| Show BOND MONEY PAID OVER jones co finally IT meet oat their obligation INSIDE HISTORY OF THE DEAL I 1 bidders try lo 10 10 evade their agreement the tha bond market not meeting expectations send it saucy telegram to the governor inquiring about public sentiment on the silver question informed that it cuts no figure in the transaction trouble over hammonds ammonds 31 title yesterday afternoon gov wells re a telegram from the united states montage Moil gage alint company 0 of new york tork the fiscal agent of oc utah an cing that judward edward C jones co the pm chasers of 0 tile the D drw W state bonds had bad yesterday over the re quiren amount and taken the bonds thereby hangs a lai jones t co till thair besenta five purchased luicha sed ot of utah I 1 per cent twenty year gold bonda in open competition on june agreeing to take the bonds bondi july ast 1st and pay a premium of sn or a 1 total ot of after the sale ahon politics began to agitate tho the country and the lite financial question loomed up the bond market tank a drop and tile supposition Is that jones co abo most hiob ably bought th the bonds with the intention of 0 reselling resell lne them to investors in euch cuch securities found it difficult having offered such euch a large laree premium to dispose or of ilic ibe bonds to advantage at any rate they soon began to show bigno ot of anxiety soon alter after the sale they sent bent here tor for copies ot of all the laws bearing upon bond issues to satisfy themselves as to the of 0 the issue notwithstanding the fact that the sale HA made under the condition that blades musi MUSE be satisfied of 01 thu atu legal status ot of the bonds before bidding AN impertinent INQUIRY the information asked however was promptly furni furnisher bell and nothing more was heard from jones co until about it a week before the first ot of july then gov wells was startled by the receipt ot of the follow ing telegram from new york do the executive and legislative departments part ments of your state and rani the genet genci ally ge the sentiments on tho the talver ilver t question expressed by senator cannon recently at st louis jf if jones co hall hal telegraphed asking what the governor Gov einor had for breakfast that day lie would mould scarcely have been more however he called n council of ohp th loan and laid the matter before thern them A reply was formulated find and bont bent in about the hie following follo ing tot ins jt it does docs not matter or not tile the hoople iri lr dore dortie thome thoe sentiments the bonds ate aie payable in gold the state of oc utah never has repudiated an obligation a ami till net neier er u hilll ili ABSURD OBJECTION tills this and up to yesterday tho telegrams flew thick and fl on oil the th bond deal jones co when ullen the bonds leached I 1 bache d new york discovered what they claimed was a te rivus detect in the exe execution or of the paper tiie 11 ie engraver graver tied iad placed below till the line for file F igna ture tore or of the ecret aty ot at state slate tile the 11 rd s secretary of oc the state 0 of utah the law makes the official designation of 0 that allicer the secretary or of state of the stat of at alah and the of the alie voids 0 at o state worried jivu hammond hamilton to such mich an ail extent that thai tic fie sat up un ill all night to bilte them in by on beety one of tho the bonds jones co insisted that this was a haw flaw and NN wanted anted the bunds bonds engraved over again at the states expense ep ense the engraver in new nem yoi boik k having agreed to duplicate the issue for a considerable reduction fl aiom am KM which lb tell was the cost cast of 0 the vil engraving gravIng the utah loan commissioners submitted the matter to the acting attorney alloi ney general arid and he decided that jones cos objection was uati a mere inere quibble and that tile the execution of the bonds had been cily legal this satisfied the board that jones it co wire were sp sparr Ewring ins tor for lime and they promptly notified tile the bond buyers that they would not aree to re rc engrave the bonds adding a doc dec la cration that the execution mould be found perfectly legal negotiations jones co however on thell their and the lonn loan blaid becoming alarmed lest lel they should default telegraphed parson farson leach i co the next hig lii ghet ht bidders offering then them the bonds their bid was par and a pren premium clum of they responded promptly LIY that they would take the bonds at these thes figures le ures providing the state stale would allow them tile the mogul forfeit money put up by jones co tito the loan ivan board could not figure out what right farson leach co had to jones cos forfeit so they did not close avith the fornier Ini instead tead they wired to Klel bolt co or of cleveland the third highest lidders offering offer lne them the bonds bohlds the latter replied that they could make no proposition until after next saturday which probably meant after the democratic convention jones co e el dently lieulo or 0 tile the states with other bidder tor for they telegraphed the board monday offering to take lh the bonds at their lid bid pro iding ding the state would consent to authorize the ic ot of the issue at it their expense should they decide t that hat tuch euch re engraving was tho the board saw that the acceptance of this proposition m would involve no celd ing on the part of 0 the state arid and assented to it by wire MONEY PAID OVER the result wag utis that yc yesterday jones jonea co took the bonds and pal paid I 1 I 1 to 0 the states representative in new york the guill of being tile the balance dun duj anil and the accrued interest from july to july ath the loan commission feel well sat satisfied is over the result they have secured the list alist 1 4 per cent money eve ever r obtained in hi utah hilali and gold eold the bonds at a arc premium gium that virtually makes the rate ol of interest per cent for tile the life of 0 the bonds they have also demonstrated that utah has financial talent til ill its executive department abundantly able to play in the samo same game with the bond sharps of wall street and then not give their opponents any advantage tho the strongest hold they edd on jones jonea co wast was the certified check deposited as a forfeit and the joke of 0 the t transaction r ans action Is that the state had bad title this 0 heck check cashed on july 1st ast weijo jones jonea co were trying to force it to their luicir terms alls well mell that ends well the money Is in elie treasury and the holders of 0 territorial mar warrants rants will soon boon be made happy by being permitted to exchange their scrip tor for cash carh |
