Evening star., 1932-02-16

In addition to Mr.. Taliaferro, the
other members Of the committee will
be Robert H. Lacey, vice president OF
the Columbia National Bank, vice
chairman: Ezra Gould, president Wash
ington Mechanics Savings Bank; Rob-
ert S. Stunz, vice president, Park Saw
ings Bank: Frank Stetson, vice presi-
dent and trust officer. National Saw
ings & Trust Co.; Clyde B. Asher, di-
nard, director and general counsel,
District National, and Bynum E. Hin
ton. director, Chevy Chase Savings
Bank
The new chairman, Mr.. Taliaferro,
was one of the District Commissioners
for several years before he entered the
banking field. Being in the trust busi-
ness, he is of course. a member of the
bar. He is deeply interested in sports
and Is certain to make the recreational
features of the convention reach for
mer high standards.
Peoples Drug Store Sales on.
Sales of Peoples Drug Stores. Inc.
for January, without consideration of
changes in the number Of stores, re-
ported today, amounted to sl,379541,
compared with s1,430, 800, decrease of
s51.349, or 3.5 per cent, in January
year ago.
Local holders of New York bank
stocks have been taking special interest
in these issues during the past few
days. These stocks rallied sharply last
week. as evidenced by records compiled
gate market value of the 16 leading
issues was sl.689,3 1881 900 as Of February
13, against S1,595, ,486,000 on February
6, an increase of 1895 900 for the
week
The average yield of the 16 leading
stocks as of February 6 was Isl per
cent, compared with a yield of 500
per cent on February 6 and 9.84 re-
corded on December IT. the highest
average yield reported last year.
Based upon the February 13 figures,
the 16 issues now are selling at l2.4
times their known current earnings,
against Ill times earnings on February
and 90 times known earnings on De-
cember IT, the low for 1881. The cur
rent market value of the 16 stocks Is
096 times known book value, against
O9O on February and O65 on De-
cember II. 1881.
Trade Expansion Forecast.
Trade at retail during the past month
has been sharply restricted by unsea-
sonable temperatures throughout the
greater part of the country, rainy week
ends in Eastern sections and some
further contraction of consumer pur-
chasing power, says the Standard Sta
tistic5 Co. in recent survey, parts OF
which follow:
January sales were not entirely sue
eessful, and even the larger stores have
had to reduce prices materially to move
merchandise Rejecting such condi-
tions especially unfavorable compari-
sons with the similar 1881 period were
experienced.
Under the combined influence of
more seasonable weather and gradual
return Of confidence resulting from the
efforts of the Reconstruction Finance
Corp, retail trade should register mod
crate expansion during the next several
months. The fact that Easter is earlier
this year than last should, in addition,
cause buying for this season to develop
at an earlier date than in 1881. How
ever. with general purchasing power
drastically curtailed, and with retail
prices currently averaging Is per cent
or more below the level of year ago, it
is strongly improbable that the aggre-
gate value of retail sales for the first
quarter of 1882 will even closely ap-
proach the level of the corresponding
1881 period"
Trading on D. c. Exchange.
Today's session of the Washington
Stock Exchange opened with Washing
ton Gas IS, series A, selling at 100 and
the B gas bonds selling at 100 and
10112.
Potomac Electric Power 5lz per cent
preferred sold at 1922 and several
small lots Of Capital Traction changed
hands at 1912.
Potomac Electric Power preferred
stocks and Washington Railway &
Electric preferred and common are the
only issues on the exchange now being
quoted ex dividend.
Heard in Financial District.
Annual Midwinter conference of the
American Savings, Building g. Loan
Institute, will be held in Shreveport,
La. February 19 and 20. Emphasis on
advertising in the home financing field,
business forecasting. new savings offers
OF building and loan associations and
mortgage loan methods will be the fea-
lures Of the conference.
Secretary of the Treasury Mills has
announced an offering of 9l-day Treas
ury bills to the amount of 100000, 900.
Tenders will be received up to Friday.