Evening star., 1945-02-18
Pe0pIeS Drug b00Sl
Quarterly Dividend
Rate 10 40 Gents
By EDWARD @. STONE.

rate from SIPS year to $160, of
f1cials announced yesterday. Tn,
company paid 25-cent dividend a
this time year ago.
The increased dividend is payable
April 2 to stockholders of recorc
March 8. The stock sold on thu
Washington Stock Exchange recent.
ly at 80, up four points from the las
1914 sale. The week closed with 3:
bid and none offered at any price.
The stock is widely held in the
Capital. The January report showed
gain in net sales of S134 ,481 or S.
per cent over January, 1914.
Capital Store Sales Soar.
Department store sales in Wash.
ington for the week ending Satur.
day, February 10, led fifth district
cities with gain of % per cent ovel
the like period year ago. Sale:
were also IA per cent ahead of the
preceding week this year, the Re.
serve Bank of Richmond reported
yesterday.
The gain in the whole district ove1
last year was 25 per cent and ovel
the previous week II per cent. The
sharp trade advances were due tt
fine shopping weather and heavy
buying power.
Cumulative sales in the Capita,
for the four weeks ending February
10 were 16 per cent ahead of last
year. same as in the fifth district g
particularly favorable approach tc
Easter
Bank Stock Up 20 Points.
American Security & Trust Co
stock showed gain of 20 points in
the first two sales on the Washing
ton Stock Exchange this year. The
stock came out at 260 against the
last 1914 at 240.
Riggs National, Union Trust
Washington Loan & Trust and the
National Bank of Washington have
also scored sharp advances on the
exchange this year. Other local bank
stocks on and off the exchange are
very strong because of present earn
ings and the long-term assured in
come from the huge amounts of
Government bonds now held.
More than a half dozen other
stocks have entered new ground in
recent sessions. Mergenthaler
reached 70 just before the regular
quarterly 81 dividend was declared.
Building, Loan Assets Gain.
Insured building and loan associ-
ations in Maryland increased their
resources S18,000,000 during 1914.
rising to S91 681 $40, an alltime high,
John P. Calvin, president of the
Maryland Council, announced yes
terday. Accounts maintained by
72, 400 persons, show balances total
ing $77118,391.
The combined balance sheet of the
43 insured associations revealed hold
ings of United States War Bonds
and other Government securities of
$2l ,013,020 while total of S63 ,803.-
907 was invited in first mortgage
loans.
Scheirer Elected Cashier.
George L. c. Scheirer has been
elected cashier of the National Cap
ital Bank to fill the vacancy left by
the recent resignation of S. Wilson
Earnshaw, George A. Didden, jr.,
president and chairman of the
board, announced yesterday.
Mr.. Scheirer was formerly assist
ant vice president of the Bank of
Commerce & Savings and was pre-
viously employed with the National
City Bank, New York, and the Con-
tinental Illinois National Bank &
Trust Co., Chicago.
Hole Sells 192,221 Houses.
In the largest program of real
estate liquidation in the country's
history, the Home Owners Loan
Corp. has reported to Congress the
sale of 1872, 2,221 houses of a total of
1877 $50 it was obliged to acquire. AS
Of June 30 last, end of the flcal year,
5.459 properties remained to be sold,
this number now being less than g.
600.
The HOLC reported that its total
So, ,488, 100000 investment in loans
and properties had been cut to ST.
256,000000 as of June 30, 1914, a
liquidation of 64 per cent. BY last
June, yesterdays report said, the
1,017,821 loans had been reduced to
641, ,446.
Congress Bills on Program.
John B. Payne, controller of the
United States Commercial Co. and
former treasurer of the Commodity
Credit Corp, will address Washing
ton Chapter, National Association of
Cost Accountants, at the Washing
ton Hotel, Wednesday evening. He
will discuss provisions of the George
bill and the Byrd-Butler bill as af-
fectlng audit requirements of Gov
eminent corpdfations.
John ]. c. Macdonough. chapter
president will introduce Robert w.
King of the OPA as technical chair
man.
Banks Shift Late Hours.
All Washington banks will OBJ
serve their late afternoon hours this
week on Friday, on account of the
Thursday Washington's, birthday
holiday.
The District of Columbia Building
and Loan Leagues Executive Coun-
Gil will hold its February meeting at
1890 pm. Tuesday at the Mayf1ower
Latest ver-the-counter quota
tons on Capital Transit As were 10314
bid and 104A asked.
There were 1873 new highs among
New York Stock Exchange issues on
Friday.
Uniform Loan Laws Favored.
The legal department of the
American Bankers Association has
made available to State associations
draft of proposed State legislation
which, if enacted, would bring about
uniform laws governing CT loans.
Although the Servicemens Re-
adjustment Act permits loans on
real estate up to 100 per cent of its
appraised value for 2O-year dura-
ton, the laws of most States restrict
banks and building and loan asso-
Citations to a lower amount and
shorter duration.
The amount varies from so to 80
per cent of appraised value. The
Federal act does not alter these
State laws. D. J. Needham and his
assistants put much time into draw
ing the new recommendations.
Nav Ynrk Cotton