Evening star., 1950-09-08
D. T.. Stock Exchange
Reports Decrease in
Trading for August
By EdNord c. Stone

By Edxord c. Stone
Volume of trading on the Wash
ington Stock Exchange during
August totaled 1854 shares, a
decrease of 1890 from July. it was
announced today by exchange Of
ficialS.
Potomac Electric Power common
was by far the most active stock
on the board, with 14,21l shares
changing hands. The popular
stock ended the month at $3.50
a share, where it is still selling.
Capital Transit furnished the
surprise of the month with
turnover of COG shares against BOT
in July. The stock jumped rapid
ly in price, touching $39 a share
and closing at $36 a share. 1t
has sold lower in September. The
sharp price rise took place just
before the directors doubled the
quarterly dividend. advancing it
from so cents to 81 share.
$50 Garfinckel Shares Sold.
Garfinckel common stood second
in August turnover, with 500
shares changing ownership. Vir-
ginia Electric & Power common
sold to the extent of 331 shares.
Washington Gas Light common
remained an outstanding favorite
with 5o8 shares figuring in August
trading. Gas Light $4.25 pre-
ferred was in strong demand. $50
shares appearing on the board.
American Security & Trust was
the most active bank stock, sales
totaling 215 shares.
Peoples Drug Sales Gain.
Sales of Peoples Drug Stores,
Inc, improved in August, with a
total of $3,798,539 comparing
with $3,722,571 in August, 1949.
an increase of $75,967 or 2 per
cent, w. H. Church, treasurer,
announced today.
Sales from January through
August totaled $29,710.044 in
comparison with $30,254,458 in
the first eight months of 1949.
a decrease of $544,414 or 1.S per
cent, the report showed. The
company operated one more store
this August than a year ago.
Silver Dollars i'm Demand.
Ten thousand silver dollars
were sent via All American Air
ways to the Marine National
Bank at Wildwood, N. j., today
by the American Security & Trust
Co. The silver dollars were sent
at the request Of the Aircraft
owners and Pilots Association
who are holding their annual
roundup" tomorrow.
The members of the association.
who are owners and pilots Of
small aircraft, will exchange their
paper money for the silver dollars
and use them for spending money
during their convention.
Top Speakers Announced.
Joseph E. Moody, president,
Southern Coal Producers, Wash
ington, will be a headline speaker
at the 48th annual meeting of
the National Petroleum Associa-
ton, at Atlantic City, next week.
He will speak on Goal Contracts
and Confusion"
Another speaker will be Walter
Chamblin. jr.. vice president of
the National Association of Manu-
facturers, Washington. He will talk
on "Washington-Capital of World
Democracy" w. S. Zehrung, presi-
dent of the national association,
will welcome the TOO oil men ex-
pected.
The program calls for a large
number of group meetings, elec-
ton of officers. annual dinner,
breakfast parties and other fea-
lures.
Regular Dividend Declared.
Directors of the Knott Hotels
Corp, which owns the Houston
Hotel here, declared the usual
quarterly dividend of 321a cents
per share, payable September %
to stock of record September IA.
Albert w. Slender was elected a
vice president and director.
The new Cafritz Building is
rapidly nearing completion, with
the first tenants scheduled to move
in during November. Many prom
inent organizations have already
taken space. the management says.
William j. Link, manager of the
Prudential Insurance Co.'S Rock
Creek Park District Office, has been
with the firm rs years today, most
Of the time in the main office in
Newark.
Heard in Financial District.
The town of Orange, Va, has
asked for bids September 18 for
$250,000 water and sewer i'm
provement bonds. maturing Sep
tember /. 1951-69.
Installment accounts in the
Nations department stores reached
an all-time high in July, SO per
cent above the like 1949 period.
Seaboard Air Line Railroads
quarterly dividend boost from so
to rs cents share on common
pleased many stockholders here.
The United States Savings Bond
Independence Drive Committee
gave reception to volunteer lead
ers at the Mayf1ower yesterday.
Edward c. Baltz, chairman, head
ed the reception line.