Rogue River courier. (Grants Pass, Or.) 1886-1927, 1912-05-03
CITY GETS SSO,595
FOR $4,000 BONDS
ACCRUED INTEREST ALSO IN
CLUDED IN BIDS.
CITY HALL CONTRACT LET
Goes to A. j. Green of Grants Pass
for Sum of S10,ioO-
String to It.

When the city council last night
had listened to the reading of the
minutes, Councilman Clark moved
that the regular order OF business be
dispensed with and that the council
proceed to opening bids for the $780,
900 refunding bond issue, and then
to follow Immediately thereafter to
open bids for the construction of
city hall This motion prevailed, and
Auditor Johnson opened and read
six bids for the bonds, with three
Representatives of three of the six
firms sitting anxiously few feet
away. The bids resulted as fol-
lows
Merchants Trust and Savings
company of Portland bid $7S,S51
and accrued interest. This was the
only bid submitted Offering a sum
less than par.
S. A. Kean & Co., bankers of Chi
cago offered sS0,64S.
Woodn, McNair and Moore, Chi
cago, bid $S0,4OS.
Henry Pratt & Co. of Tacoma of
fered par and a premium of 1926.
Halsey & Co. of San Francisco bid
par, accrued interest and premium
, of 1853.
First National Bank of Cleveland
, Ohio, offered par accrued Interest
and a premium of $595.50.
A concern signing itself "Municl
pal Bond and Stock Exchange o.
Chicago" sent in letter offerinl
$SO,S80. This concern did not in
dorse a certified check to make goot
its bids, which was the highest figure
offered "They haven't got $50,
000." remarked one official Of The
city.
The bids varied in their demand
as ts"plaGes of payment, Grant
Pass. Portland, Chicago and New
York. and In other minor detail
= which would affect the net cash t
the city as a result of eXchang
charges. etc. The question wa
which was the best bid under thes
, circumstances. The discussion end
n ed by a decision to send for Cit
Treasurer George p Jester who a
d banker, could advise the council
e When Mr.. Jester arrived the coun
s. ell took q recess of five minutes an
o the finance committee and Mr., Jeste
N took the bundle Of letters into pr
n yate seance. When they returne
ID Everton, as a member OF the flnanc
committee read its report, which wa
ID to the effect that the committee rec
5s commended that the bid OF par, az
st crued interest and a premium
as S595.50 offered by the First Nationi
In Bank of Cleveland, Ohio, be accep
ID ed. The recommendation when pt
to to vote. was adopted without an
member dissenting H. A. Newphe
ae representative Of the Clevelan
ne bank. walked up to the table an
as thanked the council for Its accep
TX ance OF his bid, and stated that
i. would expedite matters all he po
sibly could so that the deal could
finished quickly
City Hall Contract Awarded.
Immediately after the bond ma
by ter was closed the bids TO constru
nd city hall and fire station We
cd opened, with the following results
ed D. A. Fitzgerald OF Grants Pas
at s2O.593. to be paid in cash.
Day and Mcfarland Grants Pa'
go s2I225. Payment 10 be made
la funds current at par
ng A. J. Green. Grants Pass, 81
45O TO be paid IN cash as work pl
~ crosses
la- Smith Bros. Grants Pass, 81
os- 075 Nothing said about "caah." ."
Leonard Wiles Co. Of Medic
m- S22.SG140.
.he VI. J Clark. Grants Pass. son