The Montgomery advertiser., 1905-04-06
NO AWARD
 OF THE BONDS Governor is Still Consider
 ing the Bids. BANKERS ARE PLEASED Offer of Syndicate is Regard
 ed as Good One. Alabama Fnanciers Express Doubt as to Wisdom of Again Offering States Renewal Securities
 to Public.

| Certified checks for something over | $90O,000 which accompanied the bids for Alabama's proposed new issue oi SS,403,000 of bonds are still in the custody of Governor Jelks and the Gov ernor said late yesterday evening that he would return these checks to the bidders as soon as he decided on the | award.
 Governor Jelks yesterday reiterated his disappointment that the highest | offer for all of the 1-2 per cent bonds was 101.s31 saying that he felt the State should secure a better contract. It was doubtful. he said If he would reach a decision as to | the matter today.
 The highest bid for all of the bonds, it will be remembered. was by a sym dicate of Alabama banks, allied with two financial firms of New York. The First National Bank of Montgomery is interested in this bid. Satisfaction Over State. From all sections of the State come reports of satisfaction with the offer made by the highest bidder and Mont gomery investors expressed themselves as pleased with what some of them termed the liberality of the offer.
 Michael Cody. President of the Union Bank and Trust Company of Montgomery whose bank was a bidder for block of the bonds said yesterday:
 Under existing circumstances, I think that the bid for the bonds made by the First National Bank of this city and others, Is a very favorable oppor- that the Governor would make a mis- take in not accepting the bId.'
 William Berney, President of the American National Bank of Montgom- cry does not regard the bid with so much favor.
 q agree with the Governor" said Mir. Berney, that the bid is too low. l thought they would bring 104, but since they did not, and see no pros pect of doing peter, I would say that the Governor had better take what he has,"
 J. S. Pinckard, of the State Abstract Company, who has had considerable experience in handling securities ex- pressed himself as exceptionally well pleased with the highest bid.
 Tt is a very liberal offer" said MT. Pinckard, considering the terms of the advertisement and I should think the State would not hesitate as to it's acceptance"
 The following telegram was received investment brokers in the East: ,oo- "The. Advertiser. Montgomery. Ala:
 We congratulate you on excellent bid received for the Alabama 31-2 per cent. bonds.
 Fisk & Robinson"
 May Retire Part of Debt.
 In the advertisement for sale of the renewal bonds the State reserved the right to retire a portion of the old debt which would mean that if any of the bids opened Tuesday were accept ed the successful bidder might not se- cure bonds amounting to $S,403,600.
 Governor Jelks said yesterday that he hoped to retire as much as $600,0OO of the old debt which natures July l, 1906, but that the amount of the debt retired would depend on the condition of the treasury next year.
 Bidders for the bonds were required to accompany their offers with certi- fled checks for 5 per cent. of the amount of bonds desired. Offers were made for fraction over $1S,O0O, 900 of bonds.
 Just as soon as I have reached a decision,' said Governor Jelks, these checks will be returned to the bid ders.'