well ahead Of
loan settlements in November
and compared with $50, 979, 478
in the previous month and $685.
143,O57 in November last year.
Mr.. Morrison, who is execu-
tive vice president of First
Federal Savings and Loan Asso-
citation Of Washington, reported
invested savings Of member
associations reached an all-time
peak of 1857, ITO, 1866 in 5O2, 500
accounts on November 30.
. This compared with $1,527,-
753,949 in SOC, 228 accounts on
October 81 and 81, 1893, 532, 848 in
486, 442 accounts on November
80 last year.
Outstanding mortgage loans
also reached a record Of 81 ,592,-
296,462 on November 80, COM
pared with $1,589,564,29 a
month earlier and LAO, 1872 1857
a year ago. The latest total
represented 114,OO7 mortgages
compared with 1888 a month
earlier and 10, 613 a year earlier.
Conventional mortgages &C.
counted for $928.3 million of the
latest record total while CT
mortgages totaled $113.3 million
and FILA mortgages accounted
for $530.6 million.
The associations reported 653
mortgage loans delinquent two
months or more on November
80 VS.. 562 a month earlier and
566 on the same 1862 date.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
Dividend Declared
BY McLochIen Board

Directors of McLachlen Bank
ing Corp. have declared the
usual semi-annual dividend of 81
a share and the usual special
dividend of so cents a share,
President Thomas P. McLach-
len announced.
The dividends will be paid jan
uary l to stockholders of record
December Is.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
ON WHEELS

It isn't as though Studebaker
was going out of business.
Notions that a time-honored
name was falling off the roster
of the Nations automobiles ran
amok after first announcement
that the primary base Of car
building would be shifted from
South Bend, Ind, to Hamilton,
Ontario.
FlurrieS of concern ran
through the million or more
Studebaker owners and an
unknown number of those who
have them on order.
First words from Studebak-
er's new president, Byers A.
BurIingame was adoption by
the Board Of Directors of a
ong-range program for contin-
ued production of Studebaker
automobiles"
Some 200 words later came
assurance of plans Ito retain
the present master service
parts warehouse in South Bend
and across the country, which
are required to provide full
continuity of service and parts
of Studebaker'S many dealers
and owners.
Service, parts and acceSSo-
ries for the million Studebaker
cars now on the road would
continue to be available prompt
ly throughout the United States
and Canada"
La Verne Amstutz, head Of
Studebaker's Washington zone
which contains about so dealers,
said dealer reaction to the new
move "haS been excellent"
I'VE had expected some can
collation. of orders; perhaps
even a request for termination
of franchises" he said. 1--WE
had one cancellation for con-
vertible," he added, land that
was because the dealer didn't
feel he needed two soft-topS for
display with winter coming on. -
There also was early, but
fleeing concern among Merce'
deS-BenZ owners around Wash
ington because of Studebaker'S
tie-in with the German-built
class car. Mercedes-BenZ Sales
Inc, is a Studebaker subsidiary
A number of Studebaker dealers
also handle the NIB.
: Blaine Dorset, who heads the
eli G ht-State-area Washington
zone for Mercedes Csc dealers
FASTENED with reinsurance anC
r emphasis that the Studebakel
Il move to Canada has nothing t
/ do with the Mercedes-Beni
: distribution and service system
: Studebaker's inability to picl
n up more Of the automobil
d market in recent years is some
thing beyond my meager ken.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
Sovinqs in D. c. SCI Associations
Resume Rapid Rise in November

subsidiary of Control Data
Corp. with Jacob Rabinow as
president.
The announcement said Rabi-
now Engineering's efforts in
development and manufacture
of its character and pattern
recognition systems will be
further expanded. Control Data
produces imput-Output equipment
including magnetic tape trans
ports, line printers, card read
ers and display devices for use
with Control Data computer
systems"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
PROTECTION IS GUARANTEED
Life Insurance Also Is Investment

Richard X. Paynter, chair
man of New York Life Insur.
ance Co. told the meeting,
quite simply and undramati'
cally, l do not foresee a major
change in the composition o.
our industry's investment port
folio in the years ahead" Dur
ing the last Is years most insur
ance company money has beel
invested in industrial bonds an,
mortgage loans.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
Abbott Labs Set
To Acquire Firm

CHICAGO (DO.-Abbott
Laboratories plans to acquire
the NJ & R Dietetic Laborator-
les, Columbia, Ohio, through
the issuance of more than $42,-
100000 Of presently authorized
but unissued stock, George r.
Cain, president announced.
NJ & R Dietetic is a producer
Of speciality food products in
Guiding "Similac," a prepared
infant formula, and "pream," a
non-dairy coffee cream.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13

able December 20 to stockhold-
erS of record December Is.
President John Middleton
reported that assets Of nearly Sc
million have increased more
than SO per cent in the last five
years. In 1885, its founding
year, the institution had $157 SIS
of assets.
Mr.. Middleton said the bank
has played a major part in
development Of the Herndon
area.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13

Prudential Insurance Co. Of
America, second largest in the
country, said the insurance
industry must do more basic
research in the accumulation
and understanding Of reliable
knowledge about the business
and its environment.
I'm this atmosphere Of fantas
tically rapid change it is essen
tial that we be in a position t,
take the measure Of our envi
ronment," he emphasized.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
New Zinc Mine

ST. LOUIS (AP).-American
Zinc, Lead and Smelling Co. of
st. Louis and its subsidiary,
American Zinc Co. of Tennes-
see, announced authorization of
about 81 million for a new zinc
mine near Mascot, Tenn.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13

earnings this year.
Operating income for the
year will reach a new all-time
record Of more than SIS mil
lion. they predicted.
The year-end dividends will
be paid December 81 to stock
holders of record at the close
on December 16. The bank has
declared 1868 dividends Of
$l.3O a share amounting to
more than 81 million in cash.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13

In addition to the regular
quarterly dividends of Is cents
a share, the bank has paid 5
cents a share each quarter. In
effect the directors now have
incorporated this into the regu-
lar quarterly rate.
Mr.. Sherwood pointed that
contracts now have been late
for both the new bank and
office building in Rockville and
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
Herndon Bank Votes
Yeor-End Dividend

Directors of the Citizens Ma
tional Bank of Herndon have
declared an annual dividen of G
per cent on capital stock, pay
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
By DONALD b. HADLEY
star Financial Editor

Directors of Suburban Trust Co. have increased the quar-
tery dividend rate 30 cents share from Is cents paid pre-
vouSy and also declared extra dividend Of cents share
An announcement from Board Chairman T. Howard Duckett
and President Robert j. Sherwood today said the increased
dividends voted because of substantial gain in the banks
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-12-13
Owners Assured
By Studebuker

By CHARLES YARsRoUeH
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-25
Test Ban Pact Initiu|ed
THE ANNOUNCEMENT

The special representatives Of the President Of the
United States Of America and of the Prime Minister Of
the United Kingdom w. Averel Hartman Undersecretary
OF State for Political Affairs of the United States and
Lord Hailsham Lord President of the Council and Min
lister OF Science for the United Kingdom visited Moscow
together with their advisers on July a.
Mr.. Hartman and Lord Hailsham were received by
the Chairman of the Council of Ministers of the Union
OF Soviet Socialist Republics N. S. Khrushchev who
presided July Is at the first of series of meetings
to discuss questions relating to the dSconnuance of
nucear tests and other questions of mutual interest
The discussions were continued from July is to July
Is with A. A. Gromyko, Minister of Foreign Affairs Of
the Union of Soviet Socialist Republics During these
discussions each principal assisted by his advisers
The discussions took place in a businessike cordial
atmosphere. Agreement was reached on the text of
treaty banning nucear weapons tests in the atmosphere
in outer space and under water This text is being
published separately and simultaneously with this COM
munique. It initiated July Is by A. A. Gromyko
Mr.. Hartman and Lord Hailsham Mr. Hartman and
Lord HailSham together with their advisers will leave
Moscow shortly to report and bring back the initiated
texts to their respective Signature of the
treaty Is expected to take place in the future
Moscow. ,a.-- l- =.
The heads of the three delegations agreed that the
test ban treaty constituted important first step toward
the reduction Of international tension and the strength
eng of peace and they look forward further progress
in this direction.
The heads of the three delegations discussed the So
Wet proposal relating to pact Of nonaggresSon between
the participants in the North Atlantic Treaty Organza
ton and the participants in the Warsaw Treaty The
three governments have agreed fully to inform their
respective allies in the two organizations concerning these
talks to consult with them about continuing discussions
this question with the purpose of achieving agreement
satisfactory to all participants brief exchange of views
also took place with regard to other measures directed at
a relaxation of tension. fHt--s--
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-25
Joint Chiefs Approval
Of AT est Bon Seen

and their chairman, Gen. Max.
well d. Taylor, are expected To
support or acquiesce In the
treaty.
The chiefs are sure to be
called to testify. Chairman
Russell of the Senate Armed
Services Committee said yes
terday after questioning Secre-
tary of State Rusk about the
treaty for two hours.
The Joint Chiefs, who met
with President Kennedy at the
White House yesterday, have
kept careful track of test-ban
negotiations from the last dec
ade. Almost always the chiefs
have insisted that this country
must continue to test atomic
devices or risk loss of its lead
in nuclear weapons.
The opposition of the present
chiefs made 1t clear that a gen.
eral ban would be opposed Wig
orously by them in testimony
and could have been enough to
tip the Senate away from the
See CHIEFS, Page "A
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-25

from four bronze propellers
costing $4,000 each to the
wine. jewels. the sealed furs.
the diamonds and even tn e
Chrysler Corporations dream
car" he noted.
I'm the main salon bulkhead.
there is a solid silver plaque
8 feet long. 4 feet wide and
314 inches thick" he said. "It
comes off first. A gold statue
Of Admiral DORA comes off
second. On the third day. we'll
plant charges on the safe. 1t
contains $1.116.O00 in cash and
SO million in jewels"
Mr.. Taylor noted that only
one commercial attempt had
been made to salvage the An
drea Doria since 1t sunk.
"a Connecticut salvage COM
pany tried to raise it for Lloyds
Of London" he said. They
lost five men. Since then, seven
divers have drowned
at the Site"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-25
BY TOM OCHMTREE
Associated Press staff Writer

LONDON. July rs. - The
agreement reached in Moscow
today for a partial nuclear test
ban came after q diplomatic
tug-of-war lasting almost since
the atomic age began.
Before the United States,
Britain and the Soviet Union
achieved this understanding
their negotiators piled UP
mountains Of words at United
Nations headquarters and in
Geneva, Washington, London
and Moscow.
Over and over again the
negotiators wrestled with this
problem. Sometimes they took
q few steps on the road TO
agreement. Then months went
by in deadlock.
Geneva, where most Of the
maneuvering for the past five
years took place, became q Sec
ond home to test ban experts
from the three countries.
In the end the experts them
selves fought to keep from be-
coming dizzy and out Of touch
with reality. Some gave the
impression they had almost lost
sight Of the goal. For them the
negotiations had become q way
Of life.
And in the end the three
powers settled for half a loaf
rather than none. They agreed
to end testing everywhere ex-
cept underground, where cheat
ing is most difficult to detect
without inspection.
Yet, limited agreement and
all. 1t Is an occasion for re-
joicing, most diplomats agree.
The Moscow understanding, In
their view, represents the most
hopeful East-West accord since
l945. One Western source said /:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-25
BY RICHARD FRYKLUND
Star staff Writer

The limited Than treaty
under negotiation in Moscow
has q good chance of being &C.
cepted by most If not all Of the
Joint Chiefs of Staff.
This Is a sharp change from
the outlook when the proposed
ban on testing in the atmos-
phere, under water and in
space, became a lively issue last
month.
At that time the Joint Chiefs
were on the record, in classified
statements. firmly against q
general test ban. The service
chiefs and secretaries also were
on the record In public in OPP
position to a ban on testing in
the atmosphere.
If an actual treaty goes to
the Senate for ratification
soon, this opposition almost
certainly will fade.
With one possible exception,
Gen. Curtis e. LeMay, Air
Force Chief Of Staff, the chiefs
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-25
TUG-OF-WAR ENDS
Accord PIeases Diplomats

Considering the present
state Of relations between Mos
COW and Picking. the test ban
could be the first real thaw
in the cold war"
Much has been strapped dur
ing the years Of negotiations
The chief casualty is the con-
cept Of q giant international
control system designed to pre-
vent treaty violations and set
the pattern for enforcing gen.
eral disarmament.
Control arrangements, in
GLIDING on-site inspections,
presumably would be necessary
II the powers ever banned un-
derground tests or started dis
mantling their massive military
machines.
The first phase OF the latest
nuclear test ban negotiations
extended from October 81, 1858,
to September is. 1861.
Only three powers - the
United States. Britain and the
Soviet Union--engaged in those
negotiations in Geneva.
At one time they secured
agreement on a preamble, II
articles and two annexes OF q
draft treaty. But they never
got agreement on setting up
international enforcement ma
chinery.
The United States and Brit
ain originally wanted ITO To
1870 international control posts
scattered throughout the world
and international inspection
teams TO go to the site Of sus-
picious disturbances. But the
Russians would not have this,
saying the West was really try
ing TO plant spies In the Soviet
Union.
The talks we're conducted
during a voluntary moratorium
on testing by the three powers,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-25
Syncom Satellite
Delayed Again

CAPE cANAvERAL, Fla,
July rs (AP) Trouble in the
Delta booster rocket forced a
third postponement today Of an
attempt to launch the Syncom-
2 communications satellite into
a 2,S00-mile-high orbit where
1t would appear TO hover over
one area Of the earth.
The countdown had advanced
smoothly TO within four min
utes Of the scheduled launching
time when the trouble in a
gynoscope developed. The shot
was rescheduled for tomorrow
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-25

They were blasted when thu
Russians on September /
1861, began a series Of around
40 tests, including one Of ovei
so megatons.
Hope was at its lowest ebb
The three power talks finally
broke down for all practica
purposes on September IS, 1861
Pressure for a test ban KEEP
building up. however. More
and more scientists said thu
powers at least should stop thu
explosions in the atmosphere
surface and in waterfall types
of blasts which cause radioac-
tive dangers to health.
The U. N. General Assembly
insisted a new effort be made
to get agreement. This pro-
duced the 17-nation disarma.
ment conference which re-
sumed In Geneva March IA
1862. Eighteen countries wer,
named to 1t, but France re-
fused to take part.
While the smaller nations a
the table sought for ways II
produce an agreement. th'
United States, Britain and tn,
Soviet Union begged down II
the same old arguments,
After Is months, the confer,
ence produced no test ban. Tit
old on-site inspection issue wa
the stumbling block again. tn,
conference now is in recess.
The Moscow talks with new
negotiators for the West-W
Averell Hartman for tn
United States and Lord Hail
sham for Britain - simplifieC
the problem by putting the un
derground test question aside
The tests in the other en-
vironments. which the Moscow
accord prohibits, are the one
which would cause healtl
hazards and produce genet,
damage.