The Birmingham age-herald., 1915-12-03
Law Stipulates How Issue Is to Be Disposed of by
 Officials
STATES INTERESTS
 ARE SAFEGUARDED
Governor Finds Some Opposition, But Sees No Signs of Formidable
 Antagonism Organizing for Fight
By l.. s. BETTY

Montgomery, December 2.-(SpeciaL) No question or political issue that has arisen in Alabama in years has created as great interest in official circles at the capitol as the proposed constitutional amendment authorizing the issuance of S1, ,50o, GOO of bonds for the retirement of the floating debt of the state. With the sin gle exception of the fight to make prohibit ton a constitutional inhibition, the bond issue probably supercedes in interest any question that has confronted the people of the state in a decade or more.
 Officials are constantly enquiring of visl- tors to the capitol concerning the prob able outcome of the election in their home districts. Political observers and leaders notwithstanding their predilections in the matter, are evincing the same interest And even the farmer from the backwoods representing the class sometimes referred to as blowing with the "one-eyed mule, is conscious that soon he will be called upon to exercise his right as a sovereign voter on one of the most momentous ques- tions in the recent history of the state. But the man most interested is the gov ernor of Alabama. Not only because the proposed bond issue is an administration issue is he concerned, but because, in his opinion, there Is not other way to relieve the state of it's floating debt. The bonds must be authorized, he believes. as a pro- lection to the states fair name and credit HOW BONDS ARE SOLD
 In the event of the adoption of the con- stitutional amendment, the sale of the bonds will be in the hands of the gover- nor, the auditor, and the state treasurer This is provided by legislative act. This act, concerning which littl seems to be 1rf ernor, within 30 days after the adoption of the amendment, to advertise in three daily papers in the state and in two f1nan- cial journals outside the state that such bonds are ready for sale and delivery and calling for bids upon the entire issue of bonds. The advertisement of sale, ac- cording to the act, must also state when the bids will be opened. The act then reads:
 ''On the date set for the opening of the bids the governor in the presence of the auditor and state treasurer shall open said bids and if sufficient amount has been bid therefor shall make sale of said bonds to the purchaser or purchasers bid ding the highest amount for the same. provided that said purchaser or purchas- CTS shall immediately pay the cash there- for: and provided further, that in the opinion of the governor, the auditor and
 
 for an amount less than their real value and in no event 'ess than par"
 This provision was inserted in the act according to Governor Henderson, so as to relieve all doubt as to the proper handling of the bonds. Several reports have reached him recently that voters in certain sections of the state were i1l- quiring as to how the bonds would be sold if authorized intimating that pos sibly large fees might be paid in the transactions of that business. As will be seen, however, the law prevents traffick- ing in the state bonds.
 ANTIBOND CAMPAIGN
 No reports, to be regarded as authentic, have yet reached Governor Henderson as to any concerted efforts on the part of opponents of the bond issue to defeat the amendment. Several rumors have reached the ears of the governor and ether officials regardins an antibon5 issue campaign, but little credence or sig nificance has been attached to such re- ports. That the bond issue has it's op- ponents is admitted but it is not believed that their antagonism will assert itself