Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-25
STORE SALES GAIN
IN FIFTH DISTRICT
Washington Leads Advance
IN June-PeopIes Drug
Profits Higher.
BY EDWARD C. STONE.

FTUIitS niyIIcI.
BY EDWARD C. STONE.
Retail trade in the fifth district,
based on reports of IS leading depart
ment stores to the Federal Reserve
Bank of Richmond. was better in June
of this year than in June. 1880. The
banks monthly report reviewing bust
ness in this class of trade shows that
June, 1881, registered a gain Of 81
per cent over June year ago.
Washington led with gain OF 81
per cent. Baltimore stores gained %
per cent and Richmond stores 6 per
cent. The group of other cities showed
q decline S.8 per cent. Compared with
sales in the first half of 1880, sales
for the first six months Of this year
declined 80 per cent.
Washington stores gained 81 per
cent. Baltimore stores declined AS
per cent. while Richmond stores showed
an average decrease of So per cent
"Other cities declined 1l.8 per cent
Compared with stocks on June 80, 1880,
stocks at the end of June this year
declined 1875 per cent for the district.
Declines for the cities follow; Washing
ton, 81 per cent; Baltimore, III per
cent; Richmond. l.3 per cent Other
cities, ISL per cent"
In comparison with stocks on May
81. 1881. stocks at the end of June
this year declined Sc per cent. Stocks
In Washington stores declined 6.5 per
cent while Baltimore stocks declined So
per cent and Richmond stocks 6.5 per
cenA The group of other cities de-
clineu IS per cent.
Washington stores turned their stocks
In June 1867 times, compared with .347
times which Baltimore stores turned
their stocks. Richmond stores turned
their stocks .348 times. "Other cities"
1turned their stocks % times The
average for the district was 1897 times.
since January /. 1881: Washington
2ol; Baltimore, 1923; Richmond. 1874;
"other cities" 1883; district, 1882.
Percentage Of June /, 1881, receiv-
Ables collected in June: Washington
335; Baltimore, 25.l; Richmond, $40;
"other cities" 27.6; district, 28.7
Peoples Drug Sales Increase.
Peoples Drug Stores, Inc, has sent
an announcement to local stockholders
stating that total sales for the first
half Of the present year reached
$8.577,757.45, as compared with $8,203,-
320.63 for the same period in 1880,
an increase of $374,436.82.
Net profits for the six months. after
eWere $247, 041.21, and after providing
Nor dividend on 24250 shares Of pre-
ferred stock outstanding on June 3d.
1881, in the amount of $78 1899, there
Hemains the amount OF $l68,9l1.22 as
fhe earnings on the common stock.
which is equal to $1.37 per share on
a23,5 shares outstanding June 80. For
the same period in 1880 the earnings
on the common stock were $l.l8 per
share.
On June 30, 1881, the company was
operating 125 retail stores. as compared
with lib at January l, an increase OF
z stores. Since July one additional To-
cation has been secured and will be
ready TO operate about September i.
This is in line with the established
policy of the company of expanding its
business by the development Of new
retail stores as desirable locations are
obtainable and funds are available.
Pennsy Reports June Earnings.
The Pennsylvania Railroad today re-
ported net railway operating income
for June as $4,35l,l79, against $7,4Ss,-
$40 in June Of last year, or decrease
of s3.137, 391. Net income In June
1929, amounted to $l2,092,2e9.
Net railway operating income for the
first six months of this year amounted
to $22,63S BAT, against SAC ,634,5S9 in
the first half of 1880. a decrease of $23.-
995.252 Net income in the first half
of 1929 was $64672730.
The Pennsylvania reported gross rev.
enues for June as $39,036,l 1875, against
S48, 500, 1888 in June, 1880, and $50 $780,
O48 in June, 1929.
Gross revenues for the first six months
of 1881 totaled 1924. 150O6l. compared
with $294,7l2.460 In the first half Of
1880 and 1895, 297 sos in the like period
In 1929.
AS is the case with all the railroads
the largest falling off in revenue is in
The freight department, but passenger
during the first half year,
North American Report Out.
Consolidated income statement Of
Mhe North American Co. and subsidiary
companies for the IL months ended
June 80, 1881, shows $24,365 ,0o5.66 for
common stock after all operating ex-
Spenses, interest charges, depreciation
and all other reserves and preferred
dividends.
These earnings for common stock
represent a decrease Of 1905 per cent
compared with those for the II months
ended June 80, 1880, and of 4.25 per
cent compared with those for the II
months ended June 80, 1929. and are
equal to $3.50 per share on the aver
age number Of shares of North Amer
ican common stock outstanding during
4sthe IL months ended June 80. 1881,
compared with $500 per share for the
corresponding period ended June 30
1880. Appropriations for depreciation
preserves equal 1899 per cent of gross
earnings for the IL months ended June
$40, 1881, compared with 1921 per cent
for the 1880 corresponding period.
Gross earnings of $l2l 1927 ,955.l9 for
Ahe IL months ended June 80, 1881,
reflect the elimination for that entire
period of gross earnings of the former
California subsidiaries, which were
sold on June IL. 1880, to Pacific Gas
& Electric Co., dividends on the COM
mon stock Of the latter company re-
Ceived therefor being included in other
net income. Gross earnings for the
preceding l2-month period include
the full period, excepting only the ID
days from June II, 1880, to June 80,
1880.
Brightwood Banker Wins Trophy.
William B. Robinson, Brightwood
Savings Bank, won the annual golf
tournament of Washington Chapter,
A. I. B., when he defeated D. c. Jones,
Union Trust Co., in the finals. Robin
son also had the low score in the quail
flying rounds.
AS a result of his victory he will take
possession of the w. w. SpSE Trophy,
now held by George p. Grau, American
Security & Trust Co.. last years win
ner. Grau made a gallant effort to re-
tain the trophy, but was unable to win
his match with Jones in the semi finals
Ship Line Changes Hands.
BALTIMORE, July Is Especially =