davidaulloa/AmericanStories huggingface dataset:
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1963-09-27

| Now farmer Ed is on the board
of directors of his local electric COOP
so it takes lot of anti-co-op talking
from the Congressman before Ed
says he has decided its time to go
home and make plans :" and one
thing for sure, I'm going to get this
story to the coop, too. know there's
not a man in it (the co-op) that
would knowingly push the country
along any further in the direction
it's headed" proclaims Ed.
"THE OLD POWER
COMPANY LINE"
The ''story" that farmer Jenkins is
going to bring back to his coop is,
of course, the old power company
line that REA was good thing when
it was established but now that SO 90
of the farms are electrified, it really
isn't needed anymore.
In addition, it says that rural cleo
trio co-ops are providing unfair COM
petition to the private utilities. If
this doesn't stop, the movie warns,
the nations Initiative, drive, spirit,
:" will be lost. In
fact right now, this overall force
"seems to be slowly leaking out of
our nation, like sap out of wounded
tree the narrator eNtolls.
When all of the misdirected flag
waving is edited out of the script,
the obvious conclusion (although
not stated as such) is that farmer
Jenkins is going to hustle right
back to his coop and get his fell
low board members to sell out to
the power company.
The implications of power company
greed evident in the movie may lead
some to think that it is nothing more
than blantant attempt to win friends
for power grab. But it isn't that
simple. The movie is done in true
Madison Avenue style. 1t is profess
,ional not only i'm the technical as
poets of quality production but also |
n the appeal for emotion over reason.
In addition, the planners of the
package have left nothing
% chance when it comes TO the fol-
ow-up. Detailed instructions are be-
ng distributed among power COM
,anies on how to successfully carry
tut the program when the film IS
hown to local organizations. The
accompanying booklet explains the
'hases of the program all the way
rom the proper seating arrangement
or the movie to the warming that the
ghts should be turned on slowly
Nhen it is over. Sudden brilliance, the
ooklet warns, "can destroy much
f the feeling you have created in
ach individual"
ONE USEFUL" WORK FOR
iPCo. VICE PRESIDENTS?
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
Peoples Life Elects
Baker to Board

stockholders today elected
Robert c. Baker, president and
chairman Of the board of
American Security and Trust
Co. to the board Of directors of
Peoples Life Insurance Co.
The election fills a vacancy
created by the retirement Of
Daniel w. Bell, former chair
man Of the board Of American
Security and Trust Co., who
had been a director Of Peoples
since 1856.
Stockholders also approved
a proposal to amend the COM
pany's charter to provide for
a capital stock increase of
$250.000 and a change In total
capital stock to $5,250,000. If
approved by the Districts
superintendent Of insurance.
the amendment will result in a
) per cent stock dividend.
which is equal to one share
for each 20 held.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21

The Federal Trade Commits
sion ordered Martin-Marietta
Corp. yesterday to sell rs
plants and properties worth
millions Of dollars and laid
down stringent bans against
future company acquisitions.
Within the next two years,
the FrC said. Martin-Marietta
must sell-only TO buyers ap-
proved by the commissioner
concrete pipe plants. Is crushed
stone, sand and gravel plants,
quarTies or quarry sites and
two lime plants.
The action took the form of
a consent order agreed TO by
Martin-Marietta and commits
sion attorneys. The agreement
is only for purposes OF settle
ment and is not an admission
by Martin-Marietta that IL vio-
lated any law.
The commission set no spe-
cific value on the plants, but
Martin-Marietta in a statement
said they had q book value Of
approximately S4s million.
Sales Of products produced by
the properties in 1862 amounted
10 about $50 million. the COM
pany said.
The FrC said Martini
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
THE EVENING STAR
Washington, D. c.
Thursday, March n, 1868
BY DON BACON
Star Staff Writer

Sale Of stock in two Wash
ington-based oil and gas lease
companies has been halted
after court action initiated by
the Securities and Exchange
Commission.
Judge william B. Jones Of
the United States District
Court signed a preliminary in
junction prohibiting the two
companies, Petroleum Leasing
Corp. and Petroleum Properties
Corp, and their president,
James s. Richards, from Of
fering stock for sale to the
public.
At the same time a perma-
nent injunction was issued
against the firms secretary,
Martin j. Parker.
These were consent judg-
ments agreed to by the parties
involved, and do not reflect an
admission of guilt.
The orders were signed after
a hearing before Judge Jones
on March Is. A temporary re-
straining order was issued
against the two firms on
March 8.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
.EALs Shuttle
Service Grows

Eastern Air Lines. Inc. said
today its "Air-Shuttle" service
between Washington, New
York and Boston is now used
by about seven out Of 10 per-
sons who travel by air between
the three cities.
The no-reservations shuttle
service was started in April,
1861. At the end of January
this year, the line said, these
flights represented z per cent
Of Eastern's total seat miles.
Last year they contributed 7.6
per cent to total passenger reve-
nues Of 1898. sSs, the COM
pany noted in its annual re-
port.
Despite the acceptance of
the new service, however, East
ern in 1862 experienced one Of
its worst years in terms OF
revenues and net income.
Edward v. Rickenbacker,
chairman, and Malcolm A.
Macruyre. president. described
the year as "one of extreme
difficulty"
In 1862 the big air carrier
had a net loss Of $l4,895, 1856
on total revenues of S288,lll,
400. This compared with q 1861
loss Of $l4.973,940 on total
revenues Of $295. 352 1853.
Helping to offset the deficit
in 1861 was q special credit Of
$5.4 million. Last year special
credits totaled SIS million.
Mr.. Rickenbacker and Mr..
MacInyre said the flight engi-
neers strike, which began June
%, contributed a major share
to the years adverse financial
results"
They said the company's
prospects for improved earn
ings were not good unless basic
changes are forthcoming In
air-carrier regulation. There
are simply too many carriers.
competing for too little traf-
fic." the officials commented.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
By SYLVIA PORTER

ing. There's plenty of argu-
ment about these averages too,
but no trustworthy evidence to
settle the question.
go How good or bad an In
vestment advisers perform
ance has been over a period
another delicate question.
We never have had research
to guide us to answers on these
crucial questions - and with
the number Of us who directly
own stocks moving toward 20
million in the United States
alone, and with tens Of mil
lions Of others indirectly in
volved In stocks through the
investments made by their
pension funds, insurance COM
panies, etc.. the need fov the
data is indisputable.
1t was three years ago this
month that Merrill Lynch,
Pierce, Fenner g. Smith, Inc,
the largest brokerage firm in
the world, made a first grant
to the University of Chicago
to establish a permanent CEN
ter for independent, basic re-
search in securities which could
settle such provocative Ques-
tons as these.
Since then, researchers have
been working to gather the
needed material under the d.
rection Of University of Chi
cago professors ]. H. Loire and
L. Fisher.
Now the center has on COM
puter tapes hundreds Of thou
sands of stock quotations and
calculations. AS Prof. Loire put
it in New York City recently,
this study deals with a uni
verse, not q cross-section" Of
stocks.
In the center's laboratory Is
data covering a period includ-
ing booms and depressions,
war and peace, so valid conclu-
sions can be reached on how
an investor would have made
out in the worst and best of
times. A huge and constantly
increasing volume Of statistics
now will be available to find
out the answers to coutless
other questions affecting the
investing public.
The statistics to be released
In May will represent only a
beginning, and I'll be back
with an Interpretation Of them
The implications Of this re-
search can be enormous to us,
as Investors, to the tools we
use to assist us in reaching
sound decisions and to the or
CARNATIONS and individuals
who advised US and manage
our investments.
Distributed, 1858, by the Hal Syndicate
Inc. All Rights Reserved.J
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
Mems Wear
Maker Sets
80 Records

Phillips-Van Heusen Corp. Of
New York, mems wear manu-
facturer. today reported record
sales and earnings for the year
ended December 81.
Net income was s2,242.339. or
sl.4o a share. up from $2.lll.-
401, or Sl.40 a share in 1861.
Sales were $65, 745,2 69. COM
pared with s60.743,565 the pre-
vious year.
Seymour J. Phillips. presi-
dent. said incoming sales this
spring are good. and that bar
ring unforeseen events Phillips
Van Heusen's operating results
for 1868 should be very salts
factory"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
SECOND AUCTION
or $500 MILLION
u. S. BONDS SET


The Treasury announced
plans yesterday for its sec
ond competitive auction
Of bonds-this time for a
total Of $500 million.
Secretary Dillon invited
bids for the 1989-94 bonds.
Bids viii be received at the
Federal Reserve Bank Of
New York no later than IL
am. EST or. April 9.
AS in the first competi-
tive sale in January, the
successful bidder must
make q bona fide re-of-
fering Of all bonds to
public investors.
In January, a syndicate
obtained $3.50 million Of
the Treasury bonds at a
net cost to the Treasury Of
4.0082l0 per cent.
The bonds now put up
for bidding win mature
May is, 1894. but may be
called for payment on May
is, 1889. or any interest
payment date thereafter.
They viii be dated April
Is. 1868. and interest will
be payable every May is
and November IS, begin
ming next November.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
DC. Bank Deposits Set
$1,788,426,523 High
BY CHARLES COVELL
Star staff Writer

Twelve Washington banks and companies today re-
ported that deposits reached altms high Of ST.
on March 49, -3
condition call from the Controller Of the Currency
showed total deposits 745646 ahead of the s77
recorded in the previous call December 49,
This despite the that several banks showed
decline from the record December highs Bank officials at
nued these dips chiefly to Withdrawals to income
Companies put money withheld from employee salaries
into special treasury tax and loan accounts banks the
Government Withdrawals from these its cash arise
One bank reported heavy Withdrawals by the Government in
recent weeks.
Six OF the banks reported gains their December %
totals while an equal number recorded Shapest
percentage increase was recorded in the c. National Bank
whose deposits spurted from 81 702950 to $779700O
Compared with the call Of a year ago. on March 49, all
banks reported sharp increases Total Of that
81 635, 653y032 -
Individual bank totals are given below along with those
NJ MarNh0
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
D. c. Securities Firm
License ConeeIed

The Securities g. Exchange
Commission had Cancelled the
broker-dealer registration OF
the Allen. Mcfarland a. Co.,
Inc. l120 Connecticut avenue
NV.
The firm is not currently en-
gagged In business. The SEC
said q receiver had been APP
pointed by the United States
District Court in February, 1861.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
cOMPUTER WITH A VOICE
EIectronic Device
To Quote Stocks

A talking computer success
fully passed its first addition
yesterday before q critical audi
ence Of more than 100 Govern
ment and industry officials
here.
In a monotone worthy Of q
Marian visitors best "take-
me-to-your-leader" style, tn e
newly developed electronic de-
vice spelled names and tele-
phone numbers aloud from a
script fed to 1t by a typist
from the other end of the room.
The product, called Televox,
was demonstrated at the Man
ger Hamilton Hotel by Tele-
register Corp. of Stamford,
Conn. The company currently
is installing a stock quotation
system on the American Stock
Exchange, using the voice prin-
ciple, to serve brokers in the
New York City area.
Teleregister officials also
think their product can be put
to work by the Defense Depart
ment to provide rapid, spoken
inventory answers on supplies
stored In depots around the
country.
They also believe Televox can
be adapted to q computer-radio
system that would avert mid
air collisions by aircraft by
automatically telling pilots to
change course.
Systems that extract infor-
nation from computers and
print 1t are not new. The Tele-
register has operated such sys-
TENS to reserve airline seats
and hotel rooms for years. 1t
also installed an electronic
banking system called Telebank
last year at 10 branches Of a
New York City bank.
The addition Of the human
voice to a computer is novel,
however. When put into serv-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21

ice. the company's Telefile sys-
tenn will permit a broker to dial
a number and hear a spoken
reply on his telephone, CIV
ing the bid and asked price on
any American Stock Exchange
security. plus thousands of
other stocks traded over-the.
counter.
The invention Is expected to
serve about 1000 brokers. 1t
was ordered by Annex at q cost
exceeding SO million in 1861,
and is scheduled to 60 into
service by December 81. Annex
win pay the company between
$500, 900 and $454,800 per year
for three years under a service
agreement, depending on how
many exchange subscribers use
the service.
The Televox principle does
not create voice sounds syn
thetically. 1t uses q mans nor.
NAL voice pre-recorded on mag.
netic bands, including the digit
! through 8. and each lettel
OF the alphabet plus a few
market terms such as ibid" anc
asked" HF'V
The computer extracts what
ever letters or digits 1t needs
from the bands and In effect
orders" a tape recorder to play
them aloud. The result is a
somewhat staccato series of
letters spelling out most words.
above 9 are expressed
by two or more spoken digits.
For instance. Is comes out lone,
three"
The Telefile system promises
10 make a much broader list
Of stocks available to a broker
for rapid quotation in addi-
ton vocally. A company
spokesman said the telephone
system will have the ability to
furnish quotations on 5000
securities.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
BY MIRIAM GUTENBERG
Star Staff Writer

The Securities and Exchange
Commissions forthcoming re-
port to Congress will carry q
pack Of recommended changes
in the rules covering the Sc
curities industry but the in
dustry will have q chance to
speak its piece before the
changes are adopted.
That was the forecast given
by SEC Commissioner Manuel
Cohen today in discussing the
talk he gave yesterday to a
group Of Harvard University
law students and Boston law
yers interested in the securities
industry.
Mr.. Cohen asserted that the
report would be hard hitting,
but nothing for the industry
to lose sleep about"
hOstlllty Is Denied
He emphasized that on the
one hand the commission felt
no hostility to the industry, but
that on the other hand, the
report would expose 'lots Of
abuses and would be critical of
many phases Of the industry"
Mr.. Cohen said, however,
that the study will not present
a picture Of pervasive abuse or
Of widespread fraudulent &C
tivity like there was in the
late 1920s and 1906"
On the question Of the ac-
tivities Of brokers, he said there
was no doubt that the report
would discuss the training and
experience Of the men handling
investments.
He said the report would be
concerned with the problems
of the individuals in the busi- |
ness, including the statesmen,
but he declined to say how the
problems would be dealt with |
or by whom. Under present
law, securities firms have to
register, but their statesmen do
not.
Pointing out that the philos-
ophy Of self-regulation has been
part Of securities law since
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
Martin Ordered to Sell
S48 Million Properties

Marietta had acquired the
plants and quarries since 1854.
Its complaint charged the
acquisitions might substantially
reduce competition or tend to
create a monopoly In violation
OF the Celler-Kefauver anti
merger law. The constant
and systematic elimination of
actual and potential competi-
tors" FrC said. has injured
the public and Is an unfair
method Of competition"
For the next 10 years, Martini
Marietta is prohibited from
acquiring any additional con-
crete pipe corporations any,
where in the United States.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
CAB Disopproves
Discount Fare Cut

The Civil Aeronautics Board
has disapproved a proposal by
airlines operating on internar
tional routes to drop from 10
to 5 per cent the discount al
lowed on round trip trans
Pacific fares. The drop had,
been proposed for April 1, ac-
cording to the Associated Press.
The United States lines in
volved are Pan American, OPP
Grating on the Atlantic and
Pacific routes; Northwest, OPP
Grating on the Pacific route,
and Transworld on the Allan.
tic run.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
YOUR MONEYS WORTH
New Report Offers
Investors Guide

The most comprehensive
study Of stock prices in history
is nearing completion at the
University Of Chicago's Center
for Research in Security
Prices. When the initial results
start coming out in early May
you'll have the basis for find
ing out for the first time:
ID How much you might
have earned a year on an in
vestment In any or all stocks
listed on the New York Stock
Exchange during a IS wear
period from 1925 to 1860. A
good guess is that the rate OF
return you could have earned
on stocks will turn out sur
prisingly high.
CD How the rate of return
you could have earned on stock
compares with what you could
have earned via other popular
mediums Of investment - from
a saving bank deposit to q
mortage. A good guess is that
a common stock investment
will be revealed in an exceed
ingly favorable light.
CD How much you could
have gained or lost on a pur-
chase and sale Of any or all
of the NYSE listed stocks at
various key dates during this
period. We have
nothing even approaching ade-
quate information on this.
"a How valuable, If at all,
are the familiar stock market
forecasting techniques - such
as the famous Dow Theory.
Wall Street pros have been
arguing the familiar theories
for years with no reliable evil
dence to decide one way or the
other.
60 Whether stock prices re-
act to or signal In advance
major developments here or
abroad. If q connection is
shown between stock price
movements and events beyond
the scope Of a technical theory,
the forecasting techniques will
be even more suspect. Or If
no connection is shown, it
could be vice versa.
go What effect the dividend
rate a corporation pays on its
stock has on its stock price in
contrast to what effect its
earnings rate has on the stock
price. This is Of vital sig
nificance to corporations with
outstanding stocks, but there
has been no worthwhile
scientific attempt up to now
to prove the difference in effect,
Cd How helpful or mislead-
ing are the stock price averages
on which so many rely to tel
what the ste * market Is do
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
New Branch Planned
By Eastern SCI

Eastern Savings & Loan AS
ISOLATION today announced
plans to establish a branch Of,
flee late this summer at 1929
X street NV.
The new office will be on the
main floor Of the Davis Build,
ing. now under construction.
The main office is at PENN
sylvania avenue and Fourth
street Sc. 8
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
Lone Plans Plant

RICHMOND. Va. (AP). -
Plans to construct a $3.50, 900
plant at Altavista for the pro-
duction Of chairs and tables
has been announced by the
Lane Co., Inc, q Virginia firm
widely known for its cedar
chests.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
w. J. Buhr Elected

DENVER (AP). Wesley J..
Bahr Of Tenafly. N. j.. was
elected president today Of the
American Savings and Loan
Institute, closing its 3Sth an
nual conference. He was vice
president for the last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
Stocks Industry ReassuredonSEC Study

1884, he said it would continue
to be emphasized.
The bulky report, he said,
will carry recommendations on
legislation, on rule-making,
recommendations to the SEC
and recommendations on the
machinery for self-regulation.
But the commission also
hopes to have the benefit of
advice from the industry, he
added.
Areas Covered
From Mr.. Cohen's remarks
and from the nature Of the
questionnaires that have been
sent to the industry, it is obvi-
GUS that the report will cover
these areas:
"Boiler-room" operations by
high-pressure telephone sales
men, "hot issues" that squirt
into prominence and encourage
speculation; disclosure policies
involving stocks in the over
the counter market; credit
buying of stocks; mutual fund
sales practices; real estate in
vestment companies, and tight
ened enforcement procedures.
Mr.. Cohen indicated that the
study would level its major
criticism at the over-the-coun-
ter market.
The first part Of the study,
amounting to about 80 to 40 per
cent, will be made available on
April / and the remainder, mot
later than June l." he con-
tinued.
The commissioner said the
report would be the most COM
prehensive review of the Sc
curities industry in the last Is
10 80 years.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
Aluminium Output Dips
BY the Associated Press

NEW YORK (AP).-United
States production Of primary
aluminium in February totaled
l62,97S short tons. down lis
per cent from the ls4,l58 tons
produced in January but 3.s
per cent higher than the 49,
70l tons produced in February
1862.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
Business, Stocks A !.
Stock Sale Halted :,
In I'd. OiIFirmsI

Previously. the firm and two
of its officials had been en-
Joined by the court from viola.
tons of the commissions net
capital rule, the SEC said.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21
Charges Outlined

The commission had charged
that the stock offered for sale
had not been registered as re-
CURED by the Securities Act
of 1898.
1t further alleged that the
men had failed to disclose per-
tinent information about the
companies. According to the
SECS charges, money had been
obtained by false statements
and omission of facts that
presented a misleading picture
of assets, anticipated profits
and dividend prospects.
The two companies are in
volved in the sale Of gas and
oil leases in New Mexico. The
commission said brochures had
been mailed to prospective
stock buyers in 30 States, hint
ing at expanded activities in
exploration, including the is
land Of Jamaica.
The SEC said brochures were
mailed to some $50 persons
who we're offered 100 shares of
stock for $40, which was pur-
ported to represent only the
cost Of distribution.
Solicited by Phone
Those who accepted the 100
shares were later solicited by
telephone for the purchase
Of more shares at prices rang
ing from 80 cents to 81 a share,
the SEC contended.
The commission estimated
that 10000 shares were sold
between last November and
early March.
Petroleum Leasing was in
corporated in Maryland in 1854
and Petroleum Properties ir
the District in 1858. Theil
headquarters was listed at 134t
Connecticut avenue NV.
The injunctions affect only
the sale Of stock in the two
firms. mot their sale of MI ane
gas leases, the SEC said.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-03-21

-----$l,7sS.42752s 1885 $685. s2 $l77s. s7s. 756
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-21

DoubIe-strsnsth for long,
froUble-frss service. Inner
shell fights acid and cor
rosion. Mechanically locked
seems.