Evening star., 1928-03-16
Peoples Drug Pfd. Sells Off.
Washington Gas Active
and Strong.
BY EDWARD c. STONE.


Of s pcr cent The common stock cloSet
III the New York Curb yesterday q
SO while the warrants OIL the preferret
permit tho purchase Of this stock at 90
Washington Gas was very active, |,
Saics bring recorded. most Of them a
fq',. alilloueh the market closed a
SQ2, Capital Traction, following yes
;cc6ay'S merger approval by the stock
holders. opened today at 1o934 anC
closed at i09i,, on very light trading
Seventv-iiVe shares Of Railway & Elec-
trlc preferred changed hands at l0S3s.
The heaviest trading of the day was
II. LanStou Nonotype, lel shares being
sold q l00-Share block being the high
*0r The session. l09l4. Twenty shares
ot Mergen:haler Linotype sold OF &c
I02}, this stock now being eX dividend
The other leaders were firm, as were
bonds. Chapin-Sac&s s per cent pre-
fcrred climbed to lois III the unlisted
department.
Fifth District Rediscounts Gain.
Fifth District Federal Reserve opera
tionS for the week ending "Wednesday
showed rcdiscountS on the increase, the
total rising 10 $27.S45 600 from $24,-
SO 200 for the previous week. The
Richmond Reserve Banks ratio stooc
at 66.24 per cent. against 10,34 a week
aEo. Fer the system as whole the
ratio stood al 6S24 per cent.
Brokers loan jumped $50, ,355 900, re-
fectiug the immense volume OF stock
trading and soaring prices of the past
week. The announcement Of the Federal
Reserve Board showed total loans OF
S3.7z6o64 900. This compared with a
peak for ali time of sS,655, 100000 estab-
ilsiled on February s.
Drug Stores 1927 Sales Gain.
Peoples Drug Stores. Inc, reports for
the year ended December 81, 1927, net
rrntit OF S4S5693 after charges and
taxes. equivalent after preferred
dividends 10 S374 a share earned on
100. 900 no par common shares. This
compares with S43l.769 or S35i share
in 1926. Net sales were S8.i29.7l
against s6,342 692 in previous year.
Income accoun; for the year ended
December 81, 1927, compares as follows:
se, sale. .ssis5..lo is5: so.5ss 5a:S S5o2
ega1 s,s'51 ,szes @-..' -: i 4ss 500 4s5.5oa 3sa
sorp,us .. s374.ols S35i789
Current assets on December 81 last
were sI.557.32o and current liabilities
s5oe.iS5. showing net working capital
OF SIo49lz4. an increase OF S386,259
during the year.
Luncheon Given Bank Contractor.
In the new dining room Of the recent
II completed addition 10 the central
Office building Of the Washington Loan
& Trust Co, a luncheon vas given by
the president. John B. Larner, in honor
Of Frederick II. Thomas. who has super
intended the construction and remodel
ing of the bank at Ninth and streets
for the contractors, Hoggson Bros OF
Sew York and Chicago
Ifr. Thomas successful completion oi
q task that has engaged his attention
for a year ard a half was praised b!
Mr.. Larrer. who presented him on be-
hall Of the officers and directors OF the
company with gold watch as token
CT appreciation. Other guests invited
we're the chairman Of the board. John
JOY Edson Harry @. Mecn. vice preSi-
dent: Charles r. Grant. treasurer; AL
fred II. lawson. real estate officer. and
Arthur B. Eea:on, architect OF the
building
afr. Thomas. on behalf Of the con-
tractors soon viii turn over the CON-
pleted structure 70 the company.
Si.o0o,ooe Dairy Issue Sold.
Il was announced today that tbs
si.0o0.000 issue Of Chestnut Farms
Dairy per cent cumulative preferred
stocx put out By Crane. Paris &, Co
has been sold and the subscription
books closed. In compliance with ths
wishes Of Henry Y. Erawner. ir.. presi.
cent Of the company. every opportunity
vas given the patrons Of the dairy u
Subscribe for the new stock. The same
policy regarding customer ownership
vas followed as was employed in tbs
Washington Gas issues and the issue;
pat osit last Summer Dy the Potomac
Electric Power CO.
Continental Dividend Declared.
The directors ot the Cont.nenta
Trust co. have declared a Quarterl,
dividend of * per cent. Tie diEbursc
r1ent is payapIe March 81 10 stock
holders ct record al the close Of buai
D@ss March ~.
Visiting Debatess Arrive Here.
The debating teams from RicIlnont
and Essex County, = J., haze arrives
~ the city IN the meeting tonight q
sr1e Raleigh with Washington Chapter
e.. J. T. The visitors were rendered
Luncheon b3c3y ard viii be given
tSaeye MI be- reception and dance.
The c@bate viii begin al S:i5, tn
3UcgeS heing Charles II. Eobb, JohI
Poole aAc Raymond II. Dickey, tn
S18lect H., "EeaolYed, That all cite
sgaDAs.c &cgpt 'ne city type of manage
sce:is" J. J. Roberts. president q
Washington Chapter, aili preside. Viii!
.i@g.es E.. EQper Is chairman ct Ia
Entertainment committee. The mem
IefS predict cgo%dcd ballroom, a&
is gne first egent of tl1e KIND heid her
s3g@e 1921.
Heard jn Financial District.
f,oekkciceGs u tie PeunaUgani
.as.ylaG ca increased 25g IN Febrl
arT bringing the 1Jtai III March ! l.
1919, Women sp3ckt1.deYs mum
betec II I1S, 81 ipcrease cf 55!, .
ns1fe s5.as 80 per cent ot the bD'8
j.9l1erS. Jt.e.F holdings total @.f0l. -
Eil@frS
V!mpens Isaker Smith Is now asao
Ttalec M.'n H&mb.eD34 IL ca, invest
agfht Da;.kffS ia the D9tid department
Tar mWth3y Bliietl3 0f tne DiA.Gil
g5aHkeia' k@@oclai.pH Viii cotus Gft III
l4feHa hHsgFfDB ~ M.JDaay.
.te Eec4C;Y Gun II tie America
f.ffJrty u Trust 81 VIII present II
3*yrIfa @HBBaj play. .'IHe Patsy
i4a:seaY. Hafcl4 u. u. ti4e Warcma
l@y< HGaHIcr
9tr tecttal Iu&erYe E9srd te,ggfi
fl2a4 taa tanners af<HlgG MlIlneap5l
sts HJsEpA.lg sac Isaal n40Jey tna
14'J Nate a@afG lgf ~ any tiHi@ aitlc
fis TAF
4le dltectofs u she infefaa'lon,
Lzc'3stEa j:ank 8Fe aeaGeIH.R q dilqut
I.@Et gAsHday eYeilsitR ~ i3e W!jiaT
Ia s4 slfg