The Monmouth inquirer. [volume] (Freehold, N.J.) 1865-1933, 1924-07-03
STATE AWARDS
ROAD CONTRACTS
Latest Action Brings Aggregate
of $4,000, 900 for Year, Ex-
elusive Of Bridges.
HIGHWAY BONDS AT PREMIUM
Best in Years for Issue at ava Per
Cent, is Opinion of officials-To-
tai Of s11,ooo,ooo Taken-Av-
erage Price of s1o1.5s.

Trenton. Contracts aggregating
$424,675, awarded by the State High
way Commission, brought the total al
lotment for road construction under
the 1924 program up to s4O00,O0O.
This involves approximately 70 miles
of highways. In addition, the commits
sion has awarded bridge contracts
approximating 100000, exclusive of
$1,00000O set aside toward the cost
of the new Amboy bridge spanning
the Raritan river.
The largest award made was 1884,
20S to the Newark Paving Company
for the construction Of three miles Of
concrete highway on Route from
Westfeld to the Lehigh Valley rail-
road in Union county.
Charles Kavanagh of Bayonne was
awarded the contract for widening
the White Horse pike from Berlin to
Hammonton, distance of IL miles,
for ST., 107 The contract for placing
sheet asphalt on four miles of Route
2 from Burlington to Bridgeboro was
awarded to the Union Paving Com
pany of Philadelphia for $63,360.
Company to Make Repayment
Upon recommendation of Major
William G.. Sloan, state highway en-
gineer, the commission ratified an
agreement with the Public Service
Railway Company for the improve
ment of Washington avenue, Belle
vile The state will do the grading
preparatory to laying tracks in the
center of the avenue and do the paw
ing, including the concrete base. The
railway company win furnish and lay
rails and ballast, contributing $4,000
in lieu of maintaining a macadam
pavement between the tracks. The.
job will be temporarily financed by
the state, repayment to be made by
the company within three years.
A resolution was adopted under
which the state will bear half the ex-
pense, not exceeding $165,00O, of con-
structing the Sussex-Port Jervis road
in Sussex county.
The C. H. Winans Company of Eliz-
abeth was authorized to sublet to the
Public Service Railway Company the
trolley track work made necessary in
connection with the improvement of
Lincoln avenue, Plainfield
Funds Given to MiddIesex
Middlesex county was granted
balance of $4,000 remaining to its
credit in the 1923 account for high
way repairs under the motor vehicle
fund allotment. The acquisition of
property required in connection with
the proposed Morgan cutoff on Route
4 was referred to Commissioner Per
cy H Stewart for investigation.
The commission considered sug-
gestion of the federal government
that an additional coat of paint be
given the steel work on the new Am
boy bridge, the estimated cost of
which is 1920. The commission de-
ferred action.
Commissioner Abraham Jelin sub
mitted report of the hearing he con-
Quoted at Scmeryille relative to the
underpass on the Lehigh Valley rail
road at South Somerville. Action was
deferred. The question at issue is
whether the underpass shall be con-
structed en- the straight line followed
by the present road or at a six degree
curve, which would result in saving
of about $4,000.
Plans and specifications for bridge
on Route at Pompton River were APP
proved and bids will be asked. Ap-
prevail was given an award of con-
tracts by Essex county for materials
for repairing and resurfacing roads in
the county ana for the construction
n inv in
SAINT avenue, Irvington.
High Bond Premiums
Aggregate premiums of S16G,894.70
will be received by New Jersey from
the late sale of s11,000,00O of state
bonds. This makes the average price
S1015S In the opinion of the issuing
authorities the prices were the best
obtained in years for 4A per cent
bonds.
The premiums are made of $751;
84S.4O for S6.000,000 Of highway ex-
tension bonds, commonly known as
bridge and tunnel bonds; 7,456. 20
for $3,000,000 Of state highway bonds
to be used in road construction, and
$33,5901O for $2G0O,O00 of highway
bonds to be used for construction of
bridges.
The purchasers of the highway ex-
tension bonds, oversubscribed three
times, included SO New Jersey banks
and Lehman Brothers, New York
brokers, who were assigned $2.I16,00O
of the bonds, this being the largest
individual lot disposed of. The price
offered by Lehman Brothers was
S1O1.O9, this being equivalent to
Ala per GEN. yield on the investment
The $S.OOO,e0O of road construction
bonds were bought in by 80 New Jer-
Sey banks, the price being equivalent
to yield Of All per cent. Thirteen
New Jersey banks and trust compa-
mics were the purchasers Of the ST.
090,000 of highway bridge bonds, on
which the yield would be 4.O9 per