The Birmingham age-herald., 1907-06-12
The First National Bank.
Birmingham. Ala, June 10.

Bl1DnlSndHl, kAld,, J une lU, lJut' Hon. Jere c. King, Birmingham Ala.
 Dear Sir:--In reply to your inquiry as to the value of bonds of the various su- burban towns such as Avondale, Wood lawn, East Lake Pratt City, Fairview and North Birmingham, under present conditions, and the value of the same bonds if the municipalities issuing them should become a part of the city of Bir- mnigham, would state that I am decided ly of the opinion that the present bonds of these municipalities would be en- hanced in value, and that future bond issues could be sold bearing a much lower rate of interest were they an in tegral part of the city of Birmingham l do not know of a case where one of our suburban towns has been able to sell a bond bearing a lower rate of in- terest than per cent, and l do not be- lieve that under present conditions any of them float a 6 per cent issue at par. l believe that the bond issues of the Greater Birmingham as outlined in your bill. could be sold at a much lower basis that per cent, and they could probably be floated on a Az or per cent basis, ac- cording to the condition of the money market at the time they were offered for sale. Yours very truly,
 w. P. G. HARDING, President.
 Commercial State Bank.
 Birmingham, Ala June Il, 1907. Hon. Jere c. King, Birmingham, Ala.
 Dear Sir:-In reply to your inquiry of this date relative to any bond issue that might be made by any municipality, such as Fairview, Pratt City orGraymont, where the principal and interest of such bonded debt should be guaranteed by Greater Birmingham, as proposed in your bills, I have to say that I am of the lpinion that these securities could be easily sold at par on per cent basis. The credit of Greater Birmingham be- hind these securities would make this bond issue a gilt edge proposition and should find ready sale in the bond mar ket. Yours very truly,
 JOHN D. ELLIOTT, President.
 Steiner Brothers.
 Birmingham Ala, June 10, 1907. Hon. Jere King. City.
 Dear Sir:-In answer to your inquiry of this date relative to any bond issue that may be made by any of the cities or towns that would be absorbed by your Greater Birmingham bill, at the next session of the legislature, the payment of principal and interest of said bonds being guaran- teed by the Greater City. we would un- hesitatingly say that the bonds would be good and should bring in open mar ket, bearing , per cent interest. The cred it of the Greater City would be wonder ful reinforcement behind the value of these securities, and we would pronounce the bonds Al in all respects. Yours very truly,
 STEINER BROTHERS,
 By Carl Steiner, Cashier.
 American Trust and Savings Bank.
 Birmingham, Ala, June 10 1907. Hon. Jere King, Birmingham, Ala.
 Dear Sir--I beg to acknowledge receipt of yours of the Sth instant, and in reply to same have to say that, in my opinion, all securities issued by the outlying mu- nicipalities can and will be readily sold when the municipalities have been taken into Greater Birmingham and It's secur- ities guaranteed by the greater city. Your plan is the most feasible one that has yet been offered, and should work to the benefit of Birmingham as well as the out lying towns
 Wishing Nou success in Nol1r endea vnrs