The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-07-13
LETTERS TO THE EDITOR.
A Call for Proof.
Of the Indianapolis Jouruan


To the Editor OF the Indianapolis JouruaE
In your issue of yesterday, in an editorial
article concerning the Peoples Railway
Company of America you made the follow
ing statement
Weknow there are names of subscribers to Its
stock who say they have neither sub scr;bed nor
paid dollar.
This being specific charge, propose to
meet it in q fair and square manner. FIRST
therefore, | say there is not one name
signed as subscriber TO stock which was not
signed directly by the individual or by power
OF attorney. Now the question of veracity IS
raised by which stand or fall. and 1t rests
with you to give the name of such subscrib-
ers. Can you do it?
Bring on your horse, with such infantry
and artillery as you may hsvein reserve, for
the matter here in question. You must prove
that which you assert, that the names OF men
have been signed to the articles association, or
who are, in your own language, subscribers
to its stock, who say they have neither sub
scribed nor paid a dollar" or plainly with
draw the statement and confess your error.
Ii they are intelligent men, they know what
they signed in the articles of association,
which provided for the election of officers of
the company from its subscribers-a copy OF
the Original having been placed before them.
Your statement compels me to call for the
name or names of your informant, because
+.
While attempting to place this matter in a
clear light-'with malice to none'-it is not
IN spirit of controversy, but rather for the
purpose of setting the matter plainly before
the public
1t has been charged in the Journal that the
sums of money paid In by subscribers and
stockholders would be squandered in salaries
and other expenses In answer to this de-
sire to say that all moneys paid i'll will be
used with such economy as not to cost each
shareholder for advertising, books, agents,
establishing local boards, ETC., more than D
cents on the dollar.
Will you tell your readers what 1t has usu-
ally cost to negotiate stocks of existing rail
roads, when placed on the market. Does 1T
not cost all the way from go cents to % cents
on the dollar to negotiate stocks? Have they
not sold on the market for cents to 40 cents
on the dollar, with comieission to agents to
come out of this?
Say to the public that you receive more
per day for writing such matter as you have
given concerning THE Peoples railway
THAI they would pay you in any other held
Of labor, and it will justify your suggestion
me. that PUN the Peoples railway while
you will run the Journal"
Show the public that 8 per cent of 500
coo, 900 is 81, 100000, and then that without
any assistance of the press 81 600 In stock,
per day, has been subscribed, and that at $40
per day, 1t would only cost the half of l per
cent on each dollar SOLD, ana that SlO,ooO
per annum is less than one quarter of the
average salary received by Jewett, Stanford
OrockeP, Gould and other presidents and
prominent officers of railway companies.
Where does all this money come from, if not
from the people2
Tell them to address, for accurate infor-
nation concerning The Peoples Railway
Company Of America. the undersigned and
let them Judge for themselves; them if they
are not satisfied let them enquire of you.
Thanking you for your desire not to at
tack me personally, and trusting that you
will treat other honorable men associated
with this enterprise with like consideration;
EMI KENNEDY, President.
Zone statement may have been made
broader than the facts warrant or than was
intended. The fact is that all signers to the
articles of association have not paid their
subscription, and some do not intend to-
Ed Jodrnal7