Evening star., 1932-02-04

1881, than for De- M ~ xSf3Is%
cember, 1880 Rs2s2 - zs'sssls
Greensboro making Charles u Doirr
the best record for
the later month in proportion to popu-
lation. The three largest cities, Balti-
more, Washington and Richmond re-
ported relatively low figures. During
the year 1881, permits issued in the 80
reporting cities totaled 34,484, compared
with 35,091 permits issued in 1880 and
AZ l22 permits in 1929. Estimated val
uation figures last year totaled $780,
739 8Ol compared with S97 992,273 in
1880 and Sl3l 888, 967 in 1929
Contracts awarded in December for
construction work in the fifth district,
including both rural and urban prof.
ects. totaled $l1. .677 $50, compared with
Sl9 ga OCT awarded in November. 1881,
and S28,l39, ,023 in December, 1880, &C
Cording to figures collected by the F.
w. Dodge Corporation. Of the awards
in December, 1881, S3,74l $50 was for
residential work, compared with $7934,-
998 for this type of work in December,
1890.
Annual figures for 1881 on contracts
awarded in the fifth district total S243.-
595366, a decrease Of 81 per cent in
comparison with contracts tOtaling
mOnd Reserve Bank reported yesterday.
Doing Heads Program Planners.
Charles H. Doing vice president and
director of the Washington Loan &
Trust Co, has been appointed chair
man Of the Program Committee for the
14th annual convention Of the District
Bankers Association by General Chair
man Claude H. Woodward c. F. Jacob
son he's been named vice chairman.
The other members are Lanier P.
McLaChlen, president. MCIsachlen Bank
ing Corpora ton, Henry H. Mckee,
president. National Capital Bank; Rob-
ert Y. Fleming, president, Riggs. Ma
tional. Victor B. Deyber, president
Second National, John Poole, presi-
dent. Federal-American National Bank
g. Trust Co.: Francis G. Addison, jr
president. Security Savings g. CONNER
Cial: Howard Moran, vice president
American Security & Trust Co; Joshua
Evans. jr., president, District National
and Morris D. Rosenberg. president,
Bank of Commerce & Savings.
Chairman Doing was vice chairman
of the Program Committee last year
and chairman of the Press and Pub
licity Committee of the 1880 conven-
ton at ASheyille. N. c. He is also
chairman Of the D. c. Bankers ASSo-
citation Credit Bureau
The vics chairman, c. F. jacobson, Is
cashier Of the National Metropolitan
Bank anda member of the Council Of
Administration Of the District of Co.
lunbia Bankers Association and men,
Der Of the Executive Committee OF the
Washington Clearing House Association.
All the other members of the Program
Committee are past presidents OF the
association. whose ability and expert
ence Justify the belief that the June
event will be an outstanding occasion
in banking annals.
Association Reflects OtterbaCk.
Maurice Otterback. president of the
Anacostia Bank. was reelected preSi-
dent Ct the Eastern Building & Loan
Association at the annual meeting held
last evening Other officers named in
Clude Clarence F DOnohOe, vice preSi-
dent William N. Payne, jr., secretary;
George R. Repetti, treasurer, and Wal
ter H NARROW. attorney.
The stockholders elected these direc-
tors c. F. DOnohOe. William H.
Harmer. James J. Hayes, w. H. Mar
low, Maurice OtterbaCk, William N.
Payne. jr.; George R. Repetti, John M.
Riordon and William H. Yost.
Considering present business condi-
tions. President Otterback said, the
association enjoyed a very good year
The forty-third annual statement
showed that Sll2,500 was repaid in
loans On real estate and the association
made new loans on real estate totallng
S345, 600. The company paid over
$4,000 in dividends during the year.
Outstanding loans on real estate total
Sl,4246OO.
Treasury Changes Bond Rules.
Increasing yields on bonds, due to
the declining prices, have made it
necessary for the Treasury to modify
its regulations so that some Of these
issues could continue to be eligible as
collateral against special deposits Of
Government moneys.
Under the old regulation, the Treas
ury would not accept municipal bonds as
collateral against Government deposits
in banks if they yielded more than 5'2
per cent Rules were modified by max
ing bonds classified in one of the three
highest grades by a recognized invest
ment service organization, eligible The
bonds can be used to the extent Of
90 per cent Of their market value
against such deposits.
AS TO railroad issues the 6l2 per cent
yield classification was removed and
provision made that they must come
within the four highest grades.
Bonds Hold Exchange Interest.
Bonds drew all the attention in the
trading on the Washington Stock EX-
change today and all the sales were
in Washington Gas Light issues.
The market opened with $1,000
Washington Gas IS series B, selling at
lO3. same as the last recent sale.
After call, five sales Of $1,000 each
We're recorded in Washington Gas S.
IT 1901 Another $1,000 Of the same
issue changed hands at the higher fig
ure OF lOO24
Tho days final sale was in Washing
ton Gas 6s. series A. $500 moving at
lOO9s The annual report Of the Gas
Light Co which showed such excellent
earnings, is supposed 10 have been the
reason for the special demand for the
bond issues today.
Heard in Financial District.
The Virginia Electric 81 Power Co.
has declared the regular quarterly
dividend of $3.50 on the per cent
preferred stock, payable March 2l TO
stock Of record February 20.
Local holders of Packard Motor Car
stock have received word that the COM
psny has omitted the dividend dut at
this time. In the previous three quar-
ters dividend Of 10 cents q share was
paid.
Chicago g. Northwestern Railway
has asked Interstate Commerce Com
mission authority TO have authenu-
Gated and delivered to It $4,000 900 of
its 5 per cent first and refunding mort
gage bonds and TO pledge them as col
lateral for short-term notes.
Owing to increasing business, the
Washington branch of the G.. c. Muir
ply Co, national chain of 5 and 10
cent stores, located at l2l5-l7 F street
northwest, has leased premises at 1919
F street adjoining its present store.
Drug, Inc, declared the regular
quarterly dividend OF 81, payable March
! to stock of record February is.