Evening star., 1951-08-02
Stock Exchange Sales
Gain Sharply in July;
Pepco Leads Trading
By Nelson M. Shepard

Trading on the Washington
Stock Exchange gained such
momentum in July that stock
sales SCARED to 23,5S4 shares, ex-
ceeding June by 8,o64 and the
greatly accelerated. May sales by
nearly 1000 shares. Increased &C.
tivity in Potomac Electric stock
accounted largely for the upturn
in trade.
Sales in the leader, Pepco COM
mon, jumped to 17,427 shares
from 9,328 for June. and just
about evened with the Pepco sales
in May. Pepco closed the month
at 1871, up one-eighth from the
month earlier.
Washington Gas Light common
was second in July activity with
1882 shares traded, a decline
from 2,036 shares in June. It
closed at 251a, up three-eighths
from the month earlier. Third on
the trading list was Virginia Elec-
trio and Power Co., with 1,349
shares traded in common. The
company rated fourth in June.
It closed at 81, up one-half from
May.
Department store stocks picked
up slightly in the trading.
Seventy-five shares Of the Hecht
Co. common changed hands,
whereas in June no sales were re-
corded. 1t closed the month at
32h. Garfinckel & Co., with ATS
sales of common, closed at 1914,
showing no change. Woodward g.
Lothrop, with 233 shares Of COM
mon traded, closed at 32A. It
was down u.
There was little activity in bank
and trust company stock during
July.
GEL Sets New Record.
Government Employees Insur-
ance Co. set new high record of
$4,502, ,419 in premiums written for
the first six months of 1851, a
gain Of 11.40 per cent over the
$4,041, ,689 in the 1850 period,
President Leo Goodwin reported
today.
The number of policyholderS
increased from 143, ,944 on Decem-
ber 81, 1850, to 152.s27 on June
80, 1851, the semiannual report
informed stockholders. On June
80, 1850, the company had 130, ,967
policyholders. so that the past
year produced an increase of 1877
per cent.
The life insurance department
had $9,526, ,431 insurance in force
on June 80, covering the lives Of
5,829 persons. This compares
with $3,529,000 covering 1878
lives on June 30 a year ago.
The company's net earnings
after taxes dropped from $525 .093
for the first six months Of 1850
to $328,034 for the first half of
this year. The decrease was
caused by the unfavorable loss
experience, which commenced In
the third quarter Of 1850 and
continues, Mr.. Goodwin reported.
Higher taxes and increased ex-
penseS also were factors.
Government Employees Corp, q
subsidiary, made loans Of 1.500,-
546 to 1,441 borrowers in the first
six months of the year. This
compares with loans of 1888, ,051
to 1902 borrowers for the same
period last year. Net profit after
taxes was $34,171, compared with
$1,000 for the first half Of 1850.
Capital Airlines Reports.
Net income of $376,117 was re-
ported by Capital Airlines for
June, largest single month in the
company's history. 1t was re-
ported as 70 per cent higher than
the $218,330 in June. year ago.
The company netted $719,100 or
90 cents share on the outstand-
ing 780,528 shares Of common
stock for the first six months Of
the year, an outstanding per-
Torrance. This compared with
IA cents a share, it was reported,
on the 500 ,205 shares outstanding
last year, conversion Of deben-
lures accounting for the larger
number this year.
Boteler Qualities for Club.
International Business Ma
chimes Corp. today announced
Millard j. Boteler Of its Wash
ington staff had qualified for the
Quarter Century Club Of employees
who have completed Is years Of
continuous comp ny service. He
is a native Washingtonian and
now resides in Georgetown.
Colonial Airlines, for the first
six months of 1851, recorded a
record volume of business, Alfons
Landa, president, reported. Oper-
ating revenues amounted to $3,-
$4,000, compared with 81, 2,445 900
in the same period last year. Un-
audited figures showed net
profit Of $4,000, compared with
a loss of 1922, 900 in the first six
months of 1850.
The Civil Aeronautics Board re-
Gently directed Colonial to show
cause why its airmail rates for
both domestic and international
routes Should not be reduced. For
that reason, the foregoing finance
figures may be subject to revision
upon final decision in the rate
proceedings.
For its summer business, Co
lonial's peak load season, June
revenue of $675,000 reached an
all-time high, compared with
$548, 900 in June last year.
B. & o. Accepts Bid.
President Roy B. White Of the
Baltimore g. Ohio Railroad an
nounced the company had accept
ed a bid of 99.3856 per cent by
Solomon Bros. & Hutzler for ST.
755,0o0 of equipment trust GER
tif1cates. This is Series &C, bear
ing 3 per cent dividend and pay
able in is equal annual install
sAa-4z .,YAian% ~ TIM a ov1~a%ary~1