The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-08-30
ornrn rrorLEs MoNEY

OTHER PEOPLES MONEY
II is astonishing. tho liberties that are taken
with other peoples money. Especlay Is this
true in tho case Of public officials. The great
complaint made against administrators OF the
public service Is that they rarely transact the
public business with the same care and zeal that
they transact their own. And tho cause FOR just
complaint in this respect increases rather than
decreases.
The action OF the city commission IN tho sale
of tho S0O0,O 600 sewer bond issue Is a case di-
rectly In point The bids originally flied FOR
this issue wero rdculously low. the premium
running from S5.5s5 TO ;iosOO. Al the time,
the prevailing prices quoted In the open bond
market on such securities called for n premium
In excess nf $4,000. IL the commission ala not
know OF ne bond market condition # shoula
haye known; had the matter been private
transaction every man involved directly or indI-
rec,ly would have been posted on prevailing
prices and would have governed himself accord
ingly
However, II is evident that some one con-
nected with the commission did know that the
prices offered were rdculousiy low. for all
bids we-s rejected. on a later date at an In
formal meeting, one firm raised Its, bid TO w.
600 premium. But this was stlll absurdly be-
low the market, fact that ought to have been
known. II 1t not; that would have been
known and respected had the commission been
acting for its own interest instead OF in the
interest OF the general public.
It was at this time. before n contract OF sale
had been effected, that an outsider offered the
commission premium OF $4,000 for the bonds;
a bid that was still below the market but sub
santlay greater than the next best bid. The
commission accepted the bid OF 1000 instead
of tho bid OF $4,000, thus deliberately giving
to some one for q that can only be
guessed at. the substantial sum OF S14500 Not
a great sum OF money things go these Jays
but a sum worthy of deep consideration.
The reason given by the mayor and his
scciates IL that the individual offering the
larger sum represents firm OF contractors that
the commission has declared should get nothing
further from the city.
The reason Ia puerl!e ard fails to be con-
vincing The administration after It's silly
threat which was childish in the extreme when
made had already given this firm public con-
tract. So much for that. Besides, neither the
public moneys Of the municipality, nor !ts pub
lie contracts are the personal belongings OF the
city officials to be used by them In rage or
spite on one hand, or to pay personal obgo-
tons with It on the other Aud again We touch
the difference between other peoples money
and our own:
Would either OF the gentlemen now serving
the public in the municipal building have given
away sl45OO OF their own money rather than
trade with some individual personally objec-
tionableY Those things are not done.
what the city officials are Obliged to do II
a,
who attempt to transact business with thom
precisely alike. There is no difference between
public work contractors and purchasers Of mu-
niclpal securities until the criminal courts Tx
such difference. An such are traders seeking
the best possible accommodations, It bohooyes
the representative ~ the city 20 deal with all
such with their eyes wide open. They are
traders. seeking the best they can get; the city
officials should also be traders seeking the best
shey can secure for the interest o' those who
have entrusted them with great authurltys
Perhaps there are those who can find a note
worthy difference between a contracting firm
sxtortiug from tho city bv public competitive
bid more than evou piece OF public work IS
worth. thus nddlhg unnoces5orily 20 the taxes
Of the citizen, ana public officials selling mu.
nicipal securities for vastly less than those Sc
,urities are worth ma thus adding to the taxes
,f the citizen, but 'or our por. we are unable
20 make any such distinction,
II the taxpayers OF the city wonder why an
Oklahoma City bidder should have beer
awarded the bond, under question for many
thousands OF dollars less than they would hav,
brought at the time on the open market, and
In seeking 20 piece together a satisfactory
answer arrive at the conclusion that somebod,
got theirs. who car blame them? such ia tn,
natural conclusion; such is tho only logical con
clusion.
Because ~ there are some firms ana indl
viduais with whom the city officials positivel,
refuse to deal on any terms, then II is unescap
able logic that there are soma firms and indi