Evening star., 1950-05-28

as marked by many accomplish
mentS which are materially con-
tributing to the economic advance
of America in this dynamic age"
Retail Trade Declines.
Sales in Washington depart
ment stores in the week ending
May % showed a decline of 5 per
cent from the corresponding week
a year ago. the Richmond Re-
serve Bank reported Sales were
II per cent under the previous
week this year.
In the fifth district store sales
were down s per cent from last
year and 16 per cent under the
previous week. Sales in the four
weeks ending May 20 were per
cent below the like l949 period.
Foreign Profits. $121.2S2.
Earnings Of Lanston Monotype's
two foreign companies, not In
cluded in the net for the year
ending February %, amounted to
$12l ,282, these funds being SUBJ
ject to exchange restrictions. But
dividends out of profits of these
subsidiaries for prior years Of
$55.093 were received and in
cluded in the years profits, the
annual report says.
Surplus was left unchanged at
$240,991: inventories decreased
$46,000 from the preceding year:
more than $50 new stockholders
were registered: while sales and
advertising programs were greatly
expanded, The company's stock
is now selling on the washington
Stock Exchange at $40 q share.
New PEPCo Stock Sold.
Investment dealers reported yes
terday that nearly all Of the 3d.
85S shares of Potomac Electric
Power common stock not taken by
present holders. have been bought
by the public. The stock was Of
fered Friday after the rights had
expired. over 95 per cent Of the
warrants being exercised. The
remaining stock Is being sold at
1873. up from the original price
of 1412. Proceeds of the offering
totaled $10,305.150, minus $248.-
745 for underwriting fees and
other expenses.
The Washington Gas Light Co.
Is about to sell 10000 shares OF
$4.25 cumulative preferred stock.
the sale having granted approval
by the PUG. The new issue will
be underwritten by Washington
investment dealers, the proceeds
to raise $3,000,000 new capital to
finance main extensions and other
facilities in the Metropolitan Area.
The subscription price Of the stock
Is yet to be announced.
New Committees Named.
Doren D. Vest. president Of
Washington Chapter, National AS
sociation of Cost Accountants, has
named these directors: Publicity,
H. j. Althouse; publications, B. w.
Cochran; education. s. Curran;
special activities. P. Imler; mem.
bership. V. M. Johnston: meetings,
w. A. Melhorn; employment, s. C,
Spears; program and news letter,
B. c. White; attendance, r. C.
Williams.
Lewis Edwin Ryan Advertising
Co. announces that Marshall Hurt
has Joined the agency staff. He
was formerly with Walter Wier.
Inc, and McCann- Erickson. in
New York.
Samuel c. Redman became
president Of Washington Chapter.
American Institute of Banking. at
an outdoor meeting Of Colling-
wood-on-the-Potomac yesterday.
General Outdoor Advertising Co.
announces the first display in this
area of painted bulletin using
the new black-light technique. 1t
is located at BladenSburg road and
the Peace Cross.
Transit Stock at New Peak.
Capital Transit stock is selling
at a new 1850 peak OF 32l2, up
about 10 points this year.
Alvin j. Steinberg of the Capt.
tai Credit Corp. addressed the
West Virginia Bonded Adjusters'
on Credit"
Milton T. Macdonald. vice pres
dent OF the Trust Company of
New Jersey, Jersey City, is slated
TO be the next president of the
Mortgage Bankers Association.