Elko independent. [volume] (Elko, Nev.) 1915-current, 1916-12-28
STATES gI0 BEST on
| HIGH SCHOOL, BONDS

Alta meeting OF the Board OF County
COMMISSIONER this forenoon, the bids
On the County High School and dormi.
tory bonds were opened and read. As
time was required 10 consider the bids.
. motion was to defer the awarding of
the same until four o'clock this after.
noon was made ana carried.
A number Of bidders are personaily
represented. Others sent In bids By
telegram and by mail. The bids com.
Ing by telegram were net accompanied
by, the required certified checks for
ten per cent. OF the amounts OF the
bids and Will not be considered.
In the Judgment Of the independent
the bid Of the State Investment Board
for the State OF Nevada Is the lowest
and best bid, and II 10 likely that Il
VIII be accepted. While the State does
not offer "a high premium as some
OF the other bids. It must be consid.
cred that q very considerable amour;
OF the interest paid TO the state ON
these bonds win be- paid back directly
TO Elko County. Everything consid.
cred, the bid of the State Is on the
basis OF four and forty-seven hun.
dredths per cent, which Is a very low
rate. of interest. The Board fixed the
bid at the lowest rate Of interest al
lowed by law. Ii Is. however, aboui
one and one-half per cent. higher than
the rate OF interest we are receiving
from school money loaned on Massa.
chusetts bonds-a number OF years ago.
Another item In the State bid which
Will undoubtedly be considered Is tho.
fact that legal bonds" are specified
In the bids. The only other that
specified legal bonds" Is that of the
Henderson Banking Co. All other bids
contained the specification that tho
bonds must be subject TO the approval
OF the attorneys for the bidders. This
clause sometimes causes needless de.
lays and other trouble.
Half dozen kilograms were re.
ceived by the Board OF Commissioners
stating that representatives OF intend.
Ing bidders and. bids were on the way
TO Eako. but they were ppayoldahly de.
iayed on account OF snow storms IN the
Rocky Mountains. Ali OF the tele-
grams requested tina. the opening OF
the bids be delayed, but the Board
rightly decided to open the bids as ad.
vertised.
The various bids received were ne
follows:
Bolger. Mossier q Williams, of Chi
cago, bid by telegram. a premium OF
$1,000 on the 100000 six per cent.
high school bonds. and a premium of
$4,000 on the S55.OO0 six per cent. dor.
mitory bonds. The required check OF
ten per cent. did not accompany this
hid.
Cummings. Prudden d Co., OF Tolc-
do, Ohio, offered a premium OF $12.602
on the total bond issue. This bid also
came by telegram and was not accom-. |
panied by a check.
Splitter. Riorick X Co, OF Toledo,
Ohio. made two bids. one on bonds |
carrying five per cent. interest, and
the other on bonds carrying six per
cent. interest. On the high school |
bonds carrying six per cent. prem.
ium of ss.175 was offered. and on the
dormItory bonds carrying six per cent,
premium OF S45o5 was offered. On
high school bonds carrying five per
cent. premium OF 5000 was offered,
and on the dormitory bonds carrying
five per cent. premium OF sl11o was
offered. semi.annual payments we're
required In this bid. which ls no; at
cording to the advertisement.
Sidney. Splitter & Co. OF Toledo,
Ohio, offered d promium OF $Ts75.Os on
the high school bonds carrying six pei
cent, and . premium Of $t,3S3 on the
dormitory bonds carrying six per cent.
On the high school bonds and the dor.
mitory bonds carrying five per cent,
premiums were offered respectively OF
st333.35, and sss5.35.
The state OF Nevada offered prem.
ium OF $e.sO2 on the high school bonds
at six per cent, and t3S1575 on the
dormitory bonds.
The Farmers and Merchants Ma.
tional Bank. OF Reno. offered q prem.
Ium of $4,000 on the high school bonds
at six per cent, and a premium OF
s275o on the dormitory bonds.
TillotSon. Wolcott Co., OF Cleveland,
Ohio. offered a premium OF S56Ol on
the high school bonds. and i2,274 on
the dormitory bonds at six per cent.
The Henderson Bank Company OF