Evening star., 1937-07-26
B. & 0. EARNINGS
RISE IN HALF YEAR
Operating Income in June
Falls Below Same Month
in 1886.
BY EDWARD C. STONE.

Baltimore g. Ohio R. R. in the first
six months of 1887 disclosed a gain
OF $1649,605 over the first half of
1886, the company announced today.
Operating income totaled S13,763, 800,
against S12,1l4,255 a year ago.
Freight revenues scored the best
gain, reaching s77,29O,529, an increase
over 1886 of s7,826,l58 Passenger
revenues rose by S260,955 and i'm
provement in express business also
proved an important factor in the ad-
vanced revenues, the gain being Sl3l,-
SAC. Operating revenues totaled $685.
0ll,669, the total gain being $685.
SAB. Operating expenses also climbed
during the period, totaling s66,l78,-
562, an increase of s6,018,7O5.
While the B. e. O. had a substan-
tlal gain for the six months, net rail-
way operating income in June of ST.
0l9,6l8 was S459272 lower than last
year. This was caused by higher ex-
penses and a decrease of S73094 in
freight income. Passenger income
was up S57,772 and express over Sl2l,-
900. Expenses required s11,422, ,l48,
up s937635.
Ayres Predicts Trade Jump.
Leonard P Ayres, economist, pre-
dicted today that the dollar value of
holiday trade this year will be about
IL per cent better than year ago.
He made the forecast in the July issue
of Advertising Agency. He also eX-
poets the agricultural income of the
country to be the largest in 1887
since 1929. In conclusion, he said
by next Autumn the advances in
wholesale commodity prices that took
place this Spring will be reflected in
advances in the prices of goods at re-
tail. Probably about half of the to-
tai increase in the dollar volue of the
holiday trade will be due to price ad-
vances, and the other half to increased
quantities of goods bought.
"A general crop failure could
change this picture, and so could
continuing period of increasingly wide
spread labor trouble 1t could be
changed by the outbreak of serious
war abroad. Nevertheless the present
prospects are against any one of these
developments, or any combination of
them"
JeffreSs Joins Gillet Staff.
Announcement was made today that
Newton JefreSs, formerly with the
Reconstruction Finance Corp. is now
associated with Gillet & Co.. Inc, in
its local Offices in the Woodward
Building.
Gillet & Co., established in 1920,
conducts a general investment securi-
ties business. Charles r. Connolly,
manager of the Washington Office, is
an officer and director of the firm,
having been associated with it since
1928, The main office is at Balti-
more, with other branches in Phila-
delphia and Wllliamsport.
d. c. Brokers Optimistic.
Much discussion is heard in Wash
ington brokerage offices on the outlook
for the early and late Fall seasons.
Brokers here, as well as many of their
customers, are unusually optimistic
This morning they were pointing to
the statements Of many of the econo-
nlists in New York banks, who look
for steady business improvement from
now to the beginning of 1898, basing
their views on statistics.
The probable larked increase in
farm income this Fall is given as one
of the best reasons for a further busi-
ness upturn. This added income will
greatly increase buying power all over
the country. Early adjournment of |
Congress is also cited as one Of the |
factors which should be helpful to |
the stock market. The worst of the |
Summer lull is now considered to be |
over.
Bankers OFF on Vacations.
Edward L. Hlllver, vice president |
Of the Union Trust Co. and former
president of the Washington Stock |
Exchange, will leave Washington to-
morrow for New York to sail on
the Queen Mary for vacation tour
In Europe
Robert V. Fleming, president of the |
Riggs National Bank, has been spend |
Ing few extra days at his Summer
home at Rehoboth Beach.
G. j. Gockeler, Hamilton National
Bank official, spent the week end at
Ventnor, near Atlantic City, N. j. He
will go there for his vacation.
Joshua Evans, jr., vice president
OF the Hamilton National, is now on
his vacation passing the time at a
resort in Pennsylvania
Richard D. Bond, who represents
Poor's Publishing Co. in Washington
Maryland Virginia and Delaware, is
visiting the company's editorial Offices
at Wellesley, Mass, and attending the
Arms annual convention in Boston
Heard in Financial District,
Inc total volume of life insurance
sales IN the South Atlantic States in
June was S59,658,000, gain of 7 per
cent over June, 1886, and S349.936 600
IN the first half year, an increase of
II per cent over 1886. The half-year
total for the whole country stands at
s3,8l6,35l,0 900, a gain of per cent
over the same period last year.
industrial activity in general con-
tnues to show marked resistance to
seasonal and other retarding inf1u-
ences and operations in practically |
all lines are holding we'll above a wear
ago. says the United Business Service |
Ihe service concludes that, while
some further curtailment in business |
can be expected during the weeks i'm
medlately ahead, business promises to
hold well above last years levels and |
what is more important, the stage is
set for a substantial upswing by Fall
Bond dealers here are looking for
ward to the Armour g. Co. debenture
issue as the most important item on |
the calendar for the late Summer
Armour stock has recently been un-
usually strong.
Today's Trading on Exchange,
Peoples Drug Stores preferred stock
sold at 112 on the Wa shipoto,, Cta,I,