Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-07-26
Baltimore & Ohio
Reports Big Gain
In Net Income
BY EDWARD c. STONE.

Net income of the Baltimore g.
Ohio r. r. for the first half of
this year amounted to S21,813,380, a
sharp gain of SO .253 1853 over the like
period a year ago, it was announced
today. The net was after accruals
for payroll taxes and Federal in
come taxes totaling s17,089,579 or
$685. .546 more than last year.
In the six months, railway operat-
ing revenues reached $173,6l5,SO4 or
S33,640,234 more than in the first
half Of last year. The higher rev.
enues included an increase of more
than S24,000,000 in returns from
freight and a rise of S7121,187 in
passenger income. Mail, express
and other revenues were also higher.
Operating expenses were kept
we'll in hand. a total of S1l4.35O ,586
being $l7,l04,133 under last year in
the same months. There was a saw
ing Of more than 100000 in
maintenance of way costs and nearly
that much in transportation eX-
penses. Miscellaneous deductions
from income showed a decrease of
S309,799.
Due to the coal strike, as we'll as
the suspension of the increase in
freight rates, net income of $3079,-
6l3 in June was S69,507 lower than
in June a year ago, June operating
revenues were s28 Pos, 1888. an upturn
over June, 1912 of S2,342, SGT.
Eyoiohf ,-ouopnoc i,, luna IF
509,183 were only Sl,l42, 1853 ahead
Of last year Passenger revenues
gained $996,058 At the same time
railway operating expenses of Sl9,-
503,845 revealed an increase of
$2536,123.
For the six months of l943 fixed
charges. including contingent in
terest, were earned 2428 times, the
report said.
Brokerage Offices Crowded.
Washington brokerage Offices were
crowded before the New York Stock
Exchange opened today, with the
news from Italy the big topic of
conversation. Many looked for a
boiling market on the upside.
However, the market opened low
er. with the steels selling off in the
early trading, the peace stocks
being more or less neglected.
Brokers were swamped with tele-
phone calls from investors eager to
learn the effect of the war news on
the market. After rather slow
opening, the tape began to move
very fast.
SafeWay Stores was among the AZ
stocks which made new 1943 high
marks Saturday.
Temple Heads District Office.
William M. Temple, who has been
connected with the Owens Illinois
Glass Co. for the past eight years,
has been named manager of the
company's Washington Office, which
will coordinate all divisions of the
company's service in the Capital
The company has opened new
offices at 1927 K street NV. AS
head of one of the divisions, Mr..
Temple has resided in Washington
for several years. A native of
Bowling Green, KY, he is a past
president of the Kentucky Club of
Washington.
ABA to Study Insurance.
President w. L. Hemingway of
the American Bankers Associa ton
has named a special committee on
Federal deposit insurance to make
study of this system Claude E.
Bennett. president. Tioga County
Savings & Trust Co., Wellsboro. Pa.
has been named chairman. Under
the present law. bank accounts are
insured up to $4,000
Washington bank officials said to-
day that they will begin taking
withheld tax funds for the Govern
ment very shortly. These funds will
be placed in separate accounts from
all other deposits and will be COL
lected for the Internal Revenue De-
partment of the Treasury. 1t is
understood that all banks in the