Evening star., 1948-03-26
Small Transit Profit
In February Contrast,
With Loss Year Ago
By Edword G. Stone

| w. 1Oi CpI udI dIllOQIllcu W So,Gz
compared with deficit of $110, 80,
in February. 1947, according to the
monthly statement filed today with
the Public Utilities Commission.
| Operating revenues of $2,104 0O1
were up $l32,719, while operating
expenses were $36,442 lower than
last year. Taxes Of $161, ,801 COM
pare with $100,944 year ago. Op-
Grating income totaled Sal, ,l6l
against . deficit OF $66,4 in 1947
Revenue passengers numbered 81
| 724,312, a decrease of $780, ,766 from
February, 1947.
Net income for the first two
months of 1948 amounted to $l2 =
749 compared with a deficit last
year OF $14O398. Operating rev.
enues showed a gain of s191, 1856
Operating expenses we're cut $23, ,185
Taxes. increased by $74,758 or 80
per cent. Net operating income
totaled $78,406 against a 100000
deficit last year. Revenues pas
sengers registered q 10 per cent
decrease.
Officials stated that revenues In
today's report include the results
Of the fare increase of last May
and expenses include the effect OF
wage increases as offset by econ
omies made to date. February
1948, also had % days.
Equitable Reports Gains.
Henry P. Blair, president of the
Equitable Life Insurance Co., OF
Washington. reported today that
total insurance in force reached a
new high OF $248, OFT ,160 during 1947
an increase of 22,213,644, or 9.8 pei
cent for the year. Payments te
policyholders amounted to $2,O12,-
662.
During 1s47 the company con.
tinued its substantial growth, with
assets of $38,514,894 at the year -enc
highest in Equitable's history, an in.
crease of $4,209, 1874. or 1873 per cent
Holdings of United States Treas.
ury bonds increased $8796 691, public
utility bonds 1892 200, and industrial
bonds $471 ,202. The mortgage loar
portfolio increased 81 900, 1893, mostly
in loans on veterans homes.
Savings Accounts Expand.
F. Wilson Camp, secretary of the
District Building and Loan League
reported today that holders of 1885,.
600 accounts in the 27 building ano
loan associations in the city, in
creased their balances by 10 per cent
in the year ending on February 20
On that date accounts totaled $274,.
900 900 against spas, ,000, 900 q year
ago.
Combined reserves now total $27,-
677 900, which Is almost exactly IL
per cent of share liabilities, Mr.
Camp stated.
New Sales Manager Named.
p. w. Budworth, former director
of Government contracts for Frigid-
aire, has been appointed manager
Of ice cream cabinet sales. He
joined Frigidaire in 1926 as manager
Of the Baltimore Washington
branch.
C. Carney Smith has been ap-
pointed sales manager of the H
Lawrence Choate Agency of the
Mutual Life Insurance Co. He comes
from the home Office in Newark.
Joseph A. Breese has been named
an associate In the j. D. Marsh
Agency of the Lincoln National Life
Insurance Co. A native OF Massa-
chusetts, he came here in 1912.
w. F. Harvey, J. H. Horrigan
David Rosenberg and 8. J. Sugar
of the Crowley g. Marr Agency, will
attend a Penn Mutual conference
Of 1000 field workers at Boca Ration
Fla, next week.
Southern's Net Higher.
Net income of the Southern Rail-
way System for February amounted
to 1895 ,945 as compared with $943,-
339 in February. 1947, Gross was
$18,843,007 against s17,956,555 8
year ago. Net operating income
totaled $1,933,191 VS.. 81, ,878,854. Net
income for the first two months OF
this year amounted to $2,542 ,284
against $1,842,171 last year.
Terminal Refrigerating & Ware
housing Corp. today reported 1941
net income OF $145,863. equal tc
$7.34 q common share, compared
with $120,082, or $500 per share q
year ago. Gross totaled $l,091 ,27e
/