The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1915-04-01
$4,000 OF 3O-YEAR- S PER
CENT. BONDS BID IN BY
CHICAGO FIRM
CONSIDERED "A
SPLENDID PRICE
Nine Sealed Bids Were Received
for tne Bonds4-H. T. Holz
& Co. the Purchasers

Tha ,ity's $4,000 OF SO-years, 5 per
cent. street paving bonds. we're bid In
by the H. T. Hoitz company or
Chicago. for $s5.100 at meeting OF
city council held yesterday at noon
FOR the purpose of receiving bids on
| the issue. This is a premium OF ST.
100. which is considered an excellent
| price for the bonds. Intareat on tho
| bonds is payable semi-annually. IL
! Nine Bidders.
! When the noon hour arrived there
We're nine sealed bids on the mayor's
desk. Before bids were opened the
following resolution was adopted:
Resolved, That the city council
proceed to consider now only sealed
bids, provided that any bidder may
now put in sealed bid before any
bids are opened, and provided, fur
ther. that the city council reserves
the right, when all bids are opened
and announced, to receive further bids
/ from those who have made sealed
bids and qualified by depositing
4 check as required.
j With this resolution adopted the
clerk then proceeded to open and
tabulate the bids, all OF which were
1 On 30-year. 8 per cent. bonds, as fol-
lows:
| Seaongood & Meyer, par, accrued
interest. premium OF $1,2s0.
Sidney. Splitter & CO.. par premium
Of SIZE allowance OF Ave months In
terest.
\ r. NJ. Grant q Co, par, accrued In
4 itereRt. No premium. 1ss y ~ x s ~
j. II. Hllsman g. Co. par aiil ac-
crued interest. No premium.
Bank of Columbia. bid 9S,
II T. Hols & Co., par. premium Of
Wen Roth & Co., par. premium ol
SS8S.lO.
Harris, Forces & 60, no eertlaed
check attached. II s n I,
Breed, Elliott e Harrison. par, ac-
crued interest and premium OF ST.
4 2S9. 80. y: q
/, Security Trust Co, fspartanburgf
par. accrued interest and premium of
800.
Mr. w. S, Glenn. president of the
Security Trust company or Spartan
burg, stated that under the resolution
adopted by the city council before
the bids were opened, he desired to
submit a bid on 4 1-2 per cent. bond
He offered So.
i Council Decides.
Council then retired 10 the mayors
effice to consider the offer. Return
ing in few minutes. council stated
that 1t had decided to confne the bids
10 30-year 8 per cent. bonds, and de-
sired to know IL any further bids. AT.
this time H; Holz g Co. of Chicago
were the highest bidders, having 81
4 fered a premium OF 81 .907.34, the to-
tai offer for the s8S.000 OF bonds be-
4 ing SS4,907.g5. L
MIR. Glenn OF the Security Trust
company OF Spartanburg stated that
he would raise the Holz bid by $26.
Mr.. Pearson, representing Hois, stat
4 ed that he would raise the Spartaii-
burg bid by $500, bringing the preni-
iun UP to S2yO32.35. MIR. Glenn raised
the Holz bid again, by S25. bringing
the premium up to S2.0k7.S5. Mr..
| Pearson, Holz's representative. .saidhe
would make the bid oven money,
s2.lo0, raising MIR. Gienn's last bid by;
$42.65. Mr.. Glenn stated TINT he had
no further bid To make but declar-
ed that he would. like to buy 4I-2
per cent. bonds and that while as,
! large amount OF money would not be
available under this bid az the Holz
\ bid. yer he would arrange to furnish
/ the city the difference in amount on
short time loans. II.
The memberg Of the council discuss-
ed the bids fuft,ier, and by resolution
voted to accept the bid OF II. T. Holz
4 & Go. or Chicago. the city TO receive
/ $50, 100 for the $4,000 OF bonds.
The form of the Hols bid resdG as
follows:
For SIS, 1000 street paving bonds OF
iyeur city, as described IN the state
Iment sent las, said bonds 10 be dated
May LIST 1915. and to become due and
a Rayable May 1st 1876, without option
\ Of prit e payment. said bonds to be IN
Il the denomination of one thousand doiA
lars and to bear interest at the rate;
OF 5 per cent. per annum payable
& semi-annualIy at some bank In Chi
tcago or New York city. as acceptable
TO this city. said bonds and AZ such
4 copies OF legal proceedings and other.
8 certificates as may be necessary. 10
Il beS eliyered 10 us at the Central Trust
company or II llnoiS Ghicego. srei will
q pay eigh five thousand, one hun srea
and ro-t00 dollars So 5. 1901 togsthers
win the interest aerning on said
bonds from the date thereof until The
Il date OF the delivery .pf said h0llds to
q sres and rye VIII supply sanf city With
isS1 Aeeesssry blank bonds free OF
y lehafee
sncloSEsi nera3 sth sen 81 q I|sls, akI,
ktefflnp0 cheek ia fhn .9 1f one