Evening star., 1937-04-25
Store Sales Up 12.37 Per
Cent From Level of Pre-
ceding Week.
BIG IMPROVEMENT SEEN
IN TRANSIT REVENUES
March Operating Total Jumps Is
Per Cent Above Year Ago.
$17,731 Net Reported.
BY EDWARD C. STONE

tngs and newly issued building permits
showed substantial Improvement over
the comparable period a year ago,
according to the Commerce Depart
ment's weekly survey.
Store sales in the Capital advanced
12.37 per cent over the preceding week
and lib per cent over the correspond
Ing 1896 week. Bank clearings, show
ing the amount of business transacted
by checks, totaled $27,370,343 for the
week ended April 81 in comparison
with $22 2,380,621 year ago, while the
value of building permits issued in
Washington during the week under
review amounted to $563,285 against
$4ll $50 year ago.
Retail trade In the rest of the Fifth
District was very definitely ahead Of
the corresponding week in 1896, the
report adds, and generally better than
the preceding week. Cool tempera-
turss have been retarding trade but
IN spite OF this the trend has remained
upward. Merchants are cheerful as
they expect the first warm wave to
start rush of Summer buying. Whole
sale trade is holding up well.
Capital Transit Net Rises.
Net earnings of the Capital Transit
Co. appear to be turning the corner,
according to the March statement filed
yesterday with the Public Utilities
Commission. Operating revenues
amounted to ss64,57739, scoring
gain Of s125,649.42 or Is per cent over
March 1886. Operating expenses
climbed to s732 1866, an increase of
$73,295.86 or II per cent and taxes
totaled s69,063.25, an increase of s53,-
741.69 or % per cent. Depreciation
called for s90,771.67. up 10 per cent.
Total expenses, taxes and deprecia-
tion stood at 1892, 2,23l.87, or S97,416.57
higher than year ago and a rise of IL
per cent. Operating income totaled
s72,345 so or 81 per cent gain. Nom
operating income was $2,521.5O and
deductions from gross for interest re-
quired $57,l35.69, leaving a total net
income of s17,73133 against a deficit
OF s5,614.50 in March 1886, making an
Improvement Of $23,34583. At the
same time there was gain in revenue
passengers, 14,683,308 in March this
year against 14,252,80l, an increase of
43o,7o7.
Earnings for the first quarter
showed deficit of s2,51389, against
deficit in 1886 OF $84 4,662.38, which
means an improvement in net earn
ings so far this year of s82, 2,14849, or
an upturn of 81 per cent. Operating
revenues totaled s2,69l ,82836, an in
crease of S229,37586. Total operating
expenses, taxes and depreciation re-
quired $2,534, 1890, an increase of
S137,1476e.
Deduction Of operating expenses
left an operating income of 1885,
e3S.46, against only S647lO29 a year
ago. gain of s92,22817 or 1925 per
cent. Revenue passengers showed
substantial improvement, reaching
4l,060,4l8 and gain of 553,63O over
the first three months of 1886.
Peoples Drug Sales Higher.
Net sales of Peoples Drug Stores,
inc, In the first quarter of 1887 to-
teled $5,422, 1869, against $4,844,-
1882 year ago, the chain stores
head Office reported here yesterday.
The company had an operating profit
OF S3l9,643.66, compared with S307,-
e0l.74 last year.
After the usual deductions for taxes,
the company reported net profit for
the period of 1924, 1919, as compared
Nuith the 1prror of e to-,
the first quarter of 1896. Dividends
on preferred stock called for s15,118.-
80, against $3l, ,369.43 year ago, leav-
Ing net profit available for common
stock of $3.50 ,o4489. compared with
s239, 9,035.24 last year, this being equal
to $1.10 per share on the common,
against 81 cents In the like 1896
period.
The fifth annual Eastern Regional
Conference of the National Associa-
tion Of Bank Auditors and Controllers
was concluded last night with a ban
quet at the Wardman Park Hotel
Strickland Gillian was toastmaster
and Edward Stone, an economist con-
nected with the Resettlement Admin
ktration, was the guest speaker.
The business of the conference was
concluded yesterday forenoon and the
afternoon given to sightseeing The
800 out-of-town bankers were greatly
impressed with the program arranged
by the auditors section of the District
Bankers Association. Auditors and
controllers were here from as far north
as Maine, south to Florida and west to
Pittsburgh.
Ofutt Named Sport Chief.
A. Scott Of1utt, vice president Of the
City Bank, has been designated head
OF the Sports Committee Of the Nine
teenth Annual Convention of the Dis
trict Bankers Association, according
to an announcement by Thomas j.
Groom, acting president of the Asso-
ciation. Mr.. Offutt Is now at White
Sulphur Springs, with other COM
mittee chairmen completing final con-
vention arrangements.
c. H. Pope, vice president of the
Munsey Trust Co., Is the vice chair
man. Other mombers Of the commit
tee are: Earle M. Amick, Riggs Ma
tional; Bruck Baird, National Savings
IL Trust Co.; Leonard Marbury,
Washington Loan g. Trust Co.; Rich
ard "A. Norris, Lincoln National; Frank
M. Perley, American Security g. Trust
Co., and w. T. Vandoren, Liberty
National.
The Reserve Bank of Richmond re-
ported yesterday that collections in
Washington in March were fair, being
SIT per cent of receivables due the
first Of the month, against average
collections for the whole nth district
Of 2e.7 per cent.