The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-05-26
BIDS FOR eEoRGIES BONDS.
A CINCINNATI FIRM GETS THE Is
SUE OF Is AT 1O5.54.

Eleven Bidders in the Field for the
Issue and bids Put In ON Both
and N 81 Per Cent. Basis-The
Most Advantageous Did for the
state Made by an Augusta Broker,
but II Could Not De Accepted.
Atlanta. Ca, May 25.--At noon to-day
Gov. Atkinson and State Treasurer Har-
deman opened the bids for the Issue Of
$4,000 of Georgia state bonds. to be sold
10 meet the public debt maturing July 1
next. Tho bids were opened in the pres
ence OF the representatives Of the various
bidders. IN the office Of the state treasurer.
The new bonds win run for a period Of
thirty years. and are payable In coin
that is, either gold or silver. as the state
may select. Under the act authorizing the
issue # Is stipulated that the bonds should
not be sold for less than par and shah
bear interest not exceeding 4 per cent.
per annum. The maturing bonds, to meet
which the new bonds are TO be issued, or
rather tho proceeds therefrom. bear Z
per cent. interest
Gov. Atkinson made trip to the east
TWO or three weeks ago, negotiating with
investors 10 secure bids for the issue, and
the result shows that his trip was not
without effect Ele was anxious to see
the bonds remain at home but for the
best interest Of tho state sought to secure
the highest possible bids for them from
all sources. several Georgia bids were
received, but the highest came from out
side investors, indicating the good credit
OF the state abroad
Eleven bids were submitted, although
one, that Of S. A. keon Of Chicago, was
thrown out because Il was not aCcompa-
MED by the required certified check for
$3'OJg. -Four Of the eleven bids We're made
py Georgia parties. abe highest bid being
from Rudolph kleybolt q co. Of Cincin-
nau. For the per cent. bonds they BID
a premium Of 5.J4 per cent They viii
probably get the entire issue, though GOV.
Atkinson viii not pass upon the bids until
The bid that would be the best in the
end for the state came from John w.
Dickey OF Augusta, though under the
cepted. This bid was for 3ik per cent.
bonds at S9T69 for each bond of 81 900
This was "A little less than par for the
~ per cents, but, as the law stipulates
that the bonds could not be sold under
par, II could not be accepted. although,
IN the long run, 1t would mean $4,000 or
more IN the pocket of the state than the
sale OF the 4 per cents, at the premium
offered by the Cincinnati people
Following is a list of the bids In full
e. j. Shepard or New York, for the 4
per cents, 1925; for the 3is per cents.
80, the bonds to be delivered In New York
w. j. Hayes a. Son Of Cleveland, o.,
$1,000 bond.
Lamprechet Bros. & Co. Of Cleveland,
o., for the 4 per cents, lO3 60 for $4,000,
with the privilege Of the whole issue.
Rudolph Kleybolt & Co. Of Cincinnati,
for the per cent, Ya05b4; for the 3k per
cents, the same proportion.
Deitze, Dennison & Pryor OF Boston,
for the per cents, par and 5000 premium
on the whole issue; T or the 31a per cents.
par less a commission Of asa
Edward G. Jones a Co., of New York,
for the 4 per cents, 1O2. 10.
John w. Dickey of Augusta, Ca, for the
4 per cents, l050S; for the 3A per cents,
$9T1.69 for each bond.
Third National Bank of Atlanta, for the
4 per cents, 10l 1-l6
George w. Parrot OF Atlanta, for the 4
per cents. 1875.
George A. .speer Of LAGRANGE. for the 4
per cents, 1Ol.
The bid Of Keon & Co, which was
thrown out, was 1920 for the per cents.
Two classes Of bonds were advertised, 4
per cents and 3l8 per cents. The law fixed
four as the maximum rate of interest to
be paid, but Gov. Atkinson hoped to be
able to float the bonds at 3jk, so he asked
bids for that issue also. Under the high
est bid for the 4 per cents the actual in
terest that will be paid by the state, taxi
ing the premium into consideration, will
be 1O-l09 per cent.