Evening star., 1935-01-30
PEPCO DECLARES
USUAL DIVIDENDS
w. R. & {. Votes Quarterly
Payments on Common
and Preferred.
BY EDWARD C. STONE.

Directors of the Potomac Electric
Power Co. have declared the regular
quarterly dividend of $1.371a per
share on the corporations 51a per
cent preferred stock, payable March
/ to stockholders of record February
Is. The board has also voted the
usual quarterly dividend of $l.50 per
share on the per cent preferred
stock, this, too, being payable March
to stock of record February Is.
Directors of the Washington Rail-
way & Electric Co. have declared the
quarterly dividend of SO per share on
the common stock, the payment be-
ing due March l to shareholders of
record February 16. At the time the
board voted the regular quarterly
dividend of SIPS share on the
company's preferred stock for the
present quarter and also for the Sec
ond quarter.
The first Railway & Electric pay
ment is due March l to shareholders
of record February 16, while the second
disbursement will be made on June
to holders of record May IS.
Washington Railway & Electric COM
mon stock has been on IL per cent
basis for some time after paying 7 per
cent over long period. In 1884 the
stock paid SITS in the first quarter
then went on the higher basis. With
the declaration of a special $40
dividend last March. the stock paid
total of $30.75 during the full year.
The stock at present is the highest
priced issue on the washington Stock
Exchange. the bid price standing at
$295, with none offered for sale. The
last sale last year was made at S3l5
a share, while the 1884 high mark
was 1920 share.
Sees Real Recovery Gains.
F. George Clendaniel, president of
the District of Columbia Life Under
writers Association, reports that the
national increase of 10l per cent in
new insurance written in 1884 over
1888 was the first advance during a
depression year over a previous year
He considers the showing an excellent
indicator that recovery is really on its
way, at the same time rejecting grow
ing confidence in life insurance.
Last year. he adds, insurance COM
panieS diSburSed to policyholders and
their benefciaries, S2,700 900, 900 in the
form of death payments, matured
endowmentS, annuities, dividends, sur
render values and disability benefits
Over $1,000, 100000 of this was paid
to living yholders-exactly two
thirds of the entire amount.
With this payment the total paid by
life insurance companies to policy
holders and benefciarieS in the six
year period of the depression, 1929
1884, amount to more than S15,700,-
000,000
For the second successive year, Mr..
Clendaniel says. policy loans declined
during 1884. There also has been an
increase in repaymentS on policy loans.
The explanation is that policy holders
are striving to clear up Indebtedness
against their policies so as to preserve
their protection and investment values.
Market Advance Forecast.
In looking at the future of the finan-
cial markets, j. C. Bache g. Co., New
York Stock Exchange firm, notes three
retarding factors-lack of demand for
commercial bank loans, restrictions Of
the securities act and an unbalanced
Federal budget.
AS offsets to these factors, the brok-
erage firm points to nine favorable re-
covery points. They include excess
bank reserves and credit expansion
possibilities, easy money rates, demand
for new investments resulting from
corporate redemptions, high level of
bond prices as an aid to new financing,
tendency of Securities Commission to
facilitate new financing, direct loans
to industry by the Federal Reserve
Board and Home Owners Loan Corp.
held in general mortgage field and re-
organization of many bankrupt enter
prises.
Other factors bearing on the out
look are included in brochure which
is available in the brokerage office in
the Washington Hotel.
S36,O0O,O00 in House Loans.
Loans for home modernization and
repair, insured by the Federal Housing
Administration, reached on January 25
a new high level of $4,000, represent
ing $36000,000 the Federal Housing
Administration headquarters reported.
A Nationwide survey of banks de-
veloped the unanimous opinion that
the modernization credit plan was re-
leasing new credit that would not 9TH
erwise have been requested or avail
able, officials declared, adding:
Many thousands of modernization
Jobs financed under Title I (referring
to modernization and rehabilitation
and by other means would not have
been undertaken and the properties
would have remained unimproved in
definitely but for the facilities of and
the example provided by F. H. A."
Cleaned in Financial District.
Capital Transit stock figured in two
small sales on the Washington Stock
Exchange today, one at 26 and the
other at 1884. The stock closed with
2512 bid and 26la asked. This was
the only stock to appear on the board
and bonds were entirely neglected.
The exchange has new sheet for
reporting sales and quotations. It is
very attractive form and presents all
the dividend information as well as
the quotations and sales records.
The preliminary report of the Nor
folk g. Western Railway for 1884
shows net income Of $40 0,280, ,181 after
taxes and charges, equal, after divi-
dends on the per cent preferred
stock, to $13.76 a share on the COM
mon, against $3.50 on the common
in 1888.
w. w. Spaid. partner in w. B.
Hibbs & Co., brokerage firm, is taking
a short vacation ct St. Augustine,
Fla. A snapshot taken near the 'foun-
tain of youth" indicates he is much
younger than when he left Washing
ton.
The 1884 New York Stock Exchange
year book has been received by men,
bers in the financial district. 1t came
off the press Monday.