Evening star., 1936-04-26
PEOPLES DRUG NET
BOOSTED SHARPLY
IN FIRST QUARTER
Nearly ST a Share Earned
on Common, Against 10
Cents Year Ago.
BANK CLEARlNGS JUMP;
RETAIL TRADE SLOWER
D. c. Bankers Go to Hot Springs
for Biggest Council Meet
ing Yet Held.
BY EDWARD C. STONE.


Peoples Drug Stores, Inc, scored
marked progress in the first quarter
of 1886, when regular dividends were
paid on the preferred stock and 81
cents per share earned on the COM
mon, compared with 10 cents a share
in the first three months OF 1925, ac-
cording to a report made public yes
terday at the head office here.
Net sales totaled $4,844,333 in the
first quarter this year against $4,445,-
IT'S in the like 1885 period. Other
store income was slightly higher than
a year ago. After deduction OF all
operating costs the company had an
operating profit of S307,9Ol.74 against
S239, ,707.70 last year. Miscellaneous
income was much better than in 1885.
Net profit for the period, after the
deduction of all taxes, stood at
$270, ,40467 as compared with $685.
2s248 last year. Taxes called for
S47,71847 and Peoples Drug paid out
$31,36943 in regular dividends on
the preferred stock, leaving net
profit available for the common stock
of S239,03504 against $l7l ,9l305 in
the same three months of 1885.
As of March 81 the big drug chain
had an earned surplus of S2,475,3
against s1,727087 on March 81, 1885,
the report states.
Clearings Up; Trade Slower.
Bank clearings in Washington dur
ing the past week jumped Alb per
cent above the total for the same
week last year, furnishing the most
striking comparison in the Depart
ment of Commerce review yesterday.
Clearings were also slightly higher
than in the previous week.
Department store sales in the Capt.
tai receded per cent from the pre-
ceeding week and 81 per cent from
the same 1885 week. The drop was
due to the fact that the later two
periods contained the final shopping
days of Easter week. The same situa-
ton prevailed in other fifth district
cities. Wholesale trade showed ad-
vancing comparisons, as did clear
ings and bank debts.
In Washington, tourist activities
decreased somewhat from both the
previous week and the same 1885
week, as evidenced by registrations at
the Smithsonian Institution, which
were 74,815 for the past week, 100,328
for the previous week and 96,a41 for
same week last year.
d. c. Bankers at Hot Springs.
The Washington delegation was due
at Hot Springs, Va, this morning to
attend the Spring meeting of the Ex-
ecutive Council of the American Bank
ers' Association. The governing body
of the association will be in session
tomorrow, Tuesday and Wednesday,
many banking problems being dis
cussed in executive session.
President Fleming is due to present
two reports. Wide interest also centers
in the report of the Special Committee
on Investment Regulations, of which
Tom K. Smith, first vice president of
the A. B. A., is chairman. Competition
from postal savings will also get con-
siderable attention.
The American Banker says that
talk is already being heard about can
didates for second vice president at
the annual convention. Names men
toned include Robert M Hanes, Win
ston-Salem. N. c.; James H Perkins,
National City Bank, New York, and
o. Howard Wolfe of Philadelphia. An
attendance of more than $50 will make
a new record for the Spring meeting.
Record Attendance Forecast.
Reservations already received indi-
cate a record attendance of bank
officers and directors at the annual
pre-convention dinner of the District
Bankers Association, at the Columbia
Country Club on Tuesday, May 5, Hill
cary G. Hoskinson, chairman of the
committee in charge, announced yes
terday. The club can accommodate
about 225 bankers.
Acceptances of invitations have been
received from several distinguished
Government officials Charles H. Do
lllS, Vi Gllc dSSUCldGlOIl, Will
preside and Ord Preston, chairman of
the General Convention Committee
will outline plans for the coming
annual convention at White Sulphur
Springs.
It is expected informal addresses
will be made by some of the guests
and Chairman Hoskinson's committee
has arranged an entertainment pro-
gram to follow. The annual golf
tournament for the Robert v. Flem-
ing Cup will take place in the after
noon.
d. C. Securities Hold Firm.
Capital Transit stock sold at 145s
and closed at 14& on the Washington
Exchange yesterday. Potomac Electric
Power 512 per cent opened at Ill
and closed at 1111a. Capital Traction
IS came out at. 9012 on $1,000 and
$500 transfers. Mergenthaler Limo
type, on which so cent dividend
was declared during the week, closed