The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1928-03-02
100 To ATTEND
/. BANK FETE
By RICHARD HATTON

ARRANGEMENTS are completed for
the annual midwinter banquet and
| dance of the Washington Associa-
ton of Credit Men, which will be
held at the New Willard Hotel to.
morrow evening, according to Fred
erick p. H. Siddons. chairman OF
the banquet committee. The ban
ouet will take place at o'clock
and viii be followed by q dance.
It is expected that there win be
more than 100 members OF the
association and guests present.
The guest OF honor and principal
speaker of the evening will be
stephan I. Miller. executive man
ager of the National Credit Mems
Association. Mr.. Miller Is Wea
known in washington, having at
tended many affairs Of the local
chapter Of the American 1nstltule
AZ banking. Of which he was Tor
.aarI,, educational director. Because
If their support of the Association
of credit Men and their interest
~ Dean Miller, it is expected tnat
ynanv local financiers will be among
the guests. Another guest speaker
will be Paul Phillips, manager OF
tha Eastern Division OF the NaLlonA
Association of Credit Men.
president Lister T. Watts, OF tns s
1oca1 association, will preside, ana
president Harry V. Haynes, OF Ln
E,arnars and Mechanics Nationass
rank chairman OF the Dlstrlct OF
Columbia Clearing House Assocla
finn will act as toastmaSIer q"
the banquet. x.a,,at
A. in charge of committee wnlcn
i,,e1,Sas in addition to Chairman
siddong. Lister T. watts. Frank w
| White John REILLY, w. g. Hanson
| Ravnnond B. Lewis. Mrs. =; =.
Hesse. w. C. Simpson ana Jonn
Auth.
Annual Statement
rha sixty.ei9hth annual state
nent of the Equitable Life Assur'
ance Society Of the United States,
made public yesterday, shows many
important gains. The assets on De-
cember 81 totaled $9s6,S25,1S1, an
,ncrease of $s7.22o.ooO over 1928,
which in the largest gain ever made
in a year by the company. During
the wear the outstanding insurance
nassed the five and one.halt billion
mark and now totals 1881, 4S4,4Ss.
! "a new insurance paid for ag-
ereeated S941, 412 ,53S, including
| $134424,s77 Of initial group lnsur'
/ anee
During the year the company
naid S1I2 .69S, 900 to its policyholders
and beneficiaries, OF which over
se7 600 900 was paid to living policy
holders. Over $44, 100000 was set
aside for payment of DIVIDENDS on
annual dividend policies during
20 over 90 per cent of all domestic
death claims paid during the year
were settled within one day after
recent of due proofs Of death.
Southern Railway freight rev.
enues for the month Of January
amounted to $S,14S,000 as compared
with $S,2S7'000 in January. 1877,
decrease of only 1877 per cent. &C
cording to report made pubic
yesterday. This can De consloersu
! quite satisfactory in view OF the
| fact that a heavy freight movement
continued during the early months
of 1927.
on the other hand, passenger traf-
| fic shows no improvement. Passen'
| ger revenues for the month were $2,-
| $4,000. as compared with $2,531OOO
| in the previous January. This repre-
seYts q drop OF 14.6 per cent in re-
! ceints from passenger travel.
Southerrl's total operating revenues
were S11, 1855, 900, as against I'll, 7S1,.
600 in January, 1927. This is q de-
crease Of $572, 900, or 40 per cent.
Although gross revenues showed a.
| decrease Of 40 per cent for the
month, the management was success.
full in bringing down operating ex.
penses to a lower ratio than in the
previous January. The ratio of oper-
atins expenses to operating revenues
was reduced to 1884 per cent, as
compared with 77.16 per cent a year
ago. EXPENSE for maintenance or
roadway and equipment were 34.S
per cent of operating revenues, as
compared with 34.9 per cent in Jan.
uary, 1927.
Office Increase
The First National Company. of
Baltimore, with Washington offices
in the Barr Building. in charge OF
Col. George w. Pratt, has found it
necessary to increase its local office
space in order to accommodate ex-
banding business here.
According to the report of Presi'
dent Daniel Willard, Of the Baltimore
and Ohio railroad, made yesterday,
the road earned $11.10 q share on the
average amount of common stock
Outstanding in 1927. Earnings in
1925 were equivalent to $17.2O a
share on common stock outstanding
on December 81. The earnings were
computed after dividends on tho pre-.
ferred issue.
Although the roads net income for
the year. $22, 632, 345, decreased $4,-
977, Ala from that OF 1926, it was the
second largest net income in the his
tory of the company. Net railway
operating income for the year de-
clined to $44,S17,277 from $50,
163,S5o. After all charges and divi-
dends, a surplus remained of $685.
326, a decrease of $6,825,1S0.
During the year" says Mr.. Will
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