Evening star., 1942-09-17
Peoples Drug Sales
H. Per Cent Above
Year Ago in August
EIGHT Months Volume
l6.9 Per Cent Aheod
OF 1941 Period
BY EDWARD c. STONE.


August totaled $2,7l3,o65ol, an in
crease OF $397 .379.76, or 17.2 per
cent above the total sales of $2,315,-
66S.25 in August a year ago, w. H.
Churchill, treasurer OF the big chain
system, reported here today.
Net sales in the f-st :'-ht months
Of this year amoln. O,23e,-
476.67,, in comparison with $17,3l4,-
7I0.82 in the like period In 194l, a
notable increase of $2,924,765.85, or
1ee, pei. cent, today's report said.
m July Peoples: Drug Store sales
revealed 4 gain Of $390, ,54694, or
ia per cent, practically the same
IS the record for August.
d. c. Speakers Head Program.
Washington will furnish many
SPEAKERS at the annual convention
Of the Controllers Institute Of
America, which opens in Chicago
next Monday for the discussion of
imitation, simplincation of business
reports to the Government, ad-
justment of war contracts, civilian
goods inventory limitation and the
1912 Federal tax bill.
Among the Government speakers
will be Kenneth H. Rockey, chair
man, Navy Price Adjustment Board;
Stuart A. Rice. Bureau of the
Budget; w. w. Werntz SEC;
Thomas H. Sanders, WPB; Paul
Grady, Navy Department.; DIR. E.
v, M. Reed WPB; John A. Wells,
OPA, and Frank p. Smith, OPA.
Paul r. Cadman, economist OF the
American Bankers Association; !;
Thomas N. Tarleau Of the Treas
ury and Ellsworth c. Alvord and
Clinton Davidson. both Of Wash
trgton, also will speak.
The three-day conference will be
attended by several hundred. con-
troliers, treasurers, vice presidents
ana other chief accounting execu-
tives of leading American firms.
Quarterly Dividend Voted.
Directors of the American Secur-
ity & Trust Co. have declared
quarterly dividend of per cent,
payable October 10 to stockholders
Of record September 80, President
Corcoran Thorn announced today.
Net earnings Of the Chesapeake
& Ohio Railway in the first eight
msnths of this year were equivalent
to $2.03 per share on the common
stock against $2.sl per share in the
like 1s4l period.
In the first seven me- - Of 1912
the Atlantic Coast LA.se Railroad
earned $l4.5S per share on the COM
mon stock against $40 last year
In the same months.
Secretary Of Commerce Jesse
Jones states that the War Damage
Corp. has already collected $l06,-
600 600 In premiums and estimates
that approximately $50, ,oo0, 900 900
such insurance is now In force.
Reserve staff Changes Noted.
Ths Federal Reserve Boards Sep
tember bulletin notes recent promo
tions Ia the legal staf, J. P. Drei-
belbis, formerly assistant. general
counsel, now being designated gen
eral attorney.
George B. Vest and B. Magruder
Wingneld formerly assistant general
counsel; are designated assistant
general attorneys, the Bulletin says.
Walter Wyatt, for several years
general counsel Of the Reserve Sys-
tenn, has been devoting considerable
time to special duties, 1t is an
nounced.
Bank Deposits Up Sharply.
Various estimates, while not pre-
else, are generally indicative OF
trends and make 1t evident that in
dividuals are accumulating savings
and that 4 large portion Of these
savings is held in cash-currency o.
bank deposits, says the Bulletin.
Probable continued increases ir
national income, accompanied by
further decline In the volume o1
consumer goods, particularly dur.
able goods, available for purchase
and = decrease In consumer deb
within . few months to q small
volume, will leave an even large,
amount than at present availabl.
for savings in cash and securities
In July and August there was 1
more rapid increase in bank deposit!
and currency than has occurred IL
any previous period.
seSouthern Rail Earnings Rise.
seventeen Glass I railroads in tn
Southern district, had estimated
operating revenues In August o
162,2l4,S22, compared with $4o,28l,
3z2 in August, l941, or an increas
Of -S4.5 per cent.
Freight revenues in August
amounted to $4S.673 ,922, compare'
with $50 $50 ,09S in August. 1e4l, o
an increase Of 433 per cent.
Passenger revenues totaled $40,
o64,5oe, compared with $3,97l ,244 i
August. 1s4l, or an increase OF 1853.
per cent.
CAPITAL Transit In Demand.
Capital Transit stock drew all tn
attention on the Washington Stoc
Exchange today when so share
changed hands at 231t, against la.
weeks close at 73H, the high fe
the year.
The stock Is now selling ex-div
dend, the closing bid today bein
23l4 with a asked. Steady ln
provement in earnings has cause
an increased demand for the stoc
the wears turnover to date beir
around, $500 shares. The low II
the year was II.
Bank Of Commerce g. Savings ar
Carpet Corp. stock have been adde
to the list OF issues now being quote
ex-dividend.