Evening star., 1939-10-29

$194 per share, Malcolm q. Gibbs.
against 1884 4l70.46 or $157 per share
in the first nine months of 1898,
the report added.
The drug chain of which NAL
colin G. Gibbs is president, reported
an operating profit in the nine
months of s601, 1888 against S476,-
867.4l a year ago and total in
come of S66l ,847l0 compared with
$536 94O57. Deductions of miscella-
neous charges and taxes left net
profit of s5l49lS46 against S426,-
36304 in 1888. Earned surplus stood
at $3,557, ,9O49S; year ago, S3,205,-
47l10.
The report shows total cash on
hand amounting to $1453, 1877 85
against Sl,880,352 49 a year ago; to-
tai current assets of S4636. 1856 80,
as compared with s5,O98,4 OF; and
total assets of 1884 588.71 VS.. So
406 291.19 year ago.
The consolidated balance sheet
reveals total current liabilities of
$1,426,552 80 in comparison with
S1,528. .167 9S: miscellaneous reserves
of 1922 96056 against $3.50, ,387.8l a
year ago; and reserves for Federal
income taxes of $11303089 COM
pared with $83l2430 on Sept. 30,
1898. Peoples Drug now has 245,-
474 shares of common stock out
standing, the preferred having been
retired.
Acacia Insurance Up Sharply.
William Montgomery, president of
the Acacia Mutual Life Insurance
Co., announced yesterday that
business in the first nine months of
this year revealed sharp gain of IA
per cent over the like period year
ago, an evidence of substantial eco
nomic improvement all over the
United States, which he considers
is based on sound domestic factors
rather than on the anticipation of
a war boom.
The company's lapse rate is down
to less than 5 per cent, represent
Ing 10 per cent improvement over
last year. This is the best possible
indication of business improve
ments, Mr.. Montgomery declared.
At the same time there has been
an II per cent decrease in the
volume of policy loans. he added.
The company's total insurance as
Of September 80 was s4O6,833 947,
which compares with S4O1 ,348,843 on
January of this year.
Acacia is continuing to play a
highly constructive role, Mr. Mont
gomery said, in stimulating home
ownership in the District of Co.
1umbia and contiguous area. Thus,
as of September 80, Acacia had
total of 4,536 first mortgage loans
amounting to $23,O97,549 in the
Greater Washington region, against
3,947 loans aggregating $24,431 ,920
on the same date one year ago. Most
OF these loans are on one-familv
private dwellings being purchased
by their occupants.
Gas Net Scores $266,436 Rise.
For the first nine months of this
year the Washington Gas Light
Company reports the net income of
$82O,317 compared with $685. ,881 for
the same period last year, an in
crease of s266,436.
Gas sales for September were 653-
743 mic. in comparison with 65l 294
met. year ago. There were 155Ol6
meters in service on September 30.
1899, a gain of 5,e32 over the same
date last year.
The company expended approXi-
mately $1l2,083 in September for
improvements and additions to care
Tor service requirements of custom
ers and over S760337 for that Dur
pose during the first nine months
OF the current year.
September earnings, as reported
yesterday, showed a loss of s27,223
over a year ago, when the seasonal
loss was S45,133
Peoples Drug at New Peak.
Peoples Drug Stores common stock
figured in 56-share sale on the
Washington Stock Exchange yester-
day at 34l2, new high h'for the year.
Fifty shares sold Friday at "a.
On the exchange yesterday, 80
shares of Mergenthaler Linotype
changed hands at II and 10 shares
OF Washington Gas Light preferred
was strong at 1041s. Volume of
trading for the week was the best in
q long time.
Junior Bankers Plan Forums,
Richard L. Johnson, National Saw
1ngs & Trust Co., has recently been
appointed chairman of the Forum
Committee of Washington Chapter,
American Institute of Banking, by
Francis E. Robey, chapter president.
Mr.. johnson has been active in
washington Chapter for several
years. is a graduate of Norwich
University and the Harvard Grad
uate School of Business Administra.
ton. His committee will plan several
forums for the year featuring out