Wichita eagle., 1889-05-28
CITY R0ND SALE.
CONSERVATIVE MAINE MEN GET
THEM.
Seventeen Thousand, Eight Hundred and
Eghty-fve Premium on $255,000
Six Per Cent Sewer Bonds
Wichita Security Brings Money at
-Four and One-Half Per Cent-W. P.
McNair Confirmed City Clerk; II.
II. Jackman City Engineer and
Ants Give In,

last nights council meeting would be of
unusual interest, and as result the space
outside the ratings was well filled by
spectator. They were not all merely spec
tators, according to the usual acceptance
of the term, but many were on business.
1t wa nearing the hour for selling the
bonds and hence representatives from all
the banks of the city, besides sexeral rep
resentatives of eastern bond purchasing
companies, were ON hand. Some of them
were quite nervous, moving around con-
stantly and pulling cigar vigorously. All
the leading eastern cities were represented
and 1t was hoped that the city's bonds would
find purchased at a good price. Besides the
the bond purchaser, there were quite a
number present who expected to hear
some music about city affairs. 1t WAS
constantly believed that certain members
of the council would quit opposing the adj
ministration and join in confirming ap-
pointments. The city clerk before the
meeting was called to order said he had
intended to hand in resignation but by
doing so he thought it would make it east
er for certain members Of the council who
he thought should not 60 back on them.
He seemed to clinch to the idea that there
would be some satisfaction in the home
stretch Of his official career to put than on
record. In the city work the clerks bust
ness seemed to command more attention
than any thing else. 1t was
claimed by some that an arrangement had
been made with the mayor allowing the
city engineer to retain his place. This, it
was said, had been brought about by Mr..
Herring, the New York engineer, who had
been consulted on the sewer system and
who gave the opinion that ii might prove
an injury to the sewer work to change
horses in the middle Of the stream. 1t was
understood that some of the citizens and
members of the council, who have been
with the administration. had recommended
to the mayor that it might be best to make
no change at present in the office OF the
city engineer.
THE TAP FOR ORDER
Shortly after ! O'Clock the mayor took
the chair and the members filed out from
the lobby, showing Carson, Barnes, john
son, Downing, Schnitzler, Coffin, Williams,
Glaze, Wright present. Inquiry was made
for Healy and Carson said he had under
stood his colleague from the First had
gone out of town in the evening and would
be on hand after while, possibly not until
late in the session. While the matter was
being discussed Healy appeared. This was
followed by some minutes being consumed
by the mayor and Councilman johnson
and Barnes in private conversation at the
desk of his honor. Some diYined the chat
was on one subject and some said 1T was
another The majority seemed to think it
was not about the bond question. Each
one seemed to be in the best of spirits
smiling frequently. In a quarter hour the
mace fell again and the clerk passed over
the roll
Coffin moved the reading of the minutes
be suspended until after the bond question
had been settled. The motion carried and
the mayor explained that the bidding
would be open and the council would re-
serve the right to reject any and all bids.
Glaze said some of the purchasers asked
the privilege of paying 100000 down and
S5G, 600 in ninety days and other payments
similarly. He had spoken to majority
of the members and they seemed to think
the partial payment plan would not be the
proper thing.
Healy seemed to think all bids should
be accompanied by check for 5000 and
this serve as a foundation for work COM
mencing. Downing made motion embrac-
ing the idea and Barnes a second prevailed.
In few minutes the checks We're made
out and the clerk according to checks Of
new ink was a moderately well fixed"
man.
Mr.. Glaze stated that the whole amount
of bonds to be purchased calls for $3.50, 600.
The clerk read the names of the COM
pany depositing checks preparatory to bid
ding. The companies were as follows:
Splitter & Co., Toledo, Ohio; Jarvis,
Conklin & Co, Kansas City; L. d. Skin
ner: Citizens bank; S. A kean & Co.,
Chicago; Woodbury. q Noulton, Portland,
Maine; NJ. w. Levy; H. W. Lewis, N. NJ.
Harris & Co, Chicago; larson Leach d
Co., Cleveland, Ohio.
The first bid by Splitter at par and he
quit at So 25. Skinner left off at S14, 400;
Jarvis, Conklin & Co. left off at $780, Citi-
zens bank dropped out at Sl2,725; S. A.
Kean & Co. dropped out at ST, $50; Wood
bury g. Moulton first bid SC, 200 premium
and ended S17, SS5.
When Mr.. NJ. w. Levy's name was called
he said he would take the bonds at five per
centif the city would pay him two per
cent for negotiating sale.
To this the mayor said he did not see
how the council could consider such a
bid.
To this Mr.. Levy said the council could
accept it on the ground that it had re-
served the right TO reject any and all
bids.
Col. H. W. Lewis when first called said
he would pass for the present and failed to
put in bid.
The last bid of \. W. Harris s. Co. was
sl6.55o premium with Farson, Leach &
Co dropped out at S., Los.
The roll of bidders WIS called twenty
one times and the financial cunning was
listened to with great interest at times.
About two hours was consumed in the
work and the last half hour was spent in
close bidding and careful figuring.
On the second roll call Mr.. Levy refer
ring to his bid again said
he would take less than 2 per cent for his
work in negotiating the bonds and would
accept any amount that might be agreed
upon,
On the third call Mr.. L. D. Skinner said
he had come prepared to bid on s per cent
bonds and if bids on per bonds could be
considered he wanted TO know it.
The mayor announced that the city at
torney held that it was only possible to
bid on yer cent bonds.
Mr.. Levy replied by saying he thought
the council had the right to save money
for the taxpayers and sell at per cent, If
possible and make a saTing IN interest of
about $4,000.
Col. II. W. Lewis said he thought the