The Baltimore Sun from Baltimore, Maryland • 119

MARITIME THE iHfe SUN FINANCE BALTIMORE, SUNDAY. OCTOBER 15. 1967 i 8cttoa P-PAGB 27 BALTDIORE. SUNDAY. OCTOBER 15.

1967 Section D-PAGE 27 I Boom Aims For Biggest Record TV FACILITIES LOWER PATH FOLLOWED BY MARINE UNIT PLAN SET FOR HOUSE DEBATE New York. Oct 14 ISV-The ceeded, however, when the Com ment spending as well as an In crease in taxes. economic boom has broken a merce Department reported the 80 lot of records during the GNP jumped $15,000,000,000 dur rresiaent Johnson has pro THE MARKET monuis it has been surging ing the third quarter to raise the posed a tax hike in an effort to cool the economy. But Congress across the nation, and it is now aiming to set the biggest record annual rate to $790,100,000,000. It was the biggest advance in six fr- FIRM VICTOR IN U.S.

COURT Lewron Television, Inc. Wins Award From Overmyer Leasing has shelved indefinitely his proposal for a 10 per cent sur oi them all, quarters. War Tax Impasse And The current business exoan White House Is Against The advance exceeded the en charge on personal and corpo slon is driving hard to reach tire Increase of $13,000,000,000 rate income taxes. into November and hit 81 Rise In Interest Rate Blamed The boom is partly the prod during the first six months of Separate Maritime Administration months. If it does it will be the uct of the so-called new eco this year and was the lareest longest economic advance the nomicsthe philosophy that the since the $17,000,000,000 increase nation has ever had, surpassing during the first quarter of 1966.

economy can be regulated bv With Its spirits depressed by tne ciimD, raising or lowering taxes and Spending Cut Asked By iOHN B. ODONNELL, JR. Sun Staff Correapondant Financial observers generally federal spending. The bulk of the sDendine re are agreed the record will be Washington, Oct. 14 Legisla uner interest rates ana the current impasse over a war tax, the stock market stumbled last week into lower ground.

Bank's Analysis Many congressmen, however. set flected in the liNP has been by the Government. Its spending tion which would create an As one put it report getting a lot of mail from nas risen per cent since 1961. independent maritime adminis "The economy slowed mark By THEODORE W. HENDRICKS Lewron Television, a Baltimore firm that supplies television facilities, won a Federal court award of $57,683, growing out of dealings with a firm attempting to start a fourth television network.

Judge Edward S. Northrop handed down the award after tration is scheduled for floor taxpayers opposing any sort of compared with a 46 per cent rise in consumer spending and a 47 edly in late 1966 and early 1967. debate in the House of Repre increase in personal tax rates. Tha closely watched Jones Industrial stock average finished with an over-all loss of 10.57 for the five trading sessions which produced only two per cent increase in business Last winter and sprine." the sentatives Tuesday. The recession some feared did not materialize though, and the spending.

First National City Bank of New! The House Rules Committee threat now seems to be gone. VICE PRESIDENTS AT WFBR Hope II. Barroll 3d. (left) and John A. McVeigh have been named vice president and vice president-general manager, respectively, at radio station WFBR.

Mr. McVeigh succeeds Robert B. Jones, whose retirement becomes effective November 1. Mr. Barroll presently serves as director of advertising, sales and promotion.

Both men are members of the station's board of directors. Some economists, fearful that on September 27 cleared the York notes in its October economic letter, "those who op- gains Monday, up 4.57, and it appears highly unlikely a re the conomy is overheating and measure for consideration by hearing claims arising out of the cession will develop at any time the full House. The committee posea me initial request for a unaay, up4.s. Trade Volume Up try by D. H.

Overmyer Leasing heading for inflationary danger, have called for a cut in govern granted an open rule, meaning this year." Began In 1961 (Continued on Page 29, Col. 2) Inc. to air a late-night the bill is subject to amend-j It was another week of substantial trading volume and the The current boom began In ment, and allowed up to two Inside The Economy extravaganza called "The Las Vegas Show." According to Stanley Cole, the spring of 1961, soon after total shares changing hands hours debate. President Kennedy was inaugu went to 51,220,000. Industry's Educational Aids Edifying For Future Buyers Capitol Hill observers feel vice president and general man The analysts tended to blame that the bill, which the Johnson ager of Lewron, a contract with rated, but it took two tax cuts in the early 1960's to keep it going as well as a suspension the decline on "technical' Administration opposes, has Overmyer was signed in Octo weaknesses in addition to signs good chance of being passed by Congress, Balking On Tax, Threatens Flexible Policy of the 7 per cent Investment of more intiation and the trou IBy tht Aisociated Preaii the House Tuesday.

Wide Support tax credit last year to prevent bled labor situation in the car Fifth graders finger samples spokesman for J. C. Pen it from going too fast. and steel industries. More than 100 bills calling for of limestone, iron ore and coke ney, where school aid programs Some observers expect the ex- the establishment an indepen the raw materials of steel.

have been underway- for 30 By JOSEPH R. SLEVCr DJI's closing low of the week came on Thursday at 913.20 and pansion to keep" racing along dent maritime agency have The, supplier: United States years. ber, 1966, providing that Lewron would supply remote color television facilities. $17,000 A Week Lewron was to get $17,000 a week for thirteen weeks plus the expenses of two experts and money invested in about in color television equipment for the Overmyer firm. Boradcasts of the two-hour through 1968, Washington.

Oct. 14-The Ad Steel. some wall street experts are now worrying about the next One told a recent New York "We're a major company In many communities and feel that been introduced by House mem bers. The Republican Policy Com ministration's vaunted flexible tax policy is threatening to flunk A colorful cartoon wall chart meeting of the National Indus locked over the precise formula that ought to be used. Mr.

Johnson wants to -cut spending $2,000,000,000 and enact a 10 per cent Vietnam surtax support level of 900-910. Speculation Noted trial tonierence Board, a re us iirst Dig test in the classroom spells out the history of measurements. Its this is part of our good citizen ship." Hundreds Of Aids search organization, that he es Congress was willing to cut source: Ford Motor Company. mittee of the House earlier this week issued a statement which decried the decline of the merchant marine and called for timated consumer spending L. O.

Hooper, of W. E. Hutton warns that "there has taxes to spur a sluggish economy on individuals and corporations. Conservative Republicans and The aids number literally in Consumer-buying leaflets are would average $530,000,000,000 in in 1964 but it's been balking at show were finally made in May, distributed In home economics the hundreds film strips, book 1968, compared with an expected raising tnem to check an infla democrats are insisting that the creation of 'an independent lets, charts, sample raw mater class. Their sponsor: J.

C. Pen expenditure this year of tionary boom. Unless a tax boost maritime administration as spending be cut a minimum of $5,000,000,000 as their price for ials, comic- books and movies, ney Company. 000,000,000. clears Congress soon, the infla means toward strengthening the among others.

Spending Up Supplies On Hand supporting a surtax. fleet. tionary horse will be out of the and President Johnson's The sales pitch is muted, if In Baltimore, McCormick 4 Since the current boom began Talk to key business leaders not almost absent. It has to be war tax request will go into the Co. gets so many requests for and top Wall Street financiers in 1961, consumer spending ior durable goods has risen 64 per The Johnson Administration would like to shift the Maritime Administration from the Commerce Department to the De record books as 'iust another samples of its raw materials and the politest word they use Otherwise, the materials wouldn't get through the school- well-intentioned try.

that it keeps on hand boards cent, increased 39 per cent for to aescnoe the Congressional with seeds, beans and pods of A failure to enact a nromot non-durable goods and gone up roadblockers is "irresponsible." house door. "We feel that what the teach 48 per cent for services. tax increase win deal a cripplina it increasingly plain that the partment of Transportation. Last year, the House thwarted an effort to have the maritime several kinds of pepper, mustard, cloves, mace, ginger, nut blow to this country's chances Another told the same meet President Congressional oppon er needs is supplemental materials that enrich and round out her classes rather than more of achieving sustained full em meg and cinnamon. ents may gain a few political agency included In the Trans ing that the total consumer debt would amount to $98,000,000,000 Business considers this good points from their maneuverine.

ployment with relatively stable been too much heedless speculation in the shares of essentially high risk, small glamour com- Eanies and conglomerates people who have been over-stressing price behavior and under-stressing value." According to an advisory from Winslow, Cohu Stetson, the future may provide a sharp, near -term price decline "in some of our favorite issues," or a period of intense, erratic activity. SEC Warns On Dyna Ray The Securities and Exchange Commission has announced that over-the-counter, trading in the common stock of Dyna Ray Corporation will be permitted Monday. But in lifting a trading suspension imposed August 17, the commission cautioned Investors that the company has no product, operating facilities or employees. portation. Department at the time the new department was textbooks," says a National As business and goodwill.

It also out an inflation-hit public will but the attempt to build up a fourth network to compete with the three already established was abandoned. Ollie Treyz, president of Overmyer, finally sold out interests to Oklahoma and Texas investors. In order limit the liability of the Lewron contract, a rider was added that cost $60,000, the judge noted. Lewron, which had made an assignment of the contract to United Network of New York, claimed that it was due $221,000 as a result, of the original contract but only received about half of the amount. In ending the dispute, Judge Northrop handed down a long opinion in which he granted a motion of summary judgment to Lewron and said he would sign an order giving them $51,000 for three-weeks' rent plus $6,683 for expert's expenses.

by the end of this year, cross the $100,000,000,000 mark late in sociation of Manufacturers A flexible tax policy had and subtly gets a firm name be De tne very big loser. spokesman. created. "A Lot Of Pressure" 1968 and probably reach still has the promise of being ironically, some of the original fore budding customers. "Business can supply this 000,000,000 by the end of that "We don't measure sales one or me snmmg accomplish conservative opponents of a flex Capitol Hill sources said today year.

ments of modern economics. It against the program," says a ible tax policy are proving excellent prophets, but for the that the Administration has con And a consensus forecast without pushing a product." 500 Million A Year One educational consultant es tinued to apply "a lot of pres made at a recent meeting of the is the tool that the Government can use to break the devastating boom-bust cycles that have wrong reason. sure" in an effort to have the National Association of Busi legislation defeated. A Funny Thing They objected to the orece timates business spends about $500,000,000 annually on mater Sun Life Moves Into Oklahoma plagued mankind throughout his ness Economists foresaw a gross While the chances for House national product of tory, If we now are hit. by yet dent-setting 1964 tax cut partly ials for school programs.

000 for 1968, an increase of passage of the- bill are considered good, maritime industry on tne ground that no Adminis Many of the programs have anomer runaway Doom, we can be only too sure that it will be ,000,000 over this year's esti tration would be willing to go been around for some time. observers feel that there is Stanford Z. Rothschild, mated $783,000,000,000. followed by yet one more crash. tne otner way and boost taxes Uniroyal has published for virtually no possibility of obtain president of the Sun Life Insur The 1967 estimate was ex- 'Ite great pity is that there if steeper, anti-inflationary lev more than two decades a book- ing Senate passage of the mea now Is general agreement that anee Company of America, has announced the licensing of the sure.

ies were to become necessary. But a funny thing happened on let on rubber, geared to the elementary science classes. It Even If the bill gets through IMMEDIATE OCCUPANCY tne way to the testing ground. Baltimore-based firm to do business in Oklahoma. also sells, for 30 cents, a teach action is needed to prevent a huge Federal deficit and runaway inflation, but Congress and the President have been dead both houses of Congress, President Johnson is expected to Norris Is Named To Railroad Post THE LWESTMEiYT BUM! The Administration is pleading er's kit containing samples of Mr.

Rothschild, himself a (Continued on Page 29, Col. 5) veto it. various types of rubber. Another long-standing educa chartered life underwriter, said the addition of Oklahoma brings the company's total licensed ter tional aid program has been John T. Norris, has been conducted by the American As ritories to 28 states and the Dis trict of Columbia.

sociation of Railroads. Its direc; tor, Dr. Thomas J. Sinclair, says the association distributed named manager market development of the Western Maryland Railway Company's Baltimore office, C. C.

Bruck, assistant vice president-marketing, has announced. Bundle-up your home for winter by installing BURCH storm windows and doors NOW! more than 23,000,000 pieces of 7 -y literature last year. -Kit i v1 I Si ,1 yJ lis 1 jr trr 1 Va 4 "You just can't sweep the inquiries under the rug without Mr. Norris, 45, joined Maryland as regional mana- alienating two important groups ager sales of the Baltimore office in July, 1963. teachers and kids," he says.

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