Evening star., 1925-10-16
NEW PEPCO ISSUE
FINDS FAVOR HERE
Heavy 0versubscription Seen
as One House Alone Reports
Sufficient Orders.
By CHAS. p. SHAEFFER.

SutH dI dSdIdncne Oh Or0erS nave
greeted the offering of new per cent
preferred stock of the Potomac Elec-
trio Power Co. since books were opened
two days ago that there seems little
doubt the s2,000.0O0 issue will be sub
scribed many times over
This assertion is borne out by Il
statement Of brokerage firm which
is participating in the flotation which
revealed they already had sufficient
orders to take care of the entire issue.
In addition to this house, there are a
dozen designated banks taking orders
as well as two other brokerage con
Germs and the company itself.
Total subscriptions to the issue can
not be other than estimated until
some time after the books close on
October 10, when officials of the COM
pany have had opportunity To com
pile the totals.
Methods of AIlotments.
According to we'll informed circles,
it is unlikely that allotments will be
prorated as is usual in the case of
oversubscriptions. Such d policy would
defeat the suggestion of the Public
Utilities Commission that as much of
the stock as possible be placed in the
hands of employees and consumers OF
electric light. Anticipating huge over
SUBSCRIPTIONS, corporations and inSti-
tutionS that desire the stock could
double or triple their subscriptions
over their actual requirements and
thus still secure approximately the
amount they actually wanted in the
event the company scaled down all re-
quests of the ratio of oversubscriptions.
Rather, it is believed the small orders
will be taken care of, perhaps in full.
before the larger orders are given con-
sideration. This, at least, seems to be
the logical procedure. as the COMPANY
has stated it wants to give the stock
as wide distribution as possible.
Local Exchange Strong.
A sharp upturn visited the Wash
ington Stock Exchange today, result
ing in a new high figure on the pres
ent movement in Washington Gas and
| new all-time high for Federal-Amer-
lean National Bank stock. The for
mer was in active demand on small
lots, netting an advance of 3& points
to 68, ex dividend, on sales of 120
shares. Twenty shares of the bank
stock brought 80.
The remainder of the list was un-
| interesting. Traction stock sold at
| par and a half. Railway, preferred
brought SAL. and Lanston Monotype
S51a.
| Takes Charge of Strike.
Tie United States Railroad Labor
! Board, at Chicago, has assumed juriS-
| diction of the strike dispute between
the engine, e,brotherhoodS and the West
| ern Maryland Railroad. The last time
| the board assumed jurisdiction of an
engine strike controversy, in the course
of which the brotherhoods assailed and
defied the board, legal questions
| isnI .-t;
Court. Since then. however, the
| brotherhoodS, through their chief
executives, have voluntarily submitted
| to the board a case on the st. Johns
bury and Lake Champlain.
| The board has cited representatives
| of brotherhoods and management in
! the Western Maryland case to appear
| before it Monday. the same day set for
hearing of the brotherhoods' submis-
! sion relative TO the st. Johnsbury road.
The telegram sent by the board to
! the brotherhood executives and TO
mana cement officials. reads, in part:
The foregoing date, October 10. is
suggested both for the sake of prompt
/ ness and on account of the fact that
! the two organizations of employees in
! volved have another hearing set for
| the forenoon of the same date brought
before the board by them from a diff
| ferent carrier
The Western Maryland line tray-
| erses 691 miles. About 500 employees
are effected in the strike. which was
effective at 6 O'Clock yesterday morn
| ing. according to unofficial advices of
the board.
| Moody's Weekly Review.
Moodys Weekly Review of Finan-
cial Conditions. in its current issue
| says. in part: