Evening star., 1949-02-06
Peoples Drug Sales
81 Per Cent Above
Year Ago in January
By Edword c. Stone

Peoples Drug Stores, Inc, reported
the first month of 1949 brought
gain of 81 per cent in sales owe
January. 1913. w. H. Churchill
treasurer, said January sale
amounted to s3,733,670 agains
S3,518,620 a year ago, an increas
OF s215,05O.
This was the first report for tn
company since the yearly statemen
for 194S showing total sales of SAT,
009 $50, an increase over 1947 o
$500, 1896, or % per cent.
During January, 1949, the com
pany operated 14O stores compared
with 1876 in January. 1s48.
Assets Gain $1,000, 900.
Assets of the Eastern Building
Loan Association gained 100000
in 1948, reaching a new peak of $12,
25l ,633, r. Edward Early, secretary
reported at the annual meeting
Savings customers added 100000 t,
their balances and now have $9,777,
900 to their credit. First mortgag
loans made corresponding gain.
William N. Payne, jr., was namet
president, Charles A. Garry vic
president and Mr. Early treasurer
Directors include Walter M. BaStian
T. Earle Bourne, Mr.. Early, Osbourr
Owinss. Mr.. Payne. J. Chester Pyles
ST., end J. Chester Pyles. jr.
Exchange Trading Jumps.
Trading on the Washington Stol
EX' hange in the first month of the
year totaled 2O,246 shares as com.
pared with 1888 shares in January
year ago.
Tie sharp volume increase wa,
mainly due to the listing in 1948 oi
Potomac Electric Power common
and Virginia Electric e. Power COM
mon, and to the greatly increased
activity in American Telephone
stock.
Bond trading amounted to SIG SOC
compared with a turnover of $31 SOC
In January year ago.
Gas Net s1.69 Per Share.
Details from the Washington Gas
Light report filed with the Public
Utilities Commission show net earn
ings on the common stock in 194s
equal Sl.69 per share against Sl.8d
year ago, decrease of 19 cents.
The company and subsidiaries had
o net income for 1948 of 81 ATE. $40
an increase of 1921 900 over 1947
mainly due to the distribution of
natural gas throughout the year.
Net income for December of $513,-
1913 disclosed a gain of $4O,344 over
December year ago. Warm wealth
er hurt operating revenues. Gas
sales for the year were up IA per
cent Meters increased 1890 in 1948,
to total 173,O21.
Capital Store Sales OF.
Sales in Washington department
stores for the week ended January
29 were per cent under the like
period year ago, first decrease of
the month. The slight drop COM
pared with slump of 6 per cent in
the Fifth District and IA per cent in
Baltimore. The national drop was 7
per cent.
Sales in the Capital were per
cert under the previous week this
year but were up II per cent in the
four weeks ending on January 20.
Warm weather and fewer specia
sales were important factors In the
weeks trade results.
= District Delegates Listed.
Delegates from Washington Chap
ter, American Savings and Loan
Institute, who will attend the mid
winter conference in Boston this
week, include:
william Rippard, Robert McCon-
key, Anne Fague, Perpetual William
Fry, Raymond williams, Northeast;
Calvin Wood, First Federal: Joseph
Zegowitz, John Stadtler, National
Permanent: William Poulton, Albert
Denham, Columbia Federal; Her.
man Schertner, Worth Arnold, East
ern; Richard Sinclair. American;
Marie Vollmer. Washington Perma