Evening star., 1943-04-20
Passenger Revenues
On Southern Roads
Up 119 Per Cent
Operating and Freight
Incomes Also Sour
Above March, 1912
BY EDWARD c. STONE.

BY EDN ARD L. SlONE.
Seventeen class l railroads in the
Southern district, representing 657
per cent OF total operating income
IN the territory. reported passenger
revenues IN March amounting to
$4,000 468. compared with S6225,797
in March, 1912, or an increase of
1874 per cent, the Association Of
American Railroads reported here
today
The same roads had estimated
operating revenues in March total
ing S72,275.189 compared with $50
829481 in March, 1912, an increase
Of 42.2 per cent.
Freight revenues of these rail-
roads in March also shot upward
amounting to S54639.7 .761 compared
with S41,625 $40. OF an increase of
3l.7 per cent. the report said,
Associations Pile up Bonds.
Officers of the District Building
and Loan League received word to-
day from Fermor S. Cannon. chair
man of the War bond drive for
the United States Building and Loan
League. stating that loan asSoCia-
tons all over the country are buy
ing bonds very heavily.
He estimated the associations and
cooperative banks will buy SIS
100000 in the present drive and
bring their Government bond hold
ings up to 8 per cent Of total assets.
Besides investments for their own
portfolios, these institutions expect
to sell S50000,000 more War bonds
TO the public and take. orders for
another S50.000000 of other types
of Government bonds during the
campaign.
Quaker City Heads List.
Philadelphia led Washington and
other leading cities in sales of new
life insurance in March. with a
gain of 35 per cent over the 1912
record. New York reported the same
gain as Washington, 5 per cent.
Chicago came next to Phila-
6elphia with % per cent uptum.
Cleveland and Los Angeles wrote
10 per cent more policies. Boston
vas up 2 per cent and Detroit
per cent. St. Louis reported the
same March business as d year ago.
George A Hates. president of
the District Life Underwriters As
sOclatlon. said today there was a
very definite and substantial upturn
IN demand for life insurance in the
Capital in March. Business in his
office Jumped IS per cent, making
the best month on record. Other
Offices also noted sharp increases.
The highest income taxes on rec
ord seemed to have no effect on
March insurance sales, Mr.. Hates
SAID. In January and February Of
last year there was an abnormal
gam Of 40 or so per cent in the
demand for war insurance. That is
one reason why the first two months
CT the present year looked so poor.
he added
Brokers Praise Schram Plan.
washington partners in New York
Stock Exchange firms were enthusi-
astlc today over the plan of Emil
Schram. head OF the EXCHANGE. to
visit member firms in Chicago, San
Francisco, Los Angeles. New Or
leans and Atlanta They believe
that brokers n outside cities have a
lot Of practical ideas that an ex-
2hahge official would not get in Wall
Street OUTSIDE brokers are partjc-
ul3rly anxious to get lower taxes. on
trading transactions.
Market comment differed conSid-
eISbY TO-DAY on the ncar-tcrm ac-
ton Of the stock market. some OBJ
servers expressing the opinion that
the recent correction may not have
gone far enough Others look for
a continuation of the long advance
BROKERS IN the Capital seem gen.
orally agreed that the long pull out
look is highly favorable. They say
the market now is much more Sc
IeCtlVe' than 1t was two weeks ago
Regulation V Loans Heavy.
The Federal Reserve Board reDorr-
ed today that during the first wear
Of operation under regulation Y
there were authorized 1894 guaran-
tees for Wal production loans total
ing S3.T2574l 900.
Advances to borrowers amounted
to So 224,688000, of which 1919. .682 :
600 was repaid leaving balances OF
Sl,245006,O00 outstanding on March
81
The guaranteed portions of the
loans on March 81 aggregated S998.
$4,000 or so per cent on the aver
age, About 20 per cent of all loans
We're for amounts under $4,000 and
% per cent for amounts not over
100000.