Evening star., 1950-08-21
District Ranks 18Th
For Building Permit
Valuations in Nation
By Edword c. Stone

Washington stood 18th among
the Is leading cities with the
largest building permit valuations
in the first seven months of the
year, Dun & Bradstreet reported
today. Permits in the District
totaled $43, 1000, AL compared with
$42. 2.780. 0.194 in the like period last
year.
New York topped the list. fol-
lowed by Los Angeles. Chicago
and Detroit. Baltimore was
eighth. Pittsburgh was just ahead
of Washington which was followed
by Cleveland. Building permits
in 215 cities in the seven months
revealed q gain of 48 per cent
over last year, setting a new all
time record.
Building permits in July alone
in the same cities set new high
for the month. sc per cent ahead
OF July last year.
District Leads in Income.
The District of Columbia led
the United States in individual
incomes in 1949, the Commerce
Department announces in the
August Survey Of Current Busi-
ness.
Per capita income in the Dis
trict amounted to $1,s20. a gain
Of 5 per cent over the preceding
year. Seven of the States also
revealed further advances in the
flow Of income to individuals.
The average of $3.50 in in
comes to individuals in the United
States in 1949 was down 2 per
cent from the previous year. New
Mexico had the largest individual
gain, 8 per cent. The largest de-
cline was in South Dakota, %
per cent.
Per capita income (total income
divided by total population) was
down in most sections of the
country except the Far West and
Southwest.
Virginia registered a per capita
income of $1,039, OFF / per cent,
while Maryland's individual in
come amounted to $1,401, I'M
changed.
A drop in farm income had a i
great deal to do with the declines
in many States. Per capita in
come was only 1884 in Mississippi,
the report said.
Prices May Tone Down.
Wholesale price rises have taken
place chiefly in farm and food
products, building materials and
raw materials. Some prices may
have already overshot the level
which could be expected to hold
under current demand conditions
If scare buying" is eliminated,
the Richmond Reserve Bank says
In the August review.
Farm and food products, which
have shown the greatest rise, are
in no way threatened with short
ages, the bank adds. When this
situation is fully realized, prices
may be expected to tone down
considerably.
The building boom is expected
to last for several more months,
the review stated.
Airline Earnings Climb.
National Airlines reported an
operating profit of $4,000 for
July. normally slack month. The
earning compares with a loss of
$93, 900 in July. 1949.
Kenneth Birgfeld, manager of
the Calvert Street Branch of the
American Security & Trust Co.,
is passing his vacation at Virginia
Beach.
The Pennsylvania Railroad is
modernizing 40 dining cars at a
cost of about 81 million dollars.
New York bank stocks scored
fractional to substantial gains last
week in a fairly active market.
Operating revenue of the
Potomac Electric Power Co. in the
IL months ending June 80
amounted to $36.598,999 VS.. $34,-
442.644 a year ago.
While brokers remain cautious,
orders continue to pour in for
stocks with good yields and prom
ising outlooks.
Transit Again Goes Higher.
Capital Transit scored another
new peak on the Washington
Stock Exchange today when As
shares opened the market at 81.
At noon, 81 was bid for the stock
and 38 asked.
Transit sold on the New York
Curb last Friday at 3634, at that
time a new peak on the present
move. The stock has been the
surprise of the financial district
during an advance of several
weeks. The years low is 2312.
Capital Transit sold on the New
York Curb today at 377s. a week
end gain of 11s points.