Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1899-09-21
they MUST TAKE TIC BONDS
September 25th the Limit AL
+ lowed by City Council.
LEGAL ACTION WILL Be BROUGHT
If C. n. White B. Co. Refuse to
Comply With Demand.
city Treasurer Hnmsnn instructed to Make
out the $4,000 Worth of City Bonds In
Denominations Specified by c. II. White "
Co. who We're the Highest Bidders.

The finance committee of City Coun.
Gil took q decisive step Thursday in
regard to the recent sale Of S24,000
worth of city bonds. instructing City
Treasurer William l.. Hamanr to make
out the bonds in denominations spee-
fed by G. H. White & Co. of New
York City, the highest bidders City
Solicitor Henry G. Conrad was also
directed to notify White d Go. by let
fer that il the bonds are not taken by
September 25th legal steps will DO
taken against the firm.
All OF the members of the finance
committee. Chairman James Kane and
Messrs. Michael f. Cannon and George
M. Fisher; Sinking Fund Commits
sioner John s. Rossell, City Treasurer
Hamann, City Solicitor Conrad and
Treasurer's Clerk George j.. Kloberg
attended tho meeting, and the action
taken was ID accord with the views Of
ali present Solicitor Conrad and
| Treasurer Hamann reported the result
of their visit to the office of White Il
| Co, in New York, which has already
been printed in these columns, and
in fact the whole history of the matter
was reviewed and discussed at length,
tho conference continuing for about an
cred and the views of all of the officials
were obtained.
Mr.. Rossell urged decisive action
against White & Co. He submitted 10
the meeting confidential information he
N had received showing that the firm was
satisfied rs to the legality of the issue
of the bonds and their right to take
them under their bid. He stated also
that he had been advised from reliable
sources that White & Co. were good for
any contract they made, and though
they might endeavor to avoid taking
the bonds owing to the high premium
/ bid, a determined stand on the part Of
the city would bring them to terms.
h Treasurer Hamann reporting that he
had received no instructions from White
: g. Co., except that they desired the
: bonds in denominations of $1,000 and
$500, he was directed by the committee
Q to prepare at once 90 bonds Of $500 each
: and IA of 81, 900 each, making them out
n in the name of O. III. White & Co.,
s and place them in the Union National
Bank, the city's active bank, to be
delivered to White Il Co., or their
proper representative when the princi-
pal and premium, together with the
]. pfesept and accrued interest to the date
l
il City Solicitor Conrad was instructed
}. to write at once to White & Co., de.
], manding settlement for the bonds be.
d fore September 25th and informing the
y company If this demand is not COM
Or pliad with legal steps will be taken:
re The councilmen and other officials
le present expressed determination Il
10 pIoceed against White Il Co., upon
failure to take the bonds, and mani,
D. tested indignation at the treatment
ut received. 1t was stated during TIT
I'd conference that local financiers wht
Of had discussed the matter were sever
n in their criticism Of White & Co., ant
/. strongly urged that action be taken,
The controversy over the bonds ha
become a matter of great local interes
and is being freely discussed on o.
he sides, the general oEinion being y
ge accord with the action taken by tn
he city officials last night.