The Montgomery advertiser., 1905-04-05
TO RETIRE OLD DEBTS
Alabama Banks May Get
 $5,000,0O0 of Securities.
Governor Has Matter of Award Under Consideration--Capit Pleased With Highest Oner, in Which
 Local Bank Is Interested.

amount of $S.403,600, to bear 1-2 per cent. and per cent. interest, were opened by Governor Jelks. according to his advertisement. at the capitol yesterday at noon. when 1t was found but two bids had been made for the purchase of all of the bonds
 The new bonds are to retire the present bonds which mature July l., 1906, and are bearing and per cent The highest bid made for "all or none" of the new bonds to bear 3 1-2 per cent. was that of a syndicate In which the First National Bank of Montgomery is interested. This syndi- cate offered 101.S31, equivalent to basis of 3.43. Under the terms of this bid the State would recive $153,S6s.90 as a premium and would save $126,054 annually in interest
 The second syndicate. and the only other bidder for "all or none" of the bonds. offered 100.125. equivalent to basis of 3.49. The Merchants and Planters-Farley Bank of Montgomery was interested in this syndicate.
 Quite a number of bids for small blocks of the bonds were opened, but the nearest approach in number de- sired, to that of the two syndicates, was the bid of the Birmingham Trust and Savings Company. which offered 101.50 for $500,000, or a basis of 3.44.
 Governor Disappointed.
 The offers from individual citizens of the State were disappointingly small to Governor Jelks, who had expressed a desire that the investment should rest largely with citizens of Alabama. Indeed the Governor expressed disap- pointment at the prices offered for ~ bonds. He did not announce the yesterday and may not do so Late In the afternoon he said tn was a matter he would take tim consider.
 While the Governor is empowered reject all of the bids, it was the c, - seasus of opinion among the bank and capitalists who were in Montgoi cry to be present at the opening | the bids, that the bonds would be sol to the syndicate offering the highes, bid for all of the bonds.
 The highest offer was made by combination consisting of Ladenberg, Thalman & Go. of New York, Goldman, Sachs & Go. of New York, the First National Bank of Montgomery. the First National Bank of Birmingham. the American Trust and Savings Bank of Birmingham and the Peoples Saw ings Bank and Trust Company of Birmingham.
 While the names of these financial institutions were the only ones used in the bed. President A. M. Baldwin of the First National Bank of Montgom-
  Alabama were also interested. MT. Baldwin further said that the several Alabama banks were interested to the amount of $5,000,000.
 The second syndicate bidding for all of the bonds consisted of the Hanover National Bank of New York, the Mer- chants and Planters Farley National Bank of Montgomery and the Birming- ham Trust and Savings Company.
 nIddera f0r Small Lots.
 The other bidders for 3 1-2 per cent bonds were as follows:
 Guaranty Trust and Surety Compa- ny, Birmingham, $50,O00 at 1O3. basis B.3S.
 City National Bank, Tuscalosa, $1o0.- poo at 102, basis S.42.
 Union Bank and Trust, Montgom- ery. $100,000 at 1O1.20.
 Birmingham Trust and Savings Company, 50o.o00 at 101.5O. basis 3.44. First National Bank, Tuscaloosa. S40,O0O at 10S. basis SIS.
 H. R. Shorter, Eufaula, $2.O0o at 103.75. basis 3.35.
 Mrs Susie Owen, Mobile, $4O,OOO at 100. 50.
 J. D. Poole, Butler County. $3.OOO at 1O5 50, basis S.2s.
 Mrs. ouigley. Mobile, $1O.OOo at William Gray. Dadeville. s2.OOo at 100.
 W. c. Oates. Montgomery. ssO.OOo at 100.
 J. D. Burnett. Evergreen. $16,Ooo at 100.
 Mrs. Lucy Newton, Mobile, $2,oOO at 100.
 Me stallworth. Evergreen. sS.OOo at 100.
 T. D. Sanford, opelika. 5000 at i02 basis 3.42.
 George w. Hammer, Washington, D. C., s5,OOO at 1OO.25. William Palmer. Ackerville. $4.0O0 at 101.5O
 c. T. Mccorvey. Mobile. $500 at 105.
 Mrs. Cherry. Eufaula, $7,OOO at 1O5. . The following were on three per cent bond:
 John Jackson Topper, Camden. s1,7Oo at 100.
 Ida Grace Topper, Camden. $7oO0 at 100.
 Miss Annie Topper, Camden, &2,oOO at 100.
 J. T. Martin, Jacksonville. s1O.OOO at 100.
 E. D. Tayloe. Uniontown. $7.oOO at I02. basis 2.93.
 The opening of the bids for the bonds drew large crowd of investors and bankers to Montgomery and at the noon hour many prominent citizens of Alabama were either in the rotunda of the Capitol or in the Governors office. Among those present were: J. Fl. Fitts and Frank s. Moody of Tuscaloosa, Presidents respectively of the City Ma tional Bank and the First National Bank of that city, and W. P. G. Hard ing, President of the First National Bank of Birmingham; W. w. Craw- ford, President, and Erskine Ramsey and G. B. Mccormick of the Ameri- can National Bank of Birmingham; Ar thur W. Smith, President and T. O. Smith, Vice-President of the Birming ham Trust and Savings Company; Henry B. Gray. President of the Peo- ple's Bank of Birmingham and J. G. Moore, L. V. Clark and Otto Marx of Birmingham: Sidney Marsh, represent ing Ladenberg, Thalman & Co.,. of New York and H. R. Carse representing the Hanover National Bank of New