Evening star., 1950-03-23
1949 Operating Profit
OF Capital AirIines
Boosted 10 S1,319,437
By Edword G. Stone

erdClng prONC OF 1873 ,43I IN l949
as compared to $835,118 in the
preceding year, j. H. Carmichael,
president, announced today.
Net profit after taxes from op-
erations amounted to $834,178 or
sta per share on common stock
In addition, profit of $847,493
was realized through the purchase
Of debentures for sinking fund
payments. Net income trans
ferred to earned surplus totaled
sl,681,671.
Capitals 1949 operating reve-
nue. was the highest in it's history
--S26,905 1886, an increase of S.
SCOTIA or Is per cent over 1s48,
the previous peak.
Gas Dividends Declared.
The Washington Gas Light Co.
has declared the regular quarterly
dividend of 37l2 cents per share
on the common stock; also the
quarterly dividend of $1.12a a
share on the $3.50 cumulative
convertible preferred and $106A
on the $425 cumulative preferred.
The common dividend is payable
May l to stockholders of record
April IA and the preferred pay
ments on May 10 to stock OF rec
ord April 25.
Hecht Co. directors have voted
the usual quarterly dividend of
90 cents per share on the pre-
ferred stock and 40 cents on the
common, both payable April 20
to stockholders of record April g..
In selling up to 327s on the
Washington Stock Exchange,
Hecht common is getting close to
the high for the year. Both price
and volume of trading have re-
Gently increased notably.
Chamber Aids Businessmen.
Businessmen who want to sell
goods to the Government have
some of their knottiest problems
simplified in a 64-page guidebook
published today by the Chamber
OF Commerce of the United States.
entitled Selling to the Govern
ment."
Procurement operations are ex-
planned and agencies which make
major purchases are listed. The
businessmen is told which agency
commonly buys what he makes,
where and how these products
are bought and what kind of
purchases are being made cur
rently.
The Government spends more
than $6 billion a year for new
supplies and equipment. There are
more than 100 buying agencies
in Washington alone and scores
of others elsewhere in the country.
Slattery Gets High Honor.
D. Bobb Slattery, native of
Washington, graduate of South
eastern University and former en-
plo.S of the Acacia Mutual Life
Insurance Co., has been elected
vice president and superintendent
of agencies of the Penn Mutual
Life Insurance Co.
Mr.. Slattery was with Penn Mu-
tual for 16 years from 1924 to 1910,
now being vice president of the
National Life Insurance Co. of
Vermont. He. is a former presi-
dent of the Life Insurance Adver-
tisers' Association which he helped
found
Banking Bills Passed.
Two bills sponsored by the Vir-
ginia Bankers Association were
passed recently by the Virginia
Legislature. One was House bill
81, which substituted the ABA
model statute on delayed posting
for the law enacted in 1948. The
other, Senate bill lit, provides
for the admissibility of photo
graphic records as evidence in
court.
Carl Goerch, editor of the State
Magazine, of Raleigh. N. c., spoke
on political and economic trends
at a. recent meeting of Virginia
bankers at Norfolk. He said in
his opinion the country is headed
down a one-way road to state
socialism and unless a halt Is
called to this trend soon, it will
be too late to turn back.
Brokerage Offices Crowded.
New York Stock Exchange
Offices in Washington were crowded
at the opening today, following
yesterdays 1000. .000-share session.
Brokers say there is more inter-
est in the New York Stock Ex-
change now than in many months.
Assets of the Acacia Mutual
Life Insurance Co. in 1949 in
creased by more than S16,000,000,
amounting to 5000 100000. Nearly
$112,000,000 of the company's as
sets has been made available to
persons who bought, built, re-
financed or improved real estate.
From this amount, S36,500,0O0 has
been loaned in the Washington
metropolitan area.
The Safe Deposit Section of
the District Bankers Association
will hold dinner meeting at the
Lafayette Hotel, next Tuesday
evening, Mrs. Murdette H. Mon
roe. chairman, announced today.
The Washington Office reports
that the Southern Pacific has or
dered another s17,500,000 worth
of new diesel locomotives.
The Prince Georges Bank g.
Trust Co. will be open from 4 to
$50 pm. tomorrow. in addition
to its regular hours. because of
closing on Saturday in observance
of Maryland Day, legal holiday,
&ha ho,,E oppourooI foIov