The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-08-07

Farson, Leech & Co. have decided to
take the SS5O,OOO in county bonds, and
today the clerk and the county attor-
ney will begin the preliminaries, which
will consist in the preparation of an
agreement in accordance with the
terms of the letter of acceptance, writ
ten by the firm, and the getting up of
a certified copy of the, records bearing
upon the case.
1t was thought at one time yesterday
that the deal was off, and Commits
sioner Roberts, who was in Bingham
making the needed change in wearing
apparel, which he insisted upon at the
last meeting, was telephoned to ana
so informed. AS result he dld not
come to the meeting last evening,
which was held at $50, and only Chair
man Geddes and Commissioner Chris
topherson were there.
The original purpose of this meet
ing was to formulate a new advertise
ment and have the same circulated.
But Mr.. Wells got a movement on MIN
self, and when the meeting convened
he announced that he had the author
ity to close the deal.
The firm wired him early in the day
that it would take the bonds on the
following terms:
Twenty-Five on September /; % on
October 1 $50 or or before December
l, and the balance on or before Feb
ruary 1, 1897. The telegram containing
this intelligence said in addition:
Probably arrange earlier delivery II
funds are needed. All bonds shipped
to Illinois for delivery"
This did not suit the commissioners,
and Mr. Wells was informed that If
his firm could do no better than that
the deal was off, and that new adver-
tisements would be issued.
Whereupon he sent the following to
his firm:
commissioners give me until to-
day to sign contract. Take so on de-
livery September TO and 300 on or be-
fore December; otherwise will readver-
tise the sale. This is final. Their Off
cial terms expire January 1 and must
close up business before. Answer spe-
cifcally authority to sign agreement
if you want the bonds.
Then it was that Mr.. Wells did some
walking on the floor He was anxious
to close the deal, and it was with great
anxiety he opened a telegram from
the firm, which was received some
time about 5. 1t read:
"All right; we accept bonds at terms
stated. Please sign agreement to this
effect. FARSON, LEIGH & CO."
When the commissioners assembled
1t was evident that Mr.. Wells was
pleased. The commissioners acted, too,
as though a load had been lifted off
their minds, and asked the assist
ant attorney, Mr.. Waite, who was act
ing for his chief in the matter for adj
vice.
AS a result of the consultation a
resolution was introduced by Mr.
Christopherson, accepting the offer and
directing the attorney to draw the con-
tract. Further that the bonds be da-
ted August 1, which will not lose as
much of the accrued interest as would
be the case were they dated July 1, as
was at first intended. The resolution
further directs that the bonds be pre-
pared by the United States Mortgage
and Trust company of New York, and
that the proposition of the firm be and
it is hereby accepted.
This resolution was passed by a quo
rum, and at the next meeting, which
will be held on Saturday, the vote will
be taken over again at the request of
the firm, so that all matters will be
regular and to the satisfaction of the
firm.
The clerk will go to work this morn
ing on certified copy of the records,
copy of the law will be procured,
and these, with the contract, will be
sent the firm on the evening mail on
Saturday evening. There being no
further business for the board to trans
act, the board adjourned until tomor-
row afternoon at 4.