Evening star., 1936-09-29

Mr.. Macarow, a graduate of Lehigh
University, entered the Bell System
with the American Telephone &
Telegraph Co. as an engineer in
1920 He became traffic super
visor of the Chesapeake & Poto-
mac Telephone Co. at Baltimore
in 1928 and later in the same year
was made traffic superintendent. He
was appointed general traffic man
ager in Washington in 1929.
S. F. Merriam, formerly general
traffic manager of the Virginia COM
pany. succeeds Mr.. Macarow as gen.
eral traffic manager of the Washing
ton company. He began his telephone
career with the Southwestern Bell
Telephone Co. at St. Louis in 1913,
and in 1925 became an engineer in
the operating and engineering depart
ment of the American Telephone &
Telegraph Co. at New York City. He
came to the Chesapeake & Potomac
Telephone Co. at Baltimore in 1929
as division traffic superintendent and
was made general traffic manager OF
the Virginia company in 1881.
Bank Raises Dividend Rate.
President T. Howard Duckett Of
the Prince Georges Bank g. Trust
Co. at Hyattsville, Md, announced
today that the directors have in
creased the dividend to 21a per cent
semi-annually and placed it on 5
per cent yearly basis. This bank
has recently been paying 3 per cent
q year. The stock is listed on the
Washington Exchange.
Average daily sales of chain drug
stores in August. 1886, were. is per
cent higher than in August, 1885, ac-
cording to the Bureau of Foreign and
Domestic Commerce. The greatest
gain was shown by fountain sales.
which we're 1912 per cent higher, fol-
lowed by "all other" sales, which reg
istered no change from last year,
while tobacco sales decreased As per
cent.
Carloadings on the Baltimore &
Ohio Railroad for the week ended
September 26 totaled 53,243, consisting
Of $3.50 cars loaded on line and H.
e83 received from connections. This
was the best week of the current year
and the best week also since the week
ended April Is, 1881, when the total
was 53.426.
Indications are that retail trade in
the fifth Federal Reserve district, in
cluding Washington, in September,
will show a gain of about 10 per cent
above September, 1885. According
TO reports from the Richmond Reserve
Bank hotel, restaurant and theater
businesses are running well ahead of
last year, three good indicators of
widespread improvement.
Today's Trading on Exchange.
Mergenthaler Linotype stock was
especially strong on the Washington
Stock Exchange today, As shares SELL
ing at 4734. This was the best price
in quite long time. Capital Transit
sold at 14h, gain of a full point
over the last previous transaction.
Two shares of Riggs National Bank
common came out at 29o, up full
points.
In the bond division two $500 trans
fers in Washington Gas IS took place
at 12414, unchanged, while 81 900 sale
In Capital Traction IS was recorded
at so34, up "a.
Bankers here were much interested
In the statement by Prof. o. M. w.
Sprague of Harvard and formerly
financial adviser to the Treasury. that
Uncle Sam will get most of the gravy"
If there is any, out of the French
franc devaluation. The French move
tends to bring the currencies of the
major powers more into equilibrium
and Is q favorable omen for world
prosperity and international trade. II
do not anticipate any unfavorable re-
percussions," Prof. Sprague said.