Evening star. [volume] (Washington, D.C.) 1854-1972, 1949-12-02
D. T.. Postal Receipts
Set A||time Record
DURING November
By Edward G. Stone

By Edward c. Stone
Receipts at the City Post Office
In November were the largest for
any month in the history OF the
Office, Postmaster Roy M. North
announced today.
November postal returns
amounted to $1,655,941 in COM
parison with $1,390,07l, an ad-
vance of $265,870, or a gain OF
1912 per cent, Mr.. North said.
Postal revenues also made q
fine showing in the first II months
of this year when income reached
S17,043,201. This compares with
Sl5,649,161 In the like 1913 period,
an increase of $1.394,040 or 900
per cent.
The record November upturn in
revenues was due to extra heavy
advertising mail, by far the big
gest months since the war. The
Christmas rush has not yet
started, Mr.. North stated.
Airlines Offer Exchange.
Capital Airlines announced to-
day it has put into effect re-
Capitalization plan with the con-
sent of about 80 per cent Of the
holders of $685., 900 OF de-
bentures.
Under the plan. holders Of the
present $1,000 312 per cent con-
vertible income debentures may
exchange them for one series "A"
$500 debenture and one series "B"
convertible income debenture.
Both series carry per cent in
terest. The conversion price for
the common stock under series
"B" is Sill. The old CONVEX
sion price was $38.
j. H. Carmichael. Capital pres
ident, said application to list the
new series "a" and "B" on the
New York Exchange will be filed
tomorrow.
Pepco October Net Lower.
Net income of the Potomac
Electric Power in October totaled
$245,283 against $316,335 a year
ago, q decrease of $7l.052, or %
per cent, 1t was reported to the
Public Utilities Commission today.
Net income in the first ten months
amounted to $3.704,320, an in
crease of $598,080 over last year,
or 10 per cent, as already noted.
Expenditures on the new gen.
Grating station in Alexandria in
the ten months totaled $26, 700 900,
representing an increase in in
vestment of slightly above 20 per
cent over the total Of all property
investment at the end Of 1948,
officials said.
Suburban Bonds Awarded.
The Washington Suburban San
itary Commission has awarded q
100000 bond issue to Phelps,
Fem & Co., Alexander Brown,
Ferris & Co., and other invest
ment bankers.
The syndicate bought the bonds
at par without premium and set
different interest rates according
to dates of maturity. They will
yield from 10 to 2.80% and are
being offered to the public at once.
They include 100000 water
supply bonds. $4,000, 000 for gen
eral construction bonds and $780,
900 for storm drainage. The COM
mission serves Prince Georges and
Montgomery Counties. Maryland.
C. d p. to Spend $4,000.
Expenditures of $4,000 for
telephone construction in Wash
ington have been authorized by
directors of the Chesapeake & Po-
tomac Telephone Co. Most of
these funds will go for under
ground cable facilities in the Du-
pont and Woodley offices. So far
this year, $11.800.000 has been
voted for improvements.
Directors of the Shirlington
Trust Co. have voted a dividend
of so cents per share, payable De-
cember 20 to stockholders Of rec
ord December %. Joseph Cherner,
president, announced today. The
bank also is distributing $2,875 to
employees as a Christmas bonus.
This institution, started in March,
1948, now has deposits exceeding
$5,500,000.
Thomas K. Finletter. New York
lawyer, assistant to Secretary OF
State Cordell Hull from 1941 to
1914, has been appointed mem
Der of the Executive Committee of
the United States Branch of the
Employers Liability Assurance
Corp, Ltd, to succeed the late
Charles D. Hilles.