Evening star., 1938-10-30
MODERATE DROP
IN SALES SHOWN
BYPEOPLES DRUG
Total $15,556,721 Against
$16,286,237 for Nine
Months of 1887.
SLIGHT DECLINE SEEN
AT Department STORES
Volumes for Week Off is Per Cent
From Year Ago-Clearings
Also Remain Down.
BY EDWARD c. STONE.

year reached the substances! sum of
$15,556, SO in comparison with S16,-
86,237.22 in the like period year
ago, it was announced at the head
office of the big chain store system here
yesterday. Other store income amount
ed to $20s,S so, against 1928, 1854 a
year ago.
Cost of sales store operation, general
and administrative expenses required
$15,289, ,656.67, compared with $15,-
740,049.53, and leaving an operating
profit of $476,86741, against $780,
3O6.23 last year. After all deductions
of miscellaneous charges, estimated
Federal taxes and excess profits taxes,
Peoples Drug had total net profit
OF s426, 1858 04, as compared with $685.
224.39 in the first nine months of 1887
Dividends on preferred stock called
Tor S42,192.58, against S45, ,36l 80 last
year, leaving net profits available for
the common stock of $384,17O.46. in
comparison with S636,863O9. This is
equivalent to $l57 per share on the
245,474 shares of common stock, COM
pared with $3.50 share in the cor
responding nine months last year.
Peoples Drug reported an earned
surplus as of September 80 of So
275,47l, against S2,954,627 Total
assets at the end of September stood
at S8,425,Sl495, against $8,381,O1210.
The company reported total current
liabilities of Sl,528, 1878, this figure
. year ago standing at $l,6l3,82585
the report shows
d. c. Trade Close to 1897.
Retail trade in Washington depart
ment stores during the week Just
ended was very near the mark in the
corresponding week a year ago. the
Commerce Department reported yes
terday, the average being is per cent
lower. Trade ranged from a decrease
OF IA per cent to gain of almost S
per cent, the report stated Compared
with the previous week of this year
trade in the Capital registered an
average decrease of 34 per cent.
Washington bank clea-ings totaled
!, $f9H 9H55' 'fl4 ~ year. ago, .$21,0e4.s6o
1ddmg permits acored notable
gain, yS534,800. including a permit of
$1AHo00 for construction Of "a row
z Ees, comparing with $4,000 in
tht corresponding week last year. To-
taf passenger revenues OF the Capital
TrapAit Co, for the week ended We'd
s1esday reached s222, Ali, against s2o4.- =
800 Ia 1887. There were more visitors
to the Washington Monument than
year ago but not as many as in the
previous week. s.
Trade in the rest of the fifth district
was spotty. Charleston, S. c., re-
ported an increase of 10 per cent over
last year. Baltimore reported i'm
provement In wholesale trade. Mer-
chants say all they want is cold
weather.
Riggs Employees Hear Experts.
Robert V. Fleming. president of the
Riggs National Bank, addressed 300
employees of the bank at a customer
relations meeting held at the Ward
man Park Hotel Friday night. He
explained in detail policies of the
bank, banking regulations and pre-
sented host of other financial facts
OF value to everybody engaged in any
department of banking The aim of
MS talk was to give the Riggs staff
information of special use in dealing
with the public, thus putting employees
In a position to answer intelligently
any questions that may arise in their
daily contacts with customers.
Dr. William Mcclellan, president of
the Potomac Electric Power Co.. also
> spoke, presenting the problems faced
oy big utility concerns in their public
relations. They are much the same
as those of banks. A great many mis-
understandings can be avoided if
utility employees are familiar with
company regulations and the reasons
1or them, the speaker said. The last
thing a utility company wants to do
Is to turn off the power, he said.
keeping the meters going means as
much to utility corporation as max
ing loans does to bank. Both are
necessary. When bills are constantly
ignored, service has to be cut off. He
aooed that 1t costs the company more
10 shut off a meter than it does the
customer.
Fhlllp M. Garnett, chairman of the
oanks Public Relations Council. pre-
sided. The council is made up of Is
employees chosen by the employees.
George o. Vass, vice president and
cashier OF the bank, outlined the pro-
gram Tor the rest of the year, Riggs
nelng one OF the pioneer institutions in
tne country to initiate such meetings.
Building Association Moves.
WIN the formal opening and in
spection set for Tuesday evening the
new offices of the National Permanent
buAolng Association will be ready to
serve the patrons tomorrow morning.
Located at Tenth and G place NV.
the new quarters are unusually at
tractive and will give the association
An increase Of approximately 100 per
cent In operating floor space.
r. E. Buckley, president, said ves-
terday that the alterations and ad-
ditions include every modern con-
'venience. The association first opened
for business on October 3, 1890. As
sets now total 100000, highest in
the associations 48 years of existence
The officers and directors of the in
stitution will hold open house" Tues
day evening and expect a host of
people to drop in.
Officers, besides Mr.. Buckley are
Harry M. Packard. vice president;
Millerd T. Dixon, treasurer; Roland
M. Brown, secretary, with directo-
rate composed of John B. Geier,
Joseph F. Zegowitz Francis l.. Neu-
beck, Alphone c. Hammer, James E.
Collidower and Charles M. Wallings-
ford.