Evening star., 1945-03-04
W.R. & {. Profit Cut
To 1858 a Share
In Last Year
By EDWARD C. STONE.

Ill 6uSl WI
By EDWARD C. STONE.
Washington Railway g. Electric
earned $35 .83 per share on the COM
mon stock last year against $40.94
? a year ago, according to the annual
report. The 1914 decline was due
to reduction in dividends received
from the Potomac Electric Power
Co.
Listed on the Washington Stock
Exchange, Railway common paid a
S36 dividend last year. The last
sale on the exchange was recorded
at $3.50 share, to yield 545 per
cent. Trading in the stock has been
light, only II shares changing hands
SO far in 1945.
Express Shipments Expand.
Rejecting the wartime business
boom, February express shipments
set a new record for the month in
the Capital, Supt. w. o. r. Hannah
of the Railway Express Agency an
nounced yesterday. Shipments to-
tailed 234,078 against 228,551 in Feb
ruary, 1914, a gain of 5,527, or "a
per cent. On account of leap year,
February had an extra business day
last year, adding some $4,000 ship
ments.
Shipments in and out of Wash
ington in the first two months of
1945 totaled 492,468, in comparison
with 464,596 in 1943, an increase of
27.872.
February shipments by air totaled
1905 against 1880 a year ago, Mr.
Hannah said.
Store Sales Still Climbing.
Department store sales in Wash
ington again made substantial gains
in the week ending Saturday, Feb
ruary "a, registering an advance of
18 per cent over the corresponding
week year ago, the Federal Reserve
Bank of Richmond reported yester-
day. Trade in the fifth district was
up 81 per cent.
Sales in the Capital were also 10
per cent ahead of the previous week
this year, were 13 per cent higher in
the whole district and II in Balti-
more, the review said.
Cumulative sales in the Capital
in the four weeks ending February
"a we're 16 per cent higher than a
year ago and 18 in the fifth district
Ample Postwar Oil Foreseen.
C. l.. Burrill of the Standard Oil
Co. Of New Jersey told Washington
Chapter, Controllers Institute of
America, at the monthly meeting
at the Carlton Hotel, that there will
be ample oil supplies after the war.
In the immediate postwar period
there will be a sharp reduction in
demand which will be followed by
a rapid increase as industry is con-
verted and automobiles are made
available. Recent developments in
connection with gas turbines, jet
propulsion and Diesel engines indi-
cate the changes that may take
place in the character of petroleum
consumption, he. said, adding that
there may be striking improvements |
in the quality of fuels for automo-
biles.
Insurance Sales Up Sharply.
In contrast to Washington's drop
of 4 per cent in life insurance sales
in January from January, 1914, sew
eral other cities recorded some sharp
advances. Los Angeles sales were up
"a per cent; Boston. 20; st. Louis, 81
Chicago, IL; Detroit, IA; New York,
16: Philadelphia, 9.
OF 200 Eastern real estate issues |
in the Amott-Baker bond list, 140
increased in price in January |
ITo III ~ DrNy,arftnr nc
2la points to 81 during the month,
the survey shows. National Press
AVS, at 68, were up 2 points, and
the first 3-5s, at 1901, were up Il.
A Philadelphia bond issue was up
20 points and another II.
1854 Loan Requests Filed.
Up to Janary /, more than 10000
veterans or their families had con-
suited building and loan associations |
about CT home loans and 1,050 had
filed applications totaling S4,689, ,057,
the United States Savings and Loan
League reported yesterday.
At the beginning of 1945 the asso-
Citations had closed 81 loans for
S194,000. CLOSED" means the loans
had been processed by the Veterans
Administration, guaranteed and the
lending institutions had started
paying the money to the borrower.
The loans averaged S5,244. Volume
Is now increasing substantially, the
report said.
Equitable Has Best Year.
The Equitable Life Assurance So
ciety of the United States paid an
aggregate of S1.585,616 to Washing
ton families during 1914, the annual
report diScloses. The company en-
joyed a record year, sales, insurance
in force and assets all rising to new
highs.
The Institute of Life Insurance
has announced that death benefits
paid by all companies in the Dis
trict of Columbia in 1914 amounted
to S11, ,482 900, of which $7,687 900
was for ordinary life insurance and
the rest for group and industrial
insurance.
Banking Course Announced.
Thomas j. Norris, educational
chairman, Washington Chapter,
American Institute of Banking, has
announced that a course entitled
THE Tellers' Handbook" will be
started tomorrow evening. The in
structor will be Lynn o. De Lash
mutt. assistant cashier, Riggs Ma
tional. The course will cover all
pr blems by bank teller.
Plans also are being made for a
curpent events course with Dr. Ell
mer Louis Kayser. George Wash
ington dean, as lecturer.
Financial District Comment.
The newly listed Capital Transit
As, selling on the Washington Ex-
change at 1041a, yield 3.67 per cent.
AS most of the bonds are owned in
the Capital, lively exchange trad
ing Is anticipated.
Donald j. Reese, with WPB since
Apri, 1912, has returned to the In
ternational Nickel Co. in New York.
Athur N. Otis, president, Mer-
chants Refrigerating Co., New
York, has been named a consultant
on Army refrigeration problems.
The United States Savings and
Loan League has Cancelled the
Southeastern group meeting usually
held at, this time.