Evening star., 1951-03-27


rose to s1,455, $3.50 from $1.058,271,
or more than the gain in gross in
come.
Expenditures for capital i'm
provementS in the year came to
$382,074 VS.. $211,424 in the previ-
GUS year. Directors authorized
payments of 100000 in addition
to the fixed amount of 100000
payable on the corporations loan
during the year. This loan now
has been reduced to $500,000 from
the original principal amount of
SIT million.
Hilton Hotels Corp, also headed
by Mr.. Hilton, and owner of 69.81
per cent stock control of the May
flower, reported consolidated net
income of $4,035,646 or $2.56 a
share for 1850 VS.. $3.983, ,233 or
$2.52 in 1949. The parent COM
pany's report did not include May
flower net in the consolidated re-
port, but stated its share in May
flower earnings in the year came
to $291,267 after dividends of
$108,754.
Southern Issues Report.
Southern Railway reported net
operating income of $3,752, ,985 for
two months of this year, compared
with $3,588,591 a year earlier. Bal
ence after charges was S2,038, ,222
VS.. s1,715.506.
February net operating income
of $1,448.782 was below $1,667,-
O82 year earlier, while balance
after charges was $602,540 VS..
$741, ,796.
Operating revenues for the two
months were $40,732,515 VS.. $34,-
O31,227 a year earlier, while those
for February amounted to $18,-
959,493 VS.. $16,377,04
Seaboard Air Line Railroad re-
ported February net income of
$663, ,633 or II cents share, after
deduction of sinking and minimum
capital funds, compared with
$439,9l1 or As cents in February,
1850. Net for two months this
year was $1,714,317 or $1.87 VS..
1897, 1916 or 96 cents a year earlier.
Bank Declares Dividend.
Directors of the Bank of Com
merce & Savings today declared
a regular quarterly dividend of
$3.50 a share, payable March 80
to stockholders of record March
20, President Thomas j. Groom
announced. The stock has been
on $12 annual dividend basis
for some time.
Kaiser Industries has moved its
Washington executive Offices toI
Suite 901, Cafritz Building, 1925
I street NV. Vice President Chad
F. Calhoun announced. James j.
Hanks is administrative assistant
and H. Walton Cloke director of
public relations.
The annual report from Ameri-
can Home Products Corp. revealed
that 26,432 of the company's stock
were held by 243 residents of the
District of Columbia on December
IA, 1850. This was 1.39 per cent
of the outstanding 3,871,735
shares. The company earned SILL
844,030 or $3.08 a share in 1850 VS..
s10,673,161 or $2.77 in 1949.
John G. Quick has been named
general agent for the 500 Line
Railroad here, effective April l..
A native of Arlington, he attended
William and Mary College and
started with the 500 in 1899 as
general agent at Winston-Salem,
N. C.
Transit Economies Boost Net.
Reduced operating expenses and
higher fares more than Offset a
decline in passengers to increase
net income of Capital Transit Co.
In February and two months of
this year.
February net was $120,304 VS.. a
deficit of S46.554 a year earlier,
while net for two months reached
S230,874 in contrast to a loss of
s49,767 in the same 1850 period.
Operating revenues of $2,193,-
b37 for February were 9.3 per cent
above a year earlier, while oper-
ating expenses of $1,601 sos were
down IA per cent. Operating
revenues for the two months came
to $4,584.S8O, a gain of S.3 per
cent, while operating expenses of
S3,375,754 were down So per cent.
Revenue passengers in February
totaled 20,091, ISL, decline of 7.9
per cent, and for the two months
aggregated 42,181 ,246, a decrease
Of 81 per cent.
Gas Light Officials Praised.
Officers and directors of the
Washington Gas Light Co. were
yratified by evidence of their
stockholders goodwill at the an
nual meeting yesterday when the
proposed increase in authorized
common stock to is million shares
from 100000 was approved.
More than 80 per cent of the
outstanding stock, 598,362 shares,
we're represented either in person
,r by proxy, and more than 70 per
cent of the outstanding stock was
1oted in favor of the stock in
.rease. An amendment to the
:ompanys pension plan also was
approved.
At the end Of the meeting,
Bruce Baird, president of the Ma
;ional Savings & Trust Co., moved
hat stockholders go on record as
;ongratulating the management
m results of the past year. His
notion passed unanimously.
Directors declared the usual
quarterly dividend of SLIPS a
hare on $3.50 cumulative con-
rertible preferred stock and a
dividend of $10625 on the $4.25
cumulative preferred, both payable
1ay 10 to holders of record April
IS; also a quarterly dividend of
712 cents on the common, pay
Ible May ! to holders of record
ipril 20.