Evening star., 1950-03-24
Mr.. Rice,

Mr.. Benfer has been with the
Treasury Department for years as
a National Bank examiner in the
fifth district, being assigned chiefly
to trust department examinations.
He has resided in Washington all
his life, was educated here and
will assume his new trust depart
ment management duties on April
II.
Mr.. Rice has been with the Lin
coin Bank Al years. He was
elected assistant cashier in 1919
and assistant trust officer in 1929.
He, too, is a native of the Capital,
was educated in the public schools
and in the American Institute of
Banking; also attended the Grad
uate School of Banking at Rut-
gers.
Transit Reports Deficit.
The Capital Transit Co. reported
to the Public Utilities Commission
today that operations for February
resulted in a deficit of $46.554 as
compared with a net income of
$38,298 in February. 1949.
Operating revenues were $2,006,-
$40, compared with $2,211, ,558;
operating expenses were S1,729,609
as compared with $1,807 ,449, and
taxes were $1O0,028, compared
with $145,995.
Operations for two months
ended February %, resulted in a
deficit of s49,767 as compared
with a net income of $1O4,999 for
the same period of 1949.
Operating revenues were $4,231.-
710 as compared with $4,594,217;
operating expenses were 1854
251 as compared with 9.034,
and taxes called for $249.273 as
compared with $358,041.
Revenue passengers in the two
months numbered 46,156,114
against 81, 1,041,212 in the like 1949
period, a decrease of 1885 ,098 or
SO per cent.
Theater Earnings Improve.
Net income of S402, ,249 for 1949,
as against $376,969 for the pre-
vious year, was reported by Eu-
gene Kramer, secretary of District
Theaters Corp. This is equivalent
to $1.24 per share, against $1.16
in 1948, after provision of $222,200
for Federal and State income
taxes. The annual report indi-
Gated substantial improvement in
the net current asset position of
the company.
During the year the annual div
idend rate was increased to so
cents from 40 cents.
Loan Concern to Expand.
The Guardian Building & Loan
Association, Silver Spring, will
move into larger and more con-
venient quarters at 8400 Georgia
ave., on Monday, April 10, Leo M.
Bernstein, board chairman, said
today.
Secretary of the Treasury John
w. Snyder. many bankers. build
ing and loan executives and heads
of leading business firms attended
the reception in honor of Edward
C. Baltz, new chairman of the
District Savings Bond Division at
the Columbia Country Club last
night. The affair was given by
Thomas j. Groom, retiring chair
man and president of the Bank
of Commerce 81 Savings.
Ford Officers Named.
Harvey G. Shelley has been
transferred by the Ford Motor
Co. from Norfolk to Washington
to take the newly created post
of assistant sales manager-city
and also head of Ford dealer ac-
tivities in Baltimore. Charles M.
Murphy, former manager of the
parts department, has been made
car sales department manager.
another new post.
The Washington Automotive
Trade Association reports that
sales of new automobiles and
trucks in February climbed to
2,207, against 1929 in February.
1949, a gain of 20 per cent and
a postwar high for the month.
Sales in the first two months of
1850 numbered 4,341 compared
with 4.097 a year ago.
Mrs. Robert Woods has been
named sales manager of Smiths
Transfer 81 Storage Co.