Perth Amboy evening news., 1923-03-30
COUNTY BONDS
ORDERED SOLD
Many Bidders for Issues
Keen Competition -Raritan
Trust Co. Protest Heard

NEW BRUNSWICK, March s0.---
-Four issues Of county bonds were
sold by the Board OF Freeholders
yesterday at premium OF s4,146.S9
lbove the par value. Keen compe-
tition was witnessed among the rep
resentatives of banks and bond
houses. The bonds carry four and
one half per cent. interest.
The issues will provide. $4,000
or the improvements OF roads, S45,-
900 for general improveme nts, $42s-
100 for the building and repair OF
bridges and $4,000 for tie purchase
Of a site in Perth Amboy on which
= new county vocational school is to
be erected.
Clarke, Williams & Company Of
New York were the successful bid
ders on the school bonds, they hay-
ng submitted a figure OF $10,080.
The remaining Issues went to Van
lerhoff & Robinson of New York on
heir conditional bid of the three
ssues or none, which offered high
premium for the lot.
The successful bid of that COM
pany offered s242.425.s2 for 2S9
road bonds of $1,000 denomination,
s45,056.1S for the general bonds and
s42,5s4.79 for the bridge bonds, all
Of which were awarded to them.
The proposal as rendered by that
company for any one of the issues
vas s242,105 for road bonds, $45,-
901 for general bonds and $4,000
Tor the bridge bonds.
A protest against the award was
made by the Raritan Trust Com
pany of Perth Anboy, which submit
led bids for Lamport, Barker and
Jennings of New York, on the
yround that the proceedings were
not in compliance with the spirit
Intended in the Pierson acts, as the
bonds were sold in lot and not as in
dividual issues.
The figures tabuiated by County
Treasurer r. William Hilker showed
that a profit Of about $1,000 was
gained by the county in selling as
they did, which was on the legal op-
inion over the phone from Caldwell
& Raymond, New York bond attor-
neys. The objection was referred to
County Solicitor Frederick F. Rich
ardson, though resolutions awarding
the bonds to the high bidder were
adopted by the freeholders.
The complete list of bids tender
ed for the series of four and one half
per cent bonds, all in denominations
Of $1,000 is as follows:
South Amboy Trust Company, 24O
road bonds S242,840.20, forty-five
general bonds s45,544.50. forty-two
bridge bonds s42,50S.20, and ten
school bonds $40. .026.40.
Perth Amboy Trust Company 241
road bonds $242,859, forty-flye gen.
eral bonds S45, 600, forty-swo bridge
bonds $42, 329, and ten school bonds
$1,000
Peoples Nationaf Baak. New
Brunsyfek. 240 road bonds s242,-
444.M, forty-flve general bonds S45,~
&ss55, forty-two bridge bonds $42,-
555.55, and ten school bonds $10,-
022.22.
Ralph W. voorhees, & Company,
New York, forty-five general bonds
s45,244, and forty-two bridge bonds
$42,160.
Clarke, Williams & Company, New
York, 240 road bonds S242,165, forty
five general bonds $45, ,091, and forty
two bridge bonds s42,5S0. This bid
der was the highest on the school
bonds, having offered a premium of
$50. s...--
P. F. cusic. New York, 239 road
bonds $242, AGO, forty-hVe general
bonds $4,000. and forty-two bridge
bonds $4,000.
The bids submitted by the Raritan
Trust Company for Lamport, Barker
g. Jennings of New York, who op
posed the awards, were 240 road
bonds s242.664. forty-five general
bonds s45,01S, forty-two bridge
bonds s42, $40, and ten school bonds
s1O,035.
Graham, Parsons & Company.
Trenton, 240 road bonds S242,241,
forty-fve general bonds s45,010,
forty-two bridge bonds $42, ,467, and
ten school bonds S10,011.
Parsons, Son & Company, New
York, 241 road bonds s242.550.
forty-five general bonds 45,067.50,
forty-two bridge bonds S42, ,104.30,
and ten school bonds s10,005.
The National City Company Of
New York submitted figure on the
road bonds only. their proposal be-
ing for 240 bonds at $242,493.60.