Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-07-03

OF the first 26 banks reached today
Is reported gains in deposits ana IL
had declines.
The National Savings g. Trust Co:
reported the largest gain in deposits OF
any bank In the city.
Heavy Trading on Exchange Here.
Pre-holiday trading on the Washing
ton Stock Exchange today was excep-
tionally heavy, both bonds and stocks
being in lively demand.
Capital Traction opened at l05h and
closed at 1854. Potomac Electric
per cent preferred registered ll0A.
while the 5ia per cent stock sold at
1868.
Thirty shares of Federal-American
National Bank stock came out at 35S.
Riggs National opened at $50 and
closed at $50, on a 35-share turnover.
Ten shares of Security Savings 81 Com
mercial moved at 480 and American
Security & Trust sold at $50.
Peoples Drug came out TO-DAY at
l07l5, Chestnut Farms Dairy preferred
at i04I5, closing at 104. One and ten
changed hands at l0034. Washington
Gas Light closed at 957.
In the bond division trading covered
a very broad list, recent price levels
being well maintained. The exchange
will be closed tomorrow.
Company Has Fine Half Year.
Financial statements of the Federal
American Co. as of June 30, 1928.
show total resources Of $2.058, 722, on
set by liabilities amounting 70 $472,-
568 and net worth and reserve items
aggregating $i,5S6,i54. Net profits for
the six months ending June 80 amount
ed to SIG, 1852. which, when compared
with net profits Of SIS. 627 for the cor
responding period in 1927, indicate sub
stantiaI growth. The company's stats
tics show earnings of $l.64 per share
on the common stock for the first six
months of 1928, out OF which two 30
cent quarterly dividends have been paid.
Started Career Half Century Ago.
Hats of TO the Mayor of Anacostia,"
who started his business career just
so years ago today. Born on April 3,
1852, Maurice Otterback took his first
position July 3, 1873. with the National
Capital Telephone Co., later absorbed
| by the Chesapeake g. Potomac Tele-
/ phone Co.
After advancing to the position Of as
sistant chief operator, Mr. Otterback re-
signed in 1890 to become note teller of
the National Capital Bank. He held this
| position until he resigned TO become
| manager of the Anacostia branch of the
| Union Savings Bank In October. 1907.
He was one of the organizers and the
| first cashier Of the Anacostia bank,
started in May, 1910, and was elected
It's president in 1918.
| Mr.. Otterback is a great booster for
Anacostia. He Is director Of the Ma
tional Capital Insurance Co. and the
Eastern Building and Loan Association
a trustee of the Sibley Hospital and OF
the Swartzell Methodist Home for Chill
dren. He has long been prominent In
Masonry, and Is member Of the Cham
Der of Commerce and other trade or
CARNATIONS.
Fifth District Building Permits.
Il Building permits issued in May In &c
cities Of the fifth district exceeded those
issued in May, 1927. in both number ant
valuation, bringing the total valuation
for all permits issued this year Is pei
cent above the valuation In the first five
months of 1927. Retail trade In de-
nartment stores In May, 1923, exceeded
the trade Of May. 1927. by about 2 pei
cent, but May this year contained ar
additional business day.
Wholesale trade last month wa
larger in all lines reported upon thar
In April. but was below the trade o.
May, 1927. in all lines except groceries
and shoes.
Unseasonabiy cool and wet weather
in most of the district during May anc
the first half of June so delayed crof
development that IT Is difficult To an
alyze prospects IN agriculture for TIM
year
The cotton crop, the Richmond Re.
serve Bank says. Is from two TO three
weeks late. and is In serious danger
from weeyiis, but, With this exception
prospects for the years farm operation
appear 10 range from fair TO good al
though practically all crops are late anc