Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-03

Net earnings of
$7,439.59 indicate Guy d. CowI.
that the corner has
been turned. A further increase In
freight business has been evident curing
the present year, freight trafnc LOT
March and April having been about
four times as large as in the same
months last year.
THE road is under new management,
which assumed control last season.
George H. DERRICK, the president, mas
had long experience on important
western lines; Eugene Fox Is vice presl-
dent and Col. Lee H. Lands, general
manager. All are veteran railroad men,
Col. Lands having managed the Gov
ernments Alaskan railroad properties
after holding important executive posi-
lions elsewhere. Capt John h hughes
is general passenger and freight AGENT
clarence Anrys heads the industrial
division. John M. Rector Is secretary
and treasurer and A. H. Hart, auditor.
Tho comprehensive program OF I'M
nrovernent initiated by the new man.
agement has already included the IN
PRODUCTION of gas-electric motive power
for the Winter season, numerous pet-
terrnents in right-of-way and railway
stations and the demolition OF the olo
boardwalk at Chesapeake Beach, wnere
a new park is being built: Two new
locomotives have been added to the roll
ing stock, as we'll as five new coacneS'
to accommodate Summer travel.
The refunding arrangement on the
oroperty's bonds will facilitate the issue
of q proposed first mortgage $T5O,OOO
issue If and when the companys plans
To establish a ferry service to the East
ern Shore are approved by the inter-
state Commerce Commission.
Under the refunding plan made IN
connection with the present debt, the
total bonded indebtedness OF the com.
pany. in case this issue Is made. would
be ST $50, 900, covering the railroad ana
ferry properties.
Cowl Manages Branch Office.
GUY D. Cowl, one of the youngest
bank officers in the city, Is manager OF
the McLachlen Banks new Southwest
Branch, which was thrown open to the
public early this week. Mr.. Cowl start
ed his banking career as runner with
the McLachlen Banking Corporation II
years ago. He advanced rapidly In the
main Office and four years ago was
made assistant treasurer and manager
of the Southwest Branch, in its former
location. The new bank Is across from
the Bureau of Engraving and Printing
and its nearest competitor Is the River
Street Branch of the National Bank OF
washington, although these banks are
quite distance apart.
March Automotive Exports Up.
United States exports of automotive
products in March were valued at $39,-
A64 96S, an increase of $7,180,829 over
February, Commerce Department re-
ports. THESE shipments in March, 1929,
were valued at $78,324,a79 and $49,-
e34,l63 in March, 1928.
During the first quarter of 1880 ship
nients of automotive products totaled
e1o3,9l5,7Sl, q gain of S13,94l 1852 over
the exports in the final quarter OF last
year. However, this total is As per cent
and IL per cent, respectively, under
the first quarter figures for 1928 and
1928.
Supreme Court of Business"
3. M. Baruch of New York, in an ad-
dress before the Boston Chamber OF
Commerce, suggested the erection OF
tribunal where business can practice
group Enforcement" He pictured
worldwide over-production as a pri-
mary factor in present economic con-
ditions, and characterized attempts to
correct these conditions under existing
laws as revealing an amazing spec
tacle Of complete economic stultifica-
ton" AS an alternative he outlined
plan for a Supreme Court of Business"
as 1t had taken form in the minds Of
students of the workings Of the War
Industries Board, Of which Mr.. Baruch
was chairman.
Trade Board to Issue Booklet.
The Washington Board of Trade is
sponsoring preparation OF an tnforma-
tive book on Washington dealing with
all phases Of local activity, Federal de-
partments. points Of interest and con-
tanning short histories of many business
houses and banking institutions. The
leather-bound volume will contain about
400 pages of reading matter and be-
tween 200 and 800 illustrations.
Between 1000 and 5000 copies will be
distributed free to large hotels, cham
bers of commerce, libraries, trains de
luxe, schools and other strategic me-
diums throughout the country by which
the National Capital can be advertised
best.
Heard in Financial District.
Washington bank clearings for the
week totaled $22 ,667 900, against
$23 905, 900 last week. Clearings were
ii per cent behind the corresponding
week year ago
Harry M. Bedell, prominent manu-
facturer, member of the Chamber OF
Commerce and other organizations. was
elected a director in the Bank of Com
merce g. Savings at yesterdays meet
ing, John M. Riordon, executive vice
president. announced today.
Fox Film Corporation has declared
the regular quarterly dividends OF 81
IN cash on the class A and class Z
common stocks, both payable May 2C
to stock of record May IL. Prevtou:
declarations were 81, payable in scrip
on January is to stock of record De-
cember 81.
Charles w. Gold, president of TIT
American Life Convention and vtc'
president of the jefferson Standard Lit
Insurance Co., Greensboro, N. c., haI
been nominated by the National Coun
Gil of Chamber of Commerce Of thu
United States to be a director to rep
resent insurance for the ensuing tern
on the board of directors.
Statement of Loew's, incorporated
and wholly owned subsidiaries as o.
March IA. 1880, shows total assets O
Hl25, 167,056, comparing with $l24,
23.624 on August 81, 1929, and surplus
o. S25,082. Ala, against $40, TBS, 083. Cur
rent assets on March IA amounted Il
35,736,894 and current liabilities &c.,
o96,289, comparing with $50. 1881 ant
sl0,555, 1853, respectively, on August 81.
&yrxry nYYc cEnxyYNT