Evening star., 1926-05-26

which gives April | an improvement
in net income of S11 ,697.62.
The net operating income for the
first four months of the present year,
totaled 1878, 1922 and net income for.
the same period reached S272, ,896.f3.
The report also showed that passen-
ger traffic on the company's various
bus lines is thriving. The number ~
passengers carried on the socalled
Parlor Car Bus line on Connecti"ut
avenue, which operates between the
center of the city and Chevy Chase.
was 29.5S9 people during the month
and it will be recalled that the COM
pany has a 25-cent rate on this COM
paratively new route.
Local Securities Hold Firm. .
Only moderate trading prevailed on
the Washington Stock Exchange to-
day. when prices maintained frm
position. Potomac Electric Power pre-
ferred sold at 1862 An odd lot Of
Lanston Monotype brought ssh and
10 other shares went At an advance
of half a point. There was ono sails
in Washington Gas Light stock ar
6S15 and stock trading concluded with
the transfer of 25 shares of Washing
ton Railway common at $50. the pre-
ferred stock of the same corporation
having brought Ss7s earlier in the
session.
Bond trading opened with a sale ~
Capital Traction 5s at 100. followed
by two others in the same issue a.
1904 Washington Gas 6s opened a.
1925. advanced to 1924 and on two
larger sales received 104. Anacostia
| and Potomac Railroad 5s registered
943l and two more sales in Capital
Traction 5s revealed an advance NJ
half point. Washington Gas SIS
wound up the days transactions with
| a $4,000 turnover at l04.
New Farm Loan Issue.
An issue of 81 900 900 of per cent
farm loan bonds of the North
Carolina Joint Stock Land Bank OF
Durham is offered today by Dillon.
Read & Co. and the Old Colony
Corporation. The bonds are da ed
March /, 1926 and are redeemable as
a whole or in part by lot on March l =
1886. or on any interest date there
after. at 100 and interest until
maturity, March ], 1856 The Offering
net about 4.60 per cent to optional
date and per cent thereafter 10
redemption or maturity
The bonds are exempt from Federal.
State. municipal and local taxation.
under the provisions of the Fedora l.
farm loan act. and are secured by first
| mortgages on farm lands and I'M
provements in North Carolina and Vir-
sinia.
Railroad Earnings Improve
Four big railroads running out of
Washington show substantial gains In
their earnings. according to reports
for April, which have just come out
Net operating income of the Pennsyl-
vania Railroad for April shows mark
ed improvement over the same month
| last year. $7.37S.1o2. against s6.7S2.-
9S2. The total for the first four
months Of 1926 rose to $25.30n, 400 ;.
compared with s21 ,s7S,476 during the
same period in 1925.
April earnings of the Chesapeake
and Ohio show marked improvement
over those of the same month last.
year. net operating income rising 10
$2,103.356 compared with $1,S63.907
Gross revenues gained S536.lS9 Net
operating income for the four months
of 1926 was SS,936.510 against $685.
320 year ago.
The Norfolk and Westerns net
, operating income in April was S2,614.-
3l9 against $1,5SS,426 for the same
month last year. Net operating IN
come for the first four months of the
year is also we'll ahead of the same
period year ago, the total heing
81 ,012,S50 against $7,S33.756.
The preliminary report of the BaIti-
more & Ohio indicates that the road
made the largest proportionate gain,
of any Eastern trunk line in the first
quarter OF the present year. with the
Pennsylvania second and the New
York Central third. The Pennsyl-
vania was ahead in gross earnings.
but the h. & o. carried off the honors
in net earnings.
The Seaboard Air Line detailed re-
port is not out yet. but President War
field has given out figures on car load
ings which indicate that the financial
returns in April will be most satisfac-
tory. Notwithstanding the crimp put
in the Florida boom gross revenues
of the cOmpany'S new lines in that
territory have exceeded original esti-'
mates.
Sees Ice Industry Awakening.
John Nickerson. head Of the concern
by that name in New York declares
that men in the ice business should
not become panic stricken over the
probable effects Of electrical refrigera-
ton on their profits. He told the So
ciety Of Refrigeration Engineers the
other day that the ice men will con.
tinue to deliver ice to the vast ma
jority of people for many years.
1T has taken 40 years to wire for
electricity less than so per cent of the
homes of the country" he saws. wet
electricity is regarded as a low cost
and practically an essential service.
How can it be expected that a COM
paratively expensive device. such as
the electrical or gas mechanical re-
frigerator. will be embraced overnight
by the public in sufficiently large mum.
bers to retard an industry so long e.-
tablished and whose economical i'm
portance has been so we'll demon
strated. =
However, he adds that there Is ur =
doubtedly a field, and a broad one, for
the small mechanical refrigerator and
he does not take lightly it's present
expansion and its possibilities as a
competitor In the ice business. He
SAYS that many ice men see this and
have already made moves to improve
their service, cut costs, employ better
management, and in some cases bring
about mergers. He adds that the re-
frigeration campaign has in these
ways been beneficial in that it has
walked up the ice industry.
&c. C. Bond Authority Asked.
Authority to issue $2.500.000 of s
per cent equipment trust certificates,
to finance the purchase Of 500 box
cars was asked of the Interstate Com
merce Commission by the Western
Maryland Railroad today. They would :
be issued by several different finan-.
ciai houses which in competition alls'