Arizona republican., 1921-12-09
Six Bids Received


 Six sealed bids for the bonds, rep resenting about 30 of the largest bond houses and brokers in the United States, were opened by the board at 2 o'clock yesterday afternoon After the bids had been figured the board passed a resolution rejecting all bids but those of the Bankers Trust com pany of Denver, and declaring that one of the two bids made by this company will be accepted. the one chosen to be designated at 10 o'clock this morning
 The Bankers Trust company made two offers to purchase the bonds at 6 per cent interest. each offer carry ing the same premium, s3o0.15o. One of the offers was to take the bonds in a lump sum. the money to be paid as soon as the legality of the issue had been determined and the bonds delivered The other offer made by the company was to purchase the bonds in installments to be taken as follows: $1,000, 0oo immediately; 1000. 900. Feb. 15, 1922: $I.000. .00e. May Is: s1,000. 900, May IS: s1.00o, 900, Aug. IS. and s500.00O Nov. l. A cash ier's check on the Valley bank of
 Phoenix for s240.75O as faith money
 was attached to the bids and was re- ! tained by the board. All other checks
 were returned to the bidders. Under
 the bids made by the Denver com-
 pany. the first coupon. calling for in terest for six months on the bonds. is to be clipped ana retained by the board. which means the interest on the bonds will begin with the second coupon
 To Give Decision Today The board will announce today which of the two offers it will accept. The offer of the Bankers Trust com- pany for the bonds in instaIlments is not in accordance with the plan for the sale of the bonds as advertised by the board and for that reason many are of the opinion it. cannot be ac- cepted- The board advertised for the first installment to be $500. 900. with four installments of Sl.000,000 each. Those in close touch with the bond issue state the board should accept the lump sum offer of the bidders. citing as their reason the litigation and consequent tieup in the first bond issue of S4 ,000, 900. which was sold in 1919 by installments-
 The Bankers Trust company of Denver in bidding represented a syn dicate composed of the following houses: The Harris Trust and Saw ings bank, Chicago; William F. Compton company, St. Louis; the Union Trust company, Spokane, | Wash, and the Bankers Trust com pany of Denver. They were repre- , sented by w. F. Godbe, who was present when the bids were opened
 The Bankers Trust company recently purchased several issues of school | bonds in the county.
 Several of the bids received by the board were for bonds to bear interest
 at 51s per cent. but under a ruling made by George D. Christy, deputy county attorney and advisor to the board of supervisors, these bids could not be considered because the bonds
 were voted in as per cent bonds and were so advertised by the board. All Bids Offered Premiums The second high bidder for the bo1 s was Cyrus Peirce and company i of Los Angeles, representing a syn | dicate of the Bankers Trust company of New York: Stacy and Brown. New York; Kissell Kinnicutt company. ! New York; the Anglo and London Paris National bank of San Fran- l cisco; Hunter Dulen and company of Los Angeles. and Cyrus Peirce and | company. Their bid for the per l cent bonds carried a premium of l S246.150 with accrued interest. 1 Another bid opened was that Of l Blythe, Witter and company of Los l Angeles on S1,500.000 of the bonds | at 51s per cent at 2 premium of $2-S7 | on each s1000 bond. Alfred T. Brock 1 of San Francisco hid for the entire