The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-09-11
SALE OF COUNTY BONDS.
$4,000 OF THE ISSUE AT 81 PER
CENT. PREMIUM.

Capt. Henry Blum the highest Bidder
The Commissioners Conclude to Sell
But $4,000 Worth at Capt. BUNS
Bid-Rumors That the Purchase Was
| For Syndicate.
The bids for the new court house bonds
were opened yesterday afternoon by Clerk
Dillon at a meeting Of the county commits
sioneis, at which Commissioners Walker,
Estil and Read were present, and the
award of $50, 900 worth of the bonds was
made to Capt. Henry Blum, the highest bid
der. The following resolution, authorizing
the award, was adopted:
Resolved, That the bid Of Henry Blum, offer
| ing "a per cent premium and accrued interest
Tor the county bonds, be accepted for $50, 900 of
said bonds, and that the chairman OF the county
commissioners be and be is hereby authorized
TO deliver said bonds to the said Henry Blum,
| according to the terms Of his bid
The county commissioners were unwilling
that the entire issue should be placed, as
they hope to get better terms for the rest of
the bonds, not being in need of the money
for the present.
GOSSIP OF THE PURCHASE.
Capt. Blum did not state for whose ac-
count the bonds were purchased It is
SAlOue W UE SOllb Judb Ll6 DTOk6TS went INTO
pool TO get hold of the bonds, and that
Capt Blum was selected as the head of the
syndicate. Others say that the bonds were
bought for the Villalonga estate.
There we're seven bids IN, and some of the
bidders were present when the bids were
opened. Some of the bids were carefully
wrapped in an extra sheet Of paper before
being inclosed in the envelope, ard heavy
seals of sealing wax were used, so
hO 10
to tell what the bid was until the seal had
been broken, the bid taken from the en-
velope, and the outer sheet of paper re-
moved. After the bids had been opened
and read the commissioners went into ex-
ecutive session to pass upon the bids. TIE
following is a summary of the bids in an
swer to the advertisement for sealed pro-
posals.
THE BIDS OFFERED.
X Armstrong, Guyton, 3 per cent.
premium for $1,000 of the bonds.
c. II. Veuner & Co., New York, S101 so
per hundred on tue entire issue
George L. Cope, Savannah, $l02 50 on the
entire issue.
Golden Rhind, Augusta, a of l per cent.
premium, and accrued interest for the
issue.
S. A. Keane & Co., Chicago, 1888
premium on the entire 100000 worth Of
bonds.
A. Dutenhofer, New York, ~ of l per
cent above the average price of the highest
bid or bids" but with the proviso that he
was to be awarded the entire ISSUE This
was held to be no bid at all, as there was no
average price Of the highest bid +" and the
average price of the highest bids was not
much more intelligent, as all the bids but
the lowest might b. classed as the highest
bids"
THE BONDS ) PER CENTS.
The bid of Capt. Blum being the highest,
he was awarded the amount Of bonds sta ed
The bonds bear per cent. interest payable
semi-annually, about 21$ months interest
having already accrued.
well posted gentleman said after the
award that he supposed the entire issue
would have been taken at premium of
about per cent, and if ne had doubted this
he would have put in a bid for 81, 900 at 5
per cent, which he was willing to give.
The fact that only one local broker put in
bid, gives color t. the rumor that the
brokers pooled their i-sues to scale down
the premium, but the impression outside is
that the action of the commissioners il sei-
| ling less than one-third of the issue will
have tendancy to run up the premium, as
it is considered that the bonds are gilt edge
| securities.