The San Francisco call., 1908-09-10
ANXIOUSLY AWAIT
ACTION ON BIDS
Financial Houses and Banks
Hope They May Get Some
of the City Bonds
Clerks Spend the Day Tabulat=
ing Figures and Cut Down
Rollins Lead

Supervisor Giannini. chairman of the
public utilities committee, TO which were
referred the 101 bids for the S3,2S0, geo
worth of municipal bonds at Tuesdays
session of the board, expects a lively
controversy between the representa-
tives of the highest bidders at today's
meeting of the committee which will
consider the award.
After working most Of the night and
several hours yesterday morning the
clerks office sent tabulated statement
of all the bids, with percentages of in
terest, premium, ETC., to the printer
and each of the supervisors will have
this guidance at today's discussion. The
bid of E. II. Rollins & Sons and y. w
Harris & Co. remained yesterday, after
the tentative aggregations of individ-
ual bids by the clerks, still the highest
offer to the city. Their net lead of
about $4,000 over the field on their total
offer of $3,514,520 was reduced in one
combination. by the inclusion of the
states bid on the hospital bond issue
(s29S,500 for $2S0,000) to some $4,000.
William H. Crocker was the runner
up" on all the bids 1t is probable that
the city would have had to accept an
offer considerably worse than the 4 IL
per cent interest basis if he had been
out of the race. AS it was, his bid on
was the highest received for this con-
siderable block of the securities.
Besides the 10 proffers TO take the en-
tire quadruple issue of S3,2S0,000 par
value offered, there were a number of
bids for all the bonds for some one of
the four classes-fre protection. sewer
school or hospital securities For the
s1,000,000 worth of fire protection bonds
William II. Crocker made the highest
off Of
than 7.5 per cent.
Other xbidders for the s1.OO0.000 of
fire protection bonds We're: National
city bank of New York. Speyer & Co.
and II. w. Halsey & Co., $1.O62, ,S75.54; ;
First trust and savings bank and the
Merchants loan and trust company of
Chicago, s1,035, 300; and II. w Poor &
Co. and Perry. Coffin & Burr of Boston.
$1,019,300.
San Jose safe deposit bank of savings
bid for all of the $4,000 worth of
sewer bonds, Crocker Offering the
highest premium, s59,O39. The National
City bank of New York and the firms
associated offered premium of $40
259.27, and the San Jose institution
s2S,117.6o. The Chicago houses. offered
s26,640 above par and the Boston firms
s15.440
III &C Dldo "tit OllCieQ lOT ali VI tie
Sl.200.000 worth of school bonds.
Crocker again led with premium of
S1,S37.2S. The New York combination
offered a s64,543.s2 bonus, and the Chi
cago banks .S24,360
The small single issue of $3.50, ,00G for
hospital purposes attracted eight bids
for all the bonds. The state board of
examiners here entered the highest bid
S29S,500, a premium of SIS, 500. Crocker
came next with a premium of s14.-
547-S2; the First national bank of Oak
land third with S14.25750: the National
City bank of New York and its associ-
ates fourth, s12, ,621.5S; the German saw
ings and loan society fifth, s11 ,050; the
San Jose safe deposit bank of savings
sixth, s6.99S.60; the First trust and
savings bank and the Merchants loan
and trust company of Chicago seventh.
S4,2S4, and the French-American bank
eighth, $500
Nearly a quarter of a million dollars in
certified checks and in gold and silver
coin was deposited with the city yes
terday by the bidders. The 10 bidders
for all securities left their checks for
$4,000 each, the maximum amount re-
quired, whatever the total of the bid and
the smaller bidders deposited per cent
OF their proffer. The checks and $3.50 in
gold and silver coin were deposited at
noon yesterday in a safe deposit box
OF one of the local banks. where the
s2l5,SS3 will remain until the award is
comnIefed