Evening star., 1950-03-17
D. {. Telephones Set
Record in February,
Calls Also Increase
By Edword c. Stone

By Edward c. Stone
Both the number of telephones
In service in Washington in Feb
ruary and average daily calls re-
corded substantial gains over the
same month year ago, Chesa-
peake & Potomac Telephone Co.
officials announced today.
Telephone stations in February
numbered 469,522, an increase of
20,228 over the same month last
year. The report shows 1916
phones were installed during Feb
ruary, pushing the total to an
other new all-time high mark.
Average daily calls numbered
2.262,018 in comparison with O.
l88,343 in the like 1949 period, an
increase of 73,675 calls per day.
The constant increase in calls is
one of the best barometers reflect
ing present business activity in
the Capital, officials commented.
Demand Deposits Step Up.
Washington member banks re-
ported gain of $11,835 900 in
demand deposits for the week
ending March 8, according to the
Richmond Reserve Banks weekly
review. Savings deposits were up
slightly from the previous week.
Commercial loans expanded by
$l.256.o00 and the week regis
tered another small gain in real
estate loans. Total investments
revealed rise in excess of 81 mil
lion, most of which was in Treas
ury bill purchases.
Strikes Cut b. e. o. Net.
The Baltimore 81 Ohio Railroad
reported today q 1949 net income
of $6,S69,8 1927. shrunk by more than
SIS million from the previous year
because of work stoppages in coal
and steel. The carriers annual
report estimated it lost some 1884,
600 carloads of freight last year
through the strikes.
Freight revenue showed a $39,-
728,935 decline from 1s4s. The
728,935 decline from 1948.
Despite this" the B. & o. said,
1t was able to reduce it's total in
terest-bearing debt by more than
SIS million and make substantial
improvements and additions to
property"
Total income for '4s was $685.
775,654. and 1.S9 per cent of this
was net income; in 1s48 that per-
centage was 5.45 for net earnings
of $22,158,295.
Credit League to Meet.
The 18th annual meeting of the
District of Columbia Credit Union
League, Inc, will be held tomor-
row at Hotel 2400, with an after
noon session and a banquet in the
evening. Officers will be elected.
James w. Grant, League presi-
dent. will be POSTMASTER at the
dinner. Guest speakers will be
Donald Dawson, Administrative
Assistant to the President on Per-
sonnel Matters and James Nit
chell, Civil Service Commissioner
The Coast-In Pontiac Co., 400
Florida avenue, NE, has received
a Better Dealer Award" from
Pontiac executives for outstanding
service rendered during the past
year. The award was presented
by j. c. Bates, factory zone mana
ger.
Storage Dividend Declared.
Directors of the Security Stor-
age Co. have declared the regular
quarterly dividend of $1.25 per
share, payable April 10 to stock
holders Of record April S.
Maury L. Nee, president of the
National Retail Furniture Asso-
citation and treasurer Of the P. ].
Nee Furniture Co., will attend a
meeting of the officers and direc-
tors Of the association Monday
and Tuesday in Biloxi, Miss.
Lower Plane Fares Asked.
National Airlines expects to cut
fares 20 per cent for certain inter-
mediate city traffic and increase
traffic 80 per cent, Walter Stern
berg, vice president of sales, told
the Civil Aeronautics Board yes
terday. National wants to reduce
fares to points south of Washing
ton from cents mile to ap-
proximately 434 cents.
Washington Chapter, American
Institute OF Banking, will hold the
Washington A. P. Giannini public
speaking contest next Wednesday
evening in the American Security
Building. The contestants will be
Hugh Darling. Harry M. Schoenly
o. r. Thompson, G. S. Donegan
and Clayton Doing.
The State Loan g. Finance
Corp, Of Washington, has applied
to the SEC for authority to issue
81 million SO debentures, with
Johnston, Lemon g. Co. as chief
underwriters.
February Gas Sales Soar.
The Washington Gas Light Co
reported today that February sales
totaled 22,383,311 therms against
1s,598,S62 year ago, a sharp gain
OF 3,784,449 therms or 20.35 per
cent.
In the first two months of this
year sales reached 1924 ,445
therms as compared with 1922
s46 in 1949. an upturn of 1901 ,4s9
therms or 1904 per cent. Officials
said the marked improvement was
due to cooler weather.