davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07
Atlantic Research Profit
$1,325,5o5 in Nine Months

tons Co., whose operations
salaries, but did not include
have been terminated, or North
eastern Engineering, Inc. Both
Of these companies were writ
ten off completely against
earlier operations of ARC.
In the nine months, Nor
theastern had a loss of $243,578
on revenue of $2,248,264. OF
this net loss, $109,9l0 rep
resented interest payable to the
parent company, but not car
ried on the ARC books.
The parent company's new
orders climbed to $5l million in
the nine months, a gain of 70
per cent from a year ago Presi-
dent Rice said.
In the nine months, North
eastern had a loss of 243,578
or rs cents a share was earned
by ARC on $15,651,244 of sales. |
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07
STATE LOAN
INCREASES
ITS DIVIDEND

Directors Of State Loan
& Finance Corp. today
increased the quarterly
dividend on Class A and
B common shares to 2712
cents a share from IS
cents paid previously. Pres
ident David A. Penney an
nounced.
This placed the stock on
an annual dividend basis
Of $1.10 a share. compared
with 81 a share previously.
The latest dividend viii be
paid December Is to hold
ers Of record November %.
Mr.. Penney said direc-
tors felt the steady i'm
provement in earnings JUS
titled the higher dividend
on common stock. A quar-
terly dividend Of 3712
cents a share also was de-
clared on the 6 per cent
cumulative preferred stock.
also payable December Is
to holders of record No
vember %.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07

Atlantic Research Corp. had
an after-tax profit of $1,325,595
or Sc cents a share in the first
nine months of this year, Presi-
dent M. Lee Rice reported yes
terday.
No comparable figures for a
year ago were available because
the company did not issue
quarterly reports in 1862. How
ever. the firm had a net loss Of
81. 463,723 for all Of that year,
including losses of subsidiaries.
Sales in nine m onths this
year aggregated 5,993, 694,
compared with operating rev.
enues of $33,O53, 1872 for all of
1862.
The company figures for
nine months included results of
two. small but profitable sub
results of General Communica-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07

efficient as those in today'S
cars are theoretically possible
|. (and) scientists, with the
aid of an electronic computer,
recently created a methemati-
cal model Of an ideal internal
combustion engine"
This, he said, included COM
preston ratios as high as 5000
to one, compared with present
ratios in United tSates cars of
about 10 to one. The oil in
duStry will have to develop
radically new fuels" to go
along with the new engines.
New jet fuels for supersonic
aircraft are being developed,
Mr.. Hakala reported, with sta
bility at high temperatures. He
predicted that the total free
world demand for jet fuels of
all types will reach 982 900 bar
rels per day by 1865.
New, low cost building ma
terials based on petroleum will
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07

Creation, by Bangor and
ArooStook Railroad, of a separ-
ate company which later took
over q credit company, a boat
manufacturer, and an eng
ineering firm.
A changeover of the Minnea-
polls and st. Louis r ailway
into MSL Industries, Inc, to
allow the company to do other
lines of work.
Adoption. by Illinois Central
Railroad, Of a plan to set up a
new corporation, &c Industries.
Inc, that would diversity the
lines efforts.
And creation, by Kansas City
Southern, of K ansas City
Southern Industries, Inc, to
take the line into stock man.
a g m EN- t and advice, among
other lines.
The industry's moves have
been stimulated lately by the
Interstate Commerce Commits
sion's refusal to let them get
into other lines of transporta-
tion-trucking or barg
movement. particularly Lack
ing that kind of opportunity,
the roads have found their eco
nomic status still compelling
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07
BUSINESS BRIEFS

Bank CIearings in 26 leading
cities in the week ended No
vember 6 totaled $31 1898, 807,-
900, down 1.69o from the pre-
vious week, and up SO from
the like week a year ago.-Dun
& Bradstreet.
Electric Power Production in
the week ended November 2
totaled 17,457, 100000 kilowatt-
hours compared with 1891
100000 in the previous week
and 16,247,000,000 in the like
week a year ago.-Edison Elec-
trio Institute.
Business Loans by member
banks in the week ended Octo-
Der 80 totaled $36,296, 900 900,
down $14 million from the pre-
viouS week, but UP
$4,000, 100000 from the lik e
week a year ago.-Federal Re-
serve Board.
Crude Petroleum Production
in the week ended November l
totaled 7,571,010 barrels, down
37,250 from the previous week
and compared with 7,313,960 in
the like week a year ago.-Am-
erican Petroleum Institute.
w. T. Grant Co. October
sales totaled SIS, 1852 ,OO9, down
3.3 per cent from 1862; for 10
months $5O9. 200. 264, up 1.9 per
cent from 1862.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07

them to find other sources of
earnings.
Still, their plans may not yet
be free of ICC veto. Rail indus
try officials say they are I'M
certain Just how much authori-
ty ICC has to pass on their d.
versification plans.
Nevertheless, the move for a
new look" seems a definite
one. Mr.. Saunders made that
clear yesterday, as he talked OF
giving his road "a look of pro-
gressiveness, imagination and
determination"
He announced plans for "a
substantial capital progra
next year for freig hit equip
ment." and a campaign tc
reshape freight rates to sui
shippers special needs.
Even the immediate future Il
brig h t. Mr.. Saunders tolC
newsmen. Were going to have
a pretty good fourth quarter,
he said. And, for the full year
the road expects to make 6
fair margin" of profit, he de.
clared. In 1862, the road ran ir
the red.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07
Home Lenders
Warned About
0bsOIescense

SAN FRANCISCO, AP)-
Half Of today's IS million hous-
ing units, including many
homes built this year. will be
obsolete and hard to rent or re-
sell by the time a 30-ye ar
mortgage written today is half
paid off, q vice president Of
Time Inc. predicted.
In a speech prepared for the
United States Savings and
Loan Leagues list annual con-
vention, Perry Prentice warned
against "the kind Of housing or
apartm ent which n nobody
should be building today, the
kind of housing that is already
obsolescent before it is fin
ished."
Mr.. Prentice, who is In
charge of all building field
matters for Time Inc, told the
savings and loan officials that
this Speed-up Of obsolescence
lis bad news for mortgage lend
ers who have dropped
their standards and sunk their
money into mortgages whose
security won't stand up"
But it should be good news
for discriminating mortgage
lenders because It assures them
of an enorm Gus demand for
mortgage money" he said,
twice as big a demand as they
could expect If obsolescence
we're not doubling the market
for better homes and thereby
doubling or tripling the need
for mortgage money"
Mr.. Prentice predicted that
obsolescence will create q re-
placement demand, averaging
at least q million new homes q
year. on top of the population
growth demand for at least a
million homes a year.
He said the Nation Is now
selling new houses and apart
ments 60 10 per cent faster
than new ia miles are being
started to live in them.
Mr.. Prentice said that the
Nation now has 2.5 million
housing vacancies, but that the
full impact of this surplus will
not be felt until about eight
years from now when some 4
million sub-standard units are
replaced.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07
Dover Plans to Acquire
DolIus Company

Dover Corp. has signed an
agreement to acquire assets of
the Hunter Hayes Elevator Co.
of Dallas, Texas, in exchange
for $2.5 million of two classes
Of preferred stock.
The plan is subject to ap-
proval of the stockholders of
both firms. The Dallas firm
is the largest non-manufactur-
ing independent elevator COM
pany in the Nation. Its activ-
tiles are devoted entirely to
installation, service and repair
Of elevators. Annual sales ex-
coed 81 million.
With headquarters in Wash
ington, Dover Corp. controls a
wide range of industrial COM
panieS.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07

oenL ana secretary. James 2.
McAleer was promoted from
assistant secretary to secre-
tary.
Association assets aggregated
5l,s57.736 on October 81, a
gain Of 1856 per cent from
s44,577,870 a year ago and far
above $2S.6 million Just five
years ago, reported President
Edward L. McAleer.
Invested savings also reached
a new all-tim e high of
$44. 1892. an increase of 10
per cent from $40,718,755 a
year ago and well ahead of
around $2s million five years
earlier.
Mortgage loans reached a
new peak Of $45.671,s 73 on oc-
tober 81, a gain Of 1876 per cent
from $39.158,376 a year ago
and around $26 million five
years ago.
Association reserves of
So, 458,724 on October 81 were
up 8 per cent from $3,203,153 a
year earlier and compared with
$2.4 million on the like 1858
date.
Mr.. johnson started his bust
ness career with the old WASH
ington Loan & Trust Co. back
Savings in october, 1919.
However, he stuck to classes
In Washington Chapter, Ameri-
can Institute Of Banking, and
became an ALB graduate in
1922.
he mas been general chair
man for seven annual conven-
tons of the District Savings
and Loan League and a men,
Der of the leagues executive
committee for two years. He
has served on many other
league committees.
Charles H. Doing, Robert l.
Lewis and John P. Birchy are
Equitable vice presidents.
All directors we're reelected
as follows: Edwin L. McAleer
Mr.. johnson, Fcntaine c. Brad.
ley, Mr.. Doing, James c. Du-
lin, Richard F. Green, William
E. Kingswell, Alfred H. lawson
Mr.. Lewis, Otis H. Ritenour
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07

help to make comfortable, dur
able homes"
Some recent results in the
laboratory indicate that food
stuffs from petroleum may be
available for animals and
perhaps some day for human
consumption"
Mr.. Hakala also cited the use
of petroleum material as an
agricultural mulch" and as a
stabilizer Of sand dunes.
Under responsive climate
conditions, the new mulch can
greatly increase crop yields and
values in many parts Of the
world, including those where
food supplies are low. Field
tests still under way have re-
suited in yield increases rang
ing from 10 to Ill per cent on
a broad variety of crops. The
mulch retains moisture in the
soil by reducing evaporation
and increases soil temperature
by as much as 20 degrees Faren-
heit, thereby stimulating early
growth"
Other examples of current
research, he said, are:
THE possibility of causing
rain for arid areas by creating
a thermal mountain The ther-
NAL mountain would be formed
by paving a large arid area
with asphalt which would alb
serb heat and cause a noun
famous updraft. This would
force other moist incoming air
to rise and cool and in this way
form rain. While still in the
idea stage, this technique seems
theoretically possible and may
be competitive in cost with irri-
CATION or the provision of water
by desalination.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07
Vast New Oil Industry Horizons
Described at Arab Conference

BEIRUT, Lebanon (AP).-
An American researcher says
that the oil industry is ex-
panding towards vast new hori-
IONS ranging from super fuels
for super cars to producing
rain over deserts.
N. v. Hakala, managing d.
rector Of ESQ Research, Ltd,
told the fourth Arab Petroleum
Congress that free world ex-
penditures on petroleum re-
search and development are
approaching a half billion dol
lars per year."
ut Is my firm conviction
that research will continue to
point the way toward growth
and expansion for the oil in
duStry," he said.
Part of this, he said, will
come from imaginative and
revolutionary new uses"
Citing examples, he told the
more than 600 delegates:
Automobile engines twice as
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07
BabsOn's Sees
NeWSfOckR

Despite market weakness
after the raising Of stock mar
gin requirements, the Dow
Jones industrial average will 60
to 800 within six months and
probably by the end Of this
year, predicted John D. Rior-
don, analyst and editor Of Bah
sons Reports, Inc, here today,
Mr.. Riordon, who predicted
the increase in margin require
ments two days before it hap
pened, joined with Arthur c,
Babson, vice president, in I'M
usually optimistic forecasts at
the annual Babson clients meet
ing at the Statler Hilton Hotel,
Mr.. Babson, Just back from
a trip to Europe, said the con-
tinent is under heavy pressure
to increase wages and prices
and that If the United States
plays its cards right the balance
of payments problem will grad
ually disappear.
II have come to think that
the balance Of payments prob
lens is a blessing in disguise
because it has forced President
Kennedy to watch price in.
creases pretty carefully" he
declared.
1--WE are looking for another
healthy year, but no spectacular
BOOM" he added. Carefully
weighing all factors, our projec.
ton for business activity during
1864 is for only a modest 4 PEI
cent improvement over thi
years high rate.
IF we could have both a ia,
cut and fiscal responsibility IL
curtailing Government ex
penses. then the business eli.
mate in 1864 could be very
favorable indeed"
Mr.. Babson said about $780,
billion will have been spent or
1858 plant and equipment ex-
pansion by the years end, a
new record, versus 1918 billion
in 1862.
I'm 1864, we think the COM
petition-driven businessman will
be even more generous in this
regard because Of the new
lower tax rates. depreciation
guidelines and the investment
tax credit" he said.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07
a OTHER ROADS BRANCH OUT
Pennsy Diversifying Study
Boosts Industry Trend

NEW YORK (SpeciaD The
Pennsylvania Railroad has CIV
en- impressive-if S o m e W h a t
mysterious-support to a rail
industry move into other lines
Of business.
Stuart T. Saunders, the
Pennsylvania board chair
man. told a New York press
conference yesterday his line Is
going to have "a new look"
Even now, he said, the railroad
is actively considering a variety
OF proposals to diversity.
But he wouldn't reveal what
kind Of business the Pennsyl-
vania might move into, because
his plans are still embryonic. "
He did say. though. that some
move outside transportation
could be made.
If the Pennsylvania, the In
duStry's largest by several mea-
sures. does get into other lines,
it would strengthen signifi-
cantly an industry trend.
Other Roads Diversity
Within the last few years, at
least four other railroads be-
came heavily involved in nom
rail business. This activity in
cluded:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07
Four Zuyre Stores
To Open in Area

Central Charge Service Of
Washington will provide credit
and accounts receivable service
for four large zayre Depart
ment Stores which are sched-
uled to open soon in this area.
The four area stores, each of
which will have around $4,000
square feet of space, will be To-
Gated at Silver Spring, Whea-
ton, Seven Corners and Alex
andria. They will occupy the
former locations of Towers
stores.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07
American National
Mails Yule SnYinns

American National Bank Of
Maryland has mailed checks
amounting to sos, 500 to l,750
members of its 1868 Christmas
Club, President Warren LaSher
announced.
The amount was about 80
per cent greater than a year
ago, while the number Of club
members was up nearly 38 per
cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07
w. &. Miller Honored

The VIM. E. Miller Furniture
Co. has received the Socrates"
award from the Vincent Ed
wards Co. of Waltham, Mass,
for placing sixth nationally and
first in the Washington metro
politan area for excellence in
newspaper advertising. 1t is
the fifth consecutive year the
company has won the award.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07

s2.245.000 in the same 1862
period.
First quarter sales totaled
$l4,153, 900 VS.. S14.6l1.000 in
the same period last year. Nine
months sales amounted to
$42. 10000 VS.. $50, 483, 900 a
year earlier.
Arrangements efforts to
capture an increased part Of
the missile and space market
has raised the company's back
log Of orders in this market to
40 per cent of total current
business, in contrast to 5 per
cent two years ago.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07
FoirchHd Strotos
Earnings Improve

Earnings Of Fairchild Stratos
Corp. were far behind a year
ago in the first nine months
of this year, but rose above
1862 levels in the third quarter,
Controller w. r. Beckett an
nounced today.
Third quarter earnings Of
$750,000 or Is cents a share
compared with $725,000 or "a
cents a share a year earlier.
Nine months earnings OF
$4,000 remained far behind
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07
Earnings

HallicrafterS Co. in year end
ed August 81 earned 1894, 1000
or IS cents a share VS..
$1,993,O6l or 70 cents in 1862.
Hunt Foods & Ind. in 8
months ended September 80
earned $1.418,000 or 81 cents a
share VS.. $2,591 900 or AZ cents
in 1862 period.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07

Weed err oOt, Inc. in 40
weeks ended October 6 earned
81. 707,984 or $3.43 a share VS..
$1,472,364, or $2.95 in 1862
period.
international Resistance in
% weeks ended October 20
earned 1891, 309 or 95 cents a
share VS.. $2,100,387 or $1.44 in
1862 period.
Other earnings included:
For Months Ended Senter,her m
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07
Equitable Savings Assets
Hit Record S52 Million
BY DONALD B. HADLEY
Star Financial Editor

Record assets Of nearly $50 million reported
S4th annual meeting Of Equitable Savings Asocia
ton here yesterday and Milton R. johnson promoted
executive vice president.
Mr.. johnson, veteran in the savings business
has been with Equitable A previously was vice pres
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-11-07

Frank j. Stryker and Wilson L.
Townsend.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Hospital Cost
Aired

James A. Blaser. director Of
the Districts Department Of
Buildings and Grounds, said ir
testimony released yesterday
that I'VE did not anticipate
several Of the costs involved ir
proposed construction at Dis
trict General Hospital.
1t was because Of this, he
said, that the District found
last year that the $11.8 million
expenditure approved by Con-
greSs was about $3.4 million
short Of what was needed fol-
the construction.
He said that, with the ap-
proval Of House and Senate
District Committees, the Dis
trict proposes to drop its plans
to move he obstetrics depart
ment from its present incon-
venient location in temporary
buildings apart from the main
hospital. This cut, he said
should keep the construction
from costing more than the ap-
proved $11.8 million.
Ironically, it was the waste
and inconvenience of carrying
maternity cases from the tenn
pos to the main hospital build
ings that was cited as a princi-
pal argumen for the core
construction program. The
core" was to unit the hospitals
three major buildings into Q
single unit and expand surgica,
and other crowded facilities.
Mr.. Blaser told the HOUSE
subcommittee that the Health
Department would reluctantly
60 along with the cut-back.
He said his department.
estimate was $3.4 million of
because Of changes in building
codes, a discovery that a large
sewer would have to b
''bridged" by the construction
and similar unanticipateC
costs.
Another item that we die
not consider as fully as WI
should have in the origina
intent was the problem o.
keeping the existing hospita
in operation while we werI
rehabilitating the facility" HI
said.
If and when the COMMITTEES
approve, the District is ex'
pected to ask for bids on thu
core" project and begin it
first phase.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
By LEE FLOR
star Staff Writer

The District Commissioner;
are caught in q dilemma over
the current transportation dis
pute, according to their testi-
mony in House appropriations
hearings released yesterday,
AS members Of President
Kennedy's administration, the
Commissioners said they sup
ported the May rs Presidential
decision to proceed with the
98-mile rail transit system
recommend for the Washing.
ton area, and for more study
and postponement for the free
way system.
But as responsible heads Of
the District Government, the
Commissioners supported the
basic findings and Documents
ton Of their report Of last
April, reviewing the 9S-mile
rail proposal for President
Kennedy.
The April report said the
Commissioners had not re.
ceived enough data to judge
the rail proposal, but freeway
construction program should
be continued meanwhile. The
report urged more study on the
systems.
Money Problems Seen
Also introduced in the hear.
ings was the first congressional
discussion of whether the Dis
trict viii be able to finance it:
freeway program. A cost table
presented at the hearing indi-
Gates future major difficulty
in freeway financing. ,-t
Representative hatcher, Dem,
ocrat Of Kentucky and chair.
man Of the appropriations sub
Nftkefy N -
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
D. c. PLANS PROBE
OF GOLDBRICKING
BY CITY WORKERS

A civilian version Of the
military's inspector general
may soon be swooping down
on Grant employees Of the
District Government.
This, at least, is the plan
being developed by city
officials who have been
jolted by recent disclosures
Of goldbricking and other
misconduct cases.
Commissioner Walter N.
Tobriner told q House
Appropriations subcommit.
tee that city officials:
e.. are working with the
General Accounting Office
toward establishing a kind
Of inspector general for the
District Of Columbia who
would report directly for
the Commissioners on the
efficiency and the operating
procedures of the various
departments"
Congressional approval,
through an appropriations
request will be needed.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Franco Gets Bid
To Visit Morocco

MADRID, Spain, July 6 (AP)
king HaSsan II Of Morocco
today invited Generalissimo
Francisco Franco to visit his
country. The Spanish chief of
state indicated he would be
happy to accept.
If he makes the trip it would
be GeneralisSimo Frances first
return to what is now inde-
pendent Morocco since he left
North Africa July II, 1896, to
lead an insurgent force to VIC
tory over the Spanish Repub-
lican government.
The invitation came at the
end of q four-hour stopover
King Hassan made at the Ma
drid airport en- route to Mo-
rocco from Paris. Generals
silno Franco and the King con-
versed for 80 minutes, had
lunch together with a group Of
top officials, then retired to
the conference room for an
other hour of what was de-
scribed as q most cordial
meeting.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-07
Thieves Take Coins

OTTAWA, July 6 (AP).-
Thieves made a haul of about
10000 early today at the Coin
Center Of Canada. The shop
which claims to be the largest
coin and stamp retail center in
Canada was entered by break
ing through q wall from an
adjoining restaurant. The
thieves smashed a door to get
into the restaurant.