Evening star., 1941-11-26
Pennsy Reports Lag
In Net Despite
Freight Gains
$7,6l9,983 in October
S905, DAB Below Same
1910 Month
By EDWARD c. STONE.

which amounted to S7,6l9, 1888,
showed a decrease of S905 ,O43 from
the total of SS,525,O26 ii october OF
last year, it was announced mere
today.
Net railway operating income IN
the first 10 months of this year.
however, which reached S79,0O5,6 ,627,
was S1O,729 AGO ahead OF last year
the report revealed. The total a
year ago was $68.276,167.
In October freight revenues to-
tailed 47,67O,654. up sl2,025 ,538, ana
passenger earnings amounted 10
S736S,454. a gain of Sl,l73,776, Mall,
express and other revenues were also
higher than a year ago.
Higher operating expenses ana
taxes caused the decrease over last
wear. Operating expenses totaleo
s43,21o.929. or S1O734,4l2 more than
in October, 1910. leaving net reve-
nues from operations of Sl6,594.457,
an increase of S2,667 ,844. At the
same time railway taxes amounted
to $4,000. 1854, up S2,460, ,4S0. Unem-
ployment insurance taxes and fall-
road retirement taxes were also
higher.
The report for 10 months revealed
a gain in freight revenues OF ss4,-
CTS, 1886. Passenger revenues were
sl3l92 46O ahead of last year.
Mail. express and other revenues
showed larger returns, the total
gain being Sl12,721,766. However, a
heavy increase of S62 ,l00.0 .024 in rail-
vav operating expenses cut severely
into this return. Railway taxes
also called for S19,006,50l more than
last wear, and other tax items were
higher.
Exchange Trading Lively.
Mergentraler Linotype was
stronger OH the Washington Stock
Exchange TODAY. After eight shares
sold at 81, two 50-share lots moved
at 27l2. up ?, from the last sale
last week. The stock closed WIN
q bid and 28 asked.
Garfnckel common appeared on
the board, 20 shares selling at ii,
unchanged. Washington Gas COM
mon sold TO the extent OF 70 shares
at 17A. Gas preferred registered
a tiny sale at lo2.
CAPITAL Traction SIS came out on,
two $1,000 transfers at 1O5, un-
changed from several other recent
sales.
CAPITAL Transit stock sold in 80
and 68-share lots at l5ls, of an
eighth from yesterdays sale OF lO0
shares.
Cost Accountants Confer.
Washington. Baltimore and Rich
mond Chapters, National Association
of Cost Accountants. are holding a
ioint conference in Richmond today,
Harry E. Howell, national president,
and other officers attending. Forum
discussions this evening will cover
Depreciation and Federal Income
Taxes"
The Washington Chapters officer
and director delegates include
James B. May, controller, Southern
Diaries; Thomas w. Howard, United
States Chamber Of Commerce; w. l.
Slattery, controller, Post Oftlce De-
partment: John L. Mitchell. Shan
non & Luchs Realty Co.; Laurence
E. Skees, Federal Reserve Board: o
D. Crockett. controller, Judd d Det-
weller, Inc: John j. Macdonough
Walcott- Taylor Co., Inc. and Vernon
Hill, controller, Barber & Ross
Southern's Earnings Soar.
The Southern Railway reports fol
10 months ended October 81 net in
rome of sl4.63O.552 after taxes ano
charges, equal after dividend re-
ollirements on 100000 shares OF pei
cent tnon-cumulative preferred stock
to 1894 share on the common
stock, against $3.50 009, or 80 cents
on the common IN the first II
months OF l94O.
The extra dividend of IS on Nor
folk & Western Railway common
stock, voted yesterday, brings pay
ments in 1941 to SIS, same as PAID II
ia4n. A similar extra was voted a
this time last year.
The North American Co, has de-
clared a dividend on the common
stock, PAYABLE December 30, IL
Detroit Edison stock, one share 10
each so shares held of North Amerl
can. same rate as in July ant
October.
Good Yields on Stocks.
The New York Stock Exchange
MAGAZINE in the November lSsu'
points to Yields of 6, and 8 PEI
cent on listed stocks during the las
10 years. In a list of 269 issues L
are now yielding 4 per cent, 81 be
tween and per cent, 35 between
2 and 9 per cent and 10 more thai
IL per cent.
The stocks are not named, bu
the list was made up to show tina
there are good yields on many is
sues. All of the issues paid dlvl
dends continuously during the de
preston. Concern over the futur
course Of profits is mounting. bu
the magazine adds that it stand
TO reason that many of these stock
will not permanently remain in a
unfavorable position due to IN
creased taxes.
The 269 stocks show currer
WELD of 60 per cent on the baS
of market prices as of November l
the survey says, to which stateme1
is added the comment that the Ne
York Stock Market is turning mo-
and more to investment as again
speculation.
Heard in Financial District.
A booklet entitled "If You Pie
To Build or Buy a Home" being di
tributed by the Columbia FEEDER
Savings and Loan Association, Civ
many hints to small home seeke
on ways of protecting their lnves
ments, which often represent I
savings of a lifetime. The cla'
also is made that long-term loa
make it possible for buyers to p
for new homes as economically
they can pay rent.
Walter E. Trent, Washington eco
onnist and director of the Roc
Mountain Metals Foundation,
Gently addressed the Sales EXecut
Club of New York at the Ho
Roosevelt on Control OF Prices.
Paul V. Louden, Minneapolis
looIor RING hpfI