Evening star., 1949-09-13
Pepco Sales Reflect
Brisk Business in
CAPITAL Suburbs
By Nelson M. Shepard

BY Nelson m. Shepord
Total sales of the Potomac Elec-
trio Power Company continue to
reflect the brisk upsurge OF bust
ness in the growing suburbs OF
Washington. the August sales OF
193,354,442 kilowat hours being
8.79 per cent above the comparable
figure of a year ago.
The controllers report today re-
vealed that the increase IN sales
to users of electric power IN the
suburban areas was 1897 per cent
compared with $50 per cent within
the District of Columbia. This has
been q considerable factor IN i'm
proved business for a long time.
Kilowat-hour sales in the Dis
trict totaled 162,324,315 for
August, an actual increase OF TO-
473,463 hours over August OF 1s4S
outside the District users bought
3o,s70,127 XVIII, rejecting an in
crease of 5,154,979 XVIII.
Railroads and street railways
are the only users doing less busi-
ness with PEPCO than heretofore
AS more Capital Transit buses
were added during the year anc
electric lines abandoned, sales te
transit users decreased 1885
per cent compared with August
of 1948.
Transit Group Borr0ws.
American Security g. Trust Co
has loaned $1,25o,000 to the Wolf
son group who have gained stock
control Of the Capital Transit Co.
Daniel w. Bell. president. con-
firmed today.
The loan was consumated yes
terday, the same day that control
of the railway company passed
formally into the hands Of Louis
E. Wolfson and his eight Florida
associates.
The trust company's loan was
made at 3 per cent interest. 1t was
made on a personal note OF Mr.
Wolfson, Endorsed by each OF the
eight other associates, secured by
CAPITAL Transit stock as collateral
and payable within II months, Mr'
Bell said.
Land Banks Sell Bonds.
The IL Federal land banks to-
day are offering publically through
Macdonald G. Newcomb, their
fiscal agent, s215.O0o.ooo Of Fed
eral farm loan bonds bearing in
terest at 134 per cent, at a price
of 100A per cent and accrued in
terest. They are dated October
1, 1s49. due october l, 1857, and
callable October /, 1855.
Net proceeds from the sale will
be used to retire approximately
$500, 900 Of ~ per cent con-
solidated Federal Farm Loan
bonds of October 1, 194s-50, and
to provide $50, 100, 900 for repay
ment Of commercial bank borrow
ings and for lending operations.
Lanston Forms Firm.
OF interest in Washington
financial circles was the recent
announcement that Aubrey g.
Lanston, formerly of this city, has
formed the investment flrm OF
Aubrey G. Lanston & Co., Inc. In
New York, to deal primarily in
United States Government. State
and municipal securities. The
company will open offices at Is
Broad street.
Other officers Of the firm in
clude Leonard M. Horton. vice
president and director. and
John D. c. Towne. jr. Philip D.
Holden and Leroy M. Piser, vice
president. The company will
have a starting capital Of 81 AGO.
600, and other than Mr.. Lanston
the principal stockholders will be
Archibald r. Graustein. formerly
president of International Paper
Co., and William Rosenwald, son
of the late Julius Rosenwald, who
was president and chairman OF
the board of Sears Roebuck 81 Co.
Mr.. Lanston was born in Wash
ington. He resided here many
years and is a grandson OF the late
Tolbert Lanston. District OF
Columbia inventor, who invented
the monotype machine and found
ed the Lanston Monotype Machine
Co.
Since 1929 the grandson has
been associated with the First
Boston Corporation except in 1894
when he was loaned to the United
States Treasury as technical as
sistant to the Secretary in con-
nection with the Treasury deficit
financings OF that period.