New-York tribune., 1896-11-17
HOW WILSON GOT THE BONDS.
HE HUSTLED AROUND AND COT A MARKET
~ \ FEW HOURS.

When r. b. Wilson. the NewYo bond broker
who bought nearly s2co"O OF Brooklyn bonds
about ten days ago and rctailed them around
Wall Street. making IiDn without much apparent
capital 20 do business puts In another bid for
brooklyn securities II he ever does. he will be
likely TO undergo rigid cfoss-cxamination with
reference his ability to pay for the bonds on the
day appointed.
II was learned last night that he narrowly missed
securing the bonds on" week ago to-day through
hts inability 10 raise until at the very last the
large sum required. But Mr.. Wilson proved him
self an exceedingly energetic. active and enter
prlsng person in this particular case. and sue
ccrded I'm the short space OF two hours on Tuesday
last in securing market for nearly million and
a quarter of the bonds. which. mp to noon on that
day he had not obtained purchasers for.
The total amount OF the bonds was sl.s79o0o. and
Mr. wilson's bid OF 1855 was the successful one.
That was Thursday following election. ON Friday
the award was made to Mr. Wilson lie had from
then til Tuesday Of last week 70 raise the money
and take his bonds
ON TUESDAY, at about t. o'clock. his lawyer. Mr..
Chandler. t.lcphoncd to the Controllers office In
brooklyn. saying that Mr.. Wilson had In hand
ss7iO. and he asked FOR few days grace to raise
the balance. Deputy Controller George II. Rowe.
who was I'm charg@ OF the matter owing to the
illness OF Controller Palmer told Mr. Chandler that
he would not Hait a minute after the time was up.
bur would apply the $4,000 far as II would so
and dis pose remainder OF the bonds TO other
bidders.
Before o'clock Mr. Wilson on hand at tho
controllers Office with "A certified check for 81 s95.
Iis 80 on the Bank OF Commerce. this being the price
OF the bonds with the premium added. When Mr..
Wilson got back TO Wall-st. he got an offer OF
$1,000 for his bargain but refused II. demanding
$aig0
But for the fact that New-York City's big bond
sale had been held the day before. and that there
WAS n number OF bond buyers looking Tor secur-
flies IL is generally believed that he would not
have been able to dispose OF the Brooklyn Sccur-
firs and the sale would doubtless have been de-
clarcd of.
Deputy Controller Rowe asked by n Tribune
reporter Yesterday II there was any way TO safe
guard Irooklyn's interests In bidder was
unable TO pay Tor bonds for which he had bid. lie
said
Under the provisions OF our city charter there
IS no WAY TO require n deposit certified check.
az Is done In the city Works Department when con
ing and acting like tramp or lunatic we might
be justified I'm ignoring his bid. but not otherwise:
Mr. Wilson's bid the most busineSske OF all
those submitted. remarked by the Mayor
and others when the bids were opened In this case
II Mr. Wilson had 'flunkcd. the city might have
been loser I'm the sum OF about $1,000 the amount
Of the bill for advertising. which would have been
ment to the charter to be Introduced at Albany this
winter which will require that n certified check
accompany bids for bonds but II Is doubtful if any
thing will he done. I ne grumbling about Mr.. VIII
sons action comes largely. presume. from fellow
brokers who sore over being outgeneralled