The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-04-12
HAS FOUND A PURCHASER
Thomas Cruise Will Take the En-
tire Issue of Capitol Bonds.
A BUILDING NOW ASSURED.
It II Believed That the Commission Will
Advertise for Bids In June. and
Structure WIN Re Completed
Next Year.
.pecial Dispatch to the standard.

Special Dispatch to the Standard.
Helena. April 1.-THE capitol build
ing commission has found a purchaser
for $3.50, 900 in bonds that 1t proposes to
issue to raise the money with which to
build Montana's state house. A citi-
zen Of Montana has signiied his will
ingness to take the entire issue, and a
contract to that effect will be entered
into between him and the commission
in a few days. The Standard reporter
learns pon good authority hat
Thomas Cruise. who became famous
and wealthy through the discovery and
sale of the Drum Lummon mine. has
agreed to take the entire issue of the
bonds and pay the cash for them just
as fast as the money is needed to carry
on the work of construction.
For the past Is days Ii a been
known to a few state officers that Mr..
Cruise mad practically decided to take
the bonds. but the matter was kept
very quiet. Careful inquiry from.
known sources of information places
the Standard reporter i'm possession of
facts, and unless some unforeseen con-
tingency arises, there a be no doubt
of the negotiations resulting success
fully. An early meeting of the capitol
building commission Will be held to
definitely decide upon the plans now
being prepared and to close the deal
with Mr.. Cruise. II matters progress
as nicely as now anticipated, 1t is be-
lieved that the commission will be in
a position to advertise for bids some
| time in June. With the cash available
for paying for the construction, II Is
patent that there will be plenty Of CON-
| petition mong contractors, and Mon
tana Is sure of getting a better bargain
for it's money han many believe would
be the case IL the contractor took
bonds in payment, as has been pro-
posed.
The expectations are to complete the
foundations and part OF the walls of
the building this year and to finish the
structure next year. So far as can be
learned the contract with Mr.. Cruise
will not contain any provisions concern
ing the outstanding warrants issued by
the old commission mounting to about
$37 900. 1t is believed that as soon as
some of the proceeds of the bond sale
have been received the state treasurer
will pay all OF the outstanding warrants
as presented with the exception of So
called Mann warrants amounting TO
about 5000 h payment of which
will probably be opposed. As to the
regularity of those warrants there
seems to be some doubt. and the law
will probably be invoked to determine
whether they must be paid. There has
been quite a demand here for the out
standing warrants for a few days on
the part of some who must have re-
ceived a tip about the negotiations with
Mr.. Cruise. The holder of 1880 worth.
a resident of Helena was offered par
and one-half Of accrued interest for
his warrants. but he must have had a
tip, too, for he declined the offer. A
few weeks ago he would probably have
been glad to have disposed of them at
a discount.
This circumstance. vouched for by a
I responsible party, indicates that there
is something in the wind. The bonds
which Mr.. Cruise will receive will draw
interest at 6 per cent, n are secured
by state and given to Montana fol-
capitol bdilding purposes. The income
from the lands. as Is well known, IL
not sufficient to pay the interest al
present. AS the state the
lands will become more valuable, and
in time will. it is believed. AFFORD reve-
nue. sufficient for interest payments
The understanding is that the def
cheney in interest will be made up to
Mr.. Cruise in warrants drawn upon the
fund.