Evening star., 1952-12-24

and despite
heavy payments Z
to Uncle Sam,
net income
after, taxes =
probably will Mr.. Bosley.
exceed the previous year, Mr..
Bogley said. y...,-.. 81
Stockholders will hold their an
nual meeting at the Bethesda Of
flee on January IL. The semi
annual dividend of rs cents a
share and an extra of so
cents will be paid Saturday. En-
ployes have received the usual
Christmas bonus.
Southern Railway Offering.
Southern Railway Co. will mar
ket $40 million of bonds January
% as the third step in a pro-
gram to retire $50 million of
debt maturing in the next four
years, the road announced yes
terday.
The refinancing program start
ed with the marketing of So mil
lion of New Orleans Terminal
Co. bonds December 4 and SIS
million Of Southern RailWay-NeW
Orleans & Northeastern joint
bonds were sold a week later.
Securing the third offering will
be properties of Southern's st.
Louis-Louisville Division.
Phone Expenditures Approved.
Directors of Chesapeake & Po-
tomac Telephone Co. have ap-
proved expenditures of $2,937 900
for improvement and expansion of
District telephone facilities, in
creasing 1852 authorizations to
$12,746,000.
Included in the latest authori-
zation was $4,000 for installa-
ton of additional equipment in
the company's downtown, Georgia,
Dupont, Woodley and Lincoln Of
fees to meet demands for service.
Gifts for Mode Employees.
The Mode, Inc, is distributing
Christmas gifts in cash to en-
ployes of both of its mems wear
stores, including holiday con-
tingent workers.
President Walter Nordlinger re-
ports 1852 has been an excellent
year and predicts brisk business in
the first half of the coming year.
At the annual Christmas party
of employees of the Cherner and
Shirlington Motor Companies, the
usual Christmas bonus was dis
tributed. Leon Cherner and Sam
uel MenSh, partners in the firm,
were hosts. ,-.. ,
Big News for Business.
The steel strike and the, Su-
preme Court decision outlawing of
President Truman's seizure was
the top business news story of 1852,
according to a poll of ITO office
managers of Merrill Lynch, Pierce.
Fenner & Beane. Francis C. Hunter
is the firms manager here.
The survey excluded general
news developments such as the
Eisenhower election-"the indis-
putable No. national event Of the
year" It also excluded the Korean
war and hydrogen bomb develop
ments.
Other major events were picked
in the following order: Commodity
price decline with bumper crops.
despite costly drought: relaxation
of Federal controls; higher interest
rates and the tightest money mar
ket in decades: Canadian dollar
at premium over United States
dollar; coal wage case and col
lapse of Wage Sterilization Board:
stock market at new 22-year high,
although exaggerated by imitation.
Acacia Employees Honored.
Employees of Acacia Mutual Life
Insurance Co. yesterday were
awarded a Treasury citation for
10 years participation in the
payroll savings plan and pur-
chase of nearly 81 million of
bonds.
Edward c. Baltz, chairman of
the District Savings Bond Division
presented the award at the an
nual Acacia Christmas party
Howard w. Kacy. executive vice
president of Acacia, received the
award for Acacia employees.
Heads Community Relations.
H. M. Cunningham. Washington
district sales manager for the
Lincoln Mercury Division has been
elected chairman of the Ford
Motor Co.'S Washington Com
lnunity Relations Committee for
the coming year.
The committee has been organ
ked to coordinate activities of the
Ford Motor Co. and its divisional
Offices of this area. 1t will review
requests for company contribu-
tions and participation in COM
munity projects.
Dewey Turner, a driver for the
Security Storage Co., was initiated
into the company's 25-Year Club
at the annual Christmas party.
There now are IA members of the
club. Four company officers are
members.
New York Central Agent.
Henry. K. Genett has been
named to the new position of dis
rict passenger agent for the New
York Central Railroad. He will
be in charge of the passenger traf-
nc department here.
Charles E. Hayward, jr., who
represents the Chemical Bank g.
Trust Co. of New York in the
Philadelphia. Baltimore and Wash
ipgton areas. has been elected a
vice president Of the bank. His
headquarters are in New York.