Evening star., 1944-05-14

secretary-treaSurer.
The new officers will be installed
at the next luncheon meeting, June
g. at the Willard Hotel. During
the past year the members took a
lively part in the War Bond drives,
expanded the membership, and
wrote great deal of new insur-
ance despite the shortage in agents
due to the war.
Peoples Quarter Gain Small.
Peoples Drug Stores, Inc, earned
47 cents on the 49O,948 shares of
common stock in the first quarter.
against 46 cents in the like 1943
period, w. H. Churchill, treasurer
reported yesterday.
Net sales in the first quarter of
1914 totaled 1920, ,299.62 compared
with S8218,58693 a year ago. The
company had an operating profit
of S6l2270.86 against S599 OBS SO and
a total income of $673,996.63 as
compared with $667, ,71443 last year.
Estimated Federal income taxes
and excess profits taxes were
practically the same as last year. !
leaving net income for the period
of S231,1 against $226,85719.
Current assets on March 81 stood !
at $8,657 ,830.59 against S7,861 $50. sc |
with total assets of $12, ,141 ,508.53 VS..
$11,45o,657.17.
Acacia Insurance Sales Soar.
New business placed by the Acacia
Mutual Life Insurance Co. in the
first four months of 1914 amounted |
to S26,l00,000, a gain of more than
so per cent over the like 1943 period. |
President William Montgomery an
rlounced last night. At the same |
time, net gain in business In force
totaled $18,90O,000 or double the in
crease a year ago.
The company set new 12-month |
record, as of April 80, total insur-
ance reaching $685., ,265, 900 against
S477,370,000 year ago, an increase
of S55 100000. During the first three
months of this year lapses fell to an
all-time low, the rate now stand
ing at 28 per cent.
The company's assets also have
been setting new marks, now stand
ing S123,000000, an increase of So
100000 since January and S1O,8OO.-
600 in the past IL months, Mr.. |
Montgomery added.
Pepco Sales Above 1943.
Ofhclals announced yesterday that
sales of the Potomac Electric Power
Co. in April, in the District of Co
lurnbia, registered a gain of 1881, sos
k1lowatt hours, or 3.78 per cent.
Sales totaled 105,211 ,522 XVIII. against
lol ,379,917 in April a year ago.
General electricity sales made the
best showing, 91,857 ,889 XVIII, being
4,035,0l4 ahead of last year, or 4.59
per cent. Street and highway light
ing required 1909, 1888 XVIII, practi-
cally the same as in April, 1943.
Railroads and railways used H.
344r3OO XVIII, a decrease of 100000
or 1.80 per cent.
Writer on Bankers Program.
Joseph G. Harsch, author of THE
Pattern of Conquest" and staff
correspondent of the Christian
Science Monitor, will address the
f1duciaries section of the District
Bankers Association at the annual
dinner meeting at the MayfoWer
Hotel on Wednesday, May "a,
Chairman Earl G. Jonscher an
nounced yesterday.
Election of the executive council
will take place and Chairman Jons-
cher will present his annual report.
The guest speaker served in Lon
don, Rome and Berlin Just before
the war. Guests will include A.
Scott Offutt, Sidney F. Tahaferro
and Bruce Baird, officers of the
bankers association and Milton
King, president of the District OF
Columbia Bar Association.
Parker Honor Pleases Brokers.
The letter from the Secretary of
the Navy commencing Col. Chauncey
O. Parker, jr., for his outstanding
service in organizing and directing
the fiscal structure of the selective
service system during the last four
years crew nigh praise among his
financial district friends yesterday.
The letter was presented by 1t. Gen.
A. A. Vandegrift, Marine Corps COM
mandant. Col. Parker is a partner
IN the investment firm of Auchin-
Gloss, Parker & Redpath, and keeps
In close touch with finance.
District Of Columbia Chapter,
American Society of Chartered Life
Underwriters, held a dinner meet
ing at the Mayf1oWer Hotel recently,
speakers being H. L. Choate, T.
Loehl OBrien, Joseph A. Mari and
1t, j. r. Towsend, jr., U. S. N. r.
Guests we're underwriters who have
taken examinations for the c. L. U.
degree or are planning to do SO.
Bank Stock Bids at Peaks.
Bids for Bank of Commerce Saw
ings stock on the Washington Ex-
change have climbed to 1910 a
share, while the next highest bid
is 1855 for Riggs National Bank
common, both new peaks.