Evening star., 1936-07-30

company. The
new general man. John A. Remon.
ager, Mr.. Robin
son, has been general manager of the
company in West Virginia and comes
here from Charleston.
The three promoted officials have
been long in the service Of the COM
pany. Mr.. Remons service with the
Bell System dates back to 1909. He
became connected with the G. & p.
company in 1925. Since coming to
Washington he has been active in
civic affairs and for several years
has been president of the Presidents
Regatta Club, also active in the
Washington Board of Trade and in
Boys Club work He was educated
In the Worcester, Mass, Polytechnic
institute.
Mr.. Van Orsdel came to Washington
from Omaha, Nebr. He was educated
at the University of Nebraska, gradu-
ating in the class of 1906 with an
A. B. degree. and from Creighton Uni
versity in 1910 with an IL. B. degree.
He is a member of the American Bar
Association.
Mr. Sedan, retiring vice president,
entered the employ of the Bell system
at indianapolis. in 1908. In April.
1907. he was transferred to the Pa
cific Telephone & Telegraph Co., re-
manning with this company until Feb
ruary, 1922. when he was appointed
general traffic manager OF the Chesa-
reake g. Potomac Telephone Co.'S,
with headquarters at Washington. He
was appointed general manager of
these companies in 1927. and vice
president and a member of the board
of directors of the companies in 1929.
White New Bank President.
]. Frank White, vice president and
cashier, assumed the presidency of
the National Bank of Washington to-
day. following his unanimous election
by the directors yesterday as the sue
cessor to the late George L. Starkey.
Connected with the bank for so
years, sound and conservative in his
views and familiar with every DEPART
ment, the board considered him the
logical choice to fill the vacancy. He
was showered with congratulations to-
day by the banks employees and pa
irons and a host of friends outside.
The other officers of the bank in
clude Clarence F. Norment, chairman
of the board; James Trimble, vice
president; Edmund H. Graham, John
Alden, William E. Howard, Ruther-
ford j. Dooley, assistant cashiers;
Louis M. Denit, general counsel and
trust officer; John F. Hillyard, assist
ant trust officer: Odell S. Smith, Sec
retary. and Everett H. Parsley,
auditor.
The Bank of Washington's Board
of Directors is composed Of j. M.
Beavers, Henry N. Brawner, jr.; Wris-
ley Brown, j. Edmund Cammack, Max
Fischer, Maurice F. Flynn. G.. w.
Forsberg. George B. Goetz, Frank r.
Jelleff, Michael A. Keane, Mark
Lansburg, Morris E. NARROW, Arthur
j. May, w. Clarence Miller, Clarence
F. Norment. Clarence F. Norment,
jr.; Harry Norment, George P. Sacks,
Charles Schafer, John Scrivener,
Odell S. Smith and James Trimble.
Organized in 1909, the bank is now
l27 years old. Deposits on the last
call totaled we'll over S9000,000, with
resources of more than $11 100000
and capital stock of $1,050000. The
main office is located at Seventh and
c streets northwest, with branch at
1121 Water street southwest.
Peoples Drug Earnings Climb.
Earnings of Peoples Drug Stores,
Inc, in the first half of 1886 made
fine record, net standing at $1.90 per
share on the common stock, against
S127 cents share on the common in
the like period in 1885.
The six-month statement sent out
from the head Office here shows net
sales of $9,870,173, in comparison with
net sales Of S9.072,708 a year ago.
Other store income this year was s134,-
408, against sl31,079 last year.
Deduction of general and admin
1strative expenses left an operating
profit of s610,065, compared with the
much lower figure of S437 1928 in the
first half Of 1885. The report shows
a net profit for the six months of
$93,948, against S61,397 a year ago.
The Peoples management paid the
usual dividends on the preferred stock
to the amount of $62, ,741.48, leaving
a net profit available for the COM
mon stock of $469,634, as compared
with the much smaller sum of $312,-
63l in the like months in 1885.
The company reports current as
sets at the end Of June as $7,597 ,257,
against S7,775,27 as of June 80, 1896.
The financial statement shows the
big drug chain in highly favorable
position, sales in the first half Of
this year auguring well for the last
half.
Heard in Financial District.
Chauncey G. Parker, jr., of Auchin-
Gloss, Parker & Redpath, New York
Stock Exchange firm with home Office
in Washington, has been elected to
membership in the New York Cotton
Exchange. The directors elected four
other new members at the same time.
There was much interest In the
financial district today in the $25 $780,
600 Chesapeake & Ohio Railway 31a
per cent bond issue, priced at 991a
and accrued interest. The proceeds
are to be used to redeem outstanding
G. g. O. bond issues which are paying
higher rates Of interest.
With General Motors Acceptance
Corp. filing the second largest regis
tration statement since passage Of the
securities act Of 1933-$100, ,000, 900
debentures-new registrations recorded
with the Securities and Exchange
Commission one day this week ex-
ceeded s125, 100000.
Marked Gains in June Sales.
Marked gains in total net sales and
o higher rate of collections on &C
counts receivable in June, 1886, as