Evening star., 1933-06-07

home here. He is one of several young
men who have made connections with
local investment firms since bonds and
stocks have shown so much more aetiv-
ity on the upside of the market.
Building in Fifth District Cities.
The volume of work provided for In
building permits issued in April, 1888,
in 80 fifth district cities was small, but
showed a seasonal increase over other
recent months, the Richmond Reserve
Bank has just reported. Permits 1or
ali types of construction numbered
2,026, compared with 1924 permits Is
mits issued in April last year. Estl-
mated valuation figures for permits
issued last month totaled s2,415,773, an
increase of 1903 per cent over S963, ,382
for March, 1888, but a decrease OF 3l.2
pe- cent under S3,512 200 for April,
1882 Ten of the 80 cities reported
higher valuation figures Tor April TINS
year than last, but Washington was the
only one of the five largest cities which
increased. In proportion to population,
Roanoke made the best record.
Contracts awarded for construction
work in the fifth Reserve district in
Auril this year totaled $685. ,484, in
cluding both urban and rural construc-
ton. compared with S12,896,967 In con-
tracts awarded in April, 1882, s21 1885,
600 in April, 1881. and $40,971 ,884 IN
April. 1880, according to figures col
lected by the F. w. Dodge Corporation.
OF the April, 1888, contracts, S2,432,-
$50 was for residential structures, ap-
proximately SO per cent of all contracts,
compared with S3861, 1882 for residential
work in April last year, or 80 per cent
of all contracts awarded in that month.
Ronds Lead Local EXCHANGE
Potomac Electric Power consolidated
IS led trading on the Washington Stock
Exchange today The market opened
with three 81, 900 sales in the bonds at
1o3. followed by two mere 81 900 sales
in the same issue at 1922. Potomac
Electric Power IS recorded 81 900 sale
at 107.
The first stock sale of the session was
a 10-share lot Of Capital Traction at
81. A single share of Potomac Electric
Power 6 per cent preferred moved at
1o9la, while the corporations 5l2 per
cent preferred figured in two small
transfers at 1862.
Washington Railway g. Electric pre-
ferred figured in four small-lot sales. all
made at 81, practically unchanged from
other recent transactions in the same
issue.
Association Declares Dividend.
Directors of the Interstate Building
Association have voted 6 per cent
dividend to all charter members of rec
ord June TO- payable July l. The Off
GERS of the association include John l..
Weaver president; Clarence Dodge,
vice president; Earl M. Mackinrosh,
vice president; Martin R. West, treas
urer, and Edward K. Jones, secretary.
1t was announced by Secretary Jones
that the association has gone ahead
rapidly since the bank holiday in
March, with over 100000 in shares
subscribed and an equal amount placed
in reserve. The association was or
ganized by Weaver Bros, Inc, in 1892
The firm is a loan correspondent of
the Metropolitan Life Insurance Co.
and has made many first mortgage
loans on homes in and around Wash
ington.
Cleaned in Financial District.
Maurice Otterback, president of the
Anacostia bank, will leave Washington
in a few days for a tour of Europe.
Some of his friends are planning to
give him a complimentary dinner to-
morrow night at the Beaver Dam
Country Club.
The District of Columbia Life Un-
derwriters' Association is taking as its
guests 100 orphans from various institu-
tons to the Republican-Democratic
base ball game June 10. Loren l..
Cluster, New York Life Insurance Co.,
is in charge of arrangements.
National City Bank has declared a
dividend of 25 cents, payable July to
stock of record June 10. This is the
same as paid three months ago, at
which time the dividend was reduced
to IS cents from so cents.
Central Hanover Bank g. Trust Co.
OF New York has declared the regular
quarterly dividend of $3.50 payable
July l to stock of record June 49,
Emerson's Bromo- Settler, Inc, has
declared the regularly quarterly divi-
dends of so cents each on the class
and B common stock and so cents on
the preferred, all payable July l tc
stock of record June Is