The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-07-15

best of the four bidders for the $3.50, 600
3is per cent. school district bonds. were
awarded the bulk OF the Issue at last
nights meeting of the school board.
The successful bidders owe their sue
cess to the fact that their polite rep
resentative, Mr.. Alexander, was on the
ground.
One of the four bids was not accom-
panied by the required $1,000 certified
check, and, in consequence, was not
read The three other bids were as fol-
lows:
Ncwberger Brothers e Henderson. of
Philadelphia-Fo the $4,000 worth of
bonds maturing August l. 1911, 100 42-1OO:
for the remaining S2o0,000 maturing in
from fourteen to thirty years, 1O1 29-1OO.
Dick Bros, of New lork-For the first
$50 900 worth, 100 S5-10O; for the remainder,
100 911OO.
Rudolph, Kleybolt & Co.. of New York
For the first 100000. 100 702-10O0; for the re-
maindcr, 100 S22-1O00O.
The bids were referred to the finance
committee to report forthwith. The
committee returned, after fifteen min
utes consultation, with recommends
ton that the first 100000 worth be
placed in the sinking fund and that the
remaining S220,000 worth be awarded to
Newberger Brothers & Henderson.
JAYNE'S SUPPLEMENT.
Mr.. Jayne moved as a supplement to
the committee report that if Newber-
ger Brothers & Henderson did not take
the bonds before August 1. that they be
awarded to Dick Bros. He explained
that the difference in the two bids was
ha ha 1o1 nf
the bonds and receipt of the cash was
delayed beyond August !, the difference
in the amount of the bids would be
overcome by the loss in interest, which
the board is paying on borrowed money.
Dick Bros. had taken previous issues
of the districts bonds, and their agent
stated they were prepared to take this
issue without any delays. The dealings
with Dick Bros. had been very satis-
factory. he added, and if it came to
pass that Newberger Brothers & Hen
derson did not take the bonds at once,
it would be eXpedient to let DICK Bros.
have them.
Mr.. Francois at this juncture an
nounced that Mr.. Alexander was ready
to bind his house to advance at once
whatever part of the 100000 the board
needed to pay off it's floating indebted
ness. provided the board would award
them the bonds. The board has al
ready borrowed $4,000 at six per cent.
and will have to borrow as much more
in a couple of weeks, Mr.. Francois eX-
planned. 1t might be an economy, he
thought, to award the issue outright to
Dick Bros.
Agent Alexander was given the privil-
ege of the floor, and, after telling how
the city has lost money through delays
in cashing it's bonds, and how he had
taken the last issue Of county bonds
and paid for them in five days, reiter-
ated the offer he had made a moment
before through Mr.. Francois to ad-
vance, free Of interest, inside of two
days, enough money to pay back what
the board has borrowed from the banks,
and to take and pay for the bonds as
soon as they can be delivered.
In referring to his purchase of the
county bonds, Mr.. Alexander remarked
that some individuals had intimated
that there was some bribery in connec-
tion with the deal. 'There was no
bribery on my part" said he. "unless
it is bribery to buy a high ball for a
man."
Mr.. Jayne, seconded by Mr.. Roche,
moved to award the issue outright to
Dick Bros.
PROTESTS ENTERED.
Messrs Murphy and Evans protested
that this. was unbusinesslike and I'M
fair. Mr.. Hand thought Mr. Jayne's
first proposition was all right, but did
not favor the second. Mr. Welsh agreed
nd hot
as long as the best bidder had COM
piled with all the requirements of the
advertisement, the best bidder should
be given the bonds. Mr., Leonard Joined
in the protest against ignoring the best
bidder.
Mr.. Murphy gave as a further ground
of protest against the action contem-
plated in Mr.. Jayne's motion that such
conduct on the part of the board would
result in reputable firms refusing to
make bids when the board has bonds
for sale again.
Mr. Evans made the query: would
we get this supplementary offer from
Dick Bros. if they were the best bid
ders originality" Mr.. Jayne replied
that when Dick Bros. took the last
issue they advanced the board $4,000
while waiting for the bonds to be
printed.
Mr., Jennings suggested that the mat
ter be recommitted. with Il view OF
having the committee calculate what
would be gained by taking the Dick
Bros amended offer, and to secure
from Agent Alexander a definite writ
ten agreement as regards advancing
Messrs. Evans and Murphy protested
that this was equivalent to giving Dick
Bros. an opportunity to bid a second
time after the proposals OF the other
bidders were made public. Mr.. Evans
wanted to know what right the board
had to do such thing. Mr.. Roche an
swered him that the board had right
to do anything for the good of the dis
trict
The motion to reeommit was carried
and the committee, with Agent Alex
ander, retired TO the secretary's office.
In ten minutes they came forth, and
Chairman Francois presented two re-
ports. lie prefaced the presentation of
the report by stating that the board
would save $3.50 by accepting Dick
Bros proposition.
The majority report, signed by Messrs.
Murphy, Evans, Leonard and Christ
mas, recommended that the $22O, 900
block of the bonds be awarded to New