Evening star., 1930-12-08
NEW S30O,ODD BOND
ISSUE ANNOUNCED
Washington Suburban Sani-
tary District Notes to Be
Sold Wednesday, Dec. II.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Bids will be opened Wednesday, De-
cember II, on a new 100000 Az per
cent issue of Washington Suburban
Sanitary District bonds, it was an
nounced today in the financial district.
The bonds will run 80 to SO years
The bonds are being put out by the
Washington Suburban Sanitary Com
mission, the funds to be used in the
extension of water mains and sewers
in the territory adjacent to the Capital.
The commission has been handling
sewer and water extensions for several
years in outlying areas and has already
marketed several other bond issues.
This issue is to be known as series w.
The bids will be opened before 3
O'Clock on the above date and the award
announced, The commissions Office is
in the Tower Building.
Trading on ID. c. Exchange
The, largest sale on the Washington
Stock Exchange today was so shares of
Washington Railway & Electric pre-
ferred at 9Si2.
Columbia Medical Building Corpora
ton sold at ITO. Federal-AmeTican Co.
common at 29$i, Merchants Transfer
& Storage preferred at 98 and Mergen-
thaler. Linotype at 88 and 8812.
There was transfer of 100 shares
of National Mortgage & Investment
preferred at s.. The only bond sale was
In Capital Traction SIS at 851s.
New Low Rate on Treasury Issues.
Offering Of two issues cf Treasury
certificates totsling $400, GOO 600 at rec
ORD low interest rates was announced
by Secretary Mellon in connection with
tthe December 10 financing of the Gov
ernment.
The first offering, totaling $50, ,0oO,-
900 six months Treasury certificates,
is dated December Is and will bear in
terest at rate of 134 per cent. The sec
ond issue, dated December Is and due
December IS, 1881, totals S250,OOO, 900
with interest at rate of 17s per cent.
Certificates to be retired December
Is bear rate of 314 per cent and the
previous low record of interest rate
since the war was 22s per cent borne
by the certificates offered on September
Is, 1880.
The Treasury announces it will accept
In payment for the new certificates at
par Treasury certificates OF indebted
ness of Series TD-193O, maturing De-
cember Is, 1880. offers of maturing
certificates for the new issues will be
given preferred allotment on the six
months certificates up 10 $4,000, 900,
and up to $5o,000,o00 on the IL months
certificates.
Fifth District Building Permits.
Building permits issued for new con-
struction in 80 leading cities of the
fifth Federal Reserve district in Octo-
Der, 1880, numbered 1893, with esti-
mated valuation totaling $3.50, ,48O,
compared with / ,438 permits issued for
new work In October, 1929, valued at
$8,094, ,903. Alteration and repair per-
mits also declined in both number and
estimated valuation last month in COM
parison with the corresponding month
OF the preceding year. Total valuation
for an classes of permits issued in Oc-
tober this year, amounting to S6,967,-
531g showed a decline of S3,013.801 in
comparison with permits, totaling
$685., 1892, issued in the same cities in
porting cities showed higher valuation
figures this year, and of these only
3-Roanoke, Va; Charleston, W. Va,
ana charleston, S. C.-showed figures
in keeping with population.
Contracts awarded in October for
construction work in the fifth district,
incAiding both rural and urban projects,
totaIed $25,56e ,298, compared with s25.-I
600J60 awarded in October, 1929, and
S40,328,757 in October, 1928, accord
ing TO figures collected by the F. w.
Dodge Corporation. OF the awards in
October this year, S4,805,083 was for
residential work, compared with $685.
O55 for this type Of work in 1929.
Bankers Association Active.
The auditors section of the District
Bankers Association will hold its De-
ce1ber meeting Thursday evening at
the National Press Club, beginning at 6
O'Clock.
The associations Advertising Com
mittee had a luncheon meeting this
noon at the Hotel Raleigh, the present
Christmas Savings Club campaign being
given special attention.
The council has voted to hold an
open meeting Of the association on
Monday, January 19, at which some
outstanding guest SPEAKER will be Sc
cured. A similar meeting was held last
January and proved highly interesting.
FRANK w. Simmons, secretary and
deputy manager of the American
Bankers Association, was in Washing
ton today to confer with President
Ianier p. McIachlen and Robert V.
Fleming regarding the Central Atlantic
States Bank Management Conference,
to be entertained here in February.
Heard in Financial District.
William Muehleisen, former president
OF the Mount Vernon Savings Bank, is
confined TO the Garfield Hospital with
illness.
The regular quarterly dividend of
$2.25 on American Telephone & Tele-
graph stock will be paid on January
is TO stockholders Of record Decem-
Der 20.
Passage of a 37la-cent quarterly
dividend leads a stockholder to insist
that the payment should have been
made from surplus. Such action, he
says, would have released $3.50 on
every 100 shares and thus help active
. business. This is no time, he thinks,
for corporation surplus earnings OF
previous years Ito go into Information"
Much favorable comment was heard
in the financial district today on the
address delivered by Gilbert It.
Stephenson at the joint meeting of
bankers and insurance leaders Satur-
day night. Mr.. Stephenson revealed
an amazing kowledge of the trust busi-
ness from both the banking and in
surance standpoints. It is easy to see
why he is president of the trust COM
pany section of the American Bankers
Association.