ATLANTIC CITY ELECTRIC <ATE> TO REDEEM STOCK
Atlantic City Electric Co
said it will redeem all of its outstanding 5-7/8 pct cumulative
convertible preferred stock.
    The stock will be redeemed April 30 at the scheduled
redemption price of 101.50 dlrs a share plus accrued and unpaid
dividends.
    The shares are also convertible until the redemption date
into common stock at the rate of 3.5 common shares for each
preferred share. The company has 10,855 of the 5-7/8 pct
preferred shares outstanding, it said.
 Reuter
