Evening star., 1949-10-28
Capital Transit Co.
Reports S29,503 Net
During September 80
By Edward c. Stone

substantial improvement in net
earnings in the report filed today
with the Public Utilities Commits
sion. Net income in September
amounted to $29,503 compared
with a deficit of $36,406 in the
same month last year, an upturr
of s65,000.
Net income in the nine months
of 1949 totaled $527,801 compared
with $273,28 a year ago, a gain o1
$254,521 or SO per cent, higher
fares being an important factor ir
the upswing. Operating revenue!
were up $1,126,977 while tota
operating expenses, taxes and de.
probation showed an advance O.
$897,7S3.
Operating revenues in Septem.
Der revealed a gain of $120,7O5
Taxes were $40,179 higher thar
last year. with small increases IL
operating expenses and deprecia.
ton. Revenue passengers mum.
bered 24.579,32o, a decrease O.
3.O53,5oS.
Revenue passengers in the nine
months totaled 31.874,020, of
27,832,448 or 10 per cent from las
year.
Pepco Earnings Also Rise.
Net earnings of the Potoma
Electric Power Co. in Septembe
amounted to s417.318, an increas
Of s6l,763 or II per cent owe
September a year ago, the repor
to the PUG showed.
Net income in the first min;
months of this year reached So,
459.037, an increase of $66913'
or "a per cent. Operating lev
enues of S26,498,873 increased b.
$3,243,798 or II per cent, Will,
operating costs were up $2,018,
O07.
The report called attention tt
installation of the first two gen
Grating units in the new Potomac
River Station in Alexandria, tn
company having spent more thar
$25, 100000 in expansion so far tni
year.
Baker Wins High Honor.
For the most outstanding serv.
ice to life insurance in Washing.
ton during the past year" w. Ell.
wood Baker, of the New York Life
Insurance Co., has been pre-.
sented the Bernard L. Wilmer Me.
mortal Award. This is one of the
highest honors in the gift of the
District Life Underwriters Associ.
alton and was announced at the
October luncheon at the May
flower yesterday. A former edu.
Gator, he has done great dea
OF public speaking on insurance
especially in the schools.
Tribute also was paid to two
women members OF the Associa
ton who have won places in the
Quarter Million Club by produc.
tion records. They are Helen A
Pendergast, Mutual of New York
and Thelma R. Davenport, Of the
Northwestern. More than 40 new
members were introduced by Pres
ident w. j. McCausland.
Long Service Rewarded.
Lena A. Smith, Brentwood, Nd,
and Samuel G.. Tribble, of Wash
ington, were inducted into the
Quarter Century Club of Stan
dard Brands, Inc, at q dinner at
the Mayfower Hotel last night.
Both are employees Of the Lang
don Plant.
Twenty-eight Washington resi-
dents are members of the club
all being employed at the yeast
plant. Many executives from
headquarters attended the dinner
one of IA to be held all over
the country.
Bank Arranges Orchid Show.
The American Security e. Trus1
Co. has made elaborate plans fol-
the second annual orchid exhibi1
by the National Capital Orchic
Society, to be held in the bank
tomorrow, with a preview thi,
evening. Orchids have beer
brought here from all over the
world which means that last
years fine show will be eclipsed
D. j. Needham, general counse
OF the American Bankers Associa-
ton, has sent to State Secretaries
bulletin covering all laws en-
acted of interest to banks in the
last Congress. He also takes ur
bills which will go over to the
next session. No strictly banking
bills were passed although some
made progress toward enactment
Marx Heads Controllers.
The National Association o1
Bank Auditors and Controllers
meeting in Philadelphia, elected
Raymond G. Marx, who is con-
troller of the Riggs National Bank
president of a new Eastern Re-
gional Conference. just organized
He was also made official repre-
sentative of the organization in
Washington which means special
contacts with Government officials.
Fulton H. Dixon, auditor of the
Security Savings & Commercial
Bank, was named secretary and
treasurer of the new organization.
w. B. Mehler, American Security
& Trust Co., was made a member
of the Committee on Consumer
Credit. Other honors given Dis
trict bankers have already been
announced.
The Starrett Television Corp
has appointed Whitfield Pressinger
& Associates representatives fo1
Washington, Baltimore and Rich
mond.
Chicago Grain
CHICAGO, Oct % R-With the ex.
ception of corn, grains held steady after
some initial shakiness on the Board o. o.
prospects Of increased marketings OF the
cash grain next week.
Wheat maintained a Arm trend from
the start, although dealings In this pit