Evening star., 1949-03-15
New Revenue Peak
Revealed by Pepeo
In Annual Report
By Edword G. Stone

tomac Electric PoWer GO. ana lCS
wholly owned subsidiary. Brad
dock Light g. Power Co.. Inc,
amounted to $32,636.756. accord
ing to the company's annual re-
port released today. They were
the largest in the company's his
tory and 81 per cent higher than
in l947.
Total costs. including amounts
needed for interest and preferred
stock dividends were $29. 9.224, ,855.
an increase Of 81 per cent over
l947. A balance Of $3.411.90l was
available for common stock and
surplus. Based on 1851 $50 shares
Of common stock outstanding, the
balance amounted to $l.52 per
share. on which dividends Of 90
cents per share were paid to ap-
proximately $4,000 common stock
holders.
OF the total of 44,323 common
stockholders in December. l948,
20,l35 or 45fo were women and l6.-
337 or 81 were men. The re-
mainder is held by Joint owners
and institutions. OF the common
stock. l.228.006 shares or 42"c. are
held by residents of the District,
Maryland and Virginia.
Aggregate expenditures for new
construction in the flve-year
period. l948-1952. amounting to
S82,246.269, will be required to
meet the anticipated demand for
electricity from customers.
AS announced, the company
plans to issue and sell. subject to
approval of the Public Utilities
Commission. S37.000.000 principal
amount of 3i4 per cent. 20-year
debentures to three institutional
investors. Proceeds will be used
to retire outstanding Bank Loan
Notes. to redeem all Of its out
standing preferred stock and to
meet. in part. the estimated con-
struction requirements of the
company and its subsidiary in
l949.
Stockholders Meet Tomorrow.
Stockholders of the National
Bank of Washington meet at 11:15
am. tomorrow at the bank to vote
on the offer from the National
Metropolitan Bank to dispose of
their stock at S270 share and the
later offer of a client of Johnston,
Lemon e. Co. of $3.50 per share
for the stock. The Johnston,
Lemon client has not yet been
disclosed.
The National Bank of WASH
fngton is now in its soundest
condition in last 25 years, officials
state. What action will be taken
tomorrow is problematical as the
shareholders have been asked in
the Johnston. Lemon communica-
ton to postpone action until April
8 to give more time to weigh all
angles OF the proposals. They
can delay action or settle the mat
ter at once.
The 140-year- -old bank has no
big stockholders in control, the
stock being unusually widely dis
tributed among the 321 holders.
New Official Appointed.
Saul Greber has been appointed
vice president and sales manager
of Southern Wholesalers. Inc. of
Washington, William J. O'Connor.
president. announced today. He
was recently with Columbia
Wholesalers, Inc, and has had 20
years experience in the electrical
appliance business.
Thomas Campbell has joined the
Washington Office of Merrill
Lynch, Pierce. Fenner & Beane as
an account executive. Francis c.
Hunter, manager. announced to-
day Mr. Compbell attended st.
Johns College at Annapolis, has
a degree of master of business
administration from Chicago Uni
versity and recently graduated
from the Merrill Lynch training
school. He was in the Marine
Corps in the war