Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-27
B. & 0. NET DROPS
5,259 IN MONTH
Total for First Three Quar-
tiers More Than Ten Millions
Below 1890 Figures.
BY EDWARD G. STONE.

BY EDWARD G. STONE.
Net railway operating income Of the
Baltimore &, Ohm Railroad in sepiem-
ter was reported this noon at s3.si7.-
<la. against sf475.e72 in the same
month year ago. or a decrease OF
ts332S9
The B. x O. also reported net rail-
way operating income FOR the FIRST nine
naorths Of the present year as $40
2Is7i9, compared with $50. 320,s32 IN
the similar 1890 period. falling OF o!
Si0i0sll3
The largest decrease In income has,
oi course becr IN the freight depart"
rnent. but there slSo has been con-
siderable drop IN passenger and express
business The road, however, mas mace
q brilliant showing IN cutting the cost
OF maintenance Of equipment more than
100000 in the nine months.
The MANAGEMENT announced that
railway operating expenses had been
cut so far this year from silel7e6Ss
IN 1890 to 500 800 sos in the first nine
months Of 1891, reduction OF s2a,-
sI0.086
The Norfolk a. Western also reported
September earnings today, net income
being S237704s against S324Sl74 IN
September, 1880.
North Americans Annual Report.
Consolidated income statement OF the
North American Co. and subsidiary
companies for the IL months ended
Septenlber 80, 1891, shows $23. 800, 1877
for common stock after all operating
expenses, interest charges. depreciation
ard all other reserves and preferred
dividends.
THESE earnings for common stock
represent q decrease Of 1886 per cent
compared with those for the IL months
ended September 30, 1890. and arc
equal to 1894 per share on the average
number OF shares of North American
common stock outstanding during the
IL months ended September 80, 1891,
compared with S4.8i per share for the
corresponding period ended September
80. 1890. Appropriations for deprecia-
ton reserves equal ll.32 per cent OF
gross earnings for IL months ended
September 80. 1881, compared with
1859 per cent for the 1880 correspond
ing period.
Gross earnings Of si20,6S4,597 for
the 10 months ended September 80
1891, do not include gross earnings for
any part of that period Of the former
California subsidiaries, which were sold
on June Ia, 1890, TO Pacific Gas g. Elec
trio Co, dividends on the common stock
of the latter company received therefor
being included in other net income
Gross earnings OF l4o,296, LOB Tor the
12-month period ended September 30
1880, include those of the California
subsidiaries for the eight months and
~ days TO June H. 1880.
Honors for Local Underwriters.
The October luncheon meeting of the
District Of Columbia Life Underwriters
~fctf Vlft1f "A fsri az ton
Hotel at 1890 pm. Thursday, Octo-
Der %,
The program is in honor of those
members Of the association who have
received the G. L. u designation. Short
talks will be made by Earle D. Sapp on
The c. L. U. Movement; Carl Smith
Dow. on How to Prepare for the c. L.
on What the G. L. u. Designation
Means TO the Man In the Field"
The following underwriters have at
tanned the O. IL. U. designation and
this meeting is To be held in their
honor; M. q. Btlfrell, II. L. Choate.
Carl Smith Dow. H. @, Fisher, James
A. DeForce. Joseph A. Mari, Frank D.
Roach, Earle w. Sapp, Dwight T. Scott
and Paul y. Sleeper
Loan Committee Given Praise.
The personnel OF the Loan Commit
: tee elected to govern the Washington
unit Of the National Credit Corporation
Is living high praise among local
bankers. The members are II. H. Nc
Kee. Robert v. Fleming, Corcoran
Thorn. George w White, F. G. Addi-
son, jr.; William D. Hoover, John Poole,
l.. p. McLachlen and Prank J. STRIKER
A glance at the list shows the COM
mittee is made up wholly of local bank
presidents. Further study reveals that
"a c@ ,nfn ar{V, L.
didiy represented, while the District
Bankers Association has been given ex-
cellent representation
Another important fact that might be
overlooked is that the smaller banks in
the city have their representation on
the board the same as do the largest
banks. The members are all men of
wide experience in finance and capable
OF administering the nearly $4,000 900
subscribed IN Washington in a most
careful and helpful manner. They will
have the final say on all loans requested
In their jurisdiction, as their indorse-
ment is necessary before the national
association will pay out any money.
The organization Of the committee is
also considered particularly pleasing. as
II is generally felt that the chairman of
the Washington Clearing House Asso-
citation, II. H Mckee, should also hold
the same ofhces with the Loan Com
mittee
Today's Trading on Exchange.
Trading on the Washington Stock
Exchange today Was led by Washington
Railway & Electric As, two SIS 900 sales
being recorded at SIS Potomac Elec-
trio Consolidated SIS figured in n 81. 600
sale AZ lol. same as the last previous
sale
LanSton Monotype recorded small
lot sale at IS, this being an advance of
some points from about a month ago.
The market closed with Potomac Elec-
trio Power per cent preferred selling
at 40, practically the same as other
recent sales
Exchange officials expressed gratifica-
tion TODAY that local issues are holding
up so well.
CLEANED in Financial District
President Joshua Evans Of the Dis
tict National Bank who recently un-
derwent an operation at George Wash
ington Hospital. returned to his home
Yesterday and will be back at the bank
within few days.
Gen Robert E Wood. president Of
Sears Roebuck. viii be in Washington
tom GROW ard Thursday and will spend
part 81 his time visiting the company'S
big store here.
Building permits in the Fifth Fed
eral Reserve District in September
were 6s per cent greater than those