Evening star., 1925-12-01
PERMANENT STOCK
RIGHTS ARE READY
Potomac Preferred Interim
Receipts ExchangeabIe To-
day for Definitive Shares.
BY CHAS. =. SHAEEEER

8 per cent series of Potomac Electric
Power preferred stock are being eX-
changed today by the American Sc
curity and Trust Co for the dehnitiye
preferred shares. and cash purchasers
! are being handed one months interest
on their holdings. aggregating $S,326
before adjustments
To eliminate Inconvenience and
wasted effort it should be remembered
that the transfer agent Will not accept
interim receipts for delivery unless
the receipt for delivery of stock Ger
tlficate' printed on the back of the
receipt is correctly filled in The
signature accompanying this in
dorsement must be witnessed by n
local bank or brokerage house unless
the holder is personally known to the
American Security and Trust Co.
Otherwise transfer will be denied
1t is also emphasized that interim
| receipts issued only on or before No
Vember 80 should he presented, issu-
ances later than this date TO be trans
ferred on March ! next, so as not to
disrupt dividend payments.
The interest being paid upon trans
Ter TO definite shares Is one months
accretion at the rate of 6 per cent.
Hereafter regular quarterly dividends
VIII be disbursed the 1st OF March,
June, September and December.
Spaid Heads Bankers Committee.
Upon the broad and capable shoul-
| IerS Of w. W. Spaid, second vice presi-
| dent, VIII rest the cares and griey-
ances incident to the 1926 annual con
VentIon Of the local banker body, that
| official having been named Yesterday
! by President Francis G.. Addison jr
| to head the general convention com
mlttee for the coming wear
In this capacity II will devolve upon
| Mr.. Spaid to take full charge of the
| affair, and he can fairly be expected
| to maintain or even improve the high
| standard Of efficiency set at previous
| conclaves.
Bankers Meet in Florida.
! The annual convention Of the In.
Vestment Bankers Association Of
America will be held at st Peters
! burg, Fla, beginning next Monday
| approximately 500 representative
leaders in the banking profession.
executives in bond houses stretching
from Maine 10 California, have signi-
! ned their intention to attend
! After the business sessions of the
convention are over, delegates so de
| string will proceed on the steamer
! Northland down the west coast Of
! FLORIDA TO Havana. After two DAYS
! there the members of the party will
return by way of Key West. Miami,
! Palm Beach, st. Augustine and Jack
! sonville to their homes. Stops at all
! these points will be made
As far as is known, Eugene E
! Thompson, head of Crance, Paris &
Co. Of this city and chairman of the
| Federal taxation committee of the as
sociation, will be the lone local dele
| gate.
Southern Railways Surplus.
| Southern Railway has surplus of
| SIT .042 900 for the first ten months OF
| 1925, equal, after taxes and charges.
TO Sl2.12 a share on the $i20.000,0 900
common stock. compared with S13.
| 431 900 or S9.1I a share for the cor
responding period of 1924.
The Illinois Central Railroad today
asked the Interstate Commerce Com
mission for authority to issue S9,2i0,-
/ coo in equipment trust certificates. for
! the purchase of new equipment TO
/ total cost of S1l 500 .00o.
Railroads Boost Earnings.
| Net operating income of Il class one
! railroads which have reported earn
! ings for October. shows an increase
of - per cent over September, and
| gain of 81 per cent over October of
| last year. The total was S131 ,403 900,
| acaiDSt S1o2 1874 600 in October 1924