The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-04-14
SALE OF THE STREET RAILWAY.
A Report Colonel Johnson Will Not Talk About,
but Which His Manager Says Is Untrue.

It was reported last evening that the Citizens
street railway. of this city, had been sold to a
syndicate of Chicago capitalists, and that the
purchase price about $1,000, 900. The buy
ers Is reported are identified with the Chicago
City Railway Company Al option on the
property is said to have been secured some time
ago. and the last subscriptions needed to make
the option good were raised last Wednesday. The
purchase, it is said, includes a franchise for
a cable or electric motor, and it is the purpose
of the syndicate to make Of it in improving
the present roads. The deal, it is believed, is
the outcome of visit made to this city, about
fortnight ago, by E. F. Getchell. G. B. Holmes
and L P. Rumsey, of Chicago. and j. G. Schaef-
fer, of Richmond. The lattsr held the option
and. it is understood. made q. handsome sum of
money by transferring it to che Chicago syndi.
cate The new company, it is further said pro-
poses to cable about twelve miles of the road, at
expense of 81, zoe, 900.
II there is any truth in the report of the sale
it could not be verified here last night. Tom
johnson, who, with his INN mediate friends,
all but thirty shares of the stock involved,
is not in the city. Colonel johnson, the presi-
dent of the company, was in his room at the
New Denison, but fatty refused to allow any
reporters card to be sent up because he had
nothing to say.
WIN. r. Steele the manager of the company
was seen at his home North Delaware street,
and said so far as he was informed. there was
no truth IN the statement. III the ROAD naQ
been sold would have known 1t, he continued.
II left Colonel johnson at susper time and he
did not hint such thing TO me- am inclined
to think the story originated from the visit of
Mr.. Holmes. of the Chicago company, to this
city few days ago, but know positively that
during the visit of Messrs. Holmes. Getchell aud
Rumsey not word passed between them and
the Johnsons regarding the purchase of tie
road. l know is was reported at the time that
such negotiations we're on, and after they went
away asked Tom johnson about it. He told
me that the matter OF selling buying the
road was not mentioned The gentlemen hap
pened to be passing through the city and
they had never been in q nstural-gas city, Mr..
johnson volunteered to show them around,
which he did,
HAS any one had an option on the road7"
mo one has. far as know. 1t is unneces-
sary to conceal the fact that there has been
some talk of selling the road Gentlemen have
come Co us and told that shey would form a
syndicate for its purchase. but to nv knowledge
q pace has never been set feel confident that
if tire road has been sold Col johnson does not
know anything about it yet Tom johnson is
away. and what he might have done do not
know"
The statement In regard to this deal referred
to its inc udine the franchise OF the Cable-road
Company, Of which Col. w. w Dudley is presi-
dent. 1t is given ont that, through the
chase OF this franchise. the new company will
be able to improve the present plant The To-
cal representatives of this company have said
the franchise not for sale. and that it is the
intention of the company aold TO it, as 1t
was the purpose to construct she road