Evening star., 1949-09-22
$3.50 More Shares
Of Pepco Acquired
By Capital Holders
By Nelson IA. Shenord


A Potomac Electric Power Com
pany report today on distribution
of its common stock disclosed that
%, $50 additional shares have been
acquired in the District of Colum-
bia from June 6 to September 7,
boosting the number Of individual
Washington owners by 224. VS.
Since the redistribution of the
majority stock formerly held by
the North America Company
Pepco has been the most active
stock on the Washington Stock
Exchange and reports continue to
reflect the commanding position
the District now holds in common
stock ownership. The District
ranks first in the amount of stock
held here, 1,249,870 shares as of
September 7. but it still holds
second place in the number of
individual shareholders, its figure
of 6.697 comparing with New
York's 1882. However, the amount
Of stock held in New York is 700,-
986. which continues its second
place.
Pepco common stock ownership
In Maryland increased by 1O7
holders and 22,322 shares during
the period accounted for. In Vir-
ginia the shareholders increased
by IS but there was reported q
decline Of 526 in the number of
shares. 1t is interesting to note
that the three combined areas, re-
ported an increase of 40 9,946 shares
of stock held by 366 additional
owners during the three months
period.
A total of 3.553,5O0 shares of
Pepco common were being held
throughout the country on Sep
tember 7 by 42,146 shareholders.
This was an average of 84.31 per
holder nationally. compared with
an average of 1868 in the Dis
trict.
Virginia Sets High Mark.
Virginia achieved 1885 per cent
Of its quota Of $i6,100,000 in the
recent United States Treasury
Bond Drive, a tabulation discloSes.
During the period $18.269,0 900 in
Series E bonds were sold in the
Old Dominion which placed the
State 10Th in the total amount of
bonds sold.
The Virginia Bankers Associa-
ton, reports that the West Vir-
ginia Bankers Association indorsed
the candidacy of c. Francis Cook,
Richmond banker, for vice presi-
dent of the American Bankers As
sociation in 1850. Minnesota took
similar action last June.
The Northwest Branch, Alex
andria National Bank, and Mount
Vernon Avenue Branch. Citizens
National, have joined the Virginia
Bankers Association. The First
National Of Strasburg has adopted
the associations retirement plan.
Houston Bond Offered.
Folger. Nolan & Co. of WASH
tngton is in the syndicate headed
by the National City Bank of New
York. successful bidder to handle
q $12,000,000 bond issue for the
city Of Houston, Tex. due from
November /, 1850 to 1879. No
other Washington investment firn
Is participating. .
For the third. consecutive year,
United Air Lines has been granted
an oscar Of Industry" by Finan-
cial World Magazine for having
the best annual report of any do
mestic airline in 1948. More than
4.500 corporations in 100 different
industrial classiflcations submitted
annual reports in the recent con-
test.
Southern Oxygen Dividend.
Directors of the Southern Oxy-
gen Co., Inc, of Washington, have
directed payment on September
80, regular dividend of so cents
q share on common stock to stock
holders of record Ceptember 20.
The District of Columbia Agents
Insurance Association will hold its
monthly luncheon meeting on
September % at the Mayflower
Hotel. The meeting will be ad-
dressed by E. H. Luecke, superin-
tendent of the Casualty Produc-
tion Division of the Fidelity and
Casualty Co. of New York.
National Airlines will offer the
first low-cost coach fares by sched-
uled airlines on the Eastern sea-
board between New York, Wash
1ngton, Jacksonville and Miami,
c. +. Baker, president, announced
today. Coach flights will begin
November l, with 56-seat-4-engine
DC-4passenger planes.
The coach fare will be 4 cents
. mile, q saving compared with
the present rate of 6.175 cents per
mile. This will provide a Wash
ington-New York fare of only So
compared to the present fare of
$l3.40. Washington Miami fare
will be $3.50 as against $62.30.
Mr.. Baker said National Air
lines was convinced of the need
for low-cost air transportation
operated under strict government
rules Of safety.
{. Mewellyn M. Bond, formerly
. member of the sales staff of
Group disqualification, Inc. in
Washington, has become asso-
ciated with the firm of j. D.
Marsh & Associates of this city.
He is q Chicagoan.
Florists Win Award. ,
The Society of American Flor
lists. with offices in Washington
and headquarters in Chicago, has
just won Best of Industry award
in the field Of retail trade asso-
Citations from the District Mail
Advertising Association, which
met this week in Chicago.
A membership campaign plan
ned by Troy M. Bodlum, WASH
tngton advertising consultant, won
this national award by using d.
rect mail in cooperation with
trade neWSpaper and maoozinr