Evening star., 1926-10-06

IS at s0H.
Lincoln Bank Greatly Improved.
Extensive changes and improve
ments are just being completed in the
Lincoln National Bank, on Seventh
street, the renovations and innova-
tions being so marked that even the
oldest. depositors wonder If they have
entered the right bank. Several coats
Of colonial yellow paint have made
the exterior look like a different build
ing, the old landmark standing out
amid it's venerable surroundings like
newly painted ocean liner pulling
into the dock.
The interior, however. has seen
the greatest changes. The mezzanine
has been removed entirely, and all
the work done there in the past trans
ferred to the spacious second floor,
where there is abundant space, eX-
callent lighting and ventilation. On
this same floor, across the front,
is q new room for the directors. How
much this was needed is shown by
the fact that the banks former quar-
ters were so cramped that the direc-
tors for years had to meet In a build
ing across tho street.
It Is possible that the hank may
branch out still further and use the
upper floors of the building, such a
move being under serious considera-
ton. The bank still needs more cage
space, although none Is available.
Removal of the meZzanine, however,
has made the lobby far more attrac-
tive as we'll as supplying better light
and air Scores of minor changes
have been included, and the interior
decorators are we'll along in trans
forming the appearance of the entire
bank The officials are more than
pleased with the results of the general
overha uling.
The Lincoln Bank seems to be Wy.
ing with the Bank of Commerce and
Savings for beauty honors. Only a
block away. the second named bank
has already made more changes in the
front than Henry Ford ever contem-
plated on his cars. At any rate, the
two banks are giving their section of
Seventh street a distinctly new air OF
prosperity.
Building Association Elects.
The National Permanent Building
Association has elected the following
officers and directors for the ensuing
year: President, William Newland
vice president, Robert E. Buckley; sec.
retary, Roland NJ. Brown; treasurer,
Millard 7. Dixon; directors, Adoiph
Levy, John B. Geier. John Mainberg,
Harry Lansdale, J. Leo Kolb, George
Menke, Harry NJ. Packard, William
Briggs and Joseph f. Zegowitz.
The vice presidency and one new df'
rector are the only changes in the Or
ganization. r. E. Buckley, now vice
president, has been on the board of
directors for the past ten years. Jo-
seph Zegowitz, we'll known in business
and fraternal circles, is the new men,
ber Of the board.
The work of completely remodeling
and refurnishing the interior Of the
banking room and offices of the asso.
citation is about completed and when
finished they will be among the finest
and best appointed in the city.
The board voted an extra one-half
of per cent dividend to depositors,
making the dividend sig per cent for
this year.
Early Florida Recovery Seen.
Damage to business concerns in
Miami is quite great. but numerous
establishments are open and trade in
necessaries has been brisk right
along" says a credit survey of south.
ern Florida just completed by a spe.
cial representative sent to that To-
cality by the National Association of
Credit Men, which has an active
branch in Washington.
Interviews with numerous bank
ers. building supply men. hardware
furniture and plumbing dealers, as
well as department store owners in
Miami, reflect optimism for early re-
covery. Up to now it Is almost i'm
possible to check the damage to indi-
vidual firms. and creditors are there.
fore advised to cooperate with local
banks and local credit mems associa.
tions for individual reports. Calcula-
ton of damage in the furniture field
is exceedingly difficult, for these deal.
ers were hard hit through great dam
age to their stocks.
Caution should. therefore, be eX-
ercised in selling newer firms and
those which were slow in paying be-
fore the storm. Similar advice ap'
plies to grocers as we'll as furniture
are certain to fail and the weaker
jobbers are likely to suffer greatly"
More Peoples Drug Stores.
Peoples Drug Stores, Inc, has ac-
quired. the chain of three drug stores
in Norfolk, Va. formerly operated by
the Truitt Drug Co., thereby increas-
ing the total number of is stores to
38. Peoples will have four stores in
Norfolk as a result of this acquisition,
having purchased it's first store there
a few weeks ago. This acquisition is
in line with the company's expansion
program announced at the close of
last year, when it had in operation Is
stores, all located in Washington.
Since the first of the year 20 stores
have been added to the chain, which
is expected to add approximately ST.
900 00Ut to the annual volume of sales.
Four of these new stores are situated
in Washington and the remainder In
Virginia, West Virginia, Maryland
and southern Pennsylvania.
Negotiations are reported under
way for the acquisition of several ad-
ditional stores. having an annual sales
volume in excess Of $1.000,000. They
are all located outside of Washington.
Earnings during the first half of
1926 amounted to $226.474. equivalent
after payment of preferred dividends
to s1S6 per share of common. For
the same period of last year, net earn
ings were $215,749. or $1.75 per share
of common. Profits for the first six
months were not fully benefited by
the new store acquisitions, since they
were acquired in the latter part of the
period, and the company received only
such earnings as accrued from the
time of acquisition. 1t is estimated
that earnings for the full year will be
in excess of 81 per share Of common
stock.
Bank Dividend; Other Notes.
The directors of the National
Metropolitan Bank have declared the
regular semi annual dividend nav
able on October Is. Books for the
transfer of stock were closed today
and will remain closed until and
including october IA.
Robert n. Harper. president of the
District National Bank, was among
the Washingtonians who journeyed
To Philadelnhia today To attend the