The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-12-14
DELAY BOND SALE.
Action on WaterWorks Bonds
Deferred Until Wednesday.
Only 100000 Worth VIII Be
Sold at That Time.

After fifteen or more hungry bid
ders eager to grasp the juicy morsels
In the form of the city waterworks
bonds to the amount of $535, 200 had
gathered at the meeting of the city
commission this morning, the sale of
the bonds was deferred until Wednes-
day morning, and the amount to be
sold at that time was limited to
100000.
The Contemplated sale of the bonds,
the whole amount of $535,000 in a
lump sum, had been announced on
Monday by Commissioner w. H. Was
son, speaking for a committee COM
posed of himself, Commissioner w. A.
Stanfield and Commissioner w. S.
Hancock. After the announcement of
WATSON on Monday, the committee
disa greed on the procedure of the sale
and disagreed until the commission
meeting had been delayed for an hour
after its regular meeting time this
morning.
Spoke in Plain Terms.
Commissioners Stanfield and Was
son talked TO each other plainly and in
no gentle terms across the polished
table surrounded by the city officials.
The commission voted down the mo-
ton to sell the bonds in the lump
sum of $535,000, with WATSON casting
the only affirmative vote.
1--WE think it is the best judgment
to offer only part of the bonds at
this time" Commissioner Stanfield of
the water department declared before
the meeting. For the benefit of the
city believe we should issue not more
than 100000 worth of the bonds at
this time"
I'VE agreed Monday that the bonds
should be sold in a lump sum-" Com
missioner WATSON replied. when the
announcement was ready for selling
them in such a way no one but my
D IL 41Il rr<f7
TO many dealers in bonds and have
been advised in every case to sell them
all now"
To Sell $500, 900 Worth.
Under the protest of WATSON the
city commission moved to sell only
100000 worth of the bonds.
We are gambling on the future If
sioner WATSON said. 1.-The water plant
cannot be completed in less than eigh-
teen months and we will not need all
the money for the plant at present"
The question of when to sell the
bonds came up next. The inclination
of the commissioner was to delay the
| sale for week Loud voiced protests
came from out of town bidders.
why, here are two of US that have
come all the way from Chicago for
this sale. We don't want to go back
and have to make another trip next
week"
Similar protests from other bidders
caused sideration of an earlier date
by the commission with the result that
Wednesday morning was chosen for
the sale. The method of the sale was
then considered.
"Who shall have charge of selling
| the bonds?' the mayor asked.
Commissioner Hancock moved that
Commissioner WATSON as head of the
city's finances be in charge of the sale
land conduct it as he saw fit. WATSON
did not agree.
You have tied my hands and then
pass the buck to me-" WATSON de-
clared.
1--WE haven't tied your hands," STAN
field retorted.
Eyes, you have; you've hog tied
them" WATSON said. "Oh, well, III
sell EN-"
A deluge of questions followed Was
sons acceptance of the duty of selling
| the bonds.
ride him to death, gentlemen, you
have our permission" Mayor Corwine
said, just before adjournment.