The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-09-05

the Az per cent bonds for enough to
make him a profit over what he could
make on the s per cent bonds?
The six per cent bonds had been
hawked all over the country and had
been offered by H. B. Kelly down as
low as .9S1a without being able to sell
them.
offered to the State i'm March.
II. B. Kelly shows conclusively that
as long go as March g.. 1904-Tnark the
date-he made positive OFFER in writ
ing of the Comanche county bonds Off
cially directed to the state school fund
commission. This was an entirely diff
ferent offer from the one he made later
in May. and no one denies he had an
option on the bonds at that time. 1t
was as follows:
Topeka. Kansas, 3-3-'o4.
ITO the Permanent School Fund Com
missioners, Topeka, Kansas.
"Gentlemen:-We offer at par and ac-
crued interest, subject to prior sale.
$4,000 six per cent refunding bonds of
Comanche county, Kansas, dated
September 10, 1890, due July 1, 1920
without option; July, 1904. coupons to
be detached therefrom upon delivery of
the bonds.
Taxable valuation of real estate and
personal property of Comanche county
as fixed by the state board of equaliza-
ton, 81 ,036. S65.
Total bonded indebtedness of Co
manche county. $156.OO0. No floating in
debtedness. This. should you take the
bonds. will be reduced to $154, 900. which
would bring the indie btedneSs within the
10 per cent limit of the law.
Interest promptly paid upon the
bonds offered herein.
"A five mill tax levy made for crea-
ton of sinking fund and payment of
said bonds and a levy of twelve mills
made for paying interest on said bonds.
These bonds were issued to refund
bonds. coupons and judgment for pay
ment thereof. obtained in the Z. s
circuit court for the district of Kan
sas. and affirmed by the Z. S. SUI
preme court The bonds and papers
having been prepared by Messrs. Ros-
sington, Smith & Histed, who repre-
scented the plaintiff in the federal
courts and made settlement with the
I'VE can make delivery of these
bonds as soon as notified of the ac-
ceptance of this offer
Respectfully.
KELLY & KELLY"
1t was this offer which t. ]. Hays,
bond clerk in the state superinten-
dents office, told H B. Kelly he had
received and that it would come be-
fore the board at its first meeting.
The offer which was sent to Mr..
GODDARD to present to the school fund
commissioners was the same as this.
H. b. Kelly offered Mr.. GODDARD a COM
mission of $500 if he succeeded in
selling the bonds according to this
offer
The letter from H d. Thompson.
representing the owners of the bonds,
which shows that Mr. GODDARD had not
closed his arrangements to purchase
the bonds as late as May IA, is as
follows:
"Des Moines. Iowa, May IA. 1904.
m essrs. Kelly & Kelly. Brokers, To-
peka. Kansas.
Dear Sirs: I have your telegram of
today asking me to extend the option
on Comanche county bonds ninety
days / have just wired you as fol-
lows. which 1 now confirm:
Cannot extend option. My clients
have instructed me to raise the price
MY clients think these bonds should
bring par and accrued interest How
ever. If l should receive a firm offer of.
say 9S X per cent with accrued inter-
est, 1 should be pleased to submit it.
1 will add, by the way. that if you de-
pend on selling these bonds to the
state, as suggested in your telegram
1T is hardly worth while to pursue the
matter further, as the county valua-