Arizona republican., 1910-06-08
SCHOOL BOND SALE QUITE SATISFACTORY PREMIUMS ON THREE ISSUES
 S11,o13. The High School Bonds Bring Nearly
 s16o,oOo.

The board of supervisors yesterday sold school bonds, issues amounting to
 SIP, ,30O,, for premiums aggregating S11,013, so that there will shortly be turned loose in this community $1S4.- 313. The most important sale was that of the school bond issue of $15O,OOO, for
 which the following bids were re- ceived: Well. Roth & CO, Cincinnati. premium. $6,405; the Prevalent Savings bank, Cincinnati, $3,405; John Nuneen & Co. Chicago, $10O; William R. Compton X Co, St Louis. $9.255; the First National bank of Columbus. Ohio, $6,6653; Union Savings X Trust com- pany of Cincinnati, S5,000; Wo9din, McNear & Moore, Chicago, $7,029.
 This was the last issue sold and the premium offered by Compton & Co, though it would have seemed generous a few years ago, was rather smaller in comparison with the premium paid on the district No. l bonds recently sold. That issue was for $125,00 and the premium was a little more than s11,O00.
 The board was informed that the bid of Compton & CO, might not be re- garded as satisfactory by the trustees and it was stated that a meeting would be held in the afternoon at which the trustees would decide what they wished to do about it; whether to ac- cept the bid or to advertise again for bids. In the meantime an informal proposition had been submitted which of course could not be considered now; it was an incentive for advertising again. The name of the persons who made the offer was not given out. But it was proposed to take at par the is sue bearing interest at the rate of Az per cent. The rate or the proposed rate of the bonds is now , per cent. A calculation showed that Az per cent bonds at par would amount to a say ing over the Compton bid in twenty years of a little more than $500
 But in most quarters the premium was regarded as more attractive than a saving at the end of the twenty-year period. At 8 o'clock a message was re- ceived from the trustees saying that they were willing to accept the Comp ton bid
 The first issue disposed of was that of $19.000 for the Mesa high school The bidders were: Woodin. McNear Ss Moore. premium, s442.70; Well. Roth x Co. $191; James N. Wright & Co. of Denver. SIP: Union Bank & Trust of Phoenix. S1.55S: the First National bank of Columbus. OhiO $603 The bonds were awarded to the high est bidder
 For the district No. bond issue of $500, the bids were as follows: The Valley bank, premium $200: the First National bank of Columbus, S37; the Union Bank X Trust company. s14S. The bonds of all these issues bear 3 percent. A surprising thing about the bidding was its great range.
 The money for the high school bonds will be available in about thirty days and use will be made os it as soon as possible thereafter. The board has not yet decided upon a site for the new building, but it has plenty of room either in front of the present building or on the east of it, and has still more room on the blocks lying north. When that block was purchased by the board a few years ago some people professed to see the result of a conspiracy to plunder the treasury. The block is now estimated to be worth s12,000.