Evening star. [volume] (Washington, D.C.) 1854-1972, 1941-01-27

an extensive addition was built in
1927.
Ord Preston became the Union
Trust Co.'S president in 1882, sue
ceeding Mr.. Stellwagen During the
past four decades the company has
shown healthy and substantial
growth. total deposits on December
81 standing at s14389 1874
OF the present officials. George E
Hamilton, vice president, attorney
and trust officer; George E. Flem-
ing. vice president and assistant
trust officer, and Edward L. Hillyer
vice president and assistant trust
oficer. were with the company on
the day it opened 40 years ago.
Business Still Expanding.
Banking's cross index of business
opinion, obtained by poll of bank
directors and presidents throughout
the country. shows that business
activity is still improving upon the
levels it has attained in the past
few months.
OF the bank officers polled 81 per
cent said that the volume OF bust
ness activity Is increasing, 81 per
cent reported activity maintained,
end per cent reported a decline.
The month before, so per cent said
that the direction was up, 81 per
cent reported business was holding
It's own. and per cent reported an
unfavorable trend.
Trade Outlook Called Bright.
Department stores conclude their
fiscal year this month. Most of
them are expected, comments the
Wall Street Journal. to show graft
flying improvement over the previous
period. January has been the best
for this month in long while, and
this will round out the year in a
strong manner for many companies.
Last week department store sales
were per cent above the same
period of 1910. Volume for the
past four weeks was 81 per cent
above 1910. Merchants are gener-
ally optimistic over the outlook and
expect 194l figures to show con-
sistent gains over 1910.
Statistics show that the biggest
Improvement was in the districts
which cover activity growing out of
national defense. In some centers
merchants are doing the largest
business since 1929, and few report
the biggest volume in their history.
B. L. O. Earnings Higher.
Net railway opera ting income OF
the Baltimore & Ohio r. R. for De-
cember, reported today, totaled 81
s16.75l, against s1,475.120 year
ago. an increase of $1,34l .63l. A
gain in freight revenue of s1,136,4 46
stood out in the report. Operating
expenses were up S64,35l.
The B. e. o. report for the full
wear 1910 disclosed net railway
opera ting income of $30,6lS,531, COM
pared with S25 ,525, 100 in 1899, an
improvement of S5,093,4 31.
Freight revenues totaled $l58,l06,-
s3s, a Jump of Sl7.650.9l0 over the
previous year. Passenger and ex-
press revenues were lower, but mail
and other operating revenues
showed advances.
Railway operating expenses
reached $l32 ,6O0,799, an increase of
$12.699724 during the year, the re-
port stated.
Financial District Comment.
Treasury officials announce that
the recent $500, 900 900 offering of ;.
per cent defense notes will be al
lotted on q per cent basis. The
issue was oversubscribed about four
and-one- times.
The Federal Fireside. published by
the First Federal Savings & Loan
Association, and devoted to home in
terests, appeared in the financial
district today.
Investment bankers here are very
much interested in the hearings at
the Securities and Exchange Com
mission on compulsory competitive
bidding. Most Washington invest
ment dealers are opposed to the plan.
Many Washington brokers believe
the New York stock market should
have spring rally" because of the
present industrial boom. However,
the present contracted trading
makes them very cautious in making
forecasts.
Today's Trading on Exchange.
Thirty shares of Washington Gas
Light preferred stock sold at 107 on
the Washington Exchange today, up
half a point and a new 194l high.
Capital Transit stock appeared on
the board in a 58-share sale at Is, of
Il from the last transfer.
American Fire Insurance has been
added to the list q stocks now
nuoted ev-Siyi6end