Evening star., 1941-08-26
Baltimore & Ohio
Reports Ju|yNet
Far Above 1910
Income Of S4,833,3 304
More Than Double
$2,20o. 1872 Yeor Ago
BY EDWARD c. STONE.

July scored another sensational gain
over the corresponding month /;
year ago, it was announced today
Net was more than double the tota
for July, 1910
Net operating income in July
amounted to S4,833,3O4 compared
with $4,000, 1872 in the same month
last year, or an increase of $2,624,
1f2. the report revealed.
Freight revenues made an extra
fine showing, S17,703,133, as COM
pared with s13.535, ,402. piling up q
gain of s4,167,731. Passenger reve-
nues also moved upward to 81 ,260,
512, disclosing an increase of $319,-
s55 over July year ago.
Mail revenues were up slO,5S9, ex-
press brought in S17,679 more than
a year ago, and all other operating
revenues were S126,200 better than
in July. 1940 At the same time
operating expenses continued to
climb. running $1,757 ,965 more than
year ago.
The B. & o. report for the first
seven months of this year, also out
today, disclosed most gratifying i'm
provement, net railway operating
income reaching $27,088,347, against
$l4,585, ,294 in 1910. an increase of
$12,503,053. The figure includes an
increase of $23,009,13l in freight and
S2,032 1895 in passenger revenues.
De- Pennsy's Income Also Rises.
Net railway operating income of
the Pennsylvania Railroad also
showed a substantial gain in July,
the total of s9,732,112 revealing an
increase of $2,704,702 over July a
year ago.
Freight revenues totaled S43,683,-
7b9, an increase of $12.106.775. Pas
senger revenues were $1,627,950 over
last year, mail revenues were 500,
better and express s85,1l5 higher.
Other revenues were up S45l ,599.
Railway operating expenses to-
tailed s3e,o73,173 in July, which was
Si0,113,959 more than last year.
Maintenance of way and equipment
snd transportation costs were much
heavier than in the same month in
&14o.
.sNet railway operating income in
the seven months totaled $50 ,203, 800,
IN increase of $8,871,115 over the
Arst seven months of 1910. Expenses
rere up $50 900, 900, but freight reve-
nues alone showed improvement of
$59, 100000, the report said.
g. Bankers Facing Hard Task.
tHugh Leach, president of the Fed
Sfal Reserve Bank of Richmond,
las forwarded to all banks in WASH
b1gton instructions for preparation
Of the reports on form TFR-300 on
all foreign owned property subject
to the jurisdiction of the United
States, which have been requested
by the Treasury.
Bank officials and others con-
cerned in the reports are expressing
amazement over the amount of in
formation desired. This census OF
foreign property is placing far more
work on bank officials than they
had supposed it would.
While complying with these prop
erty information requests, the banks
have also been asked for important
information on foreign funds con-
troll. This information is considered
Of vital importance to the economic
and financial side of national de-
fense.
Sharp Building Gains Noted.
Reviewing July building activity
in the Washington Metropolitan
Area. H. A. Johns, manager of Dodge
Reports, announced today that con-
tracts awarded in July for all types
of construction were valued at Sl6,-
500 1000. This was SO per cent rise
over So, $4,000, the total in July, 1910.
In July, 1899, the value of contracts
was S9,008,000.
A classification of July contracts
revealed that residential building
had the highest dollar volume, So
614OOO, including a 81 per cent in
crease over S. 5996,000 the total for
the same month of last year.
Non-residential building followed
with awarded contracts amounting
to s5.644 900 in July, noteworthy
rise of 62 per cent over the CORE
sponding month of 1910 when the
total was 3,474,000.
Contracts awarded for engineering
In Washington in July made 20l
per cent advance to 81 1,332,00 from
$3.50. 900, the record in July OF the
previous year.
Mr.. Johns reported that sl0,336 900
of July's construction was privately
owned while contracts awarded for
publicly owned work amounted to
s6,254,0000. Privately owned work
gained % per cent over S8085, 900,
last years July total.
A 26l per cent rise was noted IN
publicly-owned work. These con-
tracts rose from S1,735 900, the record
in July, 1940
Brokers Mourn Bill Eberly.
Many New York Stock Exchange
brokers in the financial district at
tended the funeral yesterday after
noon at the Lee funeral parlors OF
William S. Eberly, who died Satur-
day. aged Al years.
Mr.. Eberly had been customers
man with Fenner e. Beane for about
II years and had a very wide circle
of business acquaintances and many
close friends. At the time of the
Wall Street boom he was employed
by w, B. Hibbs & Co. and before
Joining Fenner & Beane had worked
for other brokerage houses here.
Mr. Eberly had been in poor health
for some time.
Garfinckel Dividends Voted.
Directors of Julius Garflnckel &
Co., Inc, meeting yesterday, de-
clared the regular quarterly divi-
dend of 37l2 cents a share on the
company's preferred stock, payable
September 80 to stockholders of
record September Is.
The directors also declared the
regular quarterly dividend of 17ia
cents per share on the common
stock, also payable September 80 to
stock of record September Is, it was