The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-02-15
WHAT THE,sTRUST WILL DO
w. P. Fishback Says It Will Absorb the
Indianapolis Company After While,
And Then 1t Will Have No Competitors-Th
Conditions Under Which Pipe Was Pur-
chased by the Trust Company.

When asked for a bit oe information the other
day concerning the payment of assessments by
he stockholders Of tho Trust company, one of
t. directors replied that they were being paid in
satisfactorily. There will be but little shrink
age, if any, he remarked. He pressed to
be little moro definite in regard to the sum OF
money on hand This he declined to give. ex-
cept in = round sum, emphasizing his answer
with the suggestion that he did not why ths
payment of assessments by the Trusts stock
holders should be any mors matter
Of inquiry than the payments stock by the
hareholders of the indianapolis Natural-gas
Company. He YVES told that the people were
led to believe they had an interest in the Trust
and that anything which referred to tho people
was . legi innate matter of newspaper inquiry.
To this reply was offered except that fnan-
cial statement would be made by the dire ctors
at the proper time. The Trust people
pressing the payment Of assessments, and say
hey have ab out SI75. 600 on hand now. A col
ector is out after the delinquents, and it is re-
ported thatabou So, 900 is yet due on the first
assessment It is said some of the delinqusnts
meeting all their assessments, and that
nearly all, if not all, the full amount will be
realized.
But as they were in regard to informant on
about assessments. tho directors are con-
corning the details of the contract with the
American tuhe-works for the high pressure sys-
tenn. The several conjectures concerning it
were detailed to q Trust director yesterday. who
simply denied them. and although the reporter
was persistent, the director refused to part1c-
uarize wherein these conjectures differed from
the facts. except in the statement that
the pipe and the work in laying it were
to be paid for the instailment plan Later
on the same inquiries were put to W. z. Fish
back, who also declined to satisfy legitimate
curiosity. But said be- the Trust will not
sell gas for less than the ordinance rates until
the plant is paid for"
docs that mean an agreement 20 that effect
with the American tube-worksa" the reporter
asked.
THAT is a lie out of whole cloth The direct
ors of the Trust are no tools. They know what
they about Pipe is to be delivered here
Immediately and after while there will be but
one natural gas company in Indianapolis The
Indianapolis company will be glad to sell out to
u.s.
us it true, Mr.. Fishback. that the American
tube works will have the gross proceeds Of the
Trust until the plant is paid for2"
"Oh. there is nothing in that The company
will pay by installments, and have plenty of
money to do it with. The company has already
5000 contracts from consumers. That insufes
good income from the outset" .,
1t is learned from the inside. however, that
the Trust has arranged with the American tube
works, in lieu OF a mortgage on the plant to
give the contractors the gross proceeds of the
company, until the Indebtedness with interest,
1s cleared OF. AFTER thaG the company IL IS
said, hopes to be in position to meet sthe obli-
cations attending its formation. But said
citizen yesterday, IF the Trust has decided to
sell gas for an indefinite period of years at
nothing less than the ordinance rates, do
not see how it will be able to meet competition.
The Indianapolis company, | think, burning
its bridges behind it in Withdrawing requests
for an amended ordinance expects to meet the
Trust with prices for gas lower than the ordi-
nance rates. With the obligation to paysjts
stockholders per cent. ard the larger part of
the proceeds, if not all. gong to the company
that ia to construct the plant. the Trust. If it
desired to do So could not operate on anything
less than the ordinance prices. =.