Evening star., 1932-03-16

the year amount IS
ed to S17,439,032. VI
compare with $
Sl6759 SOS in pre- IN
ceding year. NJ. G. Gibbs
Balance sheet as
of December 81. 1881, shows current
assets of S3.439,857 and current liabili
ties of S1,14o,926, comparing with So
297,647 and $1,100,824, respectively, at
close of 1880.
Consolidated income account of
People Drug Stores. Inc, and affiliated
corporations, for year ended December
81, 1881, compares as follows:
Net ssles........ sl7sss99g sssssi99g slsl5sss@ss is1s g
Other income. e........ [oo'lIf @o%'o4'
ooE3 s2a Ros% ana '5s 55Ss5t2 '2s Is95335a
r.9.RsF 9.nsF '7st2s2 ss2ss ''ssf 5sss
Other deductions tnet) 2I'S7T $3.50
Net profits ........ 1921 1923 s67l. l.7O2
Preferred dividends. l54066 15T625
Common dividends. "....'... '.......
mot stated.
Malcolm G. Gibbs of this city is
president of Peoples Drug. The pre-
ferred stock has been listed on the
Washington Stock Exchange for many
years. the last sale having been made
at SO. Mr. Gibbs has expanded the
business steadily until Peoples is now
one of the largest drug store chains
in the country. The report shows an
other satisfactory years business in
spite of prevailing conditions.
District Tenth in Building.
Building permits in 5S3 cities and
towns in tie United States during the
month of February. 1882, amounted to
S45,326,719, according to official re-
ports made to S. w. Straus & Co. This
figure represents per cent decline
from January, 1892, when the volume
for those cities was s48,225. .143, as COM
pared with a normal seasonal expected
increase of 81 per cent. Permits Is
sued during February, 1882, fell 594
per cent below the same month OF 1881.
AS a group the 25 cities reporting
the largest volume Of permits for the
month show an increase of 81 per. cent
over January, 1882, decline OF 55
per cent from February, 1881, and
decline of sos per cent from F'ebru-
ary, 1890. Ten of The cities made IN
di7idual gains over February, 1881.
They are Cincinnati, Cambridge, Fort
Wayne, Biloxi Long Beach, Austin,
Memphis, Appleton. Jacksonvil@e and
San Jose.
San Francisco, Cambridge, Fort Wayne,
washington, Biloxi Austin, Appleton,
Jacksonville, San Jose.
Permits granted in Washington had
value of SI,015,62 New York had the
largest volume of permits, totaling So
O41 $50. Baltimore was fifth in the llst
and Philadelphia just under Washing
ton.
Sentiment Held Improved.
Hornblower g. Weeks in their March
Investment Review, report greatly i'm
proved sentiment in financial circles as
a result of the constructive steps taken
by the Federal Government to relieve
the credit strain. With the normal
stimulus of the coming Spring season,
they expect a turn for the better in the
business tide during the next 80 10 gu
days AS to the bond market, they note
a definite improvement for municipals
and utilities and believe increasing con-
fidence and growing bank deposits
should bring added buying power, which
should further boraden and strengthen
the demand for sound bonds.
D. c. Exchange More Active.
Trading on the Washington Stock
Exchange was more aCtive today than
it has been in a long time.
The largest volume was In Washing
ton Railway & Electric Is, there being
five 81 900 transactions, all made at "a.
Washington Gas SIS figured in $1,000
sale at 1902 and $500 Gas 6s, series A
changed hands at 100 and 1904. Po-
tomac Electric Power 6s sold to the
extent OF 81 ,000 at LOG
IN the stock division so shares OF
National Mortgage & Investment pre-
fcr"cd czme out at 3, small lot OF
Ie-E.on Monctype moved at IS, and Is
ST. IS CT Washington Gas Light stock
az cd on the board a. 90.
80 closing stock sale was in Po-
tcii7ac Electric Power per cent pre-
ferTed, which brought llli2.
Talks About Bank Executives.
John A. Reilly, one of the vice presi-
dents Of the Federal-American National
Bank e. Trust Co. gave a radio talk
yesterday on the general subject of
bank officials and their duties. He de-
clared that the modern bank executive
should possess excellent judgment,
imagination. common sense. and
breadth of mind in order to faithfully
perform his daily duties. A lack of
vision on the part OF the banker IS
fatal. he ssid. He must keep his mind
on the bushes pulse all the time, since
the greatest reservoir Of credit lies
within the immediate control Of the
banker.
Dividends and Other Notes.
Directors of American Security &
Trust Co. have declared the regular 3
per cert quarterly dividend, payable
April II. to stockholders Of record at
close of business March 81.
John w Eanes, senior partner Of
Charles. D. , Barney & Co, has been
elected member OF The Chicago Board
OF Trade
Hemphin. Moves & &c, has opened
municipal bond department in the
New York Office, WITH W. F. Stephens
manager
The Packard Motor Car Co. has been
awarded the Collier Trophy. the out
standing American award for aeronau-
tical development The award was for
the development in 1881 Of the Packard
Dieeel aircraft engine.
Virginia Pulp g. Paper Co. has de-
clarcd the(regular quarterly dividend ot
25 cents on the common stock, payable
April 10 stock of record March II.
Chase National Cuts Salaries.
The Chase National Bank, cfc-tive
April !, will reduce officials and clerical
salaries as follows: Sl,2C0 and less. no
reduction; 81 200 and up to $1,000, in
elusive, IS per cent on full amount OF
salary and salaries over 5000, 5 per
cent reduction on first SIS 000 and 10
per cent on the amount in excess OF
$4,000.
SILVER QUOTATIONS.
NEW WORK. March 16 (P-Noon