Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-09-01
Chicago FIRMS
BID FOR BONDS B !.
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Five Tenders for the Entire Issue
Received in Response 10
Advertisement.
ANOTHER SALOON LICENSE.
Council Takes Il Elop on the Question
OF First South Street Dram
Shop Protest.

Five bids for the entire issue, and one
bid for the sewer bonds alone, We're re-
ceived by the city III respons TO its
advertisement for tenders for the $780,
600 in bonds recently authorized The
bids We're mostly from Chicago, one for
the sewer bond issue for $4,000, being
from a Cincinnati firm. The tenders
We're opened at last evenings council
session and after the LOT had been open
ed and read, an executive session was
taken in order. to determine the merits
Of the respective bids.
The bids received for the bonds are
as follows:
From Woodin, N1cNear &: Moore, Chi
cago: Offered to take entire issue OF
100000 at par, interest rate "A per
cent. Means premium of 100000 II bonds
run 20 years, minus accrued interest,
amounting to $4,250 Net bid, 2O-year
basis, S625,T50
From De Wit, Trimble & Co. Chica-
go: Net bid. $6O9,S26.
From n. w. Halsey & Co., Chicago:
TWO bids. Bonds delivered as per adj
vertisanent, S603,142; bonds delivered on
demand. $603,7So Accrued interest al
lowed city.
From L. II. Rollins & Sons ana Har-
ris Trust 6; Savings Co., Chicago: Net
bid. 1904 800.
From A. 3. Leach & Co, and First
Trust & Savings Co., Chicago: Net bid,
$6O6,TS7
From seasongood & Mayer Cincinna-
IT,: Net bid of sl26 1850 for $4,000 sewer
bonds.
In the executive session only two We're
considered. those being from Dewitt
Trlmble e Co, and Woodin, McNear a.
Moore That of the Woodin people was
made by telegraph. but fulfilled all re-
auirements. This firm offered to take
the Issue for par and II per cent inter
est, and the claim was made that the
lesser rate of interest would save the
city something like $2S,00D in the 20
years the bonds are to run This looked
pretty good to the councilmen until it
was shown that the $685. premium Of
fered by the Dewitt people. at AZ per
cent, compounded twice a year. would
be perhaps as good, If not better
proposition for the city. In the event
that the city should decide to refund
the bond issue in 10 years, which it has
a right to do, the bid of Dewitt. Trimblc
& Co. was considered the better bid.
TO determine the matter precisely, Il
recess was taken on the bond question
until S o'clock tonight, and the city
recorder authorized to employ an eX-
pert to figure the matter down to the
cent and report TO the council this
evening.
ONE MORE SALOON.
The council took flop on the ques-
ton OF granting the petition of Henry
NJ. Dinwoodey and other business men
on First South street protesting
against the granting of q saloon IL
cenSe for % west First South street.
A week ago the council voted to grant
the petition, but Councilman Black gave
nntiDn ,,f inn for. a ti,,,,
and last night he insisted on the mo-
ton and the acton of the council
granting the petition was rescndcd
The matter was not finally passed on
however, as no request for Il saloon H.
cense has yet been placed with the
council The former occupants of rs
cast First South street, however, were
ousted, it is understood, in order to
make way for saloon in the premises,
and all arrangements are being made in
fitting the place up for n saloon.
ESTIMATE ON PAVING.
The final estimate on paving extern
sion 23 on West Temple street, amtEnt-
ing 70 $2,S7o.43 in favor of p. J. iIo-
ran, was finally passed. The matter
has been held up for a long time on
account of the work having been de-
layed 224 days beyond the date fixed in
the contract for the completion of the
job. 1t was shown to the council that
the delay had been no fault OF the
,o,,s, tt.s "'pii ny t'ti'ou''l "a' u
a report WAS submitted by City En-
gineer. Kelsey, showing the cost of paw
ing extension 81. on First avenue. re-
Gently completed, to be $55 1922, OF
which sum the Utah Light e Railway
company paid $7,516.6l making the
net cost $47,9TS66 or this the city's
portion was s16.S53.3S.
A request for refund of s46 Sc for the
time his liquor license WAS held up by
tbs council. was received from l.. l..
Willie. This is the restaurant keeper
who said he didn't care IA cuss'' for
the council and i'll consequence his
license was held up IA days.
N1h1,.E,-, Nrr-DrD