The Providence news. (Providence [R.I.]) 1891-1906, 1896-05-22
Net Premium of $97,67O
on TOday'S Sale.
There Were IS Bids Ranging
From 1O1.75 10 114.61.
Awards Made to Kidder, Peabody Il
Co., and to Prov. Inst. for Savings.

Kidder, Peabody & Co., or BOSTON, and
the Providence institution for Savings
were the successful bidders for the city's
bonds, issued to day at ~ O'Clock.
The Boston concern touk lhe entire lot
of $500, coo sewer bonds at 1850 at which
figure they bid for all or part, snd the
Providence Institutions for Savings took
the 900, 900 Of water bonds, which is all
their bid called for at 1146l.
The net premium to the city on both
lots is s97, go, which is Immediately
placed III the sinking fund.
The average price is Sl13. 952s5.
TIE bids came from the leading con-
&C. ms in Boston, New York, Chicago and
Providence and were SO close that the
difference between the top bid and the
next one would amount on the ent ire lot
TO only $3.50.
All OF the bids were opened at noon
md connsidered by City Treasurer
Granger and the members of the finance
committee. They were well satisfied with
the confidence shown in the city's credit
by the prices offered.
The last lot of bonds issued by the city
were for IL, 100,0Q on sewer and school
loans, and the whole was taken by Blake
brothers OF Boston at sl13. 952.
Tocay's awards were announced at
O'Clock by Chairman Phillips OF the
finance committee.
The bidders were as follows:
Richardson & Clark, 1l2. 12I for $500, 600.
Industrial Trust Co., sl09. "a for 800, OOO
Cushman, Fisher a. Phelps, l12.637 for
100000.
J. P. Morgan & Company, lilo for
500. 900.
,ol BleSgs,,s .sdg Sas Merritt & Company, ils. 2ss
Il. c. stanwood d Co., 1Il.5l for 300, :
000
s. A. Kean, Chicago, 1ol.75 for s7oo, ,oOO
Kidder, Peabody q Company, 1880 for
all or part.
T.. II. Rollins Il Son, 112 10 for 200, 600.
Farson, Leach Il Co., 110.27 for 800. .0OO.
Bertram & Stores, 109. 76 for 800, 900.
III. 5. Homer u Co., 111.237 for 300, 00o
S7O0,OOl
N. L. Trust Company. ioo,s s5 for all or
none.
". L Quintard, III. 70 for 300, 900.
ID. A. Moran & Company 026 for
$500, 600 and 1.07 for 500, 900.
+. Beekman Underhiil, ll0.51 for $780,
600.
Blake Brothers q Company, HAST for
all or none.
Easterhroc'; & Company, 1889 Cor all
or none.
X. L. Day & Company, I12.7es for
600, 600, ll2. b6s for zoo, 0oo and 1l2. 329
for 1900, 900.
Providence InstitutIon for Savings,
114.61 for 200, 600.
"a. W. Biglow offered eleven different
bids ranging from 109.277 to 113 2S5 for
the whole amount in three lots of 800, 900
each and eight lots of $50 0)0 each.
r.. Rollins Moss and Brother made seven
bids for the entire lot, the average being
1925.
Both series of bonds will be dated June
/, 1896, will become due June ], 1926,
and will bear interest at the rate OF four
per centum per annum, paya bic semi an
nusliy in June and December. Both
principal and interest will be payable in
gold coin of the United states. equal to
present value OF fineness ana weight.
Either coupon nonds OF $1,000 each or
registered bonds In sums OF $1,000, $4,000,
s1O, 600, or $50, 900 each, as desired, wili
be issued for the whole or any portion of
the loan, and couTon bonds may at any
time thereafter be converted into regis
tered bonds OF the above denomination
al the option OF the holder. The princi-
pal and interest OF coupon bonds will be
payable at the treasury in Providence or
at the National City Bank OF New York.