Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1909-03-02

The successful bidder for the $290.00t
city OF Albuquerque sanitary sewer
bonds will be announced at an adjourn
ed meeting of the city council tonight
the result OF the meeting last night
bcing the elimination from considera-
ton of all but three bids.
These are the bids submitted by the
Providcnt Savings Bank and Trust
company Of Cincinnati, Ohio, the state
National Bank and the Bank of Com
mercc of Albuquerque.
The first named house, by c. b.
Emery makes clean bid for the
bonds at $304.SS0.
The state National Bank makes an
offer for IA per cent bonds of $500,
600: to furnish blank bonds to the
citv free provided the proceeds from
the sale Of the bonds SHAH remain on
deposit in the bank subject to with
drawal by the city as the construc-
tion of the sewer progresses; and Of
fers to pay four per cent ON average
daily balances
The Bank of Commerce makes a
bid of S290.000. with a premium of
$3.50 over and above any other bid;
Will furnish blank bonds free Of eX-
penso limiting the entire cost of
bonds under the bid to not exceeding
S305,950. The Bank of Commerce
and the Cincinnati concern both bid
ON four and half per cent basis.
The other bids were as follows:
Bond and Harrison. S297,s30.
L. H. Rollins and Sons, Denver,
S301.91g
Mason Lewis ana Company of Chi
cago, $500, els.
A. b. Leach and Company, s29S,
7S7.
Trowbridge Moir and Company of
Cincinnati. $295,40o.
Harris Trust and Savings Rank Of
Chicago $3O1 500.
Mccoy and Company, Chicago,
$302 SIS.
Wesern German Bank Of Cincin-
natl. Ohio. $S0O,500
w. Wroth of Cincinnati. $296,000.
American Light ana Water COM
pany of Kansas city. sS09.150.
The proposition of the American
Light and Water company as present
cd by Mr. Bullock, was conditional
on the basis that the company rc-
ceivc the contract for the building of
the sewer, at a ten per cent commits
sion, such commission to cease when
the expense runs over S240,000.
The council chamber was filled to
the doors with the representatives Of
the bond houses and spectators when
the bids were opened and read. on
motion of Alderman Ncustadt the
council went into executive session
which lasted for an hour and during
which il is rumored some rather live
ly tits took place between the mayor
ana member of the council
At the conclusion of the executive
session Mayor Lester announced to the
representatives of the bond houses.
that the council had decided TO post
pone the final decision as to bids to an
adjourned meeting to be held Tues
day night. rejecting for consideration
an bids except those of the Provi-
dent Savings and Trust CO, the Bank
Of Commerce and the state National
Bank. On motion of Mr.. Ncustndt.
the council ordered al certified checks
save those of the firms mentioned
above to he returned and the repre-
scntitivcs advanced and secured their
checks
Each bid was accompanied by n
certified check for 10000. 50 that
the amount of money represented by
the littlc stack Of slips in front OF
the city clerk was exactly Sl3o,OOO.
Mr. Bullock Makes Il Few Remarks.
Mr.. Bullock, representing the
American Light and Water company
of Kansas City. by permission arose
ana made a few remarks to the coun-
ell II will be remembered, Mr. Bull
lock on behalf OF his firm made a
proposition to handle the bonds and
build tho sewer before the bond Is
sue was voted on His proposition
was tentatively accepted but TIE ac-
ccptance was reconsidcred by the
council and bidding for the bonds left
open to the field
Mr.. Bullock said that he was Will
ing TO take the bonds at four per cent
al fiat par. and would pay in cash
May /. or in installments as desired.
tie declared there was no time to be
lost la building the sewer. that the
work should be in progress now, that
The city might 80 on hiring consult
ing engineers for year at the pres
ent rate and several other things Mr..
Bullock declared his proposition had
once been actually accepted by the
city and the contract then rescindeo
ANA the general trend of his remarks
was that he was not getting a square
deal He called attention to his pro-
posal to build the sewer, with a pro-
Vision not to accept the ten per cent
commission after the work had cost
more than s24o.0oo. saving that the
city was deliberately throwing away
a saving of $50 a00 not to accept IN,
unr~
The mayer explained to Mr. Bul-
ioek that the city council had prom
i>ed the people 10 open bidding fo'
the contract To the field and was
therefore not at liberty to consider his