Evening star., 1938-05-01
CLEAR|NCS SHOW
GAIN IN MONTH,
HOLD BELOW 1887
April Total at $101, 1872,
Against $95, ,692, ,938 in
Previous Period.
LATE EASTER NA2ROWS
DROP FROM YEAR AGO
Peoples Drug Reports Net of 81
Cents a Share, Compared to
$1.10 Last Year.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Indicating a turn for the better,
bank clearings in the Capital in April
totaled $l0l, ,l04,372.83 as compared
with s95,692, 1888 in March, the WASH
ington Clearing House, George H.
Bright, manager, reported yesterday.
Clearings here, however were be-
low April. 1887. when they totaled
$115,6l5,48433, or a slump of $14,-
511,1l1.5o for the month just ended.
The April decrease was not as large
as the March decline Furthermore,
recent weekly reports have revealed
that the decreases are being steadily
reduced.
Clearings in the Capital in the first
four months of this year totaled s374.-
464,l35.59. the report stated, in COM
parison with s423, ,252 ,857.29 in the like
period in 1887. This is a drop of
$48,788, ,721.70 so far this year. the
decrease not being nearly as severe as
in many other large cities While the
late Easter helped April figures, they
could not catch up with last years
returns. Monthly comparisons for
1898 with the corresponding months
in 1887 follow:
1888 1887
January s3,436,18S slO0,562 ,O83
February 84,231,245 92,192,370
March $500 95,692, 1893 114,782,918
April -----101 ,104,372 115,615,484
Peoples Drug Earnings Drop.
In line with other big chain drug
concerns, earnings of Peoples Drug
Stores Inc. in the first quarter of 1888
we're lower than in the like period in
1887. After payment of preferred
dividends. the company earned 81
cents a share on the common stock
compared with $11o a year ago, it was
reported yesterday at the head Office
here
Net sales in the first quarter
amounted to s5,169,489.34 against
s5,422,766.5s year ago. The cost of
sales and store operation was about
100000 lower than last year, leaving
an operating profit Of s164, ,54O.64 as
compared with $3ls,e43.66 in the like
1887 period.
After all deductions net profits for
the period amounted to s152,861 so in
comparison with 1924, 1878 in 1927.
From this sum $14,063.74 was deducted
for preferred stock dividends, leaving
net profit available for the common
stock Of $138,797.78 During the pc
riod Peoples Drug paid s61, ,36s.50 on
the common stock, same as last year.
Earned surplus as of March 81, 1898,
was s3,089,l7292 against $2,838, 8,103.e5
in 1887, the report stated. Total as
sets were placed at s7,927,531.78 VS..
$7,937, ,366.24 in 1887.
d. C. Retail Trade Holds Up.
Washington was one of eight lead
ing cities in the country in which
retail trade during the past week was
better than year ago. The gain here
was one-half Of one per cent. Indi-
vidual stores varied from an increase
OF 1872 per cent to a decrease of 10
per cent in comparison with a year
ago. Rejecting the pre-Eeaster
slump, trade was 81 per cent behind
the previous week
Retail sales in the rest of the Fifth
District were about the same as last
year, except at Charleston, S. c., where
the annual azalea festival, which sur
passed all previous records, boosted
business 7 per cent. Baltimore and
Richmond remained fairly close to
last years comparatives, the March,
April volume fairly near to last year
Wholesale trade reflected the quiet
tone of the retail segment.
Washington bank clearings totaled
s2l, ,983,037; year ago, $22,355, ,675.
Building permits for the week amount
ed to $335,600 including an Office
building for sl30,000 against s451 400
a year ago, the Commerce Department
review stated.
Washington Gas Net Climbs.
Net income Of the Washington Gas
Light Co. in the first quarter of this
year amounted to $542045 as COM
pared with $403,9s1 in the same
months a year ago, an increase of
$l36,054, according to the statement
f1led yesterday with the Public Utili-
ties Commission.
The gas company also reported a
good gain in March earnings, when
net income totaled s171,24s. This
compared with $l39,042 in March.
1897, or an increase this wear Of
$32,965.
Convention Committee Listed.
President Thomas j. Groom of the
District Bankers Association yester-
day announced the following Women's
Committee for the annual June con-
vention to be held at Hot Springs, Va:
Mrs. Thomas J. Groom, chairman;
Mrs. Hilleary g. Hoskinson, vice
chairman; Mrs. Robert v. Fleming,
Mrs. Albert S. Galley, Mrs. T. Stanley
Holland, Mrs. Robert H. Lacey, Mrs.
A. M. McLachlen, Mrs. s. William
Miller, Mrs. A. Scott Offutt, Mrs. Ord
Preston, Mrs. Frederick P. H. Sid
dons, Mrs. Sidney F. Taliaferro and
Mrs. William B. Willard.
Gas Issues Lead Exchange.
Washington Gas Light IS were
strong on the Washington Stock Ex-
change yesterday, selling at 105h.
Five lo-share lots of Washington Gas
preferred stock and one 15-share lot
sold at 98%.
Trading during the week was some-
what more active, most quotations re-
manning around recent levels.
NEW YORK COFFEE.