The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-06-30

commissioners. yesterday, and the au-
ditor was instructed to readvertise for
new bids.
There was feeling prevailing in the
board, which exists yet, that there was
a sort of collision existing somewhere.
The bid of the house which was rep
resented by the redoubtable George
Penhale, who vas here some years
ago as agent for Z. H. Rollins & Sons,
was an ambiguous document, and
when Penhale was called upon to eX-
plain, he didn't explain worth a cent.
He couldn't tell which way his bid was
written although he attempted to.
It's quite d long story, but ii will
have to be told.
The members of the board were all
present when Mrs. Auditor Game came
in with the bids. There were nine of
them ali told, and all, with the excep-
ton Of one, were for the full amount
of the issue. incidentally it may be
stated the agents for the several houses
were there also. Banker MCCORMICK
who had a bid in, was on deck, as was
Mr. Young of the Deseret National
who likewise had an offer sealed up in
an envelope.
THE BIDS.
When the bids were opened and di-
form, it was found they averaged up
as follows:
Mccormick & Co. offered to take the
entire issue and pay 200 premium;
Dieiz, DennisOn & Pryor of Cleveland
O.. bid on the entire lot and offered
s47 extra above the face value of the
securities. Mason, Lewis & Co. of Chi
cago said they would take the entire
works and pay S2.724 premium. This
was S24 above Mccormick, and was re-
garded as q good omen. Joseph Sond-
helm of this city said he would take
1900 at par. Farson, Leach & Co.
of Chicago said they would take all
the bonds and pay $1,000 premium. z.
II. Rollins & Sons, Females old en-
ployers. offered $3.50 premium on the
entire lot. r. Pleipolte &, Co of New
York City wanted the issue and bid
par and S1,257 premium. W. }. Hayes
& Sons of Cleveland, the house which
Penhale is working for. said they would
take the lot and give $3.50 premium.
The Deseret National offered par for
the entire issue.
The bid of W. ]. Hayes & Sons was
as follows: For the 120 Salt Lake
county refunding bonds. numbered l to
100 respectively and inclusively, we viii
pay you par and interest and a pre-
MUM of $3.50" This was signed by
the firm name. per George Penhale
check for S6,305, drawn by L. s. Hills
in favor of w. S. Mccormick, and by
him endorsed.
After some little consultation it was
agreed that the board should adjourn
and meet again at 2:3O, which was
done.
When the board met Commissioner
Hall introduced a resolution accepting
the bid of w J. Hayes & Sons of
Cleveland. far par. interest and pre-
MUM of $3.50 per bond
FEMALE KICKS.
This brought Mr.. PenhaIe to his feet
with remonstrance. This premium,
he said, was for the entire lot and not
per bond, as was sought TO be con-
strued. Mr.. Penhale was very earnest
in his conversation, and did not want
the board to be deceived. Oh, no. That
would never do. The reputation of his
house was such that it would not I'M
dertake to deceive anyone in a matter
of this kind.
There was considerable sparring. if
that is a good word, over the matter,
Commissioner Hall asking several
questions. The replies of Mr.. Penhale
We're not of a nature calculated to shed
light upon the case. and Hall finally
blurted out that the bid looked TO him
to be one Of those peculiarly worded
affairs which read both ways. If the
bid Of any house happened to say
S104l5 then Penhale would be able to
say the premium offered was s5060 per
bond If they were away low, then
he could fix it so the bid meant the
entire issue.
Penhale didn't get much encourage
ment from the board when he again
attempted to explain and after some
more talk the board moved TO reject
all the bids ard instruct the auditor to
readvertise for new ones.
THEN EDWARDS KICKED.
r. ]. Edwards, the agent for Mason.
Lewis & Co, was on his feet with a
protest Immediately. He declared it
was not fair. His house was the next
best bidder and should be given the
bonds. Mr.. Edwards did very we'll as
an orator and made a good showing.
But the board said him nay.
Mccormick. too, had q kick coming
He wanted the bonds. He had a good
bid in, too, and he protested that he
should receive consideration. But the
board gave him merry ha ha and he
retired telling the story of the circuit
rider, who after sending his hat
around the congregation for a con-
tribution. and getting none, thanked
God he had recovered his hat"
The balance Of the bidders did not
make any vigorous protests and Mr.
Penhale ceased very suddenly after the
motion TO reject all bids had been
adopted.
The auditor was instructed to prepare
a new advertisement, under the direc-
ton of the county attorney, and re-
advertise for new bids.
COMMISSIONER HALLS VIEWS.
The county commissioners labor I'M
oe- the suspicion there was "a niger
in the wOodDile.' In the presence Of
evening: I should hate to tell what
think about this matter. It appears to
be the bidders. or some of them.
thought they would get these bonds at
a very low rate by practicing a little
scullduggery, but they did not Pen
hale's bid was written 10 read both
ways II any house had bid up to
$1.O5 he could have arose and said the
offer was so much premium per bond.
As il was he was evidently interested
another way. We came to the con-
clusion we would not be trifed with
and rejected the entire lot OF bids,
y want TO say before we get through
with this matter we expect to get S1.05
for these bonds. They are worth that
much and the buyers will give that for
them when they find we do not propose
TO be trifled with. They buy these
bonds and sell them all the way from
$l07 TO S1.l1 10 those who seek good in
vestments for their money at low rate
Of interest. Those people back east
who have money in small amounts
which they want TO loan.
Sc far as am concerned, I believe
we should have forfeited Females
check but that Wou1d have led 70 a