The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-07-03
AGAIN CITY PAPER
State Journal Elected as Official
Newspaper.
rhe Vote Of the Council Was
Unanimous.
ONLY ONE BOND BID.
CincinuaBI Firm Offers More
Than Par.
no Offer for Four Per Cent Re-
funding Bonds.


: Rv an unanimous vote Of the council
enc state Journal was again named the
umcial city papez. last evening
The vote was not taken by ballot as
last year but by roll call and every
one Of the eleven councilmen present
voted Tor the State Journal Council
man Griley, the one absent member OF
1.-THE council, has been In the east for
several months and was not present to
IHearty expression OF the appreciation in
which the councilmen and the city ON
icers OF the city hold the State Journal
fThe name of no other newspaper was
lneutioned. and q stranger would have
xh0uEht that there was but one news
paper published In the city.
The motion to select an official city
paper was made by Councilman Simms
oe the First ward. ~This being the reg
1lsr time to select the official city pa
per." said Mr. simms, Il move you
kthae We proceed to the feiection OF the
tofacial city paper
Al start was made to prepare ballots
Tor voting. Councilman Green from the
Third ward arose and said: It don't
see why there should be any need of
fcasting a ballot For my part am
sviiling to vote right In the open and
ct IL be known who voted Tor.
II don't see why We should not vote
by ballot said Councilman Holiday
aof the First ward. For the past two
years we have voted by ballot and
ahipk We should vote as customary.
I'VE cnIy voted last year by ballot,
1.-THE year before we let It to the lowest
Ebid." said Mr.. Green.
This ended the discussion on ballots.
The state Journal has had Il one
year" said Councilman SWendson OF
1.-THE Sixth ward, and for my part I
should Like to see 3t have e another
ibe given the city printing at the same
RATES prevailed last year
Il second the notion said Council
IMAM Hughes.
I The vote on the motion: Ayes-Coun-
lcllmen Simms, Jordan. Holiday, Nipps,
tgzreen, Horn, Montgomery, Howe, Sll-
inner. Swendson and Hughes. Noes
None.
But one bid for the 100000 Of paving
fbonds was received by the council last
evening The bid received was from
well. Roth & Co. of Cincinnati, at par
value, accrued interest and q premium
of 81 90, which amounts to q bid of
about 101O45 per cent. No bid was
received at all on the S200 600 of refund
ing bonds. Consequently the council
viii have to readvertise for bids on the
latter.
For the past two years there has
never been 50 meagre a return for the
sale Of municipal bonds OF Topeka
Not one OF the % banks and brokerage
houses which inquired after the bond
issue entered q. bid Well, Roth & Co
never wrote to the city inquiring after
5ne issue and consequently no bid was
expected from them
Three local banks were supposed to
tbe probable bidders, but not a local
1rm entered a bid. VIM Macferran,
OF the State Savings bank, which has
hes q h q 0f ia
clty's bonds, was present at the coun-
ell meeting and said when asked for
an explanation for the unsatisfactory
Bidding. Money is tight in the east
6nd eastern banks are not making
-sleavy investments IN bonds. pre-
sumo that accounts for the fact that
there aren't any more bids from the
east And I guess the local banks
have got all the bonds they want.
don't think this firm which bid this
evening viii really take the bond is
sue. Their letter would indicate that
TO me-"
The 100000 issue is improvement
bonds to cover the paving Of Kansas
avenue, IL addition to all the other
paving for the year 1906 The portion
of the bonds issued for repaving Kan
ssas avenue has property abutting on it
worth upwards OF $500, 900 Paving
bonds Of the city have always been
eagerly snapped up by brokerage
'eraI bids entered for bonds which
were not SO choice as those offered
Hast evening; that is. the property
liable for the improvements is Of con-
IsideFably higher valuation. The issue
bears an interest of per cent.
The refunding bonds bearing inter
est at per cent had no bidders at
al. July Is considered to be an I'M
.sa satisfactory time in the year to dis
pose OF bonds, and the money market
IS usually at its dullest during this
period.
The frecracker ordinance was re-
ferred to the gas and electric light
committee upon the suggestion of
Mayor Davis. and the council made
no attempt to pass on 1T during the
evening. This viii sidetrack the ordi-
nance for a week at least and probably
longer. The ordinance seems to be
following the track OF its predecessors
OF former years. Ordinances were in
troduced IN years past at and before.
the Fourth OF July. action deferred.
and the ordinances finally pigeon
hcfed. There is always danger of go
ing too far with ordinances of this
kind.
BY an ordinance passed last evening
the board Of waterworks trustees may
furnish water to the board Of educa-
flou. board OF park commissioners. fire
department. and for street purposes at
the actual cost Of pumpage. The mat