New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-02-02
BIDS FOR CITY BONDSI
BIG OVERSUBSCRIPTTON.
Offers Above Par for Most of
Fifty-Ycar Issue.

Controller Metz yesterday received bids above
par for s26,0OO.0OO fifty year per cent bonds,
but the remaining 100000 OF the $50 0O0. 900
Offering apparently did not command a pre-
MUM. The fifty year bonds were oversub-
scribed there being 113 bids. and the aggregate
bids being for more than $50,oOO.O00. The Con-
trolIer and his bond clerks worked late last night
tabulating the bids.
The Controller said that on account Of a lack
OF precision in the bidding for the short term
bonds some OF the bids being contingent on the
bidders getting long term bonds. he not
able 10 say whether he had sufficient offers for
the short term bonds or not. He will confer
with some OF the bidders to-day and learn
whether their contingent bids to stand.
The Controller said the bonds would bring
something like 500 SO, perhaps little better,
but he Judging from the approximate rather
than exact figures.
The stock and bonds sold included $23 100000
corporate stock for various municipal purposes,
due in 1866; s.. 100000 corporate stock 10 pro-
vide for the supply of water, due in 1886; ST.
5OO,OOO corporate stock 70 provide FOR the supply
OF water, due In 1925; $26OOOO corporate stock,
due In 1856. for the New York Public Library
Building in Bryant Park; SlOOOOOO assessment
bonds for street and park openings, due in
1916; 81 900 600 assessment bonds for street i'm
provements, due in 1916.
The 1925 water bonds those for the S16l-
100000 supply to be brought from the Catskills.
The first issue of 100000, offered last summer,
the last issue, of $1,500OO0 brought premium.
Several bids for some of this stock re-
ceived among yesterdays offers, but with the
tabulation IL could not be told just who got
them The offers were not big.
Controller Metz expressed himself as well
pleased with the bids received. He said that
when he looked at the state of the market as II
was now. he would have to realize that the bids
were good. He thought, however, he would not
hold another sale OF stocks and bonds until the
summer
What appeared to be the highest bid was that
of the Glen Cove Bank Of Glen Cove Long
Island. which offered 1O5-62 for $4,000 worth of
the 1856 issue. There were few bids over 1O1
and when the premium went l per cent more
the bidder would risk only small amount.
The National City Bank offered to take all or
part of the S23,O00000 issue at par and accrued
interest. This bank also made an offer OF
100000 for $4,000 worth of that issue H.
w Harris made an offer Of the same rate,
100000, for 100000 worth Of the 1856 issue.
The chary bidding caused a laugh as the Con-
troer read them off.
The Bankers Trust Company bid for $1,250,O 900
of the 1856 issue, follows: 100000 at 100. %,
$4,000 at 10029 $4,000 at 100.34, $4,000 Mt
10037 $4,000 at l0043. 600 at 10047. $780,
600 at 100.56, $3.50 900 at 100 so.
Andrew Horn, of Brooklyn. sent 20 cents de-
posit TO buy $40 worth Of the 1856 issue at 102.
He sends this bid every time sale is held. and
has been doing 1t for years. Henry Horn sent
90 cents to buy $50 worth at 1O2.
The Rev. J. w. Greenwood, OF Oshkosh Wis
offered premium of one-half OF per cent for
$4,000 Of the registered bonds, 81 900 worth Of
the issue for various purposes, and 81, 900 worth
OF the Bryant Park bonds.