Montgomery County sentinel. [volume], January 10, 1963, ANNUAL REPORT OF THE CITY 1961-62, Page B6, Image 28

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Thursday, January 10. 196) SENTINEL E MD.
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New? Members Welcomed
The 654th and 655th members of the Bethesda-Chevy
Chase Chamber of Commerce are welcomed by Chamber offi
cials. From left, Jack Wamsley, general manager of the new
Governor’s House Motor Hotel, 8400 Wisconsin Ave., Mrs.
Ann Novel of Novel’s Hair Stylists, 7030 Wisconsin Ave.,
dames A. Barr, executive director of the Chamber, and Bich
ard R. Price, dr., president during 1962.
• Business Leaders Hopeful
(Continued from Page Bl)
Bank, First National Bank of
Maryland and Suburban Trust
Co. began operations in the
city in 1962.
The Super Giant Discount
Store began pumping new econ
omic life into the community
and expected during 1963 is
Korvette, big discount store
that will also be located on the
Rockville Pike.
The Industrial health of the
city is good and is undoubtedly
destined to become even more
vigorous this year. Retail busi
ness in the city’s central area
was floundering as the ur
ban renewal plans were being
pushed. But business firms on
the rim of the city were doing
well.
The Chamber of Commerce
will continue to serve the com
munity's interests during the
coming year, Hemmer said.
Wilbur Baughman, president
of the Montgomery County
Chamber of Commerce, says
that 1962 was a good year and
expects 1963 to be even better,
partly because of the November
elections.
"Republicans and Democrats
are both on the county council
and the school board, and this
Is s good thing,” he adds. “Both
(council and school board) arc
somewhat more conservative
than their predecessors and this
Should be good for business.”
The Chamber of Commerce
has progressed very well dur
ing the past year with several
activities aimed at educating
and assisting the business com
munity, Baughman concluded.
Charlotte Mart*, newly-elected
president of the Wheaton Cham
ber of Commerce, states that
the new shopping plaza complex
has helped business in the rest
of the Wheaton business area.
It has drawn people from miles
away who otherwise would have
gone to the District to do their
shopping.
‘The large chain stores are
cooperating with the local mer
chants to make Wheaton a pros
PIONEER IN INFORMATION TECHNOLOGY
A New Landmark
Rises in Montgomery County
\\ to make use of scientific and industrial
information in their day-to-day operations.
IM Today, the company is involved, among other
rliJUn work > “ operating information programs of major
Kf'Orw lUMIriH significance to the country-with the National Aero
la lUEJn nautics and Space Administration on the space pro
immmtWim \ — and with the National Institutes of Health
mmil if Ifill II |P®| $ -As a corporate neighbor in Montgomery County,
BnKJMNyLUrllliai riiSSSrj*? Documentation Incorporated has rapidly become an
UrVllllrflrJOLllLlrJra F Tfri [. integral part of the area and most of its scientific
P " ~pto\ Hi" prof<^ ssloaal supporting staff live, work, play and
r rirtTi vital Doc Inc participation as its one and
Li j~r • f one-half million dollar annual payroll and various
'vfVMMQNR taxes have a direct bearing on the County’s ability
f° provide proper services and continue its accelerat-
In March of this year. Documentation Incorporated contributionnMiabM I l2 , Mn^^ r to attencU fund
Sjj duE ncw u l ' 4 mil ' drive dinner nd learn about the Montgomery
lion, eight-story headquarters building... the tallest County Arts Center * ™
commercial building in the Maryland suburb and a Our new landmark in Betbesda also gives in
new landmark m Montgomery County. creased support to the dtizeiuWd gowrEt of
“ \*u C L° f s, B®! ficant expansion Montgomery County because it means greater em
steps by Doc Inc which began 12 years ago in a ployment opportunities for scientists, engineers and
three-room downtown Washington office. others who wish to grow withus! 8
Yet the basic corporate purpose of Doc Inc has We’d like to have you know more about us
always remamed the same-that of providing govern- and to let us tell you about Documentation Incomes
ment and industry with better, faster and more accu- rated-A New Landmark in Montgomery County*^
Documentation Incorporated •
perous commercial center.”
She hopes that the adminis
tration will be successful in its
plans for a tax cut. “There is a
lot of money in the county, and
a tax cut would encourage the
people to spend more of it.”
Gregg Evemgam, president
of the Silver Spring Board of
Trade, states that local business
is good and no one is complain
ing. The opening of the Whea
ton Plaza made an initial dent
in Silver Spring sales, but the
situation is now back to normal.
The Board of Trade is taking
the lead in moving the area for
ward. An elaborate brochure is
being prepared telling the mes
sage and background of Silver
Spring, and the current parking
survey will determine the needs
of shoppers for the future.
Evemgam points with pride
to the fact that the board now
has a full-time executive secre
tary, and that the board-spon
sored Thanksgiving parade and
science Industry fair were both
a success.
He says that, contrary to
what many may feel, the estab
lishment of the Hecht Co. and
other large department stores
in the area have helped the lo
cal merchants because of their
drawing power. Downtown Sil
ver Spring will eventually be
come an office and professional
center, he adds. Already office
rentals are as high as those in
downtown Washington.
Frank Hewitt, Jr., president
of the Montgomery County
Bankers Association, announced
that banking did better here
than the national average. The
population growth was the big
gest single factor.
'This year will be as good, if
not better than 1962, because of
the expanding governmental in
stallations and new office build
ings,” Hewitt states.
Carl JK. Sturges, president of
the Montgomery County Board
of Realtors, gives the same pre
diction. Mortgage money is still
in good supply and competition
will be keener than ever.
The greatest achievement for
Market Confidence
Indicated in ’63
By Sidney Klein
Director of Rwtrrh. Dreyfus t Co.
This is the time of the year for economists and market
analysts, etc., to make their annual predictions. A year ago
the majority of the economists and market analysts were In
agreement In predicting a boom year for the economy as well
as the stock market. Six months later no boom appeared in
the economy or the stock market. In fact, the market col
lapsed and the economy remained relatively unchanged.
At mld-1962, their predictions changed to gloom. They
were predicting a bear market and a recession. Neither ap
peared again. The market rallied sharply, In fact, we had one
of the sharpest rallies In the history of the stock market and
the economy continued on a high plateau.
For 1963 the majority of the economists have once again
changed their thinking. They now have a third prediction
one of more or less neutrality.
Some of them are predicting a slight down-drift In the
first half, followed by a mild recovery In the second half, and
some are anticipating an Increase In the first half, followed
by a slight decrease in the second half.
In summary, they have no strong predictions for the year.
By ud large they expect a side-wise movement In the econo
my and the stock market.
It appears to me that once again their predictions will
be wrong. I do not believe the economy will spend another
year of unchanged activity, nor do I think the stock market
will remain in a narrow trading range as most analysts
anticipate. Based on the long term trend of our nation’s
economy, it appears more likely for the change to be on the
up-side.
Consequently, I see a good year, generally, for the stock
market. However, we must bear in mind that a good deal of
damage was done in the May-June break and again In the
October break (the Castro crisis).
Fortunes were lost; a great deal of confidence shattered.
The market’s healing process Is a slow one. It takes a great
deal of time to restore full confidence. Reactions will occur.
Some will be minor and some will be sharp. When the rallies
ensue, not all groups will participate.
Once again we should have a selective year in the stock
market although the basic trend should be upward.
There are many areas of unknown factors, such as, the
tax cut situation, the International situation, and the gold
situation.
Barring unforeseen events, the group which is most likely
to succeed in 1968, is the utility group. The tax cut will benefit
this group particularly, as well as other groups in which the
dividends are relatively secure, such as the tobacco group.
There should be Individual strength In selected growth equi
ties, such as, Polaroid.
Although most Investors today have an attitude of un
certainty and caution, one of confidence is warranted.
the local realtors in many years
occurred in 1962 with the Instal
lation of the new automated
multiple listing system, which
allows the salesman and cus
tomers to see at a glance al
most every house for sale In
the county.
Every week the long list
it takes about an hour to read
through it is distributed to
the member brokers. Houses are
listed in order of price, and in
addition the number of floors,
bedrooms, baths and other in
formation concerning the prop
erty. The customer can quickly
see what is available in his
price range.
Bturges says that Montgom
ery County Is more stable than
most areas around the country.
Although land prices have sky
rocketed during the past few
years, lands with sewer and
water facilities are more scarce
than before. There are many
areas where the builders have
been delayed in their plans be
cause the utilities have to catch
up with the rapidly developing
communities.
Lenders seek to finance
homes here in the county while
they are more. cautious else
where. Because of the great fed
eral payroll, this area is almost
‘irecesston-proof.” Sales are
aimed more at second and third
time home owners.
The challenge to the builders
Is to present a better designed
home and community, since
most of the buyers have already
owned one or two homes, and
are more particular about what
they want.
Montgomery County’s busi
ness picture for 1968 looks to
be slightly better than 1962. The
rate of progress, however, is in
the hands of agendas which are
not controlled by the county.
Factors such as the proposed
tax out, rapid transit and the
expansion of government facili
ties even the international
peace climate all have an ef
fect on directing the local econ
omy.
The value of the business
community to the county can
not be over-stressed. Some resi
dents look down upon the local
merchants with indifference.
But when tax time rolls around,
it is evident that the role local
business plays is crudal in sup
porting county services.
The taxes on residential prop
erties cannot possibly carry the
entire burden of the school sys
tem and other vital programs.
When the residents support
their local merchants, they In
directly support the entire coun
ty, including the schools.
These are the sentiments of
the county’s business leaders,
most of whom were encouraged
by prosperous 1962, and have
high hopes tor an even greater
1963.
‘Humanistics’
Opens New
Outlet Here
A new public relations firm,
“geared to employ selective
means to do a job for selective
clientele,” has been opened in
Glen Echo by Morris Allen, a
former government editor and
free-lance writer.
Identified as “Humanistics,”
the company will be operated
from quarters at 6003 Benalder
Drive in the Glen Echo Shop
ping Center, opposite the Glen
Echo amusement park. A major
element of its operational pol
icy, Allen said, is based on "the
need to promote an ideological
counterpart to match the dyna
mism of world wide Communist
propaganda.”
Asserting that “a major goal
will be to blend the higher
human aspirations with the in
centive of capitalist enterprise,”
Allen continued: "Besides the
normal profit motive, Human
istics seeks to contribute toward
raising the level of popular
taste and culture, rather than
manipulate easier, more readily
marketable motivations.”
Operations of Humanistics,
according to Allen, already ex
tend from Washington to San
tiago, Chile, through Rio de
Janeiro and Montevideo.
Clayton Joins
Buchanan Firm
Stephen G. Clayton, director
of advertising and accounting
for the Home Builders Associa
tion of Metropolitan Washing
ton, Inc., for the past four!
years, has resigned the post to j
join the financial staff of W.
Evans Buchanan, new president
of the National Association of
Home Builders.
According to John G. Gosnell,
president of the Home Builders,
the responsibilities formerly
assumed by Clayton will be
divided between two new ap
pointees. They are Miss Mary
G. Sherwin, former executive
assistant to the executive vice
president of the association,
who will serve as director of ad
vertising for the Home Builders
Monthly, and James W. Mitch
ell, a University of Maryland
School of Business graduate,
who has been named director of
the accounting department for
the building group.
Miss Sherwin, a University of
California graduate who had
several years of experience in
promotion and advertising in
the San Francisco area before
Joining the Home Builders, will
continue to serve in her capa
city of director of special proj
ects while serving as advertis
ing director.
| A Year of Record Growth
1 j for
County Federal Savings
and Loan Association
In the pest year eur total resources reached a record high of more than
$17,000,000, and dividends distributed to savers ware the highest aver. Home
leans increased in similar fashion.
Wa express our sincere appreciation to the savers of the community, more and
more of whom aro discovering that County Federal Savings is the convenient,
friendly, safe and profitable place to savo ... as wall as the preferred source
of loans for home purchases and refinancing.
Wa look forward to serving you in I $63.
Resources more than $17,000,000
| COUNTY FEDERAL SAVINGS §
I and loan association iyO §
1H Commerce Lone, Rockville Phone [phone] * [aril MMi O P,r
All Accounts Safely Insured up to SIO,OOO by an Agency oi the U. S. Oov’t. Annum {
Sava and Withdraw by Mall—Wa Pay Postage, Furnish Envelopes. Current Dividend Rate
Paid 4 Times a Year.
Savings Received by 10th Earn Dividends from Ist.
Year End
Finds CD
On Move
Development of a public fall
out shelter program for Mont
gomery County residents is
moving along at a progressive
rate, according to Rear Adm.
G. Roy Hartwig, deputy civil
defense director for the county.
At the end of the year, Adm.
Hartwig noted, 61 building own
ers had authorized use of their
premises for shelter facilities
which will provide protection
for some 54,000 persons. In
addition to these, he pointed
out, 17 buildings at the Na
tional Institute of Health are
currently being marked with
shelter signs identifying as
protective sites for an addi
tional 39,000 refugees.
The defense official said nego
SERVING WASHINGTON and MARYLAND
CRUSHED STONE
Any Amount Any Size
FOR ALL
RESIDENTIAL, COMMERCIAL, INDUSTRIAL USES
• Parking Areas • Driveways • Built-up Roofs
• Concrete • Roads • Asphalt Concrete
j PO. 2-9307 |
PROMPT DELIVERY TO YOUR HOME OR JOB
Rockville Crushed Stone, Inc.
13900 Piney Meeting House Rood • Rockville, Md.
tiations are currently under
way with 40 additional public
building owners to provide fa
cilities which would offer fully
qualified shelter space for an
other 20,000 persons.
Meanwhile, existing spaces
MR. LOT OWNER SAYS
I Got Fast Results! . . .
W* liked Hie co-operative building program of
Best Inildere, Ine. They got onr financing
they built our sew home on time—and just like
wo wanted It Our family is happy! Wa‘ra
living batter for loss! Could wo ask for mare?
You need this fellow Best because ho knows how
to got things don# for a lot owner. Ask his
owners we did.
BEST BUILDERS INC or Data S
HA. 7-7300 ; HA. 7-7300 WH. 2-7790 j
IMS Rockville Hike t data lot owners need.
Rockville, Md. t Name _ J
(10 minutes north of Bethesda J I
out Wisconsin Ave.) J Addreee ——— - i
■oasins Clinic —Ope. Dally J Phone _____ •
J I own. lot !
are being fully stocked with
necessary supplies and identi
fied as shelters through (he
joint efforts of State and ooun
ty authorities and the Army
Engineers.