Evening star., 1941-12-03
Peoples Drug Votes
Accent Dividend
On Common Stock
Three Other Similar
Quarterly Payments
Declared in l94l
Ry EDWARD c. STONE.

dividend OF 40 cents per share on the
outstanding common stock. payable
on December %. to stockholders ol
record on December Is. it was an
nounCed at the head Office here to-
day.
This was the fourth Accent divi-
dend declared during the present
year making a total of 81 so pei
share. The amount is practically the
same ss the company paid in 1910
when the total for the II months
was sl62l2 per share. the slight diff
ference being due to a change in
the stock.
Action on the final dividend for
this year was delayed at the No
vember meeting of the directors
There was no question about last
quarter dividend being declared, but
the board wished to wait few days
to get a clearer picture of the
years final earnings. and perhaps a
better glance at the 1912 outlook
The amount to be voted was the
only question involved.
The directors of Safeway Stores,
Inc. in addition to the regular 75-
cent quarterly and extra 50cent
dividend on the common stock. have
also declared the quarterly dividend
of Sl.25 a share on the preferred
stock. payable January TO stock OF
record December -, it was an
nounced today.
Record Exchange Trading.
The Washington Stock Exchange
recorded one of the heaviest trading
sessions in several years today.
The market opened with 20 shares
Of Washington Gas common selling
at II. followed by three sales of 100
shares each at 16a4 and final r.
share sale at II.
Lanston Monotype came out to-
day. opening with small sale at
2la.. a l0-share transfer later at
90. and a tiny sale at 20.
Mergenthaler Linotype was strong,
opening with 81 shares selling at
28ig. a new high. One hundred
shares moved at 28l4 and six at %.
Thirty shares OF Potomac Power
6 per cent preferred commanded ll6
While the 81. per cent preferred
moved at ll4'2.
National Mortgage & Investment
preferred came out on l0O-share
sale at As and 80 shares Of Capital
Transit brought is.
Bell System Phones Gain.
The American Telephone & Tele-
graph today reported gain of
about l02.110 telephones in service in
the Bell System during November,
compared with an increase Of 10000
in the previous month and 90.500 in
the like 1870 period, according TO
the Associated Press.
Hemphill, Moves e. Co. and Mer-
rill. Lynch, Pierce. Fenner q Beane
Yesterday offered publicly at g.. on
a when issued basis 44340 shares
Of Erie Railroad new common stock
represented by their purchase of
22l 700 Erie shares, including some
lots of preferred stocks. from Chesa-
peake e. Ohio Railway Co. The
stock, offered after the close of the
stock market, was oversubscribed.
During November. the voters Of
los communities located in 81
States approved a total Of SIS 220.-
100 Of new bond issues as compared
with S55.7l8,358 during November,
1910. according to the Daily Bond
BUYER. The total for October of this
year was sl3.724200.
Utility Nets Reduced
Earnings reports Of Washington
four big utility corporations for the
first 10 months of this year clearly
showed the inroads made by in
creased operating expenses and
much heavier taxes into net in
come.
Despite increased operating reve-
nues all along the line, two Of the
companies reported net earnings be-
low a year ago, and third showed
only a slight increase.
Tax increases are now really be-
Ing felt after many months during
which they moved upward only
moderately In addition to the sharp
increases in operating expenses. the
depreciation item also has moved
upward rapidly, largely due to eX-
pansion.
Net income Of the Capital Transit
Co. in the 10 months amounted TO
1898, 1898, against s701,775.28 last
year. striking gain of S29l 6640 05.
or Ais per cent. The gain was
registered in spite of an increase of
So ,O36.370. or 21.5 per cent. III op-
Grating expenses. taxes and depre-
citation.
Expenses Cut Profits.
Net profits of the Washington
Gas Light Co. amounted to S905 .676,
compared with 1889 ,448 last year. a
decrease of S83.772. While operat-
Ing revenues of S7.699.Ol3 were
sl74401 higher, operating expenses
were 1859 994 heavier. this Jump
preventing a substantial increase in
net, while unreasonable weather
also hurt earnings.
Net earnings of the Chesapeake
e. Potomac Telephone Co. totaled
s1.336.190, as compared with the
higher figure of sl.554935 in the
same 1910 months. Operating
revenues were around S2000000
higher than last year. but this in
crease was offset by higher eX-
penses, taxes and interest deduc-
tlonS.
Net revenues of the Potomac
Electric Power Co. reached S3287,-
953, an increase of S24,376 over the
net income a yeor ago, a gain OF less
than / per cent. Here again total
operating revenue deducations were
far heavier than in 1910. Taxes
alone were up s5o8,080, the report
revealed.
Huge Gain in Rail Incomes.
Glass I railroads in the southern
district in the 10 months of l94l
had an estimated net income after
interest and rentals of s605ll, ,23l
compared with SABBATH in the
same period last year.
The same roads had net rail-
way operating income before inter-
q