The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-06-02

Utah state securities are evidently all
right, as was evidenced by the bids
filed with the state board of loan COM
missioners yesterday, which were open
ed at O'Clock in the afternoon.
Nine bids were received chiefly from
New York houses, although Boston,
Cincinnati and Chicago were heard
from.
When the hour for opening the bids
arrived there were a great many gem
tlemen present. Mr. Underhill, repre-
senting Edward C. Jones & Co. of New
York city; Mr.. Phelps of the firm of
E. H. Gay & Co. of Chicago and Bos-
ton; Mr.. Bailey, formerly clerk of the
supreme court of Titan, representing
HOLSTER & Babcock of New YORK; Mi.
II. Wykes of the firm of Street, Wykes
g. Co. Of New York; Mr.. Heatley OF the
firm of j. Hayes & Sons, Cleveland;
Harry T. Duke, Glen Miller and many
others.
Although the receiving of bids clos
ed at o'clock, the bids were not open
ed until 3, as stated above At that
hour Governor Wells called the state
board of loan commissioners and an
nounced thai the bids would be open
ed, and that for the instruction of
those present, he would read the ad-
vertisement soliciting the offers made.
( This done, the envelopes were tapped.
I The first offer was from Blair q Co.
of New York City. and came by mail
The firm offered $102.81, or a total of
$205,620, for the entire issue.
Several of the gentlemen who had
| filed offers looked askance at each
other, but Mr.. Underhill smiled as
81 I ~,
| the bid just read had no terrors for
! the house of Edward c. Jones & Co.,
and SO it proved. The firm alluded to
was next reached, and when the read
! ing was finished it was discovered
that the bid was for 104.106 or $685.
! 212.
Rudolph Kleybolt of Cincinnati offer
! ed par and premium of $7,126.39.
Farson, Leach e. Co. of New York
! offered the par value and accrued in
terest at the time of delivery, together
with $3.50 premium.
E. H. Gay & Co. of Boston and Chi
cago bid the par value of the bonds
and interest ITO the date of delivery
and $6,l07 premium.
HOLSTER & Babcock offered 1O1 1855,
or $203,512
Street, Wykes & Co. of New York
City offered 101.29O or $202, $50.
j. Hayes & Son of Cleveland, Ohio,
offered par and a permium of $5,005
Season, Good & Mayer of Cleveland
offered $206000, but enclosed no check
as per stipulation.
The firm offered, in the event the bid
was accepted, to at once forward a
check on receipt of Geographic no
tice.
The bid of Edward C. Jones & Co.
was the highest, and the firm had a
check up for $1,000. But it was a
check on themselves, and one of the
other houses made a formal protest
that the house was not a depository
hence the check could not be consid-
cred.
The members of the board retired
to the governors private Office, and
after a time, sent word out to Mr.
Underhill they would like to see him.
What took place inside the members OF
the board did not care to state, and
| Underhill was very quiet when he re-
appeared upon the scene, but from the
| appearance of large private record
| from BradStreetS, it was presumed that
the financial standing of the house
had something to do with the confer
ence. Underhill wore an air of con-
fidence, however, and says he will get
away with the bonds all right
AT the conclusion of the secret SEES
sion the board announced that it would
adjourn until 8 o'clock today, when the
award will be made
The prices offered yesterday go tc
show that Utah securities are all right
in the east. These bonds are only
per cents, and while they are colo
bonds the prices offered are much bet
ter than those paid for securities from
many of the older states.