Evening star., 1950-02-03
DC. Exchange Volume
Reaches New Hiqh;
Pepco Still Leads
By Edword c. Stone

BY EdwoFd c. Stone
Trading on the Washington
Stock Exchange in January
reached 25,486 shares, compared
with 20,246 in January, 1949, and
two shares more than changed
hands during the record month
of February a year ago, when
sales totaled 25,4s4. Sales ex-
ceeded December by more than
5000 shares.
Potomac Electric Power, which
has just hit a new high of 16A,
again led all other issues in ac-
tivity, 13,476 shares changing
hands during the month. This
was the biggest trading month
since last May, when transfers
totaled 15,437 shares.
Capital Transit stood second in
volume of sales, with 2,342 shares
being sold during the month. The
stock. which had been quiet for
a long time, became exceptionally
active. There were hints that
out-of-town buying had quite a
bit to do with total sales.
Virginia Electric g. Power COM
mon again stood out, sales amount
ing to 1870 shares. Sales of
Washington Gas common totaled
1922 shares while Garfinckel
412% preferred saw turnover of
1,415 shares. Many other issues
were in strong demand. Bonds
were more active.
De Pima Firm Reorganized.
The A. De Pima Co. of New
York, which has just been taken
over by Garfinckel & Co., is being
reorganized, a new Board of Di-
rectors being elected yesterday.
The new directors include Rich
ard P. Dunn, Elizabeth Fairall,
James M. Johnston, William E.
Schmid, Wilson Hatch Tucker and
John C. Wood. The former board
resigned. C.. L. Waddell continues
as a director.
Roy Foster resigned as preSi-
dent, the other officers taking
similar action. The directors then
elected John c. Wood. president;
Elizabeth Fairall, vice president;
T. A. Eliason, treasurer. and w. H.
Tucker, secretary.
Mr.. Wood, the new president,
is also president of Brooks
Brothers, and a Garfinckel di-
rector. He is chairman of the
directors of the Better Business
Bureau of New York. Miss Fair
all, vice president, is vice presi-
dent and director of Garfinckel
& Co.
Ford Controller Honored.
Clarence I. Poore, resident con-
troller OF the Ford Motor Co.,
yesterday was honored upon
completion of 80 years service
with the company.
Howard w. Cook, Washington
District sales manager, presented
him with a 30-year gold service
pin at a ceremony attended by
members of the auto company's
Washington staff.
Fred S. Gichner has been elect
ed head of the iron works bearing
his name for the SID time. Henry
Gfchner was named vice presi-
dent and general manager; Joseph
Blumenthal, secretary-treasurer.
and Allen G. Stern, assistant
secretary.
Sixty sales representatives of
Southern Diaries. Inc, met at the
Hamilton Hotel today to consider
the 1850 sales and advertising
programs. George Smith and
Wayne Tyler presided.
j. v. Doll, for 20 years with the
Texas Co., has joined Mack
Trucks, Inc, as vice president and
special assistant to H. w. Dodge,
executive vice president, it was
announced here today.
Nees District Chairman.
Bernard J. Nees, partner in
Johnston, Lemon & Co., has been
named District chairman of the
Southern group of the Investment
Bankers Association, by Chair
man Joseph w. Senner of Balti-
more. Mr.. Nees is a former presi-
dent of the Washington Stock
Exchange.
Bond Sales Aid Thrift.
Hugh Lynch, director. District
Savings Bond division, said today
that Savings Bond sales have been
an aid to thrift in other lines. II
He cited a report made by Sec
retary Snyder which showed that
while Savings Bonds outstanding
have increased by 13 per cent
since 1945, individuals have in
creased their shareholdings in
savings and loan associations by
over so per cent, their life insur-
ance by 80 per cent, their deposits
in mutual savings banks by Is
per cent, their savings accounts in
commercial banks by Is per cent,
their checking accounts by about
10 per cent and their postal saw
ings accounts by 10 per cent.