Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1908-11-25
BOND ADVISERS
WEAR BIG SMILE
FAT PREMIUM OFFERS MAKE
EVERYBODY HAPPY
FIRM IN SAN FRANCISCO HAS A
CHANGE TO WIN
z, n. Rollins G Sons of Northern City
Submit Best Bid for Small
Amount of the Sc
curties

Following out their program TO keep
themselves and citizens genetaliy du-
vised in regard to what action, IN tnelt
opinion, should be taken in connecu0n
with the sale of the good roads pollus,
the members of the advisory board met
in the Chamber of Commerce yesl5I :
dav. The meeting, however, was quite
informal. and each person present wore
a. large and 1909 model smile.
Everybody was happy as a result o.
the showing made Monday When blus
fo, the bonds were submitted to the
hoard of supervisors, and the ADVISORY
board took no formal action, the mem
bers expressing the belief that tne su-
pervisors will accept the best old OF
fered and that no other course is open.
Il hope no more meetings of the ad-
visorv board will be necessary, salu
Chairman 5. a. Butler, and othef mem
hers smilingly expressed the same nope
while their faces gave evidence OF inc
relief they felt over work Wen uo,ie.
The suggestions made by f1aItleS
Shaw. chief deputy district attorney
and the advisory commltteee tIat ollls
a mart of the bonds be sold at this time
viii it is expected, be followed by the
Supervisors Monday, as the money re-
ceived from a sale of the bonds as d
whole at this time is not looked upon
as necessary for immediate work on
the highways The highest bid Tor a
small part of the bonds was maze py
81 II. Rollins & Sons. San Francisco:
which firm offered a cash premium OIL
$50 1880 for $1,O5O,0OO oil the pohus' Vi
104. IT'S per cent.
The next highest bid for a small issue
was made by James II. Adams a Co..
who bid So, 500 premium for SiUOOUO, OF
104.643 per cent, and the third most
favorable bid was submitted by the
Farmers and Merchants bank, $14,oVV
for the first issue of s3500O0, and the
same premium for a second issue OF a
like issue.
Premiums Large
Hartley Shaw again made an exam
ination of the bids received Monday,
and following this prepared a statement
showing the amounts bid fer and the
per cent premium offered by each bld-
der. This is as follows:
For the total amount of the bonds,
SS5OOO coo. the Farmers and Merchants
bank and the Southern Trust company
leads. with per cent premium of
1e3.971. This bid is followed by n. w.
Harris & Co, with per cent premium
of 1O3.994 Fisk & Robinson, 103.IIl'
James II. Adams & Co, l03.601; O'Con-
nor & Kahler 103.223, and w. X. stats
& Co., 1913. 1853.
For smaller issues of the bonds the
table prepared by Mr.. Shaw shows that
a per cent premium of 104775 was Of
fered by r. II. Rollins Sons for $l,050.
900 104 643 per cent by James H. Adams
& Co. for S700, 600, 104.307 by A. M. Chat
fey for $4,000 104.171 by the Farmers
and Merchants bank for $3.50 900, first
delivery; 1O4161 by the National bank
of Chicago for $4,000, and three smaller
bids by the same bank for like
amounts: 103.S30 by n. W. Harris & Co
for S1,050,000, 10000 by the Commercial
National bank of Chicago for Sl,O5O,O00
10000 by the same bank for $7OO,OO9
10000 by the Equitable Savings bank
for $105,0OO and 102.177 by W. r. Stats
& Co. for 100000.
Il believe a smaller issue should be
accepted said Mr.. Shaw yesterday,
and, while | cannot predict what
action will be taken by the supervisors
Monday ! think they will decide favor
ably upon either the Adams & Co. or
the Rollins bid. The firslt is for 500,
900 and the last $1,050,000 and the high
way commission and supervisors are in
a better position to determine the
amount needed a first than l am. The
point l wished to make in my letter to
the board of supervisors last week was
that only a part of the money could be
used at present and that as the bond
market was becoming better, better bids
would be received in the future than
can be expected now"
None of the supervisors would pre-
dict yesterday what action the board
would take.