Evening star., 1950-04-20

any previous turnout.
Foreno DON speakers included
Harry r. Schultz, of Chicago,
agent Of the Mutual Life of New
York, whose subject was Your
Business in Balance" He was
followed by E. j. Moorhead, ex-
ecutive vice president of the
United States Life Insurance Co.,
who considered the Job of the
Life eUnderwriter-Yesterday, To-
day and Tomorrow"
The final forenoon address was
given by Glenn w. 1sgrig. Of
Cincinnati, general agent Of
Reliance Life of Pittsburgh. Lets
Put on a Good Show" being his
subject.
w. j. McCausland. head Of the
District Association. greeted the
visitors, after invocation by DR..
Edward j. Latch. pastor of the
Metropolitan Memorial Methodist
Church. John c. Donohoe, Balti-
more. presided, with General
Chairman Mickey Smith slated to
take over in the afternoon.
The program called for ad-
dresses by Roderick Pirnie. Massa-
chusetts Mutual. and Ralph q.
Engelsman. of the Penn Mutual.
b. & o. Net In Sharp Rise.
The Baltimore & Ohio Railroad
today reported a net income
$1,129,000 for March, following
deficits Of $838,443 for January
and $4S9 ,644 for February due to
coal strikes. The first quarter
showed a cumulative deficit of
$199 900 against a net income of
$3.052. .566 a year ago.
The net for March was the best
reported since May. 1949. April
is expected to put the railroad in
the black for the first four months
of the year.
American Airlines reported a
loss of $1,431, ,285 for the first
quarter of 1850 after tax carry
back" credit of $520,000. Loss for
the first quarter of 1949 was $222,-
522 with no tax credit. The 11-day
strike during March caused the
principal difference in the figures.
Revenues for the quarter were
down Sc per cent.
New Vice President Named.
Homer Phillips. of the firm of
Phillips, Candy g. Fuller, has been
elected vice president of the Home
Building Association, to succeed
the late Richard L. Quigley. He |
was also made member of the
finance committee.
Resources of the Metropolis
Building Association have reached
$l4, 4,560,756, a new high. Rudolph |
w. Santelmann, vice president
secretary, reports that share saw
1ngs accounts gained 10 per cent
during the year. to total $12,565,-
$40. Reserves now amount to ST.
27l, ,539. The 83rd annual state
ment is now being distributed.
Freedom Aids Belgium.
Leroy A. Peterson, president of
the Otis Elevator Co., of New
York. just back from Europe, told
the National Association of Cost
Accounts at the Lee House last
night that free enterprise has
made Belgium the most prosper
Gus country in Europe. Under
the Socialistic government, Eng
land is having the hardest time
Of any country he visited.
He urged his hearers to do
everything possible to halt the
spread of government interfer-
ence in this country in matters
pertaining to a. free economic
system. Chapter President Max
w. Shoup presided.
Effective today, Ferris & Co.,
Washington Building, became
associate members of the New
York Curb Exchange, in addition
TO long standing membership in
the New York and Washington
Stock Exchanges.
American Airlines declared the
quarterly dividend of 81 cents per
share on the preferred stock, pay
able June l to stock of record
May l6.
Demand deposits in Washing
ton banks were up $18,S60, 900 in
the week ending April IL, the
Richmond Reserve Bank reported