Evening star., 1948-03-28

nay, chairman Of the board, Clar.
ence F. Norment, jr., vice chairman
James j. Hughes, president, Free
Ophuls, vice president, Jerry P
Johnson, vice president and gen.
eral manager, Walter E. Bernd, sup.
ervising engineer, Morris w. Ben.
nett, treasurer. Robert D. Marshall
controller, Philip r. Vernier, secre.
tary, J. Ira Smith, sales manager.
Easter Trade Exceeds 1947.
For the week ended March 20, de.
partment store sales in Washington
were 6 per cent ahead of the cor.
responding week year ago. the
Federal Reserve Bank of Richmond
reported. This was a better show.
ing than In the previous week wher
sales were down per cent.
Sales In whole fifth district were
up 7 per cent, rose 6 per cent ir
Baltimore and were up 20 per cent
in a group Of other cities. Sales ir
the Capital were 16 per cent above
the preceding week and up II pei
cent in the fifth district. Cumu.
lative sales for the four weeks
ending March 20, were 8 per cent
ahead OF last year, the report
stated.
Capital merchants said yesterday
that Easter trade had been very
heavy during the past week, slight
ly ahead of last year. No com.
plants. they said, adding that per-
centage gains have not been worked
out.
Theaters Net Unchanged.
District Theaters Corp. earned
$1.67 per share in SO weeks ended
January 3. against $1.68 per share
in the previous year. In his annual
report, President Harry Freedman
reported operating revenues Of
s3,953, ,253 compared with $3,705, ,621
in the previous year. Net income
was $542 ,424, against $545,327. The
8o-cent dividend was continued.
During 1947 there was a net re-
duction of $437,148 in notes and
mortgages. With the main Office in
Washington, the company now
operates 80 theaters, nine in this
city. The stock is widely held here.
Aetna Officials to Confer.
Approximately 1875 representatives
OF the Aetna Casualty & Surety Co.
will hold a conference at the May
flower Hotel next Thursday. Com
pany officials and specialists will
come from the Hartford home Office
including c. G. Hallowell, vice presi-
dent, r. c. Larson, L. B. Fowler, E
F. Gebelein, and w. F. Potter, all
high officials. Guy E. Mann, man.
ager Of the Washington Office, will
preside.
The District Institute Of Certified
Public Accountants will hold its
first spring meeting at the May
flower, at $50 pm, Wednesday
There will be a panel discussion re-
garding Identification of Auditors
Reports Where Opinion Is Omitted
New Look" For 400 Offices.
The United States Savings and
Loan League reports that 400 men,
ber associations are now building
new Offices or undermining present
quarters. Many new buildings have
been completed since the war The
new Offices stress beauty, efficiency
customer convenience and the latest
trends IN bank design.
The Chicago Board Of Trade had
assets of $18,128, 900 on December 81
and showed a net profit before
taxes of $16s 900 in 1947, accord
ing to a report distributed by
Merrill Lynch, Pierce, Fenner &
Beane, first of the kind ever given
out by the exchange.
Pepco February Net Off.
Net income of the Potomac Elec-
trio Power Co., in February amount
ed to s263. .666 a decrease of $67,041
or 20 per cent, from year ago. the
report to the Public Utilities Com
mission revealed. Operating rev.
were up $376,211 or II per
cent but expenses increased $780,
189 or 81 per cent.
In the first two months of 1948,
net income totaled $643,1 against
$647,553 a year ago, a decrease of
$4,415.