Evening star., 1948-12-08
Peoples Drug Stores
November Sales Show
2,S96 Gain Over 1947
by Edward G. Stone

Net sales of Peoples Drug Stores,
Inc, for November totaled $3,903,-
1876 in comparison with $3,789,671 in
November year ago, an increase
of $l04.524. or 2.8 per cent, w. H.
Churchill, treasurer. announced to-
day.
Sales in the first II months of
1s4s reached SAL 1,713,949 against a
total of s40,935,032 in the 1947 pc
riod, an increase of $778,917 or 1.9
per cent, the report revealed.
During November, 1948, the COM
pany operated 14o stores compared
with 1856 in November. 1947.
Expansion Peak Passed.
The postwar expansion Of Amer
ican industry has passed the peak
but total business expenditures in
1S49 should be down only about 10
per cent over the high rate of the
present year. delegates at the In
vestment Bankers Convention at
Hollywood, Fla, were told today.
The investment dealers were ad-
yised that industry will lean on
cravings and need less outside
money, according to the Associated
Press. High level spending by min
ing, railroad and public utility en-
terprises probably will continue so
that total business expenditures
may be down only 10 per cent.
The unexpected result of the
presidential and congressional elec-
tions has again caused great deal
OF uncertainty about the investment
outlook and has revived demand for
fixed income securities, report said.
The airlines have turned the corner
economically"
Stocks to Pay Dividends.
Several stocks listed on the Wash
ington Exchange will pay dividends
in the next few days which already
have been declared. They include
Capital Transit, three Potomac Elec-
trio Power issues. Virginia Electric
& Power common, Mergenthaler
Linotype, National Mortgage & In
vestment preferred and Peoples Drug
Stores common.
Many issues have paid their year
end dividends and there are a few
more yet to be declared. Some pay
ments have included extras and the
usual Christmas bonuses.
Two Washingtonians were espe-
cially pleased with the annual report
Of the Mergenthaler Linotype Co.,
william J. Flather, jr., who is chair
man of the board, and George
Hewitt Myers, a director.
Munsey Trust Votes Extra.
Directors of the Munsey Trust Co.
today voted an extra dividend of 81
a share, making total of Sc in div
idends paid this year, c. H. Pope,
president, announced. The extra
will be paid on December 20 to
stockholders OF record December TO-
The directors also voted the usual
Christmas bonus for employees.
The Interstate Commerce Com
mission today authorized the sale of
s40,0Oo,0o0 of Chesapeake & Ohio
Railway refunding and improve
ment mortgage bonds. Maturing
December l, 1878, the issue will bear
37s per cent interest.
The Southeastern Group of the
United States Savings and Loan
League, including the District build
ing and loan associations, will meet
at the Chamberlin Hotel. Old Point
Comfort, April 21-23, Wilfred H.
Blanz, this years president, an
nounced today. He expects $40
delegates.
RID. Stevens, Baltimore, formerly
with the Department of Labor, has
been named regional sales manager
for Matthew Bender & Co., law book
publishers.
Fred S. Gichner Iron Works, Inc,
Of Washington, is building new type
motor truck bodies designed espe-
cially for transportation of plate
glass.