Evening star., 1949-10-04
Pepco Common Keep!
Lead in Activity on
Capital Exchange
By Edword c. Stone


mon again was by far the most
popular stock traded on the Wash
ington Stock Exchange in Sep
tember, officials announced today.
The stock figured in a turnover OF
1O,939 shares.
Trading in all issues on the ex-
change reached 20,705 shares, an
active month following the sum-
mer seasonal modest decline. Next
to Pepco common, Virginia Elec-
trio g. Power common stock out
with a turnover of 1914 shares.
Washington Gas Light common
registered sales Of 1.405 shares,
Capital Transit, 337; American
Telephone, 258; Hecht common,
sos: Woodward & Lothrop COM
mon, 2S3. Garfinckel preferred
stocks and Potomac Electric pre-
ferreds were in excellent demand.
Bank stocks were quiet.
d. C. Postal RECEIPTS Rise.
Receipts at the City Post Office
in the first nine months of the
year registered gain OF 8.7l per
cent over the like 1948 period
Postmaster Roy NJ. North an
nounced today.
Revenues so far this year totaled
s12,74S,814 against s12,647 ,240 in
1o48, a substantial increase OF
$1.101.574, Mr.. North said.
September postal receipts came
to $I,472,752, compared with ST.
430,113 a year ago. an upturn OF
s42,639 or 2.98 per cent.
The September returns also
exceeded the August total OF
$1,443.213.
Miller Fur Store Opens.
1sadore Miller, owner Of Miller S
Furs. officially opened his new
store at 1921 G street NV. today
after being located at 1895 for
many years.
The Miller firm. in business for
q years. received host OF con-
sratulations today. The new
store, which has all the latest
appointments, presented a hand
some appearance with many flow
ers from business associates add
ing to the general effect.
A large staff was on hand to
greet customers and old friends
in the new quarters.
More Advertising Urged.
"There is no reason why you
can't advertise securities in the
same way you advertise breakfast
foods and automobiles" Louis
Engel, advertising manager OF
Merrill Lynch, Pierce. Fenner d
Beane, the Nations largest bro
kerage firm, told the Advertising
Club at the Statler this noon.
Brokers can no longer depend
on doing business with just a
handful OF the rich and flnan-
cially literate. They've got to do
business with John Jones and Bill
Smith in language they and their
wives can understand he said.
The speaker blamed the brokers
mainly for the failure Of the pub
lie to buy stocks in the last three
wears when they have been yield
ing 7 and 8 per cent. To produce
new capital, middle income peo-
ple must be induced to invest idle
funds.
He said special advertising by
his firm had produced remarkable
results among people never before
interested in stocks or bonds.
Realty Bonds Inch Higher.
Real estate bonds inched higher
again last month, the Amott-
Baker index being 1.6 per cent
above the August close. The aver
age price per 1000 on September
80 was s752.
Ferris g. Co. is participating
with the First Guardian Securities
Corp. in one of the first public Of
ferings in the American market OF
securities of an Israeli corpora
ton. The offering consists OF
American certificates for 100000
shares of common stock OF Pales-
tine Cotton Mills, Ltd. at $4.25 a
share.
Cal D. johnson, an ex-memoer
of Congress from Illinois. addressed
the Washington Automotive Trade
Association on current subjects
at a dinner meeting at the Carlton
last night. Oldsmobile dealers
were the hosts.
Bank Earnings On Increase.
National banks in the United
States reported net operating
earnings of S378.000,00o for the
half year ended June 80, an in
crease of s23, 900 900, Controller OF
the Currency Preston Delano an
nounced today.
There was an increase in gross
earnings of S57 7.000,0 900. Net profits
showed an annual rate of 856
per cent of capital funds, COM
parsons in exact figures being
omitted because of changed meth
ods in accounting.
National banks in the District
reported net operating earnings
of s2,492,000 against $2,180,0O0 in
the same 1948 period. Operating
earnings were up IA per cent.
Special Committee Named.
Jac Lehrman, j. Harvey Daily
and A. Klompus of Giant Food
Shopping Center. Inc. have been
named to the Reception Commit
tee for the annual meeting OF the
National Association OF FOOD
Chains to be held here October
1915. About 1000 executives
from $500 food stores are ex-
pected.
Chesapeake Chapter. Robert
Morris Associates of Washington
and Baltimore, will open the sea-
son at the stratford Hotel in
Baltimore .on october 10, with
Nicholas j. Murphy of the Chase