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The Daily Dispatch: December 06, 1860., [Electronic resource], Reports of the Secretaries. (search)
lready referred, came. Some of the bidders promptly complied with their proposals, and others were willing to do so, if required by the Department, though it would be at a considerable sacrifice. Under these circumstances, an additional term of thirty days was given to all bidders who would deposit one-half of the amount of their bids within the time originally prescribed. Most of the bidders availed themselves of this extension, and made their deposits accordingly on or before the 22d November, 1860. A portion, however, failed to do so, and to them the additional thirty days has been offered, on condition that they would increase their forfeit deposit of one per cent, to five per cent. To this proposition no response has as yet been received.--The amount of the loan awarded to this last class of bidders is $1,099,000. The question presents itself, what action shall be taken in reference to the stock which may be thus forfeited? There is no power in the department, as the law