Evening star., 1949-11-09
Pepco Common Keep!
Lead in Activity on
Capital Exchange
By Edward c. Stone

oy 6oNoIu ~ StOHe
Potomac Electric Power COM
mon stock continued to be by far
the most active and popular issue
in trading on the Washington
Stock Exchange during October,
officials reported today.
The turnover of 9,207 shares
compared with 10,s39 in Septem-
ber and 1887 in October a year
ago. The yield, price strength,
type Of management, future pros
poets, present earnings and rec
concentrations by many invest
ment dealers are given as the
chief reasons for the stocks ac-
tivity.
Second in the October volume
list came Virginia Electric & Pow
er common, with q turnover of
4,823 shares. Washington Gas
Light common registered sales to-
falling 2.125 shares. American
Telephone witnessed sales of $40
shares. the blue chip issue being
constantly In demand.
Capital Transit sales involved
929 shares: Garf1nckel common,
$40: Woodward g. Lothrop COM
mon. 514; Hecht common, 1856:
Peoples Drug. 425. and American
Security g. Trust, 300. Many
other issues appeared on the
board in trading that totaled 21,-
500 shares against 20,705 in Sep
tember.
Trust Company Tops Gains.
The American Security & Trust
Co. showed the largest deposit
gain, $780, 900, of any Washing
ton bank between June 80 and
November /, the controllers con-
dition call revealed. Its neighbor
up the street, the Union Trust Co.,
registered an upturn of $500, 900.
The Hamilton National re-
ported an advance Of $4,000, 900,
with total deposits just over $685.
100000. The National Capital
Bank reported an increase of ST.
642,912, an exceptional upswing
for q bank with deposits of $13.-
526.163. Liberty National deposits
were 81 .809.360.
The National Bank of Washing
ton caught up with the National
Metropolitan in total deposits,
through its increase of about $751;
100000 since June and a sensa-
tional advance Of $31 ,29s,0 since
January /. Offlcials still remain
silent on the institutions new con-
trolling interests.
While total deposits in all the
banks disclosed an aggregate up
turn Of more than SIS 100000 in
four months, the total is now $14,-
29s,561 lower than on December
80.
Riggs Declares s. Extra.
Riggs National Bank directors
yesterday declared special divi-
dend Of So per share. payable De-
cember Is to stockholders of rec
ord November 30, Robert v. Flem-
ing. president. announced. The
action was taken in view Of the
excellent condition of the bank
and satisfactory earnings for the
year 1949 which has enabled the
bank to add substantially to sur
plus, Mr.. Fleming added.
Following the 10th annual meet
ing Of the shareholders of the
Equitable Cooperative Building
Association, Walter S. Pratt, jr.,
was elected president for his 18th
term. He is now starting his 50th
year with the firm. Other officers
are Charles H. Doing, vice presi-
dent; Edward L. McAleer, secre-
tary: Milton r. johnson and John
P. Bircl1by. assistant secretaries.
Secretary McA1eer reported to-
tai assets of $12,531.l6B. with an
increase in new share accounts Of
$780, 600. making the total $l1,-
324,776. Shareholders elected Ar
thur B. Heaton, F. C. Bradley and
Messrs. Pratt and McAleer to three
year terms as directors. Other di-
rectors are Ralph P. Barnard, C..
H. Doing, Richard F. Green, AL
fred H. Lawson, r. L. Lewis, F. j.
Stryker and w. L. Townsend.
Honors for Tom Brahany.
Thomas w. Brahany, veteran of
the financial district, will be hon.
ored at dinner by the Friendly
Sons OF st. Patrick at the May
flower Hotel tomorrow night. Mr..
Brahany, now an executive in the
Washington Office of Merrill
Lynch, Pierce. Fenner g. Beane. is
. former president of the organ
ization and widely known for his
brilliant ability in writing songs
and humorous skits.
Mr.. Brahany is a former news
paperman and was at the White
House many years ago as an as
sistant secretary to Presidents
Taft and Wilson. At present he
Is Q member of the District Un-
employment Commission Board.
The Used Car Dealers Associa-
ton of Washington will honor its
past officers at dinner meeting
this evening at Hotel 240o. Joseph
Silverstone, president, will preside.
Colonial Airlines has cut inter-
national cargo rates between
washington, New York and Ber-
muda 20 to 10 per cent.
Washington Gas Light earnings
will profit substantially by today's
increase in rates.