Evening star., 1940-09-26
Baltimore & Ohio
And Pennsylvania
Report tNetG Gains
August and 8-Month
Operating Incomes
Exceed 1899 Returns
By EDWARD c. STONE.

BY EDWARD c. STONE.
Two important railroads-Balti-
more g. Ohio and the Pennsylvania
today reported substantial gains
in August operating incomes.
Net railway operating income of
the Baltimore & Ohio amounted to
S3,326,3l9, compared with S2,770,004
in August, 1889, an increase Of
S5563l5.
Freight revenues OF s14,423, 1853
were up S2173241, but operating
expenses were $l,656,232 higher than
year ago.
Net railway operating income in
the first eight months of 1910 to-
tailed sl7,9ll,613 against Sl2,746, ,063
In August, 1889. gain of s5,l65,5 $50,
today's report said.
Pennsy Reports S753,843 Gain.
The Pennsylvania Railroad re-
ported net operating income of
$7,538,664 in August this year, an
increase of S753843 over the cor
responding month year ago.
Freight revenues totaled S32 ,579 .936,
an upturn of S5,95l 900 over August
last year.
Here, too, operating expenses were
higher, amounting to S29 ,597 ,239,
which was 81 1858 ,329 more than in
August, 1889. Railway taxes were
1922 ITS more than last year. almost
as much as the net gain in income.
Net railway operating income in
the first eight months of 1910 to-
tailed S48 8,059619, an increase so far
this year of s8946,5 $50. the report
disclosed.
Safe Deposit Leaders Named.
At the first fall meeting of the
safe deposit section of the District
Bankers Association. Miss Eva
Kicker of the Farmers and Me-
chanics Branch, Riggs National
Bank, chairman of the section. an
nounced the following committee
appointments:
Standardized Safe Deposit Forms |
Albert E. Fisher, chairman. Riggs
National: Mrs. Mabel Davis. Airing
ton Trust Co; G. Crawford Turn !
bull, Morris Plan Bank; Charles w |
Haas, Union Trust Co.; Mrs. GLADYS |
Morris, Bank of Commerce & Saw
ings
Standardized Safe Deposit Prac-
tices - Miss Elizabeth Churchill,
chairman. Union Trust Co.: Earle
F. Turner. National Bank of Wash
ington; Mrs, Mary F. Scheuch,
Hamilton National; c. c. Boswell, |
American Security & Trust Co.; !
Charles K. West Security Savings e.
Commercial.
Publicity and Education-Richard f.
E. Harris, chairman, American Sc
curity g. Trust Co.; Mrs. Margaret !
Fischer, Hamilton National: Will
liam Curtis Cooper, Liberty National.
Program-William Mcclure, chair
man, McLachlen Bank: Hans w.
Ireland. American Security & Trust
Co.. Florence Warner, Riggs Ma
tional; T. Eugene Elgin, City Bank;
Miss Kathryn Fout, Hamilton Ma
tional
Commerce Directors Reelected.
Stockholders Of the Bank of Com
merce & Savings held their annual |
meeting in Alexandria today the
SoAAONiAiS oiANSlOIo . OOAIlS lC-ClCIlCu.
William L. Bush, E. T. Chewing,
James E. Colliflower, A. E. Geigen-
gack, Thomas J. Groom. Frank ,
Owings, George M. Quirk. NJ. D. !
Rosenberg and Joseph Sanders.
President Rosenberg informed the
stockholders that the bank had en-
joyed most satisfactory year from |
the standpoint of both earnings and |
growth in deposits. He cited the
expansion in the banks loan volume
as particularly favorable
The meeting was held this fore
noon, the officers to be elected later
IN the day.
Simpler Trust Laws Urged.
Simplification Of trust laws was
urged and the progress made in va
rious States reviewed by Louis S.
Headley of Minneapolis, in an ad-
dress last evening before the Fiduc-
laries Section of the District Bankers
Association at the Mayflower Hotel.
Mr.. Headley is one of the country's
leading trust authorities. He came
here to address the Washington
bankers while attending the A. B. A.
Convention at Atlantic City.
Harold A KertZ. assistant trust
officer of the National Metropolitan
Bank, the new section chairman,
presided at the meeting The initial
fall session started off with a large
attendance.
Institute Faculty Listed.
Eight courses will be offered by
Washington Chapter, American In
stitute of Banking, for the first half
year, in charge of the following
members of the faculty:
Investment I. James c. Dulin, jr.;
economics II. Norman E. Towson:
business English, Gardner P. H.
Foley; analyzing financial state
mentS, James Daniel Cushman;
law II Wilbur NJ. Baughman: bank
ing I, Eliot H. Thomson; accounting,
D. L. Mitchell. and public speaking,
Elmer Louis Kayser.
Enrollments to date indicate an
extra large attendance this fall. All
classes will meet at institute head
quarters in the American Security
Building.
Financial District Comment.
From Atlantic City comes word
that Robert " Fleming. president
of the Riggs National Bank, is rated
as one of the leading contenders for
the ex-A. B. A. Presidents Gold Cup.
The Norfolk & Western Ry earned |
Sl432 a share on the common stock
in the first eight months of 1910.
against S972 a share in the like
1899 period.
Frank NJ. lotion, vice president
of the Chase National Bank, and |
Robert E. Wood, chairman of the
board of Sears, Roebuck g. Co., are
to address the Mortgage Bankers
Convention in Chicago. October pa. !
The Washington Loan g. Trust !