Evening star., 1925-10-19
F|VEFOLO ORDERS
SEEN IN ESTIMATE
0versubscriptions Greet New
Potomac Power Stock.
Gas Sells at rs.
BY CHAS. +. SHAEFFER.

The offering of s2,00o,000 of new
voting per cent preferred stock
of the Potomac Electric Power Co.
subscriptions books for which opened
last Wednesday and will close today.
appeared five times oversubscrihed
this morning.
This estimate was gained from in
stitutions participating in the offer.
ing, some of which. individually. had
enough orders 10 take care of the
entire issue.
The usual last-minute deluae of
buying orders will swell the total to
considerable extent, but all those re-
ceived up to the close of business
tonight will be given consideration.
At the company it was said en-
pIoyes are husily engaged in compil-
ing orders that have heen received.
hut no indication was given as to the
policy to he followed in making allot-
ments. This matter will he post
poned until all subscriptions are in.
and compiled, but il is considered
improbable in authoritative quarters
that fiat scale of pairing down in
portion to the oyersubscripi ions will
be used. Rather. il is felt that small
orders will he dealt with more le~i.
emily than those Of larger propor-
tionS
Gas Stock AT New Top.
Gas and Traction stocks, which
featured last weeks ira actions.
again occupied the spotlight in 10
days session. the former making
most pronounced gain of pa points
To new ali.time high at -. This
stock, which is selling ex-dividend
opened At - and registered successive
advances to its close. Sales totaled
elN shares
Capital Traction. on the other hand
suffered a fractional easing off at the
close. the last loo sha res of the days
total of 3T0 selling at l01 as against
the DAYS peak at 1nIA.
The remainder Of the list was quiet
with Railway preferred selling at sii7
and ssa4 and Lanston MonotEpe Al
S5A. Gas 6 per cent bonds brought
1903. and one share of Riggs Nationa
Bank sold at 400.
\ prominent group of local bulls
and bears cast off their respective
Identities over the week end and dis
ported themselves with the carefrea
abandon of gamboling lambs at the p
nnal picnic rendered by the Liberty
National Bank Al Dunbar Lodge on
the eastern shore of Maryland.
George Walson's Musketeers, IS
the clique is hest known. made the
trip in an auto caravan SaturdaE
afternoon returning to Washington
last night. Iollity was the keynote or
the occa sion headed by NJ. O. Chance
and T F. Littlepase, the latter, gen.
eral counsel of the bank. oiled his
well known oratory machinery in
pleasing dissertation on The EVo'u-
tion n the oyster, while f. II
Schmidt. trea surer nf the United
States Shipping Board, injected the
only serious thought into the outing
with 2 recital OF the inner workings
of The Fleet Corporation.
Those in attendance included George
O. Watson. r. ]. McQuade. NJ. F. Cal
nan. J. r. Skinner. 7. +. Littlepage,
II {. Calvo. William b. kerkam, L.
Bert Nye. Ernest L. Herrel. J. +.
Burke. Robert E. Flynn. E. H.
Schmidt, DR.. J. ]. Georges, Frank Kill
lian, James Proctor, c. 3. Asher,
Thomas p. Brown. Charles A. Cana
lier. <. T. Cameron. NJ. o. Chance, j.
T. Gull. jr.: Dr. l.. F. Davis. Paul f
Johnson. J. f. Shoemaker and Chas.
p. Shaeffer.
Given New Bank Position.
w. &. Vernon has been elected as
sistant trea slIrer of the MerCha nts
Bank and Trust Go. and will he sta
/ toned at the Broollland branch of the
Institution.
Mr. Nernon'S career with the Ner-
chants has been of relatively short
d11ration his latest service with them
being in charge of foreign exchange
at the Dupont Circle branch.
I Asks ]. c. {. Note Approval.
The Central of Georgia RAILWAY. in
order To finance q purchase of Is loco
motives and 900 freight cars. asked
the Interstate Commerce Commission
today To approve an issue by it Of
So $40 900 in equipment trust certih
Gates. The securities will he sold to
Kuhn, Loeb & Co. of New York.
Bankers Meet Tonight.
The first business meeting Of the
District Bankers Association will he
held tonight at its headquarters. in
the Masonic Temple. The session will
be executive in character. with the
main topic of discussion being the
I handling of Improbable accounts.
| There will he no attempt, it is under
stood. to secure unanimity in the
matter of service charges for such
; accounts. but the wisdom of such
i policy will be outlined at the meeting
by successful bankers who follow the
| practice.
| The American Institute of Banking.
j which also occupies the Temple quar-
| ters. will hold its commercial law
! class at the Willard Hotel. while the
| investment class will meet in the
| boardroom of the Federal-American