Evening star., 1951-12-10

Mr. Parker. Mr., Tyssowski.
department store management
renewed confidence to continue
our program of increasing our ex-
panSion in the suburban commu-
mites around Washington.
The annual report mailed to
stockholders by Andrew Parker,
president, and John Tyssowski,
chairman of the Board of Direc-
tors, reflects the improved condi-
ton with showing of a 1875 per
cent increase in sales volume for
the year ended July 81. The total
for the year was $42, ,765 ,O66. COM
pared with $37, ,675. .533 for the pre-
vious year., Net profits for the
past year under the new LIFO
basis were $747,414 or $2.62 per
share of common stock. On the
former system of accounting
profits for the past year were
$901 .408 or 1923 per share. COM
pared with $849, ,098 or $500 per
share of common stock for the
previous year.
Dividends Unchanged.
The same dividends of SIS share
on preferred and So per share on
common were paid. At the close
OF the July 81 year. the book value
of common stock was $44.14 COM
pared with $44.76 before LIFO. On
July 81, the ratio of current assets
to current liabilities was 2.94 COM
pared with 2.97 before LIFO.
Woodward & Lothrop had en-
rolled under its Twenty Year Club
a total of 543 members among its
4,478 store employees at the end
Of the fiscal year.
With plans for the construction
Of a new branch store on the
South Glebe road in Arlington.
Va. progressing, and plans also
to develop q suburban store in
Alexandria, the outlook for the
coming year is encouraging. Other
improvements, such as the down.
town parking area and the tunnel
connecting the Main and North
Buildings. when completed. will
also contribute to an expected
good year.
Gas Light Revenues Dip.
The Washington Gas Light Co.
showed O decrease in net operat-
ing revenues for October COM
pared with year ago. Gross 0p-
Grating revenues Of $1,197, STA
were higher by $110,426. but op-
Grating expenses increased $780,
1856, to a total of $1,275. .429. pro-
ducing o net operating loss Of
$77,855 compared with loss of
$5.895 in October, 1850.
incorporating income was ST.
129, interest charges and other
deductions were $93,012 and the
final October result was a net loss
of $113,738 compared with a loss
of s34.380 a year ago.
Earnings for the company and
its subsidiaries showed conSoli-
dated net income of 81 ,644, 162 for
the 10 months of 1851 compared
with $1,644, 1893 for the same pc
riod last year.
Total gas sales were 12,213, 1866
therms for October and 173,207,- =
1874 therms for 10 months. Sales
to District customers rose slightly
to 7,278,148 therms In October
and 8 per cent to 101, ,148, 1853
therms in 10 months.
Trade Board Meeting.
The general membership meet
ing of the Washington Board of
Trade will be neld December Is,
at noon, in the Mayflower Hotel,
and not tomorrow as reported in
Sundays finance column through
an error. Traffic problems in
Washington will be the highlight
of the meeting. Speakers will in
clude Col. Sidney H. Bingham
chairman Of the Board of Trans
portation, New York. and Charles
M. Upham, director of the Dis
trict Motor Vehicle Parking
Agency.
Lacy's television and appliance
chain today announced the firm
will distribute $4,000 in Christmas
bonuses to the associates of the
seven stores on December IT.
Eugene Rietzke, chairman Of the
board and William Warsaw, presi-
dent of the firm, made the ar
rangements. The annual Christ
mas party will be held for all at
one of the Washington hotels on
December 10.
Caloric Stove Corp. Of Phila-
delphia, has appointed Mckee &
Albright. Inc, to handle the ad-
vertising of Caloric gas ranges
Chester c. Thompson of Wash
ington, president Of American
Waterway Operators, Inc, has beer
added to the Board of Director:
of the Transportation Association
Of America for the three year term
it was announced from Chicago.
>L. r.