The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1915-10-21
QUESTION ON PRINTING BONDS
Fifteen Financial Concerns Bid for Ke-
nosha Issue When Bids Are Opened
On Friday Afternoon-Co Council to Act
on Monday Night.

The facts that the banks of the
country are bullying with money seek
ing safe investment was shown pretty
clearly on Friday afternoon when the
finance committee of the common coun-
Gil received fifteen bids for the
$125,000 issue Of the park bonds re-
Gently voted by the people and the
common council. 1t looks as if for
the first time in many years Kenosha
city bonds will be sold to New York.
The bid of R. M. Grant and company,
one of the greatest bond houses in New
York, appears to be the highest bidder
on the bonds and it is probable that
the bonds will be taken to an eastern
financial market for sale. There were
two higher bids so far as premiums
were concerned, but the Grant com
pany has offered to furnish blank bonds
or to reimburse the city for the cost
of engraving the bonds and with this
taken into consideration the premium
Of that company of $1,450 is regarded
as higher bid than a premium of
$1,525 offered by Parsons Sons and
company, of New York, or Mccoy and
company of Chicago.
1T is estimated that it will cost the
city between 800 and $3.50 to print
the bonds so that the bid of the Grant
company is pretty close to a premium
of $1,000. So many bidders came to
the city seeking to purchase the bonds
that it was found necessary to open
the bids in the council chamber. When
it was found that the Grant company
had the highest bid for the issue
representatives of two other companies
declared their willingness to furnish
bonds to the city at cost which would
bring their bids to even higher point
than the Grant bid Mccoy and com
pany, which some time ago bought an
issue of Kenosha bonds, was very
anxious to secure this issue. It was
declared that this company had buy
ers for Kenosha bonds in sight and
for this reason the company would be
willing to meet nearly any reasonable
demand on the part Of the city. The
representative of the company declar-
ed that he would submit some figures
on printing the bonds which would
make it a matter Of interest for the
Kenosha officials to accept the bid of
the Chicago company.
The price offered is regarded as a
very favorable one and as the bonds
draw four and half per cent interest
cipated by the members of the com
mittee and local bankers. Neither Of
the local banks bid on the bonds, but
the bid of the Farson s Sons and COM
pany was presented through the First
National Bank following a telegram
making a proper deposit with this bank.
The list of bids follows:
Parsons Sons Co., N. Y. .$126,525O0
Mccoy & Co., Chicago. -. 126,525.00
A. B. Leach & Co., Chicago. 126,4S50O
Harris Trust 6 Savings
Bank, Chicago ........ 126,481O0
*R. M. Grant & Co., New
York and Chicago ...... 126,45O.00
E H Rollins & Sons, Chicago 126,240.00
IN. w. Halsey & Co., Chicago 126,319.00
Merchants Loan and Trust
Co., Chicago ........... 126,2950o
Wells Dickey & Co., Mime
apolis ............... 12e,287.oo
*First National Bank, Mil
waukee ............ 126,226.oo
continental and CONNER
cial, Chicago .......... 12e, 17e.oo
First Trust and Savings,
Chicago ............ 125,843.75
FL. T. Holtz & Co., Chicago 125,73700
#Bolger, Mosser and Villa
man, Chicago ......... 125, $4,000
Hoehler, Cummings & Prue-
den, Toledo ............. 125,338.00
*Ofered to furnish bonds as part of
bid. The value of the printed bonds
is estimated at 1925.
The council will act on the bond
sale at its meeting on next Monday
evening. 1t is expected that money
from the sale Of the bonds will be
available within the next two weeks.