Evening star., 1935-02-07
PE0P[ESEXTENDS
INSURANCE PLAN
Decentralization Places Staff
Under Every Form of
Group Surety.
BY EDWARD C. STONE.

Malcolm G.. Gibbs, president OF
Peoples Drug Stores, Inc, announced
today that every form of coTerage IN
group insurance now protects the
employees of the big drug chain,
plan of disqualification benefits hav-
ing been added to a long existing
insurance program, through an
arrangement with the Equitable Lie
Assurance Society of the United
States.
The corporation which operates one
of the leading drug chains, now be-
comes one of the two concerns IN the
entire country, and first in the East,
to provide complete protection Tor
employees, the cost of the new plan
being paid entirely by the company
in behalf of about 1000 employees in
Washington and other cities in eight
States. The benefits are available in
connection with group accident and
health insurance policies, DR.. Gibbs
stated. Payments are to be made to
employees while they are confined in
hospitals.
Prior to the enlarged insurance pro-
gram, Peoples Drug since 1928 has
provided group life insurance, accident
and health insurance, accidental
death and diSmemberment insurance
and group pensions for employees. All
these forms of protection are admin
istered with the costs shared by the
corporation and the employees. In
this latest and other transactions the
Equitable was represented by ]. Alan
Maphis, group supervisor OF the D. S.
Bethune Agency.
Snyder Takes New Position.
Announcement was made today
that John H. Snyder, formerly con-
nected with the Mutual Benefit Life
Insurance Co. of Newark, N. j.. has
become associated with the local
agency of the National Life Insurance
Co. of Vermont, of which William C..
Worthington is general agent, with
Offices at GIT Fifteenth street. Mr..
Snyder will act as production man
ager and continue personal solici-
tation.
Prominent in insurance circles here
for many years, Mr.. Snyder is best
known as a former president of the
District of Columbia Life Under
writer's Association. Before assuming
this post he had served the organiza-
ton in many important committee
assignments.
At present he is vice president of
the Insurance Club of Washington.
He is a member of the Chevy Chase
Club and other local organizations.
January Trade Starts Well.
That January trade in Washington
got the year 1885 away to good start
is indicated in the report of Peoples
Drug Stores, Inc, announced yester-
day in The Star showing an increase
Of 100 per cent over January, 1884.
Sales totaled S1,466,956, against ST.
322,136 in January of the previous
year, an increase of S144,822. The
figures give full support to the report
of the Washington Clearing House
Association. which showed substan-
tial improvement in clearings over
the same period in 1884
Sales Of the F. w. Woolworth Co.
for the whole country were 5.4 per
cent ahead Of January, 1884. S. S.
KreSge Chain Store sales were off
slightly, while G. C. Murphy sales
were up 16 per cent. All three of
these big chains revealed a substan-
tial gain in December over the busi-
ness done in December, 1884
January sales reports so far an
nounced have been favorably received
by bankers and merchants in the
Capital. Further advances are al
ready predicted for February.
International Bank Reports.
John R. Waller, president of the
International Bank, Jackson place,
has made his annual report to stock
holders, dated as of February 4. He
states that the Roosevelt administra-
ton has given business in Washington
a tremendous impetus and local condi-
tions have improved materially dur
ing the past year.
The earnings of the several de-
partmertS Of the International Bank
reflect slight improvement over the
previous year, Mr.. Waller says, al
though the income for the year was
adversely affected by a continuation
of unfavorable factors of the depres-
sion. The International Bank is not
a bank Of deposit, the president says.
The statement of condition on Janu-
airy l, 1885, follows:
Resources.
Due from banks. ........ s5,615.s9
Bonds and investments. 456265.35
Loans and discounts. .... 1876 ,860.88
Real estate 157978.O4