Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-22
Mangan Manages NeW Office.

| another New York Stock Exchange
house has added Washington oS1ce
| to its list during the past week. Hemp
| hill, Noyes Ss Co. having installed the
! tranSluX service and other equipment
in the new Shoreham Building. Thomas
| j. Mangan, jr., is manager of the office,
| assuming the duties of the position
| after several years aff1liation with the
! investment field in Washington. The
members of his staff are also well known
| in local finance. while the Office is the
! twenty-fifth branch which the company
has established outside Of New York
City.
c. & o. Makes Fine Showing.
| Local stockholders in the Chesapeake
6 Ohio Railroad were commenting to-
| day on the roads fine showing in jan
uary. While many roads have reported
| decreased returns the c. & o. reports
an increase in both gross and net re-
/ ceipts, compared with January, 1929.
| The roads gross revenues increased
! $222,000 and net income after all
| charges made a gain of $668,000
The earnings follow:
January gross. $40 ,861 ,s7s $40, 63e, 1es
! Net oper. inc.... 3,364432 2,85l ,906
/ @Surp. after chgs. 2,940524 2,252, $50
'After sinking fund appropriations.
Huge Gain in Estate Values.
Gross value of estates as shown by
| Federal tax returns for 1928, which
have just become available, mounted
to three and a half billion dollars. a
gain of IL per cent, or 1891, 000, 900,
over the 1927 total, Joseph S. Mccoy,
| United States Government actuary of
| the Treasury Department, said at the
| New York trust conference, in present.
| ing an address replete with new sta
! tistics. His subject was 1.-THE Growing
Field for Trust Service" and the fig
ures he gave developed his topic with
! out the necessity for explanation of
| their meaning.
Savings Conference Program Out.
Topics to be discussed at the coming
regional savings conference in New
| York on March 90 and 81. have been
! announced by the American Bankers
| Association. They include advertising,
personal loan department, cost account
ing and audit control, pension and
| bonus plan, interest from day of de-
post and open end utility mortgage
bonds. Local bankers declare that this
| is sure to be one of the best confer
enceS of the kind ever held.
washington will send large dele
! cation. The banquet on the second
night will be feature, the chief speaker
| being Julius Barnes. President Waller
Of the local bankers association is plan
ming to mail further details about the
| meeting to members. AS previously an
nounced Howard Moran, vice president
| of the American Security & Trust Co.,
is on the banquet committee.
Cleaned in Financial District.
The banks and brokerage houses in
the Capital paid tribute to Washington
| tCdoW tho financial GiSfriaf hoiv,ey
! quiet.
| Over 10 out-of-town guests will at
| tend the A. I. B. banquet at the Will
| lard this evening. Officers of the local
chapter will give them a breakfast Sun
day morning at the Manor Club.
L. A. Yerkes of New York, president
of du Pont Rayon Co., and a director of
| E. 1. du Pont de Nemours g. Co., has
| been elected director of Seaboard
| Air Line Railway.
Pennsylvania Railroad in 1929 earned
| 1882 a share on IL ,495,l28 shares,
against $7.35 on 11,233,479 shares
| in 1928.
j. c. Penney Co, which has a chain
| of stores in Virginia, reports 1929 earn
| ings $4.66 a share on 1898, 661 common
shares, against $14l2 a share on SGT 1888
| shares in 1923.
Plans are being prepared by the Fed
eral Reserve Bank Of Richmond for the
enlargement of its present main build
| ing at Ninth and Franklin streets, in
Richmond The new structure will cost
approximately $l,000,000 and will oc-
cupy space rs by 100 feet.
Insurance Officers Elected.
At the annual meeting of the trus-
| tees of the Mutual Investment Fire In
surance Co. of the District of Columbia
held at the companys Office in the
Washington Loan e. Trust Building, the
! following officers were elected for the
fifth consecutive term:
Vincent l.. Toomey, president; M.
Frank Rupert, vice president; Frank
lin P. NASH treasurer, and Horace L.
Beall, secretary.
The directors declared the annual
dividend and reported the largest
amount of insurance in force in the
history of the company.
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