Evening star., 1950-02-27
Deficit Of S838,443
Reported by B. & 0. in
January Operations
By Edword c. Stone

The January statement of the
Baltimore & Ohio Railroad showed
a net deficit of S838, ,443 compared
with a profit of $1,116,702 in jan
uary a year ago. company officials
reported today.
The deficit was largely due to
the coal strike and the curtailing
OF much passenger train service.
Operating revenues amounted
to s27 ,260,37 drop of $4,225 PAL
from January a year ago. Rail
way operating expenses of S24,-
260,240 revealed a reduction Of
$1.513,234.
Net revenue from railway oper-
ations of S3,000,137 disclosed a
decrease of S2,712,007 from last
year.
Building Contracts Decline.
Building contracts awarded in
the District in January totaled
$3,461 900, drop of 10 per cent
from December and 10 per cent
from January. 1949. the F. w.
Dodge Corp. revealed today.
Residential awards amounted to
5000, off 50 per cent from
December but an increase of 283
per cent over January a year ago.
Non-residential awards totaled
S842 900. down 81 per cent from
December and 73 per cent from
January, l949.
Heavy engineering awards were
off sharply from December but up
slightly from January. 1949. Build
ing contracts in the Metropolitan
Area were 4 per cent higher than
year ago.
Mortgages Close to Peak.
The Home Loan Bank Board
reports that the volume of mort
cages under $4,000 made in 1949
in the Nation reached a total of
$11 ,828,000.000, a figure almost
equal to the all-time peak at
tanned in 1948.
The slight drop from 1948 was
due to an 8 per cent decrease in
mortgages financed by CONNER
cial banks and a per cent de-
cline in recordings by individuals.
The decreases were nearly offset
by miscellaneous lenders and life
insurance companies. Building
and loan associations had the
largest lending total, $3,646, 1885,
900.
Capital Airlines has appropri-
ated for 1850 the largest advertis-
ing budget in its 23-year history
James w. Austin, vice president
announced today. The new air.
coach service will be one of the
features, the addition of new pas
senger planes and other expan-
sion plans to be included The
new advertising will cover II
States in which the company op-
crates.
Virginia Issues Climb.
Virginia Electric & Power COM
mon closed last week on the
Washington Stock Exchange al
81. new high for the year and
a gain of IA points during the
week. The stock has gained more
than 6 points in 1850 and remains
very active in this territory. The
company's 3s% bonds gained
two full points on the New York
Exchange Saturday. closing at
1241a.
Stanley Martin, State Mutual
Life of Dallas. will address the
District Life Underwriters Asso-
citation at a luncheon on March
80. Directors and officers will be
nominated. The big event in
April will be the annual Wash
ington- Baltimore Sales Congress
Sidney F. Taliaferro, for 20
years an official of the Riggs Ma
tional Bank, will be greatly missed
in the financial district when
he retires this week. He has been
one of the city's leading bankers
and an exceptionally able trus.
officer. His service to the District
Bankers Association will long be
remembered and he is still re-
called as an unusually capable
District Commissioner.
Heard in Financial District.
Mergenthaler Linotype stock
has moved from 1914 to 81 on
the Washington Stock Exchange
this year.
Potomac Electric Power COM
mon remains by far the most
active stock on the Washington
Exchange. Dealers take credit
for bringing much of this stock
"back home" from other cities.
The Philadelphia National re-
Gently made $5.000,000 available
to small businessmen, the loans
to be negotiated by banks located
anywhere in the Third Federal
Reserve District.
The many North American Co.
stockholders here will soon be
owning shares in the Union Elec-
trio Co. of Missouri, if the present
merger plans are carried out.
North Americans independent
existence, which started in 1890,
will be ended.