Evening star., 1943-04-05
Southern Railroads
Report Sharp Gains
In Net Earnings
Two Months Income
And February Total
Far Ahead of 1912
By EDWARD c, STONE.

BY EDWARD c. STONE.
Continuing the sensational gain:
OF many months, Glass I railroads
in the Southern District in the first
two months of 1943 had an esti-
mated net income, after interest
and rentals, of $25 900, 900, compared
with $12,145,8 ,806 in the like 194s
period, it was announced today.
The same roads had a net railway
operating income, before interest
and rentals, of $36, ,798,196, compared
with S22, TAB, 500 in the same months
in 1912.
Operating revenues of the Glass ]
railroads in the Southern District
totaled $205, 1876, an increase of
81 per cent compared with the like
period in 1912. while operating ex-
penses increased 25 per cent to
s115,243,722.
In February alone, these roads
had a net income of s12y600,000
compared with S5,854,969 in Feb
ruary, 1912 Operating income
amounted to $18566,605. against
$11,745,8l5 year ago, the report
stated.
Controllers to Hear Experts.
Stanley S. Surrey. tax legislative
counsel of the Treasury Depart
ment, will be among the leading
speakers at the third war conference
of the Controllers Institute of
America, which meets in Phila-
delphia, April II and IL, the pro-
gram, out today, reveals. He will
speak on Withholding of Funds for
Taxes From Wages and Salaries. -
Rear Admiral w. B. Young, pay
master general of the Navy, will
speak on Navy Supply Problems y
Another of many speakers will be
DR.. E. M. Patterson, Wharton
School of Finance, who will discuss
Postwar Planning for Industry"
Many Washington members of
the institute are expecting to at
tend the two-day session.
Haines Opens Mortgage Office.
Horace c. Haines, former assistant
national bank examiner and later
with the Federal Housing Admin
istration as a mortgage examiner,
has been appointed Eastern repre-
sentative of Amortized Mortgages,
Inc, of Milwaukee, with Offices at
1121 Vermont avenue. The firm dis
tributes FILA insured mortgages.
For several years Mr. Haines was
with Washington investment firms.
A native of this city, he attended
Dewitt School, George Washington
University and the graduate school
of banking at Rutgers. He was with
the Riggs National Bank 1918
through 1927. He left the FILA at
the end of February to take up his
new work. The FILA official organ
recently published an article by MI.
Haines on "Servicing Problems of
Mortgages"
Beatrice Jones to Speak.
For the first time in the history
of the District Life Underwriters
Association, woman will be the
guest speaker at monthly lunch
con meeting.
Miss Beatrice Jones of New York,
agency assistant in the home Office
of the Guardian Life Insurance Co.,
has been asked to address the May
meeting. For many years she was
a life insurance salesman with the
Equitable.
Miss Jones is the only woman
ever to be president of the New
York Life Underwriters Association,
having Just retired from that posi-
ton She is heralded as a most
capable speaker by George A..
Hates. president Of the Washing
ton association, who predicts rec
ord attendance of male members.
Loan Leaders Pushing Bonds.
Clarence E. Kefauver, executive
vice president of the Columbia Fed
eral Savings & Loan Association,
will attend a special meeting of the
Federal Section Committee of the
United States Savings and Loan
League in Chicago tomorrow and
Wednesday to consider responsible
tiles which the April Victory finance
drive and other war developments
have placed on the saving and loan
institutions Consideration of leg
islative proposals to implement
postwar housing by private enter
prise will also be on the docket.
Mr.. Kefauver stated that building
and loan associations are pledged tC
invest minimum of $500, ,000,0 900 IN
Government securities for their own
PORTFOLIOS this year and are selling
s35 100000 in War bonds to the pub
lice every month.
More Title 1 Loans Forecast.
Federal Housing Commissioner
Abner H. Ferguson today predicted
substantial increase in Title
loans as a result of recent amend
ments extending the law from july
l. l943. to July /, 1914. These loans
NAV be made up to $500.
Title l loans cover repairs and
alterations to property and include
improvements, as well as changes IN
heating plants to conserve fuel
Washington banks have granted a
large number of loans under Title
regulations and expect to make
many more in the next IL months
The materials situation largely con-
trolls this type of work.
Steamboat Stock Strong.
Norfolk & Washington Steam
boat stock figured in small sale
on the Washington Stock Exchange
today at 100, new high mark anc
up full points from the las1
transfer.
Capital Traction SIS we're in de-
nand, four $1,000 transfers taking
place at 1861. up Il. Potomac
Electric Power SD per cent pre-
ferred moved at 116. the previous
1943 high.
Mergenthaler Linotype appeared
on the board at AZ, off half point
A small sale of Capital TRANSIT
took place at 3lls. also off. Trading
was the heaviest in many sessions
Financial District Comment.
The financial district sent a recort