Evening star., 1950-04-25

1948.
Net profit on each dollar of sales
was as cents compared with As
cents a year ago. Regent sales
show a steady expansion in dollar
volume, President Samuel M.
Hecht announced.
Hecht stores Tailed 1,022.Sl6
more individual transactions than
a year ago, or 14.064,354 sales
checks, a gain of 8 per cent. The
average sales check dropped from
81 for le48 to S6.62 for 1949. Fed
eral taxes amounted to 1925 a
common share.
Net working capital increased
s2,o27 ,280 to total $25, ,3Sl ,966 at
the end of the year, gain equal
to $2.7l a common share. Bank
loans Of S750000 were paid off and
plans made for reducing the long
term debt by $4,000 in 1850.
Total assets rose from $27,778,486
to 3O,37s.876.
The 100000 addition to the
Silver Spring store is practically
completed.
ID. C. Bankers HOnOred.
Raymond G. Marx, controller OF
the Riggs National Bank. was re-
elected president of the Eastern
Regional Conference of the Ma
tional Association of Bank Audi
tors and Controllers. which has
just concluded the spring meeting
at Miami. He has been one of
the leading members in the At
lantic territory for six years.
Fulton Dixon of the Security
Savings e. Commercial Bank was
reelected secretary treasurer. He
is chairman of the Auditors Sec
ton of the District Bankers AS
sociation.
Capital Airlines earned an oper-
ating profit of $1.319.437 and a
net profit, after taxes, of $834,178,
or $1.74 per share on common
stock during 1949, the annual re-
port announced today. In addi-
ton a profit of S847 ,483 was real
lied through purchase of deben-.
lures at pricess less than their par
value.
Operating revenues increased
$3.580.714 to total $26,905 1886.
The company's financial condition
improved markedly during the
year. working capital increasing
by $1.602.648. Notes due banks
were decreased by $2,700,00O, de- |
benture debt was reduced $2,603,-
500 Operating revenue was the
highest ever known. $26,905 1886.
Executives Hear Dosher.
Fen Dosher. vice president in
charge of sales of the Lily-Tulip
Cup Corp. of New York, and a
national speaker of note, ad-
dressed the Sales Executives Club
of Washington at the Mayflower
Hotel last night on Leadership.
He pictured the duties and re-
sponsibilities of top sales execu-
tives in a most vivid and practical
manner. Prizes we're awarded six
winners in a recent educational
contest.
Eugene Myer was elected di-
rector of the Allied Chemical g.
Dye Corp. at the annual meeting
He is chairman of the board of
the Washington Post. former
president of the World Bank and
former chairman of the Federal
Reserve Board.
Marx Leva. Assistant Secretary
of Defense, Senator Ferguson and
Or. Edwin G. Nourse will discuss
the Battle of the Budget" at a
United States Chamber Of Com
nierce luncheon at the Statler on
May 2.
Dan Stearns has been made Dis
trict sales manager of the HySter
Co., which makes lift trucks and
cranes. His territory includes the
Virginias, Pennsylvania and New
Jersey.
Economic Study Planned.
The Institute of World Affairs
has been granted $4,000 by the
Merrill Foundation for Advance
ment of Financial knowledge to
make a study of financing world
economic development. The study
will be under. DR.. Adolph Lowe.
institute director.
Net income of the Southern
Railway in March amounted to
sl,964,734 compared with sl,192.-
200 in March, 1949. Net income
in the first quarter reached So
6sO,24o against $l,7l8,107 a year
ago.