The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-10-16
THE BIDDERS, NINETEEN
WHOLE ISSUE AWARDED TO
ESTABROOK AND co.
nDs OPENED AT NOON YESTERDAY
ARepfesentative Of the Successful Bidders in
Raleigh yesterday--As Soon as the
firm Examines Papers, Money
Will be Sent.

Every citizen of Raleigh is proud OF
Ais home. 5 ii asts 45
There la particular reason now why
syery taxpayer should be proud OF the
Aixh credit of the city as manifested
Yesterday in awarding the new issue OF
$4,000 worth Of city bonds.
The bonds were all sold to leading
arm OF Boston Observation-Disclosures Il
Company, who were the highest BID
1ers Their bid was $1O9327 per 500
axgregating $54, 1902 and fraction for
the fifty Thousand dollar issue Of bonds
voted last month.
While gratifying to the city admins
Hration and the whole community the
handsome price brought by the bonds is
garticularly gratifying to the popular
city treasurer, Mr.. Joseph G. Brown. He
was instructed to sell the bonds and no
advertisement was made Of the sale
outside of the city papers. Mr.. Brown
mt himself in correspondence with men
Of means and banks in all parts OF the
eouItry, and as result Of his wise
presentation of the value of the bonds,
the city realizes a premium of $4,SO2 on
HE issue Of $4,000, which proves how
good a thing it is to have an excellent
and well managed city government.
The bids were opened yesterday at
noon at the Mayors office. There were
prese Z Mayor Russ, City Treasurer
Joseph G.. Brown, Commissioner of the
SinF;ro Fund B. r. Lacy, City Clerk
lei. r. Smith, Chairman ]. ID. Boushall,
of the Finance Committee of the Board
of Aldermen, and State Treasurer
Worth. Among the bidders who were
present were: Mr.. Butrick, of Boston,
representing the successful bidders Esta-
brook 4 Co.; Mr.. Seymour, of the firm
of Seymour Bros & Co., of New York;
r. NJ. Pearce, representing the Penn
Mutual Company.
There were nineteen bids as follows:
Rudolph, Kleybotte & Co., Cincinnati
$10S.21 and interest.
Owen, DAILY & Co., of Baltimore,
$1O5.11 and interest.
w. j. Hayes & Sons, Cleveland, o.
91O5.74 and interest.
Sperry, Jones & Co., Baltimore
$108.76 and interest.
Blair & Co., Of New York city
$f08.27 and interest.
e. ID. Shepard & Co., New York
t108.O3.
Fielder 4 Co., of New York city
91O7.00 and interest.
Citizens National Bank, Raleigh
10000.
Seymour Bros. & Co., New York
31O7.t1 and interest.
Penn Mutual Life Insurance Co.
e1O7.61 and interest
Estasbrook & Co., Boston, $109.327
and interest.
O. Fl. White 4 Co., New York,
$T06.25 and Interest.
Fidelity and Deposit Co., Baltimore,
t1O8.39.
Mason, Lewis & Co., Chicago, $106. %
and interest.
Diets, Denison & Prior, Cleveland. o.,
$1OS.37 and interest.
8. A. Kean, Chicago, H., $1OO.125.
o. Hardy, for Norfolk National 'bank
go bonds), $1O7.
w. 8. Blanchard, of Boston, 10
1onds), $1O7.75.
Phoenix Mutual life Insurance COM
pany go bonds), sos.
Mr.. Butrick, who represented Esta-
brook " Co, Of Boston, who were the
! successful bidders, secured certified CO.
pies of .he act under which the bonds
were issued and all other matters relat-
ing to authority, publication, voting &C.,
and left last night for Boston.
The last bonds sold by the city of
Raleigh brought $1O6.95. This brings
nearly 'hree cents more in the dollar,
showing that Raleigh's credit is on ris-
ing ground.