Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1928-05-02
COUNTYNADE
HIGH RECORD
IN BOND
Premium of s21Sl5O on
Road Bonds RAISES
Price Paid on Rood
Control Issue \

A check-up on bond sales in IAN
error county diseloses that the (sale
Tuesday Of the third million Of the
$4,000. 900 road fond issue was Pine
best ever made by the county, lfx-
ceeding that Of the flood oontfol
bonds sold in 1876. ..
A premium Of S2l,15O was pElo ION
the $1,000, 900 issue. Jonn gregg,
president Of the Merchants NaEiPnal
bank Of Brownsville, being the sue
cessful bidder. The bonds draw in
terest at the rate Of 5 per cent.
A bid of S22, $50 was presented BY
G. A. Wheeler. representing Caldw ell
a. Co. Of Nashville. and b. j. van
lngan e. Co. Of New York, but as ans
bid carried a clause recurring the ap-
proval Of a specified firm OF att1r-
neys. il was declared irregular, TAe
court holding tat it was more OF an
option than a bid.
Figured upon the basis Of the
premium paid BY Mr.. Gregg the in
terest sale on the bonds will be cas-
as compared with .04s2 on the flood
bonds.
Including the bid Of c. A. Wheeler r,
four bids offering premiums exceed
ing $4,000 were received.
II informed the bond Houses last
week that the Cameron county road
bonds were worth a premium OF at
least 10000. and that they WOULD
have TO offer more than that to get
them Mr.. Gregg said. q know the
valuations back Of those bonds and
also know what the money derived
therefrom will accomplish. / was de-
termined that they should not be
sold under a $4,000 premium"
Sir. Gregg also offered a bid ION
4 Sd per cent bonds. which was can
sidered almost equally as good las
the bid on TIE SIS. The decision Ito
accent the bid on SIS was reached
after two hours OF calculation by fhe
county auditor. clerk and various ac-
countants. all Of whom asserted there
was little difference between Mr..
Gregg's two bids. and that present
worth of the funds was the lonly
factor 10 be considered in deciEing
between the bids.
The commissioners court is Erkat-
~ gratified over the success 81 the
bond sale" Judge o. G. Dancy Sid.
The widespread interest in Chm
eron county's bonds is indicated in
the number az bids received and the
number of representatives present.
More bids we're received for the
Series &C" bonos than for any issue
ever Offered by the county"
Following is the list of bidders on
the 5 per cent bonds and the prem
iums offered;
Reppy & Taylor. Oklahoma City.
$4,000; Braun, Bosworth & Co. and
W. L. Slayton g. Co.. Toledo, Ohio,
s~s,Sss.ss: c. W. MeNear a. Co., Chi
cago, $500: Well. Roth Il Co, Con-
necticut. $9,i9l; Brown-Crummer &
Co, Dallas, S20,2S0; J. c. Mayer,
Cincinnati, and Thompson, Kent &
6FEce. Chicago, $10.5G5; John Gregg,
Brownsville. $21,150; c. Edgar Hon
mold. Oklahoma City. $4,000; Wal
ser. Woody g. Heimerdinger, Chi
cago, A. T. Bell g. Co., Boehmer,
Reinhardt & Co. Cincinnati, Ryan,
Sutherland & Co, Toledo, David
Robinson & Co., Toledo, $500;
Province Savings Bank & Trust Coz
Cincinnati. George Il. Simpson & Co.
Dallas. Steifel. Nicholas a. CO.. St
Louis. s13.l30; Caldwell & Co., Nash
Vile. b. J. Ingan & Co, New York.
$22.f50.
The American First Trust CO. and
r. j. Edwards Of Oklahoma City bid
only on the I Sd and 4 1-2 per cent
bonds, offering TO take the issue at
the latter figure on a commission
of Sl9.S50.