Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-08-27
|, B. A. TO DRAW
! BIG ATTENDANCE
Annual Session at White
j Sulphur Springs to Be
| Held in October.
BY EDWARD C. STONE.

that the annual convention dC WHITE
Sulphur Springs in october will have
a larger attendance than the 1884 Ses-
sion at the same West Virginia resort
and is likely to be the largest since
the 1929 Wall Street crash.
Advance information about the pro-
eram indicates that less stress will be
placed on forums this year and more
addresses by noted speakers will be
included in the general sessions. With
corporate financing on the increase,
many bond experts believe that this
years program will be OF more value
than the one carried out year ago,
when 500 members and guests were
present, or 40 per cent of the member
ship.
With the securities act now in more
workable form that piece Of legisla-
ton will take secondary place as
topic of discussion, dealers say. They
emphasize, however, that the act re-
mains highly important as factor in
all underwriting and distribution Of
securities, and because of this more
than casual attention will be paid to
Its manner of operation.
The matter of railroad credit, thor
nughly discussed at last years meet
ing, will again be considered. AL
though investment bankers view some
of the fundamental problems bulking
In the railroad picture as unchanged
from a year ago, considerable I'M
provement has been shown in many
respects and talk Of a railroad bond
issue is something within the bounds
of reason. Public utilities and the
outlook for public utility financing
are two subjects certain to be dealt
with extensively at one or more ses-
sioEs.
Steps being taken to correct for
eipn bond defaults will likewise be
viewed. Government expenditures In
the United States and their conse-
puent effect on outstanding bonds OF
various Government units probably
will also be a live topic of diScus-s
sion.
Attorney Paul v. Keyser of this
city is general counsel for the as
ISOLATION, having held this position
for years. The next president will
be Orrin G. Wood, succeeding Ralph
U. Crane.
b. e. o. July Net Lower.
The Baltimore g. Ohio Railroad re-
ported today that net railway operat-
ing income in July totaled 81 ,276,784,
In comparison with $2,166, 003 in the
corresponding period last year, a de-
crease of S898,219.
Both freight and passenger revenues
were lower, the detailed report showed.
Railway operating revenues amounted
to S1O,772,712, against $11,654,709 last
gear in July, 1884.
Operating expenses we're held down
10 a figure only slightly higher than
9ear ago, standing at S6,507 28l, as
compared with So ,497, V62, difference
of S9,5I8. Usual deductions from net
revenues were S6,703 more than year
ago.
Net railway operating income for
The first seven months of 1885 was
also reported, $12,524.3 1872 comparing
with SIS, TAI 1851 in the same period
last year, a decrease of S1,2l7,479.
This was largely accounted for by a
falling off in freight revenues. The
d. & o. took in 500 oo3 .o7o for freight
service, against s70,376,127 last year,
D drop of $l,373,057.
Insurance; Agents Honored.
Twenty-four agents in the Wash
lngton Office of the New York Life
Insurance Co. have qualified under
club rules to- attend educational meet
angs to be held next month, Earl D.
Krewson, agency director, announced
today. This is the best record yet
made by the local branch. The agents
9nclude Ralph Cipriano, Loren Clus-
ter, Herman Friedman, Frank Jude,
Earl Krewson, Leo Lloyd, John Lynch,
Miss Alma McCrum, Walter Pangle,
Chalmers Roland, David Samakow,
D. 2. Satterfeld, R. c. Satterfeld,
Harry Shalin, Sidney Simon, Lea
6tapler, Warren Stone. Meyer Taske,
Charles Tuchton, George Thomaides,
~ T. Walter, Edward Wolverton, Miss
3. M. Woods and Miss Ethel Youngs.
The Federal Reserve Bank of Rich
snond expects that Fall trade in the
fifth district will be substantially bet
Ter than a year ago. Orders placed by
retailers with wholesale firms and
manufacturing houses are the heaviest
In recent years. The business stimu-
Baton is largely credited to increased
industrial pay rolls, added income for
FARMERS and heavy Government ex-
penditures.
Clothing demand in the fifth district
Is said to be especially good. Bank
Elearings are higher all over the dis
trict. Cigarette production in Vir-
ginia and North Carolina Is setting
new monthly records, the Richmond
bank says.
May Retain Pension Plans.
1t was reported in the financial dis
trict today that some of the banks
which operate pension plans of their
own are expecting to keep them in
operation after new social security
Jaw goes into effect. The banks, of
course, will comply with the new law
and make the payments and collec-
tions required of all employers of
eight persons or more. Continuance
by individual banks of pensions which
they have carried for several years
would mean great deal to those
employees who have already rendered
long and faithful service. 1t Is too
soon, however, to say just what will
be done.
Marion M. Caskie was sworn in
yesterday in his new position as an
Interstate Commerce commissioner.
TOday's Trading on Exchange.
Small lot trading in Capital Transit
stock decreased today with six sepa-
rate transactions being recorded. The
stock opened at 1873, dropped to 1874
and closed with three 10-share sales
at 1873, against a close of 1914 yester-
day. The final bid was 1915, with
961a asked.
In the bond division Washington
Railway & Electric Is came out in
$1,000 sale at 1854, off 1s from yes
terday's close. City & Suburban IS
appaored IN the hoard in a 81 (110