davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-02-19

costs and depressed price. he
said. General Electric prod
ucts on the average are now
selling at price levels that pre-
vailed in the 195S-1955 period
in spite Of greatly improved
product features and perform
ance."
Improvement Of earnings re-
mains for General Electric, as
for United States industry in
general, q continuing chal-
lenge under these conditions,
Mr.. Cordiner said.
Employe pay and benefits
amounted to a new record of
$1,000, 782.602 for the 12-month
period. Average 1862 compen-
sation per employee, including
benefits. rose to a record 1905.
Purchase Of materials, sup
plies and services from the
company's more than $4,000
suppliers totaled nearly $2.3
billion.
Mr.. Cordiner estimated the
cost Of settling suits with Gus
toners filing claims as a re-
suit Of the 1860 antitrust case
will not exceed $50 million. "
He said substantial progress
had been made in settling
claims related to the sale of
products involved in the Gov
ernment's antitrust case
against GE and other producers
OF electrical equipment.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-02-19
Budd EIectronics
Opens New Center

Budd ElectronicS, q division
Of the Budd Co., has estab-
lished an advanced develop
ment and planning technical
center in Arlington, Va.
To be known as ADAPT, the
center is headed by Robert o.
Voight, who served until re-
Gently with the Air Force as
chief Of the systems study
branch, research and develop
ment directorate, Defense
Communications Agency.
The new center will plan, in
tegrate and adapt today's fast
moving technologies to meet
needs in electronics and COM
munications.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-02-19
Martin Sales
And Profits
Rise Slightly

Martin Marietta Corp. had
1862 net operating earning OF
$43,154,370, or $1.93 per share
compared with $42,012,166, OF
$1.9l per share, in 1861, 1t was
announced here today.
Sales for the year totaled
81, 199,573,777, compared with
$1,219,288,3 1893 the previous year
The corporations net oper-
ating income for the fourth
quarter Of 1862 was 1855, 905
or AZ cents per share, COM
pared with $9,718,777, or 46
cents per share, in the fourth
quarter Of 1861.
The fourth quarter earnings
were based on sales of $279,-
l32,801, compared with $780,
266,73S in the final quarter of
1861.
During 1862 extraordinary
capital gains from sale of
property, plant and investment
were $2,234.444. or 10 cents per
share, compared with $685.
489, or IL cents per share in
1861.
The 1862 results were an
nounced by Joseph E. Muckley,
vice president and chief finan-
cial officer, speaking before the
Washington Society of Invest
ment Analysts. at the Occi-
dental Restaurant.
Charges for depreciation, de-
pletion and amortization for
the year amounted to $34,151,-
1872, an increase of $3.037, 500
over the $31,114,183 charged
in 1861. All of the increase in
depreciation charges during
1862 resulted from the adoption
Of the new guidelines as es-
tablished by the Internal Rev.
enue Service during the past
year.
The investment tax credit
provided in the Revenue Act
OF 1862 amounted for the year
to approximately $1.250,OO0 of
which 48 per cent was taken
into income and the balance is
being deferred and spread over
the life Of the assets affected.
The major effect Of these
Revenue Service rulings was
absorbed into operations dur
ing the fourth quarter.
During the past year, cor
porate working capital was in
creased to $154,774.525 from
$135,072,025 in 1861. Book
value per share of common
stock grew from 1881 in 1861
to $l4.64 in 1862.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-02-19
Gear Manufacturers
To Confer in D. G.

Special problems Of designing
and manufacturing the high
precision gears that go into
rockets and missiles will be
considered here next Monday
and Tuesday when the Aero
space Gearing Committee Of
the American Gear Manufac-
turers Association meets at the
International Inn.
Papers to be delivered at the
sessions will cover winged air
craft, boosters in ballistic mis-
siles, radar and testing for
reliability.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-02-19
CHICAGO
LIVESTOCK

CHICAGO (APl CusDA). -Hogs.
7 1000 butchers steady 70 50 lower;
mixed d'G Is ibo.sssgB. 'p lss' iSsS.iSgS;
sSSsS'ySeC Iss' SS $3.50. ga sSS:
100 10, sovs iS'9b-iG'OOi 100000
s.ssTs s' Us G q So ioss PG" LOAD u prlms
hisssO choice ana prime s ,osS.i ESQ iss
IS 5O-2b. Is, choice .g0O-l $50 lbs.
n S S,Is IS GOOD g2S-l S SSo rs g 90
20 ,OO-2475. good 20 .lO-9a.25. utility
and commercial cows i4.00-i0,00.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-02-19

4lC pIOpOScu CdplIhl ulCIcl
holders at the annual meeting
on March 81 and also is subject
to approval of the Superin-
tendent of Insurance Of the
District Of Columbia.
The company anticipates
maintaining the same cash divi-
dend per share after the recon-
mended stock dividend. Direc-
tors declared the usual cash
dividend Of is cents a share,
payable March IL to stock
holders of record on February
26.
Recommended in 1862
Today's action followed a
recommendation made last year
for a program Of regular stock
dividends. where warranted, Of
a basic amount Of per cent. 1t
was the boards feeling that a
regular stock dividend would be
more desirable than larger stock
dividends on an irregular and
uncertain basis.
Operating figures for 1862
showed that life insurance
sales were $189, 758,359, the
highest in the company's his
tory and 1876 per cent ahead
of the previous year.
The net increase in life in
surance in force was $685.
159, compared to $46, 044,689 in
1861.
Again, this exceeded any
previous year and represented
AS per cent increase over
the previous year.
The ordinary insurance in
crease was $50,141 ,804, or is per
cent ahead OF the 1861 in
crease.
Weekly Premiums Soar
The weekly premium insur-
ance increase of $18, 002 $50 was
an extraordinary 700 per cent
ahead of the previous years
increase. This unusually high
increase was attributed to a
new line of weekly premium
policies which was introduced
at the beginning Of 1862.
Total life insurance in force
on December 81 was 1887, 1885,
3l5, compared to $780, $50, l56
at the end of 1861.
Payments to policyholders
and beneficiaries totaled $l0,-
029,833, an increase of more
than 100000 over the 1861
period. II
= The company's net premium
income was $24,325, 1854, a gain
of So per cent over 1861.
Investment income was So
1874, 1875, an increase of 81 per
cent from the previous year.
Assets Extend Rise
Admitted assets on Deem
Der 81 amounted to $160,638,-
913, an increase of $8,258,815
for the year.
The company continued to
broaden the market 1t serves
by opening two new district
offices-in Lexington KY, and
Knoxville, Tenn. - bringing to
81 the number Of such offices
in the District of Columbia
and the nine States in which it /
now operates.
In addition, the number of
general agencies was increased
from SO to 70.
Acquisition cost Of the large
amount of new insurance writ
ten by the company in 1862
was reflected in lower net
earnings which were slightly
over SIS million, compared
with 81 million in 1861.
During the year, the COM
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-02-19
Earnings

Brunswick Corp. in year ended
December 81 earned $24,1l9,0OO
or $1.36 per share VS.. $44,-
$4,000 or $2.56 a share in
1861.
Imperial Tobacco Of Canada
in year ended December 81
earned $13,361 900 or $l.33 a
share VS.. $13,857, 900 or $1.38 a
share in 1861.
Marquette Cement Mfg. in
year ended December 81 earned
$10,148,089 or $2.98 a share VS..
$10,950,092 or $3.11 a share in
1861.
Alec Products, Inc, in 1862
earned $1,838,000 or $1.05 a
share VS.. $524,000 or 80 cents
a share in 1861.
Consolidated Coal Co. in 1862
earned $24,385, 900 or $2.35 a
share VS.. $22,824,O00 or $2.I6 a
share in 1861.
Detroit Edison in year ending
January 81 earned $43,135, 1874
or $3.50 a share VS.. $39, 794, 653
or $1.39 a share in 1861.
Sunray DIX Oil in year ended
December 81 earned $780, POI 900
or $40 a share VS.. $39, 932 900
or $2.03 a share in 1861.
United Fruit in year ended
December 81 earned $11, 005, 1888
December 81 earned $11, 0O5, 1888
or $3.50 per share VS.. 1920, eli
or $1.03 a share in 1861.
Southern Union Gas in year
ended December 81 earned
IS, $4,000 or $1.53 a share VS..
$5,5S2,000 or $1.48 a share in
1861.
Other earnings included:
For Quarter Ended neeeraheF n
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-02-19
Peoples Life Proposes
Capitol Increase and
5 Pct. Stock Dividend
BY DONALD b. HADLEY
Star Financial Editor

Directors of Peoples Life of Washington today
voted to recommend to stockholders increase capital
$5250000 from IS million to permit distribution of per
cent stock dividend President William Leith announced
Directors also heard review Of 1862 operations which
covered new records in sales premiums and assets
The proposed capital increase will upon stock
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-02-19
OVER COUNTER

a. Following prices furnished by the Ma.
tional Association Of Securities Dealers
IN washington represent the range within
wnlch locally active securities could have
Deen D0ught or sold at l pm. today;
Banks ana Insurance Companies
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-02-19

pany also began to feel the
anticipated rise in costs Incl
dent to conversion to electronic
accounting.
Capital and surplus in
creased $990.655 for a total of
SIC, 266,817 at the years end.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-02-19
AMERICAN STOCK EXCHANGE
Sales High Low 2.Oo Chg.

ra:s Y e. .' s sr'i FsT stYYS ss .s
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-02-19
TREASURY BONDS

NEW YORK CAP) Noon over the
counter US. Government Treasury bonds.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-02-19
BUSINESS
BRIEFS
Norfolk q Western Railway

Norfolk q Western Railway
coal loadings last week totaled
1,l19 cars, down from 23,795
the previous week and 24,017
for the 1862 period, the As
ISOLATED Press reports.
Governments cost Of short
term borrowing fell with the
latest offering of Treasury bills;
the average yield on $1.3 bill
lion Of 91-day bills was zoos
per cent. down from 2,944 per
cent for the previous week, &C.
cording to the Associated Press.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-02-19
MUTUAL FUNDS

NEW YORK CAPl
= National Associa-
ton Securities Deal.
wEa Vwa
Evening star., 1963-03-27
FSLIC Concerned
BY Short-Term Sales

Inc sale OF short = term de-
mand notes by some savings
and loan holding companies has
aroused concern that this new
means Of attracting funds may
increase potential liabilities for
the Federal Savings and Loan
Insurance Corp.
Chairman Joseph P. McMur-
ray Of the Federal Home Loan
Bank Board, announced yester-
day that his agency is planning
changes in regulations govern
ing insured savings and loan
associations to minimize this
possibility.
A regional Federal Home
Loan Bank might be placed In
the position of underwriting
notes or other obligations Of a
savings and loan holding COM
pany, he declared.
"The board has learned Of a
practice by savings and loan
holding companies. not wide
spread as yet, Of raising funds
through sale Of short-term
notes payable on demand and
OF placing these funds in saw
ings accounts with insured in
stitutions." Mr.. McMurray said
Market acceptance Of these
holding company obligations
Evening star., 1963-03-27
VEPCO Earnings Rise
SHqhtH From 1862

Net income Of Virginia Elec-
trio and Power Co. amounted
to $3.639, 900 in February, COM
pared with s3,340.000 in the
same 1862 period, A. H. Nc
Dowell, jr., president, reported.
Net for IL months ended
February % was $3s ,92e, 900
or $2.37 a share VS.. $34.4 mil
lion or $2.12 a share in the
previous IL months.
February revenues totaled
l7,l70,000, compared with
$l6,027. 900 In February, 1852
Revenues for IL months ag-
gregated sl8S,729 VS.. $l75,-
425, 900.
Mr.. Mcdowell reported con-
struction expenses for two
months this year required
$10.082. 900 OF a 1858 budget
Of $50 million for this purpose
Evening star., 1963-03-27
GIN Adds Shift
At Wilmington

WILMINGTON, Del. (AP).-
General Motors Corp. an
nounced today it will add a
second shift to its Buick -Olds-
mobile-Pontiac assembly plant
here.
Carl w. Dobos, plant man.
ager, said the new shift means
1900 more employees earning
about 81 million a year. Total
employment, as of today, will
be more than 3,700.
Mr.. Dobos said the second
shift is being added because Of
the continued demand for new
cars. The plant hasn't had a
second shift since March, 1858.
Since its l947 opening. it OPP
Grated two shifts only between
April, 1855, and March. 1858.
Evening star., 1963-03-27
Lower Profits Listed
By FoirchId Strotos

Fairchild Stratos Corp. had
net earnings Of $3.057. 900. or 81
a share for 1862. compared
with $3.l2s. 900. or s1.03 a share,
in the previous year. the annual
report said today.
Sales and other income
amounted to S70,5s9 900, COM
pared with s76.668, 900 in 1861.
Edward O. Uhl. president.
said the company made prog
ress in the last year in diversi-
Evening star., 1963-03-27
Banks Lift Real Estate Loans
As Business Lending Laos

has been enhanced by the de-
mand feature, based on the
representation that the holding
company could withdraw funds
placed in its savings accounts
with controlled insured insti-
tutions and that they, in turn,
could meet these Withdrawals
by borrowing from their Fed
eral Home Loan Bank"
Pointing out that the board
has only limited control Of these
holding companies. Mr.. Nc
Murray added that permanent
or guaranty stock associations
controlled by holding COM
panies are subject to such reg
ulations.
Exercise Of the demand priv
ilege in this situation could
cause an undue strain on re-
sources Of the Federal Home
Loan Bank System and an un-
necessary enlargement Of the
insurance corporations poten-
tial liability. he emphasized.
ITO prevent this, the board
proposes that holding company
funds derived directly or in
directly from the issuance or
sale Of its notes or other obliga-
tons, and invested or deposited
in savings accounts with the
controlled institutions, shall be
classed as borrowed money for
purposes of section 563.8 Of the
insurance regulations, the Sec
ton dealing with limitations
on borrowings" he continued
Holding company funds in
vested in permanent. or guar
anty stock are not affected BY
provisions Of the proposed
amendment. Additionally, con
trolled insured institution
would not be affected by thu
proposal If they could estab'
lish to the satisfaction Of thu
insurance corporation thai
funds received into savings &C.
counts were not derived from
sale Of holding company obli-
cations.
The board has published the
proposal in the Federal Refs
ter with an invitation for writ
ten data, views and arguments
no later than April %.
Evening star., 1963-03-27
YOUR MONEYS WORTH
10 Million Women
Head Households
By SYLVIA PORTER


women and A per cent Of the
single women are working.
These percentages dwarf the
total proportion Of women in
our work force and the propor-
ton living with their husbands
who are working.
Finally, an obvious reason is
the tremendous development Of
our social security and private
pension systems in this genera
ton. Again, women who q few
decades ago could not possibly
have headed their own house.
holds after losing their hus-
bands can now swing it because
they have pensions and they
have or can earn extra income
as well.
What does this imply to busi-
nessmen? To me 1t surely i'm
plies a great and growing need
for smaller" products an d
packages in hundreds Of areas
= ranging from food to re-
frigerators. OF the 10,l31 900
woman headed households.
more than 5,540, 900 are headed
by a woman who is an individ-
ual, and chances are six out Of
seven this woman is completely
alone. To huge numbers Of
these, the family-size package
is irritating and wasteful.
Surely it implies a great and
growing need for compact
apartments, designed for on e
person and centrally located.
Surely it implies a great and
growing need for recreation
and community activities aimed
at pleasing the older woman
who is widowed. divorced, sim
gle. While tourism leaders in
our country may deny this, they
are flagrantly neglectiny this
woman's needs - and there are
many among these women who
have plenty Of time and money
to spend on leisure activities.
What does this imply TO Of
ficials in Washington In the
words Of Paul c. Click Of the
United States Census Bureau,
"a responsibility to help the
needy among these women keep
eating and sheltered" Moreover.
Mr.. Click repeatedly empha-
sized in our talk that, "these
women are at ages when doctor
bills become heavy and they
have only their Social Security
checks TO rely on"
The trend toward more wom-
en-headed households will
continue to reach new peaks,
for our whole population is liv-
ing longer and women still are
outliving men. It's more than
time for US TO consider this
phenomenon, to give 1t the
analysis It demands. to find out
what II means.
Distributed, 1919, by the Han Syndicate,
Inc. An Rights Reserved.)
Evening star., 1963-03-27
Helps on Way
For Little Guy
BY CHARLES YARBRoUcH

that the purpose Of the avia-
ton medical physician is to
keep the pilots in good condi-
ton for flying rather than to
seek reasons to ground them"
So
Pan Americans Washington
charmer - El0lse Pleasant -.
will steer the Women's Aviation
Club through its fourth found
ing anniversary observance in
June. -
Miss Pleasant is the new pres
ident of the club made up Of
administrative assistants and
secretaries representing all fac
cts of the airline industry In
Washington. other officers
elected at the March meeting:
Mrs. Wilfred Fitzgerald, vice
president; Patricia TOmlinsOn,
secretary, and Elizabeth Jordan,
treasurer.
The National Aviation Club
honors the Washington based
Airport Operators Council and
President BeIfOrd G. Brown at
a reception Thursday. April 4.
Ex-banker and now general
manager Of the San Francisco
International Airport, Mr..
Brown will lead airport opera
tors into Washington for the
1868 Spring Conference, 10 be
held at the Shoreham next
Wednesday through April 5.
The FAA has honored three
Of its men for special service
and superior performance.
Awards went to:
Herbert F. Fletcher, chief Of
operations and safety at Ma
tional Airport from 1860 to 1862,
He now holds the same post
at Dulles Airport.
Vernon r. GingelI, for special
performance in airport en-
Gineering while chief Of engi-
neering and maintenance at Ma
tional. He is now with the Bu-
reau Of National Capital Air
ports.
Paul F. Long, chief Of the ad-
ministrative Management divi-
sion, FAA Systems Research
and Development Service.
Evening star., 1963-03-27
Switzerland Gets U. S. Bonk Brqneh

banks overseas division. said
the bank hopes to open the
branch in Geneva In mid
summer.
He said Ellis Bradford would
be resident vice president Of
the branch and that there
would be an American manager
and assistant manager and a
staff Of about 20 at first.
Evening star., 1963-03-27
ON WINGS

Now, after some years of what
might be interpreted as toler-
ant neglect, the big trend is
toward doing something for the
general aviation pilot - "gen-
eral aviation" meaning every
thing but the airliiles and the
military.
Beneficiaries Of the far-flung
programs would be more than
5000 student and private pilots
in Washington, Virginia and
Maryland; more than 115,000
across the Nation.
AS 1t should be, the Federal
Aviation Agency is settiag the
pace.
Under Project Little Guy"
the agency has a study under
way to simplify the cockpit and
give the pilot a little more
chance to fly the airplane.
1t has a widely acclaimed
pilot to Forecaster Weather
Service" going, but unfortu-
nately is still operating only in
Washington and Kansas City.
Expansion to % other stations
depends on funds available.
Now the FAA has announced
q proposal to consolidate pilot
flight information publications
to help eliminate a lot Of cur
rent bookkeeping.
Under the plan, the Airman's
Guide, Flight Information
Manual, and other flight in
formation publications would be
eplaced by a streamlined, loose
leaf volume under the title Air
mans Information Manual.
Like the wheel, 1t should have
been invented a long time ago.
Hs&
For the last few years there
has been q great build-up for
additional general aviation air.
ports. Now the Urban Renewal
Administration has joined with
FAA to stimulate airport plan
ming as part Of comprehensive
urban development.
The Texas Medical AssOcia-
tiOn notes that more and more
people. being bitten by the fly
ing bug are taking to the air
in private planes instead. Of
fighting crowded highways"
The March issue of The
Texas State Journal Of Medicine
carries an article by Lieut.. Col.
w. Musgrave, chief Of the pre-
ventive m e dicine branch
School of Aerospace Medicine
at Brooks Air Force Base.
Private aviation poses bigger
medical problems for both the
amateur pilot and his physi-
clan Col. Musgrave says.
But, he concludes happily
Evening star., 1963-03-27
MCNAMARA APPROVES
U.S.. Saves Millions Buying
Foreign Drugs for Military

The drug is now being bought
from A. s. Kabl, of Stockholm,
for $3.50 for 500 tablets. Whole
sale prices quoted the Penta-
gon by United States firms were
around SIT. An equivalent
amount bought in American
cut-rate drug stores would cost
$3.50. Miltown is the trade
name Of the drug by Carter
Products. Equanil is the trade
name used by Wyeth Labora-
tories.
Two years ago nitrofuranton
cost $3.50 per bottle Of 100 tab
lets from Italy. Subsequent or
ders reduced the price to $2.95.
Wholesale prices here are sew
eral times higher.
The drug sulfadiamine costs
only --$4.64 per 1000 tablets
when bought in Denmark. It
costs several times more do
mestically.
Drug companies point out
the sharp decrease in the death
rate Of both young and old and
stress the need Of adequate
funds for research to continue.
Pirating Charged
They also claim that foreign
drug firms. especially in Italy, I,
where there is no adequate
patent protection. have "pira-
ted" their patents. The Euro
peans counter by claiming that
American manufacturers hire
their best chemists, who take
secret chemical formulas with
them.
Angry protests have made
little impression on Pentagon
procurement officials. The JUS
tice Department has antitrust
action pending against the
manufacturers Of tetracycline
and meprobamate in the United
States Court for the Southern
District of New York.
Evening star., 1963-03-27
By DONALD b. HADLEY
Star Financial Editor

With deposits at record levels
and demand for commercial
and industrial loans tagging
behind q year ago. Washington
banks have increased real
estate loans and investments in
securities, the Federal Reserve
Bank Of Richmond disclosed
today.
While commercial and indus
trial loans Of three major in
stitutions here were 4.S per
cent behind a year ago on
March 20, their real estate
loans were up alt per cent
and investments in Federal
and other securities rose 6.3
per cent.
Commercial and industrial
loans Of Riggs National, Ameri-
can Security 81 Trust Co. and
National Bank of Washington
aggregated s144,053. 900, COM
pared with $151,l23.000 on the
like 1862 date. They were
slightly ahead Of $141,1e0, 600
a week earlier, however.
Real estate loans totaled
$206, ,792, 900 on March 20, COM
pared with $3.50, ,859 900 a year
earlier. although they were off
slightly from $l41,1S0.000 q
week earlier.
Total loans amounted to
$653, ,297, 900 VS.. $640, ,993, 900 q
week earlier and $602, ,519, 900 q
year ago. Loans to other COM
mercial banks, a comparatively
small item, jumped to $21.l
million on March 20 VS.. $6.s
million a week earlier and s.
million on the like 1862 date.
Investments Of the three in.
stitutions rose to $505, ,99s, 900
compared with $50l ,244, 900 9
week earlier and $475, IT'S, ,00C
on the like date last year
Holdings of Federal securities
expanded to $426. .75s.000 from
$422 ,939, 900 q week earlier and
$410,067,000 a year ago.
Deposits Of the three insti-
tutions totaled $1,315,730, ,0OC
on March 20. compared with
$1,315,753,000 a week earlier
and $l.23l. .081, 900 on the like
1862 date.
Demand deposits amounted
to $938,82S,000 VS.. $685., ,053, 900
a week earlier and $897 ,923, 600
q year ago. Time deposits to-
tailed $376,902, 900 VS.. $376,7 ,700,-
600 a week earlier and $685.
l56. 600 a wear earlier