The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1907-01-18
LOWEST BID FOR
CANAL CONTRACT
COMES FROM WILLIAM J. OLIVER
AND ASSOCIATE. KNOXVILLE
MANS PROPOSAL.

4
WASHINGTON, Jan. 12.-Proposals
opened by the Canal Commission to
day for the entire construction of the
Panama Canal were as low as had
been expected by experts on construc.
ton work. For some time it has been
known that several members of the
iCommission believed Z per cent. npon
the estimated cost of construction
would be a fair remuneration for a
contractor under the form of contract
prepared by the Commission. The
lowest proposal, that of William j..
oliver, of Knoxville, Tenn, and An
son M. Bangs, Of New York City, who
offered to do the work for 6.75 per
cent of the estimated cost, falls even
lower than had been hoped.
Granting that the estimate of $14O,-
OOO,0 for the construction of the
canal, which has been frequently
spoken of in Congress, is accurate, the
remuneration OF the Oliver-Bangs com
bination would be $9,450,000 in case
It was to be awarded the contract.
Much discussion has been caused by
the great difference in the only four
bids received, AZ they ranged from
CTS per cent. to % per cent.
William j. Oliver and Arson M.
Bangs have both been in the contract
ing business for many years and the
statements they furnished with their
proposals show that they have done
much important work. Mr.. Oliver
states that he has completed $1S,100,- |
900 worth of work in the past ten |
years and now has $S1, 100000 worth
of work in progress. He gives his
assets at $3,OO00OO.
divers Partner.
Mr.. Bangs gives his assets at $1,000
900 and states that he was the con-
tractor for the 500 Lock at Sault Ste
Marie Mich. Delaware Breakwater
and Buffalo Breakwater, the contract
price for each of these being $780,
300.
The bids were opened at noon by
Chairman Shonts. Four proposals |
only were received. The Other bid I
iers were George Pierce & Co., of
Me-, and New York City,
who offered to do the work for 7.19 per
,entum on the estimated cost; the
North American Dredging Company, Of
4os Angeles, CAL, who offered to do the
work for 28 per cent. of the esti-
mated cost, and the Macarthur G illespie |
company, OF New Jersey, whose bid
vas 1875 per centum.
The proposals show that George b
fierce & Co. is a partnership consist
ng of Geo. Pierce, G. A. Pierce and
,arl s. Pierce. The North American
Company is a corporation a
hose President is VIM. H. Allen, Jr.. ]
I Los Angeles, and whose Vice Presi- y
emit is r. H. Perry. of San Francisco n
he McArthur-G illespie Company is
ew Jersey corporation, whose chief =
ffices are at IL Pine street, New ]
ork. It's President is A. r. Near
lur, of Chicago. and its Vice Presi.
snt r. M. Gillespie. OF Pitsburg.
Mr. Oliver is one Of the largest rail P
lad contractors in America and is
present engaged In tunneiing Look
vt Mountain and other expensive ST
ork. lsr
More than 100 contractors and their ",
attended the opening tn
the bids. Before reading the pro- pl
'sals Mr. Shonts explained that no sa
d would be accepted until after the N,
,mmission has thoroughly studied
d investigated It.
Basis Of Figures.
The basis on which the contract Will ty
awarded is a percentage OF the cost tie
completing the work. Bidders were TO
luired to accompany their proposals wa
IN certified check OF $4,000 and th'
} successful bidder Is required TO boz
ye bond in the sum OF s2.OO0.OOO to ths
,tect the Government from any loss. POI