Evening star., 1950-08-02
D. {. Postal Receipts
SET Record in July,
SO Pct. Above 1949
BY Edword c. Stone

By Edword c. Stone
July receipts at the City Post
Office broke all previous records
for the month. following the new
marks established in May and
June. Postmaster Roy M. North
announced today.
Postal revenues in July totaled
$1,528,046 in comparison with
$1,429,552 in July. 1949. an in
crease of $98, 8,494, or 60 per cent,
MI. North said.
Revenues in the seven months
climbed to an alltime total Of
S11,169,023 compared with $10.-
832,847 in the like 1949 period,
an upturn of $336,176, or $40
per cent.
The advances are due to the
general business boom now pre-
vailing in the Capital, MI. North
asserted. The reduction in postal
service had no effect on revenues.
Telepohne Earnings Mount.
Net income of the Chesapeake
& Potomac Telephone Co. in June
totaled $552,562 against $477 sos
in May and $279.412 in June a
year ago before the rate increase
went into effect, according to the
statement filed today with the
Public Utilities Commission.
Operating revenues of 81, ,38e, ,79l
compared with $3,338,072 in the
preceding month and $2,983 ,226
a year ago. Net operating in
come of $546,141 was ahead OF
the previous month and far ahead
of last year.
Net income in the first six
months amounted to $2,551, ,512
against $1,830.110 a year ago, the
report disclosed.
Pepco Income Declines.
Net income of the Potomac
Electric Power Co. for June to-
tailed $254,742, a decrease Of $685.
598. or 81 per cent from June,
1949, according to the report
filed with the Public Utilities
Commission today.
In the half year. net income
amounted to $2,284, ,625. a drop of
$o7, ,102 or 4.8 per cent from last
year.
Potomac Electric Power common
moved up to 1874 on the Washing
ton Stock Exchange today.
World Bank Boosts Profits.
The World Bank announced to-
day it's net income or profits
increased to $13,698,398 in the
fiscal year ended June 80, from
$1o,610,247 the year before.
Income of the 48-nation insti-
tuition has exceeded expenses by
$685. .492 since operations were
begun three years ago, the bank
said.
International Business Machines
Corp. has appointed George M.
Dick manager Of all sales and
services in the recently estab-
lished commercial Office In this
city. He has been manager in
Knoxville.
After attending Antioch College
and graduating from Oberlin Col
lege, Mr.. Dick Joined IBM in 1889
at Dayton.
Exchange Offer Expires.
The Atlantic Coast Line Rail-
roads offer of exchange of its
first consolidated mortgage is, due
1852. for new general mortgage Is,
due March /, 1880, bearing inter-
est at AZ per cent to September
l, 1852. terminated on July 26.
The new bonds have been ad-
mitted to the New York Stock
Exchange.
The Washington Gas Light Co.
has empounded $4,000 pending
the rate case appeal coming up in
October. In the event the PUG
rate order should be held invalid,
the empounded funds may be sub
iect to refund to customers.
Freight Agent Appointed.
Kenneth E. Stewart has been
appointed freight traffic repre-
sentative of the American Export
Lines in Washington. He already
lives here and has been in the
transportation field for 20 years.
James P. Reinhold, representa-
tive of the president Of the Santa
Fe Railway in Washington. has
peen appointed assistant to the
president-public relations-with
headquarters in Chicago. He has
been here since 1945.
The Fairchild Engine & Air
plane Corp. reports big Govern
ment Air Force contract for twin
engine cargo transport planes.
Bond Averages Decline.
The Amott-Baker realty bond
price averages recorded a decline
of 0.6 per cent real estate bond
prices during July. This was the
second successive month in Which
prices went down. Previously, the
market had risen continuously for