Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-29
Total ..... 1884, 67s, 7O4 s55s,ses, 1862
Otterback Host to Bank staff.


President Maurice Otterback of the
Anacostia Bank was host to the en-
ployes and their wives at the Beaver
Dam Country Club yesterday afternoon
and evening in celebration OF the
banks twenty-first birthday. In recent
wears the bank had made splendid
gains in resources and deposits, having
made unusually rapid progress. The
bank, which has been in home OF its
own since 1925, has just been redeco-
rated and improved in every way. 1t
held open house yesterday and today
and the officers received host Of con-
CALCULATIONS.
The AnacoStia Bank really started in
a drug store. When the late George o.
Watson was cashier of the Union Saw
ingS Bank he went to drug store on
Nichols avenue to collect deposits for
his bank. His plan worked so success
fully that branch was opened In Ana
costa with Maurice Otterback, then
note teller of the National Capital
Bank, as the manager. In May, 1910,
this bank, which had been placed under
a Virginia charter became the Ana
costa Bank, with Mr.. Watson as the
first president.
Mr.. Otterback became president in
1918. The banks deposits on the last
controllers call were $1,474, 647.16. Mr..
Otterback believes in the business
future of Anacostia and hts enthusiasm
is shared by his board of directors. The
bank is starting another year with very
bright prospects.
Los Angeles Seeks Convention.
BY unanimous vote of the Executive
Committee of the Los Angeles Clearing
House Association, an invitation has
been extended to the American Bank
ers Association to hold its 1882 con-
vention in Los Angeles.
The annual convention was held In
Los Angeles in 1911, 1921 and 1926.
The 1926 meeting was the second
largest in point of attendance in the 81
years of the associations existence.
More than 1000 delegates were register
ed for the sessions.
The popularity Of Western hospitality
and the many attractive features OF
Southern California, practically assure
the acceptance of the invitation, in the
opinion of Los Angeles bankers.
This year the annual convention Will
be held in Atlantic City from october
to 8. Many Washington bankers are
already planning to attend the meeting
Auditors Section dominates.
The auditors section Of the District
Bankers Association has nominated tho
following 10 members for place on tbs
Executive Committee, to be elected al
the coming annual meeting, according
to announcement by Raymond G.. Marx
auditor Of the Riggs National Bank.
James D. Barrett. American Security
& Trust Co.; A. J. Bitterly, Munsey
Trust Co.; Joseph Boyd, Second Ma
tional: James C. Elgin, w. 3. Hibbs &,
Co; Ralph Endicott, Washington Loan
e. Trust Co.; William M. Harris. Lincoln
National; Arthur j. Linn, Federal-Aner-
lean; T. S. Mason. District National;
Robert A. Sisson, Washington Savings
Bank, and A. E. Yeatman, Columbia
National.
From this list five will be elected tc
serve on the Executive Committee, and
these five will, in turn, elect the chair
man, vice chairman and secretary
treasurer for the coming year.
According to the bylaws of the
auditors section, the annual meeting is
to be held at the convention OF the
District Bankers Association. In case,
however, that there is not quorum at
the convention meeting. it is planned to
hold the election on June rs. Ralph
Endicott has been chairman of the sec
ton during the past year.
Today's Trading On Exchange.
Bonds were in better demand than
stocks on the Washington Stock Ex-
change today. Washington Gas 5s,
Washington Gas IS, series B and
series A, came out at recent levels
on a good-sized turnover. Gas IS
sold at 1862 and 1864. The B
bonds moved at 1862 and the A issue
changed hands at 1929 and 102 for
smaller denominations. There was a
$4,000 sale in National Press Building
SIS at so.
Washington Railway & Electric pre-
ferred registered 1914 and small sale
in Terminal Refrigerating & Warehous-
ing Corporation took place at 401s.
The unlisted issues were called on
and very few quotations changes noted
during the past week.
Cleaned in Financial District.
All the banks, broker offices and other
local investment houses will be closed
tomorrow, Memorial day.
The Chesapeake & Ohio Railroad has
declared the regular quarterly dividend
of 62la cents on the common stock
PAYABLE July to stock of record June g.
Dividend payments to stockholders OF
the Pennsylvania Railroad will pass the
billion dollar mark with the mailing OF
the regular quarterly Spring payment
10 the railroads nearly $4,000 share
holders.
Secretary of Labor Doak states that
May has shown a Slight and gradual
upswing in employment. The increase
is not large, he said, but there is