The Montgomery advertiser., 1901-12-17
BALDWIN BID
 TURNED DOWN Council Refuses to Sell
 Bonds at Par. <. HAD LIVELY DEBATE Alderman Mcintyre Again Active Against the Sale. He Declared Bond Issue Foolish Move as the Money Was Net
 Needed and Interest Would
 Be $eSo Fer Month.

The proposition of A. M. Baldwin, kEes-s ident of the First Natlohal i .G, MolltRomery. to purchase q S,e,vVv s.N, nSss" of city. bonds at par ana Isy Couneil again Iast niSht and for more than an nouI ns tne Aidermen wrestIed with 1t; Tney mn nnIt.s settled the question dsfniteiy oy IsJeSSSs,,lfS S,,fSv the proposal and instructing the Ssy nyy Trea to advertise for thirty days 1oE bias for the bond isue. .,. y-ounc,, by way of report or rather s"1 2rhe ma S poriIy of the committee, Aldermen hoilis and Rushton, recommended the sale rot Ot the bonds to Mir. Baldwin. The plhorinSy' represented by Aldermen 6onrHIi Sh1nsy to savsr- tise for bids for the sale or oonus, %A'- dernnan Cheney won In his contentlon;
 The report of the majority Of the FL nance Committee was as follows.
 "Ijpon the offer of Mir. A. M: Baldwin of par and interest for the $IO,OOO 1-S per cent. city bonds. the Finance con mittee reports as follows: The conaIIi.- aL n- tea ia of the opinion that the price is as hiSh as can be obtained, and that 1t Is deeirable that the offer be accepted.
 'The committee has made inquiry od several of the most responsioise sa, ,.S Ono to obtain another offer for the Donos; Ihe M committee renews the recommendation 70 xccsp the offer after careful reconsloera' with the Mayer and reports favorably on the a0comp@nsinS "J. P. KOhn.
 Ray Rushton. After the reading of the majority re- port by the clerk Alderman Cheney arose at his desk and read the following minority report: ., -..,.,,
 T very reluctantly beg to disagree WIFI the report of the majority of the Fi- nance Committes lnasmuch as do not believe that the bonds of the city should bo sold without duly advertising the same. J. V; Snenss ,ha m, nority report be substituted for the ma jority report and Alderman May secono- ed the motion. The matter Was' now even deferred unt lofeT of Alderman Rush ton who evidently saw that a spirited oe-
 Aiderman Mcintyre had something to
 Fit strikes me-" the young Alderman began with great deliberation, that the adoption of the majority report would establ,sn x.,:, very rsSn bsS sSe Pss;; Pss; suthorizinE the sale of the bonds but fl 1t does not contain provision that the | bonds should be advertised then the act ahOIIld have contained such provision.
 T One of the best things in the new Con stitution in the opinion of Mir. McIntyre | is the provision requiring all p oposais | of bond issues to be submitted to the people and he felt sure that this section Ii | of inc Constitution would have the eneci Sf rsducing the number of bond issues | in Montgomery. He thought that there had been many bond issues In the pastt a.st have refused to sanction if they had been given the opportunity. He showed | that the new Constitution gives to Mont EomeTy the pSTsr Ssn a3d tS he Seeved that | this action of the new organic law would l greatly enhance the value or MoStgop- cry bonds This was another reason d%drt t,.aSS TnS
 the bond issue should De aoVer''Se0
 %Iaermau Mcintyre said that he found | A afiII higher objection to the bond sale in the fact that 1t was admitted tna, s, time and there should be no hurry about
 ':Te "EWery month we wait on the bont issue" said the Alderman. we save the | citv S2bO in interest and I can see no req
 aon why we can't wait five or sli l months longer or at least until we need
 the money. l believe furthermorss ,t,al tha
 at that time under the new Constitntlor the city can find a ready buyer for these
 bonds. It is perfectly folly to isue $1o,oCC
 worth Of bonds, any way. when It i ssS OC0 and will not need that until next
 nIdeTman Kohn. chairman of the Fl
 nance Committed, made some pointed
 sfatenents in reference to the remark of Alderman Mcintyre. He said It might
 save the time of the Council if the Al
 derman from the Fourth ward woul' confer with the Finance Committee and
 get some real information about thu financial status of the city.
 Alderman Rushton spoke In support o the majority report.
 | At the conclusion of the remarks ol | Alderman Rushton a vote was taken anc he minority report was adopted by ths | following vote:
 lev. Hudson May, Mcintyre, Roeder~-&
 Nays-Hartley, Haygood, Kohn, Rush
 ton. Toole. 5.
 ITpon the announcement of the resul of inc vote Alderman Rushton sent uJ | a resolution providing that the proposi
 lion of A. NJ. Baldwin for the purchas' | If the bonds he accepted. The resoiu
 tlon was defeated by the same vote a