0
to
F
HIS FATE TODAY
Special Prosecutor Spencer
Asks for Verdict of Mur
der in First Degree.
PRISONER SEEMS UNMOVED
Both Side R-t Caw and Argu
ment Are Bcjtun Spencer Sums
l"p Case Convincingly, but Hoi
comb Abuoes ProceciUion.
James A. Finch's life will be placed In
the balance today. Kxcept for an unex
pected delay, the murderer-lawyer should
know his fate before midnljrht.
Quick action Is expected from the 12
Jurors, for dnrlnjf the closim? scenes of
the trial their attitude lias wen all but
expressed Ir. words. The state's appeal
that the foul murderer of Fisher be sent
forthwith to the callows brought every
man of the Jury unrtetit In his seat, intent
on everv word, his face set and de
termined. And when the first Ions appeal
w-as made in Finch's behalf, the Jurors
relaxed their Interest, lolling back unre
sponsive In their chairs. "
t'onrt Rebukes Defence.
Snarling. bltlnK. shouting, casting In
nuendo and abuse on the state. Lawyer
Holcomb. of Finch's counsel, argued for
the murderer In sue. a way as to bring
upon himself the sharp r-buke of the
court. And It Is believed that he antago
nized the Jury with hia manner, for
every man in the Jury box carefully
avoided his eyes and showed marked un
responsiveness to his summing up of the
case. Several tir es Holcomb had to be
called to order by Judge Bronaugh.
Only the final arguments and the in
structions of the court remain before the
case goc to the Jury. The last bit of
evidence was presented yesterday, the
last point of law raided, and the opening
arguments for state and defence were dis
pensed with. This morning the last plea
that will be made for Finch Is to be pre
sented by his lawyers; and the state will
make its final demand on behalf of the
public for the life of the assassin of
Kalph Fisher.
Finch's Mother Weeps. j
Finch eat unmoved while the app?als
for his life and against It were presented.
But a few feet behind him his little old
mother, worn, sad-faced, swollen-eyed,
eat staring open-mouthed In mute horror
at the horrible denunciation of her son:
at the clamor for his life. Not once did
her eyes leave the prosecuting officer as
he set out the reasons why her eon should
be taken from her. Not until the charge
was finished did her eyes fall, and then
she wept silently. ,
First-degree murder, punishable only by
death on the gallows! That is the ver
dict the state insists upon and fully ex
pects to receive-from the jury.
"This is first-degree murder or noth
ing." announced the prosecution in its
opening argument.
Acquittal is the verdict Finch and his
lawyers say they expect, but they seem
to be alone in their expectations.
Finch's Story Is Disproved.
By the course of rebuttal testimony
Finch's wild etory of being attacked by
Fisher was effectively stripped of all sem
blance of truth and held up before the
jury as a base fabrication, lacking even
In ingenuity. This end was achieved ef
fectively and so as to leave no doubt.
The last suggestion that Finch might
be telling the truth regarding an assault
on him by Fisher disappeared when evi
dence was presented to chow that the
victim's notarial seal was found locked
in his desk after the murder. This dis
closure was made by Fieher's law part
ner. G. Everett Baker. In searching the
office for anonymous letters threatening
Fisher's life, he chanced to come upon
the seal locked in a third drawer of Fish
er's desk.
Even the affidavit of Finch's sick wife
proved disastrous rather than helpful to
the defense. For. while she said in her
deposition that she told her husband to
bring home a revolver, the very day of
the murder, yet she made the fatal ad
mission on cross-examination that she
already possessed one revolver and had
owned It a considerable time before the
murder.
Miss Burkbart Not Impeached.
: And the efforts to impeach Miss Verna
Burkhart. Fisher's stenographer, who saw
the assassination, failed utterly. Know
ing that thi young woman's account of
the tragerdy left Finch's yarn altogeth
er untenable, the murderer's lawyers
questioned her vigorously as to her pre
vious testimony at the Coroner's inquest.
But she was firm In her reiterations and
the defense lost in Its Intended coup.
Then came the last straw, when Dep
uty Sheriff Bcatty related Finch's first
lory of the murder as told to him by
the prisoner a few hours after the arrest.
Finch then said he had been assaulted
with a revolver and had fired even while
looking into the muzzle of Fisher's
weapon. Such a story, of course, could
not stand, and the necessity for a new
variety of fiction was plain.
As to the bump on Finch's head, a
number of persons who had occasion to
observe him closely after his arrest said
they saw no marks of violence upon him
or any evidence on his part that he had
been struck.
Crowds Clamor for Entrance.
Several hundred men and women, a
veritable mob. fought for admission to
the courtroom at the opening of the
session. 'When court reconvened after
the noon recess the services of five
Deputy Sheriffs were required to hold the
crowd In check. Just one and a half
minutes suffli-ed to fill fhe spacious court
room once the doors were opened. No less
than ") people were turned away and
many of these hung around the corridors
hoping for a chance to get In.
Finch was busier than ever with the
details of his case during the closing
moments. He has become more or less
Irritable, possibly realising the serious
plight of the defense. nd Is frequently
seen snapping angrily at one or other of
his defenders. He watched every witness
and was busy with notes during the pre
sentation of the, state's opening argu
ment. The defense concluded Its case early in
the forenoon after presenting the deposi
tion of Mrs. Finch, cross-examining Miss
Burkhart and introducing some minor
testimony. The state got through ItB re
buttal early in the afternoon and pro
ceeded at once to argue.
Judge Bronaugh Testifies.
Judge Bronaugh. who is hearing the
case, was called by the defense as its
first witness of the day. He said that
Mrs. Finch was found to be in the con
'. : . i rii.H in her when tl hosrjital
In which slie is confined was visited for
the purpose of taking her deposition. This
INCH WILL
KNOW
deposition tu then read ana n revcaieu
TALENTED YOUNG WOMAN WEDS WELL-KNOWN
DRAMATIC
r
r
v
i
J
V
IISS MIXNIK M. BOOK BECOMES BRIDE OF WIIUAM M. RASMUS.
The riarriaee of Miss Minnie M. Bode, tho pretty and talented
voung el"u7lonl.t. poet and playwright of Portland, to William M
Ra"mJS? business manager of the Western Academy of Music was
ehrated at the home of the bride's parents. Mr. and Mrs. Frank
Bode of Id Fas Twelfth street. North, at G o'clock last night. The
fontracting parti, are both well known In local musical and lit
erarv clrcfe- and were showered with congratulations at the conclu
sion of th ceremony last night. Rev. Henry Rasmus, of Spokane
brother of the groom, officiated, and only the .mmediate relatives and
fiends of the contracting couple were present. Mr. Rasmus Is well
w known as a oramain: i"urt
tended the production of a number
i rtU a irumaim reaaer uu ,wv
her oath that she had asked her hus
band to buy her a revolver the very day
of the murder. But the revelation that
she had already possessed a weapon
brought out In cross-examination, tended
to discredit her direct testimony.
In the effort to impeach Miss Burkhart,
wnicn avaueu . - -
point made by them was that A Iss Burk
hart had tlrst ioio. ui ' ' " L"t
a revolver from a particular pocket
whereas, at the trial slm admitted not
knowing which pocket the weapon was
t i . txr the first wit-
Df'PUly ra.vj "
ness on rebuttal and he described Finch s
first story of the muruer.
. i, entered Fisher s office
and said, 'Hello. Ralph.' and that F:sher
at once reached in a ties, ju..
and pointed it over his shoulder, said
Beatty.
Seal Found in
. . nnniv Coroner, told of
searching the room after the murder and
of looking on Fisher's desk. But lie saw
no seal either on tne nuor ""--'
Kverett Baker followed this by explaining
that the seal was found in Fisher s desk.
. nmont of suDPressed ex-
cltement in the courtroom as this im
portant evidence was p. .r.
K .. .,...! -vi Rflker said he
found Fishers revolver far back under
a coil of heavy twine in an u..ur.
of Fisher's desk.
John Ped. a sketch artist, and County
Jailer Hunter, told of having observed
Finch closely arter tne muiuc. -failing
to see any evidence of an abra
sion, thus tending to verify the states
belief that Finch injured his own head
after being locked up in a cell.
,,. called In rebuttal
at the opening of the afternoon session.
She was questioned by the state In regard
to a conversation between C. H. Piggott
and Ralph F.sher the day before the
shooting. This dded nothing to the case
for the young woman had not heard much
of the conversation.
"The state rests." announced Special
Prosecutor A. C. Spencer, at 2:20 P. M.
In the camp or tne oeiensc
, i .hiBnorinir after which Iaw-
a U I l " U 1 1 H ' U " .!..'!- - ---r..
w i t, tr, announce that one or
)tr uviu iivow .w -
the counsel for defense wished to demon
strate that Fisher s Doay couiu i
iv.i heen lving nartly in a chair,
as described by the witnesses.
Lawyer Campbell stooa rcauy w .
fancv tumbling for the
edification and information of the jury.
But Judge Bronaugn aion i sm -sity
for this, and the defense, unable to
clutch at any other straws, then rested
its case.
Spencer Argues for State.
Mr. Spencer arose at once to argue for
the conviction of F'inch. He made an im
pressive statement of the case, declaim
ing against the murder in effective words.
The Jury gave him the closest attention
throughout.
Going over the testimony in detail, the
speaker emphasized strikingly the many
phases of the case which point to Finch
as a murderer without Justification, ex
cuse or mitigation. He took occasion to
pluck the defense to pieces, declaring that
some of the things pleaded by Finch were
a reflection on the intelligence of a Jury.
"The picture that Miss Burkhart gava
again of this hideous fiend as he crept
past her Is the true picture. With a
hypocritical "Hello, Ralph.' be skulked
across that little room and killed his un
fortunate victim, holding the revolver so
close as to burn the hair on his head.
And then ihls man. this cold-blooded,
hellish murderer, has the effrontery to
come here and tell you he was struck,
that he fired to save himself: and he
passes among you, gentlemen of the Jury,
and asks you to feel his head for a bump
that. If It existed, at all. must have been
bumped upon his head in the jail.
"I tell you this man Is a foul and red
handed murderer. He went to Ralph
Fisher's office with malice and murder
In his heart. N
Wants First Degree Verdict.
"If this is not a case of deliberate
murder, then It is not murder at all. It
Is either murder in the first degree or
else not murder at all. And why ehould
this man escape the full consequences of
his crime? The case Is fairly bristling
with facts, in veritable battalions, con
demning this man.
The dastardly temperament of this
foul murderer Is shown you in the man-
.. r th fHm well As In the story
told by Finch. He tells you of his pio
neer days and rammes tor nmiru nuuui
everything In his past, social, political
and personal. But with the picture of
how he crept In upon that young man
...fr.H nut hu life in his mind, he
hesitates at entering the death chamber
of his own making. Tnree times ne ap
proaches the scene of his crime and each
time he backs away in hla story."
Spencer then went on to compare Finch
THE 3IORMNG
READER
rsf .
"' ' .;
-or
- ,
of plays by amateurs in Portland.
v.
with BUl-Sykes, Dickens' terrible char
acter. "You better deal In facts, not fiction,
piped Lawyer Campbell.
Finch turned "upon this lawyer wrath
fully. "Keep quiet," he snapped. "Let
him go it."
Mr. Spencer closed his argument at 4
o'clock with a strong appeal for convic
tion, and after a recess of 10 -minutes
Lawyer Holcomb arose to speak in behalf
of Finch.
Holcomb led off with a verbal Jab at
Special Prosecutor Spencer and then
flitted off into the realms of Biblical lore
and threadbare metaphor. He seemed to
have a special grievance against Spencer
and referred to him every few moments
as "this railroad hireling," and once as
serted "this railroad hireling has been
hired to railroad a man to hell." He
finally got to the point of referring to
him as "an unprincipled skunk" and cast
the insinuation that an effort had been
planned to tamper with the jury.
Spencer Doesn't Mtnd Vituperation.
"This is going too far; you will have
to confine yourself to the' case," Judge
Bronaugh Interrupted.
"I'm sure I've got no objection to his
going ahead and making as much of an
exhibition of himself as he pleases." said
Mr. Spencer, who was the object of Hol-
comb's bitter words.
Holcomb accordingly spent another 10
minutes declaiming against Spencer, as
serting that since he was lawyer for a
Harrlman railroad line the "soulless cor
poration was taking a hand in railroad
ing Finch's soul to hell."
'He finally got down to the case, dis
secting the state's evidence, and laying
emphasid on the claim that everyone
must be -lying except Finch and the one
or two witnesses who gave evidence
which In any way favored him. He was
sure that Finch had no malice against
Fisher, that Finch killed Fisher only in
self-defense, that Finch was being per
secuted Instead of prosecuted, that it was
Impossible for a man to fall In his chair
as Fisher was found lying.
Xight Session Ordered.
Holcomb wandered along until 5:40 P.
M., when he was asked how long It would"
take him to flnteh. He said he wanted
about half a day anyway.
"Very well, adjourn court until 7:30 P.
M.," said Judge Bronaugh. Holcomb pro
tested at this, saying he didn't like a
night session, but the court persisted.
Gets In Trouble With Court.
At the beginning of the night session
Holcomb was In even a less amiabls
mood. He had little more than got
started before he was checked by the
court. Judge Bronaugh Informed the
caustic lawyer that he would be cited
for contempt of court unless he changed
his course. Holcomb had Just attempted
by a species of Innuendo to give the Im
pression that the court was prejudiced
In the trial of the case.
Holcomb apologized abjectly, but
thereafter was little more tractable, sev
eral times approaching the danger line.
He referred to Miss Burkhart as a "poor
little girl" who was mistaken In what
she said and disparaged the other wit
nesses of the prosecution.
He talked steadily until 10:15 o'clock
and tho Interest of the Jury, as could be
plainly seen, was sorely taxed. One
Juror seated In the second row of the
box took occasion to slumber through
the latter part of the ordeal; leastwise
he settled far back In his chair, closed
his eyes, leaned on his hand and
breathed heavily.
"Don't return a verdict that will gnaw
at your hearts1 like a cancer," he ad
monished the jury. "Justice is what we
want. The state asks only one verdict
of you and that Is for human blood. This
defendant Is in the bloom of his youth.
If he has been Indiscreet, that Is one
matter to be taken consideration of, but
I want vou to examine all the circum
stances and see if you cannot find It in
your hearts to send this man back to
home and mother. Are you going to
send him home to his wife and babes
and mother, or are you going to send
his soul to hell?"
At 9:30 o'clock Finch, who had been
writing steadily, passed out a bunch of
copy to Holcomb. who proceeded to orate
from these notes, which called attention
to Finch's Irrational condition after the
murder. These little gems of thought,
however, added nothing to the murderer's
cause. The speaker was handicapped in
on-? respect Inability to catch the eyes
of the Jurors. All were busy with prob
lems presented by the floor and ceiling
and walls, except for an occasional
glance at the spsaktt. There was pathos
enough In some of the pictures he drew
of the old mother, of the Invalid wife.
Holcomb reallv presented this picture ad
mirablybut for a reason that those fol
lowing the trial believe they knew, the
jury remained dry-eyed end unaffected.
OKEGpyiAN. TUESDAY.
TAX LEVY OP 6.S
MILLS REPORTED
On Valuation Assessed This
Will Bring in Revenue of
$1,424,520.30.
COUNCIL MAY INCREASE IT
Much l)iscn;-ston Expeclcd al Ses
sion Today Before Report Adopt-
cd Departments Will Have
More Money Than Last Year.
city ijrw recommknued by
ways and means
committee.
Amount
riep'artment I.vy.
Fire 2.25
Police l.:i"
reallard.
t 4r..:n.n;
2K.".S.-.SS
17-2.SC.9.1S
12.V1s.-i.1U
Jl'.t.OUrt T
srt.S4..".r,
K17.UlS.2l!
Interest
Lighting ,
Street repair ...
Library .
Park
Special bridge..
Totals
.8.60 f 1,434.520.30
Not lncl ided 'in city levy for de
partments. ,
A levy of S.6 mills, based upon an as
sessed valuation of $213,000,000, will yield
a revenue of J1.4i4,E20.30; and is recom
mended by the ways and means commit
tee of the City Council, which has held
several special sessions for the purpose
of wrestling with this matter. After an
all-day meeting, faction was taken, and the
report will go to the Council, which will
meet in adjourned session tomorrow
morning. It is forecasted that if any
change at all is made In the levy, it will
bo an increase, for there is going to be a
fight by certain members, headed by.
Councilman Rushlight, for a tax suffi
cient to build a new City Jail and a
modern crematory. However, it Is thought
at this time that this will be unsuccess
ful, notwithstanding the urgent appeal
by Mayor Lane and others for relief.
Much Discussion Coining.
The levy recommended by the commit
tee will undoubtedly provoke much dis
cussion tomorrow, and some of the Items
may be pruned. The Police Department,
which asked for $288,000, will realize on
the levy recommended $295,695.88, although
the committee recommends the abolition
of the woman's detective burea, of
which Mrs. Lola G. Baldwin has been
the chief for one year. It is a depart
ment organized last year for the purpose
of assisting young girls and women in
various ways, but Is said by the commit
teemen to be unnecessary, since the Cel
lars anti-women-in-saloons law took ef
fect, and it is slated to ''go," although
some friends of the bureau may be pres
ent tomorrow to protest. The City At
torney has ruled that, although It Is a
civil-service office, it can be abolished.
More Money Than Last Year.
If the levy carries as recommended by
the committee, all of the city depart
ments will have more money than this
year. The Fire Department estimate can
not be met. as the amount asked for, all
of which is more or less urgently re
quired to care for the growing needs all
over Portland, was above the levy fixed
by the charter, and had to be held down
for that reason, so that the maximum
revenue on a 2.25-mill levy will be $485.
C31.92. 'While the committee made the
levy this figure, the Council may prune
this down somewhat, but the need for
new stations, equipment and men Is so
great, according to the annual report of
Chief Campbell, that the full amount al
lowed under the law would not satisfy
the demand.
The Park Board aleo over-estimated,
asking for $116,000. and the committee cut
this amount down to $86,334.56. There are
two items, interest and Epecial bridge
fund, which are not Included In the de
partment levies. The committee recom
mends a levy of 1.37 mills for the interest
fund, to cover the interest on bonds, ana
of .50 mill for the special bridge fund.
This would yield the sum of $107,918.20,
which would be sufficient to pay for the
construction of a projected bridge across
Sullivan's Gulch at East Twelfth street.v
now being strongly urged by those inter
ested in that vicinity. The revenue on the
TOECM)
Lease Expires Jan. 1. Store Rented Over Our Heads
For weeks we have been negotiating for a renewal of our lease (five-year term), but, owing to the fact that
Olds Wortman & King are about to build a large department store on the opposite corner from us, and the
raising of all rents in this locality, we were unable to renew our lease on a basis satisfactory to us or within
reason. Thursday we were notified that all further negotiations were off. and that our store had been rented
to others. " . A ,. , . .
Our immense stock of the FINEST PIANOS AND PLAYER-PIANOS on the Coast must find homes im
mediately. "WE'VE GOT TO SELL 'EM, AND SELL 'EM QUICK."
We know of no other store available suitable to our business, so have decided to give the public the benefit of
our misfortune and a chance to buy fine pianos and player-pianos, in fact, our whole line of goods, at such SAC
RIFICE PRICES as were never dreamed of before in this or any other city. We must lose no time.
$900 Player-Piano for
$750 Player-Piano for
$600 Upright Piano for..'
$350 Ucrieht Piano for
$275 Upright Piano for
$140 and $l&
NOTHING RESERVED OUR ENTIRE STOCK TO GO AT THIS FORCED
OUT SACRIFICE SALE
D0 YOU WANT A TALKING MACHINE OR CABINET? If so, our prices will surprise you. This is
your one REALLY GREAT OPPORTUNITY to snap up a fine instrument at a tremendous saving. Sale now
under way-come early. Not necessary to pay all cash; we will extend liberal time payments to responsxble
parties. Open every evening.
H0VENDEN-S0ULE PIANO GO.
CORNER MORRISON AND WEST PARK STS.
DECEMBER , 29, 1908.
Interest fund levy will cover all proposed
bond sales, inciuaing par, u
provement and bridges.
Public Dock Question Arises.
A question that came up during the
morning session of the committee was
regarding the advisability of selling the
bonds provided for In the charter amend
ment, calling for $.rfl0.000 for public docks,
reinforcing water mains for the fire dis
trict and a steel flreboat. Councilman
Wallace, who is chairman of the com
mittee on commerce, landing and
wharves, having this matter In charge,
declared himself as of the opinion that
these should not be sold. Councilman
Kellaher. however, declared that. Inas
much as the people so voted, the Council
should dispose of the bonds and proceed
to carry out the plan. He said that the
public docks will be of great Importance
in the future of the city, and should be
secured at once. The interest fund was
therefore made sufficiently strong to pay
the Interest on these, in case the Council
decides later to sell them.
Mayor Talks on Lighting.
When it came to the matter of fixing,
the levy for the city lighting. Mayor Lane
requested the committee to recommend
the maximum,- and said that, if it was
done, It would enable the city to Install
its own distributing system and even es
tablish a steam plant for making cur
rent. It was found, however, that this
could not be done, unless the matter were
submitted to a vote of the people. The
levy for lighting was therefore fixed at
.R8 mill, which will yield a revenue of
$125,185.12. This. It is thought, will en
able the installation of about 200 more
street arc lamps, which it is hoped will
be accomplished within the year.
Differences of opinion between the Coun
cilmen as to how. where and when to
build a new City Jail bids fair to defeat
the plan to make a levy sufficiently large
to build such a structure. Councilmen
Rushlight and Dunning were the only
members of the committee who favored
such action, while opposed were Council
men Kellaher, Vaughn and Cottel. They
believe, there should be a bond issue to
cover the expense, so that future genera
tions will have to pay the bill. Mayor
Lane, who was present by request, urged
the committee to make the police fund
high enough to enable the department to
build a station on the East Side, to re
lieve the congestion on the West Side,
and to buy an automobile patrol and two
or three motorcycles, for use in speeding
to the scene of hold-ups and emergencies
when the cars are not running, such as
the police, he said, are often called upon
to do.
Salaries Thought Too Large.
After the Council acts upon the recom
mendation, of the committee, the yearly
appropriations must be made, and this
will devolve again upon the ways and
means members, who have to recommend
the manner In which the various amounts
shall be expended by the departments.
COMPARISON OF LEVIES FOR
RECENT YEARS.
Amount
Date Lew. realized.
1006 .'. 5.2 $ 7S2.000.OO
1-.I07 5.7 SM9.000.00
11)08 6 1.424,502.30
Proposed.
For example, the committee must report
upon what new fire stations, if any, shall
be ordered, and how many new policemen
and firemen. There is a general feeling
that the salaries in the Police Depart
ment are generous, and there will be an
effort by some Councilmen to reduce the
salaries of the detectives.
LISTEN!
Jinks Hello. Central! Main 8611. Hello,
this you, Binks? Wife and I are going to
keep open house in the cottage by the
ocean New Year's day. Want you and
Nell to Join us. Ed and Louise, and
Charlie and his sweetheart will be there.
That will make eight. You know the
A. & C. train runs through to Seaside
Thursday night. We'll get there in plenty
of time to see the old year out, and come
back Sunday night. Will you come? All
right: let me know.
Jinks (answeiir.g phone five minutes
later) Good: Meet you at the Union
Depot New Year's eve. Train leaves at
6 P. M-, sharp. An revoir!
Passenger Trains on Time.
"That's a pretty clean sheet," said
William McMnrray. general passenger
agent for the Harrlman lines In this
territory, referring to a report as to
the operation of O. R. & N. trains for
the day which had been left on his
desk. The report showed that at 8:30
o'clock yesterday morning, every train
running over this road into Portland
was on time. The operation of these
trains has' been strictly according to
schedule for several days, with an oc
casional single exception.
$650
.$545
$412
$235
.$172
Slightly used Upright Pianos,
DECIDETODAY ON
PARK BOND ISSUE
Council Must Pass Remedial
Act to Enable Delivery of
Bonds This Year.
COMMITTEE TO DETERMINE
Securities to Amount of $500,000
to Be Sold at Once if Action Is
Favorable Only One Bid Ac
ceptable to Park Board.
Whether or not there will be available
$5CO.0C0 with which to purchase property
for public parks, boulevards and play
grounds this year, will be decided at an
adjourned meeting of the ways and
means committee of the City Council at
10 o'clock this morning. With but three
days remaining, and It being necessary
to pass some remedial legislation at the
Council meeting tomorrow to make the
sale legal; and it being equally neces
sary, under the law, to deliver '.he entire
issue to the buyer before midnight of
Thursday, It will be seen that the time
limit is exceedingly brief. If the sale
goes through this morning, as reconi-y
mended by the Park Board at a spe
cial meeting yesterday afternoon, the en
tire Issue will go to the Harris Trust &
Savings Bank, of Chicago, of which
George II. Tilden is the representative.
Tho bid for immediate delivery and tpot
cash payment is five-eights per cent pre
mium, besides par arfid accrued Interest.
Thero were severaj higher bids, but
none apparently so worded as to make
possible a sale. The best bid. judging
from the face value, was put in by
O'Conner & Kahlor, of New York, for 2
per cent premium, but the bid could not
well be accepted, as the delivery ar
rangements semed not of the proprr k r.d
to meet the urgent need of the Park
Beard In purchasing its property before
the values advance. The most urgent
feature of the transaction is that the
bonds be delivered and paid for before
the close of the year. If they are not, it
will mean that only $200,000 will be avail
able for use in this respsct during 1909,
but If this dtal is 'consummated before
midnight of Thursday, it will be pos
sible for the city to sell the remaining
$?00,COO worth of lords any time after
January 1, 1909, and thereby have a full
million to spend in acquiring property for
parks, K-ulevards and playgrounds
throughout the municipality, according to
the phis outlined by the Park Board.
Ther3 was but the one bid by the Chi
cago firm which could be aiHed upon
without parley, it seemed, and after care
ful consideration, the members of the
Park Board voted to recommend that
this bid be accepted :ind the bonds sold.
It was thought that it would work to the
better advantage of the city to lose some
on the amount of the premium at the
outset, if the funds from the bonds are
made immediately available, than would
be the cise should the bid be rejected.
The rr.pid advance in Portland realty is
assigned as the explanation of this.
Already there have, teen substantial
gains in the prices of some choice pieces
of land sought by the Board, It is de
clan d.
Members of the Park Board were in a
quandary- to decide which way to act
upon the matter, as they felt the. bonds
should be sold at once, but wished to get
the best possihle preiviums for the issue.
It was only after very careful considera
tion that the vote to recommend the s:ile
was taken and this will be reported to
tho committee which will meet at W
o'clock this morning.
Attorneys for the bond buyers in
vestigated the legality of the Issue, and
reported back that it will be necessary
to pass an ordinance, to which shall be
attached a copy of the bonds, with the
full wording of the issue, so that tne
legality will be clear. If the committee
acts favorably upon the recommendation
of the Park Bord, such an ordinance w ill
be drawn up and presented to the Coun
cil for action tomorrow. The ordinance
will be an emergency act, and will re
quire the affirmative vote of 12 Council
men and the signature of the Mayor to
make it effective, under the ruling of the
State Supreme Court.
Other bids were received from C. H.
Rollins & Sons, of Denver: Morris Bros.,
of New York; the American Trust &
Savings Bank, of Chicago.
rm
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