Evening star. [volume] (Washington, D.C.) 1854-1972, 1953-04-30

| a.
in the previ-
Gus year. The S. NJ Hecht.
net was 80 per cent of sales VS..
3.3 per cent in the preceding
period.
Earnings before taxes totaled
Sc, 453,3 1874, or 6.3 per cent OF
sales VS.. $5,94O.376 or ga per
cent Of sales in the previous year.
, Federal taxes on income in
creased to $3,427,931 or 1888 a
share VS.. $2,855,587 or 1882. AS
previously reported, net sales
totaled $102, 1886, 633 VS.. $92,088.-
1872. The company had 883,176
shares outstanding at the end Of
the year VS.. 748.176 year
earlier.
Confident in d. C.iArca.
President Samuel M. Hecht
advised stockholders the COM
pany does not expect the pro-
posed Government economy
drive substantially to affect de-
partment store sales in the
Washington area, which con-
tributes a major portion of the
company's sales volume.
"Our many years of expert
ence in the Nations Capital
leads us to expect that the stable
and depression proof character
of this trading area will. If at
all, be only temporarily and
moderately affected by the Gov
eminent reorganization pro-
gram" he declared. The area
has felt some softening of CON
sumer-buyer psychology" how
ever, he said.
Working capital on January 81
totaled $32,635,210 VS.. $26,951.-
936 a year earlier. Stockholders
investment reached $35, 900, 702
or $39.70 a share VS.. $29, 905, 1913
or $39.97 a year earlier. Mer-
chandise inventories on hand
and in transit amounted to $14.-
al, SIT VS.. $12,647,010 and were
equal to IS days sales VS.. "a
days sales a year earlier.
Heads Westinghouse Office.
Directors Of Westinghouse Elec-
trio Corp. have elected c. Swan
Weber vice president in charge
Of the Washington Office.
Formerly manager of the east
ern district, Mr.. Weber succeeds
Leslie E. Lynde, who has been
elected manager of the Avia-
ton Gas Turbine Division.
William r. Merriam has been
elected vice president-public re-
lations of the Federation for
Railway Progress. He has been
director Of public relations.
Barnes Named President.
Leslie o. Barnes has been
elected president of Allegheny
Airlines and Robert M. Love.
former president, has been
elected chairman Of the board.
The new president, who be-
came director of operations for
Allegheny in February. has been
identified with aviation since
1887.
Before joining Allegheny he
was executive director of the
National Air Transport Co-ordi-
mating Committee in New York
and from 1916 to 1852 was direc-
tor of operations for the Air
Transport Association.
Ross o. Fowler, a graduate Of
the School of Foreign Service at
Georgetown University, has been
named export supervisor for the
Parker Pen Co.
Bank Women in Session.
Mrs. Nell Saylor. chairman
OF the Capital Group, Assocla-
ton of Bank Women, heads a
Washington area group, which
is attending the spring meeting
of the Middle Atlantic and New
England divisions of the Associa-
ton of Bank Women.
The meeting at Hotel Cham
berlain. Old Point Comfort, Va.
opened today and will last
through Sunday.
Others from this area who are
attending this important as
sembly Of women bank officers
are: Miss S. Winifred Burwell.
Miss Eleanor L. Dankmeyer, Miss
Charlotte A. Engel, Mrs. Mabel
Henry, Mrs. Frances B. Poole.
Mrs. Hazel Reiner. Mrs. Vera
w. Rhine, Miss Lena Talbert.
Miss Eleanor H. Watkins and
Miss Alice Whitton.
The regional meeting is Of
special interest to the Capital
group as the national convention
will be held in Washington in
September, under the chairman
ship Of Miss Burwell.
Personnel Expert to Speak.
DR.. William G. Torpel, per-
sonnet officer. Naval Ordnance
Laboratory, will address the
Washington Personnel Associa-
ton at the Kennedy Warren to-
night. His subject: What Pri-
vate Companies Can Learn From
Recent Government Personnel
Developments"
John B. Burgess. training di-
rector Of Hot Shoppes. Inc. will
preside. :.