The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-10-15
CAPITALISTS NOT WANTED.
Operations of MI. Kennedy's Railway
Company in Chicago
The Money of Capitalists Not Wanted, but
the GudgeOn's Cash win Be GobbIed
Ingenious Plan for Dividends.


pany of America" cycling reporter Of the
Times suspiciously.
eve don't want nobody in our scheme
who can gobble us up-nobody with $780,
100000. We want the people, men who can
put IN $32 80, or $3.50, or $50, 900, or $780, 900,
but no millionaires."
The reporter had gone modestly to room
So, No. 80 La Sale street. the offices of the
Peoples Railway Company of America"
and applied for information. A circular
had been placed in his hands declaring that
parties wishing to assist in the formation of
local boards of the Peoples Railway Compa-
ny of America will be supplied by calling
at the principal office, No. 90 La Sale street,
rooms 50 and So"
'Do you want to invest or to canvass?'
asked young man in the Office.
I'D like to investigate the scheme little
before joining it,
well, the company was formed last June,
at indianapolis, to build a double-track rail
road from Oakland, Cal, TO New York city.
We've just started an Office in the city. We
elect local board Of directors tonight"
Have you begun operations yet?'
ayes, we've got party of surveyors out"
"Have you collected any money yet?'
yes indeed We've collected thousands
OF dollars in California, where the people are
ripe for it, There are to be 3, 500, 900 shares
OF $50 each. The beauty OF the scheme is,
you don't have to pay but $3.50 for the
shares now After while the price will be
raised TO par. If you pay $3.50 you secure
one share of stock; if you pay So you secure
from two to ten shares. The canvasser can
not ask You for any money oftener than
every sixty days, so that you have at least
year and half in which to pay for your
stock"
"How much stock will there be when it is
all issued?"
eve are only going to issue 400, 900 shares
of stock to the value of $50, 900 900 now.
Next year we will issue $1,000, coo more.
When we have all our stock issued We will
have $l75, 100000 OF stock. Therell be no
mortgages nor any bonds, only the $175 O0O,
900 OF stock I'll wager"
DO you want to canvass or invest?" broke
in Mr.. Phillips, a ng-haired, elderly man of
the female suffrage type.
II don't understand your scheme yet"
"You see, it's a national affair" said Phil
lips, earnestly "The head Office is at In
dianapols. We've just opened this office,
and elect officers tonight. The office at San
people there have been suffering terribly
from the old roads, and were just ripe for 1t.
This road is to be built for the people and by
the people. The stock is offered in eight Sc
ries-seyen of them of 400, 900 shares each,
and the eigth OF 100000 shares-at five cents
on the dollar, subject to assessments. The
shares are to have a face value
of $50 each, and are to be paid for
by instalments of $3.50 on each share.
Everybody will be required to pay 50. so per
share when signing for any number of
shares. Afterward assessments will be made
not oftener than every thirty days. Every
official and every employee OF the company
must be stakeholder holding shares &C
cording to salary received. The company
will always redeem its stock at par for
freight or transportation. 1t will be con-
trolled and msnaged by a national syndicate
and board of directors. Local boards will
be organized along the route of the road in
all the principal towns, and will sell all the
stock offered in the vicinity. All officers of
the road who handle money will be bonded
Its capital stock will be $4,000 per mile
''Do you find any difficulty in getting sub
scriptions?" interjected the reporter
"Well, 1 should say not. We pay can
vassers handsome commissions. Don't you
want to canvass?'
What do you pay?"
at depends. We've not fixed any regular
rate yet A good canvasser can make $500
to 81 900 per month, easy"
There is rafting canvasser at San Fran
CISCO" chimed in the young man, 'who
makes 81, 900 week-yes, sir, 81, 900 hard
money"
80, well" said Phillips, CHATS an extraor-
binary case; that's good territory; it isn't
everybody who can make as much as that
canvassing, but anybody can make $500 a
month"
THE Peoples Railway Company is as vii
famous a scheme as was ever concocted to
rob poor, simple people of their money. In
telligent people stand in no peril from it.
The fraud is too transparent. 1t is the ignor-
ant and the poor whom it is designed to
wheedle out of So. so each who are in danger.
The company has a great list of officers.
Emf Kennedy, of Indianapolis, is down as
president" There is at encouragement"
a chief engineer and ''surgeon-general."
Among the Chicago names in the directory
are u. A. Boughton, who, until recently was
travelling salesman for a barbed-wire con-
Germ; j. @, Baird, who IS down in the direc-
tory as civil engineer, and lives at Went
worth avenue and Fortieth street, and A. P
Gilmore, who is represented as a physician, at
No. 267 Ontario street.
While the reporter talked with Phillips.
President Kennedy came in and was in
troduced He said that he was in town to
organize the local board at Chicago.
Are you in any business Mr.. Kennedy?'
he was asked
"At present 1 am giving my entire time to
the Peoples railway"
''What has been your business?'
81 was in the lumber business in Ohio l
also organized the Chosen Friends society
and the Iron Hall"
What is the salary of the president of the
Peoples railway"
Nothing at present. I told the incorpo-
rators that should not accept over $40, 900
year"
who selected you president of this COM
pany?'
''The syndicate"
"Eh?"
There is a syndicate consisting of $50 per-
sons who take 1000 shares of stock. The sym