A NERVOUS MOMENT AT AN ALASKA AUCTION
In the summer of 1993, the FDIC held a land
auction in Kenai, Alaska, in the saloon of a hunting and fishing lodge, the
most suitable site available. A wide assortment of bidders was on hand,
including a few hunters who carried their rifles into the saloon. One
successful bidder plunked down $40,000 in cash in mostly small bills to pay for
his winning lots. It created a nervous moment for FDIC officials when the
auctioneer counted the cash at one of the saloon tables, while armed hunters
drank beer and shots nearby. --Lee Kutlich
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