The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-03-06
ANOTHER CHEAP FUEL TRUST
The Benefits To Be offered Patrons of
the indianapolis Company.
Consumers Will Be Allowed to Become Own
ers of the Plant Without Paying More
than the Cost of Gas Supplied to Them.

If what the Indianapolis Natura1-gas COM
pany has in view is carried out. and there is no
reason for any one conversant with the opinions
of its directors and stockholders to think other
wise, the city is to have the benefit of comped
ton in cheap fuel TO its widest limit More than
this, affairs taking such a turn that when
prices below the ordinance rates one Q pre-
vail there will be chance for ad-
vancing them without the consent of consum-
ers notwithstanding the provision in the
ordinance permitting it to be done after short
period of years. The Indianapolis company, as
its president stated the other day. is preparing
to meet competition at the lowest possible rates.
but he did not reveal another feature of its poll
cy which the people will receive. no doubt. with
equal, if not greater favor. It rumored
yesterday that the company had decided
TO adopt trust plan for the
benefit of it's consumers, which. on being men
toned to director of that organization,
ceived partial confirmation. I'VE have been
talking about such plan," he said. land it is
very probable one by which the consumer can
become directly interested in the affairs of the
company will be adopted by the directors at
their next meeting"
''Does the idea tend to increasing The capital
of the company and issuing stock to consumers,
as has been done by the Trust9" the reporter
asked.
'Notat ALL The identity of the Indian apolis
Natural-gss Company is to be maintained, but
it's consumers are not to be considered merely
as customers. They are te have. if the plan is
perfected and approved. proprietary interest
in plant without putting mp dollar
for stock or contributing in any way
to the investment The company
| is TO supply the money, the pipe and the gas,
and the consumer is to furnish the business by
which he, in time, is to be permanently bene-
| fitted by getting his gas free. / mean as
| free az it will be. The company is to take
| all the risk, the consumer none If, after
term OF years, the gas is exhausted ne Will oe
out nothing the investment, bat he will have
had the use of cheap fuel as long as it lasted"
You speak of the consumer acquiring pro-
| prietary interest" was suggested.
That is what it will amount to in the end
| The consumers after awhile will own the plant.
| not the company. and the plan by which it is to
| be accomplished is simple indeed. Any one
who contracts with us for his gas is to have the
| same terms any other consumer has. All alike
| will enjoy the benefit of every reduction.
| and the agreement the company will enter into
| with the consumers is that it shall have more
| than per cent. on its investment Out of the
| earnings il will, according to whatever terms
| may be agreed upon by those acting for the
| consumers, take enough yearly to apply on the
principal After the principal OF the invest
| ever else belongs to the Indianapolis Nat
ural-gas Company. is to be- turned
meantime the consumers are be represented
| in the affairs of the company by three trustees
| who can at any time have access to the books
| and papers to satisfy themselves that the COM
pany is carrying out the letter and spirit of the
| contract One of the trustees will be given
| sumers have through him direct connec-
ton with the management of the
company. It is exactly the plan
that the consumers are not required to pay for
anything except the gas they use until the plant
| becomes entirely their own. This arrangement
vw-sYI TnSs lie nor
| thing yet devised, for any coming here
| the certainty of his obtaining in the end free
| gas. The details of the plan have not been dis
| cussed, but this idea has been talked about by
| our directors for the past ten days. and it will
| undoubtedly have its fulflment at the next
| meeting of the board"
| The company will file its bond to-day and be-
| gin work at once on its system to answer the
/ demands of its consumers whom it has agreed
| to furnish gas by Thursday week. In reference
| to the form of contracts which the company
offers. the Sentinel, yesterday, calls attention
| Clause 13 of the rules the company has adopted
| This rule applies TO mixers, and states that
| gas shall be used except through them,
| which loaned to consumers by the
| company The Sentinel says that nobody
| should sign a contract containing that rule.
| When Allen NJ Fletcher was asked If the other
companies had not adopted a similar require
| ment, he replied: THAT is the most ridiculous
| charge made yet The contract we are offering
| is copied. word for word from that of the Trust
company, and rule No 10, quoted by the Senti-
nel is in their contract precisely it is in
| The same form and the same rule are used
| by the Broad Ripple company. that all
| the contracts identical in this regard We
| copied the contract and rules of the Trust for
the very purpose of dlsarming criticism. and if
there is any trick in contract it is in theirs
Also The only difference is they ask people to
| contract for three years while we only ask them
| to contract for one year and agree to give them
| the benefit of any reduction In prices"
Mr. Fletcher was asked if there anything
| in the Sentners criticism about the of mix
ers. Nothing whatever" he said Natural
| gas cannot be used without mixers They are
nSed all cities and nv all cOmpanlaaT