Evening star. [volume] (Washington, D.C.) 1854-1972, 1949-10-26
Revenues Of B. & 0.
For September Show
Drop Of S6,S65;421
By Edword G.. Stone

By Edword c. Stone
Baltimore & Ohio Railroad off,
Gals today reported a decrease In
September operating revenues OF
s6,865 ,421, rejecting the complete
shutdown of the coal mines on
September 10 and the general de-
crease in business.
Net income showed a decrease
of $2.079,795 for the month. $54.-
348 compared with $2,134,143 in
September. 1913. Operating ex-
penses decreased s4,394.56O as a
result of curtailed operations
while the 40-hour week incurred
some additional costs.
Operations for the nine months
of 1949 resulted in net income
of s7.527,5 28 compared with s16,-
534,709 last year, decrease OF
$9.o07,181.
Loan League Names Officers.
officers elected at the annual
meeting of the District Building
and Loan League at the Mayf1ower
last night included Fred .. Smith
as president to succeed Edward l.
McAleer and William H. Dyer
secretary of the Perpetual Build
Ing Association, vice president.
Mr.. Smith is president of the
Jefferson Federal Savings & Loan
Association. heads a real estate
firm and is an official of the Lin
coin National Bank. also a former
president of the Board of Trade.
F. Wilson Camp was reelected
secretary, Robert E. Buckley
treasurer and c. Clinton James
general counsel. Two new men
were added to the executive coun-
Gil, Raymond c. Williams. presi-
dent, Northeast Building Associa-
ton, and Carl c. Smuck, secre-
tary. Anacostia Federal Savings &
Loan. They will join E. K. Jones,
E. M. Emmerich, Martin A. Cook
and j.. P. Balster.
Higher Taxes Doubted.
Dewey Short, only Republican
Representative from Missouri, was
the guest speaker. He reviewed
the work of the last Congress in
a witty manner, scored the spend
ing of millions more than the
Government took in during the
same period, declared the old sys-
tenn Of checks and balances has
been abandoned and frowned on
the idea that any nation can
spend itself into prosperity. He
predicted no tax increases in the
next Congress.
Secretary Camp reported an in
crease in accounts during the year
of more than $25.000,000. Assets
of the 81 associations have passed
the $500. 100000 mark.
Brokers Elect Officers.
The Southeastern Group of the
Investment Bankers Association
planned to elect Joseph w. Sener
of John c. Legg & Co., Baltimore,
chairman to succeed James H.
Lemon, at the thirteenth annual
meeting, at the Metropolitan Club
late this afternoon. Vice chair
men are to be w. Peyton May.
Norfolk, and w. Carroll Mead Of
Baltimore. 20.
Nominated to the Executive,
COMMITTEES are Wilfred L. Good
wyn, jr., Of Goodwin II Olds. for
three years. and j. M. Atkins OIL
Charlotte, N. c., for one year.
Richard p. Dunn Of Washington
and Edward K. Dunn Of Baltimore
will serve: ex-officio. The Nomi-
mating Committee. which made
the selections, includes Richard
P. Dunn. George D. List and Ed
win B. Horner.
Bankers Honor Downey.
Harry L. Downey. assistant
treasurer, Washington Loan &
Trust Co.. was appointed a con-
sultant member of the Committee
on Personnel Administration by
the National Association of Bank
Auditors and Controllers in Phila-
delphia yesterday.
The United Food Stores Corp.
announces appointment Of David
Abraham as general manager to
succeed E. E. Schoolcraft, who is
executive vice president. Max c.
Rubin is company president.
The National Retail Lumber
Dealers Association made awards
yesterday at the Shoreham Hotel
to L. Crossman Sons, Quincy.
Mass; William P. Proctor Co.,
North Chelmsford, Mass, and the
A. w. Burritt Co., Bridgeport,
Conn, as winners Of national
public relations contest.
Bank Loans Up Slightly.
Total loans in Washington
banks for the week ending Octo-
Der 10 showed a small gain, the
Richmond Reserve Bank reported.
Total assets were down as were
both demand and time deposits.
The District Building and Loan
League will send a large delega-
ton to the 57th annual conven-
ton of the United States Savings
and Loan League in Chicago, open
ing November 10. Fred A. Smith
will head the delegation.
Robert Mccormack of the Hoo
yer Committee. w. F. McCandless,
Bureau of the Budget, and Vernon
D. Northrop, Interior Department.
addressed the Society for the Ad-
vancement of Management, at the
Departmental Auditorium last
night. Performance Budgeting"
was q forum subject.
Henry w. Persons, Chicago. will
address the District Life Under
writer's Association, at tomorrow's
MayfloWer luncheon.