The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1896-07-17
AT A GOOD FIGURE
City Council DiSpOSeS Of Its Refunding
Bonds at a Premium Of Threo Per
Cent for 20 Years.
The Amount Sold at This Time Was
$4,000 and the Balance is Held
for as Good a Figure.
HE COULD NOT WIN IT
HE COULD NOT WIN 1T
F. M. Goodykoontz, a PopuliSt Candidate
for Congress, Vas Defeated at the
State Convention at Huron.
PORTION OF BONDS SOLD,
City Refnnding Bonds Bring Good Fig
ure and Placed at a Premium.


ure and Placed at Premium.
An adjourned meeting of the city
council was held Monday evening for
the purpose of disposing of the city
bond question, The matter was laid
over from the regular meeting to give
another company chance to put in
bid for the full amount of the bonds.
Sealed bids were opened a week prev
ious to the meeting and one or two
agents were present to further their
interests. The bids, however, were
very unsatisfactory in their character,
as nearly all of them were below par,
while others agreed to dispose of the
bonds on commission. and the agents
present seemed to be strongly of the
opinion that the bonds could never be
sold even at par, Auditor Smith made
the statement that the bonds could be
sold at premium Of 3 per cent and in
support of his claim read the CORES
pondence between himself and the
Colonial United States Mortgage Co.
of St. Paul. 1t was not in the form of
bid but was of a private nature be-
tween the parties, but the auditor did
not propose to let those agents run in
bluff of that kind. Monday evening
the Colonial made bid to take $50. 900
OF the bonds at premium of 8 per
cent, to carry interest at per cent and
to run 20 years. The proposition was
accepted. This leaves $4,000 wet to
be disposed OF and as the first lot
brought such good figure it is pre-
sumed that it will not be very difficult
matter to dispose of the balance at a
figure equally as good.
The council granted permission to
DR.. Dix to build structure on his lots
to be covered with corrugated iron.
The sewer, which carries the refuse
from Main street down under the rail-
road bridge into Dry Run, will be fixed
up so that it will not be menace to
the health OF the citizens in that
locality. The sewer proper stops some
distance north of the bridge and the
refuse is then carried to the run in an
open ditch, from which an offensive
odor arises continually A contract
was effected with ). H. Lindahl to put
in the sewer for $50 and he to keep it in
repair for 10 years free of charge.
Sewerage will be put in to connect with
the point where the old sewer ends to
carry it past all the residences in that
section. This has been source of ag-
gravation Of long standing and the
people oyer there feel highly pleased
that the nuisance is to be done away
with at last
The bill of Crane & Dundas was
brought up again at this session and
after some remarks from Alderman
Bracy in opposition to the payment OF
the bill on the ground that it was ex-
tortionate and excessive, and that the
city was not legally bound to pay it,
the council ordered that it be paid.
reduction of S12 being made.
A new lease was effected with L.
Beckwith for his Main street building
for use by the fire department, Mr..
Beckwith having made q reduction of
So per month or the price paid last
year. There was some talk of building
structure for the use of the fire de-
partment but the idea was not practical
at this time and it was abandoned.
The council adjourned until next
Monday evening.