Evening star., 1951-07-18

1lVe years WITH AMOUNTS ranging
from $40 to $3.50.
Charles r. Connolly, president
Of Capital Reserve, sponsor of the
plan, reported that lover 11,000
shares of Pepco have been ac-
cumulated and are held in the
trust department of the Hamilton
National Bank for Planholders. )"
Capital Reserve expects this figure
to pass the 10000 share mark in
the next twelve months.
Among planholders are mer-
chants, professional men. Govern
ment and union officials, statesmen,
nurses and others now accumu-
lating Pepco month after month
for future income.
AS custodian Hamilton National
handles all moneys, purchases and
safekeeping Of shares, collection
and reinvestment of dividends,
ETC., in its trust department.
Gas Light Sales Above 1850.
Washington Gas Light Co. sales
in June totaled 10,902, ,952 therms.
a gain of TIL per cent from TO-
17S,797 in June, 1850, the COM
pany reported today. The months
sales represented a seasonal drop
from 14,908,214 therms in the
previous month.
Company sales in the first six
months of this year rose to 1885,
720,478 therms, an increase OF
21.75 per cent from a year earlier.
Both June and the six months
sales were the highest on record
for those periods.
The company's So million issue
of 312 per cent refunding mort
gage bonds reached the market
late yesterday when the Securities
and Exchange Commission cleared
the registration statement. The
bonds are being marketed by a
New York group headed by Kuhn,
Loeb g. Co. at 100.665 to yield
the purchaser 3.46 per cent.
Housing Bonds Offered.
Three Washington investment
firms participated with the ma
tional syndicate which swept
practically the entire field yes
terday in bidding successfully for
$155.739.0 900 Of the $171 .319 .00C
in new tax-exempt public housing
bonds. They were busy taking or.
ders today subject to allotments
The books close at 5 pm.
The firms participating with the
syndicate headed by Blyth & Co
and Lehman Bros. are Folger. No.
Ian, Inc, Robert c. Jones q Co
and Mackall & Co. They reported
orders as brisk. The issues were
put up for sale by 81 local hous'
ing authorities in 81 states. TIL,
Washington bonds will not b,
put up until fall. it was reported
The remaining bonds not takel
up by the syndicate will b.
handled by banks.
The bonds were offered to- yielt
from LOS per cent for those ma
turing in 1852 to 2.25 per cent TO
those due in 1892. The bond
will be exempt from Federal take
and in many instances will b,
free from State taxes.
Adds to u. S. Bond Holdings.
Hamilton National Bank in
creased its holdings of Federal Sc
curities $1,952.640 between tn,
April 9 and June 80 bank calls, de.
spite a decrease of $1.417.094 il
deposits, the statement Of condi
ton showed today.
Holdings of Federal securities
on June 80 totaled SAC, ,915, ,407
while deposits amounted to $97.
$50, $50.
Cash items totaled $23 GOT ,067
down $2,461. 1871 since April ant
loans Of $31 .093, ,985 were dow
$680.157. Total assets of $l04,
002,320 were 81. .209 ,309 lower, bu
undivided profits Of 81, ,198, ,628 wer
up $82.644.
Included in the loans were SIS,
380,096 of secured loans payabl
on demand, down Sill ,327: ST,
177.740- of secured loans wit
definite maturities, down $437 .793
$18,338,091 Of unsecured loans an
discounts with definite maturitie'
up $190.589. and Sc, 198, ,059 of res
estate loans on first mortgages
down 1921, ,626.
Air France today opened a ne
Office at 1918 K street NV, lates
result of its expansion program
Dedication will be marked by
reception from 6 to 8 pm. 1
which Ambassador Henri Bonns
of France and Mime. Bonnet wi
be the guests nf h0y10F