Newspaper Page Text
THE EVENING STAR, Washington, D. C. MONDAY, MAY 28, 1983 Hurry! Sale Ends May 31st Firestone Slashes Prices During Pre-Holiday Sale 8 Brand New... Factory-Fresh CHAMPION TIRES SIZE 6.00-16 j R«LPri» / SIZt AllC VA9S EXCHANGE L| %55V 6.70-15 S p^ca s l3»v | ions SB it met irst choice w' \ j is original I. | I rica’s new f / jlS^fr#ißß ED TIRE BODIES OR ON YOUR OWN TIRES > drive on smooth worn tires when you can get new tire ew Treads are made with the same high quality tread aterials the same tread design, the same tread depth \ Y and width as new Firestone tires! Carry a New Tire Guar* REG. PRICE JB antee too. Act today and SAVE! gJ| g kg * w,ce sin 5W£ $095 I HBff 5#M' t PK ,V u vc» | ww jSScg 0:^1 FIRESTONE STORES 13th & K Streets N.W. 604 R. I. Ave. N.E. 4043 28th St. South NA. 8-3323 AD. 2-3533 ARLINGTON, VA. Kl. 8-6840 8517 Georgia Ave. 1100 North Highland St., Clarendon Dist. SILVER SPRING, MD. JU. 5-2334 ARLINGTON, VA. JA. 4-1191 NO CHARGE FOR MOUNTING YOUR NEW FIRESTONE TIRES Halsey, Stuart Group Awarded $lO Million Pepco Bond Issue By Donald B. Hadley A group headed by Halsey, Stuart & Co. was awarded $lO million of Potomac Electric Pow er Co. bonds today on a bid of 101.4011 for a 3% per cent cou pon, subject to approval of reg ulatory bodies. The bid representing a net an nual interest cost to the company of 3.8023 per cent was regarded by company officials as exceed ingly favorable in the light of general market conditions. The bid was to be presented for approval of the Public Util ities Commission at a hearing later today. Also to be presented were the price and terms for an offering of 852,840 additional common shares to present hold ers. Other Bids Listed. Ranking in terms of net in terest cost to the company, the other groups and their bids fol low: Lehman Bros., Stone & Web ster Securities Corp. and Union Securities Corp., 100.96 for a 3 7 / a coupon and interest cost to company of 3.825 per cent. The First Boston Corp., 100.92 for a 3% coupon and interest cost of 3,8271 per cent. Kidder Peabody & Co.. Merrill Lynch, Pierce. Fenner & Beane; White Weld & Co., and Salomon Bros. & Hutzel, 100.8 for a 374 coupon and an interest cost of 3.8333. Harriman Ripley & Co., 100.7699 for a 3% coupon and an interest cost of 3,8349. Dillon Read & Co. and Johns ton, Lemon Sc Co., 100.2569 for a 3Va coupon and an interest cost of 3.8616. Washington Properties Sale. Purchase by Sheraton Corp. w AND THE EXCLUSIVE AT NO EXTRA COST I HR >#i!i for Summer i Comfort He: if It Doesn't Both COOL and HEAT It's OBSOLETE ARMED SERVICES PURCHASING CO. 1 Thomas Circle N.W. Get more for your money i i\9 *1,561 11 tsr buys a 1953 GMC Pickup with: 105 HP Valve* in-head Engine • 8.0 to 1 Com pression Ratio • “6-Footer” Cab • 45-Ampere Generator • Double-Acting Shock Absorbers • Recirculating Ball-Bearing Steering • Self- Energizing Brakes • Synchro-Mesh Trans mission • 6-Ply Heavy-Duty Tires. •Model 101-22. DUAL-RANGE TRUCK HYDRA-MATIC end other optional equipment, accessories, stote ond locol taxes, if any, additional. Prices may vory slightly in odjoining communities due to shipping charge*. All prices subject to change withouf notice. WASHINGTON, Central Truck Sales, Inc., 30 M Street N.E. WASHINGTON, Sheriff Motor Company, 900 Rhode Island Avenue N.E. GAITHERSBURG, MD., King Motor Company, Diamond Avenue WHEATON, MD., Wheoton Triangle Motor Center, Inc., 2427 Reedie Place ALEXANDRIA, VA., Central Motor Company, 1201 Oronoco Street of 51 per cent contro lof Washington Properties involved around 21,591 shares at a price estimated at around $2,272,500 or $lO5 a share, it was learned today. The assessed value of the prop erties, which include the Ward man Park and the Carlton Ho tels, is $8.5 million and has a $4 million bond mortgage against it. This leaves a nequity of around $4.5 million and 51 per cent of the last figure was the indicated price. The posted bid for the shares on the over-the-counter marwet has been as high as S9O a share recently, but currently was around SBS. President Ernest Henderson to day disclosed that Sheraton does not plan to offer to buy the re maining 49 per cent of the shares, at least at present. Many of the remainder are owned in Washington. At a special directors’ meeting tomorrow morning, present di rectors probably will be asked to remain on the board but addi tional members will be suggested to represent Sheraton control. Clinic to Hear Experts. Washington experts on six major phases of retailing will address the annual Merchants’ Clinic at the Shoreham Hotel on Wednes noon session * is scheduled Mr - Grotnw. to close at 4:30 p.m. Speakers and their subjects include: Gerald Grosner, Wash ington clothier, merchandising; J. P. Stedehouder, manager of Central Charge Service, open credit; Fred Nauheim, direct mail consultant, direct mail; Harold Singer, vice president of Lansburgh’s, sales training; Morris Moss, assistant vice president and store manager of the Hecht Co., exposed selling; M. Belmont Ver Standig of the Washington advertising agency bearing his name, advertising and sales promotion. Lined Up for Housing Bonds. Two big syndicates are lined up to bid on $122,515,000 bonds of 46 local housing authorities, which go on the auction block tomorrow. Chemical Bank Sc Trust Co. heads a bank-dealer group, while Phelps, Fenn & Co., Lehman Brothers and Blyth Sc Co. are senior managers of the opposing dealer group, which includes a number of Washington houses and firms with offices here. Directors of the National Mortgage and Investment Corp. have declared a dividend of 35 cents a share on account of ac crued dividends on the preferred stock, payable June 15 to holders of record June 1, President Jo seph B. Schaaff announced to day. Savings Bond Citation. A Treasury Department cita tion acknowledging outstanding co-operation with the United States Savings Bonds Program will be presented to the Optimist Club tomorrow at the Mayflower Hotel. The presentation will be made to W. S. Martindill, presi dent. by Raymond Davis, assist ant to Secretary of the Treasury Humphrey. Honored guests will Include Edward C. Baltz, District Savings Bonds chairman, and the four chairmen who preceded him: H. L. Rust, Jr., president, H. L. Rust Co.; John A. Reilly, president. Second National Bank; Wilmer J. Waller, president, Hamilton National Bank; Thomas J. Groom, president. Bank of Com merce Sc Savings.