Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1928-05-02
COUNTY made
HIGH RECORD
in BOND Sale
Premium of S21,15O on
Road Bonds Passes
Price Paid on Flood
Control Issue

A check-up on bond sales in Cam
eron county discloses that the sale
Tuesday Of the third million Of the
$4,000. 900 road bond issue was the
best ever made by the county ex-
ceeding that OF the flood control
bonds sold in 1926.
A premium Of S2l.150 was paid on
the 81. o 900 issue. Jonn Gregg,
president Of the Merchants National
bank OF Brownsville, being the sue
cessful bidder. The bonds draw IN
terest at the rate Of ) per cent.
A bid Of S22.l50 was presented by
c. A. Wheeler. REPRESENTING Caldwell
a. Co. Of Nashville. and Is. }. van
Ingan & co. Of New York, but rs his
bid carried a clause requiring the APP
proval OF a specified firm Of attor-
neys. it was declared irregular, the
court holding that II was more OF an
option than a bid.
Figured upon the basis OF the
premium paid By Mr.. Gregg the m
terest sale on the bonds will be .04s
as compared with .04s2 on the 1000
bonds.
Including the bid Of G. A. Wheeler,
ANIT DAQh OlltIINN premium"
ing $4,000 were received.
II informed the bond neuses last
week that the Cameron county road
bonds were worth a premium OF az
least $4,000. and that they would
have to offer more than that 10 get
them" Mr.. GregE said. = know me
valuations back Of those bonds ana
also know what the money derived
therefrom will accomplish. ] was de-
termined that they should not De
sold under a $4,000 premium.
Mr.. Gregg also offered a BID on
4 "a per cent bonds, which was con-
sidered almost equally as good as
the bid on the 5's. The decision 20
accent the bid on IS was reached
after two hours Of calculation by the
county auditor. clerk and various ac-
co~untants. all OF whom asserted there
was little difference between Mr..
GregR's two bids. and tina present
worth OF the funds was the only
factor 10 be considered in deciding
between the bids.
THE commissioners court is great
~ gratified over the success Of the
bond sale" Judge D. q. Dancy said.
THE widespread interest in Cam
eron county's bonds is indicated in
the number Of bids received and the
number Of representatives present.
More bids were received for the
Series &C" bonds than for any issue
ever offered by the county"
Following Is the list Of bidders on
the 5 per rent bonds and the prem
iums offered:
Reppy a Taylor. Oklahoma City,
5000; Braun. Bosworth & Co. and
W. l.. Slayton & Co. Toledo, Ohio,
s~s,sss.ss: q. Vi. McNear a Co., Chi
cago. $500: We'll. Roth 4 Co., Con-
necticut. S9.l91; Brown-Crummer &
Co, Dallas. S20,2S0; j. G. Mayer,
Cincinnati. and Thompson. Kent q
!, Grace, Chicago. Sl0.565; John Gregg.
Brownsville. S31,l50; q. Edgar Hon
mold. Oklahoma City. 20.4OO; Wal
ser, Woody a Heimerdinger. Chi
cago, A. RI. Bell & Co. Boehmer,
Reinhardt & Co.. Cincinnati, Ryan,
Sutherland & Co., Toledo, David
Robinson 4 C0.. Toledo. $500;
Province Savings Bank & Trust Co.
Cincinnati. George \. Simpson e. Co.
Dallas. Steifel. Nicholas & Co. 81.
Louis. Si3.l3o; Caldwell e. Co.. Nash
Vile. b. ]. Inean 4 Co., New York,
S22.l50.
The American First Trust Co. and
r. J. Edwards az Oklahoma City bid
only on the 4 81 and ( - per cent
bonds, offering 70 take the issue at
the latter figure on a commission
of $l9.s50.