The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-02-08
GREAT PIPE-LAYING PLANS
The Trust Will Try to Put Down 200
Miles of City Mains by June 1.
Talk With Mr.. Westcott Regarding the Fut-
ure of the Broad Ripple Company-Ad-
vice for Reai-Estate Owners

The Trusts committee on pipe yesterday
heard from the representatives of three sube-
works that are seeking to make contracts with
the company The question has been pending
for some time and is not yet settled. though
the committee expects 10 reach decision in q
few days While the directors OF the company
say they are not cognizant of the details of the
committees plan. and the committeeman them
selves are cautious ia giving anything for pub
LEGATION until their purposes are perfected, the
general object is given out by who says
he has his information directly from the inside.
He does not desire to be quoted, but his assur-
ances are that the committee has an extensive
scheme in view. It contemplates the laying of
TWO hundred miles of city mairs by the LIST of
June. To accomplish this plan, it is proposed
that the three tube works-the National of
McKeesport, the American of Youngstown, and
the Pennsylvania of Pittsburg-making the
contract shall pool their interests and do
the work, including the outside pipe
line from the wells to the city
limits. The figures as to prices involved in the
proposition are not obtainable, but as the con-
tract will cover no pipe smaller than six inches
gentleman conversant with the cost OF pipe
lines says this plan would require average
outlay of 81. 900 per mile. It was reported that
the means by which this work is to be accomp-
lished would come through construction COM
pany. but this. one of the directors not Of the
pipe committee, says is not so. That idea has
never been talked Of by the board and he thinks
the rumor arose through the possibility OF some
of the pipe manufacturers having proposed it to
the committee. He did not believe any plan
of that XII nd would be entertained for mo-
ment by the directors. He said there was no
e., 80 L. - h~xrSv
as now good part Of the back assessments. as
we'll as the one current, was being paid. Il the
directors were using money more extensively
the payments would be larger, as many OF the
subscribers stood ready to meet the demands on
them fast as the money was needed. he
further said that fully $475, 900 of the stock sub
scrbed was good paper. He would not say bank
able, but at least that amount could be collected
When asked il it was true, as some charged,
that the company had already expended 500. OOO,
he replied mo; DECIDEDLY We have not
spent half that amount" He also Informed his
questioner that nothing had ever been said oy
the directors about guaranteeing to any compa-
ny that would lay the trunk line of pine and
the mains in the city. gross or net earnings for
five years 1t is understood that the company
will be ready in a few days to proclaim Its plans.
and that shortly a financial statement Will De
made for the information OF the public, but 1t
may be that the latter will not be done until the
March meeting of the trustees
While the Trust is solving the problem OF
pipeline contracts the Broad Ripple companyis
getting ready to complete it's laying of pipe m
side the city. THAT will be DONE" SAID mr.
Westcott last night, lust as soon as the ground
will thaw sufficiently to permit digging We
have progressed rapidly as possible, ana
while we have not much pine laid, Somparatlve-
We have within the city was put under so
pounds pressure, which was maintained for two
and q half hours. The city engineer
has been made with the tile
works. and tomorrow night the natural-gas fires
there will be burning We have eleven wells
and propose to drill two more not that we need
them for we have more gas now than we can
get through our line, but IL is the beginning OF
extended operations. Ne propose to lay another
trunk line, and before long increase our capital
Then you feel satisfied with your invest
mantW was suggested.
s Had not thought it good one would not
have put my capital into it, When the Pogue
deal was about to be closed expected then to
take half interest with him. Later. when Mr..
Boardman proposed that should come into the
company. I held of on account of the first un-
derstandipg / had with Mr. Pogue. although I
had about decided to make the purchase. Be-
fore negotiations were concluded wrote to Mr..
Pogue, then in Denver, telling him of my proba-
BILE course and offering him an interest He
piled that his business affairs in the West and
other places were euch as to compel him to
fuse my offer. then made the purchase of
stock my own account"
Twill the organization remain as it isl"
There is no change except that my interest
allows me three directors Mr. Boaraman will
be the president and Mr.. Maus ths secretary
and treasurer / do not count on natural gas
,ioing the city much good unless the real estate
mo- avoid the error of putting property too
high. wanted to come here in 1872 but found
real estate values unreasonable that went
elsewhere To encourage manufacturers the
city cannot gain ANYTHING substantial by resort
ing to fictitious methods. do not have faith in
hooms. 1t is the natural development of resour
ces and advantages that makes prosperity
manent- The Broad Ripple company will follow
that policy"
Statue Joke