Evening star., 1939-03-27
Baltimore & Ohio R. R.
Shows Sharp Advance
In Net in February
Report Cites $2,18l ,076
Better Earnings Than
In Like 1888 Period
BY EDWARD C. STONE.

ary upturn, tOtallng 81 ,26O .259, COM
pared with a deficit a year ago of
$920,817. This means an improve
ment for the month of $2,181 O76,
according to the monthly report re-
leased today.
Freight traffic brought in $9,512,-
1888. gain over February. 1888, of
= $l,822,31 Express showed gain
of $39,88l, but passenger and mail
revenues were not up to last year.
Operating revenues totaled $10,837,- =
04e an advance of $1,777, ,451.
Railway operating expenses were
kept we'll in hand, total of S8,492,-
267 being 1923 ,028 less than last year,
leaving net revenues from oper-
ations of S2,344 1872, gain of 81
105,479. Deductions for tax ac-
cruals and equipment rents were
$4,000 lower than in 1898.
The report for the first two
months of this year revealed net
railway operating income of S2931,-
49, compared with $623,9l6 deficit
year ago, or an increase so far in
1899 Of $3,555 ,094.
The biggest actor in the improve
ment was gain of almost 100000
in freight revenues. At the same
time operating expenses were re-
duced by $574,565 Here, again,
passenger revenues were not up to
1888, the report disclosed
Exchange Elects New Member.
Thomas L. Anglin was elected to
membership in the Washington
Stock Exchange today following the
regular trading session. Mr.. Anglin
is connected with the investment
firm of w. W. Mackall & Co.. in the
Woodward Building, is native of
Biloxi, Miss. and graduate of the
University of Alabama
He is head of the trading de-
partment and has been connected
with the firm about three years.
William w. Mackall jr.. head of the
firm. is president of the Washing
ton Stock Exchange this year ard
was instrumental in obtaining the
seat for Mr.. Anglin.
Trading on the Washington eX-
change today included two $1,000
transfers in Capital Traction SIS at
Sc, up "a from the last previous sale.
Washington Railway & Electric
preferred figured in a small sale at
1922. off a from last weeks close.
Bank Presidents Optimistic.
Presidents Of the Nations leading
banks are more cheerful on the busi-
ness outlook than they were month
ago, according to Banking, official
organ of the American Bankers
Association. Business sentiment is
still predominently on the optimistic
side, the April review, out today,
asserts. Bankers as group seem
to be even more sanguine about the
outlook in their various commune
ties than the businessmen them
selves.
Banking's cross index of the gen.
eral trend of business, obtained from
a poll of 1850 bank directors and
bank presidents in all sections of
the country, reflects some improve
ment, with 80 per cent of those
polled indicating business was get
ting better, IS per cent finding con-
ditions about static and Is per cent
reporting a decline. The previous
months survey found the same
favorable percentage of 80, but with
38 per cent indicating unchanged
conditions and % per cent unfavor-
able conditions.
The survey this month considered
separately the reports of bank presi-
dents and found that they showed
a somewhat higher degree of enthu-
siasm about the future, with 48 per
cent reporting favorably, "A per cent
unchanged and per cent down.
"A reasonable expectation of profit
is what business needs at this stage
to permit further gains" the sur
vey says
Atwood Luncheon Speaker.
Richard w. GrisWold, president of
' the District Life Underwriters As
sociation, today predicted record
attendance at the monthly luncheon
tomorrow at the Willard Hotel, with
Albert w. Atwood as guest speaker
Mr.. Atwood will discuss Life Insur-
ance Meets Another Test He has
addressed many life insurance Or
ganizations all over the country.
Application to list North Ameri-
can Co. $20,OOO,OOO 3la per cent de-
bentures, series due 1949; $25,00O,0OO
31a per cent debentures, series due
1949; $25,000,000 4 per cent deben-
lures, series due 1859. and 696. $50
shares of preferred stock, 5ai per
cent series $3.50 par value), is pend
l,n
List of the New York Stock Ex-
change
Reorganization of the National
Mortgage & Investment Corp has as
yet made no change in the quota
\ tions for the preferred and common
Nstocks. At the end of the week the
pver- -the-counter quotations showed
"a bid for the preferred and $5
asked, and 80 cents bid for the COM
mon with none offered. The retir-
ing of 10000 shares of the preferred
should be beneficial to the remain
ing preferred and indirectly to the
common shares, in the opinion of
company officials.
Financial District Comment.
Approach of the American League
season finds Washington Base Ball
stock being quoted at As bid and
IS asked. So far as known, very
little of the stock is changing
hands at present.
There are 938 employees in the
Federal Deposit Insurance Corp, of
whom 410 workers are employed
locally, according to figures made
public by the Civil Service Com
mission.
Several Washington banks report
q modest increase in applications
for loans as result of the District
Bankers Associations newspaper
advertising campaign, started re-
Gently. No official survey to show
the exact situation has yet been
made.