Evening star., 1949-09-26
B. 90. Net in August
Sharply Below 1948,
Coal Loss Blamed
By Nelson IA, Shepard

August net income of $570,816
for. the Baltimore & Ohio Rail-
road Co., decrease of $1,937, ,103
compared with earnings for the
same month last year, was dis
closed today in the company's
monthly operations report.
One of the largest coal car
riers in the country. the B. g. o.
blamed the sizeable dip in net
income on the miners shorter
work week and the general de-
cline In business.
August figures also reflected
the general drop in B. & o. reve-
nues that have marked operations
so far this year. For the first
eight months, the net income was
$7,473,18o. a decrease of $6,927,-
1856 from a year earlier.
August operating revenues were
$4,485, ,102 under the same month
year ago, rejecting in large
part the slump in the company's
coal business. Operating expenses
decreased $2,236.614. Some addi-
tional costs were incurred on &C
count of the June and July flood
damage.
Over the eight months period
operating revenues of B. & o.
were 1921 ,670,211, a decrease of
$11,738,758 compared with the
same period in 1948.
Insurance Agents to Meet.
The complete program for the
18th annual convention of the
National Association of Mutual
Insurance Agents, opening in Chi
eago on October 10, is now in the
hands of Philip l.. Baldwin, ex-
ecutive secretary, 912 Investment
building. The three-day session
will be held in the Congress Hotel.
President High H. Murray. Jr..
of Raleigh, N. c., national presi-
dent, will convene the sessions at
a luncheon meeting. There will
be an address at the luncheon by
Lynn A. Williams, jr.. president
of the University of Chicago. APP
propriately timed in view of Rus
sian news, his topic is "The In
surance Man and the Atom"
A number of delegates from the
Washington area will attend.
Sessions will end with a banquet.
The Bank of Comemrce and
Savings will hold its annual stock
holders meeting at II am.
Thursday. President Thomas j.
Groom will make his report at
that time.
Woolworth Store Enlarged.
F. w. Woolworth Co. will open
its enlarged store in the 5000
block of Fourteenth street NV.
on October 6. In keeping with
the steady expansion of the Four
teenth street business area, the
enlarged store will contain 1881
square feet of selling space, as
compared with 5,096 in the old
one.
In every other way, too, the new
Woolworth unit will reflect the
progressive trend, with fuorescent
lighting, terrazzo flooring and air
conditioning. H. L. Zook is man
ager. The new unit also will af-
ford additional employment.
Representatives of the John
Hancock Mutual Life Insurance
Co. in this area are interested in
the company's new Boston sky
scraper which will be opened
Thursday and agents from all
over the country will be in at
tendance. For the company, this
event has an extra significance
as it is also the anniversary date
when Paul F. Clark, now presi-
dent, began his career with the
John Hancock 35 years ago in
Baltimore as an agent.
During Open House Week. the
John Hancock Co. expects to be
host to about $4,000 people in its
new 23-story home. Founded 86
years ago, the company is now the
fourth largest legal reserve life
insurance company in the country.
Howard Lundgren, of Omaha,
Neb. was the principal speaker to-
day at luncheon meeting in the
Statler Hotel sponsored by the In
vestment Association (FraternaD
It is affiliated with the National
Fraternal Congress representing
some ia member societies. Mr.
Lundgren is the investment ana
lyst of the Woodmen of the World
life Insurance Society with head