The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-08-23
CITY BONDS NOT SOLD.
We Highest Premium offered by Any
Bidder Was Sl2, 200.
ssLLNs & co. THE HIGHEST BIDDERS
The Finance Committee Fixed the Mini
mum Premium It Would Accept
at $4,000.


The sale OF city bonds. amounting to
sa5o.000 and advertised TO take place at
the city hall at high noon yesterday, was
"a fash In the PAN and no sale was ef-
fectd. This was not owing to the absence
OF bidders, or 10 any defect in the bonds
but simply 10 the fact that the finance
committee, Aldermen l.. j. Tunly, Nj. ID
Bennett and l.. Gus Mueller, did not think
any Of the bids received were sufficiently
high The committee having reserved the
right to reject any or all bids, after the
bidding on the bonds was concluded retired
10 the mayors office for consultation and
in a few moments returned and announced
that all bids were rejected, but II any of
the bidders present would raise their bid
10 $4,000 premium the bidding would be
reopcned, that amount having been agreed
upon by the committee as the lowest upset
ting price the committee would accept.
There was quite large crowd gathered
at the city hall at noon to witness the
auctioneering Of the bonds~ as advertised.
hut it was not until 1885 that the finance
committee and Mayor Woolfold gathered
at the stand and through Alderman runly,
chairman Of the committee, announced that
the Offering OF The bonds for sale at auc-
aion would begin. This delay Ia begin.
ming the sale was caused by desire on
the part Of the finance committee 20 pro-
coed cautiously aud safely in the sale OF
these bonds, aud they called IN AN attplhty
FhIng proylnp satjsfaCt6ry, the sale was
begun.
Chairman Tu0iy announced that the cont
fnittcC was rudy 30 receive bids on the
bonds ADVERTISED for sale and those dcslr-
ing TO bid on hem we've required befoce
bidding to deposit a chetk epual Jo ! p,f
cent II the pag value Of the bonds uid for
sald cheek 70 hc GUY esfllhI 4 R{ y h0us
ment. the following gentlemen, represent
lne tne hrms hA,ne9. cam iS%TFMura ~ ng
qeposlted their checks WIN Mt Arlhu'
Lppet' ' ngs' groo3,,irsso,tl,,g p r. nr,oo.
& Co., cin4ba aHad,. one goor,.or,,o, u II
pdiiinih $500 Nr,se ond nen,at Cni
Afred Hozm6n' rspresenting Ijeder
Sr5it,,,., r = ~ "a, .inr,tT Ohio
II Noor" Ir rcprrscutinr Parson
1facb & a., Chicago.
Walter Bruce. rcprtsentlne The New Tlrs
T. a. Works reprDsonhng seAsougood
Meyer & Co.,. Cincinnati. Ohio
W G.. Humphrey representing Rudolph
Hieyholtc a to. Cincinnati, New Yorl
and Chicago
G.. Il. Gillespie Of Dallas representini
Denison, Prior 60. ~ Cleveland, Ohio
AtM. r. CheW OF Houston representing
There was some question as to the cxac
me9hlhE 81 INC sentence IN me rules, VhIc
HeadS. II the CITY shal' tdll 20 pr'sfu
stle nouu9 1so itENteteul NJ or DsIosc sa,
.hSI, men ty ttou.W ttu' s,p shj9r !, N"l
shall be sufiect 10 c0 f,rfber ,ii,,tio
SnI sbSp na, h t,iJ ,'V. va, Sa 49,, iu
,onsenucnt "non -,,ib r, .i,r WY IAN uo,ii' I
IN bidders rogTin~ tb7i rnioht hn on,
Btrucd Ia mean That IL fbo TItv shnUi
fail 10 deliver tho bonds ia acrnrd5nt- Mi
the bid within thai time il might Sc r.
leased from delivering them al any, tts
aftervnrd Ehe meaning helng explsfnc
40 the satisfaction Of all Chairman TIN
announced that bids would be receive
hrst Tor the $4,000 In bonds. for pawn
BdAsoTssse van rH np t,y haii dozen Of q