Evening star., 1953-03-31

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locations were ''''''' S<>'
under con- Mr.. Warren.
Struction at the end Of 1852.
he said. A new distribution
center at Kansas City, an
Oklahoma City warehouse and
a Los Angeles bakery were
among the projects put into
operation in 1852. The $40 mill
lion distribution center at Land.
over, Md, was completed.
Remodeling was finished at
1873 retail locations and 10 addi-
tional projects were in progress
at the end Of the year.
your management believes
that approximately 100 new re-
tail stores should be constructed
each year in order to replace
obsolete existing stores and keep
pace with population shifts and
growth" stated Mr.. Warren.
AS previously reported the
company's 1866 retail stores had
sales of 81. 1.481, ,712.000 in 1862 VS..
$1.320,919,000 from 1867 stores
in 1852. Net income was ST.
331 ,943 or $2.01 a share VS.. ST..
615,851 or $2.26.
Gas Earnings Improve.
Net income of Washington Gas
Light Co. reached $349.646 in
February. compared with $780,
189 in February, 1852, the COM
pany reported today.
The months operating rev.
enues of $3,033, 1928 were $302. .242
above a year earlier. while oper-
ating expenses of $2,633.451 were
up $248, ,769.
For two months this year net
income was $748,387. compared
with $734,799 a year earlier.
Operating revenues Of $6.255, ,982
were $682,637 above the same
1852 period, while operating ex-
penses Of $5.398,080 were up
$487,196.
Consolidated net income of the
company and subsidiaries was
$735, ,444 in February VS.. $647, ,34l
a year earlier. Consolidated net
for the two months was $1,505,.
705 VS.. 81 ,240, ,458.
LanStOn Merger Proposed.
Directors of Lanston Monotype
Co. have proposed a merger of
the company into a new COM
pany, Lanston Industries, Inc.
and stockholders will vote on
the plan at a special meeting
April "a, it was announced yes.
terday.
Under the plan, each Lanston
Monotype common share would
be converted into one share Of
LanSton Industries common, plus
$4 par value Of 5 per cent cumu-
lative preferred stock and 50
principal amount Of A. per cent
debentures.
Lanston Industries also would
own Cuno Engineering Corp.
Effective control of Lanston
would be with Donner Corp.
which owns IS per cent Of Cuno.
Airlines Loss Reduced.
Capital AirlineS reported a net
loss of $312,194 for two months
of this year, compared with q
deficit of $868,644 in the same
1852 period.
February operating loss was
reduced to $103,703, compared
with a loss of $409.680 in Feb
ruary, 1852. Net loss was re-
duced to $122.481 from $409 ,958.
Transit Salaries Higher.
Officers and directors Of Cap
ital Transit Company were paid
$206, ,476 in 1852, an increase Of
20 per cent from the previous
year, it was disclosed yesterday.
Louis E. Wolfson, board chair
man, received $35, ,342, an in
crease Of 40 per cent from the
previous year.
Doran s. WeinStein, executive
vice president. received $31 500.
In the previous year he was not
listed among officers receiving
more than $4,000.
Maryland Banks to Close.
Maryland banks will be closed
Friday in observance of Good
Friday, which is a legal holiday
in that State. District Of Co
lumbia and Virginia banks will
be open at regular hours.
The Washington Stock Ex-
change will be closed along with
other securities exchange across
the Nation.
j. Walter Thompson Co. has
moved to new quarters at 1887
DeSales street NV. It was To-
Gated previously in The Star
Building.
Sales Chief Appointed.
Burton Oranburg has been
added to the sales staff Of the
Hot Point Division Of the Simon
Distributing Corp, as district
sales manager. Mr.. Oranburg
is from Boston, Mass. where he
was associated with the North.
Eastern Distributing Co., as ter
ritory sales manager.
Philip H. Groggins Of WASH
ington, who recently retired
from the Agriculture Depart
ment, has been named consult
ing editor Of the Journal Of
Agricultural and Food Chem.
istry, Q new publication of tho
Annesican Chemical Society.