Evening star., 1934-04-29
PEOPLESDRUGNET
CLIMBS FURTHER
IN FIRST QUARTER
$1.64 Reported on Common
Stock, Against so Cents
Per Share Year Ago.
HOLLAND TO ARRANGE
CONVENTION SPORTS
Capital Transit Earns $1.63 Per
Share Under Merger-Acacia
Hangs Up New Record.
BY EDWARD C. STONE.

Ii lie IrSC quarter OF tnlS year
Peoples Drug Stores, Inc. earned
$1.64 per share on the common stock,
against So cents share in the first
three months of 1888, according to
announcement made at headquarters
of the big drug chain yesterday.
This gain of nearly 200 per cent
over the like period year ago was
brought about by improvement in net
sales which totaled s4,O17 ,794 Sc.
After deduction of operating costs,
other expenses and depreciation.
Peoples Drug had an operating profit
during the quarter of $272, 1896.
Deductions for Federal taxes and
dividends on the preferred stock left
a total net profit for the common
stock of $195,45155. There are now
122,737 shares of common stock out
standing and $4,000 of 61a per cent
preferred stock.
Peoples Drug reports total assets
Of $7,514,98990. The company has
a capital surplus of S1.472,O75 and an
earned surplus of $2,468,1 the
balance sheet shows. The ratio of
current assets to current liabilities is
stated as $4.31 to 81. The steady
increase in sales during the first three
months of the present year has not
only brought about a substantial
advance in earnings, but also augers
well for the future.
Bankers Push Farley Plans.
T. Standley Holland, trust officer of
the American Security & Trust Co.,
has been named chairman of the
Sports Committee for the coming
convention of the District Bankers
Association at White Sulphur Springs
The other members of the committee
are M. F. Calnan, vice chairman; D.
J. Callahan, jr.; Robert H. Lacey, c..
D. Ratcliffe and James A. Soper.
Chairman Holland has already been
to White Sulphur and worked out the
various golf contests. Four main
tournaments are to be held. The first
will be played for the Mangum Cup.
Following that will be contests for
the Pop Fleming Trophy, w. B.
Hibbs Trophy. Herbert T. Shannon
Cup, Lanier P. McLachlen Cup and
the Richard Hatton Cup
Mr.. Holland states that the rec
reational activities will not be con-
fined to the old Scotch game. Dele
gates will have free use of the perfect
tennis courts for matches or friendly
set-tos. There will be a top-spin-
ming contest in which bank presidents
vie with directors and junior officers
for the Mclean Cup; a putting con-
test for the ladies in attendance and
last, but far from least in interest, the
fight for the Gruver Cup in the horse
shoe pitching contest.
In addition to these features polo,
flying, sun bathing, archery, trap
shooting and horseback riding may be
enjoyed. Two hundred and fifty
miles of bride trails wind their way
through these beautiful hills.
Gas Bonds Score New Peak.
Georgetown Gas SIS opened trading
on the Washington Stock Exchange
yesterday, two $1,000 sales being re-
corded at 105, gain of q of point
year.
Capital Traction IS which have
been among the leaders on the ex-
change for several weeks, or since the
street car merger went into opera
ton, were out again yesterday, two
$1,000 sales taking place at 81 y. The
bonds closed the week with 81 bid
and 50 asked.
Washington Railway &, Electric As
were stronger yesterday, although no
sales were recorded. The bid ad-
vanced from "a to 94A and the asked
price went from 95 to 95l2.
Merganthaler Linotype was in bet
ter demand during the week than it
has been in long time. The bid on
Peoples Drug Stores preferred closed
yesterday at 1o3, with no stock
offered for sale. Holders are unwill-
ing to sell.
Transit Earnings Analysed.
Net earnings of the Capital Transit
Co. during the first four months of
consolidated operations amounted to
S1.63 per share on the company's
$4,000, 900 capital stock. Net earn
ings after bond interest in the four
months were $118,39258 in December,
s1O6, ,924.26 in January, 75,50245 in
February and $91 1,095.49 just re-
ported for March.
In an analysis of transit earnings
since the merger went into effect, Y.
E. Booker, investment firm, states
that while net earnings are impress
sive, of greater significance is the fact
that gross revenues and the number
of passengers carried have increased
steadily each month. The decrease
in net earnings for the month Of Feb
ruary was due primarily to the un-
usual amount of snow and sleet which
greatly increased operating costs and
also to the fact that February was a
shorter month.
The fact that total expenses have
risen from month to month Is ex-
planned by the great increase in traffic
which necessitated the purchase of
additional buses, the use N a much
larger number of street cars, and the
employment of a considerable number
of additional train men and shop men
and bus drivers.
The company will not enjoy the
benefit of operating economies which
are expected to result from the con-
solidation until the extensive program
of re-routing and rearrangement of
tracks has been completed, perhaps
six months.
Indications are that the April gross
revenues will be even larger than
those Of March. April expenses how
ever, wiz be approximately $4,000
greater as a result of the woqe in
crease which became e. lie April /.
tho spooker Pevieu Sovr