davidaulloa/AmericanStories huggingface dataset:
Evening star., 1963-05-12

Will the young shade tree
You planted last fall or this
Spring still be alive at the end
Af summer?
Assuming that the tree was
blanted at the right depth in
fich, moist soil, its survival de-
bends largely upon the care
you give it during the next few
months. Until 1t fully recovers
from the shock Of transplant
ing and is actually growing in
its new location. the tree needs
a. great deal more attention
than will be required later.
Water is an absolute neces-
sity to a newly planted tree.
The soil that surrounds tn e
roots should be constantly
moist.
Deep Watering Urged
IF the soil is sandy, normally
you should water about once q
week; If 1t is largely clay, about
every ten days to two weeks.
The National Arborist AsSocia-
tiDn warns against depending
upon lawn sprinkling to furnish
enough water for the tree; use
a soil irrigating needle. or let
the water flow slowly from an
open-end hose until the soil is
saturated. To make sure you
are applying the right amount
Of water. check the condition
og the soil in the root zone oc-
casionally; you can do this with
an earth auger or by digging
down with an ordinary spade.
SAt the time of planting. the
tree usually is braced against
vand sway by means Of stakes
and rubber hose or with guy
vlres. Examine these bracings
frequently and make repairs as
needed. The bracing should be
firm, but not so tight that IL
phts a strain on the tree. Make
spre that the hose sections en-
Sfcling the trunk are not rub
hing or cutting into the bark.
Generally the trunk Of q
Wansplanted tree is wrapped
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07

II was stunned by that Al
per cent figure myself, still
am" Mr.. Wright answered.
He's extremely concerned about
the reasons given for quitting.
The three aforementioned rea-
sons involving the corporation
were reorganization and re-
alignment of responsibilities, I"
meaning the mpany was
merged or bought out; poor
management" m e a ming the
company was losing money;
"stagnant situation" meaning
the company was going down.
hill and the man wanted out.
The three aforementioned
personal reasons were: pro
motion block" meaning the
mans ambitions were frustrat-
ed; poor direction" meaning
he made a mistake in the first
place; at ceiling" meaning he
couldn't go higher.
The hidden cost of executive
turnover explains why the ex-
ecutive recruiting profession,
virtually unknown before
World War II, is now firmly
.entrenched at the highest level
Of business management. These
firms are not employment
agencies. They work only for
the corporation seeking execu-
tive talent; are paid a fee for
professional services only by
the corporation, and their as
ISOLATION. formed in 1859, has
set a stiff code Of ethics.
There is a serious indictment
Of American industry today i'm
plicit in this report, and both
Mr.. Wright and Hardy Jones
of the firm of Ward Howell
Associates and past president
Of the Executive Recruiting
Consultants Association, were
refreshingly frank in our dis
cussion Of 1t.
The strong trend towar d
mergers and acquisitions Is
making us more and more {
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
BUSINESS BRIEFS

Retail Sales in week ended
June 20 were $4,95O, 900, 900, up
SO from the year-earlier figure
and Az more than sales of
s4,750, 900, 900 the previous week.
Commerce Department.
Rail Freight loadings in week
ended June 20 were COL, 879
cars, up 1859 cars from the
previous week and 1926 more
than in the like 1862 week.
Association Of American Rail-
roads.
Leading Supermarket chains
and their 1862 sales were listed
as APP, $50 billion; Safeway,
$2.5 billion; Kroger, $1.9 bill
lion; Acme, $1.l billion, and
Food Fair, 81 billion. Sales
were $4.4 billion higher than
m 1961.-Food Topics.
Exports In May totaled $1.9
billion, down 10 from April.
For 5 months, exports at an
annual rate of $21.41 were up
go from the corresponding
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
New Records Set
By National Union

Assets Of National Union In
surance Co. of Washington set
a new record of $1,146.7l1 on
May 81, a gain of 20.4 per cent
from the same 1862 date, Pres
ident Alfred T. Curlee reported.
The policyholders' surplus
increased 9 per cent to $747,-
GA on May 81. highest on rec
ord.
Earnings for five months this
year we're Sal, 796 or 80 cents a
share after tax. including un-
derwriting income of $l1,5
and a net investment gain of
$30,197. Premium sales Of
1882, 766 were a new record.
An operating ratio of BIS
per cent was much improved
from 1l9 per cent in the same
1862 period. The loss ratio was
46.2 per cent and the expense
ratio 1873 per cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Mid-Year Confidence Noted

per cent to 2,3lS,OOO tons from
the previous week. Buyers were
holding down orders because,
with the new labor contract,
there was no further need to
build inventories.
There was some cutting back
of employment. Pittsburgh Steel
Co. said 1t would furlough ESQ
to 1000 workers in the next
three months.
The Federal Government in
dicted eight steel firms and
nine Of their executives on
charges of price-fixing in the
$75-million-a-year castings in
dustry. Companies accused
were Bethlehem Steel, Baldwin
Lima Hamilton Corp, Blaw-
Knox Co., Erie Forge g. Steel
Corp, Textron, Inc, General
Steel Industries, Inc, Birdsboro
Corp. and Penn Steel Castings
Co.
The Fourth Of July holiday
cut into automobile production
with output estimated at 1874
600 cars, compared with 1878
last week and 1882 a year
ago.
Production schedules for July
call for assembly Of about
$4,000 passenger cars, which
would be the highest for the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Financing of Homes
Reported Easier

Pressure Of new savings has
brought a notable easing in
the cost of home loans in the
first five months of this year
and improved the opportunities
for home ownership by the aver
age American family, Chair
man Joseph P. McMurray of
the Federal Home Loan Bank
Board reported yesterday.
Annual interest rates on con-
ventional loans to finance the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07

not quite matching that Of
the first half. They also en-
visioned a rise in capital spend
ing by business and an increase
in government spending.
But, in their view, the prob
lens of high unemployment
and the deficit in the inter-
national balance of payments
will remain.
Another group of Industrial
lists polled by the first national
Bank of Chicago expressed
more confidence in a high level
of business for the entire year
than they had felt six months
ago.
M. Monroe Kindred, president
of the American Bankers AS
ISOLATION, commented:
There are good reasons to
be optimistic about the outlook,
and it is obvious that business
sentiment has improved con-
siderably. The prospects are
that the American economy will
expand through this year and
into next year, perhaps even
more than moderately"
Steel production declined
again last week and another
sharp drop was inevitable this
week. Output last week fell AZ
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
BY JACK LEFLER
AP Business News Writer

NEW YORK - Business
headed into the second half
of 1868 last week with the OUT
look favorable and only a few
dark spots showing.
It was a time when business
men put their heads together
to look back at the first half
and into the future.
The first six months were
notable for a remarkable gain
by the stock market and BOOM
ing production in the steel and
automobile industries.
What the second half holds
for the stock market is any
body's guess but many wall
streeters expect it to reach new
all-time highs. The outlook for
steel isn't so good. The auto
mobile industry anticipates
continued high output and
sales.
A panel Of experts assembled
by the U. S. Chamber of Com
merce predicted a moderate
climb in economic activity dur
ing the second half.
They foresaw an increase in
the gross national product
total of all goods and services
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Mid-Executive Turnover
Is Hidden Industry Cost
BY SYLVIA PORTER

society of Organization men"
who conform or else. $50 many
men of high caliber are frus-
trated and making compromises
they shouldn't make" Mr..
Wright said. What we are Gre
ating is vast acres of medioc-
rity in our industrial society"
1.-THE way a few families or
a dozen or so men control the
industrial and social life Of
many major cities in this coun-
try profoundly worries me-"
added Mr. Jones. This fact is
collapsing the middle-manage-
ment segment of our society.
If a man isn't accepted by
these few, he's dead And once
he gives UP and resigns him.
self to staying on a plateau, he
begins to go down" Both Mr..
Wright and Mr.. Jones named
names Of cities and families.
They are deadly serious about
is.
Is there any way out2 Both
men resent the trends because
of what they are doing to tn
individual man, but neither
sees a way out now. They adj
wise any man Of drive and in
itiative to develop a speciality
as early as possible in life as q
protection" Mr.. Jones said at
one point:
MY two sons aren't going
into industry. One is going
into medicine, the other into
newspaper work. They will not
be caught in what we see day
after day"
distributed 1868. by The Hall
syndicate, Inc. All Rights Reserved
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07

advertising agencies are de-
handing proof Of claims. Re
Sponsible media are passing up
millions Of dollars in advertis-
ing revenues rather than accept
unsupported claims. :"
Media" In the sense used
by Mr.. Dixon and Mr.. Wilson
means advertising systems such
as newspapers. magazine, radio
and television provide.
Their views were sought be-
cause Of the great growth of
advertising-it was a $12.5 bill
lion business last year as COM
pared to less than half that in
1950-and complaints that
some fast-buck characters
never stop trying to cheat the
public.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Two Sails SET
Asset Records

Despite the general softness
in the demand for mortgage
money, National Permanent
Savings & Loan Association
has increased its loans IS per
cent in the last year, Presi-
dent John w. Stadtler dis
closed yesterday.
A record loan total of $780,
100000 on June 80 was $l6,-
$4,000 ahead of $113,712, 900 q
year earlier and $10.4 million
OF the gain was in the first
six months of this year, Mr..
Stadtler emphasized.
Ranking as WaShington's
third largest savings and loan,
National Permanent had record
assets Of $147,284,000 at mid
year, gaining 1875 per cent from
$l27,613,000 a year earlier.
Invested savings, also at a
new peak. totaled $l27,l28,O 900,
rising IA per cent from $685.
AS, 900. Reserves of the 73-
year-old association totaled
$9,O64,000 on June 30, up los
per cent from $8,114,OO0 a year
ago.
Assets of the Columbia Fed
eral Savings & Loan Associa-
ton set a new record Of $107,-
S15,181 on June 80, with an
increase of 1872 per cent from
$90,057 ,618 a year ago, Presi-
dent Clarence E. Kefauver re-
ported yesterday.
Invested savings reached a
new peak of $93,34O,617, up
17.2 per cent from $79,674, 7O2
on the same 1862 date. Real
estate loans of SOL, 628,574 were
up 1879 per cent from $77,064,-
814.
Reserves stood at $5,414,009
on June 30. up 9.6 per cent
from $4,939,366 on the same
1862 date.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07

month since 1855. June output
of 689,519 cars was the highest
for that month in history.
The time of decision drew
near in the railroad industry.
The railroads said they win put
into effect next Thursday work
rules changes which the unions
have said would mean a strike.
In that event congress is ex-
pected to act a avert q nation
wide railroad strike.
Spending on new construc-
ton rose in June to an annual
rate of $63.74 billion, about
$3.50 million above the original
estimate. The June increase Of
6 per cent over May was more
than seasonal.
Briefly around the business
scene: The F. w. Woolthworth
Co., variety store chain, will
acquire the 570-store G.. r.
Kinney Corp. shot chain
major producers raised the
price of lead "a cent a pound
and of zinc " cents a pound
higher dividend payments
were made by 668 companies in
the first half Of this year than
a year earlier about 141
million americans had some
form Of health insurancecover-
age at the end of 1862.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Builder Aid Outlined
By Barber & Ross

Barber & Ross, 87-year-old
Washington building supply
firm, and its financing subSid-
larry, lexington Investment Co.,
have initiated a new program
to help qualified smaller build
ers meet corporate competition
in the home construction field.
President s. Ross Lipscomb
said mortgage financing, adver-
Using and technical consultants
will be provided along with
data on new products and re-
search development. A choice of
Is different models of cost
controlled manufactured homes
from the firms Leesburg (Va.)
plant also will be possible.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Nv T. w. DAVIS

Associated FresS NeWsteatureS writer
Two men who are much in
terested in the American con-
sumner say he is pretty well
guarded these days against
those who'd like to cheat him
through false claims.
They don't by any means
say the consumer can rely 100
per cent on all the claims that
are made for everything Of
fered for sale in America today.
Here's what they do say:
/. Paul Rand Dixon, chair
man Of the Federal Trade Com
mission, Government watchdog
against business fraud and de-
ception-
II think our advertising peo-
pie are doing q remarkable job.
Their slogan is truth in adver-
tising,' and think they realize
we could Ill afford to have q
cynical public.
II think that between the
media and the Federal Trade
Commission, our consumers are
getting pretty good protection"
He adds that even these best
efforts would fall short with
out the tremendous self policing
capacity Of American business"
2. Kenneth B. Wilson Of
New York, president OF the
National Better Business Bu-
reaus, a private anti-fraud Or
ganiztion formed and backed
by businessmen
There has been a significant
improvement in recent years in
the reliability Of national adj
vertising.
Advertisers in increase
numbers are foregoing exagger-
ated claims. More and more
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07

purchase of new homes declined
steadily from 500 per cent in
January to $50 per cent in
May, Mr. McMurray said,
Loans for buying previously oc-
cupied homes dropped from SOS
per cent to SOS per cent in
the same period, he added.
While easing less consist
emily, fees and other loan
charges now are down to about
0.6 per cent of loans on both
new and existing homes, he
said. Current conventional
loans are being written at 72.S
per cent of new-home prices
with 23e years to maturity;
also ia II per cent of existing
home prices, with a 19.3-yeal
average maturity.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07

1862 figure. Census Bureau.
Crude Oil Stocks en- June 20
totaled 255,734,000 barrels,
rising 2,227,000 during the
week.-Bureau of Mines.
Bank CIearings in 26 leading
cities in week ended Wednes-
day totaled $36,806, $4,000, UP
$50 from the previous week.
Dun & Bradstreet.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Peoples Drug Sales
Reach New Hiqhs

Sales Of Peoples Drug Stores,
Inc, in both June and six
months Of this year were the
highest on record for those
periods, Treasurer H. J. Alt
house reported.
June sales Of $9,451 ,478 were
up 8.6 per cent from $8,705, 1893
in June last year. Six months
sales of SIS, 400, 489 were 9.6 per
cent ahead Of S50,562,194 in
the same period last year.
The company operated 224
stores in June, compared with
2l3 a year earlier.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07

to $l,056, 1903 for the six months
compared with $735,749 in the
same period last year.
Net operating income before
taxes and reserves rose to ST.
493 900 or $2.86 a share in the
six months, compared with
81, $4,000 or 1922 a share a
year earlier.
Gross income aggregated ST.
565, 900, an increase of l5.9 per
cent from $6,522,000 in six
months Of 1862. Disbursements
of $5,072, 900 were up around
10 per cent from $4,593, 900.
Reserve for loan losses required
$4,000 VS.. $4,000 and re-
serves for Federal income taxes
required $1,O57, 900 VS.. $S75, 900
Stockholders received cash
dividends of $499, 500 in the six
months VS.. $428,250. The bank
transferred $556,S08 to un'
divided profits, compared with
S307 ,498 a year ago.
The record assets on Junt
80 were $32 million above the
combined total year ago fol
Suburban Trust and the Citi'
Gems Bank of Takoma Park
which were merged in October
1862.
Mid-year deposits of $243,'
100000 were $26.8 million or /:
per cent ahead of a year ago
Outstanding loans exceeded
$3.50 million, gaining around 19
per cent. Mortgage loans were
up $13 million or % per cent
while business and personal
loans were up $12 million or
16 per cent.
Capital funds totaled $19,-
$4,000 on June 80, compared
with $15,724,00O a year earlier
a Jump of 26 per cent. Reserves
for losses on loans amounted
to $2,207, 900 VS.. $1.720,000.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Government and Business Protect
Consumer Against Fraud in Ads

Mr.. Dixon has been pushing
the FTC's work against fraud
and deception since President
Kennedy appointed him to the
top commission post more than
two years ago. He came to the
job after having worked for the
ETC in 1938-57 as an examiner
and then serving as counsel for
the Senate Antitrust and Mo-
nopoly Subcommittee In 1887
81 under the Craftsmanship of
q fellow Tennessean, Democrat
Estes Kefauver.
Sigurd Anderson, a Republic
can member Of the commission
who used to be Governor of
South Dakota, this year made
up a special list Of complaints
that have moved the ETC to
action. Here are several of
those on the list, with Mr..
Anderson's comments:
Arthritis Cures - Here we
have the cruelest Of all decep-
tons. Most arthritis victims
cannot be cured because there
are few cures for arthritis. This
aching, nagging affliction has
been a great money maker for
operators who glowingly adj
vertise and sell pills that are
made OF aspirin with additives
OF doubtful worth; copper, zinc
and other metallic bracelets
and ankletS or metal heel
plates, all claimed to bring great
relief The number of these
cures that the ETC has
stopped is great"
Obesity Cures - "This il a
profitable area of operation
Here 1t can be said that those
who offer and sell these cures
literally live off the fat Of the
land It is quite a temptation
Tor an overweight person to
buy preparations that permit
him to eat his favorite food
and at the same time enable
him to lose weight Medical
authorities are firm on the
proposition that caloric intake
generally determines weight"
WOrk-At-HOme Schemes =
These alleged opportunities
are offered to the aged, the
crippled, the retired or the
part-time workers Of our coun-
try 1t is indeed a cruel
preparation Of fraud to prac-
tice upon such persons who are
so badly in need.
Educational Frauds-"There
are many fine correspondence
schools in the United States
But there are also many cor
respondence schools whose
courses are of little, If any,
value In this connection
the commission has taken ac-
ton against correspondence
schools offering practical
nurses training, heavy machine
equipment training, prepara-
ton for Government positions
in foreign countries, airline
hostess work and airline
mechanics work and many
others that have been found
to be deceptive and fraudulent
in nature -"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Suburban Trust Net Scars 1850

1,115,814 were ga per cent
ahead Of 81, 056,677.
Founded in January, 1858, the
bank has shown steady growth,
In addition to its main office
in the Seven Corners Shopping
Center, it has five branches.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Growth Continues
For Fairfax Bank

The Fairfax County National
Bank had record assets Of $14,-
S43, 781 on June 90, date of the
recent bank call. gaining A per
cent from $10,425,148 on the
like date last year. the mid
year statement from President
Dale H. Smith showed.
Deposits of $12,499,821 also
were up A per cent, from So
660,258 a year earlier, while
loans and discounts of $685.
OCT were "a per cent ahead of
$5,214,439. Capital funds of
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07

ord for the month and las per
cent ahead of 1851 ,059 in the
same 1862 month, President
Milton L. Elsberg said.
Sales in six months of this
year expanded to $23,219,701,
a gain of 1914 per cent from
$20.654,459 and also a new
peak. Sales for the fiscal year
reached SAT 1853, 124, up 1875 per
cent from $42,516,485 a year
earlier.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Drug Fair Volume
Up 14% in June

Sales Of the Drug Fair-Com-
munity Drug Co. amounted to
S4,l59,l94 in June, a new rec
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Assets Increase So Million
To $27O,425, 900 at Mid-Yeor
BY DONALD b. HADLEY
Star Financial Editor

Net income of the Suburban Trust Co. scared 435 per
cent above yearearler figure in the first six months Of this
year and reached atime high Of $270425 900
at mdyear announced yesterday by Board Chairman
T. Howard Duckett and President j. Robert Sherwood.
Net income after provision for amounted
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
TREASURY BONDS

NEW YORK (AP)-Over the Counter
US. Government Treasury Bonds, weekly
high, low and closing asked prices, the
net change from the previous weeks
closing asked price and Weld.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
YOUR MONEYS WORTH

He is under so, is earning a
salary OF at least $4,000, is a
middle management executive
reporting directly to the top
brass. The chances are good
such a man quit his last job
after holding it only "a to SO
months; Al per cent Of a cross
segment of this key group in
American industry quit their
last jobs after this short pc
Rod. The chances are over
whelming that he stayed on his
last job less than 10 years; Is
per cent of this group resigned
their last posts well before the
l0-year milestone.
The middle management
man in American in dustry
holds a position Of crucial i'm
portance to our economy's fu-
ture. His brainpower, drive, in
itiative and dedication can
push a corporation to the top
or doom 1t to dry rot. His ideas
and freedom to follow through
on ideas will help determine
whether or not a company is
or becomes mediocre. More
over. this man costs big money
to find, hire, train and keep.
Yet the Al per cent figure
reveals an astounding turn
over at this executive level.
1t represents a hidden cost
to corporations which never
appears on a balance sheet and
isn't even acknowledged by
most leaders Of industry. But
1t runs into countless millions
of dollars a year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Chief Reasons

why this tremendous turn
over?" I asked Donald Wright,
a partner in the New York ex-
ecutive recruiting firm of An
tell. Wright g. Nagel, new pres
ident Of the Association Of Ex-
ecutive Recruiting Consultants
and the man who has been
gathering these pioneering sta
tistics on executive turnover.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
OVER THE COUNTER QUOTATIONS.

The following bid and asked prices are
obtained from the National Association
of Securities Dealers, Inc, and other
sources. They do not represent actual
transactions; they are intended as a guide
to the approximate range within which
these securities could have been sold
Indicated by the bid or bought dndi-
Gated BY the Asked at the time Of com
pilation at 4 PM, Friday, July 5, 1858.
Origin Of any quotation furnished upon
request.