Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-02-26

DOV JuIvuyCS NCI
| OF 81 Million Despite
January Revenue Cut
Baltimore and Ohio Railroad
today reported net income for
January was $1,076.16 $701 SAT
below that of January, 1853.
In the same comparable peri
DDS operating revenues dropped
$5,39S,080 to 31.719,178.
Operating expenses were cut
from $29,811.186 in January,
1858, to SOS, 998,918 in January
this year.
The line laid off about 1000
employees or 20 per cent of its
force in January. About $500
were called back February /, and
since then more have returned in
small punches.
Inc layof1S were large factor
in saving $3,812,268 on mainte-
nance of way and structures,
maintenance of equipment and
moving trains. Taxes we're $719,-
391 lower.
Cos Light Profit Up
Washington Gas Light Co. in
the year 1858 reported a rise in
net income to $2,721, 300 from
$1,000 in the previous year.
President Everett j. Boothby
said earnings applicable to the
company's common stock, after
giving effect to the adjustment
in the cost of gas were equiva-
lent to $3.50 per share on the
942,361 shares outstanding at
the end of the year. This COM
pared with $251 on the 844,93O
shares outstanding at the close
of 1852.
Because of the reduction in
the cost of natural gas" he pre-
dlcted, some adjustment may
De required in the amounts we
have collected from our custom
ers. Any such adjustment would
reduce the earnings reported
herein"
The reduction in wholesale
prices of gas charged by the
Atlantic Seaboard Corp. came as
a result of protracted rate pro-
ceedings before the Federal
Power Commission. The COM
pany will receive a refund of
approximately $1,488,000 repre-
sentlng a reduction in the cost
OF gas bought since March. 1852.
About $1,251 900 of the refund
relates to the year 1853.
| During the year. Mr.. Bothbv
said, more than $4,000 new Gus
toners were added, and sales
increased for the 31st consecu-
tive year.
Bank Looms Decline
Fifth District Banks business
loans showed a small decrease
last week, according to the Fed
eral Reserve Bank of Richmond.
commercial. industrial and
agricultural loans of so repre-
sentative banks fell $3,994. 900 in
the week ended February II, re-
duclng the amount outstanding
TO S626,589,000. The decline since
January l this year has been
S25.8 million. in contrast to a
decrease of S36.1 million in the
same period a year ago.
Total loans on ii WASHINGTON
banks, however, rose from S377.-
$4,000 in the week ending Feb
ruary to S378,991 900 in the
week ending February II. Time
deposits here increased from
S2l4,420,000 to S2l5,357, 900, and
demand deposits increased from
S893,879,0O0 to 5000, 100000.
Pepco Dividend
! Potomac Electric Power ca.
has declared a dividend of As
cents on 3,6 per cent preferred
stock to stockholders of record
March 8, payable April /. Divi-
dend of IS cents on common
stock also was declared to stock
holders of the same date. paw
able March 81.
The Board of Directors of
julius Garfinckel & Co. has
declared the regular quarterly
dividend of 343s cents a share
on the company's outstanding
SIG per cent convertible preferred
stock payable March 81 to stock
holders of record March Is. Also
: the company declared the regular
quarterly dividend of 281s cents
a snare on outstanding Az per
cent convertible preferred stock
and quarterly dividend of 3712
cents a share on common stock.
both payable the same date to
stockholders of record March is.
Soleswomon of Month
Mrs. Kate Beckerman, sales
woman at Lansburghs depart
ment store was selected as
"Saleswoman of the Month" by
the Washing -.
! ton Sales EX-
ecutive Club. ,s.s,.ssssssa
She was cho-
sen from
group of NOM
lneeS whose ~ $$$
names were
submitted to