The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1905-09-01
THERE WERE TWO BIDS
Both Firms Offered Par Value, But
Wanted Sum for Attorneys Fees.
Commissioners HoEE to Dispose Of
tile. $4,000 Of b )nIs " ttt0ut Ad-
vcrtising Them Again or Offering at
Higher Rate of lntcrcst-M0ury is
Not Needed at Present Tt'ne

The county commissioners me- yes
terday at II o'clock, with all mem
bers present, for the purpose of open
ing bids for the $4,000 Of road Eonds
voted some tine ago. No sale was
made of the bonds yesterday, all bids
being rejected.
These bonds were duly advertised
and when the board met yesterday
Chairman MeEaehern, after announc-
ing the reason for calling the special
meeting, read the bids, of which there
were two. One bid was from the Union
Savings Bank and Trust Company, OF
Cincinnati, Ohio, and the other from
C.. A. Webb, of Asheville, represent
ing the firm of F. l.. Fuller and Com
pany, Of Cleveland, Ohio. The former
offered par with accrued interest and
a premium of 500, but they asked &c
be allowed a certain sum with which
10 pay attorneys fees, for the bond
blanks and other expenses.
C. A. Webb, of Asheville, started tC
Wilmington but his train missed cD1-
nection at Goldsboro, so he called UP
the firm of Hugh MacRae and Com
pany over long distance telephone and
his bid was made through this firm.
The first bid by this firm was to pay
500 and interest IN par at rate OF
per cent
After reading the bids the board
took a recess until 5 o'clock, at whicn
time they met again. In the mean
time Mr.. Webb had been in communi-
cation with the firm of Hugh MacEae
and Company and at the second meet
ing a representative of Hugh MacRae
and Company was present and asked
to be allowed to submit another lid,
which request was granted. This bid
offered par value and asked for a CIV
en- amount for attorneys fees, litho-
graphic of bonds, etc.
After the reading Of this bid Chair
maj McEachern stated that he had
also been in communication with MI.
Webb over long distance telephone
and he had asked him if he would
not get the board to remain in session
until the 6 o'clock train from the
north arrived, as he expected to reach
wv 1lluluSIOu Ou IudL IIdlu duu WOulO
tcome direct to the court house. The
commissioners again took a recess IN
til 6 o'clock. MI. Webb and the COM
missioners held a short conference and
then adjourned without selling the
bonds.
The commissioners will not need
the money for road work within five
or six months and they are detern!n-
ed to sell the bonds at the very best
advantage. Seasongood and Mayor, OF
Cincinnati, did not bid on the bonds
at 4 per cent. but expressed a desire
to bid on them if offered at 4 IL per
cent.
The bond issue was voted on June
'7th and is to continue the building
and improvement of permanent county
roads. Bonds are to be dated July LIST,
1905, bear interest at rate of 4 per
cent, payable semi-annually and will
mature in 80 years. The bonds were
voted under chapter 708 acts of gen
eral assembly of 1905. When the
bonds were voted there was a regis
tered vote of 749 and of this number
535 voted for the bonds and "a against.
The law provided that a 10 cents
on each 500 may be levied and col
lected for payment of above bonds