In The Washington Post's annual Top 40 survey, published April 10 Southern Railway total assets were listed incorrect due to a typographical error. The correct amount, as of Dec. 31, was $2.3 billion.
Last year was generally good for corporation based in metropolitan Washington and, despite national economic caution, business leaders are quite bullish on 1977. The Washington Post's annual listing of the Top 40 area firms reflects the diverse economic base being built here, in a community still dominated by government - but less so than in previous years.
There is a newcomer to the list this year, Mars, Inc., although the food company is no newcomer to metropolitan Washington. It's just a private and very quiet firm and few people outside its management know much about its business. Companies included in the Top 40 have headquarters in this area and are the largest firms in terms of assets, revenues, employees and influence within their respective industries.
Annual finanical figures are for calender 1976 unless otherwise noted. If a company is traded publicly, its exchange is listed in parentheses - NYSE for New York Stock Exchange; Amex for American exchange; P for Philadelphia and OTC for over-the-counter. The Top 40 was compiled by Washington Post Staff writers William H. Jones, Claudia Levy and Colleen Sullivan. Utilities Chesapeake & Potomac Telephone Cos.
Description: Four companies, wholly owned by American Telephone & Telegraph Co., serving D.C., Maryland, Virginia and West Virginia, with a central corporate headquarters in Washington.
Revenues: $1.77 billion.
Profits: $213.8 million.
Dividends: (All paid to AT&T) $176.8 million.
Top Executive: Samuel E. Bonsack, president.
C&P's four companies served more than 7.5 million telephones at the end of 1976, up 292,000 for the year - the best growth rate since 1973. Long-distance volume rose to a record of more than 520 million and the companies spent $548 million on construction to modernize facilities. Like other AT&T operating units in a new era of competition, C&P has started selling telephone equipment at "phone center stores," 48 of which will open this year. A federal antitrust suit, seeking a possible breakup of AT&T from such regional firms as C&P is expected to make years to settle. In the meantime, telephone rates are expected to rise. Rates have increased 27 per cent in the past decade. Current rate hike proposals pending are $82.3 million in Maryland (a decision is due early in May) and $33.1 million in West Virginia. Virginia approved a $40.5 million boost Feb. 18 and rate increase fro D.C. customers is expected to be proposed later this year. Bonsack says higher productivity, a reduced work force and other savings have not able to offset inflation in costs. Potomac Electric Power Co.
Description: Electric utility serving D.C., a small portion of Northern Virginia, the populous Maryland suburbs and, through sales to a cooperative, Southern Maryland. (NYSE, P).
176 Revenues: $550 million.
Profits: $77 million ($1.72 a share).
Dividend: $57 million ($41 million on common stock, or $1.16 a share, since raised to $1.28 a share on annual basis).
Assets: $1.8 billion.
Top executive: W. Reid Thompson, chairman and president.
Earnings rebounded at Pepco last year after a depressing 1975, reflecting in part $64 million of higher revenues from increased rates approved late in 1975 or in 1976. The dividend was boosted in January to 32 cents a share quarterly and the company currently has enough reserve capacity so slow down its construction for expanded generating facilities. A proposed nuclear plant on the Potomac River is on the back burner. Higher rates took effect in D.C. during December ($29.4 million) and Maryland during January ($21.4 million). Whilese these will add to Pepco's revenues, Thompson said new rate increases will be proposed this year to meet "continued inflation in costs," and to maintain Pepco as a company that is able to attract investors in the future. The D.C. public service commission this year is studying Pepco's overall efficiency. Washington Gas Light Co.
Description: A utility which provides natural gas service to the metropolitan Washington area and, through subsidiaries, distributes gas to Frederick, Md., and the Shenandoah Valley region of Virginia and West Virginia. (NYSE, P).
Sales: $270.5 million.
Profits: $17.2 million ($3.30 per share of common stock).
Dividends: $8.05 million ($1.88 a share of common), since increased to $2.08.
Assets: $441.4 million.
Top Executive: Paul E. Reichardt, president and chairman.
The company's major goal for the next few years is to assure an adequate gas supply for its customers. Early next year deliveries of liquefied natural gas from Algeria are scheduled to start, which are targeted for use by one of the company's pipeline suppliers, Columbia Gas Transmission Corp. Transportation Southern Railway
Description: One of the most profitable railroads in the U.S., with routes through 13 Southeast states from D.C. and gateways at New Orleans, Memphis, Louisville and St. Louis (NYSE).
1976 Revenues: $1.028 billion.
Profits: $89.2 million ($5.85 a share).
Assets: $2.3 million.
Dividends: $33.1 million ($2.27 a share), now $2.32.
Top Executive: L. Stanley Crane, president and chief executive officer.
Southern's successful sale of a 25-year $75 million mortgage bond issue placed it in a stronger position than other railroads in financing capital improvements. Allegheny Airlines
Description: The nation's sixth largest domestic airline in terms of passengers, based at National Airport (Amex, P).
Revenues: $439.1 million.
Profits: $13.8 million preliminary ($1.91 a share).
Assets: In excess of $270 million.
Top executive: Edwin I. Colodny, president.
The 1976 results showed the second highest profits ever for the carrier, which could affect Allegheny's pending application for a federal subsidy. During 1977 the company plans to introduce high-frequency schedules in less dense and short-haul markets with 28-passenger jet-prop craft. Industrial-Food Martin Marietta Corp.
Description: Diversified manufacturing company engaged in cement, aluminum, chemicals, aggregates and aerospace industries in 35 states and 11 foreign countries (NYSE).
Sales: $1.2 billion.
Profits: $133.4 million ($3.32 a share).
Dividends: $32.6 million ($1.30 a share of common), now $1.40.
Assets: $1.2 billion.
Top Executive: J. Donald Rauth, president and chief executive officer.
Earnings improved company-wide as the economy began to bounce back, with the aluminum, aggregates and chemicals divisions enjoying the greatest gains. The corporation's diversity in key industries should link its outlook to that of the general economy. Mar, Inc.
Description: One of the largest, privately-held international food and confectionary corporations, whose subsidiaries manufacture Milky Way, Snickers, Mars and Three Musketeers candy bars, M & M candies, Uncle Ben's Rice and Kal Kan dog food, among other items. It has diverse holdings in Britain, Austrialia, West Germany, the Netherlands and throughout the United States. Corporate headquarters are in McLean, Va. Secrecy is the byword of this organization, which is not listed in the standard financial directories.
Sales: Estimated anywhere between $300 million and more than $1 billion (by financial consultants and securities analysts).
Profits: Extremely healthy, according to those who have had access to the company and reported that it appears to be productivity-oriented and run by a small but effective management team.
Assets: Plant, equipment, investments in at least five states and four foreign countries.
Top executives: James R. Fleming, chairman: A.C.C. Baxter, president. Fairchild Industries
Description: An aerospace firm based in Germantown, Md., which is also engaged in communications and real estate development. Its Fairchild Republic Division in New York produces the A-10 close air support aircraft for the Air Force, while its American Satellite Corp. is developing a private satellite communications system.
Sales: $263.6 million.
Profits: $4.9 million ($1.07 a share).
Dividends: 30 cents a share.
Assets: More than $110 million.
Top executives: Edward G. Uhl, chairman and chief executive; John F. Dealy, president. Washington Post Co.
Description: Owner of The Washington Post and Trenton (N.J.) Times newspapers; four television and one radio stations, including WTOP AM-TV here; Newsweek magazine; the Washington Post Writers Group syndicate; with interests in Robinson Terminal Warehouse Co., Alexandria (85 per cent), Bowater Mersey Paper Co. of Canada (49 per cent), International Herald Tribune of Paris (30 per cent) and Los Angeles Times/Washington Post News Service (50 per cent). (Amex)
1976 Revenues: $376 million.
Profits: $24.5 million ($2.72 a share).
Dividends: $2.2 million (25 cents a share), since increased to 36 cents annually.
Assets: $259 million.
Top Executive: Katharine Graham, chairman and president.
The firm's annual report states: ". . . It is the intention of the company to make further acquisitions in the communications industry . . ." One recent move in that direction, an offer for the New York Magazine Co., was pulled backed when Austrialian publisher Rupert Murdoch upped the ante. Still, company officials say, the desire to expand hasn't been thwarted. Company officers will be following closely an appeal to the Supreme Court by the Federal Communications Commission, of a recent Court of Appeals decision that could force the D.C. firm to divest its local broadcast stations. The Post newspaper, celebrating its 100th birthday, is continuing to add new technology for production and is experiencing record circulation - 560,000 daily and 765,000 Sundays for the last quarter of 1976. Washington Star Communications, Inc.
Description: Owner of the Washington Star, published Monday-Friday evenings and Saturday-Sunday mornings; the Washington Star syndicate; WMAL-TV in Washington; WLVA AM-TV in Lynchburg; WCIV (TV) in Charleston, S.C.; the York Co. Coast Star, a Kennebunk, Me., weekly; and the Westfield, Mass., Evening News.
1976 Revenues: Unknown; estimated at $50 million to $100 million.
Top Executive: Joe L. Allbritton, chairman.
Allbritton, who took over the ailing Star in 1975, has turned it arounds. Circulation and advertising volume have increased. He sold WMAL AM-FM to American Broadcasting Co. for $16 million and has reached agreement with Combined Communications Inc., to exchange WMAL-TV here for KOCO-TV in Oklahoma City, as part of a $65 million stock transaction. The Federal Communications Commission had mandated that Allbritton sell either the newspaper or broadcast properties here and Allbritton says the recent agreements show his intention to keep the Star and to "infuse new cash" into the newspaper itself. Last week, he told employees of Town & Country Properties, Inc., that the Star's losses - some $1 million a month three years ago - have been cut to one-fourth that amount. Dynalectron Corp.
Description: Diversified electrical engineering, contracting and aviation services firm (Amex).
Sales: $201.5 million.
Profits: $2.5 million (36 cents a share).
Dividends: $457,632 (6 cent a share).
Assets: $88 million.
Top executives: Jorge Carnicero, chairman; Charles G. Guiledge, president and chief executive. Pargas, Inc.
Description: A Waldorf, Md., firm that sells liquefied petroleum gas (LP) and LP utilization and storage equipment, with subsidiaries engaged in coal mining (NYSE).
Sales: $128.1 million.
Profits: $6.9 million ($1.95 a share).
Dividends: $3.4 million ($1 a share).
Assets: $124.9 million.
Top executives: William C. Hill, chairman; A.F. Anton, president. Quasi-Government
A batch of four government-generated corporations are facing tough questions this year that will affect their long-term health. The U.S. Postal Service is the subject of a broad inquiry by a blue-ribbon panel, the results of which are due later this month. The best quess is that the postal commission will recommend some reductions in service (such as Saturday deliveries) to ease expected losses but Congress and the Carter administration are unlikely to accept such a step. The outlook is for closer government control over the postal system and higher subsidies to cover losses, more say over who runs the service and less attention to concept of a truly independent postal corporation.
The National Railroad Passenger Corp. (Amtrak) must cut out some money-losing trains that are attractive to some members of Congress because they run through their own districts. But to keep losses under control, Amtrak has no other choice in an era when bus companies are claiming "foul," saying that subsidized trains are helping to ruin their own business.
Communications Satellite Corp. (Comsat) still awaits a court decision on a government ruling that overseas tariffs must be cut, which would trim profits sharply, and Federal National Mortgage Association (Fannie Mae), which supports a secondary market for home mortgages, has been challenged to prove that its business truly is in the broad public interest and not just for the benefits of stockholders and home builders.
Some details on 1976 operations. U.S. Postal Service
1976 Revenues: $11.2 billion (Year ended June 30, 1976), from mail operations.
Net Loss: $1.2 billion, with government appropriations of $1.6 billion. (In the most recent six months, the USPS had a surplus).
Assets: $12 billion.
Founded: 1971, as successor to the Post Office Department, which began in the English Colonies in 1962.
Top Executive: Benjamin Franklin Bailar, postmaster general. Federal Nationa Mortgage Association
1976 Revenues: $2.6 billion.
Profits: $127 million ($2.18 a share, diluted).
Dividends: $42.6 million (88 cents a share); current rate is $1.00.
Assets: $32 billion (mostly a portfolio of home mortgages).
Founded: 1938 (as a government agency which became a private firm in 1970).
Top Executive: Oakley Hunter, chairman and president. Communications Satellite Corp.
1976 Revenues: $154 million, not counting $30 million placed in escrow in the event Comsat must make refunds related to the FCC tariff decision now under court challenge.
Profits: $38 million ($3.83 a share).
Dividends: $10 million ($1.00 a share).
Assets: $590 million.
Top executives: Joseph H. McConnell, chairman; Joseph V. Charyk, president. Amtrak
176 Revenues: $278 million (18.2 million passengers), (year ended Sept. 30, 1976).
Net Loss: $438 million (not counting federal operating subsidies and grants).
Assets: $826 million.
Top Executive: Paul H. Reistrup, president. Finance, Insurance Riggs National Bank
Description: Washington's largest commercial bank and owner of the largest regional credit card firm, Central Charge Service (OTC).
Revenues: $109.9 million.
Profits: $13.225 million ($4.45 a share).
Dividends: $6.5 million($2.20 a share).
Assets: $1.699 billion.
Employees: 1,900 (including Central Charge).
Top executives: Vincent C. Burke Jr., chairman; Daniel J. Callahan III, president. Financial General Bankshares
Description: A holding company which operates a dozen banks concentrated in Washington, Virginia and Maryland. Its subsidiaries are engaged in various financial services. In terms of deposits, Financial General is second only to Riggs National in the Washington area. It controls Union First National Bank of D.C., American Bank of Maryland, Arlington Trust Co., Alexandria National Bank and Clarendon Bank & Trust (Amex).
176 Revenues: $117.0 million.
Profits: $10.4 million ($1.76 a share).
Dividends: $2.1 million (36 cents a share on common stock.), now 40 cents.
Banking Assets: $1.6 billion and $1.4 billion in deposits.
Employees: 2,500 (35 at parent company).
Top Executives: Harold K. Johnson, president and chief executive officer. American Security Corp.
Description: During 1976 the corporation became the parent of American Security Bank, the second largest commercial bank in Washington, but sold its majority interest in Fairfax County National Bank. It is also involved in real estate, insurance and travel services (OTC).
Revenues: $55.6 million.
Profits: $15.9 million ($6.59 a share).
Dividends: $6.8 million ($2.8 a share).
Assets: $1.4 billion and $1.1 billion in deposits.
Top executives: Carleton M. Stewart, chairman; W. Jarvis Moody, president. Suburban Bancorp.
Description: Holding company for Suburban Trust Co., fourth largest bank in Maryland. It has 57 branches, primarily concentrated in the Maryland suburbs (OTC).
Revenues: $71.5 million.
Profits: $10.4 million ($2.37 a share).
Dividends: $5.3 million ($1.20 a share).
Assets: $928.4 million, plus $828.5 million in deposits.
Top executives: Joseph Richards Jr., chairman; Robert Tardio, president. First Virginia Bankshares
Description: The largest bank holding company in Northern Virginia, owning 20 banks with 163 branches. Its largest operation is First Virginia Bank (NYSE, P).
Revenues: $90.4 million.
Profits: $8.5 million (81 cents a share).
Dividents: $4.56 million (45 cents a share).
Assets: $1.1 billion with $1.006 billion in deposits.
Top executive: Ralph A. Beeton, chairman and president. Perpetual Federal S&L
Description: Largest thrift institution in the Washington metropolitan area and 40th largest in the nation, with nine offices, approval to open two more in downtown Washington and a proposal - being challenged by neighborhood groups - to open a 12th branch at 18th Street and Columbia Road NW.
Assets: $873.7 million (OCt. 31, 1976).
Deposits: $735.6 million (June 30, 1976), 25 per cent from the District, 53 per cent from Maryland and 22 per cent from Virginia.
Mortgage loans: $785.5 million (Oct. 31, 1976), 25 per cent in the District, 53 per cent in Maryland and 22 per cent in Virginia.
Interest paid to savers: $37 million.
Top executives: Thornton W. Owen, chairman; Thomas J. Owen, president. National Permanent Federal S&L
Description: Second largest of the area savings and loan associations, with 10 offices and a new main office scheduled to open at 18th Street and Pennsylvania Avenue NW June 1.
Assets: $570.5 million.
Savings deposits: $481.5 million.
Mortgage loans: $499.6 million.
Top executives: John W. Stadtler, chairman and president; Thomas M. Walsh, vice chairman; Edgar F. Peterson, executive vice president. Navy Federal Credit Union
Description: World's largest credit union, with 52 business locations around the globe (including mobile unit stops) where loans and withdrawals are made. Eleven of the offices are in the D.C. area.
Dividends: $22.9 million (6.25 per cent paid semi-annually).
Savings: $423.4 plus $72.8 million in certificates (as of Dec. 31, 1976).
Assets: $566 million.
Loans: $456.4 million.
Employees: 671 (including part-time).
Top executive: Vice Adm. Vincent Lascara, president. Government Employees Insurance Co., Affiliates
Description: Geico, the base of this insurance and finance group, is one of the largest insurers of automobiles in the U.S. and the largest in this area. Affiliates, all independent companies with separate stockholders and managements, are Criterion, selling auto insurance to drivers who are higher riks; Government Employees Life Insurance (Gelico), and Government Financial Corp. (Gefco), a consumer finance firm with a headquarter in Denver. (OTC).
Figures below are for flagship Geico:
1976 Premiums: $636 million.
Policies in force: 2 million (1.6 million auto, 300,000 homeowners, 33,540 fire, 16,000 boatowners).
Net Loss: $26.3 million.
Dividends: None on common stock.
Top Executives: John J. Byrne, chairman of Geico; A. E. Kraus, chairman, and George F. Lewin, president, Criterion; Shelby Cullom Davis, chairman, and Thomas R. Hefner, president, Gelico; Davis, chairman, and Ernest L. Marks, president, Gefco.
After a year of "terror" in 1976, when Geico appeared headed for the biggest insurance failure in history, the prospects for 1977 include record profits - partially because of tax benefits reflecting losses in the past two years.International Bank
Description: A large, diversified financial services firm with investments in insurance firms, manufacturing, venture capital, ship registration and merchant banking. (OTC).
1975 Revenues: $9 million.
Profits: $2 million (27 cents a share).
Dividends: $1.9 million (25 cents a share on common and class A common).
Assets: $128 million.
Employees: 23,000 including subsidiaries and affiliates.
Top Executive: George Olmsted, chairman; Josef S. Tressler, president.
The statistics above don't begin to tell the story of IB, which operates banks overseas, insurance firms in this country, Liberia's maritime administration and manufacturing operations that include packaging machinery system. IB currently is in the process of selling its stock in Financial General Bankshares, as required by the federal government, and in assessing its financial results for 1976.
American Finance System
Description: A Silver Spring holding company for one of the largest consumer finance businesses in the country, with 419 offices in 24 states and Ontario Province of Canada. (NYSE, P).
176 Revenues: $84.5 million; gross receivables as of Dec. 31 were $340 million, mostly in consumer loans.
Profits: $2.8 million (46 cents a share).
Assets: $340 million.
Top Executive: M. L. Goeglein, chairman. Acacia Mutual Life Insurance Co.
Description: A Washington-based life insurance firm that ranks among the top 5 per cent of U.S. life insurance companies in terms of assets and policies in force.
Assets: $688.2 million.
Life insurance in force: $3.75 billion.
Net gain from operations: $17.5 million.
Dividends to policyholders: $16.6 million.Employees: 1,200.
Top executive: Daniel L. Hurson, chairman and president. Building Rouse Cor.
Description: A real estate development and management company whose 1,000 subsidiaries provide related real estate, investment and mortgage banking services. Its operations include the management of Columbia, Md., as well as 26 retail centers in 10 states and two Canadian provinces. Four new shopping center were opened by Rouse in 1976 including Les Terrasses in Montreal and Faneuill Hall Marketplace in Boston. (OTC).
Revenues: $4.6 million before non-cash charges, primarily depreciation, or a net of $1.4 million (10 cents a share on common stock).
Assets: $528.6 million.
Employees: 460 (parent company alone).
Top executives: James W. Rouse, chairman; Mathias J. DeVito, president. B.F. Saul REIT
Description: A Chevy Chase-based real estate investment trust (NYSE, P).
Gross Income: $35.6.
Loss: $21.1 million ($2.14 a share for year ended Sept. 30).
Assets: $319.6 million.
Employees: 175 (employees of B.F. Saul Enterprises).
Top executive: B. Francis Saul II, chairman of the trustees. Food Service, Hotels Marriott Corp.
Description: This international, Bethesda-based corporation owns and operates hotels, restaurants, and airline food service, cruise ships and ttwo "Great American" amusement parks (NYSE).
Revenues: $890.4 million (for the year ended July 30, 1976).
Profits: $30.8 million (90 cents a share).
Dividends: No cash dividend but a 2.5 per cent stock dividend valued at 44 cents a share was issued in March, 1976; another 2.5 per cent stock distribution will occur later this month.
Assets: $844.2 million.
Employees: 60,600 (including seasonal).
Top executives: J. Willard Marriott, chairman; J. W. Marriott Jr., president and chief executive officer. Quality Inns, International
Description: A Silver Spring-based hotel, motel and recreational lodging corporation with 300 franchised properties with more than 31,000 rooms in the U.S., Canada and Europe (OTC).
Revenues: $54.06 million (for year ended Aug. 31, 1976).
Loss: $1.4 million.
Assets: $81.7 million.
Top executive: Joseph W. McCarthy, president.
A series of management changes, increases in overall occupancy rates, the discontinuance of its unprofitable furniture manufacturing operation and sales of individual losing properties are expected to result in a consolidated profit in 1977. The Macke Co.
Description: Food vending company that also operates cafeterias, provides janitorial and other services and sells office furniture (NYSE).
Sales: $185.6 million (for year ended Sept. 30, 1976).
Profits: $3.2 million ($1.06 a share).
Dividends: $974,000 (31.5 cents a share), now 36 cents.
Assets: $50.9 million (as of Dec. 30, 1976).
Top executives: Meyer Gelfand, chairman and chief executive; Joseph Kingrey, president. Retailing Giant Food, Inc.
Description: A regional food retialing chain of 110 supermarkets and 47 diversified stores concentrated in the suburbs of Washington, Baltimore and Southeastern Virginia. Included in its operation are two department stores, seven carpet centers, two gas stations, three garden centers, 35 in-store pharmacies, 25 Pants Corrals, seven optical centers and one Frontier Room store (Amex, P).
Sales: $895.3 million (for year ending Feb. 26, 1977).
Profits: $10.6 million ($3.21 a share).
Dividends: $3.7 million ($1.50 a share).
Assets: $186 million.
Top Executive: N.M. Cohen, chairman; Joseph B. Danzansky, presient.
Giant, the largest area-based food retailer, plans to open seven new food and pharmacy combination stores and four Pants Corral stores during fiscal 1978. Woodward & Lothrop
Description: Among nonfood retailers in metropolitan Washington, second only to Sears, Roebuck & Co. and the third-largest independent department store company in the nation, with 13 units in the metropolitan area, Annapolis and Columbia. (OTC).
1976 Sales: (Year ended Jan. 29, 1977) $241 million.
Profits: $11.7 million ($4.89 a share).
Dividends: $3.26 million in fiscal 1976 on common stock (Woodies recently increased its quarterly dividend rate from 35 cents a share to 42.5 cents, or an annual rate of $1.70 vs. $1.40 previously).
Assets: $140 million (Jan. 31, 1976).
Top Executives: A. Lothrop Luttrell, chairman; Edwin K. Hoffmann, president and chief executive.
Woodies has met the new competition in town, Bloomingdale's of New York, and not suffered by comparison. In fact, sales were up 10.5 per cent and profits wereup 20 per cent in the past 12 months, reflecting store modernizations, expansions and new fashion emphasis added before Bloomingdale opened last fall at Tysons Corner Ahead: Another $20 million for store renovations in the next five years, including a major overhaul of the downtown store. Garfinckel, Brooks Bors. Miller & Rhoads
Description: General merchandise retailer, with 92 department and specialty clothing stores in 16 states and the District.
1976 Revenues: $297 million (Year ended Jan. 29, 1977).
Profits: $9.7 million ($2.25 a share).
Dividends: $4.2 million in fiscal 1976 (92 cents a share), currently paying $1.04 a share.
Assets: $151 million (Jan. 31, 1976).
Employees: 12,500 full and parttime.
Top Executives: Willard O. Bent, chairman; David R. Waters, president.
Fourth-quarter results for the largest nonfood retailer based in Washington were exceptionally strong and the brightest spot in the corporation's business recently has been the Brooks Brothers menswear specialty divison. Peoples Drug Stores
Description: Its mid-year merger with the Lane Drug Corp. pushed the number of retail pharmacy outlets operated by Peoples to 378, with units in 10 states and the District (NYSE, P).
Sales: $344.2 million (for the year ended Sept. 30, assuming merger for full year).
Profits: $4.3 million ($1.18 a share).
Dividends: $734,000 (20 cents a share).
Assets: $98.7 million.
Employees: 7,000 (excluding employees of Lane.
Top executives: Adrian C. Israel, chairman; Sheldon W. Fantle, president and chief executive officer.
The merger with Ohio-based Lane Drug brought Peoples under the financial wing and added strength of ACLI Internationa, Inc., a multi-billion dollar organization involved in commodities and shipping. Drug Fair, Inc.
Description: Retail drug chain with 158 stores in D.C., Maryland, Virginia, West Virginia, Pennsylvania and Delaware (Amex).
Sales: $218.3 million (for the year ended June 30M 1976).
Profits: $4.2 million ($2.61 a share).
Dividends: A 10 per cent stock dividend and a $639,368 cash payout (40 cents a share).
Assets: $57.7 million.
Top executives: Myron D. Gerber, chairman; Milton Elsbery, president.
The chain has expansion plans for the upcoming year with 11 new store leases signed, 27 under negotiation and five new outlets under construction. Four pilot optical centers were opened since the end of the fiscal year. Dart Drug
Description: Retail drug chain with 71 outlets in the District, Virginia, Maryland, West Virginia, Pennsylvania and Delaware (OTC).
Sales: $170 million estimated (for year ended March 31, 1977); $129.4 million for the nine months ended Dec. 31.
Profits: $1.4 million (75 cents a share for the nine months ended Dec. 31, 1976).
Dividends: $160,000 (13 cents a share).
Assets: $46 million.
Top executive: Herbert H. Haft, president.
Dart opened five in-store optical departments in fiscal 1976 and plans to open four more this year. Its expansion program calls for eight new stores to open this year and for the remodeling of seven established locations. Hechinger Co.
Description: A chain of 17 retail do-it-yourself hardware stores in the metropolitan area. (OTC).
1976 Sales: $80.4 million.
Profits: $2.05 million (76 cents a share).
Assets: $26 million (Jan. 31, 1976).
Top Executives: Richard England, chairman; John W. Hechinger, president.
Hechinger is growing rapidly - sales last year were up 16 per cent - reflecting how much the average homeowner is into doing his or her own work, because the cost to have it done by others have soared beyond many a pocketbook. The company is building a new headquarters and warehouse-distribution center in Prince George's County, designed to serve a 200-mile radius.