The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-05-26
SCHOOL BONDS SOLD
At a Premium of One Hun
dred and Fifty Dollars.
WICHITA MONEY INVESTED
Three Local Capitalists Make
the Best Offers.
WICHITA MONEY INVESTED

The school board literally perched itself
On a pedestal last night and waved Wich-
ita's banner in the face OF the whole
world. The Individual members felt that
this city was about the size OF one OF the
first class powers Of the earth. The cause
CT all this elation was the sale Of wich-
1ta per cent school bonds at a substan-
fisl premium.
The nation that can hoat & per cent
bond at par is considered 10 have a pretty
good financial standing the monetary
world but when a school district com
posed Of the territory within the confines
OF city that only a few years ago ez-
perenced a busted boom can sen bonds
at such low rate Of interest the mem
bers u the board thought that vas cause
for congratulatiOn.
There was another feature mat made
the members Of the board stick their
thumbs In the arm holes Of their vests
and lean back Ia their chairs and put on
style The bonds TO the amount Of
5000 were sold 10 q Wichita institution,
the Fourth National bank. Chicago and
Cincinnati moneyed institutions were here
= bid Tor Wichita bonds, but they were
outbidden by no less than three Wichita
parties
The bonds sold were those voted By the
people 9t this city To build Ingalls, school
end additions TO other schools ia the CITY.
The BIDS were sealed. and all were Tor
bonds ia the SUM o. $500. --- school
board had by advertising for bids il the
Eagle said How much VIII you give us
for the bonds The drst bid opened was
that Of J. H. Stewart Of this city. and his
BID was So, 1880. That was a premium Of
Sl1z.59 on the bonds W. W. Johnston n
this city went just SO better on the next
bid opened. His bid was Sz5 1Z51 The
next ~ opened was that az So. J. Hay
4 son Of Chicago, and their offer was 70
take the bonds at par, but they wanted a
commission OF $500. The bid o. ~. j.
king, who represented Chicago money
Institution, was better than that Of the
Cincinnati concern. He offered TO take
the bonds AZ premium Of $3.50. Then
came the bid Of J.. s. Naftzger, president
Of the Fourth National Bank Of this city.
with bid Of $3.50 The last - opened
was that o. g. A Trowbridge for another
Cincinnati concern. His BIC was 10 take
the bonds ~ par but he wanted to be
paid commission OF S240. u was then
evident that the Fourth National Bank
AID captured the prize and President
= eftzger. VINO was present. received the
congratulati0n Of members OF the boarA
and others
President Naftzger told his friends after
he had purchased the bonds that he was
buying them FOR an investment FOR the
Fourth National and the bank intended
70 keep them This bank IS one Of the
strong institutions Of the west, and 1t is
pleasing TO the people OF this city to see
Wichita money going into school bonds
and 10 know that the interest paid win be
kept at home. ". w. Johnston of this
city was only $3.50 bend the best bid.
lie was bidding -or himself, and thls
showed that If Wichita had another block
of bonds TO sell another Wichita man
would be present to buy them
After the bonds had been sold and the
board voted TO accept the bid Of Presi- .
dent Naftzger. the bids for the erection
n The additions 10 the High school. Park .
school and Franklin school were opened
and the lowest bidders were Brandt
Crib Their bids were as follows. PARK
school. $500; Franklin school, s. c59.
High school $3.50. The board voted that
Il must be put in the contract that an
the buildings must be completed by the
18th day Of August, an the contractors
must pay S25 q day Tor every day after
that time which elapses before the build .
ings are completed
The building committee were Instructed .
% make arrangements for laying the
BRICK in the ingalls, building En- red NOR
tar. provided IL could be done for SD in
addition TO the contract price.
II was also voted to allow teachers to .
occupy rooms in the school buildings for
sumner schools.