Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-27

bureau for the bepefit of the Local
banks. He vas chairman Of this spe-
cial committee when elected to his
present Office and was asked to continue
as its head. The general plan of OPP
Grafton was outlined and the aSsoci-
alton will take definite action on the
matter later possibly before the an
nual convention.
Reports were submitted by the chair
man of the several standing commit
tees of the association. These were
preliminary to the reports to be SUBJ
mitted at the annual convention in
June and were as follows: Advertising,
Eliot H. Thompson; commercial trade
activities, Barnum l.. Cotton, in the
absence OF Chairman P. H. Siddons;
fraudulent securities, Eugene H.
Thompson; insurance, Charles H.
Doing; law and legislation, Frances G..
Addison. jr.: protective, Howard Moran;
publicity George 0. VasS; standardized
banking forms, Frederick H. Cox; taxa
ton, H H. Mckee, and treasury rela-
tons, Wilmer j. Waller.
The auditors, fiduciary and safe de-
post sections, of which the respective
chairman are j. Damn Faber, F. p. H.
Siddons and Charles e. Howe made
reports through Secretary z. j. NC
by Lanier P. McLachlen regarding the
coming Spring dinner at the Columbia
Country Club, on May 8, and General
Chairman c. H. Pope reported steady
progress on every feature OF the COM
ing June convention.
The association went on report as
heartily supporting the candidacy OF
T. Hunton Leith for place on the
executive council of the American In
stitute of Banking and also expressed
keen interest In the construction OF an
armory in the District of Columbia.
The meeting was largely attended.
vasco Products Earnings Up.
vasco Products, Inc, q company with
headquarters In Brentwood, Md, which
has q large number OF Washington
stockholders, reports that sales for the
first quarter ending March 81 increased
more than 26 per cent over the cor
responding period In 1928. At the
same time operating expenses were
lowered 10 per cent, indicating econ
omy effected through increased produc-
ton, Improvement and new equipment.
The company reports that net proflts
after depreciation increased over the
same a. per cent and covered nearly
half Of the present years 9 per cent
49,
as distributor Of several proprietary
products. The president, G. A. Mains,
Is much pleased with the financial
showing made so far this year.
Institute dominates Oficers.
Washington Chapter. American In
stitute of Banking, has nominated the
following officers in connection with the
annual election, which takes place on
May o: President, A. e. Henze; first
vice president Frank M. Perley: second
vice president, Aubrey o. Dooley ana
Robert II. Lacey; secretary, Rose l..
Royce: treasurer. Richard A. Norris: as
sistant secretary, Eleanor Dankmyer and
Esther r. Lau; chief counsel, j. Fred
English and William B. Mehler; menu
be elected), John NJ De Marco. Wilbur
C. Dieter, Henry ~ Kinball, Frank w.
Lee, Eugene r. Nzrks, Robert A. Sisson,
Robert @. Whitton, William S. VIM
stead, Laila Sloat and Mildred c. Wood
cock. Elections will be held May 9.
Delegates elected for the national
convention at Tulsa, Okla, in June are
Bernard Boudren. H. w. Burnside, W.
A. Cady, r. Jesse CLANCY, John De
Marco, A. o. Dooley. j. c. Dulin, j.
Fred English, A. E. Henze, Geralds
Keene, w. p. Keith, John Keener,
Catherine Krieg, H. F. Kimball, r. H.
Lacey, Esther Lau, Frank Lee, 7. Hunton
Leith, Raymond Lewis and e. J. Nc
Quade.
william Mehler, T. Edwin Norris,
Richard A. Norris, Stuart Ogilyie, Frank
Perley, I. j. Roberts, Mabel v. Royce,
Rose L. Royce, Walker Sanderson, Al
fred Sherman, Robert A. Sisson, James
A. Soper. w. w. Spaid, w. ]. Waller,
Whitton, william Winstead and Mildred
c. Woodcock.
b. q o. Reports Higher Net.
The Baltimore g. Ohio Railroad to-
day reported net railway operating In
come for March as 81, 1872 ,964, against
1891 TIA In March year ago, an In
crease of $1,291.8
Freight revenues totaled S17,134, 654
compared with $l5,857 sci, gain Of
$l,277,l33. Passenger revenues durinf
the month showed loss of $19,294
over the total income q year ago.
For the first three months Of tht
present year net railway operating in
come amounted to $9,22l, ST., agains
$6,242,366 in the first quarter last year
an increase in 1929 OF $2,979,205
The three months summary also re-
vealed a gain of over $4,000, 900 II
freight revenues bu. loss in passenge
revenues of a little over $3.50. 600
Operating expenses for the quarter wer'
somewhat heavier this year than last.
Southern's Net Slightly Lower.
Estimated net income of Southern
Railway Co. for quarter ended Marcl
81, 1929. was $3,23s, 900 after taxes ant
charges, equivalent, after allowing 10
per cent preferred dividend require
ments, to Siol a share earned on J..
900 900 shares Of common stock. Thi
compares with $3.561 900, or $2,l6
share. in first quarter Of 1928.
March estimated net income was 81,
185 900 after taxes and charges, agains
1901 600 In March, 1928.
Bankers 10 Attend Convention.
A delegation of local bankers, includ
ing at least one representative fror
every bank, is being assembled as tn
Washington delegation to the Nations
Safe Deposit Association convention j
Baltimore May 1913, the session In
GLIDING a tour by delegates OF the Yor
Safe & Lock Co. works at York, Pa
whore they will be guests OF the concer
at dinner at the York Country Club.
Charles r. Howe, treasurer OF IN
American Security g. Trust Co. an
Chairman Of the safe deposit sectio
Of the District Of Columbia Banker
Association. will be a speaker al u,
convention, his subject being The As
OF Gold"
A special trip to inspect the Yor
Safe IL Lock Co.'S plant at York wi
be one Of the side trips.
Check transactions during the wee
ended April 20 showed a gain ov'
both the previous week and the san
in 1923. according 70 the weekly STATE
ment on the business situation sun
married by the Department OF Con
nerce and made public yesterday. I'll
general level Of wholesale prices aga
rsceded from the previous week, BEN
lover also than q year ago. N