Evening star., 1943-11-04
Talbot Named New Director.


Talbot Named New Director.
Philip NJ Talbot. vice preSlden
and secretary Of Woodward & 10th.
rop. Inc, Washington department
store. was elected director of the
Washington Loan & Trust Co. a
the monthly meeting of the board
Harry G Meem, president, an
nounced TODAY.
MI Talbot succeeds the late
Arthur Peter. who had been a dncC-
tor and general counsel Of the trust
company for many years. He wa
also chairman of the board
The new director. Nj. Talbot, l.
a director al large of The NatIona
Retail Dry Goods Association and 4
member of the Washington BOarC
of Trade, United States Chamber
of Commerce, Washington Rotary
Club and the American Legion.
Southern Rail Incomes Lower.
Glass l railroads IN the Southern
region in the nine months OF this
year had an estimated net income,
after interest and rentals, Of Sl08,-
100000 compared with Slll,086 1928
In the same period last year
These same roads had a net rail-
way operating income, before III
tereSt and rentals, of Sl57022 ,364
compared with sl44492 ,535 in 1912
Operating revenues tOtaled S967,-
49l.l70, an increase Of 296 per cent
y NJ
1912, while operating expenses to-
tailed s547 ,582 681, an increase OF %
per cent.
These railroads IN September
alone had an estimated net income,
after interest and rentals. of So
500 600 compared with Sl5.698, ,963
September. 1912 Net railway Oper-
atIng income, before interest and
rentals. III September amounted 10
S15341. .282. compared with S20068 =
296 in September, 1912
D. c. Men at Convention.
Among Washington members Ct
the Investment Bankers Association
now attending the 32d annual con-
vention in New York are John Gilt
ford Folger and James Parker
Nolan OF Folger. Nolan & Co;
James NJ Johnston and James H
Lemon Of Johnston. Lemon & Co.
Richard P Dunn, partner IN Auch-
inClOSs, Parker & Rcdpath. T
Baker Robinson OF Robinson. ROM
baugh & LukenS, Y. f, Booker and
Mylcs II. Quail o. Alexander Brown
& Sons.
Ord Preston president OF tn
Union Trust Co.. Is having yl~I'
from his son. Arthur Murray Pres
ton, now a lieutenant in the Navy.
who i on short leave In civilian
life ne IS a lawyer and dlTeCtU.
Of the trust company.
Bankers Oppose Name Changes.
Bruce Baird. president OF the Ma
tiOnal Savings & Trust Co, has been
appointed by A. Scott Offutt. preSi-
dent Of the District Bankers AsSo-
citation, chairman of special COM
mittee to enter the association 5
opposition to the proposal to change
the names of Fifteenth and Scy-
enteenth streets NV. south Oi K
street. to Vermont avenue and Con-
reCtiCut avenue. reSDeCtNCly.
Other members Of the committee
include Corcoran Thom. president
of the American Security & Trust
Co; Robert V. Fleming president,
Ri2gS NATIONAL Ord Preston. preSi-
dent, Union Trust, c, F. Jacobsen,
president, National Metropolitan:
M F. Calnan, president. Liberty
National; Richard A. Norris, exec
utive vice president, Lincoln Ma
tional, and Charles H, Doing, vice
president, Washington Loan &.
Trust Co, and manager Of the West
End Branch.
Opposition of the bankers has
been presented to the Board OF
Trade Many property owners are
especially opposed to the Fifteenth
street change
MergenthaIer Output Scars.
J. T. MaCkay, president of the
Mergenthaler Linotype Co. reports
that production in the fiscal year
ended September 30 exceeded by aD-
proXimately 100 per cent that Of any
other year.
The Government and the COM
pany have concluded renegotiation
proceedings for the fiscal period OF
1912, and as a result the company
has refunded to the Government
81 1856 900. less tax remitted of SAB
875 making the net amount refunded
S89l,l24 Despite this adjustment
the net gain reported for the year
1912 remains unchanged.
During the fiscal year of l943
without prejudice to final renegotia-
tlons between the company and the
Government. we made an adjust
ment Of our contract prices for GER
tain items, and as a result refunded
to the Government S3243 058.
InstaIlment Accounts Steady.
The Federal Reserve Board re-
ports that installment accounts al
department stores at the end ot
September We're unchanged from
the August level. continuing about
three-fifthS of the amount out
standing a year ago. Collections de-
clined slightly.
Charge accounts increased sea
sonally and were 2 per cent below
the same date year ago. Col
lectlons were slightly above Septem-
Der. 1912
Cash and charge account sales
showed the usual seasonal rise, the
survey said.