Arizona republican., 1906-01-17
JOSEPH H. KIBBEY,
 Chairman.
SIMS ELY, Secretary.
 Phoenix, Arizona, Sept. 15, 1905.


 Pursuant to adjournment the Terri torial Loan Commission met in the of fee of the Governor on the 18th day of September, 1905. at ? o'clock D. m.
 The members present were: Joseph H. Kibbey, Governor of Arizona, Chair man of the Commission; w. F. Nichols Secretary of the Territory, member of the Commission. Wesley A. Hill, Ter ritorial Auditor. the third member of the Commission. was not present, be- ing absent from the city on leave.
 The Secretary of the Commission read the minutes of the meeting of July 19, 1905, and said minutes were ap- proved and signed by the Chairman and Secretary.
 The Chairman stated that the meet ing was for the purpose of opening bids for the issue of s25, 900 four per cent bonds authorized by the Commis- sion at it's meeting of July 19, 1905. MT. F. F. Kirkland, Territorial Treas urer, thereupon appeared before the Commission and stated that pursuant to the instructions of the Commission he had caused to be inserted in the "San Francisco Chronicle" of San Francisco, California, and in the Bond Buyer" of New York City New York, and in the Arizona Republican," of Phoenix, Arizona, an advertisement in the words and figures following, to- wit:
 1925, ,OOO TERRITORY OF ARIZONA
 FUNDING BONDS.
 "In accordance with a resolution of the Loan Commission of the Territory of Arizona, notice is hereby given that twenty-five (25) funding bonds of the Territory of Arizona Cor so many as may be necessary to redeem twenty five thousand dollars in bonds of the county of Pima, Arizona) to be issued under the funding laws of the said Territory, payable in fifty years. op tional after twenty years, of the de- nomination of one thousand dollars 1 ($1.OOO) each, bearing interest at the rate of four (4) per cent per annum. payable semi-annually, principal and interest payable at the office of the Guaranty Trust Company, of New York N. Y, will be sold to the best bidder therefor.
 Sealed proposals for the purchase of said bonds will be received by the 1 Treasurer of the Territory of Arizona at the office of the Loan Commission in 1 the city of Phoenix, territory of Arizo- ma until o'clock, D. m., the 18th day of September 1905. No bids for less than the par value Of said bonds will be l
 "A certified check upon a responsible bank for five per cent of the amount of the bid must accompany each pro- posaI. Failure of the bidder to make payment in full upon allotment and tender of the bonds will be considered as 9 cancellation of the bid and for feiture of the check accompanying the same.
 "The Loan Commission reserves the right to reject any and all proposals.
 "E. E. KIRKLAND,
 Territorial Treasurer
 The Territorial Treasurer presented due proof that the foregoing advertise ment was published in the san Fran cisco Chronicle" one time, viz: on the 1Ith day of August, 1905; and in the ''Bond Buyer one time, viz: on Aug ust 10th 1905; and in the Arizona Re publican" for thirty consecutive days the first day of which publication was on the 10th day of August, 1905, and the last day was on the Sth day of September 1905. The hour being al hand for opening the bids mentioned in the said advertisement the Terri torial Treasurer laid before the Com mission CD a telegram which, not , complying with the terms of the ad- , vertisement, was not considered; CD a sealed letter from Seasongood & Mayer, of Cincinnati, Ohio. which let ter was thereupon opened by the Sec retary of the Commission. The letter of Seasongood & Mayer, embodying their bid. was read to the Commission by the Secretary; it's contents being in the words and figures following, to- wit:
 l "Cincinnati, September II, 1905 "E. E. Kirkland, Treasurer Arizona
 Territory PbOenix ArizOna