Evening star., 1944-04-27
Pennsy Reports Gain
In Operating Income
OF S45,984 This Year
BY EDWARD C. STONE.

py AMI
Net railway operating income OF
the Pennsylvania Railroad in the
first three months of this year
amounted to $22,910,767, a slight
gain of $45,984, it was announced
today. Net operating income in
March alone totaled So, ,022, ,034, a de-
crease of $633,844 from March a
year ago.
Freight revenues in March totaled
$58, 8,425,l75, an increase of 1924, ,542;
passenger revenue of $40, ,705, ,286
were S2,998,135 ahead Of last year
Operating expenses were $6,555, $50
heavier than last year, but taxes
were lower.
Freight revenues in the first quar-
ter reached $165 ,922 ,989, a notable
gain of $12,921 $50. Passenger rev.
enues of SCI, ,597 ,953 showed a gair
of $685., 1868 over last year. Mail
express and other returns were also
higher, but railway operating ex-
penses largely offset these gains
with an increase of $23,083, ,463, the
report revealed.
b. G. o. Earnings Lower.
Net income of the Baltimore &
Ohio r. R. in March amounted to
$2,124,954, a decrease of $2,046, ,73s
from March, 1943, it was announced
today. Freight and passenger rev.
enues were up, but expenses also
were much higher. Net income in
the first quarter totaled $4,864,315
a drop of $4,828,835 from the like
1943 period.
The decrease in the three months
was the result of the increase in
the maintenance program and loss
due to the suspension in May, 1943,
of freight rate increase, higher rates
OF pay and prices for fuel, the latter
three items amounting to $7,575, 600
Postwar Complications Seen.
DR.. Arthur E. Burns, adjunct pro-
fessor of economics, George Wash
tngton University, in a discussion of
Postwar Public Debt, Problems be-
fore District Control, Controllers In
stitute of America, at the Carlton
Hotel, predicted that the enormous
public debt after the war of ap-
proximately 300 billion dollars would
be the cause of many economic and
political complications.
DR.. Burns said that the income
from taxes in the postwar period of
approximately rs billion, based on
tax rates being maintained at pres
ent levels and business enjoying
most prosperous peacetirne years,
would be just sufficient to cover the
estimated expenditures of Govern
ment including interest and would
thus leave no funds available. for
the reduction of the public debt.
Hecht Stock Owners Listed.
OF the 19l,515 shares of SIS par
value shares of common stock reg
istered by the Hecht Co. of Balti-
more with the Securities and Ex-
change Commission, $4,000 are
owned by Alexander Hecht of WASH
ington, president of the company.
and $4,000 by Moses Hecht of Balti-
more.
The SEC announces that the re-
mdluIaS SiidESS t0 De S0lQ TO the
public in the near future through
Goldman, Sachs & Co. are owned by
IL other members and trusts of the
Hecht family.
The company operates stores in
Washington, Baltimore, New York
and Easton, Md. The price at
which the stock will be offered has
not been announced.
Women Lift Insurance Sales.
An increase of nearly 80 per cent
in ordinary life insurance bought
last year by women, who now make
up SO per cent of the buyers Of these
policies, is indicated by a special
study Of a representative cross-sec-
ton of the life insurance business
made by the Institute of Life
Insurance.
While they make up one-third of
the ordinary life insurance buyers,
women, the study shows, are buying
smaller amounts of life insurance
than men, whose needs are greater,
in line with their traditional position
as principal bread winner of the
fo