Evening star., 1950-05-26
Little Stock for Public.

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Little Stock for Public.
All but 33,S53 shares of ths
Potomac Electric Power offering
of ,710,700 additional shares were
unsubscribed by present holders
the underwriters reported today.
More than 95 per cent of the
rights were taken up. an excep-
tionally high percentage. The
underwriting group distributed the
balance of the unsold stock today
to be offered the public at $15.12k
q share.
Strike Cuts b. & o. Net.
Net income of the Baltimore &
Ohio Railroad in April totaled
$1,609,573, compared with $1,623,-
S26 in April year ago. decrease
of $l4,253, 1t was announced to-
day.
Gross revenues of $32,794, 4,842
were down $7S1,312, compared
with last year. Operating ex-
penses of $25,937,113 were $780,
408 lower than a year ago.
Operations for the four months
of 1850 resulted in a net income
of $1,410.2S5, compared with $4,-
676,392 last year, a decrease OF
$3,266,107. rejecting the coal
strike in February and the three
day work week in January.
Southern's Income Rises.
Net income of the Southern
Railway System in April amount
ed to 81, 1873 ,292, a substantial gain
over the net returns of $846, 1888
in April a year ago. officials an
nounced today.
In the first four months of this
year Southern's net operating in
come reached $8.604,22 compared
with $6,400.380 in the like 194e
period.
This good showing left a net
income for the four months o1
$4,863.532 compared with $2.564,-
991 year ago.
Stubblebine Heads Group.
Warren G. Stubblebine, a re-
search director in the Quarter
master Generals Office, has been
elected president of the Wash
ington Rubber Group.
Other officers are T. r. Scanlon,
Gates Rubber Co., vice president;
Richard E. Harmon, Connecticut
Hard Rubber Co., secretary; Ev-
erett G. Holt, Office of Domestic
Commerce, treasurer, and Ethel
Levene. Bureau of Ships, record
ing secretary. The new president
succeeds j. r. Devereaux, of the
B. F. Goodrich Co.
Glenn G. Lamar of Pittsburgh
has been elected vice president
and superintendent of agencies of
the Reliance Life Insurance Co.,
according to Lawrence w. Brown,
jr., manager of the Washington
Office. In % years with the COM
pany, Mr.. Lamar rose from an
agent to the top agency executive
position.
William K. Divers, chairman of
the Home Loan Bank Board, says
building and loan associations
took in net savings amounting to
SAB million in the first four
months of 1850, or per cent
more than a year ago.
Transit's Net Declines.
Net income of the Capital Tran
sit Co. in April totaled $80,556, or
28,840 less than last year, drop
Of IS per cent. according to the
report filed today with the Public
Utilities Commission.
Operating revenues of 81. .294 ,295
were of 8 per cent. Operating ex-
penses were $187,42 lower than
last year, or 10 per cent. Total
passengers declined 1873 per cent
and total miles operated 6.3 pei
cent.
In the four months this year
net income amounted to 1855
q decrease of $246,925 from the
same months last year, of 79 pei
cent. Passengers declined 10.7 pei
cent and total mileage decreased
per cent.
Total operating revenues were
$8.814.625. down $773,697 or 8 pei
cent from a year ago. Operating
expenses were reduced by $528, ,831
Directors of Peoples Drug Stores
Inc. today declared the usua
quarterly dividend of so cents pei
share, payable July to stock o.
record June g..
Peoples Elects Directors.
Two new directors of People.
Drug Stores, Inc. were elected
today, j. Louis Gundling anc
Walter H. Hawes, one filling tht
vacancy due to the recent deatt
of r. Carl Mitchell. The other j,
an addition, the number of direc.
tors being increased from nine tt
10. Both men have been with
Peoples for many years as buyers