The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1913-11-06
MANY BIDS ARE RECEIVED
leading Bond Companies and Banks
Send representatives to Kenosha to
Attest the Value of Kenosha Securi-
ties-Bonds to be Turned over Early.

Notwithstanding the fact that fnan-
cial conditions in this section of the
country are far from fattering, Keno
sha securities are not going a Logging
and the $4,000 bond issue offered by
the City of Kenosha on Thursday af
ternoon awakened spirited bidding and
the bonds will be sold at a premium.
Both issues Of bonds, the one of
900 for the new addition to the
Balm school, and the second, 1000 for
the sewer, will be sold to Mccoy and
Company of Chicago and the net return
to the city from the sale of the bonds
will be $86,592 and the accrued inter
est. The fact that there is market
for Kenosha securities was shown by
the fact that there were thirteen bids
for the bond issues and the bidders in
,cluded the best known financial insti-
buttons in this section of the country.
Nearly all of the banks and bond
houses made a bid for both issues in
lump sum, but the bidders who sep
ence by offering larger premium on
the twenty year school issue of SAC, 900
than they did on the smaller sewer is
sue which was to run but ten years.
There was large company of bond
agents present when the bids were
opened late Thursday afternoon and
they expressed the belief that Kenosha
had struck an excellent time for the
sale of the bonds. 1t was held that
the fact that income tax would not
have to be paid on the bonds this year
aided materially in getting so good a
price for them. This was the first time
that Mccoy and Company had bid for
Kenosha bonds. The company is one
of the old Illinois companies and is en-
tirely reliable, After the bids had
been opened the company was notified
BY wire that its bid would be recon-
mended for acceptance by the finance
committee of the council
The formal sale of the onds will take
place on next Monday night when the
council acts on the report Of the com
mittee. The Harris Trust and Savings
Company of Chicago was the second
high bidder on the issues, this company
offering the city premium of 81, 42S
The list of bidders and the premium Of
fered by them follows:
Mccoy and Co., Chicago. -. 81 ,592 90
Harris 7. and S, Co., Chicago. 1,42S.OO
First 7. and S. Bank, Chicago 1880
N. w. Halsey and Co., Chicago 1,247.oO
Continental and G. Blk. Chicago 1,147.5O
First S. and 7, Co., Milwaukee 1,0S0.00
Merchants and S. Blk, Kenosha 1862
Second w. S. Blk, Milwaukee 10000
Merchants L. & 7. Co., Chicago 901. 90
Il. II. Rollins and Sons, Chicago 671.5O
G. II. Coffin Chicago ......... sol 90
Splitter, Roricl, & Co., Toledo, 0. 265 so
Farson and Son & Co., Chicago 255o0
All bids were made subject to imme-
date delivery of the bonds and subject
to an Examination into the legality of
the issue on the part of the attorneys
for the purchasers.
The finance committee of the council
was considerably gratifed with the
bids received on the bonds as they
had been led to believe that it would
be a hard matter to get par for them.
The bonds are now ready for the sig
nature of the mayor and the city clerk
and they will be issued early in
November.