The Morgan City daily review. (Morgan City, La.) 1916-1920, 1919-05-24
VIM. R. Compton Invest
ment CO. Awarded
Parish Bonds
st. Louis Firm Bids Par, Ac-
crued Interest and
$11,25O Pre-
m u m


teen representatives of state banks
and northern bond houses arrived in
Franklin Thursday and took posses
sion Of the town, flushed with money
and youth and out for a good time
within reasonable bounds. riding all
the Jltneys and cars they could get to.
One Of them took possession of Mr.
Vincent Loustalot's horse and started
off with it until captured and arrest
ed by his companions and fined heav-
lily for his offense. Hats were
sprinkled around the streets as an
unnecessary article of wear.
They were all on hand with their
bids when the police jury assembled
Friday and convened as the Admins
traitors of Road District No. l. Be-
fore opening the bids, the ballot box
es were opened and the vote for the
good roads bond issue was canvassed.
But for the sole lone vote from Ber-
wick officially tabulated against it.
the vote was otherwise unanimous.
Police Juror Pharr from Berwick
disclaimed the adverse vote being
his. After the tabulation,. the bond
issue Ordinance was passed and the
bids were then opened and read aloud
by !. Secretary O'Nieil of the Jury.
Adjournment was taken for dinner.
After dinner the bids were tabulated
and it was found that the parish
bonds stood in high esteem, as the
premium bids were numerous. OF
the many bids received the four
highest were:
VIM R. Compton Investment Co.
par and accrued interest and $ll,25o
Bonus. w.
!. Interstate Bank & Trust Co.. par
and accrued interest and $8Os0 Bonus.
Whitney Central Bank & Trust
Co., par and accrued interest and
$3.50 Bonus.
Hibernia Bank & Trust Co., par and
accrued interest and 1915 Bonus.
Marine Bank & Trust Co., par and
accrued interest and $3.50 Bonus.
Commercial Savings Bank par and
accrued interest and $3.50 Bonus.
The bid of VIM. r. Compton In
vestment Co. was accepted and the
Union Bank & Trust Co. was desig-
mated by the successful bidder as the
depositary for the fund. Mr.. Cot
tlieb, president of that bank, was
present and stated that his bank
would furnish bond cd securities for
the full amount of the deposit, and
that he was willing to share the de-
posit with any bank in ST.. Mary
which desired to associate itself
with him in acting as the depositary.
All bids were predicated upon the
election and bond issue being ap-
proved by reputable bond attorneys
Of the New York or Chicago ex-
change. Within the last month the
Supreme Court of Louisiana has rem
dered a decision which affects the
legality of all bond issues in Louis
lana for road building, and it may
be necessary for the Supreme Court
to pass upon the validity Of the pres
ent issue.
All the bids were predicated upon
the bond market and the successful
bidder has given the police jury four
months within which to have the le--
gality of the bends passed upon and
presented for payment.
The Parish of ST. Mary is to be
upon its excellent
credit, evidenced by the handsome
premium received for its bonds.
Mr.. F. D. Winchester and Mr.. K.
R. Hood, Cashiers of Morgan City
banks, were present at the meeting
and listened to the opening of the