Evening star., 1940-11-26
October Net Income
Well Below 1899,
B. & 0. Reports
Ten-Month Earnings
Show Gain Over
Yeor Ago, However
BY EDWARD C. STONE.

Net railway operating income Ol
the Baltimore & Ohio Railroad in
October amounted to $3,428. .497,
against S4,037,775 in october, 1889,
decrease of $611 258, i6 was an
nounced today.
Net operating earnings in the first
10 months of 1910, however, totaling
s24,480,31O, compared with 20626.-
698, showed gain over last year OF
$3,853,612.
The October decrease was caused
by a drop of s7o7,269 in freight rev.
enues. s14,742,784 comparing with
l5,450,053 a year ago. Passenger
revenues revealed an advance Of
$93957.s Income from carrying mail
was also up $53,440. Net operating
expenses ran about $4,000 ahead of
last year.
In the 10-month period freight
revenues totaled S130 ,345 ,282, against
$113113,833 a year ago, notable
gain of $l7,231, ,449 Operating ex-
penses climbed to $109, 9,610,880, being
$12995 ,668 higher than year ago.
Maintenance of way and struc-
lures required more than in 1888,
S2,O44,107; maintenance OF equip
ment, $5,546,174 more, and trans
portation costs were up S4,776,512,
the report disclosed.
Bank Assets Sale Announced.
John F. Moran, receiver OF the
North Capitol Savings Bank, an
nounces that all remaining assets
will be sold TO the highest bidder
or bidders at Room 222, Riggs
National Bank Building, Four
teenth street and Park road, on
December IL at pm.
A descriptive list of the assets
to be placed on public sale may
be seen by prospective purchasers
at the receivers office after Monday,
December 2, between 9 and 5, up
to the date of the sale.
The assets are. to be sold Tor
cash, subject to approval by the
Comptroller of the Currency, and
subject to court confirmation, Re
ceiver Moran announces.
Growth Stocks" Popular.
Modern securities dealers are rap
Idly evolving new selling technique
and philosophy, Floyd D. Cert, Chi
cago investment banker, says in
booklet distributed to dealers here.
He bases his conclusions on
trip recently completed, when he
talked with scores of dealers IN
securities.
Today the securities dealer has
adjusted himself to new world
in which neither he nor his GUS
toners view a security as tenn
porary trading vehicle likely to
produce an enormous gain in points
within a few months, he says.
Securities dealers today are con-
centrating upon estate-building for
their clients, the investment banker
adds. They are recommending the
purchase of income-bearing growth
stocks"
Another Bank Joins Reserve.
The long list of Virginia banks re-
Gently joining the Federal Reserve
System has been further expanded,
Hugh Leach, president of the Federal
Reserve Bank of Richmond, an
nouncing today that the State Bank
of Remington, Remington, Va, has
been admitted to membership.
Building permits in fifth district
cities in october were IS per cent
lower than last year, the Richmond
Bank reported. For 10 months the
cumulative totals are slightly higher
this year.
While new work in the cities drop
ped off, construction awards in the
district for October will almost dou-
BILE those of the previous year due
to contracts for contonments and
other housing projects not within
municipal reporting limits.
The building figures for cities were
S11,902 SAB against $13,973,225.
S6,O62 900 Insurance Paid.
The families and other beneflci-
aries of District of Columbia policy
holders received an aggregate of
$6,062,0O0 from life insurance COM
panies in settlement of death claims
during the first nine months OF 1910,
it was announced today by the In
stitute of Life Insurance.
"The importance of the economic
and social contribution of life in
surance to this district is indicated
by the fact that the funds flowing
into bereaved homes so far this year
have averaged $673,555 per month" :"
Holgar j. johnson, president of the
institute, stated in announcing the
figures.
Of the death claim benefit pay
ments made in this district this
year up to September 30, S4,l46,00O
was paid out on ordinary policies,
$92O,OOO on group policies and $685.
600 on industrial policies.
Business Gains Nation Wide.
Banking's index of the general
trend of business, obtained from a
poll of 2,700 bank directors and bank
presidents in all parts of the coun-
try, shows business continuing at
very high levels in all fields and all
over the country.
Sixty-nine per cent of those polled
for the purpose of this summary
said that the volume of activity is
increasing, Is per cent reported ac-
tivity maintained and per cent
reported a decline. The month be-
fore, the figures were the same, as
well as the composite cross index
figure, which stands at 90.
THE best bulwark against any
inf1ationary development at the mo-
ment is the customary level-headed-
ness of American business and a
widespread desire to cooperate VOL
unfairly in every effort to advance
the defense program the survey
says. The second safeguard sis the
dominant position of the Govern
ment itself as buyer and stabilizer
of prices.
Coupled with this is the fact that
our trade with the fighting coun-