Evening star., 1939-09-08


citation and Raymond B. Dickey,
dean of the institute faculty, will
also address the serious-minded
financiers.
John A. Reilly, third vice presi-
dent of the District Bankers Asso-
citation and president of the Second
National Bank, will deliver the COM
mencement address.
Prizes will be awarded to six STU
dents who have had the highest
averages. These prizes are con-
tributed by the Washington Clear
ing House Association and by the
endowment fund of the late Charles
j. Bell, former president of the
American Security & Trust Co.
Miss Anne Crawford, president of
the Bank Womens' Club of Wash
ington, will present from that asso-
citation a prize to the woman who
this year completed the standard
course with the highest average.
Dancing in the large ballroom will
follow the exercises.
Peoples Drug Sales Mount.
Net sales of Peoples Drug Stores
Inc, in August amounted to ST.
811958.38 in comparison with total
sales of S1,741 978 95 in August, 1898,
an increase of S69,97943 or Al per
cent, it was reported at the head
office of the big chain system here
today
Sales in the first eight months
of this year tOtaled Sl4 500 1876 80
compared with Sl3,84921706 in the
corresponding eight months in 1898,
an increase so far in 1889 of S672.-
96974 or ABS per cent, the report
stated.
Total net sales in July were slight
ly ahead of August, reaching ST.
813,77451, or 5.35 per cent higher
than July year ago.
Fleming On Advisory Council.
Robert " Fleming, president of
the Riggs National Bank, member
of the Executive Council and former
president of the American Bankers
Association, has been appointed
member of the Agricultural Advisory
Council by Secretary Wallace, it was
learned today.
Secretary Wallace announced that
the complete council would contain
% members, double the number
stated last Monday The council is
to meet with the secretary on Sep
tember 19 to assist in the formula
ton of policies to deal with the
situation brought about by the Eu-
ropean war.
Other new members of the coun-
Gil include Charles Holman, secre-
tary of the American Institute of
Cooperation, Washington; John A.
Logan president of the National
Association of Food Chains, Wash
ington; c. T. Murchison, president
of the Cotton Textile Institute,
Washington; Edward A. ONeal,
president American Farm Bureau,
Chicago, and Bibb Graves, former
Governor of Alabama.
Nolan on Investment Slate.
James Parker Nolan of Folger,
Nolan & Co., this city, was expected
to be elected first vice chairman at
the annual meeting of the South
eastern Group, Investment Bankers
Association of America, at the Mer-
chants Club, Baltimore, this after
noon. He has been second vice
chairman this year.
Most of the leading investment
bankers in Washington left the city
early this afternoon to attend the
meeting, set for 3 o'clock. William
j. Prince of Baltimore was on the
slate for chairman; Rutherford
Fleet, Richmond, second vice chair
man, and j. Elliott Irvine, Balti-
more, secretary.
Important changes in the ma
tional associations constitution were
to be voted upon at today's meet
ing.
Delegates to Convention.
Walter H. Smith, general man
ager, and Oscar A. Thorup, local
branch manager of Remington
Rand, Inc, manufacturers of office
equipment and machines, will leave
here Sunday for a five-day visit to
Marietta, Ohio, where they will join
branch managers and company
executives in their annual sales
conference.
Home Office executives from Buf-
falo and managers from every State
in the Union, Canada and abroad
will attend. The scene of the con-
ference will be the safe-cabinet fac
tory and laboratory, said to be the
largest privately owned laboratory
in the world for testing the eff
cheney of flre-resisting safes and
various types of filing equipment.
1t is expected that many tests of
such equipment will be witnessed.
August Bond Issues Slump.
The voters of 63 communities in
II States during August authorized
a total Of $2,503, 100 in State and
municipal bond flotations as COM
pared with $49,712,232 in August of
last year. according to The Daily
Bond Buyer of New York.
While this total seems unusually
small in comparison with the figure
for last August, it must be remem-
bered that during August, Septem-
Der, october and November of last
year bond authorizations were ex-
tremely heavy, due to the P. w. A.
program.
August totals of other years were
$6612,200 in 1887 and $7,186, 700 in
1886. The total for July of this Year
was $4,829,2OC
Washington Bank Stocks Firm.
Bank stocks drew all the attention
on the Washington Stock Exchange
today, prices holding firm as the
Rock of Gibraltar. Riggs National
Bank common appeared on the
board at 265 on a single share turn
over. The price was unchanged
from yesterdays sale.
Washington Loan & Trust Co.
figured in flve-share sale at 235.
This, too, was unchanged from the
last previous transfer Other bank
stock quotations were practically un-