Evening star., 1944-08-13
Net Of Peoples
Drug Remains
Near Year. Ago
o6 Cents a Shore
In Half Compares.
With 81 1913
BY EDWARD C. STONE.

BY EDWARD c. STONE.
Despite small decline in sales
mainly due to the help shortage
Peoples Drug Stores, Inc. earned 81
cents per share on the common stock
IN the first half year compared with
" cents in the like 1943 period, w
n. Churchill, treasurer, announced
Yesterday. Net sales totaled $16,542,.
723 compared with SIG, ,732 ,283 last
year. The good showing was made
through savings in operating costs
The company reported an operat-
Ing profit of $1,242,520 against ST.
216,408 year ago and a total in
come of $1,36582 compared with
81 ,347 ,937. Net profits, before Fed
eral income and excess profits taxes
were $l,305, ,494 against $1,288. 800.
After all deductions, net income
amounted to $469,977 as compared
with s476,693 a year ago. Current
assets were announced as $8.869. 1897
vs., S7,753,656 on June 80, 1943, with
total assets and liabilities standing
at sl2,275,853 VS.. $11,298,591 Il
months ago.
Peoples Drug directors have lust
declared quarterly dividend of IS
cents per share on the common
stock, payable October 2 to stock
holders of record September s. So
far In 1914 the company has voted
81 In dividends, exactly the same as
last year.
O'Neal ABA Bond Chairman.
Nelson B. ONeal, vice president of
the Riggs National Bank. was an
nounced yesterday by A. L. M. Wig
gins, president of the ABA, as chair
man of the associations special
committee to confer with Treasury
officials on the cashing of War Bonds
by the banks.
Mr.. ONeal has had many confer
ences with Treasury and Federal
Reserve Bank officials, announce
ment being made by Undersecretary
Bell that the new service will be
lnaugurated on October l. At pres
ent all the banks can do is to GER
tlfy the bonds for redemption by
the richmond Reserve Bank.
The Treasury will pay the banks
for the service so that bondholders
Will receive the exact amount print
ed on the back of each bond.
Scott 10 visit Capital.
John F. Scott, president of the
United States Savings and Loan
League will visit Washington this
week and be the honor guest at a
luncheon given by members of the
District Building and Loan League
at the MayfloWer Hotel, Wednesday
noon, at 1890. 1t is the first time the
league has had an opportunity to
honor the very able national presi-
dent. He will be accompanied by
Morton BodfiSh, executive vice pres
ident, F. Wilson Camp announced.
ID. c. Store Sales Level OFF.
Department store sales in Wash
lngton for the week ending Satur-
day, August 5, were unchanged from
the same week year ago, the Rich
mond Reserve Bank reported yes
terday, the same situation prevail
ing IN the rest of the fifth district
Capital sales were per cent ahead
of the preceding week this year.
Cumulative sales for the four
weeks ending on August 5 were 3
per cent ahead in the Capital and 5
in the fifth district of the like period
year ago, the survey stated
Fleming ManpOwer Chairman.
Robert V. Fleming, president,
Riggs National Bank has been re-
appointed chairman of the District
Bankers Associations War Man.
power Committee by President Sid
nev F. Taliaferro, with A. Scott
Offutt, vice president, City Bank, as
vice chairman. The original commit
oh
needed classification for the Capi-
tails banks.
Other members include Francis G
Addison. lr, Security Savings; Bruce
Baird. National Savings: Clarence F.
Burton. City Bank; Wilmer J. Wal
ler, Hamilton National, and John A
Reilly, Second National.
Chain Store Survey Compiled.
Merrill Lynch, Pierce, Fenner &
Beane are distributing their annual
booklet on chain stores. The 81
page survey covers all leading chains
such as Montgomery Ward, Sears,
ROebuck; SafeWay, Great Atlantic
d Pacific, Peoples Drug, American
Bond, S. S. Kresge, w. T. Grant and
many others. The survey is eXcep-
tlonally complete, containing facts
OF great interest and value to in
VeStOrS.
QueStiOnnaireS Curbed.
F.. Stuart Fitzpatrick. manager of
the construction and civic develop
ment department of the United
States Chamber of Commerce, has
been elected chairman of the Ad-
visory Committee on Government
Questionnalres. He succeeds w. j.
Donald. This committee has been in
strumental in bringing about elm
lnatlon of hundreds of question
nalres simpliflcation Of nearly 1000,
and has furnished the Budget
Bureau with advice which prevented
the appearance of many others, the
announcement said.
Real Estate Prices SURVEYED.
Summing up survey, the United
States Savings and Loan League has
notified the District Building and
Loan League that the 1939-40 level
In real estate prices is likely to be
the floor beneath such prices for a
considerable period after the war.
Some building and loan executives
In IA industrial centers. including
Newport News and Norfolk, predict
ed that real estate prices will remain
firm in the postwar period, but a
majority suggested gradual taper
ing off from 10 to Is per cent. Ship
building centers will have the hard
est time holding their populations
and prices, the forecast said.
Capital Securities