Evening star., 1936-03-15
Permits Up 1886 Per Cent
Above Same 1885 Week.
CIearingS Higher.
DAYS ADDRESS STIRS
INSURANCE LEADERS
Annual Report for Peoples Drug
Reveals $ls,217,oes Sales, Gain
of 1885 Per Cent.
BY EDWARD C. STONE.


sational gain of 1886 per cent over thu
corresponding week a year ago, anc
70 per cent over the preceding week
the Department of Commerce an.
nounced yesterday in its weekly re.
view.
Bank clearingS in the Capital alst
revealed business progress by re-
cording an increase of 1873 per cen
over the same week a year ago
although they were per cent behind
the mark of the previous week. At tht
same time department store trade wa!
of from the previous week but 81 pei
cent better than in the correspond
ing week in 1885. Tourists activitie!
evidenced improvement over las
year, judging by the number of visi.
tors registering at the Smithsonian
Institution.
In the whole fifth Federal Reserve
district, which includes the Capital
the Commerce report reveals a slight
trade let-up over the previous weel
but better levels than a year ago
Wholesale trade more than held it!
own. In some sections, retail trade
was Spotty ou account of bad weather
On the whole conditions were reported
as favorable, merchants as optimiS
tic
Business barometers for Washington
alone, covering the month of Febru
ary, assembled yesterday, discloSt
substantial improvement over Febru
ary, 1885.
Day Gives Inspiring Talk
Carroll c. Day. Oklahoma Insurance.
fnagnate, addressed 200 members O.
the District of Columbia Life Under.
writer's Association at the March
luncheon at the Willard Hotel yeSter'
day noon, on "A Philosophy of Liv'
ing" He gave one Of the best ad.
dresses the insurance leaders hert
have heard recently. Most inspira-
tional in tone, he discussed earning
power, maintenance of income in.
veStments, and a host of other eco-
non1ic and social problems, naturally
stressing the value of life insurance tc
o high degree.
j. E. McCombS, president of the
duced John A. Marshall, retiring su-
perintendent Of insurance in the Dis.
trict, to the underwriters and Mr.
Marshall introduced j. Bolch Moor
who Is to be his successor. Loui'
Rothschild, retiring director of the
Washington Better Business Bureau
was also introduced and praised fol
the service rendered during long serv.
ice in that office.
Treasurer Charles w. O'Donnell re.
ported the association in strong finan-
cial condition. drawing great ap.
plause; John M. Lynch announced
that Life Insurance week" this yeal
will open on May II, adding that the
association will offer several fine cups
for production records by individuals
and groups. Carl Smith Dow. head
Of the local Pacific Mutual Office, in
troduced the guest speaker, who is
connected with the same company.
M. G. Gibbs, president of Peoples
Drug Stores. Inc, made public the
annual report yesterday, showing re-
tail sales of $19217.063, an increase
of s2,337,667 over the previous year,
or 1885 per cent. Net profits totaled
&1,121. 1854.
Deducting dividends paid on the out
standing preferred stock in the
amount of SIPS, ,482, the company re-
ported balance of 1895, 1872, represent
ing earnings applicable to the COM
mon stock, which is equivalent to $4.06
per share on the 245,324 shares out
standing, as compared with $4.34 on
the same number of outstanding
shares in 1884.
During 1895 nine new retail stores
we're opened, two acquired by pur-
chase and six were sold, net gain of
five, making total of l22 in opera
ton at the end of the year. Two
stores we're moved to new locations
and three modernized. The financial
position remained good, Mr.. Gibbs
said, adding that the company will
still have ample working capital after
the redemption of 10000 shares OF
preferred stock on June is this year.
Redeeming the stock will save $65, ZOO
q year.
The company's assets stood at $8.-
B7S893.11 at the years end, the con-
solidated balance sheet states.
New Exchange Commissions.
The governors of the Washington
Stock Exchange have adopted new
set of commission charges which &c
into effect tomorrow. In the future
the minimum charge on any single
transaction in stocks or bonds, except
fractional shares, will be So, an ad-
vance from $l.50.
The commission of 1919 cents per
500 on Government bonds and Is
cents per 500 on all other bonds re-
mains unchanged. Most of the
charges on stocks are also the same
as they have been for years. The new
rate card, however, is more simple
than the old one.
The old way Of charging q per-
centage of the amount Of certain
transactions has been abandoned. At
$500 a share and above but under
$500, 81 per share will be charged; at
$500 but under $500, s1.5o a share
and at $500 and above, 81 per share.
Commissions on rights and fractional
shares remain unchanged. The new
rates are certain to be received favor
ably by local investors.
On the Washington Stock Ex-
change yesterday there were five
$1,000 sales and one $4,000 sale in
Capital Traction IS at 901a and a
$500 transfer at 901s. The only other
sale was 10 shares Of Mergenthaler
Linotype stock down TO 40, the mar
ket closing with 40 bid ard 4lh
asked.