Evening star., 1951-05-08

the year ended January 81, 1941
Sales transactions for the --latest
year numbered 14,017,421 dowr
slightly from the record 14,064,-
354 of the previous year. but 81
per cent above 10 years earlier.
While earnings showed decline
to $3,627,6 or $4.59 a share as a
result of the new LIFO method
of valuing inventories Qast-in
first out), they would have shown
an increase figured on the basis
used in previous years. On the
old basis the years net income
would have been $3,987,508 OF
$5.07 a share VS.. $494 a share in
the previous year.
Merchandise on hand and in
transit on January 81 totalei
S12,902,956 VS.. S9.361,019 a year
earlier. After provision for re-
serves, deferred payment ac-
counts on January 81 totaled
$15,752,541 VS.. S14,873,244 a year
earlier, while regular charge ac-
counts totaled $7,344,978 VS..
$5,840,263. Current assets also in
cluded S2,909,161 in cash VS.
$2,709,094 a year earlier.
Construction of an Arlington
store as part of a $13.500,000
shopping center was started dur
ing the year. 1t is to open late
this year. The Silver Spring store
was enlarged by $4,000 square
feet during the year. Hecht's New
York and the Hub at Baltimore
were modernized.
Heads Capital Delegation.
Miss Charlotte A. Engel. trust
officer of the National Savings &
Trust Co. will head a Washing
ton delegation to a joint meeting
of the Middle Atlantic and New
England Divisions of the AsSocia-
ton of Bank Women at Atlantic
City May lib.
She is chairman of the aSSocia-
tion's Washington group Other
members of the Washington dele
cation will be Miss S. Winifred
BurWell, assistant trust officer OF
the National Metropolitan Bank
and Miss Eleanor L. Dankmeyer
secretary of the Security Bank
Among the speakers will be
Miss Bertha Lawrence, dean Of
instruction, State Teachers Col
lege, Trenton, N. j.; Frank C.
Pesney, Public Service Electric &;
Gas Co., Newark, N j.. Henry
w Fielder, vice president, the
Boardwalk National Bank of At
lantic City.
World Trade Week Planned.
Wide participation in this years
observance of World Trade Week
is foreseen by the United States
Chamber of Commerce, sponsor OF
the event scheduled May 20-26.
This years slogan will be Trade
Abroad-ProSper at Home" " Local
chambers of commerce, trade as
sociationS and business concerns
will participate.
Between $50 and 300 mutual in
Surance agents from over the Ma
ton will attend the mid-yea1
meeting of the National Associa-
ton Of Mutual Insurance Agents
at Swampscott, Mass, May 1880
The National Sales Executives
will hold its annual convention a
the Waldorf in New York, May 81.
June 2. A large Washington dele
cation is expecting to attend.
j. K. LASER, president of j. K
LASER & Co., of New York, anc
George w. N. Riddle, manager, ad
vertising media division, Genera
Electric Co., will be among tn
speakers at the spring meeting O
National Business Publications
Inc, at Hot Springs. Va, June 1-G
Mergenthaler Net Up.
In his semi-annual report
the stockholders, Martin NJ Reee
president of Mergenthaler Limo
type Co., announced that sale
were approximately 4 per Ger
higher than those Of the CORE
spending period of the 1850 fiscs
year.
Net = domestic sales for 81
months ended March 81, wer
S1O.536,011 VS.. $10.O96,360 a yea
earlier. Net income, after pre-
vision for Federal taxes on in
come, amounted to $1,209,825.
Mr.. Reed said operating result
for the last half of the 1851 hsc;
year are expected to be as salts
factory as those of the first 81
month";.