Evening star., 1950-07-28
D. {. Building & Loan
Reports Resources Of
S7,S63,72O, New High
By Edword c. Stone

The half-yearly report of the
District Building & Loan Asso-
citation, No. l Thomas Circle,
shows resources of $7,863,720, al
new all-time high mark for this
39-year- institution. George
A. Baker is president and F. Will
son Camp secretary. Mr.. Camp
is also secretary of the District
Building and Loan League, which
is made up of 27 of these asso-
Citations.
Transit's Earnings Decline.
Net income of the Capital Tran
sit Co. for June amounted tol
$40, ,482, a decrease of $36.348 from
June year ago, according to the
report filed today with the Public
Utilities Commission.
Operating revenues were ST.
263,384 or $1o5,219 less than for
the same month last year, while
operating expenses, taxes and de-
probation totaling $2,222,180
showed a decrease of $69,3l5. To-
tai passengers declined go per
cent, and total miles operated de-
clined SO per cent.
For the six months ending June
80, 1850, operating revenues were
$13, 401,214, which is $989,193 or
SO per cent less than the same
six months of 1949. Operating
expenses, taxes and depreciation
were $13,090,762, or $645,767 less
than a year ago.
Net income for the six months
was $170,385 this year as COM
pared with $517,357 last year.
Total passengers declined 10
per cent and total miles operated
declined SIS per cent.
B. e. O. Leases 3S Diesels.
Roy B. White, president of the
Baltimore & Ohio Railroad, an
nounced today that arrangements
have been made for leasing of 38
diesel electric locomotives under
the plan recently offered railroads
by the Equitable Life Assurance
Society. The diesels. built by the
Baldwin Locomotive Works, will be
used for switching.
President White stated that the
road has also asked for bids for
1000 box cars and 1000 gondola
cars.
Richmond Office Enlarged
The Standard of Detroit group
Of insurance companies in Rich
mond, Va, has taken enlarged Of
fees in the State Planters Bank
Building, with Henry S. Strother
as manager and Merle w. Conner,
claim representative. The Rich
mond office is under supervision of
the Washington branch.
The International Bank. at the
request of the Cuban Government,
is sending a mission to Cuba to
study the country's economy and
make specific proposals for future
development. Francis Adams Trus-
low, president of the New York
Curb Exchange. heads the mis-
sion which will last three months.
Dividends Rise Sharply.
The New York Stock Exchange
Magazine reported today that
common stock dividends made an
exceptionally good record in the.
first half year. rs4i
OF 853 stocks making payments,
% per cent paid more than in the
same 1949 period. More than 81
per cent paid the same dividends
as last year. Only 81 issues de-
ferred or eliminated their pay
ments.
Close to "a per cent of all COM
mon stocks on the exchange paid
dividends in the half year, dis
bursements exceeding So billion
for the first time.
The exchange also reports that
small stockholders own by far the
greater portion of all listed stocks.
Hodges Wins Promotion.
Louis Hodges, vice president
of the Union Trust Co.. who has
been located in the G street Office,
has been transferred to the main
office and placed in charge of the
real estate department. He has
been with the bank for many
years. Justin Bowersock, execu-
tive manager, announced the
transfer.
Bache & Co. urges investors
to check over their investments
with special care in these days of
sudden changes due to war de-
velopments. Many stocks which
were attractive before the out
break of hoStilities are not so
promising now. Others may do
relatively better under present
conditions, the exchange firm says.