Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-06-26
ROAD BOND ISSUE
SOLD FOR S97659
Montgomery County Board
Awards Contract to Ma
tionaI City Co.

BY Stan Correspondent OF The Star.
ROCKVILLE, Md, June 26.-The
county commissioners at their meeting
here yesterday awarded to the National
City Co. of New York the entire issue
of $697,999 in road bonds, bids for
which we're opened. This company.
the highest bidder of two, offered
by them to be equivalent to par, with
a discount or loss of $16,31o.49. The
other bid was joint one, from Nelson,
Cook a. Co.; Townsend Scott 81 Son
and Baker, Watts e. Co. of Baltimore,
which was $96.83 per 500.
Bid Declared Excellent.
The National City Co. bid was de-
clared to be an excellent one, consider
ing the present condition of the mar
ket. and was said to be much higher
than prices received by municipalities
and other counties in various parts of
the country. The call money price was
said to be so high that little cash is
being put in municipal bonds.
Berry E; Clark, clerk of the county
commissioners. informed the board that
he had been told by representatives of
bonding companies that If they could
hold some of their bond issues until
November, a much better price could
be received. However, the bonds now
being sold are being put on the market
because of the fact that the county
needs the money at this time.
AS soon as the National City Co. bid
was opened, Commissioner Lacy Shaw
moved that it be accepted, and the
board concurred in the recommendation.
The proceeds of this issue, which Is
dated July /, are to be used for the
payment of debts already incurred in
the construction Of roads in various
parts of the county. The money had
been advanced from other funds in the
possession of the board. 1t also is to
pay the State Road Commission for
work it has already completed.
School Board Wants Funds.
The commissioners received resolu-
ton from the County Board of Educa-
ton asking for the immediate sale of
the 1886, 600 in bonds, authorized at the
last session of the Legislature. for the
provision of funds for new school con-
struction in the county. 1t was pointed
out that the increase in the school pop
ulation makes it necessary to have these
funds now, so that the construction
work can be started during the current
Summer
The board directed its clerk to adver-
tise the bonds for sale Immediately.
The commissioners also ordered con-
demnation proceedings instituted for
the acquisition of a right of way for
q county road 80 feet wide and 528
feet long from the Rockville pike south
of Rockville to bridge over the Bal
timore a. Ohio Railroad tracks through
the land of Philander C. and M. A.
johnson. There is said now to be a
roadway there, but it Is not public
highway. The matter was presented
to the commissioners by Attorney Sted-
man Prescott.
Income Reduced.
The income of the county will be
reduced approximately $500 a year
under ruling of the State auditor. who
informed the commissioners that the
fines in the Police Court as result of
convictions for common law offenses
must be sent to the State. Heretofore,
these funds have been kept in the
county fund. The step was taken as a
result of new law, it was said.
The county commissioners took under
advisement the request of County
Agent o. w. Anderson for an addition
al 5000 for the expenses of the latter.s
assistant In travelling over the county.
The agent last year received $500. DR..
Perry announced that he was opposed
to 1t, because, so far as he could learn
neither the farmers nor the Farm Bu-
reau wanted it.