The Palatka news and advertiser., 1916-04-14
PALATKA ANDB0STW|CK
DISTRICT ROAD BONDS.
Bring Fine Price Fifteen
Bids Received for Former.
The $208, 900 Issue of the Palatka Road
District Sell for 99.O7 and Accrued
Interest.

OF 9Hoo,OOO was recently voted by such
an overwhelming majority, were sold
on Wednesday to Cummings, Prudden
& Co., of Toledo, Ohio, that firm be-
ing the highest bidder at $206,068, or
99.O7 with acrrued interest. This ac-
crued interest means that the county
will not pay the interest from the date
of the issue, March 1st, to about
April Goth, when the Toledo people
will turn over the money and take up
the bonds. This makes the bonds
bring to the district $2O7,512.
Mr.. A. B. Morrison Jr., who repre-
sented the successful bidders, was
seen, and seemed quite pleased with
his success in outbidding his many
competitors.
"With one exception" said he,
"these bonds have brought the best
basis price of any district road bonds
yet sold in Florida, and for that rea-
son you people have every reason to
feel proud of the rating placed upon
your district securities. Palatka is a
live place, an all-the-year round
town in the midst of a coming great
agricultural section, whose advantages
are being noised abroad in SUCH man
ner rs tL lring great number of
permanent settlers. Palatka is re-
garded as one of the best cities in
Florida"
district road bonds," continued Mr..
Morrison, " are not as much sought
as county bonds. The county is rec
ognized governmental division, while
the district is an artificial division
which only continues during the life Of
the bonds, unless the Indebtedness is
assumed by the county.
"The Bostwick drainage bonds were
not sought because of the compara-
lively low assessment on the property
embraced in the district. Their road
bonds were different-the road dis
trict has a heavy assessed valuation
in comparison with the bonds issued"
Mr.. Morrison is a typical young
American financier, and a gentleman
of winning personality. He expects
to be in Palatka later, when it is
more than likely his firm will make
bid on the bonds of the Palatka-Rod-
man-Orange Springs district.
The Bostwick Road district bonds,
issue of $4,000, sold to W. l.. Slay-
ton, also of Toledo, for $25, 5,1SO, as
will be seen little above par.
The only local bank to bid on the
Palatka road district bonds was the
State Bank of Palatka, which made
through it's president, F. J. Fernside,
bid of $204,110. This was bid
Of SO, and while not successful, it is
fact that the representatives of for
eign bond buyers here assembled were
watching the local banks, thinking
that they would secure the issues.
This bank assisted in at least giving
that impression and thereby assisted
to boost the price.
The Putnam National and the East
Florida Savings & Trust Co., while
not bidders, were figuring with the
real bidders and also were interested
in the sale.
The following is the list of bidders
together with the representative Of
the firms and the bids:
Bostwick Road District.
F. L. Fuller & Co., Cleveland, O.,
F. l.. Fuller, $23,S75.
w. L. Slayton, Toledo, $25,1SO.
New First National Bank, Colum-
bus, Ohio, $23,75O.
Splitter, Rorick G. Co., Toledo, par
with accrued interest.
Cummings, Prudden & Co., Toledo,
A. B. Morrison, Jr., $24,50S.
Terry, Briggs G. Co., Toledo, H. G.
Bartlett, 23,S5O.
Gunter & Sawyer, Jacksonville,
S24,275.
U. S. Trust G. Savings Bank, Jack
sonville, Geo. Washington Booker,
$24,451.
Sidney Splitter & Co., Toledo, $24,-
426.
Palatka Road District.
Terry, Briggs & Co., Toledo, $20t,-
1877.
Gunter & Sawyer, Jacksonville,
$2O4,7SO.
New First National Bank, Column
bus, o., $197,6OO.
State Bank of Palatka, F. J. Fearn-
side, $204,11O.
Sidney Splitter & Co., Toledo, $780,
1860.
Splitter, Rorick & Co., Toledo, par
with accrued interest to date of pay
ment.
-Smith-Emert Co., St.
Louis, Mo-, by Moses Isaacs, $204,3S0.
Seasongood & Mayer, Cincinnati,
Ohio by James D. Chambers, $2O2,-
955.
F. L. Fuller & Co., Cleveland Ohio,
S2OO,1O0.
J. C. Mayors & Co., Cincinnati,
Ohio, S2O4,166.
Cummings, Prudden & Co., Toledo,
A. B. Morrison, Jr., $206,O6S, with ac
crued intrcest to date of payment.
C. W. McNear & Co., Chicago, Mr..
Guy Doty, S202,619.
John Neween & Co., Chicago, $197,-
600.
Security Savings Bank & Trust Co.,
Toledo, Oscar Moseland, S201 ,110.
U. S. Trust & Security Bank, Jack
sonville, S205,672.
On the whole the road districts in
terested in the transactions here rep
resented have every reason to feel