The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-04-05


whole issue '.a. price which will realize me SO
per cent. aud sl4.s9s" This would make the
bid equivalent to $500 PEI cent. He also made
separate bids
The net amounts to the city on the three
highest bidders would be as follows: A.
Barker. sl24l, To; Blair & Co., 81, 240, 40;
q. ii. Riley. $l,240,0S0 The only disad-
vantage in Barker's bid was that it did not
offer to take the whole amount at once
Otherwise it wasthe best bid.
DIR. Klceber moved that the bids be re-
ferrcd to the city council with the recon-
mendation that the bid of Blair & Co. be
accepted.
Thomas r. Shepard had entered the
room and announced that he represented
Lamprecht Il Co. and Rollins & Son. He
said that the bids of these houses, taken
together, were higher than those of any
one house, and he desired TO have the
blocks so awarded that Lamprecht should
have those three on which their bid was
highest, and Rollins & Son have the other
three.
The board thought the bid of Blair & Co.
most satisfactory and after some general
discussion the matter was left that way.
Following is the statement of the several
issues proposed:
Seattle iunding bonds Of isa2. .sisS 90
Seattle ludgrnent bonds OF ls9e 275,0o0
Seattle condemnation award bonds of
Seattle general bonds of 1872 .,.... 24900
Dated April /, 1892: twenty yesr non -optional;
coupons Per cent. payable semi-snnually,
April and October. Principal and interest pay
able in gold coin in New York or Seattle, at op-
ton OF holder. Denomination IS desired.
Seattle water works bonds OF lsaa. sos 0n0
sest'ie sewer ponds OF iss2 -----.--..---. 5000
Dated July /. is92; twenty year nou-optional:
coupons 5 per cent, parable semi-annually.
January and Jaly. Principal and interest pay
able in gold cola in New YORK or Seattle, al op-
ton Of holder Denomination. si.eoo
The funding bonds are for the purpose
OF funding the Indebtedness in the fire and
street funds incurred prior TO March :.
ls9t. The Judgment bonds are for the
purpose of funding certain warrants in the
general and Judgment funds issued in sat
faction of judgments, and amounting to
sos. 600 and for the satisfaction of iudc.
ments sgainst the city for which no war.
rants have been issued. The eondemna.
ton award bonds are tor the purpose OF
satisfying claims against the city on &c.
count Of property condemned for the
G3a% cbLAsEARHAADE Oh streets
The general bonds are for any strictly mn
nicipai purpose, TO be determined by the
city council. The water and sewer bonds
are for the purpose Of enlarging and ex
tending the water and sewerage systems
The city council met in joint session
last night. with president Sweeney in tn,
chair, for the purpose of considering the
recommendation of the auditing commit
tee as TO the bids for bonds. The lobby
was densely thronged, among those pres
ent being several members of the preyiou:
council.
City Clerk SLOVENIAN read a ccmmunica
ton from Comptroller Ferris. inclosinr tn,
bids. DR., J. Il. Kloeher moved that IN,
report Of the auditing committee b,
adopted and the bid OF Blair ( Co. for tn,
full amount be accepted.
L. {, Gilman. on behalf of F. w
Trouuce, said his was the only bid thai
could be accepted, as it was the only on,
which complied with the requirement. a
the resolution, providing that bids shoull
be accompanied by certified check fo
$4,000 He offered the same price now a,
Blair & Co, so that the CITY should no
lose anything. but he must insist on III,
conditions being observed.
r. c. Barrall. for Blair & Co. said thar,
was no reason why any certified checl
should accompany the bid; al competitor
bur one had read the resolution as calm,
for S50ea He offered his certified checI
for So, 900, but denied that any check wa
necessary - legalize the bids
Dr. kloebeF called for the reading O
Trounee's hRi After the reading, h
moved that il be formally rejected. an,
the motion was carried. He ipGeiiatel,
moved 20 seeept the bid of fstsfr ( Co.
Thomas +, shepard sand he had pro
test 10 entaron behalf of Lamprecht & CO
aud of Rollins { Son. He declared tina
the council could select the highest bid.
for the issues from the two offers. whici
Would give 81 ,9tSS.5o more 70 the city than
any OF the Others. Fly selecting the thre,
highest offers made 10y i.amprccht and tn,
three highest made by Rollins. the counci
would set higher sum than by selecting
Blsir's bid. lie argued that those houses