Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-07
PEOPLES DRUG CO.
SALES ON INCREASE
Gain of s1,25O,OO0 Over
1929 Is Shown During
Last Ten Months.
BY EDWARD c. STONE.

BY EDWARD G. STONE.
Gales of Peoples Drug Stores, Inc,
during October amounted to 1892 ,949,
in comparison with s1,36s,846 in Octo-
Der, 1929. according to the monthly
statement just announced. This is a
gain of l.76 per cent.
For the first 10 months of the present
year Peoples Drug sales totaled $13,-
66S,298. against $12 .411, 174 in the cor
responding period year ago. an in
crease of 81 100000, or 1913 per cent.
Further comparisons show that the
Washington concern has made steady
gain in sales all through the year. The
report is considered particularly inter-
esting. since It was announced today
that the first % chain stores making
their reports on october sales showed
an aggregate decrease of GOA per cent
and for the first 10 months of 1880 of
l.39 per cent.
The company's preferred stock is
listed on the Washington Stock Ex-
change and the common on the New
York Stock Exchange the preferred
selling around 100 and the common
at 81
Country Club Bond Issue Sold.
An oversubscription for the forth
coming issue of $225,000 Columbia
Country Club 512 per cent 20-year
sinking fund gold bonds is reported by
Y E. Booker &, Co., the investment
banking firm which is putting them out
The new issue is to be dated Decem-
Der /, 1880, the coupon bonds being in
denominations of $500 and 81 600 They
are priced at 100 and accrued interest
and are callable on any 30-day notice at
los and interest. They are secured by
all the club property. consisting of 1876
acres of land, modern clubhouse and
all the improvements that have been
made.
While this is "a comparatively small
issue, bankers today called attention to
the fact that the oversubscription indi-
Gates that there is plenty of investment
money in the Capital in spite of pre-
vailing economic conditions. AS soon
as the bonds are issued application will
be made for listing on the Washington
Stock Exchange.
Association Names New Director.
At the annual meeting Of the Home
Mutual Building & Loan Association,
Barry Black, president of the A. r. Nc
Chesney Co., was elected a director to
succeed George King. publisher. who re-
signed. The other directors and officers
were reelected as follows:
Clarence F. Norment, ST. president;
Maurice F. Flynn, vice president; Odell
S. Smith. secretary-treasurer. Direc-
tors: John Alden, John NJ Auth, w. w.
Bowie, William F. Guide, r. Lee Horton
William z. Howard, Arthur j. May, John
A. Maxwell, George L. Starkey, Alfred
Walford, G. w. Forsberg, Karl Achter-
kirchen, Frank s. Smith, attorney.
Depression Zero Hour Passed.
Yes. The zero hour of depression is
past. There were those and relatively
few, who had the common sense not to
be carried away by insane speculation
last year or by lurid belief in a new
and everlasting era Of ever-expanding
prosperity They can afford, says Trust
Companies Magazine, to watch the
passing show and the future with con-
fidence and tranquility. Again, there
are those who today are not carried
away by fear and have the courage to
realize that this great Nation has en-
countered and survived far greater
shocks and perils. passing on to ever
greater human and economic achieve
ment. rs 50
They are not dismayed by the stock
ticker or hang breathlessly upon the
professional antics on the New York
Stock Exchange. which must needs re-
gain its discredited reputation as reli-
able mentor of actual values or future
trends. Their true sense Of fundamen-
tails and perspective is not thrown out
of gear by transient statistics on car
loading, price fluctuations, unemploy-
ment, production ratios, bank clearings
and other "indices."
They know good times are coming,
that this is time. for girding Of loins,
and that, for all those who preserve the
faith, the zero hour is past"
TOday's Sales ON Exchange.
On the Washington Stock Exchange
today five shares of American Security
~ -
thaler Linotype moved at 80, and Capt.
tai Traction again sold at so for only
10 shares.
Potomac Electric 51a per cent pre-
ferred stock came out at 1882, while
five shares Of the 6 per cent preferred
registered Ill. Three 100-share blocks
of National Mortgage & Investment
In the bond division, 81 1000 Washing
ton Gas IS, series A, sold at l03, and
baby B bond sold at 1862. Washing
ton Gas SIS came out at l05R.
The final quotations on Capital Trac-
ton were stronger than yesterday, so
being bid and 81 asked.
Heard in Financial District.
october sales of the McCrory Stores
Corporation were So ,606,3e3, against
So, Ts8, 497 in october, 1929. decrease
Of sos per cent. For the hrSt 10
479 compared with S33 ,55S,638 a year
ago. a loss Of but % per cent.
Theodore NJ. Richie, associate man.
Rger of the New York Office of the Eqult-
able Life Insurance Co.. will address the
District of Columbia Life Underwriters
Association at next Thursdays luncheon.
His subject will be Cardinal Prin-
ciples"
William Montgomery, president OF the
Acacia Mutual Life Association, reports
that more than 81 ,450,000 in life insur-
ance was re-inStated in his company in
October. This followed heavy reinstate-
ments in August and September and In
dicates to the company officials much
better trend in business conditions.
F. W. Woolworth october sales de-
clined As Der cent from year ago, to
SEE. 421,522: 10 months, 1922, 1885,, 1881, of
a. per cent.
The daily average volume of Federal
Reserve Bank credit outstanding during
the week ending November as reported
by the Federal Reserve banks, was
Sl,025. 900 900, an increase of $4,000, 900
compared with the preceding week and
a decrease Of S689000,000 compared with
the corresponding week in 1929.
POTATO MARKET.
CHICAGO, November z (41 GU. s.