Evening star., 1941-05-09

VI Do4lh4l4S, az 4blAO6SIo D SLllfI IA OAly
Promoted during the last year,
Mr.. Christie is an assistant cashier
in the Riggs National main office,
being connected with the invest
ment department. He has been
with the bank five years and
previously was with w. B. Hibbs
e. Co. for seven years.
Kenneth Birgfeld of the Ameri-
can Security e. Trust Co, was
elected first vice president; George
M. Rowzee, jr., of the Lincoln Ma
tional. was made second vice presi-
dent, and Miss Sophia Karydakis,
with the Second National, was
named secretary.
Lively contests resulted in the
choice Of Neal Wells, National Saw
tnes & Trust Co. for treasurer;
Dorothy Werner, Hamilton National
assistant secretary, and Fred Daum,
Security Savings & Commercial,
chief consul.
These members of Washington
Chapter were elected to the Board
of Governors: George Earnshaw
National Metropolitan; Raymond L.
Jones, United States Treasury De-
partment, and J. Earle McGeary,
w. B. Hibbs & Co.
Store Sales Reveal Gains.
Department store sales in WASH
ingtop for the week ending May 3
were per cent ahead of the cor
responding week a year ago, and
27 per cent better than in the
previous week this year, the Federal
Reserve Bank of Richmond reported
today.
Sales in the fifth district were up
10 per cent over the same week last
year, gained l9 per cent in Balti-
more and % per cent in group of
other cities, the report adds. Sales
in the whole district averaged Is
per cent better than in the previous
week this year
Sales in Washington in the four
weeks ended May were 80 per cent
ahead Of the like period a year ago,
were up 80 per cent in the fifth dis
trict, IS per cent in Baltimore and
1o per cent in the group of other
cities. todays report said.
Utility Earnings Increase.
Three of the four Washington
utility corporations reported IN
creases in earnings in the first quar-
ter over the first three months of
1910, latest statements filed with
the Public Utilities Commission dis
close.
Net earnings of the Potomac Elec-
trio Power Co. in the first quarter
amounted to s1.172972.39, against
s1,11906853 a year ago, gain of
$50 .903. Sc, or 4.82 per cent. over
1910.
The Capital Transit Co. reported
a net income of S223,O6719 VS.. S1O7,-
53l86 in the like 1910 period, an
upturn of Sis. 5.535.3 .33, or 107 per cent
The Chesapeake & Potomac Tele-
phone Co. reported net earnings of
S5187O3 in the quarter, against
s498,579 last year, gain of S30,l24
over the 1910 returns.
The Washington Gas Light Co.
reported net income of S745, ,839,
against S789,14l in the first three
months of 1910, small decrease of
$34.302, due to higher operating eX-
penses and taxes and part OF the
time to unusually mild weather.
Peoples Drug Dividend Voted.
Directors of Peoples Drug Stores,
Inc, have declared dividend OF
40 cents per share on the common
stock July l, to stockholders of rec
ord June 8. it was announced to-
day. This is the same amount as
was paid in the first quarter.
Directors of the National Mortgage
e. Investment Corp. have elected
Homer Phillips to membership on
the board President Joseph M.
Schaaf announced today. Mr.. Phil
lips is president of the real estate
firm of Phillips g. Candy.
Washington bankers said today
that there continues to be steady
demand for the new defense savings
bonds although there is no such rush
as was noted on the opening day.
There is still a good demand for
the stamps although it is said that
the greater part of these sales are
being made at the post Offices. Sec
retary Morgenthau has announced
that the first weeks sales for the
country totaled more than s114,-
100000.
Multiple Trading Favored.
Brokers in the Capital, who are
connected with the New York STOCK
Exchange, hope that the Securities
and Exchange Commission will be
able to force the exchange to with
draw the so-called multiple trading
rule. The exchange claims the S
&c. has no right to insist that thu
rule be recinded as it is of no con-
Germ to the public.
The regulation prevents members
outside of New York trading In
stock on their own exchanges II the
stock is listed on the New Yori
board. Brokers here say this work:
tn the serious disadvantage OF the
smaller exchanges. They want Il
he free to trade on their home ex'
changes.
The S. E. c.. which has been hold
ing hearings on the subject. claim!
the rule might even destroy some o.
the regional exchanges and have ar
adverse effect on the investing
public.
Gas Issues Get Attention.
Washington Gas Light preferred
stock figured in sales OF 8, ~, II
25 and u share lots on the Wash.
ington Stock Exchange today, all al
lo417. up u. Gas common movec
at 20A, also fractionally higher.
Mergenthaler Linotype appeared
on the board today for the first time
IN many sessions, 60 shares selling
At 1834, off from last previous sale
Potomac Electric Power per cent
preferred changed hands at ll517 or
Q small sale.