The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-08-16
Looks as Though There Tight be
Hitch.
MAY BE DECLAREDALL OFF
POINT ON WHICH 1T HANGS SEEMS
UNIMPORTANT.
Unless Farson, Leach & Co. Send in
Positive Acceptance of the Con-
tract By Monday, New Bids Will
Be Called For-incouraglng Adj
vices Have Been Received.

There is an apparent hitch in the
county bond deal and at the present
sitting it looks as if the commissioners
Will readvertise for bids It's all due
to a technicality in the contract, which
while signed by the bond buyers agent
here, has not been accepted by the firm
in Chicago.
When the bond deal was closed a
week or so ago the contract called for
the delivery of the bonds by Sept TO-
Shortly afterwards 1T was found that
1T would be exceedingly difficult to get
the form from the engraver by that
tlme-ln fact it has now DEVELOPED
that it can not be done Before the
contract was signed and forwarded to
F'arson, Leach 81 Co., the commission
erS changed it SO as to call for the
delivery of the bonds ION or about
Sept 10 This change was accepted
by the firms agent here and. he signed
it and forwarded the contract and
other papers OF his firm
But days passed and Farson. Leach
d co. failed to respond. Finally day
before yesterday Commissioner Geddes
teIegraphed the firm and received a. re-
ply that they had taken the naatseq.
under advisement for few days This
dld not satisfy the commissioner and
MIR. Geddes at once sent the following
telegram:
Farson, Leach & Co., Chicago. III:
Contract closed and signed last Sat
urday and forwarded to you with pa
pers and records complete. Have Won
received, signed and returned contract
to us? Answer.
A S. GEDDES.
10 this the following response came
yesterday:
Hon A. S. Geddes, Chairman Board of
county Commissioners:
Telegram received. Will advise YOU
definitely whether will accept change
OF contract within few days See
letter FARSON, LEACH &. co.
Inc letter referred to has not been
received and presumab bly, it does not
matter much, for last night Chairman
Geddes forwarded the following point
ed dispatch:
Farson, Leach & Co:
Positive acceptance of contract as
forwarded to you must be received be-
lore Monday at p. M, or dead will
be declared off and will readvertise.
A. S. GEDDES.
Thus the matter now hangs fire and
the chances are about six 70 half a.
dozen that the deal will be declared
Off and new bids advertised for. In
case the latter course is pursued the
probabilities are that better price can
be secured for the issue.
A few days ago the commissioners
received an offer from the cashier of
the First National bank of Chicago TO
take the entire issue at once at par.
rms Is a better proposition than from
larson, Leach & Co., who only take
$oO,000 at once and an option on the
balance for four months. It is believed
tnaG the cashier referred to represents
private investors But even if this
proposition Is not closed, encoura ging
adVlces nave been received from east
ern BOND houses indicating an i'm
provement in the bond-selling outlook
The matter will come up at next Mon
days meeting of the board when some
action Will be taken. If F'arson, Leach
d Co., does not come to time the deal
Will be declared off and new bids called
for.
Mr.. Geddes was inclined to view the
matter in an encouraging light and
from the tenor of his remarks would
rather have the present contract de-
clared off. He believes the firm does
not in reality object to the change in
the contract but that their delay in
signing it is simply for the purpose of
gaining time in which to place the
bonds at advantageous figures.
Should the board decide to resdver-
tlse for new bids the prospects are
good, as it has been decided that Whit
te1nore shall lot go east to try and dis
pose OF them; hence the deal will finally
be closed.