davidaulloa/AmericanStories huggingface dataset:
Evening star., 1963-04-25
Machine Tool Orders
Biggest Since 1857
BY the Associated Press

Net new orders for metal
cutting type machine tools for
March amounted to an esti-
mated $60.3 million, the Ma
tional Machine Tool Builders
Association reported today.
This compared with S53.35
million in February and was the
biggest single month since
January 1857, when orders to-
tailed $685. million.
Shipments during Marc h
were listed by the association
at $49.75 million compared to
$43.05 million In February. The
industry's backlog Of orders in
March stood at an estimated
40 months. compared with 4.6
in February.
The association listed net
new orders for metal forming
type machine tools during
March at an estimated $l3.05
million, compared with $l9.2
million in February. Shipments
totaled $16.6 million in March,
as against $l4.05 million in
February.
Evening star., 1963-04-25

1t was 100 years ago this
June that the first United
States paper dollar which hao
the backing of the Fedora,
Government was issued, 1t was
not until June 20, 1853, that
this great Nation had a ma
tional paper currency, uniform
in design, printed by the Fed
eral Government and secured
by the credit Of the United
States Treasury.
So much do we take our cur.
rency for granted today-s
dollar is dollar is a dollar anc
will be accepted anywhere foi
the purchase of goods-that 6
review Of the chaos in our cur.
rency system a century age
stuns even the money experts
Yet chaotic is the only accu.
rate word to describe Cur cur.
rency system before passage Of
the National Currency Act. anc
during this centennial celebra-
tion a contrast between ther
and now is fabulous and fas-
cinating.
Here is how it was before
Secretary Of the Treasury Sal
mon P. Chase (the man whose
face is on today's $4,000 bill
proposed and pushed through
the historic currency legislation
of 1868;
The Government supplied
gold and silver money. Many OF
the $500 State chartered banks
Simply printed their own
money, and many of them were
little more than money fac
tories" Some of the least
scrupulous bankers" operated
their entire business out of a
tin box or saddle bag.
On this day 100 years ago
there were about 10000 varie-
ties of paper money-of wildly
different designs and widely
different sizes-in circulation
in this country! Almost as
great as the variety of the
Evening star., 1963-04-25
STUDEBAKER POSTS
S6.4 MILLION LOSS

SOUTH BEND. Ind. (AP).- -
Studebaker Corp. today re-
ported a loss of $6.4 million
for the first quarter Of 1868.
This compared with a loss oi
$2.6 million a year ago.
Sales increased $26 million
over the comparable period OF
l962-from $72.6 million tc
$99.9 million.
The loss was almost identical
with that reported in the first
quarter of 1861. Studebakel
has not had a profitable first
quarter since 1860 when il
made $2.8 million on sales OF
$90.9 million.
Evening star., 1963-04-25
'PINHOOKERS' BIDDING
Used-Auto Auctions
Begin Busy Season

Sales are strictly between
buyer and seller. The auction
company gets Its commission
by a $40 fee from the seller
and another $40 fee from the
buyer If the car is less than
four years old. II not, the fee
is only IS.
Mr.. Kuehl said the average
weekly dollar volume of sales
is $4,000 and last year the
turnover reached Sc million
Even so, this was small COM
pared to the auction market
at Mannheim. Pa, largest in
the country, which is said to
have a weekly volume of more
than 81 million.
The dealers who visit Fred
erickSburg come from as far
south as Florida. as far north
as Delaware and as far west
as Ohio. North and South Car
olina tags are much in evidence
because, Mr.. Kuehl explained
dealers there want older cars
while those from Washington
seek newer models.
AuctiOneers Pros
The auctioneers are profes.
sionals who come to Fred
ericksburg each week from
Lancaster, Pa.
There is no restriction or
what they can sell. I'VE take
anything that rolls" Mr.. Brown
said. Occasionally boats sal
through, on trailers, Of course
"A month ago we sold a 1893;
Ford roadster that had beer
restored" he added. 1T brought
$l,4l0, twice its original cost
mot so long ago, we also
sold a horse trailer and two
ponies for $l,600."
Even in used car circles
that's horse trading.
Evening star., 1963-04-25
D. c. Credit Unions
Set New Records

District of Columbia Credit
Unions had record assets of
$128,927,717 at the end of 1862,
compared with $113.829,145 a
year earlier. President w. j,
Hagan stated in the annual
report.
Shares totaled $114,064,3 ,374
at the end of 1862 VS.. $97,8l2,-
SIS a year earlier. Loans aggre-
gated s105 million VS.. $93.S
million a year earlier.
The unions had 200, ,l29
members at the close of the
latest year VS.. 262,528 a year
earlier. 192.550 five years ear
lier and ll3,736 at the end of
1850.
Evening star., 1963-04-25
ChHds Named Head
OF ASH CHAPTER

Ralph S. Childs of Home
Federal Savings g. Loan Asso-
citation was elected president of
Washington Chapter, American
Savings and Loan Institute at
the 30th annual meeting at the
Oakcrest Country Club yester-
day.
Mr.. Childs will succeed
Charles C. Elderkin of Perpe-
Evening star., 1963-04-25

tual as head of this educa-
tional organization of the saw
ings and loan industry on July
/. The chapter is affiliated
with the District Savings and
Loan League.
Other new officers: James L.
Harris, Washington Permanent
Savings, first vice president;
Frederick S. Genau, Equitable
Savings, second vice president;
Margaret O'Brien, Interstate
Building, secretary, and c. G,
Harrell, jr., Columbia Federal
Savings trea
Evening star., 1963-04-25
Socony MobiI Record

NEW YORK tAP)-Socony
Mobil Oil Co. earned an esti-
mated $68.4 million, or $l40 a
share. in the three months
ended march 81 70 set a record
for any quarter in the firm 5
history. President Herbert Will
let's said the earnings COM
pared with $59.5 million or
$l22 a share in the same pc
riod a year ago.
Evening star., 1963-04-25
Peoples Drug Votes
Quarterly Dividend

Directors of Peoples Drug
Stores. Inc, today declared the
usual quarterly dividend Of SO
cents a share, Treasurer H. j,
Althouse announced. The divi-
dend will be paid June 81 to
stockholders of record at the
clnse on June
Evening star., 1963-04-25
AVEMCO to Purchase
Texas Company

Aviation Employees Corp. and
Avemco Finance Corp. OF Sill
yer Spring, Md, have offered
more than 81 million for the
stock OF Aircraft Investment
Corp. OF Fort Worth, Tex. air.
craft financing firm, II was an
nounced today.
President s. ]. Solomon OF
the affiliated Maryland firms
said rs per cent OF the Texas
company's stock is owned by q
small group which has indi-
Gated approval OF the offer.
Acquisition OF the Texas firm
will make Aviation Employees
Corp, the worlds largest or.
ganization devoted exclusively
TO financing Of aircraft for cor
Evening star., 1963-04-25
Fairchi|d Stratos Plans Big Center
BY DONALD b. HADLEY
Star Financial Editor

Fairchild Stratos Corp. is planning mumion-dollar
technical in a campus-lke setting the Atomic
Energy Commission complex at Germantown, Nd it was
learned last night
The company has option 65-acre tract just off
Interstate Route 7O-S will construct buildings pro-
Evening star., 1963-04-25
BY CHARLES COVELL
Star Staff Writer

The familiar chant of What
am / bid, what am l bid?" is
heard at Fredericksburg these
days but the finale may be
sold Chevrolet" instead of
"Sold American" That's be-
cause the busy season for the
used car auctioneer starts in
April just as it does for the to-
bacco auctioneer.
Fredericksburg has the only
used car auction mart in the
Washington area. Others in
Virginia are at Windsor and
Danville while the only one in
Maryland is at Bel Air.
The Frederic k sburg Auto
Auction, Inc. is operated by
two partners, Howard w. Kuehl
and William B. Billy Brown,
To it come new and used car
dealers and wholesalers or pin
hookers," a term borrowed
from the tobacco industry. The
public may not participate nor
are onlookers invited.
Dealers come to get rid OF
models that have remained on
their lots more than 80 days
and to buy new stock. New car
dealers may sell or buy used
cars to diversity their inventory
Wholesalers buy from new cal
dealers who don't have time to
go to auctions, spruce up the
car, then sell it.
Tough Business"
That's a tough business.
said Mr.. Brown. who used to be
a "pinhooker" himself. Whole
salerS are lucky to make $50 per
car"
Used car auctioneers don't use
the traditional hammer. They
employ a short length of radia-
tor hose. With it they can tap q
reluctant bidder on the shoul-
der, as well as pound home a
point.
Even among the cagiest used
car dealers, there are a few
who can size up the condition
of a car better than the rest
Like tobacco buyers, they like
secrecy in their bids.
A lifted eyebrow, a scratch
of an ear signal a bid. "One
dealer" Mr.. Brown said. turns
his back to the auctioneer with
his hands behind him. When
he wants to bid, he twitches a
finger"
Comparatively New
Used car auctions, Mr.. Kuehl
said, are comparatively new on
the American scene. TIL hey
didn't get we'll started until
after World War II but are
spreading rapidly.
A former regional manager
for a finance company he and
Mr.. Brown formed their part
nership six years ago. Both
from Richmond, they chose
Fredericksburg because of the
heavy population within a 150-
mile radius.
They started by leasing a
surplus National Guard ar
mory. then converting 1t. Auc-
tions start at IL am. each
Wednesday and cars roll into
the big parking area as early
as Q am. Tuesdays. Each Is
assigned to a numbered space
and when the auction starts
they are sold in sequence.
There are two lanes inside
the armory, each with an en-
trance door on one side and an
exit on the other. Each also
has bleacher seats for the buy
ers and an auctioneer's stand
Back Of the stand is a lighted
panel, with the words Sound.
Defect" LAS Is" and INC
Title"
AS attendants roll each car
TO a stop, the dealer stands
next to the auctioneer and ex-
plains TO him the condition OF
the car. The auctioneer then
lights the appropriate panel
Should more than s25 In re-
pairs be necessary TO meet the
condition described, the buyer
may get his money back.
Evening star., 1963-04-25
Sturdy Lawn Seed

Takes the toughest treatment
and goes right on growing.
Thrives in sun or shade, in rich
soil or poor subsoil - even in
traffic" areas or on slopes.
Fast-sprouting nurse" grasses
protect slower-starting peren-
nial grasses from trampling and
wash-outs during storms. For
any spreader or seeder.
Evening star., 1963-04-25
Shady Lawn Seed

Perfect for places in consid-
cradle shade. This dependable
blend of shade-tolerant seeds
is scientifically balanced with
selected sun-loving seeds for
smooth, even growth. Provides
you with dark green, perennial
grasses-resistant to dry condi-
tions and rugged wear. Sow
with any spreader or seeder.
Evening star., 1963-04-25
Sunny Lawn Seed

Carefully selected seeds-cho-
sen for vigorous, lush growth
in full orpartial sunlight. This
quality mixture gives you a
dense beautiful turf (even in
shade, because shade-tolerant
seeds are included) for excel
lent protection against weeds.
Easy to spread. Requires a
minimum of care.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-30

position Of the Soviet Union
which has been campaigning
for nuclear free zones In Cen.
trail Europe and the Mediter-
ranean.
Mr.. STEELE said there should
be strict conditions for setting
up nuclesr free zones in any
area. he said. and arrange
ments should be set up for
adequate inspection and Yeri-
fication.
The United States and Rus.
STA got together on another
phase Of the arms issue.
Underground Blasts
Informants said the two bis
powers agreed on a revised res
olution on underground nu-
clear testing which would re.
fer to a ban on such blast,
without actually naming it. i
cites the limited nuclear tes'
ban and calls on the Genevl
work toward further agreement
The new draft, to be spon.
sored by the II active member
Of the Geneva Committee, wa
put in as a substitute for I
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-30

President viii drive to Rotter-
dam and address q dinner
given BY the Netherlands
American Institute.
The Vice President viii re-
turn to The Hague the next day
and the Johnsons will dine with
Queen Julianna and Prince
Bernhard the same evening.
On November Z. the Vice
President viii open the United
States food and agricultural ex-
hibition in Amsterdam.
The same afternoon. he is
scheduled to fly to Brussels for
two days Of talks with Belgian
government leaders and with
high officials Of the Common
Market and the European
Atomic Energy Community.
On November 8, the Vice
President will speak at a din
ner given by the Belgo- Ameri-
can Association.
The Johnsons will be the
luncheon guests Of the King
and Queen Of Belgium the next
day.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-30
u. n. Due to Approve
NucIeor Free Zones

some areas could be useful to
halt the spread Of nuclear
weapons.
Mr.. STEELE made clear. how
ever, that the United States
ruled out Europe. Asia and the
Pacific as regions for outlaw
ing nuclear weapons.
Sees Balance Upset
Mr.. STEELE argued that Il
such zones were created ir
these areas, the military bal
ance would be upset. Instead
he said. it would be preferable
to seek broader approaches II
arms control" in such regions
Mr.. Stelle's declaration ap-
peared to leave only Africa and
Latin America as areas &C.
ceptable TO the United State
for denuelearized zones.
This runs counter to thu
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-30

watered-down proposal which
caused 8 split among the eight
nonaligned members who had
originally authored the resolu-
ton.
The new draft was said 70
be strong enough to satisfy ma
tons who had baked at sup
porting a resolution which did
not even mention underground
testing.
The dispute arose after the
United States and Russia at.
tempted to sidestep the dead.
locked issue OF on-site inspec-
ton altogether. The United
States insists on such vertical
ton in any underground test
ban. The Soviet Union has
made plain it will not accept
any on-site inspection.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-30
Pearson Beats
20uster Votes

OTTAWA. Oct. 30 CAP). -
Prime Minister Lester B. Pear
sons Liberal government has
easily survived the two latest
attempts 70 GUST It over de-
Tense policies. including storage
Of United Statse nuclear war
heads in Canada.
BY a 210-27 vote last night,
the House Of Commons de-
feated a no-confidence motion
by Real Caouette. Creditiste
leader, attacking the govern
ment for storing United States
nuclear warheads in Quebec.
Although they criticized the
government for the agreement
with the United States, former
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-30

UNITED NATIONS. N. Y
Oct. 80 CAP).-A United States
declaration favoring nuclear
free zones n some areas was
expected to win United Ma
tons acclaim today, but the
Russians we're sure to chal-
lenge American refusal to ban
the bomb from Europe, Asia
and the Pacific.
Delegates predicted that
Soviet Ambassador Nikolai T.
Federenko would take issue in
the General Assembly's main
political committee with this
position outlined yesterday by
Charles c. STEELE, United States
disarmament negotistor.
Mr.. Steele told the 111-na-
ton committee. as the disarm-
ament debate sopened. that Gre
alton Of nuclear-free zones in
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-30
Benelux Trip
By Johnsons
Soon to Sturt
b the Associated Press

Vice President and Mrs. john
son leave Sunday night to visit
the three Benelux countries.
Arriving in Luxembourg Mon
day, Mr.. johnson viii hold dis.
cussions with government lead
ers and will meet with top Of
ficials Of the European coal
and steel community.
At noon, the Johnsons will
be the luncheon guests Of
Grand Duchess Charlotte and
Prince Felix. Prime Minister
Pierre Werner will hold q din
ner for the visitors that night
On Tuesday, the Johnsons
viii fly to The Hague. After q
conference with NetherlandI
government leaders, the VICE
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-30

Prime Minister Diefenbaker's
Conservatives supported II on
the vote. A Conservative spokes-
man objected because the mo-
ton did not condemn nuclear
weapons anywhere in Canada.
The Conservatives own no.
confidence motion was rejected,
1855. II accused the Liberals
Of massive confusion in the de-
tense program, including can
collation. Of a s452-million
frigste-building program. This
time the IS Creditistes voted
with the government. &
The Liberals now have SUR
vived nine censure votes since
Parliament convened May Is.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-30
Human Bruin 'FIouts'

The human brain, which
weighs about three pounds. Is
fluid-p a cke d but not secured
within the skull.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-30
Border Is 1.400 Miles

TEHRAN. - Iran has the
non-CommUnist worlds longs
est border with the Soviet
Union-more than i.400 miles.
Evening star., 1963-05-01
Cities Service
Hopeful on PIun

NEW YORK CDD.-Burl s.
Watson, chairman of Cities
Service Co. indicated at the an
nual meeting in Wilmington,
Del, he was optimistic about
prospects for early consuma-
ton of the company's plan to
acquire Tennessee Corp.
Mr.. Watson said, After sew
eral meetings with Department
of Justice representatives, 1t
appears that questions raised
by the Government concerning
the acquisition may be resolved
on a mutually satisfactory ba-
sis"
The acquisition was TO have
been completed April 2 and was
first postponed to May /. The
closing date has been scheduled
tentatively for June 4, Mr..
Watson said.
The Cities Service official
said the company earned $l9,-
oil. 900 or $1.05 a share in the
first quarter, up from $l6,-
0l2, 1000 or $l.37 a share in the
1862 period.
The increase in net. Mr..
Watson said, reflected gains
in most phases of Cities SeTv-
ice operations. together with
a slight improvement in prod
uct prices.
Evening star., 1963-05-01
METALS

NEW YORK tAP).-spot nonferrous
q pound, Connecticut Valley. Lead
l0h cents a pound. New York. Zinc
l1A cents a pound. East ST. Louis. Tin
.15h a pound. New York. Foreign
silver. 1.21O per Troy ounce, New
York. In Pittsburgh Scrap Steel No. !
heavy was quoted today by Iron Age
at 29.0O-3O.OO.
Evening star., 1963-05-01
Won't you come in?

Many people who never bought any stock won't even
walk into brokers' Office.
WhyP
Well, we think one of the biggest stumbling blocks
is the misconcepton that investing is only for rich
people"
But you'd just drop in at any Merrill Lynch Office,
you'd begin to realize that the people who do business
with us aren't all wealthy-not by long shot,
Some Of them are, of course.
But most of them are the kind of people you meet
every day. People with children to educate or worries
about retirement or high hopes for better standard of
living and more financial security over the years ahead
Most of them in fact have incomes of less than 81 500
ayear-whch certainly seems to prove that you don't
have to be wealthy to start investing.
If you have any extra" money-that is, money left
after providing for household expenses insurance,
and emergencesyou should consider your own invest
ment program start providing for your own financial
future.
At Merrill Lynch, any account executive will be
happy to tell you how to take the first step in that
direction.
So-wont you come inp
Evening star., 1963-05-01
Stock Prices e
Climb Higher,
Trading.Acfive

NEW YORK (AP5-1ndus.
trials led the way to. a con.
tinued stock market recovery
early this afternoon in active
trading. '&"''
Steels, motors, chemicals
airlines and nonferrous metals
were generally higher.
Gains of key stocks were
mainly fractional, some stretch
ing to a point or so.
The list was continuing Its
recovery Of yesterday which
followed two sessions of irregu-
lar decline.
The rise was accompanied by
reports that the recent increase
in steel prices have led tc
higher prices In many related
products and that new orders
received by manufacturers ir
March rose to a record.
The market was up from the
start. The general advance
was moderate, with soft spots
scattered here and there.
Wall Street sentiment was
further enlivened by some
raised dividends. including
those Of Federal Mogul-B Bower
Bearings and General Foods.
Chrysler resumed its pace
making role among the auto
stocks.
The leading stcelmakers, now
that the depressing compare
sons of latest quarterly earn
ings with those of a year ago,
are mostly out of the way, ad-
vanced moderately.
Prices advanced in moderate
trading on the American Stock
Exchange.
Corporate Snd United States
Government bonds we're firm
in light trading.
Evening star., 1963-05-01
CHICAGO GRAIN

CHICAGO. (AP). - Prices trsnded
slightly toward flrmnes stoday IN the
grain futures market after an early
demand on resting orders.
Corn and soybeans advanced major
fractions In spots and May rye more
than cent. Other gains we're In the
small fractional range.
Brokers said the support for eorn
included GOOD export demand,
probably toward covering sales OF n
million bushels overseas, Dealers said
tlaekened Government selling also
Wheat was "a cent A buHhei lower
70 p higher at noon, May S2.l2hi
= higher 70 lower, MAY d6i. cents
rye.h higher 70 y lower MAY
s'ssss' soybeAns h-h higher MAY
Evening star., 1963-05-01
Finance Editor Named
By New York Times

NEW YORK (AP).-Thomas
E. Mullaney has been named
financial and business news
editor Of the New York Times
effective August /, Managing
Editor Turner Catledge has an
nounced.
Evening star., 1963-05-01
COTTON

we're irregular during the forenoon.
Commission houses were on both sides
OF the market. The market action
reflected conflicting views among
traders on prospects Of cotton legis-
lation. Noon prices we're 10 cents a
bale lower to 81 higher than the
previous close May, 3f.02 bid: July,
1890 bid, and October, 32.33.
Evening star., 1963-05-01

Sales HGures are UNOFFICIAL.
Unless Otherwise noted. rates Of divi
dends In the foregoing table are annual
disbursements based on the last quarterly
or semi-annual declaration. Special OF
extra dividends or payments not desig
mated as regular are identified In thu
following footnotes.
Z-Sales In full.
cid Called. xd-Ex divideAd. x-L.a-
Ex distribution. xr- Ex rights. XIV With
When distributed. wi When issued. nd =
Next day delivery.
Evening star., 1963-05-01
D. c. SECURITIES

Bid and asked prices on stocks listed
on the Philadelphia -Baltimore-Wash-
Evening star., 1963-05-01
ODD-LOT TRADING

NEW YORK (AP).-The New York
Stock Exchange reported today these
odd lot transactions by principal deal
ers for April 80: Purchases Of 3O5. .837
shares: Sales Of 1914, ,46S shares in
cludinE 1870 shares sold short.
Evening star., 1963-05-01
Furnished by the Associated Press
List inrlndes Most Active Stocks

being reoraaniEed under the Bankruptcy
Act, or securities assumed by such com
panles. xl ; Ex interest Ct Certificates
bonds, neeotlablllty impaired by maturity
Evening star., 1963-05-01

WdWu q uothTOp pI Sb
Quotations for l00-Share lots. s'For
.5-share lots. Others 10-share lots.
Ex-dividend. Plus extra or extras.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-10-02
Timing Criticized
In Announcing
Aged Health Plan

The announcement of a new
health-care insurance for the
aged here last week was pur-
posely made just before the
House Ways and Means Com
mittee takes up the Admin
istration's plan to provide hos
pital benefits through Social
Security, the executive director
of the National Council of SEN
Tor Citizens, charged yesterday.
DR.. Blue Christensen, speak
ing at the All Souls Unitarian
Church here said the announce
ment will .backfire. He said the
new Blue CroSs-Blue Shield in
surance plan is too expensive
II per person per month-for
many TO afford.
Thus, he reasoned, the new
non-profit program here will
stimulate congressional action.
The Blue Cross-Blue Shield
agencies also have a less broad
disqualification and surgery pro-
gram for retired persons cost
ing 1882 per person per month,
he said.