The Lubbock avalanche. (Lubbock, Tex.) 1909-1922, 1922-05-02
SCHOOL BONDS SOLD SATURDAY
BY THE BOARD OF TRUSTEES
EXCELLENT FIGURES REACHED BY BIDDERS BEST RE-
CORDED IN STATE-BIDDINC BRISK
SUPPLEMENTARY co. HIGHEST BIDDERS
Building Operations Begin Immediately and Modern High
School Building and Three Ward Schools VIII Be Built
Location Not Yet Decided Upon

At recent election held for the
purpose Of voting school bonds for
necessary improvements in our pres
ent buildings, and the erection Of a
number Of other buildings. the peo-
pie Of Lubbock and vicinity showed
a determination that they are going
10 keep TO the front in all things con
cerned with the bettermcnt Of our
school system, which at pre- rnt Is Of
a high standard Of efficiency, but
we were beginning TO be overcrowd-
ed in the buildings, and were unable
to take care Of even the ones on
hand, and new pupils were coming
in every day 20 such an extent that
conditions were becoming deplorable
An election was ordered, held, and
passed by majority Of nearly eight
to one calling for the issuance Of
bonds drawing 6 per cent interest,
extending over term Of forty years.
These bonds were recently placed IN
the market, and bids have been re-
ceived from all parts Of the state,
and such are the conditions existing
in the Bond Market now that bids
coming in were very gratifying TO
the committee in charge. A year
ago the companies would not bid on
6 per cent bonds unless a deduction
Of 10 per cent or more was made
from the principle. But this year
the markets have opened up to such
an extent that il is almost a squabble
70 see who is going to get them at
the best figure above par, and the
bids are usually accompanied by a
bonus offer.
The local bonds were issued in 6
per cent denominations, but by a
deal closed Saturday with the Suth-
erlin-Barry Co., Of New Orleans, the
bonds were turned to them on par
value, drawing 5 Ia per cent, but
brought a bonus of S2250; also al
lowing attorneys fees, and the print
ing of the bonds In other words
the bonds were sold on a net par
basis. with $225O bonus.
As Ear as is known this is the best
secured by anyone In the state COW
ering school bonds, and as usual.
Lubbock has broken another state
record. About fifteen different firms
had representatives here bidding in
this sale. and all seemed very anxious
90 secure them ard were willing TO
pay the top and go the limit.
Il is expected that IN less than
thirty days active operations will
begin on the construction Of the
buildings Three nice. modern Ward
buildings win be erected 10 cost be-
tween $4,000 and $4,000 and the
rest will be put into an up-to-date
high school. equipped with all modern
fixtures. II seems % be the general
opinion that the nigh school building
viii be built in units. as is done in
an the larger, fast growing cities.
By this method, adequate room can
be built now sufficient for the pres
ent, and AT any time in the future adj
ditions can be made 20 tho building
without tearing down or detracting
from the looks Of the old section.
Each unit will be complete within
itself
The location for the new buildings
has not yet been decided upon, but
a committee composed OF three MEM
hers from the Board Of Trustees as
sisted by two other townsmen not
connected with the Board are work.
ing on the location, and in the very
near future expect 70 have something
definite 10 say on this subject. Sew
craf locations are under considera-
tion, but the place most suitable and
accessible 90 the larger majority Of
the people viii probably be selected.
Many things have TO be considered
by committee of this kind. and they
are deserving Of the good viii and
Of all, whether or not
the location you have decided upon
for the building is chosen by them
All together we go for great
toWu