Evening star., 1939-01-26

vances brought in S82,454, as COM
pared with S122,S24 in 1887.
Total net expense, the report
says, amounted to S1,68e,2l5,
against $1,729,772 a year ago, which
left current earnings of S226. 1877,
compared with S52O,212 in the
previous year Additions to current
net earnings, including profits on
sales of U. S. securities. totaled
$478,97l, compared with only S184,-
209 in 1887.
Total deductions from current
net earnings amounted to s5O4 .833.
against 1882 ,389. Dividends paid to
member banks totaled S297.7 1882,
against 1921 .234, requiring net de-
ouctlon from surplus account in
1888 of over $4,000 in comparison
with net addition to surplus ac-
count a year ago Of more than
$4,000, the report shows
B. & o. December Net Higher.
Net railway operating income of
the Baltimore & Ohio R. R. in De-
cember totaled s1,027, ,27l, compared
with S701976 in December, 1887.
gain of 81 ,037,695, it was reported
a. today.
Freight revenues totaled s10,3O3,-
800, an increase of s497,355 over
December a year ago. Passenger
revenues, however, of more than
81 100000, were about s81 900 under
the previous year.
The Baltimore & Ohio also re-
ported earnings for the full year
1888. showing a net railway oper-
ating income of s14851,794, COM
pared with s249O8 625 in the pre-
vlous year, decrease of S1O,O56,-
83l.
Freight revenues totaled Sl15.-
426,378, off s31. 1882 from 1887.
Passenger revenues amounted to
$1O,561 ,495, a decrease of S1,357,1O6.
Income from mail and express and
other operating revenues were also
lower than in 1887.
Railway operating expenses, how
ever, were kept we'll in hand, s1o4,-
9e4,02l showing reduction of
1875, ,495 from the previous year.
Storage Officers Reelected.
stockholders of the Security Stor-
age Co. reelected all directors at
the annual meeting as follows:
c. A. Aspinwall, William j..
Flather, jr., Chauncey G. Parker, lr -.
H. L. Rust, jr., Corcoran Thorn and
Lloyd B. Wilson.
The following officers were also
Reelected: c. A. AspinWall, presi-
dent; c. w. Pimper, vice president
and treasurer; Charles P. Raven
burg, secretary; Paul Alvey. assist
ant secretary, and Helen Howison,
assistant treasurer.
d. c. Store Collections Lag.
The Federal Reserve Bank of
Richmond reported today that of
the bills due Washington stores at
the beginning of December, 288
per cent were paid during the
month. This compares with 31.2
per cent for the whole fifth reserve
district, 33 per cent in Baltimore
and IS per cent in Richmond.
During the full year 1888 stocks
OF goods in Washington department
stores were turned ATS times. in
the whole district 4,363 times. in
Baltimore 4204 times and in Rich
mond 4244 times.
Stocks on hand at the end of
December were fractionally higher
than on the same date in the previ-
Gus year but % per cent lower than
at the end of November, the report
for Washington disclosed
December trade in the Capital
was "a per cent ahead of December,
1887 and 0.9 per cent lower for the
full year.
Business Outlook Cheerfuk
A general optimistic outlook for
business and recovery is reported
in the monthly survey of condition
of business in the February issue of
Banking, official publication of the
American Bankers Association.
The advance of recovery from the
stagnation of last summer has been
uninterrupted, the report states
Wholesale markets reflect buying for
spring at volume well in excess of
last year. All recent national meet
inss Of retailers, wholesalers and
business people generally have re-
f1ected an optimistic outlook. Most
OF the forecasting is cautious, but
agrees that the direction is up.
The survey credits construction
awards as being chiefly responsible
for the high point being reached by
most indexes. In the march toward
recovery the building industry con-
trn1 ,,z
1t says.
Banking's cross section index of
business, obtained from poll of
$500 bank directors and business
men in all sections of the country
and in leading lines of activity, re-
fleets an improvement for the fourth
time in year.
Heard in Financial District.
The recently declared dividend of
81 per share on Lanston Monotype
CO. stock will be paid on February
"a to stockholders of record Febru-
airy IA.
Directors of the International
Business Machines Corp. have de-
clared regular quarterly dividend
of s150 share, payable April 10 to
holders of record April l.
The Merchants and Farmers Bank
Portsmouth, Va, has been admitted
to membership in the Federal Re-
serve System, the Richmond Re-
serve Bank reports.
John w. Hanes, Undersecretary
of the Treasury, said in an address
at Winston-S Salem that from now on
"the full energies of Government
will be applied to invigoration of
the processes of recovery"
An $4,000 of Prince Georges
County, Md. public works bonds was
awarded to John Nuveen & Co.. Chi
cago. who bid Al for the twos
Bonds mature from 1910 to 1948
The North American Co. reports
output of subsidiaries so far this
wear has heen 7 nor rent ahead of the