Evening star., 1944-10-25
Investment Bankers
To Hear Prominent
Speakers al Chicago
By EDWARD c. SToNE.

Leading speakers at the 33d an
nual meeting of the Inyestmen
Bankers Association of America t,
be held in Chicago November 26-2
will include Alfred P. Sloan, jr
chairman, General Motors Corp.
the Earl Of Halifax, British Ambas
sador to the United States: Ted r
Gamble, national director, War FL
nance Division, United States Treas
ury, and j. Clifford Folger of Wash
1ngton, who is president of tn,
association.
The program, announced TODAY
indicates a very important session
Many association matters as we'll a,
postwar financing and investment
problems will come before the boare
OF governors and the open session,
along with the annual COMMITTEES
reports.
Mr.. Folger is slated for election tt
a second term as president, a dis.
tinction not previously accorded an,
president. This action is in appreci.
alton OF the brilliant efforts he ha,
put into association affairs thi.
year
Daily Phone Calls Increase.
The Chesapeake & Potomac Tele-
phone Co. reports that average
daily phone calls in September
numbered 1,471,777 against i 1852 78(
In the same month wear ago
Telephones in service totaled 265 00(
compared with 1865, ,498 a year ago. a
drop OF l8 phones from August
1914 ~''
With the exception of bank clear.
mgs, all other important business
indicators in the Capital were high.
er In September than a year ago
Retail sales, postal receipts, elec-
trlcity sales, gas sales and express
shipments were substantially above
September, l943.
Alice Drake Guest Speaker.
Miss Alice Hutchinson Drake
head OF the research staff of Haskins
Syndicate, author, and the first
radio fine arts commentator, will
address the Bank Women Club this
evening at the Republic, 910 F. street
The meeting will start with dinner
Mrs. Myrtle P. Lewis presiding.
Miss Drake, the guest speaker. is
connected with the Political Study
Club, founder of the Book Lovers
Hour" at the YWCA, and has writ
ten a good deal of verse. She is a
descendant of Anne Hutchinson,
founder of women's club movements
in America.
S0uthern's Gross Higher.
Gross operating revenues of the
Southern Railway in September
reached 500 1922, ,746, an increase of
s1,605,5l1 over September, 1943. Net
operating income dropped from So
6l8,277 a year ago to $2,552,059 bal
ance after charges this year of
Sl,554 1893 comparing $2,526,3O5 a
year ago. Net income of the four
other principal railroads comprising
the Southern Railway System also
were lower than in September. l943.
Russell Explains Tax Rules.
Willis l.. Russell of the National
Cash Register Co. discussed wage
and salary stsbilization decisions
and regulations before District of
Columbia Control. Controllers In
stitute of America, at the Carlton
Hotel last night He explained how
the Bureau of Internal Revenue de-
termines whether employers have
complied with wage regulations and
emphasized the Importance of keep
ing adequate records to substantiate
all tax reduction claims.
Washington life insurance leaders
today concurred with the Life In
surance Institute in predicting that
from 10 to 100 per cent of their for
mer employees will return to pre-war
posts after the war.