Salt Lake Telegram | 1929-11-11 | Page 2 | County Retires $7000 worth of Highway Bonds

COUNTY I norms norms' Stock Market Slump Reacts Reacts Reacts Re- Re Re Re- acts Favorably Toward Toward To- To y o i war ward d 5 S. S L L. L S It is ah an Ill ill- wind that thal blows no V no-V body good County H. H said Monday k Tho The stock market slump which resulted in thousands throughout throughout- the tho country suffering the tortures tortures' 8 of ot worry and heavy financial losses losses' Is 19 reacting to the be benefit cUt of ot Salt Lake Lalta county taxpayers S Holders of ot 1000 worth of ot county road bonds that otherwise would not be retired cUred for tor years have bei be be come hard pressed presse for cash 1141 Sullivan with the tho approval ot of the county county- has taken ad advantage ad ad- vantage of the situation resulting in a a- saving Having of or both interest- interest and premiums which would have been heen paid out of ot tho time publics public's J purse Some Sonic of ot the bonds just retired would not hav have matured until 1933 Int They rimey all bore hor Interest at l 5 6 per cent cent- and called calle for premiums premium of ot 7 and 8 S each They hey were were- b by the time payment of oC accrued Interest accrued interest t and nd premiums of only 3 each cacho RETIRED Th The most recent retirement 0 Ot bonds brings brIngs' the tho total an amount o nt o ot county bonds retired retied before mar ma ma-bs ma to about about- Mr Sullivan Saul Sulli- van an reported This ha has been done In the past three years whenever ri opportunities ties were vero pres presented In addition to the time extra retirements now and then the county ha has been retiring tho the issue ue of Qt HIS 1119 at the time rate rata of or per r year yeas on on regular retirement dates and will start next year ear retiring the the- Issues Issue at tho timo per year said r. r Sullivan f t Although le s t tangible at present a a. similar benefit from the market market Continued e on page 6 Jf o