Evening star., 1934-04-16

Co. He attended the United States
Military Academy and also the George
town University Law School. While
attending law school he was secre-
tary to United States Senator David
l. Walsh of Massachusetts,. Subse-
ouently. Mr.. Connolly re-entered the
investment field in Washington with
Gillet & Co. He will specialize in cor
poration and municipal bond business.
Mr. Connolly became active in his
new connection today, his Office being
in the American Security Building.
Sanitary Bonds Offered.
John Nuveen g. Co. of Chicago are
marketing s5OO,OO0 Washington Sub
urban sanitary district per cent
bonds. due 1884 (optional in 1964,
and Internationally guaranteed as to
principal and interest by Montgomery
and Prince Georges Counties, Nd. by
Endorsement on each bond.
The Washington Suburban Sanitary
District, encircling almost completely
the city of Washington, was organ
lied in 1918 by the Maryland Legis-
lature to provide water and sewer ia
cilities. Chevy Chase, Takoma Park,
Hyattsville and College Park are in
cluded in the sanitary district.
Income from the district for operat-
ing purposes is derived from the sale
of water, frcm a service charge for
providing and maintaining water and
sewer facilities and small ad valorem
tax.
Bonds Lead ID. c. Trading.
Bonds were again in favor on the
Washington Stock Exchange today
when the weeks business opened.
Anacostia e. Potomac Railroad 5s
opened the market with five $1,000
sales, all made at 661a. These bonds
made a most unusual record, during
the present year, having advanced
from 40 to a high of g. They closed
today with 81 bid and So asked.
Anacostia & Potomac Railroad
guaranteed SIS also came out today,
$1,000 changing hands at 98, closing
with 96 offered and 98 asked
The only other transaction was in
In Washington Gas IS, 1858. $1,000
moving at 94A. The strength in these
bonds during the first quarter was
also impressive, having opened the
year at 80.
The largest turnover in gas bonds
this year. however, has been in Gas
SIS. 1860, total sales reaching $57,500
on a price advance from 1892 to
106ls. Capital Traction SIS have
moved from 81 to 81 so far in 1884.
Telephone Dividend Paid.
Thousands of checks were received
In the mail here today in payment Of
the $3.50 quarterly dividend of the
American Telephone & Telegraph Co.
At the same time President Clifford
announced net gain of 100000 tele-
phones in the first quarter and an
increase every month since last Au-
gust. Earnings in the first quarter
were SLIT per share.
New York City bank stocks regis
tered a sharp recovery during the past
week. The advance, in part, was due
to the exceptionally favorable bank
statements issued as of the close of
the first quarter. The aggregate value
Of the 16 leading issues. according TO
records compiled by Holt. Rose &
Troster, totaled Sl,634 ,227, 900, as of
the close April l3, which was within
striking distance Of the high record
for the year to date established on
February 10.
The Potomac Edison Co. has been
authorized by the Maryland Public
Service Commission to purchase from
the Maryland Light & Power Co. the
electric plants in Lonaconing, Mid
land, Antietam and Emmitsburg, also
the property of the Harpers Ferry
Electric Light & Power Co. on the
Maryland side of the Potomac.
Heard in Financial District.
The Washington Mechanics Savings
Bank changed its name today to the
City Bank of Washington.