The weekly tribune. [volume] (Great Falls, Mont.) 1891-1894, 1894-08-24
THE SCHOOL BONDS ARE SOLD
AT the Special Meeting Of the School
Board to Mason, Lewis Il Co.,
Chicago.
They Bring a Large Premium
Special Tax of One and a Half
Mills Ordered.

The school trustees assembled in
special session Monday noon to open
bids for the $4,000 in school bonds as
advertised by them. The following bids
we're recorded:
j. ID. Mccormick of New York, par
aud two and a half per cent premium
flat.
Mason, Lewis a. Co., Chicago, accrued
interest up to July |, 1894, and S2,lO0
premium.
W.. G. Conrad, accrued interest to
July l, 1894, and SLIGO premium; &C.
crued interest up to July l, 1893, and
$500 premium; $1,000 premium.
w. j. Hayes e. Son, $3.50 premium.
The bid OF Mason, Lewis Il Co., OF
Chicago, was accepted as being the
best.
The bonds bear interest from May l,
1893, at 6 per cent. The last named bid
der, w. j. Hayes a. Son, bid them in
more than a year ago for $3.50 premium
and then refused to take them on the
timsy pretext that they were illegal be-
cause the names of the president and
secretary of the board we're signed by
Autograph on the coupons instead OF a
pen, although the body of each bond
bore genuine pen signatures OF these
officers.
The secretary of the board was in.
structed to notify the successful bidders
that their bid was accepted conditioned
on their being prepared to pay the cash
down not later than loon of Saturday
Aug. %, at Great Falls.
The question of a special tax levy was
brought up and after discussion it was
decided to ask the county clerk to add
to the assessment roll Of the property in
school district No. l, a special tax levy OF
~ mills for the purpose Of paying inter
est on bonds and sinking fund. The in
terest on the outstanding bonds is
SAIL and to this is added the accumu
lated interest on the $4,000 of bonds
sold yesterday, which bear date May |,
1893. This makes a total of about S9,222J
for interest, and as the special levy will
bring in a little over $4,000 it will leave
a small balance for sinking fund. AS
the interest on the $4,000 of bonds just
sold will come all back as premium il
can be covered into the general fund and
thus become available for expenses.
Last year the school board had D mills
on a much larger valuation, 60 that the
present levy Of Az mills in all for school
purposes means a considerable cutting
down of the amount taken from the tax
payers Of the district.
The question Of letting a contract at
once for the new high school building
was brought up by Trustee Holmes, and
in the course of the discussion it was de.
veloped that the plans for construction OF
the school house had been lost. AS the
architect had preserved blue prints from
the original, however, the damage was
not irreparable. Architect White is
10Y at work making a new set of draw
ings from his pencil tracings and the
blue prints. In the discussion as to how
the plans got lost Trustee Gockstettel
took exception to some remarks which
threw the blame on the old school boarC
and a lively debate ensued. 1t wal
finally decided to leave the question o.
letting a contract for the high schoo
building over till the next meeting
which will be on Saturday at Il O'CLOCK
noon.
The board then adjourned.