Evening star., 1942-11-19


Seventeen Glass l railroads, repre-
senting 81 per cent of total operat-
ing revenues in the southern district
and estimated operating revenues in
October of $66,876,724, compared
with $43, 1886 1888 in October, 1941, or
an increase of So per cent. the As
sociation of American Railroads
announced today.
Freight revenues of these railroads
in October, amounted to $50 ,709 ,056
compared with $37 7,457 492 in Octo-
ber, 194l, or an increase of 40.7 per
cent.
Passenger revenues of the same
roads in October. totaled S10,782, 1855,
compared with s3.906,l36 in Octo-
Der, 1s41, or an increase of l76 per
cent.
Bank Deposits Still Growing.
Bank deposits have continued to
increase at a rapid rate as the Gov
ernment has sold securities to banks
and spent the proceeds, the Novem-
Der Federal Reserve bulletin states.
1t is estimated that in the third
quarter total deposits in all banks
in the country increased by about
0O,0O0,000, This growth in de-
posts has been Nationwide, with
relative large increases in the rural,
as we'll as in urban communities.
Banks in New York City showed
much small increases than those
in other places during October.
The same review says that COM
mercial loans inreased by $50, 900 900,
reversing a doWntrend prevailing
since last March,
Assets at Seven-Year Peak.
Building and loan association as
sets for the Nation reached $6053,
345,616, highest point in seven
years, and a gain of s258,8l5, ,766,
last year, according to report made
at the war conference of the
United States Savings and Loan
League in Chicago this week.
Wilfred H. Blanz, president of the
District Building and Loan League,
Just returned, stated that the same
report showed a total membership
of 6,9788,057 in the same institu-
tions at the end of 1941. There are
7207 institutions now in operation
Ohio continued as the Nation S
leading building and loan State,
with Massachusetts, second. Other
facts, made public for the first time,
showed a gain of 8.5 per cent in
mortgage loan investments last year.
The year l941 was the best of the
past IL for these institutions, Mr.
Blanz said today.
Pepco Earnings Reported.
Net earnings of the Potomac Elec-
trio Power Co. for the IL months
ended September 30 amounted to
1896 ,287 against $4,013844 in the
preceding II months, company Off
Gals report.
Earnings of the Chesapeake &
Ohio Railroad in the first 10 months
of this year were equal to $3l5 a
share against S420 a share in the
like period year ago
Thomas j. Groom, president of
the Bank of Commerce & Savings,
"lu NC JAIN AL VIC lllldlISlol uloli lSl
next week after attending school
at Fort LeavenWorth devoted to the
most important phases of the pres
ent war effort.
r. B. Swope, president of the
Southern Oxygen Co. Arlington.
has been named to the board of di-
rectors of the International Acety-
lene Association, it was announced
today.
Liberty National Stock Up.
Twenty shares of Liberty National
Bank stock sold on the Washington
Stock Exchange today at ITS, a
gain of Az points since the last
previous sale.
Riggs National Bank common
stock appeared on the board again
today at 247t., off !. from yester-
days sales.
Washington Gas Light common
was firm, so shares changing hands
at Is, unchanged.
In the bond division, Capital
Traction IS came out at 1885,, un-
changed from sales earlier in the
week.
Federal Economy Urged.
In resolutions adopted at the close
of their war conference on hous-
ing and saving in Chicago. the
United States Savings and Loan
League petitioned members of Con-
gress and the Government "to prac-
tise and effect economy in Govern
ment."
Bank Assets Holding Up.
Controller Preston Delano said
yesterday that all banks in the
United States, numbering l4,815,
had total assets of S92.259 100000 on
June 80, against SOL ,453, 600 900 at
the close of l941. Loans on June 30
totaled s25, ,17s, ,000, 900. only slightly
less than year ago.