Pine Bluff daily graphic., 1917-02-27
Thru Loan Negotiated by Local Bond Dealer Pine
 Bluff Gets Cash.
DELAY INJURIES TO
 BENEFIT OF CITY
Municipality Said to Be SlO,GO0 Better on Thru Judge GGuEd's Handling of Lean Than if Deal With Little
 Rock Broker Had Gone Thru,

l A draft for $f30,40o, al,d a check for l Sl,400. the two aggregating in value /, $131,SO0, were handed Mayor Simon
 Bloom and City Treasurer Harvey Hogg yesterday by James Gould city
 t1scal agent, thus completing the
 transaction whereby the city has bor-
 roWed $150000, with which to take up
 and retire all it's outstanding scrip. The draft for $1304OO is the net
 amount received by the city, after the discount and other usual fees are de-
 ducted, and in this connection it must be remembered that because Of
 constitutional limitations preventing
 Cities from paying interest on loaos
 the discount fees act as an advance
 payment of interest. The $15O 00O
 was borrowed for three years, a small
 portion of the amount to be repail in
 January, 1918, and in January, 1919,
 but the great bulk of be due and pay.
 able January, 1920. II results, in actu- allty, in the city obtaining the money
 at rate of interest of just a littl, over per cent. one reason for this
 being that the city will draw interest on it's balances. The check for q d19 was for accrued interest, car ed be-
 tween January 1 and the date on
 which the money was turned over to the city.
 The city has been try,l,, to make such loan for severtl months. and Tn the meantime has been most sac. cessfully evading the ;rassure o,' some law suits on overdue scrip, being successful also in prevailing upon other persons not to file such suits. Several times it has appeared that the deal for the money was about to De closed, but on e;ch occa siou something occurred to prevent a satisfactory termination of the neef- tiations.
 Succeeds Where Others gail.
 A Little Rock man, member of llrm of bond brokers, was made fiscal agent for the cit. some months ago, and labored strenuouslv with Northern and Eastern investors and bankers, to float the loan. Finally the city voided it's contract with him. because he bad failed to close the loan in the time specified. Within q day or two thereafter, Judge James Gould of this city was made fiscal agent, and in just about month thereafter Judge Gould turned over q dfaft for the money, and,Teceived the certificates of indebtedness in ex- change, completing what is said by Mayor Simon Bloom to be lone of the pest loans ever made by any city in Arkansas"
 Judge Gould made several trips to Chicago and Cleveland in connection with the deal, and personally looked after the carrying out os the many de- tails and red tape" requirements Ii was stated yesterday that the city of Pine Bluff is about $1o,O0O better off the closing of this dealing. as against what would fave been the condition if the previous fiscal agent mad closed his deal Judge Gould came ln for considera bic praise and compliment yesterday, over the con- pletion of the transaction, in which ne displayed moro than ordinary in- terest because of his desire that Pine Bluff should obtain the funds which II has needed so badly for some months past.
 The money obtained through this loan IS just about enough to take LID overdue warrants and ether outstand- Ing warrants that will fall due with in short time. IL leaves the city only very small margin of funds Wlth which to operate, but tax paying tlme IS here, and it is only a short while before the city will receive rom the county collector portion ol US part of the collections.