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EMERSON TRUST CO. MAY OPEN ON SEPT. 1
National Bank Of Baltimore Expected To Reenter Building At Same Time.
The new Emerson Trust Company will open its doors for business September 1, it is expected, and at the same time the National Bank of Baltimore will be reestablished in its building on the northeast corner of St. Paul and Baltimore streets, which is being extensively remodeled and enlarged. Announcement of the officers of the new trust company will be made shortly.
Work on the bank building, the basement of which will be occupied by the trust company and the upper floors by the bank, is proceeding rapidly. A feature will be the large vault which will be part of the equipment of the trust company. The 46-ton door of this is already hung, and is said to be the largest vault door in any bank in the United States outside of New York.
Another feature, unique among Baltimore banks, will be a lunch service for all employes of the bank, with large dining room, kitchen, serving rooms, etc., on the upper floor. It is the plan to operate this at a loss in order to give employes good food for their lunches.
"At present," said T. Rowland Thomas, president of the bank, "a bank employe rushes off to some lunch room, grabs a couple of sandwiches, some coffee, and probably some sweet stuff, and pays 60 or 70 cents for it. He is rushed at it, doesn't enjoy it, and when he comes back he doesn't do as good work as if he had had good food and leisure to eat it in.
"When a man has started in to work at 7.30 in the morning by the time lunch time comes he ought to have something good to eat. It will be our aim to give the employes the best food we can buy, and give it to them cheaplyβmuch cheaper than a lunch or dinner can be bought in any restaurant. If we take a loss on it, we feel we shall be repaid by the increased efficiency and better spirit among our employes."
Willard Sails For Europe.
Daniel Willard, president of the Baltimore and Ohio Railroad, expressed himself as optimistic for the railroad outlook just before sailing for Europe today on the steamship Mauretania, according to a dispatch from New York. Mr. Willard predicted a continuation of record business for railroads until the beginning of winter this year.
"The business situation in this country," he said, "is encouraging at present, particularly from the standpoint of the Baltimore and Ohio. It would hardly be right for me to say that conditions will improve generally, for, as a matter of fact, they have been so good that I anticipate a slackening up, which will probably be a good thing for the roads."
Telephone Companies Gain.
Large increases in the earnings of 70 telephone companies appeared in the reports submitted to the Interstate Commerce Commission for April. The earnings for the month and four-month period to April 30, together with the increases over the corresponding periods of 1922, follow:
Aprilβ Increase.
Operating revenue..... $53,602,816 $5,765,619
Net operating revenue.. 16,725,091 2,451,115
Operating income....... 12,173,142 1,707,451
Four monthsβ
Operating revenue..... $210,723,542 $22,041,534
Net operating revenue.. 66,353,831 10,591,736
Operating income....... 48,225,509 7,736,354
A. C. L. To Spend $26,000,000.
Stockholders of the Atlantic Coast Line Railroad, with their July dividend checks, today received a report on expenditures for equipment and improvements to property. Expenditures, it was stated, have been authorized to the extent of approximately $26,000,000, as follows: 5,331 freight cars, $9,000,000; 101 passenger train cars, $2,300,000; 98 locomotives, $4,500,000; doubling tracking and grade reduction, $5,900,000; shops and shop facilities, $1,800,000; yards and other facilities, $1,300,000; 30,000 tons of 100-pound rail, $1,200,000. On June 1 bad-order freight cars had been reduced to 7.5 per cent.