Evening star. [volume] (Washington, D.C.) 1854-1972, 1948-12-29
Owners Of Two Hotels
Boost Gross Income
And Debt Payments
By Edward c. Stone

Washington Properties, Inc, which
owns the Wardman Park Hotel and
the Carlton Hotel, reported improve
ment of $85,605 in gross income
during the year ending october 81
and substantial payments on the
first mortgage bonds.
President Frank E. Weakly said
the increase in gross is mainly from
room and apartment revenue, al
though occupancy was less than a
year ago. The improvement in dol
lar income was due to increased
rates.
Payments of $312,500 were made
on the first mortgage bonds and in
keeping with requirements of the
bond indenture, an additional sec, 482
has been earned and will be paid
in January, making overall debt
retirement out of fiscal year earn
ings total S372,982, an increase OF
$18,524 over last year.
The company spent S191, 542 for
property requirements and additions
against $66,597 during 1947 Many
improvements we're made at Ward
man Park, the Carlton and at 2700
Connecticut avenue, Mr.. Weakly
stated. Net income for the year
before allowance for depreciation and
write-offs for improvements, totaled
S384,567 against s481 ,o34 a year ago
Brown Goes to Nee Firm.
Bernard L. Brown, former execu-
tive controller of the Hecht Co. in
Washington, has been appointed
general manager of the P. j. Nee
Co. furniture stores of Washington
and Virginia, effective January !
it was announced today.
Mr.. Brown resigned from the
Hecht Co. to take the new position
which has just been created by the
company. Before coming to Wash
ington he was connected with sew
eral leading retail concerns IN New
York.
American Overseas Airlines earned
an indicated profit of more than a
million dollars during 1913, Vice
President Harold E. Harris an
nounced today. The earnings estl-
mate is predicated on a Sl,145 900
profit for the first II months OF
1913 before year adjustments.
Message Will End Rumors.
The Presidents message in JAN
uary will put an end to uncertain
ties and rumors, and the business
community will then know better
what adjustments will need to be
made, if any, Ferris & Co. says In
their latest market letter. January
Is generally a good month for Sc
curities. the letter comments.
T; Julian S. Myrick, former presi-
dent of the National Association OF
Life Underwriters and chairman of
the board of the American College
Of Life Underwriters, will resign as
second vice president of the Mutual
Life Insurance Co. of New York
on April l, after 81 years service.
Washington economists view 1949
prospects with greater optimism
than the same people do in New
York and other financial centers,
according to Business Week. The
Washington view is based on higher
Government spending, favorable
corporate profits, huge industrial
output and no price controls.
The Nations airlines may lose less
money in 1e49, if general business
remains high, Robert Ramspeck,
syec,Itiye vice president of the Air
Association, said in Cleve-
land today, according to the As
ISOLATED Press. This year the air
lines are losing only $4,000, 900 COM
pared with s20,0O0,000 last year.
Growth in freight business is the
most encouraging sign.
The Liberty Trust Co., Cumber-
land, Nd, has been admitted to the
Federal Reserve System.