Evening star., 1950-08-23
Bank InstaIIment Plan
Lets Little Man Buy
Pepco Common Stock
Bv Edword c. Stone

A novel thrift plan through
which Potomac Electric Power
common stock may be purchased
by people of moderate means
through monthly payments to a
bank, was announced today by a
local investment firm.
The Capital Reserve Corp, Du-
pont Building, has issued pros
pectus outlining the idea which
is called 1.-THE Potomac Plan"
For the systematic accumulation
of Pepco shares, payments are to
be made monthly to the Hamilton |
National Bank which is custodian
of fund Of 100000 deposited
by the investment firm to meet
SEC requirements.
The bank buys the stock in the
amounts desired, records the
monthly payments and has the
stock transferred to the buyer
when it is paid for. Income from
the stock is added to the pay
ments. The least amount to be
invested is $40 a month.
The president of the SPONSOR
ing firm is Charles r. Connolly,
for % years in the investment
business here and during the war
an executive officer of the Army
War Bond Council. He believes
his plan will keep a large amount
of money invested here that might
otherwise be invested elsewhere.
Many people don't buy stock be-
cause they can't get enough money
at one time to pay for it, he adds.
Potomac Power common is al
ready owned by 10000 investors in
the Washington area.
Advertising Firm Formed.
Organization of the public rela-
tions and advertising firm OF On
slow & Brown was announced in
Washington today with Offices at
1923 Connecticut avenue NV. The
new firm represents an expansion
of Walter Onslow 81 Associates.
Partners in the new firm are
Walter Onslow, president. and
Earle p. Brown, vice president OF
the parent firm. The original
firm already has large number
of clients in public relations ac-
tivitieS.
D, C. Benefits, $6,496,000.
Life insurance death benefits
paid in the District Of Columbia
in the first half year amounted to
$6.496, 900 on 7,017 policies, the
Institute of Life Insurance report
ed today. Maryland benefits to-
tailed $13,573.000 and Virginia's
$12,582, 900.
The Fitch Investors Service, dis
tributed by Gilbert j. Rowcliff's S
office in the Union Trust Building.
says it is not expected civilians
will feel the squeeze Of Korean
hostilities much, except in taxes
and a moderate rise in the cost Of
living. Price and wage controls
are not expected. nor rationing at
this time. Credit will be curtailed
If voluntary curbs are not effec-
tive.
Imitation Is Top Problem.
Economically our chief domestic
trouble is imitation, a folder just
distributed by Merrill Lynch,
Pierce, Fenner & Beane asserts.
The brokerage firm urges that
these steps be taken at once:
Cut all unnecessary Govern
ment spending; cut all public
works not absolutely necessary;
use strict controls over consumer
and real estate credit; substitute
normal and surtaxes for excess
profits taxes; use price and wage
controls; and raise personal in
come taxes:
Safeway Sales OF Slightly.
Net sales of Safeway Stores in
the "a weeks ended June IT
amounted to $491 All 1858 as COM
pared with $518,702,572 in the
like 1949 period. This was equal
TO $2.19 a common share this year
and $2.53 a year ago.
Safeway Stores now operates
1875 stores in the Washington,
Maryland and Virginia areas, with
1910 stores throughout the Nation.
Capital Transit stock sold up
to 38 on the Washington Stock
Exchange today, new high, on
q 25-Share transfer. The stock