The weekly tribune and the Cape County herald. (Cape Girardeau, Mo.) 1914-1918, 1915-12-10
COUNCIL VOTES
TO Sell BONDS
NEXT MONDAY
Asks For Bids On so And
Describes Manner of
Retirement.
BOND BUYERS WANTED
TO BID AT AUCTION
Council Has Executive Session
Premium Expected-$lO00
Ernest Required.

IfldC DluS LOT LIE 'p4V,OOV fairgrounds
park bonds will be opened and the
bonds sold to the highest bidder next
Monday night at a special session of
the Council.
The Council in executive session de-
scribed the exact form in which the
bonds vii! be sold and notice will be
sent to all the bond buyers and in
vestment bankers who have CORES
pended with the city officials concern
ing the bond sale.
| A check for $1,000 also will be re-
quired to be filed with each bid as
earnest money on the bond sale.
Several representatives of st. Louis
bond houses as we'll as local bankers
were present at the meeting Of the
council anticipating that the bonds
would be sold last night. The bond
men were prepared to bid on the paper
at an auction sale conducted by the
council, but the council decided to
withhold the sale till the close of the
week, when other companies will be
given an opportunity to bid on the
proposition that the city offers.
The bond that has been decided upon
will bear interest at per cent, and
consequently, it is anticipated that a
premium of several hundred dollars
will be realized on the bond issue of
$4,000.
The bonds will be issued serially,
dated January 2, 1916, and the interest
payments will fall due at the First
National Bank of Cape Girardeau. The
first of the bonds will be retired at the
end of years, the time set by the law
as the period which they must run be-
fore the city can commence to take
them up.
They then will be retired at the rate
of $4,000 year for eleven years. For
each Of the three years following that,
but $4,000 will be retired year and
in the last year of their course, only
81 900 will remain to be taken up by
the city.
The determination of the City Coun-
Gil to hold an executive session was
made after E. j. Deal, ofthe Southeast
Missouri Trust Co., and two or three
Of the ST. Louis bond men spoke tC
the members of the Council, pointing
out that no one definite proposition
had been put up for bid.
Letters had been written to the bono
houses asking for bids on securities al
4, Az and per cent interest rates
No other stipulations as to the date OF
manner of retirement had been made
so that, the bond men argued, in as
much as those conditions made big
difference in the bidding, the buyers
could not bid on the same proposition
The city had not asked any of the
the bidders to put up earnest money
either, feature which has been in
Guided in the new proposition.
Immediately proceeding the discus.
sion of the bond sale, the Council
passed an ordinance announcing and
declaring the result of the special cleo
Ition November Is, in favor of the park
bond issue.
The Council also heard the monthly
reports of officers and authorized all
warrants for bills and salaries against
the city.
The Civic Improvement Association
of the Cape, an organization Of WON.
en-, presented request that should the
city council create park commission
to be in charge of the public parks
after the fairgrounds park is taken
over by the city, that woman be
made a member Of the commission.
with pent in vigor and Indignation. His
footwork in the small space allotted
to him for the speech was marvellous
and athletic, as he shifted from one
side to the other and back and for.
ward in his description of the sinking
of the coal collier.
Hobson closed his argument by in.
Producing the gentleman who began
talking about the 'hat," so that the
roomful of people maintained digni-
fiend and discreet silence. The chat
was passed and Hobson sat hack and
smiled and gazed at the ceiling as he
listened to the clink of the nickles and
dimes dropping into the well.
Hobson while in the Cape was es-
corted about the city by W. H. Stub
; blefeld, Jr., Tom Juden and others
He went to Jackson in the afternoon
where he gave his speech. During
: this talk he praised Congressman Rus
sell for voting for the Hobson amend.
ment. .f4ksASy