| Show BIDS BIDS- SUBMITTED fOR EMERGENCY 1 5 S. S L SECURITIES Offer of Ben S. S Rives Riv-es Appears Appears Appears Ap Ap- Ap- Ap pears to Be Most AdVantageous Ad Ad- Advantageous v T Tabulated abul ted Quoting an Interest rate rite of of- per per cent par and premium of ot 10 I a syndicate of eastern a and d western financial institutions represented by Ben S. S Rives fives of Sat Lake City appeared appeared appeared ap ap- ap- ap to have ha the best bid opened b by the city commission Wednesday morning fin O on the the city's proposed lax anticipation not notes s' s to finance the c city y until taxes c come m in Decem December ber This Is said to tp bethe Ui lowest In Interest Interest Interest In In- terest rate te the c city cily y has had qu quoted ted tedOn on tax notes in years and andall all of the theten theten theten ten sets of bids submitted contained better conditions than the city ba has been able to obtain in a long time city officials When the city borrowed at the first of the year it was corn com to pay 4 25 per per cent Inter interest t tso so that the bid received yesterday from the concerns represented by Mr lr Rives is more than one-half one 1 per cent less Commissioner T T. T T T. Burton who advocated deferring the borrowing of the second until this time expressed himself as highly pleased In seeing his prediction pre pre- diction made at at the beginning of the year come coma true He maintained at that time that a better rate of interest would In all probability be obtained by deferring deterring the second half of the loan until the middle oft of t the year 1 The bid submitted through Mr Rives which is apparently the best bestone bestone bestOne one from the city's standpoint was made by Barr Brothers New York the First National Bank of New NewYork NewYork York the International Trust company company com corn pany of or Denver and the Anglo- Anglo London Paris company of of San Francisco The bid of this combination however however how hOw- ever beat that submitted by Walker Walk Walk- er Brothers Bankers of Salt Lake City by b only 16 1616 16 It was figured by the treasurer the bid of the local bank being per cent cent- interest cent Interest par rind nd a premium of t r Eastman Dillon DUlon Co of NewYork New New- NewYork York bid per cent interest and The Th Jenkins Ashton company of Salt Lake and associates bid per cent lr Interest terest and a discount of on one prop proposition tion and 4 per percent percent cent nt Interest and par and a premium premium prem prem- ium lum of on a second tion The Bankers' Bankers Trust frust company of New York and the Palmer Bond and Mortgage ge company of Salt Lake City bid 3 75 per cent Interest with par and a premium of 11 The Old Colony company of or Boston Boston Boston Bos Bos- ton and the E E. E L L. Burton company of ot Salt Lake bid per cent in interest In- In n terest par and 37 37 premium The Central Trust company of Salt Lake City and Eldredge At AtCo Co of New York bid 4 per cent par and 10 premium S S. N N. Bond Co o ot New York bid Lid 3 85 per cent interest par and 37 premium The Irving Bank Columbia Trust company and T. T P. P Dixon of or New NewYork NewYork NewYork York bid 3 83 per cent Interest par paran an and 10 premium The Equitable Trust company and James A A Hogle company of or Lake City bid 3 85 per cent Interest and par On motion of ot Commissioner Herman Herman Herman Her Her- man II 11 Gre Green n the bids were re referred referred re- re erred to the city treasurer for tab for tabulation tab tab- and report to a special meeting of of- the commission at at 11 o'clock Friday z morning orning |
