The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-04-13
BIG BID FOR THE
SCHOOL BONDS
Highest Pric: Ever Paid for the Like in
Pennsylvania.
THOSE WHO HANDED IN BIDS
Cyrus Peicrce, of Philadelphia, Got
the Entire Issue of sI20,OOO--Thc
Board Reconsidcrcd the Action
Taken at the Last Meeting and
kwardcd Contracts for Erecting
New Nos. @, I5 and 2S--PIans for
No. 20 Annex Approved.


school district bond in the state of
Pennsylvania was received last night
~ the board of control for the Sl20,000
issue Of Az per cent. redemption bonds
of the Scranton school district. The
bid was 81 POI or par, accrued interest
and n premium of $l4,412 and it was
made by Cyrus PcierCe, of Philadelphia.
| There were twenty bids in all and the
| majority of them were over $ll0 or 500
premium on the thousand. The bids
| were as follows:
W. II. Hays & Son, Cleveland, Sl.1lO7 or
| s13,2S4 premium.
| II. c. Shafer. cashier Scranton Savings
bank, $13O,2l3 and accrued interest, CT
| S1O,2l3 premium. -.'
John II. williams, Scranton, $i.Oi and ac-
crued interest for 5000 block of the
| bonds.
II. l.. Day & Co., New York, s11Oi23 and
| accrued interest. or sl2, ,l54 premium.
| Cyrus Peiercr, Philadelphia, par ac-
crued interst and ea premium of 81. l2Ol or
| $l44l2.
D!ctz, Dennison & Prior, Cleveland and
Boston. S133,Oi4.60 in addition to accrued
interest, or a premium of sl3,OH.6O
+. II. Gay g. Co., Boston and Phladel-
phia, s1.09 33-lOO par, accrued interest and
| premium equal to 1871, 199. 80, or premium of
| 81, 1886.
n. w. Harris & CO., Chicago and New
York, $1.1O67 and accrued interest, or a
premium Of 2.S0i.
Rudolph KIeybolte e. Co., C.ncinnat.
o., $l,lOl39 and accrued interest or a pre-
mirm cf Sl2l66SO.
Farson, Leach & Co., New York and
| Chicago, Sl.l0537 with accrued interest, or
a premium of $12Gii.
Leland, Towel d Co., Boston, $l0S2, or
| q premium of Sl0,50)
|. w. Sheriff. & Co.. Poughkeeps!e, n. Y,
S1O9O7 with accrued interest, or a premium
of SlOSSi.
Lamprccht Bros. & Co., Cleveland, o.,
$12,75O premium and accrued interest
T.. c. Jones & Co., New York and Phi.a-
delphia, S131, ,772. or premium of S11,772.
+. C.. Stamwood & Co., Boston, S.1li7
with interest, equalling a premium of $l3,-
76i.
L. d. Shepherd & Co., New York, $l,O9 2-3,
or $ll 600 premium.
| c. II. White 6 Co., New York, $l.1o 2l-lO0,
or 81, $50 premium.
Sailor, Stephenson & Co, Philadelphia.
of $S,4l2.
| l.. II. Rollins & Son. Boston, S1,l1S2 and
accrued interest, or a premium of $l4,la.
Mason, Lewis & Co., Boston & Chicago,
$1,O73l with interest, or "A premium of
SS.772
| lOWnSenu, W neldn N 10, ln.ld1Clpiia,
$l.0S, or premium Of $500.
COMMITTEES ACTION.
The bids We're referred to the finance
committee, with instructions to report
forthwith. The committee returned
and permitted the bidders who were
present to come in their turns and be
heard. SCmc took advantage of the
Offer but the most of them went their
way, satisfied that it was useless to ar
que against the big bid of the Phladel-
phia man.
The committee, after a short delibera-
tion, returned and reported in favor of
awarding the bid to Cyrus Peierce, with
the provision that 6 per cent. of the
purchase money be deposited to the
credit of the school district at the
Scranton Savings bank before the close
of banking hours T. day. This .ecom-
mendatiOn was adopted unanimously
The bonds are of the denomination
of az per cent, and have an average
life of twenty-scven years and eight
monthg
on motion Of Mr. Jacobs. seconded
by Mr.. Davis the board reconsidereC
it's action of last meeting in postpon-
ing the awarding of contracts for tbs
contemplated new buildings, Nos. 6
L. and 2S. and after much discussion
adopted the minority report of the
building committee awarding the con
tracts as follows: No. 6, Mulherin &
Judge, $l9,655; No. II, Conrad Schroc
der $20,4ll; No. ~. Green Ridge Lum
ber company, S23,4S4.
Mr. WOrmser protested against the
consideration of the bids until aftel
the tax levy had been made, which
consideration occasiOred the postponed
action originally. Mr.. Davis gave al
the reason for the change of sentimen
among the members since last meet
ing that they thought 1t best to lost
no time in starting the buildings ST
that they could be completed befor,
Sept. /, and thereby do away with tn,
renting of anneXcs.
Mr.. Welsh prccipitated lr lGthy dis