Evening star., 1932-03-29
G. &P. WILL SPEND
| @,8O LOCALLY
Expenditures for New Plant
and Equipment Authorized
by Company.
BY EDWARD C. STONE.

By EDWARD u. SIONE.
Capital expenditures of S555,3 for
new plant and equipment in the Dis
trict of Columbia were authorized by the
board of directors of the Chesapeake &
Potomac Telephone Co. at the regular
mpnthly meeting, held here today.
alsThis appropriation brings the total
amount authorized for similar projects
50 far this year to $3,295, ,351, according
bopa statement made by John A. Remon,
general manager of the company
Included in the authorization is the
Installation of switchboard equipment
and routine construction work for the
second quarter of the year, which pro-
yides for cable extensions, installation
of telephones and private branch eX-
change switchboards and other appara-
tus on the subscribers premises in
every section Of Washington.
Peoples Drug Sales Reported.
Sales of Peoples Drug Stores, Inc,
for February, reported today, amounted
to S1,354024, in comparison with
ST .363,033 in the same month year
ago, a decrease of $1,000, or 0.6 per
cent.
Sales for the first two months of the
present year were reported as $2,734,-
966 against $2,793,924, a decrease Of
$58958, or 81 per cent, both reports
not taking into account the change in
the number OF stores during January
and February.
The marked difference between total
sales in January and in February indi-
Gates that sales in Washington and in
other cities where Peoples Drug Stores
are located are much better now than
when the year opened.
uIo-~
The next meeting of the auditors
section of the District Bankers ASso-
citation has been arranged for Thursday
evening April IA it was announced to-
day The meeting will be held at the
National Press Club, with the assistant
controller of the Chase National Bank
as the speaker. Members of the Balti-
more Auditors Association have been
invited to attend the meeting and have
accepted the invitation
Members of the local auditors section
of the Bankers Association will attend
the meeting of the Baltimore auditors
the following week. Arthur j. Linn,
auditor of the Federal-American Ma
tional Bank & Trust Co., is president of
the section this year, having succeeded
Raymond G. Marx of the Riggs National
Bank. who was at the helm last year.
Dollar StaDlilZat0n is Urged.
Alignment of the United States
Building and Loan League with the
rational movement for stabilization of
the dollar was indicated at a meet
ing of the luncheon group of the Dis
trict of Columbia Council of Build
ing and Loan Associations yesterday
at the Harrington Hotel. H. Morton
Bodfish, Chicago, executive secretary of
the national league, guest at the
meeting, suggested the interest of the
body in this method of restoring pros
perity.
H. F. Cellarius of Cincinnati, national
treasurer of the league, was also
guest The chief speaker was Repre-
sentative Bushy, who was introduced
by Edward C. Baltz, secretary of the
Perpetual Building Association, and
past president of the local council AL
arrangements were made by c. E. Ke-
fauver of the Columbia Building Asso-
citation.
Today's Trading on Exchange.
The only bond sale on the Washing
ton Stock Exchange today was 500
sale Of Washington Gas Light 6s, Series
A, at par.
In the stock division trading opened
with three small lots of Potomac Elec-
trio Power 511 per cent preferred at
los. Later a single share of Potomac
Electric Power 6 per cent preferred
sold at 110A.
Forty shares of National Mortgage &
investment preferred changed hands at
8, and 100 shares of Carpet Corporation
came out on the board, after call, at 7,
ex-dividend
Mergenthaler Linotype registered a
small sale at AZ, this stock also selling
eX-dividend.
Business Better in South.
The Atlanta Federal Reserve Bank
reports that business is considerably
better in the South. In the past week
the trend Of trade has continued up
ward. Stimulated by the pre-Easter
seles, in which a considerable quantity
of goods was disposed Of at the lowest
prices in years, the volume of depart
ment store business was the greatest
so far this year.
Furniture sales showed a decided i'm
provement and wholesale trade in gen.
eral likewise increased. Automobile
sales were much better, but remained
far below normal.
Further gains in consumption of cot
ton goods were reported by textile
leaders
Leading banks of the district re-
vealed heavy increase in deposits. I'm
provement was also reflected in the
reopening of banks which had been
closed for several months.
Financial District Notes.
Miss S. Winifred Burwell, National
Metropolitan Bank, chairman of the
Womens Committee Of Washington
Chapter, announces that a bridge party
will be held in the cabinet room of the
Willard Hotel, on Saturday evening
April 2. Prizes will be provided for
each table and refreshments will be
served during the evening.
The Reconstruction Finance Corpora
ton has approved a 100000 loan to
Mississippi Export Railroad for three
years, with which to pay audited
vouchers, interest obligations, etc The
Interstate Commerce Commission pre-
viously had approved the extension of
this credit.