Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-31
Totals. :. $3.50, 681 ,265 s785, 67O,S47
Would Cancel $4,000 in Stock.

F. H. Rowe member of the commit
tee handling the affairs of American
Drug Stores. Inc, which maintains heao
Offices at 1919 Wisconsin avenue north
west. announced today that the or
ganizer of the corporation and owner
of 10000 worth of preferred stock now
held in escrow by the State of Virginia
has agreed to turn this stock back to
the corporation to be Cancelled. This
owner and the drug corporation nave,
therefore, petitioned the State OF Vlr-
ginia for the release of the stock. to be
returned to the corporation and can
celed.
Mr.. Rowe added that when the 10000
preferred stock is returned and can
celed this action will leave approxi-
mately S36,480 worth of the preferred
stock outstanding. The request already
made at Richmond was merely for the
purposes of cancellation, he said.
At the annual meeting CT the stock
holders and directors held last Decem-
Der the affairs of the company were
placed in the hands of F. H. Rowe and
William H. Clarke, two of the principal
stockholders. They were constituted
committee and given all the authority
of officers and directors to operate
American Drug Stores, Inc, and have
been in charge since January /.
Peoples Drug Record Good.
The favorable record of sales of Peo-
pies Drug Stores, Inc, for the first hall
wear turns attention to the stock listed
on the Washington Exchange. The 612
per cent preferred stock was listed on
the local board in 1923. The high that
year was I1612 and the low 107l2. In
1929 the stock had a tremendous adj
vance, touching 1874, while the low mark
was 100. After the break the stock
stayed down in 1880 to high OF 1882
and lew of 98
During the present year the high has
been 1887 and the low SO. The stock
is now selling around 10l and yields
about $40 per cent. 1t is also listed on
the New York Stock Exchange, being
quoted about the same as it is here.
covered the preferred dividend and are
also making good showing for the
common. The common is also listed
in New York, but not in Washington.
It may not be so many moons how
ever. before the common may also be
traded in locally.
With the company's home office in
Washington, the common stock really
should be listed on the local exchange.
American Ice June Quarter.
American Ice Co. and subsidiaries re-
port for quarter ended June 80, 1881,
probation and Federal taxes, equivalent
after dividend requirements on per
cent preferred stock to 81 cents share
on 600, 900 no-par shares of common
stock This compares with net profit
in preceding quarter of S48,086, equal
to 80 cents a share on 100000 shares
of 6 per cent preferred stock and net
profit in June quarter of 1880 of 81 ,037,-
228, equal after per cent preferred
dividend requirements, to $l.35 snare
on common stock
For six months ended June 80 1881,
net profit was SB19,338 after charges
and taxes, equal after preferred divi-
dend requirements to 81 cents share
on common, against 81 ,106528 or 81 90
a common share in first half of 1890.
Today's Trading on Exchange.
washington Railway q Electric As
were in demand on the Washington
Stock Exchange today, $1,000 selling at
s2A and $4,000 at 927s.
Potomac Electric Power per cent
preferred stock came out at 1l3ls and
washington Railway &, Electric pre-
ferred registered two sales at 100.
Lanston Monotype figured in small-lot
sales on the exchange today at 81 and
86& and Mergenthaler Linotype re-
corded a single share transfer at 1872
The weekly check-up on the unlisted
securities showed very few changes in
quotations. The bid was raised two
points on Mayf1ower Hotel IS and the
bid on National Press Club first 5l2s
placed at SO.
Heard in Financial District.
c. J. Gockeler vice president of the
District National Bank and CT the
Washington Stock Exchange, leaves here
tomorrow for a months vacation at
Margste City, N. j. He hes been sold
on the New Jersey resort for many
vars.
irving zirpel, secretary of the Union
Trust Co. is taking his annual vaca-
ton now being at the Summer place of
E. j. Stellwagen, on West River. Later
he will spend two weeks on a motor
trip.
The council of administration of the
DIS riot Bankers Association met late
yesterday at bankers headquarters and
disposed of number of routine mat
teIs that needed attention.
The Interstate Commerce Commission
has authorized Chesapeake & Ohio
Railroad to acquire the 15-mile railroad
and appurtenances of the Blue Jay
Lumber Co, extending from Beaver
Junction to Flat Top, in Raleigh and
Mercer Counties, W. Va.
American Tobacco Co. has declared
the regular quarterly dividend of SIPS
on the common and common B stocks,
payable September l to stock of record
August 10.