The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1900-06-30
REBUILDING BONDS.

REFUNDING BONDS.
The county court has been doing
some hard ami conscientious WORK
during this week, and have made one
OF the best bond deals that has ever
been closed in Lafayette or any other
county, They have refunded $4,000
Of township 5 and 9 per cent bondslAt
SIX per cent, and will thereby ssys the
county thousands of dollars. 1t took
hard and patient work to accomplish
the object, but the court vas cautious
and tactful aud succeeded IN closing
a deal that gives us good esson TO be
proud Of the men We have on the
bench.
1t was just a year ago this month
that the court made q record on re-
funding toSnship bonds that was
heralded over the state as the best
deal yet made. and in view Of the
existing conditions Of the bond market.
we believe the one closed this week to
have required even better isancierlng
than the former. In the old lransac-
lien $50 900 Of bonds we're refunded at
3H per cent aud the trust company
taking the issue were given a CON-
mission Of $500. On that occasion
they received the following bids:
Mississippi Valley Trust Co., St.
Louis, bid par and s2,425 for 4 per
cent bonds.
Farson, Leach & Co., Chicago, bid
par, s2,lSl and all reiunding expenses
for 4 per cent bonds.
n. W. Harris & Co, Chicago, bid
par, sl,45O.40 and blank bonds for 4
per cent bonds.
Dennlson & Prior, Cleveland bid par,
9 $500 and blanks for ~ per cent
bonds.
Alihelmer q Rawlings, st. Louis,
bld par and all ~refunding expenses for
80 per cent bonds.
The court rejects sill the above bids.
The Mississippi Talley Trust Co.,
Of St. Louis, then submits a proposition
to take the entire issue OF $50 900
bonds to bear 81 per cent at par TO
pay all expenses connected with the
refundIng Of the bonds, and TO receive
q commission Of $500, which offer
was accepted and the contract closed.
10 the present instance the court
refunded $4,000 Of bonds at SO per
cent and gave the company $1,000
commission in the face of a bond
market, that, to say the least, is very
quiet because of disturbing conditions
both at home and abroad. For these
bonds they reseiv ed the following bids,
and We certainly think they acted
wisely in accepting the one they did
The Mississippi Valley trust Co., Of
ST. Louis, offers TO refund the bonds,
bearing 8 65-l00 per cent interest, to
pay all the ~refunding expenses, and to
receive 8 commission Of 81, 800.
Jno. b. Henderson, Washington, d.
c., bid par and all the refunding ex.
penses for bonds bearing 4 7-l6 per
cent.
Altheimer & Rawlings, St. LOUIS,
bid par, S426 so and all refunding ex-
peuses for bonds bearing 4 per cent
interest.
seasongood & Mayer, Cincinnati,
bid for s62 900 Lexington township
bonds, to bear "a per cent interest,
par, all retundiug expenses and
Sl,l23. 20; for $4,000 Washington
township bonds, to bear 8 per cent
interest, par, all refunding expenses
and S712.
The court rejects all the above bids.
The Mississippi Valley Trust Co, OF
St. Louis, then submits a proposition
to take the entire issue Of 1900
bonds, to bear Sls per cent, at par to
pay all expenses connected with the
refunding Of the bonds, and TO receive
a commission OF $500, which offer
was accepted and the contract closed.
Lafayette county has always bad
good men on the bench, but she has
never had men who we're better quail
lied for their positions or had the
interests Of the county nor at heart.
! few years under their regime will put
the county finances in fine shape and
place it 10 = position to pay off its
bonded indebtedness In 9 few years
without feeling it.