Stein Bros. & Boyce
company · active 1939
Baltimore investment bankers. Bid 103.939 for Ocean City's $10,000 issue of Sewerage and Improvement Bonds of 1939 at the bid opening of 23 May 1939, against Mackubin, Legg & Co. at 103.2799 and Marburg, Price & Co. at 101.699, and were awarded the sale on Rayne's motion.
In the record (1)
1939 · 1939-05-23
Ocean City sold $10,000 of sewerage bonds in May 1939 to run lateral sewers off the plant it had just built
Chapter 269 of the Acts of 1939 (House Bill 598), approved 13 April as an emergency law, empowered the Mayor and City Council of Ocean City to issue coupon bonds to the amount of ten thousand dollars 'for the purpose of improving the sewerage system of said town by construction of lateral sewers to connect with the sewerage disposal system recently completed in Ocean City under a Public Works Administration project'. They were to be styled 'Ocean City Sewerage and Improvement Bonds of 1939'. The council passed the sale ordinance on 18 April, coupons dated 1 May and 1 November and one bond retiring each year from 1940 to 1949 inclusive. Bids were opened at the meeting of Tuesday 23 May: Marburg, Price & Co. 101.699; Mackubin, Legg & Co. 103.2799; Stein Bros. & Boyce 103.939. On Rayne's motion, seconded by Bounds, the sale was made to Stein Bros. & Boyce.
The plant was finished in 1937 and the town spent 1938 discovering it could compel people to connect to it. 1939 is the year it borrowed to build the pipes that would let them - which is to say the sewer took three years and three separate acts of will, and the order was backwards throughout.
Harold J. RayneE. Raymond BoundsClark Gardner
Source · checked 2026-08-11