To be sold first come-first served

ATLANTIC CITY ELECTRIC CO] PREFERRED STOCK

ITS SAFE and PAYS DIVIDENDS WV l r NEVER FAILED to f ,v d^dends on ourTrefIS I , have l>;en f^id every three months WITHOUT A BREAK addends For Over Seventeen-and-a-half Years

DIVIDENDS AMOUNT TO (>% A YEAR number of shares are for sale. Therefore the Compa r r ' j'-* w any part of each subscription.