Evening star., 1945-02-11
Peoples Drug Sales
ST Per Cent Above
1914 in January
+ BY EDWARD C. STONE.

Oy reaching %, III, tSU.to against SI,.
657 ,309.70 in the first month of 1914,
an increase of $134, ,48108, or 81 per
cent, w. H. Churchill, treasurer, an
nounced yesterday. The January
gain contrasts with decrease of
4.8o per cent in December.
During January, 1945, and Janu-
any, 1914, the company operated 134
stores. Yesterdays report was the
first to appear since the statement
for the full year 1914 revealing sales
OF. $34,47l ,l96, small decrease OF
SIT ,l40 from the preceding year.
Another report of wide concern
out yesterday, came from the Fed
eral Reserve Bank of Richmond
stating that department store sales
I'M Washington for the week ended
Saturday, February 3, were Z per
cent ahead of the like period a year
ago and unchanged from the pre-
ceiing week this year. The fifth
district gain was 10 per cent.
Store sales in the Capital for the
four weeks ended February were
9 per cent ahead of last year.
Folger Views Postwar Jobs.
y. Clifford Folger of Washington
president of the Investment Bank
ers' Association of America, told the
Advertising Club of Baltimore last
night that 10000 900 peacetime jobs
mi by be possible "if' private invest
ment is allowed to return to its
historic role" It's big "if", he
said. as he outlined new mental at
titudes needed toward finance.
People must get their money to
work and take risks, being aware
there may be gains in Normandy
and losses in Belgium; investment
bankers must not repeat the mis-
takes of the twenties, the Nations
$4,000 banks should be more free
with constructive advice to patrons
on how to put money to work and
hobbling and shackling of business
should end.
Mr.. Folger urged support of the
Securities and Exchange Commits
siqn, Social Security Board and SIM
liar bureaus but said they should
change the approach to their func-
tidns.
The Government must realize that
in taxing business to redistribute
income, venture capital can be driv-
en- into foxholes until there will be
no income to distribute, he asserted
Werber Sets Insurance Mark.
Bill Werber, former major league
baseball star, again qualified in 1914
for the Million Dollar Round Table
of the National Association of Life
Underwriters, Earle w. Sapp, of the
New England Mutual. announced
yesterday. His production credits
totaled more than s2,000000, the
result of the successful handling of
cases involving personal estate plan
ming, partnership and corporation
insurance and pension plans for
commercial and financial institu-
tions, Mr.. Sapp said.
With this new record in the books,
Mr.. Werber will address the New
York City Life Underwriters Asso-
citation next Thursday on Looking
Forward"
Pepco Sales Up Sharply.
Potomac Electric Power sales of
electricity started 1945 with a sharp
rise of 1901 per cent in January,
officials reported yesterday. Sales
totaled 124.330,628 kilowatt hours,
compared with 113019,127 in Janu-
ary, 1914, gain of 1911 SOL. Rail-
road and railway sales were up All
per cent, highway lighting down
056 and other sales up 1106 per
cent.
All banks and building and loan
associations in the District will be
open tomorrow, Lincoln's birthday
anniversary. The Washington Stock
Exchange and New York Stock Ex-
change Offices will be closed.
"Of Board" Market Reviewed.
Merrill Lynch, Pierce, Fenner &
Beane has issued a 49-page illus
trated booklet on The Of-Board
Securities Market" which shows
how thousands of unlisted issues are
bought and sold off the exchanges.
Between 10000 and $4,000 of these
securities are now quoted by the
National Quotation Bureau, 1000 or
5000 being mentioned or quoted
every day.
The National Association of Sc
curities Dealers is given credit for
a great deal of constructive work in
the quoting and fair practice"
handling of issues sold over the
counter. Many present blue chips"
we're once the speculative securities
of obscure companies
Forum Speakers Announced.
The last of 10 forums on manage
ment aid for small business, spon-
sored by Washington Chapter, So
ciety for Advancement of Manage
ment, and the Board of Trades
Postwar Planning Committee, will
take place Wednesday evening at
the Chamber of Commerce, at 8
O'Clock. William j. Cheyney, execu-
tive director for the Retail Credit
Institute of America, will speak on
The Future of Installment Selling
Richard H. Stout, president of
the Morris Plan Bankers Associa-
tion, will consider Credit Exten-
sion From the Bankers Standpoint"
and John Althaus, executive direc-
tor, Associated Retail Credit Men
of Washington, will discuss I'm
poftant Factors in Extending
Credit" Cyril B. Upham, deputy
controller of the currency, will pre-
side.
Finance Expert to Speak.
Washington Chapter, Society of
Residential Appraisers, meeting to-
morrow evening at the New Ebbitt
Hotel, will hear an address by Dr..
Leo Grebler, economist and author.
Chief Of the credit and housing Sec
ton Of the National Housing Admin
istration, he is an authority on
postwar finance.
Paul B. Cromelin, past president
of the District of Columbia Bar As
sociation, will address the fiduciar-
les section of the District Bankers
Association, at the Mayfower, Fri
day evening, on "reminiscences of
Probate Practice"
w. Preston Hunt, president,
Washington Chapter, American
Savings and Loan Institute, an
nounces that the second semester
will open Monday, February 10.
Among the instructors will be w.
Franklin Morrison, First Federal
Savings & Loan Association, and
Wilbur N. Baughman, Washington
attorney.
Accountants to Aid Veterans