Evening star., 1936-11-13
NEW HIGH REACHED
BY PEOPLES DRUG
Common Stock Advances to
$3.50 a Share on New
York Market.
BY EDWARD C. STONE.

snare. 1IllS .uSuTe WdS IedCIlSu III
Wall Street, where most of the recent
sales have taken place.
The stock has made outstanding
progress so far this year, having
doubled in value. Starting with a
low mark Of $50 a share, the price
has advanced without any particular
ly spectacular moves to its present
position. Good earnings reports have
helped the stock hold its gains.
The latest report on Peoples Drug
earnings showed an increase of 14.5
per cent in October over October,
1885, and an advance of 9.6 per cent
in the first 10 months of 1886 over
the like period last year. This re-
port, out few days ago, no doubt
has called special attention to the
stock.
Peoples Drug Stores 612 per cent
preferred stock changed hands at
SIP share in the last sale on the
Washington Exchange. The stock has
remained in a fairly narrow range
during the year, with low of s11o.5o
o share and high mark of $ll4.5o.
Other issues on the local board
which have recently scored top prices
for 1886 include Security Storage Co.,
Potomac Electric Power 314 per cent
bonds, Riggs National Bank common
stock, American Security & Trust
stock, Lanston. Monotype, Washington
Gas, Mergenthaler Linotype, Wash
ington Gas SIS, 1860, and Real Estate
Mortgage & Guaranty preferred stock.
Index Near Five-Year Level.
Federal Reserve Board governors an
nounce that the october rise in retail
trade brought the boards adjusted in
dex to one of the highest levels in five
years. The advance was caused by the
dollar volume increases in all districts,
ranging from "a per cent in the Dallas
region to II per cent in Philadelphia
and San Francisco.
The Reserve Boards adjusted index
stood at 90 for october compared with
S8 for September and with 81 for July,
which set the fve-year high. In Oc-
tober a year ago the index, which is
based on the 1923-1925 average as 100,
was only 70.
The unadjusted index moved even
higher, reaching SO in October, the
highest level in five years excepting
only the annual Christmas peaks. The
unadjusted index was "a in September
against Sc in october, 1885.
Variety Store Sales Step Up.
Daily average sales of variety stores
for October were about 9 per cent
higher than for October of last year
and about II per cent above the same
month of 1914, according to the De-
partment Of Commerce.
Sales increased about 4 per cent
from September to October. or less
than the usual increase at this sea-
son of the year. The seasonally ad-
justed index therefore receded to 100
for October, on the basis of the aver
age for 1929-31 as 100. from 1921 for
September and = for August.
The aggregate value Of sales for the
first 10 months of the year was 8 per
cent above that for the same period
of 1885.
ID. c. Clearings Go Higher.
The Washington Clearing House
for the week ended November II, as
compared with s18,9l3,55055 in the
same period last year, an increase Of
Al per cent. Compared with total
of S21, ,912 ,263.70 in the previous week,
clearings here increased 21.74 per cent.
The Washington Gas Light Co. has
filed an amendment with the Securi-
ties and Exchange Commission post
poning the proposed offering of 130,-
coo shares of outstanding $40 par
value capital stock until November 80.
Members of the District of Colum-
bia Chapter of Chartered Life Under
writer's held an informal dinner last
night, extending encouragement to the
30 Washington insurance agents who
are preparing for the examination of
the American College of Life Under
writer's. There are now 33 chartered
life underwriters in the Capital, three
of whom are on the faculty of the
District associations new insurance
school.
Hemphill, Noyes g. Co. and Macku-
bin, Legg g. Co., are among the un-
derwriters of an issue of $4,000
shares of Bath Iron Works Corp
common stock placed on the market
today at $12 per share.
Heard in Financial District.
Robert N. Sisson, chairman of the
Entertainment Committee of Wash
ington Chapter, American Institute
Of Banking, expects large attend
ance at the Fall dance tomorrow eve-
ming in the large ball room at the
Willard Hotel. The program calls for
dancing from IL to l with music by
an l1-piece orchestra.
Wilmer j. Waller, vice president
and cashier of the Hamilton National
Bank, was guest at the dinner of
group 8, Virginia Bankers Associa-
tion, at Alexandria on Armistice day.
when nearly 800 financiers gathered
for an all-day session. The meeting
was held on day when the Virginia
banks were closed, thus permitting
record turnout
The new series of United Savings
Bonds, known as baby bonds" will
90 on sale on January /. The Treas
ury will offer the same terms on the
new issue as have been carried by
the present issue, which yields 30
per cent if held to maturity. The
change in series is necessitated by the
dating of the bonds
g. M. P. Murphy Ss Co. and Charles
d. Barney & Co. are in the list of
underwriters offering an issue of
$4,000 shares of Butler, Bros. per
cent preferred stock today. Is
Today's Trading on Exchange.
Anacostia & Potomac r. R. IS were
In demand today on the Washington
Stock Exchange, five $1,000 transfers
taking place at rs, unchanged Cap
ital Transit stock appeared on the
board several times at 1312.
Washington Railway & Electric
preferred was active at 110 and
Lanston Monotype changed hands