The method developed by Stock & Stock (1999RMxAA..35..143S) for stars of spectral types A to K to derive absolute magnitudes and intrinsic colors from the equivalent widths of absorption lines in stellar spectra is extended to B-type stars. Spectra of this type of stars for which the Hipparcos catalogue gives parallaxes with an error of less than 20% were observed with the CIDA 1-meter reflector equipped with a Richardson spectrograph with a Thompson 576x384 CCD detector. The dispersion is 1.753{AA}/pixel using a 600 lines/mm grating in the first order. In order to cover the spectral range 3850{AA} to 5750{AA} the grating had to be used in two different positions, with an overlap in the region from 4800{AA} to 4900{AA}. A total of 116 stars was observed, but not all with both grating positions. A total of 12 measurable absorption lines were identified in the spectra and their equivalent widths were measured. These were related to the absolute magnitudes derived from the Hipparcos catalogue and to the intrinsic colors (deduced from the MK spectral types) using linear and second order polynomials and two or three lines as independent variables. The best solutions were obtained with polynomials of three lines, reproducing the absolute magnitudes with an average residual of about 0.40 magnitudes and the intrinsic colors with an average residual of 0.016 magnitudes.