Evening star., 1951-11-28

He was president Of the former
Norfolk & Southern Steamboat
Co. for about 20 years.
Walter Truland, Arlington elec-
trical contractor, has been added
to the Terminal Refrigerating
board. James ]. Hughes is presi-
dent Of the corporation.
IBA Pushes Legislation.
State laws regulating the sale
Of securities were widely amended
over the Nation in 1851 and both
security dealers and investors are
better safeguarded in many States
as a result. the Research Com
mittee of the Investment Bankers
Association reported at the an
nual IBA convention at Holly
wood. Fla, today.
The IBA took an active interest
in new laws passed in Arizona
and North Dakota and in proposed
legislation in New Mexico and
Tennessee. Amendments to laws
have been made in California,
Connecticut, Florida, Idaho, In
diana, Minnesota, New Hampshire,
Oklahoma, Oregon and Wisconsin.
Legislation in Illinois has been
proposed.
The committee emphasized that
protection Of investors against
fraud. with a minimum of re-
straint on dealers, was achieved
best by making sure Of the quail
fications Of the dealers. The Edu-
cation Committee reported that
the IBA seminar at the University
OF Pennsylvania last year was
successful and again is under con-
sideration.
Seaboard Net Dips in October.
Seaboard Air Line Railroad had
net income OF s734 1886 or 79 cents
share in October VS.. s855,310 or
94 cents in October, 1850, the road
reported. Net for 10 months this
year was $8,410,794 or 1915 a
share vs.. s7,s9S,395 or 1856 a year
earlier.
October gross revenues totaled
$11.803. $40 VS.. $11,213,504 a year
earlier, while 10 months revenues
amounted to $123,7S9, 101 VS.. $1O9,
617,927.
Directors have determined tenta-
lively to make the minimum
capital fund appropriation for the
year 1851. However, under pro-
visions Of the general mortgage,
they may at any time on or prior
to April 25. 1852, finally determine
to appropriate from income the
maximum instead of the minimum
capital fund for that year.
Pennsy Personnel Supervisor.
To implement the board reor-
eanization Of its personnel de-
partment and new plan to ex-
pand and intensity employe re-
lations activities, the Pennsylvania
Railroad has appointed Clarence
H. Bisbing of Chicago as super
visor OF personnel for the Mary
land division.
Mr.. Bisbing. who has been with
the Pennsy since 1910, will bring
to his new position long expert
ence in this and related work.
He has been chief clerk to the
general superintendent, motive
power. western region, at Chicago.
He will handle relations be-
tween management and labor Or
ganizations, with headquarters in
Baltimore.
Pontiac Models Shown.
New 1852 Pontiac models we're
displayed to more than 300 deal
ers and salesmen of the Washing
ton area at a sales meeting at
Hotel Statler today. The new
cars will be displayed in dealer
showrooms here beginning Mon
day.
The Statler meeting was under
the direction of E. j. Chapman,
eastern assistant general sales
manager. Other executives at
tending were j. H. Otis, acces-
sories manager; B. A. Kissam,
eastern regional manager, and j
c. Bates, Washington zone man
ager.
Important engineering develop
ments and other features of the
1852 cars were discussed along
with distribution plans for the
coming months. Similar meetings