Show ALE OF 1 THE CITY BOND I As Predicted They Brought More Than Par IT WAS A CLOSE FIGHT A DARK HORSE CARRIED OFF THE PRIZE I The Entire Issue Ordered Sold to Thurman < Co of Chicago Conditioned Con-ditioned That the Finn Deposits a Certified Cheek for 25000 The f2OOOle Bids Received I The 500000 municipal general improvement im-provement bond issue has been conditionally condi-tionally sold and as predicted by The Herald would be the case the paper went for more than par the exact figures fig-ures being par and a premium ot 8000 with accrued interest I was a surprise to the other bondmen an < j as is usually the case in such surprises sur-prises the successful house was a dark horse being Thurman Co or Chicago a new house to Utah investments invest-ments As was expected would be the case it was a close fight notwithstanding the fact that there were two or three bids so far out of sight in the 90s that the committee would not have considered I consid-ered them had no others been offered The mayor and the members of the finance committee were unanimous in I the opinion that the bonds should bring par or over and any bid under 100 per cent would not have received attention Of course there was a ring or combine there always is in such cases and two of the heaviest dealers in Utah securities both of which have handled great blocks of local bonds had received private tips and failed to put in bids although represented by close buyers In order to give two of the buyers an opportunity of communicating commu-nicating with their houses an adjournment adjourn-ment was taken from 1 oclock to 4 oclock and by so doing the city secured se-cured three additional bids although one of the other bidders dropped out in the interval There seemed to be some difference of opinion as to the number of bonds which should roe sold Mr Clawson holding that the sale ofi 200 would be sufficient for tha present That gentleman favored the acceptance accept-ance of the bid of 101 per cent received re-ceived for 200000 of the issuo but he received no support from the other members of the committee and the entire issue was ordered sold Messrs Thurman Co were given until noon today to put up a certified check for 25000 as a forfeit and their representative says he will have the paper on hand by that time Should i he fall down on the deal then the other high bids will be considered although al-though it is very possible that none of the others will be accepted for the reason that they are all below par The bondmen will do some tall rustling rus-tling before the time for the meeting this afternoon and should the opportunity oppor-tunity offer may make changes in their bids favorable to the citys interests in-terests The outcome of the contest was a surpris to nearly all of them and the boys who fell below 96 pen cent looked much the way they felt ather sheepish I was 115 oclock when the announcement an-nouncement was made that all the members of the committee were present pres-ent except Mr Cheesman and the SUIT I I ge mon was made that the work be proceeded with Without further ael < iy I the mayor called the committee to order and George F Penhale of E H Rollins Sons asked that a recess be taken until 3 oclock a s there was some doubt in his mind regarding the contenlts of a cipher message just received re-ceived A second bondman requested a continuance and after some little discussion contnuance cussion it was decided to accomodate the gentlemen and a recess was taken until 4 oclock unt There were seven bids on the table and after the continuance they were delivered to their owners When the mayor called the committee commit-tee to order shortly after 4 oclock there were present Councilmen Mc Cornick Clawson Cheesman OMeara I Lynn and Bacfte and Treasurer Duke Ten bids were upon the table and without any unnecessary delay they I were opened making the following i showings J B Thurman Co of Chicago offered for the whole issue par and a ofered premium of SSOOO and accrued interest I on deferred payments the first payment pay-ment of 200000 to be made on or before be-fore May 25 and 100000 every fifteen days thereafter until all the bonds are taken up bonds to be delivered free in Chicago Xew York and Boston E H Rollins Sons par less a ccm mission of 1516 per cent 300000 delivered ered in fifteen days and 100000 each on or before thirty days thereafter J E Bamberger 96 per cent jcr 100000 of the bonds Wells Fargo Co par less a commission com-mission of per cent S200010 on 1 before May 25 and 100000 every twenty days thereafter interest on deferred payments to go to the city Theis Barrall of bpokane Wasn par less a commission of 41100 per cent DeVan Ruttledge of Los Angeles offered par and acfrtted interest and 1 per cent premium for 5JOOOOO or the issue I German American Investment company I com-pany of 52 Wall Street New York offered par less it per cent for the I whole issue delv ties and payments to be agreed upon The Lampreck Bros company of Cleveland Ohio per Elmer H Bits worth agent par less a commission of 6 per cent for tne whole issue bonds to be delivered in New York 300190 on June deleled and c200000 eah thirty days thereafter George A Ferrald Co oftered 95 Gorge the whole issue to be delivered deliv-ered and paid for as follows S200000 on or before June 1 1831 300000 on or before July 1 1894 300il0 on or before July 31 1894 BonJs to be delivered t some national bank in New York city or Boston at their option Farson Leach t Co for the whole issue offered par less a commission of 25000 Penhale of Rollins Sons jumped to his feet when the last bid was opened and declared that of the three highest bidders Wells Fargo Co E H Rollins Sons and J B Thurman Co but two the first named were responsible bidders The house of Thurman Co he said would not neither could it put up a forfeit of 5 per cent if required by the committee Bradstreets rating of the house was not of the best asserted Penhale Mayor Baskin shut the gentleman off with the statement that the committee com-mittee would investigate the matter of responsibility and needed no coaching Frank Knox representing Thurman Co was indignant at the attack made by Penhale and said his house was responsible and would make good its promises The committee then went into executive execu-tive session the bondsmen being excused ex-cused and for half an hour considered the bids in hand Mr Clawson favored fa-vored the acceptance of the bid for the 200000 and said that amount would tide the city over for the present He further said his position was that not more than 200 of the bonds should be sold at this time None of the other members of the committee took the same view however and a motion of sale of the 200 bonds was defeated The bid of Tnurman Co was plainly the highest by over 8000 and Mr Knox was called Into consultation and explained his bid The consultation lasted until 530 oclock when upon motion of Mr McCornick all the bids but that of Thurman Co were re 1 jected and that of Thurman Co accepted prqvided by 12 ocldck today they put up a a forfeit a certified check for 25000i An adjournment was oclock then taken until this afternoon at 4 |