Evening star. [volume] (Washington, D.C.) 1854-1972, 1945-03-11
S2.32 a Share Earned
By Peoples Drug
Stores in 1914
By EDWARD C. STONE.


BY EDWARD C. STONE.
Net earnings on the 49O,94 shares
OF Peoples Drug Stores common
stock in 1914 was equivalent to So 80
per share, just the same as in 1943
President T. N. Beavers announced
in his annual report, out yesterday.
Sales in 1914 totaled S34, 706, GOT 90
against $34, 1853, 181 33 in 1913, smafl
decrease of $51, 274.24 or OILS per
cent. The main reasons for the lev
cling of in sales were the closing of
six stores, lack of many types of
merchandise and loss to the armed
forces of experienced personnel, Mr..
Beavers stated.
Taxes Up Sharply.
Net profits, after providing for all
expenses and charges, including
$312,16O for depreciation, amounted
to S1,140,080, compared with 81 ,140,-
992 in 1943, a decrease of 1912. Taxes
required 81, ,099, an increase of
1920, 239, or 11.29 per cent. Inventor
les were off 387 per cent at the end,
of the year.
Purchase and placing in the
treasury of 100948 shares of COM
mon stock from the Gibbs estate.
through bank loans and the use of
available cash, had no adverse eff
feet on the market activity of the
stock as the shares had not previous
ly been a factor in trading opera
tons when held by the founder of
the company. The report points to
the increase in the dividend to $1.6O
per share, says 1900 employees are
nos in the service, q having given
their lives.
February Sales Off Slightly.
Net sales of Peoples Drug Stores,
Inc, in February reached $2,606,-
648.52 in the % days against $2,67l,-
2l0.49 in the % days in the month a
year ago, a small decrease of S64,-
56l.97 or pa per cent, Treasurer w.
H. Churchill announced yesterday.
Sales in the first two months of
this year amounted to $5,398, 439 80
compared with 1922 .55573 in the
S75.883.57 or IA per cent, the report
showed. The company operated 131
stores in February, 1914 and 1945
Transit Officers Reelected.
Stockholders of the Capital Transit
Co. reelected all directors at the
annual meeting yesterday. President
E. D. Merrill presented his annual
report recently made public, and
added that if the war should end
suddenly, there would be a further
increase in expenses and a decrease
in income.
Mr.. Merrill pointed to growing
manpower worries and said the COM
pany is making further efforts to OBJ
tain part-time employees among Gov
eminent workers. He considers the
valuation claims presented at the
rate hearings as fully justified.
At the directors meeting, George
E. Hamilton was made consulting
counsel and G. Thomas Dunlop took
his place as general counsel. Mr..
Merrill was elected president, J. E.
Heberle, vice president and control |
Ter; w. B. Bennett, vice president |
and secretary, and H. D. Champion,
treasurer
Capital Store Sales Climb.
Department store sales in the |
Capital continue to climb, with a |
gain of Is per cent in the week end
ed March 3, compared with the like
period year ago, and 3 per cent |
ahead of the previous week this year,
the Richmond Reserve Bank report
ed yesterday.
The report followed advances in |
every week in February when up
swings as high as % per cent were
rnniStnro6 N tho fnlJt. tt-aoJc n
Saturday. March 3, cumulative sales
here were II per cent higher than a |
year ago. Sales in the fifth district
were up Is per cent in the week I'M
der review and Is in the four week
period.
Heavy Bond Sales Reported.
Building and loan associations |
which are members of the Federal
Home Loan Bank System purchased
SAT 900 900 in Government bonds for
their own accounts during January |
and sold S31 100000 in War Bonds !
to the public, James Twohy, gov
ernor of the system, announced yes
terday.
The S78.0000 900 total of war financ-
ing by these institutions in jan
uary-the month following the
Sixth War LOANS almost three
times the s27, O0O, 900 reached in Au-
gust, the month following the Fifth |
War Loan drive, Mr.. TWohy said, eX-
pressing keen satisfaction with the
results
Bank Survey Distributed.
"BankS-l945" is the title of a Ga |
page review of bank stocks put out |
by Merrill Lynch, Pierce, Fenner & |
Beane and being distributed among
Washington investors, $50 leading
institutions being covered
Book value, dividends, loans, in
terest rates, housing, coming world
business, deposits, Government bond
holdings and profits are among the |
subjects reviewed most comprehen-
sively. The firm believes present
high bank deposits are here for a
long period.
Building Cost Talk Planned.
An address on Postwar Construc-
ton Costs" will feature the March
meetisg of Washington Chapter, So
ciety of Residential Appraisers, to-
morrow evening at the New Ebbitt
Hotel. An address by Rhesa M.
Norris. local realtor, will be pre-
coded by dinner at 6 80
Banks and Bankers in the Dis
trict of Columbia" will be the sub
ject of an address by Fred A. Emery
at the 341st meeting of the Columbia /
Historical Society Tuesday evening
at the May1oWer Hotel, with F.
Regis Noel presiding Many bankers
have been invited as guests of the
members.
Store Stocks Holding Up.
Stocks of goods on hand in Wash
ington department stores on JAN
uary 81 were per cent lower than
on the same date year ago and |
were unchanged in the fifth district,
the Richmond Reserve Bank said
yesterday Some cities noted a
per cent increase.
Outstanding orders for merchan-
disc were IS per cent higher in Cap
ital stores than year ago, and 43
per cent in the fifth district Receiv-
ables at the end of the month were
% per cent higher than in January, |
1914. in Washington, and 10 in the
whole district.