Ogden Daily Standard | 1915-04-03 | Page 12 | State Bonds Are Sold at Premium

STATE BONOS ARE ' SOLD AT PREMIUM Salt Lake, April ?, The Palmer Bond & Mortgage company. Salt Lake City's new and only bond house, is the successful bidder on the $650,000 issue is-sue of Utah state capltol bonds. The state board of loan commissioners made the award and the contract was signed yesterday. The local concern won against a field of nine competitors, including houses in Boston, New York, Cincin nati and Chicago. The price paid was the highest which any of the capltol bonds have brought. For twenty-year bonds, bearing 4 4 per cent interest the Palmer Bond & Mortgage company com-pany pays a promium of over $15,000 above the par value. The next highest bid was that of C. W. McNear & Co of Chicago, Redman & Co. and Park-in8on Park-in8on & Burr of New York, who offered of-fered a premium of $14,209. The successful bidder also agreed to pay for the printing of the bonds ready for signature, and this work will be done in Salt Lake City, the order for engraving and printing hav I ing already been placed. With the exception of the sale ol $775,000 s.-iit iike City refunding ' bonds in March or last ear, this It the largest bond sale which has taken place in the Intermountain region in several years and It is one of thr largest recent sales In the United States. Payment for the entire amount will be made during the month, just as soon as a favorable opinion on the i legality of the issue can be obtained I from the firm of New York attorney? I to whom all the papers and proceed- lugs are being submitted Tis will j place the capltol commission in possession pos-session of the funds for (he completi on j of the building and the improvement j of the grounds.