davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
Foreign Stock
Tax Date SET

NEW YORK DD. - The
Treasury announced that trans
actions on listed exchanges
affected by the tax on pur-
chases of foreign securities as
proposed yesterday by President
Kennedy would not be subject
to the tax If 1t is approved by
Congress until after August is.
All other affected tranSac-
tons would come under the tax
as Of July 10 the date of the
message.
The tax would be In the
form Of a levy Of Is per cent
on the value Of any purchases
of foreign stocks from foreign
issuerS or holders. The tax rate
in the case Of bonds and other
debt securities would be gradu-
ated from 2.75 per cent to is
per cent depending upon
maturity.
| The proposed tax would re-
main in effect only through
1865.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
FAIRBANKS CORP,
PACT CUTS OFF
z EX-OFFICIALS

NEW YORK (DD-The
new management Of Fair
banks whitney Corp.
which has been trying to
cut out the expense Of
carrying former officers as
consultants has negotiated
contract settlements with
two Of then-Alfons Lam
do, q Washington attorney,
and Robert c. Finkelstein.
They are to receive o
single payment Of $25, 900
each. Upon resigning as
officers and directors on
May 80, 1862, the two were
to receive salaries Of $685.
900 q year each for seven
years. They had nearly six
years left at that rate
when their salaries were
stopped July /. ~. 49,.
However, Fairb q n ks.
Whitney failed to come to
terms with two other for
mer executives and on July
! also halted salary pay
ments to them. The two
are David Karr who was
receiving $4,000 a year,
and Aaron L. Jacoby, who
was receiving $4,000.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
Germuny's Grain
Price May Ease

BONN, Germany (AP).-High
grain prices In West Germany,
long an obstacle to world trade,
look Is If they may be dropping
at last.
II they do, they will give a
boost to West European unity,
to Germany's own industry and
to President Kennedy's effort
for @ major expansion of inter-
national commerce.
This month West German
farmers are getting about $S.2S
o bushel CATS marks a toni for
their wheat. The price in Chi
'caso is about $3.50 q bushel.
German costs are high be-
causet farms are small and un-
able to use machines in q big
scale.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
Bank Loans Follow
Divergent Paths

Activity in commercial and
real estate loans of Washing
tons three largest banks fol.
lowed divergent paths In the
week ended July 10, the Rich
mond Reserve Bank declared.
Commercial and industrial
loan Of Riggs National, Arneri-
can Security g. Trust and Me-
tional Bank Of Washington
dipped to $l46,52l 900 on July
10 from $l47,41l,O 900 q week
earlier and were behind $l49,-
416,000 on July II last year.
Their real estate loans, how
ever, rose to 1922, $4,000 on
July 10 from $210,070, 900 q
week earlier and were far above
$l78,S05,000 a year earlier.
Their overall loan total was
$690,522,000 on July 10 vs..
$685., 1000 q week earlier and
$500. All 900 a year ago.
Their deposits declined to
1884, 71S,0OO on July 10 from
81, $40, 727.000 a week earlier
and $l,27o,570,000 on the like
1852 date.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
Study Of Insurance System
To Cut Foreclosures Urged
HHFA Seeks to Save Mortgages
Threatened by Loss of Income

for foreclosures. death or ILL
ness in the family and marital
troubles appeared most fire.
quently after curtailment Of in
come.
Foreclosures, generally, came
fairly soon after the house was
purchased, with SO per cent Of
FHA-insured foreclosures COM
ing in the first two years. 80
per cent of the VA foreclosures
in the same period and similar
figures showing for convention
al mortgages.
FILA and VA foreclosures
were heaviest in the $4,000 to
$l4,999 bracket housing, with
the foreclosures Of under &c.,
900 homes next.
A heavy majority Of FHA-
VA-inSured loans are made for
houses In this price range.
The heaviest percentage Of
foreclosures on conventionally
financed houses came in the
$4,000 or over bracket, which
also is the range in which most
conventional loans are made.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
Page Airwoys Wins Bid
For Servicine National

mitted by leading general avia-
ton operators, the Page offer
win earn the highest revenue
for the Federal Government
said @. Ward Hobbs, director
of the Bureau of National Air
ports. Page will succeed the
Butler Co. as operator.
Under terms Of the operat-
ing agreement, Page will pay
the FAA a fixed rental OF
around $4,000 . year for use
Of Hangar 8 and land areas
needed for aircraft parking and
fueling facilities.
It also will pay S1s cents for
each gallon Of aviation gasoline
and jet turbine fuel sold to gen.
eral aviation aircraft operators
at the airport.
1t will pay a percentage Of
gross revenues ranging from
to 10 per cent Of all other in
come, or guaranteed payment
of $4,000 for the first year
sac, 900 for the second year and
$4,000 for the third year
whichever sum is greater or
an annual basis.
Page will collect all landing
fees and retain 10 per cent Of
such collection for administra-
tive work. On the basis of past
general aviation activities, the
FAA anticipates yearly reve-
nue. payments in excess Of
$500. 1000.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
Mutual Funds
Gain Sharply

NEW YORK (Ap).-Mutual
fund performance-the results
Of investing your money
shows a drastic change for the
better in the last three months.
A comparison Of changes in
net asset value for the previous
II months tabulated for March
20 and June % shows the pic
ture has changed vastly.
In the year ended March 20
only Is Of more than 1870 funds
gained ground in adjusted net
asset value per share. Losses
ran UP to 40 per cent for one
fund and five dropped Is per
cent or more. The largest in
crease was under s per cent.
In the latest rundown, every
fund showed an increase with
one american 1nvestors) up
asa per cent. There were Is
gains Of 80 per cent or more.
A further comparison is Of
fered by the results for eight Of
the 10 largest funds in the Ma
ton. In the year ended March
20 they we're off an average OF
almost Z per cent in adjusted
asset value per share. In the
year ended June 20 they were
up an average of nearly "a
per cent.
The comparisons were made
from q monthly tabulation OF
asset values compiled by Kalb,
Voorhis and Co., New York
Stock Exchange firm specialize
ing in fund services. The tabu-
lation is for use within the in
veStment community and covers
all funds with over 81 million
In net assets.
Among the largest Of the
funds, the biggest increase was
20 per cent by Massachusetts,
Investors Growth Stock Fund.
Massachusetts, Investors Trust,
second largest Of all, was UP
27.2 per cent. wellington Fund,
which invests in bonds as well
as stocks. gained 14.6 per cent.
Affiliated Fund. q growth stock
fund, was ahead 23.5 per cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
Area Store Sales
10 Pet. Above 1852

Department store sales In
the Washington Metropolitan
Area were 10 per cent above a
year ago in the week ended
July IS and also were / per
cent ahead of the previous
week, the Federal Reserve Bank
of Richmond announced.
Area sales in four weeks end.
ed July Is were IL per cent
above a year ago and for the
year to date were UP 6 per
cent.
The downtown portion of the
area sales total was 4 per cent
above a year ago in the latest
week and also 2 per cent above
the previous week. Downtown
four weeks sales were s per
cent above a year ago and fo1
the year to date were per
cent higher
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
US. Gold Dips
$50 Million
Ford Week

NEW YORK (AP).-United
States gold reserves dropped by
$50 million for the second
straight week in the week end
ed Wednesday, the Federal Re-
serve Board reports.
It was the first time the gold
stockpile had declined In con-
secutive weeks since October
24-31, 1862. 4.s--
The 1858 outflow to date has
totaled $345 million, compared
with 1892 million in the COM
parable period q year ago. The
Reserve board said that at the
close Of business last night
United States gold stocks total
ed SIS, 633, 100000. This was the
lowest since April 10, 1899
when reserves totaled $15,-
sos, 000. 900. .s..
AS customary, the board de-
clined to identify the purchaser
or purchasers Of the United
States gold. The latest week was
the seventh this year in which
the gold stocks have declined.
The loss has amounted to $146
million for the previous week.
At the same time the board
said free reserves Of member
banks increased to $157 mil
lion "a day on average during
the latest week., compared with
a revised daily average of $140
million for the revious week.
Free reserves, or excess re-
serves less borrowing from the
central bank, are a measure of
total bank reserves and thus
bank lending ability. Free re-
serves are generally considered
a sensitive barometer to none
tary policy. 80.
Tending to swell member
bank reserves in the latest
week were an increase in the
float (checks delayed In the
collection process for which
members are granted immedi-
ate credit, declines in cur
rency in circulation, Treasury
deposits with the Federal Re-
serve banks, and in required
reserves.
Offsetting these factors was
a daily average decrease OF
500 million in Government
security holdings of the Fed
eral Reserve.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
D. c. Hotel Volume
Behind Year Aoo

Sales Of member hotels OF
the Washington Hotel Associa-
ton were rs per cent behind
a year ago in June and dcwn
SO per cent in the first six
months Of this year, reported
Bourbon A. Dawes, executive
vice president Of the aSsocia-
ton.
Room sales in June were
down 5.4 per cent and for the
six months were 8 per cent
lower.
Food sales in June were
down 10.9 per cent and for the
six months were 6 per cent
lower. Beverages sales in june
were off 9.5 per cent and for
six months were down Ga per
cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
Multiple Causes
Factory Worker Pay
Tops 500 Average
BY Dow Jones

BY Dow Jones
The Government announced
that factory production work.
ers' average weekly pay topped
500 in mid-June for the first
time on record.
The new pay mark was
largely the result of q seasonal
rise in the factory work week
In mid.June to 400 hours from
40.6 hours the previous month
plus three hours of overtime,
the highest mark since IN e
Labor Department started
charting overtime hours in
1855. q -.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
A Fish Story
BY DON BACON
star Rusinass Writer

The HArnischfeger Corp. Of Milwaukee says that an
operator of of its dragnes took his machine fish
ing the other day and landed three ton shark-al Of
which is hard to believe.
This epic struggle between mans machine and fish
took place. the company reported at Miyazaki-haa in
Toyama Prefecture Japan after the fierce pedator got
himself tangled in fishing net
Fisherman unable to land the beast called for help,
and among the volunteers one Jealous II cautions,
helper who showed up driving the Harnischfeger
After determined, albeit sluggish, struggle lasting
for several hours the sharks tail somehowts all rather
unclear-was hooked to the dragne and the fish hauled
in.
Today the unusual fishing pole-owned by the Kur-
ok Construction Co. Of Japan-is back at its pro-
sale Job Of moving dirt manufactured by the Kobe
Steel Works, licensee Of the Milwaukee company
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19

Page Always, Inc, Of Roch-
ester, N. Y, has been selected
by the Federal Aviation Agency
as the new fixed-base operator
for general aviation services at
Washington National Airport
for the next three years.
"Of seven proposals sub
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
More Dotu Urged
On Job Vacancies
To Ease Problem

NEW YORK (AP).-The
United States needs more sta
tistics on job vacancies to help
solve the problem of unem-
ployment, q noted economist
believes.
DR.. Arthur r. Burns, presi-
dent of the National Bureau Of
Economic Research, declared
the country has failed to take
the trouble of equipping Itself
with the facts needed to de-
termine whether, when or tC
what degree aggregate (job)
demand is deficient"
He discussed unemployment
in a lecture reprinted in the
July edition Of the Morgan
Guaranty Survey of the Nor
gan Guaranty Trust Co.
He called comprehensive sta
tistics on job vacancies a vita
missing link In our system Of
economic intelligence.
IF overall national Stats
tics on job vacancies existed
and II they we're supported BY
data on job openings and I'M
employment in individual &C.
equations and communities
much Of the debate lover
unemployment could be re-
solved on a factual basis" HI
said.
DR.. Burns, chairman Of thu
Presidents Council Of Econom
ic Advisers from 1853 to 1856
said there is no doubt that un
employment would be yer.
substantially reduced through
better organization and func
tioning OF the labor market. I"
He suggested there is neet
for a method to strictly with
hold (jobless) benefits from
those who quit their jobs with
out good cause or who are un
willing to accept suitabl
work."
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
ALL-TIME HIGH
DC. Savings-Loan
Deposits Up 1850

vious month and 657 in June
last year.
The associations reserve ratio
was 7.43 per cent in June VS..
7.84 per cent q year ago. Their
liquidity ratio was 1898 per
cent VS.. 8.7l per cent and their
borrowed money to savings ra-
ito was 3.37 per cent Vs. $40
per cent,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
BY DONALD b. HADLEY
star Financial Editor

A June gain in savings of
Washington savings and loan
associations was the best since
March and carried the midyear
total to q new all-time record
Of $1.496.333,881, reported W.
Franklin Morrison, president Of
the District Savings and Loan
League today.
The new record was UP 1875
per cent from 81, 1919. 1877 ,205 on
June 30 last year and also was
ahead Of $l,480,2 24,l65 a month
earlier
The 81 member associations
Of the league received $40, 49,
SCI Of new savings in June, and
paid out $32,077, 401 for with
drawals. leaving a net gain of
$l6,20l, l59. The net gain was
about the same as in June last
year. but contrasted with a net
gain of only $6,821 1899 in the
previous month. In April with
drawals exceeded receipts by
$352,622 following a net gain of
$20,863,787 in March.
In June last year, receipts of
$49,516,193 and Withdrawals of
$50, 334,564 left a net gain of
$l6,181, 628.
Accounts Near 100000
Mr.. Morrison's report listed
496,978 savings accounts of
member associations on June
30, compared with 469,346 a
year ago. During the month
5,546 new accounts were OPEN
ed and 4,178 old ones were
closed. A year earlier. 6,266 new
accounts were opened and 1852
were closed.
Assets Of the q associations
also reached a new high of ST.
731, 3,205 on June 80, COM
pared with $1,705, 13S,5S9 at the
end of May and were IL per
cent above $1,545,563, $50 on
June 80 last year, said Mr.. Nor
rison. who is executive vice
president and manager of First
Federal Savings and Loan AS
ISOLATION Of Washington.
First mortgage loans expand
ed to $1,508,3 03,161 from ST.
492,2l9,786 a month earlier and
were around 10 per cent above
$1,373,201 ,056 on June 80 last
year.
Reserves and surplus aggre-
gated $111,l26,486 at midyear,
compared with $1o4,248,607 q
year ago.
Borrowings Of member asso-
Citations jumped to $50,395, 900
on June 80, compared with $39, =
095.000 a month earlier and
ga, l1U,UUU q year carrier.
Loan Volume Larger
The associations closed 1893
mortgage loans for $43,283, 743
in June, compared with 1,795
for $36.262,731 in June last
year. Mortgage loan repay
ments amounted to $50, 400 ,675,
compared with $26,566,S12 in
June 1862.
The big bulk Of all mortgage
loans held on June 80 we're con-
ventional. These totaled SO. $3.50
and amounted to 1886, 474, SOS
in contrast to 10,9o3 CT loans
for $139, 469, 943 and only 2,347
FILA loans for $32,366,166.
The number Of mortgage
loans delinquent two months or
more declined to 572 in June,
compared with 627 in the pre-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
Roll Cars Ordered

NEW YORK (DO. = New
York Central Railroad has Or
dered 140 tri-level rail cars
costing a total Of $3,100.OO0 for
delivery in August and Septem-
Der. Such cars are used In haul
ing new autos from factories
to marketing areas.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
AMEX Seat Sole

NEW YORK CDD.-A regu-
lar membership on the Ameri-
can Stock Exchange was trans
ferred for $65 900. The previous
sale was July o, also for $4,000.
Seats currently are quoted at
$45 900 bid, $4,000 offered.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-19
BY w. B. RAGSDALE, Jr.
Associated Press Writer

Loss Of income, often only a
temporary situation. is a prin-
cipal cause Of foreclosures on
home mortgages. a study by the
Federal Housing and Home
Finance Agency has found.
The housing agency sug-
gested that further studies be
made to see whether a system
of mortgage unemployment in
Surance could be developed to
help prevent foreclosures re-
Sulting from temporary unem-
ployment or reduced working
hours. .,..P
The proposed insurance
would provide enough to take
care of interest, taxes and haz-
ard insurance for the house,
with payment of the principal
deferred until the income was
restored.
Begun in 1851
The study was begun by the
HHFA In 1861 when there was
a jump Of AZ per cent in fore
closures on nonfarm real es-
tate. largest increase since the
end Of World War II.
The upward trend continued
in 1862, pushing the total an
nual foreclosures from $4,000
to $4,000.
Housing Administrator Rob-
bert c. Weaver said the tore
closure rate still is below any
critical level, but the loss Of
homes through a rising volume
Of foreclosures in recent years
has entailed h ard ships fol
thousands of families.
I'm order to prevent such
hardships, and to avoid the
potential danger of existing
home and mortgage values
from increased foreclosures,
he said, ut is essential that we
should learn more about the
circumstances leading to FORE
closures. :"
Loss of income and death o.
illness in the family were tn.
dominant reasons found To-
foreclosures in the study of sil
metropolitan areas - Chicago
Dallas. Detroit, Los Angeles
New York and Philadelphia.
Multiple Causes
In each. at least A per cen
Of the Federal Housing Admin
iStration, Veterans Administra
ton or conventional loan Dor
rowers had experienced
decline in income prior to fore
closures, often a reduction O
over 80 per cent in income. tn
study covered the seven-yea
period up to 1861.
In a list of multiple reason
Navajo times., 1963-02-21
All Changes
Meeting Dates

The Window Rock All Club held
q combined business and recrea-
ton meeting on February 4. in the
Recreation Hall, with President
Peter Cooper presiding.
In order to avoid interference
with school work, the regular
monthly meeting date was changed
from the first Monday of every
month to the first Friday. The next
meeting will be held on Friday,
March 8, 1868.
A discussion on 4H club jackets
was conducted. and it was decided
that all members who have already
completed project this year will
receive one.
Navajo times., 1963-02-21
Did You Know?

The 1910 Range capacity was
determined to be approximately
$50. 600 sheep units for the Navajo
land2
IA major league baseball
team uses approximately $50 dozen
balls during a single season
There are 24,1H acres of dry
farms on the Reservation?
Navajo times., 1963-02-21
Shiprock Land Board Stresses
Increase in Pump B" Water

The Shiprock Land Board
invited the Superintendent Of E-
rigarion. Operation 6 Main
tenance, Ken Julian to a meeting
on Tuesday. February 5eh. The
Land Board and the Water Users
went On record that the increasing
of water for Pump "B' should
receive top priority. Members Of
the Shiprock Land Board includes
John Dash -Presidem: Alfred Bow
man-Imerpraer: Mrs. Jimmy
ing-Secreeary: and Frank Yazzie
Begay--Member.
The water users have been
promised more water after in
stalling a partial flume in the
Pump ''B" ditch in order to
measure the water actually being
pumped. 1t was determined that the
water users have only been re-
ceiving 2B amount of water than
what they thought they have been
receiving. The Irrigation,
Operation and Maintenance is now
in the process of overhauling Pump
"B" irrigation to provide more
water.
The Superintendent of Irrigation
also accepted an invitation to the
Shiprock chapter made by council
man Jimmy King. to discuss
operation and maintenance on Sun
day. February 3. Again, the same
problems were discussed, such as
not enough water in some areas
as Pump "B'' and ga" unit az
of the Fruitland project and Cudei
project.
(The Shiprock chapter officers
are: Chairman-Grey Valentine.
Vice Chairman Be n Begay and
Secre1ary-Bob Martin)
This is a contrast to the prob
lem areas where too much water
and lack of sufficient drainage
are causing saline conditions.
These conditions cause a re-
duction in crop yields because
of picking the seeds. drowning
roots Of crops. actually making
water unavailable to the plants.
The Irrig alton Department,
Operation 6 Maintenance under the
direction of Ned Hafafhi and Larry
Cooper, Director and Assistant
of the Resource Division along with
the Advisory Committee have
authorized and budgeted funds to
correct these problems areas.
Provisions are now under way
to provide adequate water TO dry
acres and to drain away excess
water to remove the salts.
The Pump ''B'' ditch has been
cleaned. weeds have been burned
by the newly acquired Jet diesel
burner and the ditch properly
shaped with q Caterpillar and
BriScoe- -shaper.
h is hoped that the Branch
of Land Operation of the local
BIA will receive governmental ap-
propriations.
This is only fair before we
can expect the people to pay farm
excessmemss' Julian said.
Navajo times., 1963-02-21

Crock Projecfl Showni Freddie
Shields Of the Dept of Irrigation Opera
cleaning ditch that through
James and Demison farms Shiprock. IN
FARMS lands and good by
ditch which makes possible Bce Deson
that viii produce higher
crop yields.
FREDDIE SHIELDS lives the Frtland and
the bun doing outstanding job for the rrga
Maintenance solving problems
Navajo Times Photo)
Navajo times., 1963-02-21

Following the business meeting,
the group joined in square dancing
with Abraham Tucker, community
leader calling. He was assisted by
Mrs. Glenn Landbloom, and Mrs.
P. Powell, project leaders.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-01-17
Coffeetime Sweet

Make sweet yeast dough
from scratch or mix. After
one rising, form into 3-inch
round balls. Flatten on
creased baking sheet; press
3 to 4 pineapple chunks into
center Of each. Immediately
bake in 400 degree oven 10
to is minutes. Frost while
warm with icing made by
mixing powdered sugar and
sirup drained from pineapple.