The Indianapolis journal., 1897-04-01
PARK BONDS AT PREMIUM
CITY RECEIVES s26.347.5O ABOVE
PAR FOR THE s350.0OO ISSUE.
Indiana Trust Company the Purchas-
ers--BOard Will at Once Begin
Purchase of Land.

The Board of Park Commissioners met
yesterday afternoon TO discuss initiatory
steps toward purchasing park lands in
view of the fact that s3163i7.j0 will be
available within the next ten days or two
weeks, as the entire $3.50, 900 park bond issue
authorized by the Council was disposed of
yesterday at the first figure TO the Indiana
Trust Company. of this city. The money
will be paid over as soon as the bonds are
ready for issue. Burford & Co., of Indian
apolis. have the contract Cor printing the
bonds. and Controller Johnson expects to
have them in the time named The price
offered by the trust company gives the city
premium of s26,347.5O for the bonds. little
over ~ per cent. The Park Commissioners
were very jubilant and enthusiastic yester-
day afternoon as a result of the sale.
With the exception of Edward F. Clay
pool. who is absent in California. the entire
board was present yesterday. including
Messrs. Lieber. Perry, English and Holt.
J. c. Power the park engineer, also at
tended the conference. The board had
barely got to work when Ii sent for Messrs.
Smith and Korbley. to consult on legal
matters connected with the park purchase.
The conference took place behind closed
doors After IL ended ii was given out that
the board will begin at once purchasing
park lands where that can be done by
agreement 1t is believed that the board
will have no difficulty in securing the sites
proposed at the figures set by the apprais-
ers. who have not vet completed their re-
port. In the ordinary course of things. If
the board were to wait for advertisements
and other delays. ii would be well along
toward the end of summer before any land
would be in actual possession of the board,
and but little in the way of Improvement
could be accomplished this year. By COM
ing 10 an agreement with property owners
the board hopes to avoid delay and~fitiga-
| ton. Inasmuch as the board has arbitrary
| powers. can condemn and take land at its
pleasure, it is believed that but little oppo-
stion will be met when fair price is Of
| fered
| Members of the board said after adjourn
ment that it would probably be two weeks
| before the work of the appraisers would be
| made public. Meantime nothing will be
| given out concerning the price that has
been fixed by the appraisers for the differ
| ent sites, nor concerning the basis OF
| awarding damages and assessing benefits
| on other lands. From expressions made it
| is certain that the board intends to acquire
| and improve as much land as possible this
summer.
The board directed Mr. Power to advertise
| for proposals for the privileges of Garfield
| Park. including boating and stands for light
1 refreshments.
Controller Johnson and Mayor Taggart
| were sanguine beforehand from the large
| number of inquiries that came in regarding z
the sale of the bonds that good premium
| would be obtained but they hardly ex-
| pected the premium TO exceed per cent.
| Mr.. Johnson said at the cabinet meeting
| that the bond buyers told him the time
chosen TO sell the bonds could hardly have
| been better if the city had waited ten years,
and they seemed TO think that the top
| notch had been secured The State of
Indiana has no bonds outstanding that
| draw more than per cent. interest.
Each of the seventeen bids received was
| accompanied By certified check of $3.50
to guarantee good faith. Below are given
the bids:
Indiana Trust Company indianapolis q.
| L. FrenzeD. s376.347.50. 1.0752 per cent.
c. ii. White & Co. New York Up. T.
White), 1874 HS25.5O. 1:O6s5 per cent:
Street. Sykes & Co., New York. s373,4Ss.
w. j. Hayes G. Sons. Cleveland C. F.
PenhalD; $s7l Sl5 l,osoS per cent u, =, i,
Ensign). s37O.697 1.O5ss per cent.
E. II. Rollins & Co, Boston (G. H. Tay-
lor). 1857 1855: 1.O579 per cent.
Indiana National Bank Indianapolis (E
L. Mckee, 1856 666. 10467 per cent.
Campbell, Wild & Co, Indianapolis; Es-
terbrook & Co., Boston (CampbelD, $780,
Kidder.. Peabody & Co. New York; Ma
son. Lewis & Co, Chicago "a. w. Howard)
$564, ,675. 10il9 per cent:
CampbelD, $364.675. 10419 per cent.
Farson. Leach & Co. Chicago "a. w
Howard) S364.675. 1.0i19 per cent.
New York Security and Trust Company
New York (H. w. Whipple). S36l,595. 1.Oi4
| per cent.
f. C. Jones & Co.. New York (H. II
| Pearson. jr.l, 1864 420. 1.O451 per cent.
Walter Stanton & Co.. New York (Stan
tom, 1854 .0S5. 10437 per cent
G.. w. Selgman. New York &C. w
| Proby), 1868. 1872. 1.0391 per cent.
Deitz. Denison * Pryor Cleveland &c. w
York; 1868 15S. 1.0i01 per cent
| Third National Bank, Boston. 1862 S25.
| The bonds are to run for thirty year:
ard bear interest at the rate of per cent.
payable semi-annually at the office of Win
| slow, Lanier * Co.