Evening star. [volume] (Washington, D.C.) 1854-1972, 1923-07-10
POSTAL RECEIPTS
MAKE BIG GAINS
New Bond 0ffering-LocaI
Exchange Active-Bankers
Planning Vacations.

The fiscal year ended June 80. last.
postal receipts, based on returns from
the nifty selected cities. which il next
to the largest gain ever recorded In
the postal service for a year in which
there were no changes in postage
rates. The only exception is the year
1918. when the war revenue brought
receipts for the fifty cities up more
than 10 per cent over the previous
year. The previous high-water mark
for a normal year was 11.76 per cent.
made in the fiscal year 1903 over 1902.
1t is estimated that the entire pos
tai revenue for the fiscal year 1923
will reach s533.o00.000, as compared
with s4S4.s93,o0O for the previous
year. Receipts for June. 1928. in the
fifty selected cities were 707 per
cent greater than for June, 1922.
which. in turn, were 1924 per cent
greater than for June, 1921. making
total percentage of increase for the
two years of 1881 per cent.
100000 Land Bank Offering.
The Potomac Joint Stock Land
Bank will offer for public subscrip-
ton tomorrow morning 100000 of
per cent. thirty-year farm loan bonds.
dated July /, 1929. The issue was
authorized at special meeting of
directors last night. The sale will
be handled by Brooke. Stokes & Co.
Greater working capital is the sole
object of the new fiotation. The in
stitution Is capitalized at $250.0o0,
with a surplus OF $25. 1000, but so great
agricultural projects in Maryland and
Virginia that the banks officials
deemed it advisable to issue the
bonded indebtedness
Not only is the new issue free OF
all federal. normal and surfaces, but
also free of tax in any state or dis
trict of the United States For in
stance. municipal bonds of the state
or townships in Virginia are taxable
in Maryland and the District of CO.
and conversely the same is true of
Maryland municipals. but the Joint
Stock Land Bank bond is not only
free Of all taxes in the District of
state of Ohio, where they are equiva-
lent to $50 bond a year, where not
only are the majority of Ohio mu-
nicipal bonds taxable, but all mu-
nicipal bonds of other states.
Local Exchange Active.
Trading on the Washington Stock
Exchange grew more active this
morning. the members expressing a
| decided preference for the investment
side of the list. Capital Traction SIS
were firm at 81, a total of s3,500 face
value changing hands. while Railway
IS were steady at 99A. Pepco. re-
funding 6s eased off to 1o1a in late
trading. after selling earlier at loo,
| and Railway As were unchanged at
70H and whereabouts. Georgetown
Gas 5s sold at 81.
In the stock list Railway common
recovered to sc on restricted sales,
Gas was unchanged AT 4S and slightly
above. Capital Traction brought 9sS.
Telephone Dividend Voted.
Directors of the American Tele-
phone and Telegraph Company have
declared their regular quarterly divi-
dend Of "a per cent per share on
the outstanding stock of the COM
stockholders of record at the close of
business June 20.
The stock Is on a definite annual
basis of 9 per cent.
U. S. Coinage During Year.
Mints of the United States. during the
fiscal year 1923. coined 3,009.500 pieces
Of gold. double eagles, valued at $780,
100, 900; silver, 116. 1859, 900 pieces. val
ued at s11l,3so,000: minor, 13.4S0,O 600
pieces. valued at S616.760, making total
pieces coined 132,s50,0o0, valued at
s172.196.760.
The total coinage of United States
minis on June was 3oS.oo0 pieces.
valued at s5,7ss,10G, OF which double
eagles amounted to $4,000 pieces. val
ued at s4,62o,o0o. and silver dollars.
half dollars and Monroe dimes. 6.072,-
900 pieces, valued at $l,lT9,0oO.
Personal Mention.
Maurice Otterback. president of the
Anacostia Bank. will go to Penobscot
Bay, Maine. on Friday, for a months
vacation. Mrs. Otterback will accom-
pany him.
Maurice D. Rosenberg. president Of
the Bank Of Commerce and Savings, will
depart for California on July Is. for
two month vacation. His family will
accompany him.
Y. Z. Booker. chairman of the state
bank division of the District Bankers
Association, leaves tomorrow for
short vacation, to be spent at the
fishing shack of Edward j. Stell-
wagon on the West river.
Eugene E. Thompson, president of
the Washington Stock Exchange, is in
New York on business.