Evening star., 1945-06-10
Peoples Drug Sales
Behind 1914 in Nav;
5-Month Total Up
BY EDWARD c. STONE.

a year ago, in the first five months O
1945 they were ahead of 1914, w. H
Churchill, treasurer, announced yes
terday.
Net sales in May totaled $2,790,
75460 against $2,816,2l2.5l last year
a small decrease of $25,45791 or O..
per cent and very much smaller thai
the drop in April of this year follow
Ing extra early Easter trade.
Sales in the five months reache,
S13,818, 716.77, compared with $13,
778,980.30, an increase of $39, ,736. A
or 0.3 per cent, the report said, add
ing that during May the compan,
operated l30 stores compared will
13l in May, 1914.
Capital Store Sales Steady.
Department store sales in tn,
Capital in the week ended Saturday
June 2, were unchanged from tn,
corresponding week last year, tn,
Richmond Reserve Bank reported
Sales were up per cent in the fifth
district.
Sales in Washington were 8 PEI
cent behind the previous week thi:
year and off 8 per cent in the fifth
district. Sales in Baltimore were
down the same amount as in Wash.
ington.
Cumulative sales in the four weeks
ended June were l per cent aheac
of last year in Washington, in the
fifth district, l in Baltimore and {
in group of other cities, the report
said.
Mortgages in Sharp Rise.
Nonfarm mortgages recorded fr
the Nation in April totaled $455 ,790.-
900, per cent above March and %
over the same month year ago, as
well as the highest total for any
month since the Federal Home
Loan Bank Administration has kept
the records.
From January through April,
mortgage financing was II per cent
ahead of last year, with individual
lenders scoring the best gain, 30 per
cent. The average mortgage record
ed during the four months was S.
$50. about 6 per cent ahead of the
same 1914 period.
In April alone, savings and loan
associations made 1858 loans for
s157,181 900 and banks and trust
companies, 24,275 for $88, 749,0 900.
Insurance Men Take Office.
H. Cochran Fisher took Office as
president of the District Life Under
writers Association, at the June
luncheon Friday at the Willard, sue
ceeding Vernon w. Holleman. Will
liam j. McCausland is the new first
vice president; w. Neal McCord, sec
ond vice president, and Leon Katz,
treasurer.
Mr.. Holleman was presented two
handsome travelling bags in recogni-
tion of his work during the past
year, his wife also being generously
remembered. His annual report
showed year of great progress.
Members of his staff were awarded
certificates of merit. 1t was an
nounced that Dutch" Robson is
now the associations War Bond
chairman as Hiram Hart has gone
to Pittsfleld, Mass.
w. j. Waller, chairman of the
District War Finance Committee,
stressed the distance yet to 60 in the
Seventh War Bond drive, and Irwin
Bendiner Of Philadelphia gave a
very witty address on insurance
salesmanship. What to say is more
important than who the prospects
are, in his opinion He stated that
general agents are the best pros
poets in the world because nobody
ever goes after them.
League Council Meets Tuesday.
The Executive Council of the Dis
trict Building and Loan League will
meet Tuesday noon at the Mayf1ow-
ersHotel for the June session, Secre-
tary F. Wilson Camp announced
yesterday. The date has been moved
up from June 10 in order to avoid
conflict with the annual meeting
OF the Better Business Bureau.
The Middletown Savings Bank in
Maryland was one of "a which
joined the American Bankers Asso-
citation during May Maryland is
now within one or two banks of 100
per cent membership.
Raymond G. Marx, controller of
the Riggs National Bank, will attend
and take part in meeting of Phil
adelphia Chapter. National Associ-
alton of Bank Auditors and Control
lers. this week
Bond Approvals Up Sharply.
State and municipal bond ap-
prevails by voters in 43 communities
in 18 States in May totaled SAG, ,399,-
$50. compared with only s19,036 300
in May, 1914, the Daily Bond Buyer
reports. The April total was $685.
$50 900.
w. r. Sykes, manager of the Phil
adelphia Office of Owens-Corning
Fiberglas Corp, has been transferred
to the Washington Office, replacing
A. E. Kincaid, jr., who has gone to
the general Offices in Toledo to head
the shipbuilding division.
The Marine Corps Leagues orig
inal painting of the Two Jima flag
raising, just presented to Marine
headquarters here, was brought from
New York by the Railway Express
Agency, by air, after exhibition in a
department store. 1t was insured
for S. 900 for the trip.
Banks Increase Advertising.
That more than third of the ad-
vertising expenditures of the Ma
tons banks last year were made in
newspapers is indicated by sur
vey just completed by the Financial
Advertisers Association.
OF every advertising dollar spent
by banks, 354 cents went for news
paper space, 1876 cents for radio and
112 cents for other periodicals. Di-
rect mail got cents. outdoor adver-
Using cents and other printed ma
terial 84 cents. Car and bus cards
accounted for 3.3 cents, window and
lobby displays 23 cents, cooperative
advertising, IA cents: motion pic
lures, 0.4 cents, and all other media
10 cents
Banks will spend 144 per cent
more. in advertising this year than
in 1874, the study indicates.
Farm Loan Bonds Called.
The II Federal Land Banks are
about to call for redemption all out
standing Consolidated Federal Farm
Loan per cent bonds of July l..
1945-1955, the land bank commits
sioner announced.
Morton Bodfish, executive vice
president of the United States Saw
ings and Loan League, lauds action
of the War Production Board in al
lowing owners to spend up to 81 900
on home modernization, the limit
until recently being only 5000, with