Evening star., 1950-03-05
Peoples Drug Sales
81 Pct. Behind 1949
During February
By Edword c. Stone

L
Inc. in February, totaled $685.
800 as compared with s3.657,848
in February year ago, decrease
of $118,528 or 80 per cent, w. H.
Churchill, treasurer of the big
chain reported last night.
Sales of the first two months
of this year amounted to $7,084,-
007 compared with S7,380,8el in
the like 1949 period, a drop of
S296,884, or 4 per cent. the report d,
said.
During February the company
operated 141 stores, same number
as year ago. The stock is now
selling at $36 a share on the
Washington Exchange.
New Bank Charter Sought.
A group of Arlington citizens
are taking steps to organize a
national bank to be located in
Clarendon, application for
charter having been filed with the
Controller of the Currency.
Subscriptions are being taken
for 10000 shares Of stock at $50
a share, par value $50. Half the
stock has been pledged, according
to C. Lee Cronk. Other hackers
are Fred Walker, Lawrence Ken
yon, Clarence M. Yeatman and
Alfred w. TrueaX.
According to present plans, the
bank would have S300,O00 capital,
100000 surplus and 100000 un-
divided profits. Arlington County
has four State banks but no ma
tional bank, the organizers point
out. They add that very large
amount of Arlington banking is
now being transacted in Wash
ington.
Capital Stores Sales Lag.
Washington department store
sales for the week ended February
IS were per cent under the cor
responding period a year ago, but
2 per cent ahead of the previous
week this year. the Richmond Re-
serve Bank reported. In the pre-
vious week sales were up 7 per
cent
Sales in the Fifth District were
down 9 per cent from last year,
but per cent above the preceding
week this year. The national de-
crease was per cent. Sales in
the Fifth District from January /
through February Is Jagged 5 per
cent under last year, the review
disclosed.
Three Records Esta blished.
John H. Kroll, president of the
Mutual Insurance Agency, Inc,
has a report that during 1949
Lumbermen's Mutual Casualty Co,
saw assets pass the hundred-mil-
lion mark. Dividends paid policy
holders since 1912 also crossed the
same mark, while dividends paid
policyholders in 1949 totaled $10,-
453,876 New business was up
$11. LAG, ,208, or Is per cent.
The adjourned annual meeting
of the Washington Gas Light Co.
will be held on Monday, March 81.
Slated for reelection as directors
are Albert w. Atwood, Everett j.
Boothby, E. K. Morris. Robert C.
Overs, c. H. Pope, Sidney F.
Taliaferro and Corcoran Thorn.
Cecil Richards has been named
senior sales representative OF
WQQW and WQQW-FM, music
stations in Washington. He has
been commercial manager OF
WBCC in Bethesda.
Store Stocks Popular.
During February 46O shares OF
Hecht common stock changed
hands on the Washington Ex-
change, closing at $28.50 a share.
Garf1nckel common led the store
stocks in sales, with a turnover OF
730 shares. The stock closed at
SIG share. Garflnckel Az per
cent preferred recorded sales OF
ITO shares. Sales in Woodward 81
Lothrop common totaled 274
shares, final transfers at $34.87 a
share.
AS noted in yesterdays Star,
January sales in Washington de-
partment stores ran 2 per cent
below the first month in 1949. In
the II months ended January 81,
sales were per cent ahead of the
preceding fiscal year.
Sales of 96 department stores in
the Fifth District were off 8 per
cent in January from January,
1949. Lynchburg, Va, reported
the largest decline, IA per cent.
-Four cities reported small gains.
Insurance in Sharp Gains.
New life insurance amounting to
1896, ,274,000 was sold by Massa-
chusetts Mutual Life last year, or
S29, 100000 more than in 1948, ac-
cordlng to the report received by
John F. Cremen, general agent.
insurance in force gained s162,-
608,000. Assets increased by s78,-
518,688.
T. j. Shryock. Washington su-
pervisor of sales for Remington
Rand, and Branch Manager D. H.
Barron have gone to Mexico City
as a reward for winning a contest
for expanding business volume
duringsthe year.
J. Wesley Clampitt, jr., presi-
dent OF the Washington Life In
Trust Council, announces
an open dinner meeting to be held
at the Mayflower next Wednesday
night. He reports an unusual
response to the invitations.
The National Automobile Deal
ers' Association has added a new
Dealers Business MANAGEMENT
committee" to the Washington
office service.
Sales of Potomac Electric Power
common stock totaled $40 shares
On the Washington Exchange Fri
day.
Dividends Announced
NEW YORK, Mar. up.-Divid.pd,
Pc Stk of Pay
Kate riod. Record. able.