Perth Amboy evening news., 1923-08-03
No BIDDERS for
| COUNTY BONDS
EreehoIders Receive no Offers
on $340, 900 Road and
$50,500 Bridge Bonds.

NEW BRUNSWICK, Aug. 1.-TWO
series of road improvement and
Bridge bonds for $340,0 900 and $780,
500 respectively offered by the
ty in the open market brought no
Proposals when bids were to be re-
eeived at the meeting of the Board
Of Freeholders at their session yes
terday afternoon. County Treasur-
er F. William Hilker informed the
freeholders that due advertisements
have been carried in the newspapers
and the New York financial institu-
tons have also been informed of the
bond offer but apparently indicated
no interest in the purchase of the
bonds.
Following a discussion a decision
was reached to offer the bonds at a
later date when the bond market
would be more favorable.
~ Superintendent Hitchcock of the
Jersey Central Traction Company ap-
peared before the board regarding
q franchise fee which is due the
county. County Solicitor Frederick
p. Richardson first explained to the
freeholders that some twenty years
8 IN agreement was made between
the county and the traction company
bearing a provision that a franchise
fee of $3.50 was tt be paid yearly to
the county Golfers. During that long
period, neither the trolley company
offered to pay the set fee nor had
the county demanded it. A total sun
Of some $4,000 was due to the coun-
ty, Attorney Richardson said.
Mr.. Hitchcock admitted that the
attorneys statement was correct but
Informed the board that an opinion
uroa fce1fad hxy fho Traction collation.
showing that the company is legally
liable to pay for the last six years
and therefore only a sum of $1,0S0
was due the county and this opinion
was corroborated by the County
Solicitor Richardson. Mr.. Hitchcock
However, explained that the COM
pany was not in a position to pay
this amount and made an offer of
$500 as a lump sum in full payment,
to which Attorney Richardson
Strongly protested.
In discussing the trolley COM
pany's affairs, Mr.. Hitchcock said
that the securities of the abandoned
company have been taken yer from
the investors at par and that a loss
over $4,000 900 by the investors had
to be accepted. He stated further
chat the traction company was not
tHcOAfC14I Jul lAdL IL was just W1lu-
ing up its business"
The superintendent also made an
application to the ~freeholders to
grant the company permissio nto re-
move the tracks and other equip
ment situated on county ground.
"A delegation from the Lawrence
Harbor Improvement Association,
beaded by Arthur Marsters, pleaded
Cor electric lights along streets sup
3rvised by the county. They point
ed out that the growth of the COM
munity demanded this Improvement.
2irector William s. Dey and other
embers of the board were heartily
"A favor of granting the petitioners
tequest and arranged to hold a spe-
cial meeting at Lawrence Harbor
pext Wednesday afternoon.
IA communication vas received
from the Borough of Richmond noti-
fying the Freeholders that a meet
Ing will be held next Wednesday in
New York in regard to the proposed
bridge spanning Tottenville and
Perth Amboy. Several freeholders
will attend the meeting.
A resolution by Direcor Dey directs
the Perth Amboy Water Work, Pub
He Service, and the Mayor of South
Amboy to make necessary water,
eve and gas connections in the vi
entity of the Hole-in-the-Wall where
Contractors are now at work improv- |
ing the road.