The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-06-29
School Board, At Long Ses-
sion, Failed to Act On
Any of Numerous Offers
for Warrants.
ANOTHER MEETING
TO BE HELD MONDAY
Fair Premiums Were Of
fered By Most of Bidders
for the $150,OO0 Issue of
Warrants Authorized.

Bidders from various sections of the
country wrangled in heated four
hour debate with each other and mem
bers of the county board of public in
struction last night the boards attempt
to dispose of $150,oo0 in time war
rants without arriving at any defi-
mite conclusion.
Sig Steiner, of Steiner Bros, Birm-
ingham, was high bidder and recog-
nized as SUCH, but because of the
many qualifications in the per cent
bids it was decided to conduct a hold
over session Monday for the purpose
of receiving X per cent bids, with the
right to decide on the 6 per cent bids
reserved. Two propositions on 51k
only will be considered at the meeting
straight proposition for delivery and
payment at once of $150.00o and sec
ond proposition of deferred deliveries
with payment of $500 each 80 days
for months at the option of the
board. An attempt to put in deposit
8 tory bids was over-ruled.
The high bid was for a premium of
sc, ,090. straight proposition, with sec
ond bid of $4,590 premium with de-
1ayed deliveries of $3.50 per month,
the option to deliver sooner resting
with the county. It's constitutionality
was doubted, as the bidder had failed
to endorse the S2,500 certified check
required, payable to the school board
as, it was claimed, had previously
been decided upon. but was made
out to Steiner himself. After the board
held an executive session he was per-
mitted to endorse it in this way.
Five bids in all were submitted
each covering the full amount in time
warrants which the Florida legislature
has authorized for educational pur-
poses in this county. H. II. Adams,
Davies -Bertram Co, Cincinnati. Of
fered $3,075 straight premium, par and
accrued interest; Ray Baum, Silver
man and Huyck, Cincinnati, offered
$2,357 premium; Alfred Holmans bid
for J. G. Mayer and Co, Cincinnati,
was for s4,657 premium; The Ameri-
can National Bank of Pensacola Of
fered straight premium of $1,000;
w. L. SIayton and Co, of Toledo.
through their representative, Fred
Dean, offered par and accrued interest
and $3.50 premium as the first propo-
sition. $4,000 premium, par and $3.50
premium as the first proposition, $4,-
500 premium, par and accrued interest
subject to deposit with a Pensacola
bank the same to bear 4 per cent
interest, deposits to be $4,000 cash,
S25, 900 within 80 days, $4,000 within
go days and $4,000 within 40 days.
and a third proposition paying a prem
ium of $3.50 with delayed deliveries.
$25, 900 in 80 days and $4,000 each 30
days thereafter with the option of TAX
that in which event the company pays
y of 1 per cent on all deliveries. @. c..
Wood, of Graves, Blanchard Thorn
dyke, Toledo, was also among the bond
buyers al the meetinr. but he did
not make a bid.
Excitement Intense.
Intense excitement marked the meet
ing and Judge Beggs, chairman of the
board frequently was forced to inter-
rupt the arguments and call for or
der.
Contention centered around the bid
of Mr.. Steiner. Alfred Holman made |
vain attempts to pick flaws in the |
bids of Steiner Bros. The argument |
grew hot when ne characterized the |
formers bid without the required en-
dorsement as a famous trick of all |
bonding houses with meaningless fig |
ures and pleaded with the board that |
Steiner be not allowed to dicker with |
them when his case was so hopeless I
Steiner reiterated that his check was |
as good as a liberty bond with Hol- |
man still defying it's validity.
At this point Morris Bear, who was /
a spectator at the meeting offered |
to vouch for Steiner's check and said /
that he would put up a bet with Hol- /
man matching the amount of the Ger /
titled check. At this point the chair 1
man interposed and declared that wag- /
ers could not be allowed at the meet I
ing.