Evening star., 1950-07-07
Pepco Common Sets
Record in June With
Turnover Of H,5O4
By Nelson N. Shepard

py I<6tSOn NJ. SHepoIo
An upsurge Of activity in Po-
tomac Electric Power common
stock established a record June
turnover of 29,504 shares on the
Washington Stock Exchange. it
was reported today. The total
was 1877 shares ahead OF June
last year and 6,666 shares over
the total for May.
Sales of Pepco common for June
totaled 17.464 shares for one OF
the most active months of the
wear. The increase over May sales
was 6,925 shares. The final quo
tation of 1434 compared with a
high of 1873 and a low OF 149s
for the month.
Capital Transit common
dropped off a bit fro mearlier
heavy buying after stock control
of the company changed hands.
June sales of 1,752 shares were 466
shares under the May total. The
final quotation was 81, two points
under the high for the month. At
It's lowest in June the stock sold
at 231a.
Gas Light Fares Well.
WASHINGTON Gas Light common
Jared well with a turnover OF
1852 shares, an increase OF s55
shares over May. The stock
ranged from low of 24A for
the month to high of 27la. The
last quotation was 26A. Car
finckel, with 985 shares OF COM
mon and 1,405 shares OF 4f2 per
cent preferred stock, and Peoples
Drug Stores, with LAO shares OF
common, were the most active
stocks outside the utilities.
A decline of approximately l
per cent in net sales was re-
ported today by Peoples Drug
stores, Inc. for June and the first
six months of this year as COM
pared with the same periods in
1949. During June, however, the
chain operated 141 stores. one less
than in June last year.
Treasurer w. H. Churchill said
net sales last month totaled $3,-
727,931.18, a decrease Of $38. .164.73
or / per cent under June, 1949.
For the first six months Of this
year, Peoples net sales totaled
S22, ,270,985.14. This was $311,-
399.83 or IA per cent under the
net Of year ago for the same
period.
Cannon Gets Diploma.
Allen H. Cannon. controller Of
Anacostia National Bank. has
completed the course at the
School of Banking at Rutgers
University. He is the first of the
banks staff to receive a diploma
this year but two others, Robert
K. Koontz, jr., and John M. Har-
ris, assistant cashiers, will attend
the School Of Banking at the Uni
versity of Wisconsin in Septem-
ber. 81
Mr.. Cannon is one Of the best
known and best liked bank con-
trollers in Washington. He COM
pleted 80 years Of continuous
service with Anacostia Bank last
socony-vasuum on CO. Of
New York has announced the ap-
pointment Of Rear Admiral
Thomas j. Kelly, retired, as as
sistant to the chairman of the
corporation. Admiral Kelly was
a roustabout in the oil fields be-
fore he entered the Naval Acad-
emy from which he was graduated
in 1920. He is also a graduate
petroleum engineer from the Uni
versity of Pittsburgh.
American Airlines today
claimed several all-time travel
records over the past week end
and during June. Friday before
July 4. the biggest day In the his
tory of this company. set a new
industry record with 7,005. 900
passenger miles on its regular
flights and extra sections. The
previous record, made last June
IA, was 6,615. 900 passenger miles.
With more than three-fourths
of it's available seats sold, officials
said the airline exceeded all
monthly June records with total
of 1874 million passenger miles
flown.
Air Travel Increases.
Reports from many cities on
Am erican's trans-continental
route indicate new highs in air
travel over the July 4 holiday.
1t was q record week end in the
number Of passengers carried by
the line out of New York, Wash
ington. Dallas and Los Angeles.
C. r. Speers. assistant vice presi-
dent and general sales manager,
attributed this demand for air
seats to the continued high level
of business activity and an in
crease in salaried vacationists.
Increases in the number of pas
sengers ranged from S to 80 per
cent in the larger cities.
Mr.. Speers also credited the
new service offered by the DC-6
Blue Ribbon aircoaches with in
ducing greater travel. These oper-
ated over the trans-continental
route with extra sections.