The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-11-12
WHAT THE SYNDICATE WILL DO.
Some Changes in the McNeal Ordinance De-
sired by the Eastern Capitalists.

Lathrop <. Bacon, representing New York
capitalists who have become interested in the
McNeal electric streetrailwsy syndicate, visited
the city yesterday, stopping at the New Deni-
son. In brief conversation with Journal
reporter just as he was preparing to leave by
the o'clock train, Mr.. Bacon said: az have
come here at the special request and in the in
tsrest of Mr.. McNeal to look the ground over.
As matters stand at this time, though / am not
prepared to state exactly what our action will
be-"
"Then there is some doubt to your accom-
plishing the enterprise, / supposed"
I'VE have not fully determined On its prose-
cution, but this is only because We have been
"How have you been impressed with the re-
suits of your present investigationP
Very favorably indeed. Every dollar of the
capital necessary was subscribed before / left
New York, subject to immediate investment
on my approval. As far as the road is concerned
[ am convinced it must succeed Our
action is entirely dependent upon some
changes and notifications in the Council ordi-
nance. which must be made before we lake
another step. We want them to state precisely
what tax will be levied upon Us. Before that is
done investors cannot be expected to invest
their capital here AS soon IS these changes are
made by the Council as n permanent guarantee
OF conditions that we can count on, the work
will be commenced"
The reporter then had talk with Mr. McNeal,
who came MP as Mr.. Bacon was leaving. do
you think" he was asked, "that the syndicate
will probably prosecute its designs as originally
planned2'
THAT is somewhat difficult to say" Mr.
McNeal replied. "Of course, we are constrained
TO the South-side lines and don't ask any
modification of that But what we are consider
ing now is whether We can guarantee our cap
ital 6 per cent. on its investment"
us there anything new in the situation be-
tween yourselves and the Citizens company
Nothing In the legal status Of the outlook.
We expect, OF course, some radical opposition
to a radical Improvement of this kind. All we
desire is a modification of the odds against Us.
so as to reduce the opposition TO q minimum.
Everything points TO the success of our system.
We have just purchased horselne In Scrau-
ton, Pa, where the conditions were at first
similar to those here, and successfully convert
| ed it into elsctric line under the Spragus
| system, which is now in operation"
"Sbould you secure the concessions asked
| from the Council. how long before you will be-
| gin the construction of the line2"
1--WE will 20 forward instantly when we get
| fair show. We know just what it costs to build
| road of this kind. and must have per cent
assured on stock. One of the principal things
| which cause us to hesitate is the burden the
| Council imposes in requiring us to light the
| streets at $50 per lamp with the identical lamp
| for which the Brush company is to receive $50.
| We appeal to the public to judge of the fairness
OF such a requisition."
| "Does the cost of constructing your road diff
fer materially from the ordinary horse-lineF
| lit is about 40 per cent. heavier in first cost
| But the economy Of administration, the electric
al people claim, amounts to nearly 80 per cent I;
but even scaling that, there is still a safe mar
| gin on the additional investment One thing
| you can be sure Of We will have conductors on
| every car"
| "How does the speed attained by electricity
| compare with the usual one?"
| at is limited to nine miles an hour. It would
| not be safe to exceed that We will average
seven to eight The great advantage of an cleo
trio street is the precision with which it is
| stopped and started. This saves an immense
| amount OF time ever that consumed on other
lines in transit of several miles, with the usual
| number of stops"
| GLOW is the current carried to the cars7n
| by an overhead poleand-line construction.
| The wire carries q current of about 10 volts,
| which is received into small steel wheel rum
| ming upon il, parallel to the car and connected
| with it by a wire."
''You think the probability is that you may
| succeed here2"
| I'VE have been in earnest from the beginning,
| and 1t was only when We ran square against the
| tree that investors would not take hold. While
| we have every confidence in the public now
| we do not know what the effect of the future
| may be upon the city's population, and do not
care to place ourselves in the hands of ANYTHING
| we cannot see. But, with the conditions fair,
| and their permanence guaranteed, we will go
| ahead and put in the road, and light the streets
| we run through better than they have ever been
lighted"