The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1911-05-03
THE FIRST-NATIoNAL BANK OF
COMMERCE SECURED
BONDS AT PAR.
BOUGHT AS AN INVESTMENT
Architects Are Presenting Plans For
The School Building And The
Work Will start Soon.

That the credit of Hattiesburg is
good at home as well as abroad and
that the municipal securities are in
active demand, is shown by the fact
that The First National Bank of Com
merce has purchased the recent issue
of $4,000 High School bonds at net
par.
This purchase not only speaks well
for the citys credit, but it reflects
credit on the patriotism of this great
financial institution and indicates
healthy condition in the local money
market. The First-National Bank OF
Commerce did not buy these bonds for
eastern customers, but as banking
investment, and by their purchase
they will retain some thousands OF
dollars in interest payments here at
home Time was when large sums OF
money for municipal or county i'm
provements could only be secured In
the east or the north, but times have
changed, and southern financial insti-
tutions are rapidly reaching that d
nancial strength where they can take
care of the south's financial necessi-
ties. 1t means something for city
to have within its bounds financial
institution OF the strength and public
spiritedness Of the First-National Bank
of Commerce.
Time was an important factor In
the sale of these bonds, for 1t is the
purpose of the City Commissioners
to have the new High School ready
for occupancy by October 1, and had
they been forced to seek other mar
kets for the bonds or to advertise
them. it would have meant delay Of
sixty days. AS it is architects are on
the ground and plans for the big
school have been submitted and are
being considered by the Commission
+ ers in conjunction with the School
n Trustees.
Architects Submit Plans.
e Architect Smith, of Gadsden, Ala,
h was before the Commissioners and
= the Trustees yesterday. Architect r.
e E. Lee, of Hattiesburg, is being given
d a hearing today, and there is little
o doubt that one or the other of these
plans will be accepted. The plans OF
r. Architect Smith are a replica Of the
D. High School at Gadsden. The plans
O. of Architect Lee appear quite as good
le as the Alabama plans and both sets
" of plans have appealed most favorably
n to the gentlemen in charge of the
school enterprise. Architect Lees
plans provide for a building 104 by 151
feet, consisting of two stories and 6
very useful basement. The building
n will, aof course, be ofEbrick, and &C
M cord Ag to the plans will prove al
Ornament to the city. The auditorium
arrangement in this set Of plans i
particularly pleasing.
AS soon as the plans have bee
ed agreed upon estimates for the cor
phi struction of the building will be II
he vited though the factor of time wi
ld- render it impractical to advertise fc
ed bids. as that would take at least sixt
Ter days additional time. When the e
we Inmates are received, the Commission
nd ers will act promptly, giving the CO.
ru- tract to the most acceptable bidde
ln- with a natural desire to give the co
vas tract to a home man, all things beir
equal. The construction of the bull
ing will begin within the next thirf
days and will be advanced as rapid
rs. as possible.
The Commissioners have had
formidable undertaking in connectit
was with this school, but have handled
, of in business-like and public spirit
by manner Feeling that they were che
en to serve the people, they put q
question of whether or not the bull
ing should be erected up to the votei
Now that the voice of the people h
ton been expressed they are trying to.s
cure the best possible structure tn
,sed the money will buy, looking at {
Ions same time to the question of time a
the necessities of the situation.