Evening star., 1950-06-06
DC. Exchange Volume
lags Behind 1949, but
Exceeds April Total
By Edword c. Stone


Sales on the Washington Stocl
Exchange in May totaled 21,73t
shares. or moderately below The
22.838 shares traded in the same
month year ago, a survey dis.
closed today. Sales we're vel
ahead of the April turnover oi
19.847 shares.
The high spot in May was the
great activity in Potomac Electric
Power rights" the trading to-
falling 235,210 warrants. a figure
never equaled in the sale of any
other rights. The rights allowed
purchase of the company's new
common stock.
Potomac Electric Power common
again was very active, with q
turnover in May of 1886 shares
Capital Transit caused surprise
with total sales of 2,118 shares tt
maintain this years heavy volume
Virginia Electric & Power common
remained in the limelight with
2,160 shares moving. Washington
Gas common sales ran up to 1857
shares.
Peoples Drug Sales OFF.
Net sales of Peoples Drug Stores
Inc, in May totaled $3.736,362
compared with $3.761 1852 in May
of last year, slight dip of $24.S9e
or OF per cent, w. H. Churchill
treasurer. announced today.
Sales in the first five months OF
1850 amounted to $18.548,823
compared with $18,822.3 1928 year
ago, a decrease of s273,505 or is
per cent. The company operated
one more store this year than in
May. 1949.
Gas Earnings Up Sharply.
Net income of the Washington
Gas Light Co. and subsidiaries in
II months ending on April 80
amounted to $2,304,48 or $3.05 a
share, compared with ST. ,237 ,449 or
b1.30 in the previous year, an
interim statement revealed.
Operating revenues in the IL
months totaled $21, ,426,957, COM
,ared with $18,307 ,282. Operating
expenses reached $18, ,300,515, COM
pared with $16.240.053. leaving
net operating revenues of $3.126,-
AT against $2,O67, ,229 in the pre-
;eding II months.
Bank School Opens June 10.
Twenty-six Washington bankers
will attend the graduate school
If banking at Rutgers University
rom June 10 through July l. The
ist, as announced by the ABA, in
:ludes:
James 3. Ahalt, City Bank; Dwisht
J. Allen, Board Of Governors, Federal
Ismilton is4eite Nation National: Harry P, Bergman
sigss National; Paul J.. Bissett. American
security; Allen H. Cannon, Anacostia
istionai; John r. Cocker, Riggs National
George e. Cole, Bank of Commerce
lanes e. Conner, American Security;
I. Dixon. Security Savings g. Commercial;
tx s. Ferguson; Washington Lsi Loan :, 4
sisss a Rational; Norman {. Hail. Fsderai
deposit Insurance. Corp; Ralph G; Kieler
: Kolh. Federal Reserve System:
Thomas s,s,, F. Mslon .t,.r IT. Hamilton Ma
.ional; A. Baker Nicholson. National Met
'opolttan: stephen Q. Porter. Riees Ma
9na R5nb DDIsas r. wson smlt Nsooa Bank
II Washington.
Lawson Gets Promotion.
Appointment of Marvin r. Law
son as an agency field assistant is
announced by the Home Life In
surance Co., New York. He was
formerly assistant manager of the
;ompany's Washington agency.
The 1887 national banks in the
United States plowed 81 per cent
If their net earnings into capi-
5al during 1949, adding $270 mil
lion to capital funds. the ABA re-
ported today While gross earn
lngs increased. they were largely
offset by rising expenses.
The Washington Rubber Group
will be host to $50 members of the
rubber chemistry division of the
American Chemical Society in
Washington next year
The Washington office reports
that the Kaiser Steel Corp. broke
IL different operational records
in May. Demand is still ahead of
production.
A business recession starts while
aggregate economic activity is
still expanding, and recovery starts
while aggregate activity is still
contracting, states the Thirtieth
Annual Report of the National
Bureau of Economic Research, is
sued today. The report, New
Facts on Business Cycles" is by
Arthur F. Burns, director of re-
search of the National Bureau.
Mergenthaler to Expand.
The Mergenthaler Linotype Co
Soday announced its acquisition OF
majority interest in the David
son Manufacturing Corp. of Chi
cago, manufacturer of rotary
duplicating presses, paper feeders
paper folders. plates and various
supplies used in offset printing
throughout the world.
President Martin M. Reed said
Davidson had a sales volume OF
about 81 million in it's last fiscal
Rear