Evening star., 1936-09-28
B. & 0. EARNINGS
INCREASE SHARPLY
August Net at S3,115,696,
Against S2,288,895 in
Same 1885 Month.
BY EDWARD c. STONE.

august WHen net railway Opei dVlilS
income totaled S3,115,696, as COM
pared with S2,288,895, or a gain of
1926 ,8o2 over August 1885,
There was a sharp increase in
freight revenues during the month
and the lower passenger fares also
were reflected in marked improvement
In passenger earnings Recent Nation
wide business recovery also was pic
tured in a good increase in express
revenues.
Freight revenues in August totaled
Sl2,551 ,556, against $l0,29l ,450 in Au-
gust year ago, an increase of $2,-
260,l06. At the same time passenger
revenues crossed the million mark,
amounting to $1,025.113, against
S900,5l9 a year ago, or an advance of
Sl24,594, the figures showing that
the lower fares are winning back
good deal of passenger traffic that had
gone elsewhere.
Railway operating expenses also
were higher in August than a year
ago. more money being spent for
maintenance of way and equipment.
Operating expenses for August finally
stood at S9,949167, in comparison with
S8,763,548 in the like 1885 period, an
increase of ST, ,185,619 and leaving total
net revenues from operations of S4,-
4l2,443.
For the first eight months of 1886
the Baltimore & Ohio reported a gain
of 1892 908 in freight revenues and
S854,299 in passenger revenues. EX-
S55.000. Operating expenses also
climbed. being more than Sl1 900, 900
higher than a year ago. After all de-
auctions the eight months net op-
Grating income totaled S17,743,5 SIS,
against Sl4,744,4l7, a gain so far
this year of S2999,l59.
Brokerage Offices Crowded.
New York Stock Exchange Offices
In this city were crowded long before
the market opened today at 10 o'clock,
both investors and traders. being ex-
ceedingly anxious TO see how the mar
ket took the French franc Geyaluation.
The market opened higher, with heavy
Trading
Most brokers in Washington think
the market should advance as a result
of the stabiliZation move. While the
foreign exchange situation is highly
involved the view is held here that
eny efforts toward better currency
equilibrium will be helpful to foreign
trade. which In turn should help values
In the stock market. The action, how
ever, is the most momentous that has
been taken in foreign exchange cir
cles for long time, and for that rea-
son quotations on the New York Stock
Exchange and other big exchanges
Uilf be followed with exceptional in
terest during the next few days. Day.
light saving ended today, the markets
going back onto Winter time.
The Investors Dealers Digest to-
day reported the result of survey
among securities dealers and predicted
that both the stock market and the
bond market will decline between now
and November 2, the day before cleo
tion. The declines, however, are ex-
pected to be small, the stock market
an average of 90 per cent and the
bond market 0.6 per cent.
Election uncertainty will continue
throughout October with the result
very much in doubt to the end, says
the United Business Service in its
current report. AS a consequence, re-
roVery is expected to be heSitant next
month. with business men adopting
an attitude of "watchful waiting" In
spite of Washington uncertainties and
foreign unsettlement, business dur
ing October is expected to be we'll sus-
tanned.
Chapter Registrations Jump.
With the majority of students al
ready enrolled for the first semester,
Washington Chapter, American In
stitute of banking, is showing an ap-
preciably increase over recent years,
1t was announced by Paul j. Seltzer,
chapter president, today.
A record class is reported in bank
ing 1, making it necessary to divide it
into two sections. This class will be
Instructed by Eliot H Thomson, pub
llcity manager, Washington Loan &
Trust Co., the regular instructor, and
james c. Dulin, jr., treasurer, Ameri-
can Security & Trust Co. Mr.. Dulin
is past president of the chapter and
has previously served in the faculty
es instructor in investments.
Alt other classes also show an in
crease over last years session. A
course on discussions on current trends
In banking, economics and govern
rnent will commence on October g. 1t
will be instructed by Edward Stone,
chief of the Project Analysis Division,
Resettlement Administration. This
course will deal with current economic
and political trends, with particular
attention to their effects on banking
Underwriters Hear Taggart.
At the first Fall luncheon of the
District Underwriters Association,
held at the Willard this noon, Grant
Taggart, from Wyoming, was the guest
speaker. He has made brilliant rec
ord as a producer and gave the Insur-
ance leaders of the Capital some very
valuable ideas on the most successful
methods of selling policies.
Laurence H. Riggles, new association
president, presided at the meeting and
outlined many of the plans to be car
yied out this year More than 30 Of
the members have just returned from
the national convention in Boston.
in addition to President Riggles, this
years officers include:
Dwight T. Scott, first vice president;
Winthrop G. Batchelder, second vice
president; Loren L. Cluster, secretary,
and Richard w. Griswold, treasurer.
Today's attendance made a record for
q September meeting.
Heard In Financial District.
Net operating income of the Penn
eylvania Railroad in August gained
S4,508,655 over August, 1895, it was
reported today, and eight months
operating income was up more than
Sal 100000. Western Maryland R. R
also reported marked improvement in
net.
Joseph K Meyer, dean of the School
of Business of Southeastern Univer-