Daily capital journal. (Salem, Oregon) 1903-1919, 1917-09-13
BLOCK OF
ROAD BONDS SOLD
Salem Bank Bids In Issue
For Eastern Security
Buyers

4! Portland, Or, Sept. 13.-The second
block of 100000 of the states $6,0OO,-
900 issue of highway bonds was sold
yesterday by the State Highway Com
mission at a meeting in Portland for
$3.50 more than the first block of the
same amount brought a few weeks ago.
The Capital National bank, of Salem
bidding for E. II. Rollins & Sons and
the National City Bank of New York,
got the bonds sold yesterday on its bid
of SAP, 1870. This was on a basis of
'94.426 and accrued interest. The bonds,
on this basis, will return the equivalent
of 4 So per cent interest.
First Block Sells for S471, 800.
For the first block of $500 900 of the
bonds, also sold through the Capital
National Bank, of Salem, $47l 800 was
received by the commission.
There were four bids yesterday for
the entire 100000 block, and one bid
for $4,000 worth of the bonds. The bids
and bidders We're as follows:
Capital National Bank, of Salem, for
f. H. Rollins & Sons and the National
i, City Company, of New York, $472, 1870.
Lumbermen' g Trust Company, of
Portland, $466, 700.
Henry Teal, of Portland 1866, 800.
Harris Trust & Savings Company of
Chicago and Clark, Kendall & Co., of
Portland $3.50, O05.
Citizens Bank of Portland, $4,000
i worth of bonds at AS per cent.
The Commission at its meeting yes
terday, which was a brief me-, transac
ted some important business.
Highway Route Chosen.
1t decided the important question of
the location of the Columbia River high
way in Columbia county near st. Helens
by voting that it shall follow the so.
called west side route. This route will
carry the highway through Houlton,
which is now a part of the town of 81,
Helens by annexation, but not through
st. Helens proper.
Selection of this route settles a long
mooted question. 1t eliminates 10 rail.
road crossings, besides saving two miles
in distance. Commissioners Benson and
Adams voted for the west side route
and Commissioner Thompson did not
vote.
Road to Reach Arlington.
The Commission also decided that the
Columbia River Highway this side Of
Arlington, in Gillian county, shall fol
low the Columbia river from the John
Day river, which divides Sherman and
Gillian counties. This brings the high
way into Arlington via Quinton and
Elalock. The condition was made that
the Gillian county road districts involv-
ed shall vote a 10-mill levy to be cx-
pended III the highway.
The decision to adopt this route to Il
considerable extent nullifies the pre-
vious tentative decision of the Commits
sion, pending IN investigation, to route
the highway in Sherman county away
from the Columbia river and by way
of the town of WaseO and Mcdonald IS
Ferry, and thence to Arlington.
That part of this proposed route via
Mcdonald s Ferry is automatically elm
mated by the decision to follow the Col
umbia river in Gillian county.
East Side Road First.
The east side trunk road of the Pa
cific Highway is to be completed be-
fore the west side road, the Commits
sion decided, because, in view of the de-
sire of the people Of the west side for
a circuituous route from McMimville
to Bellevue to Ballston, and thence to
Dallas, the east side road will be much
more direct. The Commission took the
view that the interests of the state as
a whole require completion of the direct
route before any m~eandering route shall
be constructed.
Bridges To Be Rushed.
This decision is understood to be sat
nAs