CHAPTER IX. 
MORE BONDS AND “HIGH FINANCE.” 
With the many and extended land acquirements by the 
Park Commission during the latter part of 1896, and 
with some of the single purchases running into the 
thousands, money went fast. In February, 1896, a 
requisition was made on the Board of Freeholders 
for the remaining $1,500,000 of the authorized $2,500,- 
000 appropriation. By June 1, 1906, the commit- 
ments and assumed obligations were nearly a million of 
dollars. Bids were advertised for and received for the new 
additional bond issue under the same plan and method as 
employed in the disposition of the first million of bonds 
the year previous. Of the bids opened June 16, there were 
four for the full amount, $1,500,000. The new York Life 
Insurance Company offered 104.08 and D. A. Moran & Co. 
101.68 for four per cent. bonds; Franklin Savings Insti- 
tution, of Newark, in series of bonds at four per cent., 
101.40 to 102, and J. & W. Seligman “10028” for a 3.65 
interest issue—the same as the $1,000,000 of bonds awarded 
Vermilye & Co. in August, 1895. In comparing the bids, 
a controversy between the representatives arose over the 
omission of a period in the Seligman bid. This led to a 
series of triangular protests and an attempted withdrawal 
of. some of the proposals; which, however, was not per- 
mitted. It was admitted by members of the Finance Com- 
mittee of the freeholders, in charge of the bond-letting, that 
the bid in question, and all the bids, had been made in good 
faith, and that the meaning and intent of the “10028,” 
minus the period, was “perfectly clear.” It was there stated 
that the Seligman bid was “upward of $20,000 better than 
that of the New York Life,” and that “the four per cent. 
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