Evening star., 1955-07-21
Vepco Earnings Top 1854
In June nd12Months
BY DONALD b. HADLEY

BY DONALD b. HADLEY
Net income Of Virginia Electric
& Power Co. totaled s1,505. .43l
or 1873 cents q share in June.
compared with $l,304, ,988 or 1876
cents in June, 1854. the company
reported today.
Net for IL months ended June
80 was $lS.346.073 or s2.44 a
share VS.. $14,394.5s1 or $2.02 in
the same 1854 period.
June revenues totaled $685. :
O22 VS.. $7,734,182 and IL months
revenues rose to $101 ,087 ,204
from $89, ,909.5 =
Bank Stocks Traded
Two transactions in bank
stocks attracted much attention
on the Washington Exchange
Branch of the Philadelphia
Baltimore Stock Exchange today.
A block of 800 shares of Union
Trust Co. was transferred at $34
a share. of a point from the last
previous price. Most bank stocks
are closely held here and the
exchange seldom sees this large
a deal in that sector.
Lincoln National Bank shares,
which were last traded on the
exchange in 1858, brought $50 a
share on transfer of so shares.
AS the shares were split 4-for-
/ and Is per cent stock dividend
was distributed early this year,
the latest price is equivalent to
$400 a share on old stock which
traded last on the exchange at
$265 a share in 1858.
Insurance Sales Rise
Sales of ordinary life insur-
ance in the District of Columbia
exceeded a year ago in both
June and the first half of 1855,
the Life Insurance Agency Man.
agement Association announced
today.
June sales of $13,2O6,0 1000 were
UP 6 per cent and six months
sales amounting to $77,858, 900
were 3 per cent higher.
Sales across the Nation were
up % per cent in June and 18
per cent higher in six months.
Maryland sales were up 81 per
cent and 20 per cent, respectively.
Virginia sales were up Is and
40 per cent.
b. g. o. Profits Improve
Baltimore 81 Ohio Railroad had
net income of more than $2.9
million in June, an increase of
about $1.2 million from June,
1854, President Howard Simpson
reported after a board meeting
In New York City.
Earnings for six months this
year were around $12.6 million,
an increase of nearly $5.4 mil
lion from year ago, he said.
John Edwards, jr., will retire
as general manager of the roads
Eastern region on July 81 after
A years of service.
Nelson Smith Elected
Nelson L. Smith, member oi
the Federal Power Commission
for nearly IL years. including
three years as chairman, has
been elected vice president
economics of American Air
lines.
Mr.. Smith served on the New
England Governors Railroad
Committee and the New Hamp-
shire Public Service Commission
before becoming chairman of
the Board of Investigation and
Research here, under the Trans
portation Act. He became a
member of the FPC in 1943 and
served until June % this year.
Director of Call Carl
Albert E. Branson, formerly
controller of the American In
strument Co., has been elected
a director Of Call Carl, Inc, and
Call Carl Motors. Inc. and has
been named treasurer of both
corporations.
President Edmund o. Carl said
Mr.. Branson will have charge OF
all financial, accounting and
credit policies of the companies
A resident of Washington for
many years, Mr.. Branson is a
graduate Of Benjamin Franklin
University.
Payne Named to Board
William D. Payne has been
elected director of the Wash
ington Title Insurance Co.
Mr.. Payne is attorney for the
National Capital Insurance Co
and has law Offices in the Per-
petual Building. He is a native
of Washington and a graduate
Of the University of Maryland
and the George Washington Uni
versity Law School. He served
in the Navy in World War II.
Buys Golden Interest
Albert Small, Woodwar d
Building. announces he has ac-
uuired the interest Of s. E. God
den in the firm of Golden &
Small and changed the name OF
DIVIDENDS