The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-12-03
RIPPLE PEOPLE HOPEFUL
They Think the New Street-Car Deal
Means Their Line Will Be Built.
Story of How Frenzel Was q Few Hours Late
and Missed Connect Ons in Buy
ing the Plant.

DR.. Cal Light, of Broad Ripple, and
William Bosom, of the Bank of Commerce,
ere anxiously scanning the pages of Q
county atlas when a Journal reporter en-
tered the bank yesterday afternoon. Asked
conserving the prospect for an electric line
to Broad Ripple IN the spring, DIR. Light.
who was secretary of the Indianapolis and
Broad Ripple Rapid-transit Company. said:
Il believe we will get o line to Broad
Ripple in the spring. We are expecting
that mnch. The other day q man wanted
to buy my park at Broad Ripple. offering q
good figure. but l refused to sell it.n
Have you had any direct assurance that
the new management of the Citizens COM
pany will do anything for youi"
mo; we have not been given absolute
assurance of that fact. The fact is l am not
at liberty TO state just what i do know
about it at this time"
Yesterday a Joornal reporter ascertained
o few facts about the recent street-railroad
negotiations that have not heretofore been
published. and which are not calculated to
make President John =. Frenzel take a
great deal of pride in his own acumen. The
story Is told by a gentleman who claims to
be on the inside aud in close touch with
existing facts.
I'm the first place." said he. latter the
talk about the sale OF the street-car prop
erty died down several month ago, Mr..
Frenzel was the first man to resurrect the
negotiations. He scraped together q syndi-
cate composed of some local capitalists,
whose names have so far not been men,
toned in the deal. and O few Eastern men,
and set about to get hold of the property.
In bis preliminary work he was highly
successful. He enlisted Samuel w. Aller-
ton, q large stakeholder in the company,
on his aide, and that gentleman agreed to
secure q controlling interest In the stock
and give Frenzel An option on il
for his syndicate. This he did;
or at least an agreement with the
other stockholders was entered into to that
effect. and when FrenZel came back from
Chicago the other day and stated so posi-
lively that the deal would soon reach o sue
cessful Issue, he had In mind not the Shat
fer syndicate, so-called. but his own which
held an option from Mr. Allerton.
I'm the meantime. Augustus l.. Mason.
who was a year ago the attorney for Mr..
Belknap. OF New York, when he was hgur-
ing on the property, ran across III. Sellers
Mckee and Murray A. Werner, of P~ittsburg,
and introduced them to Mr.. J. c. Shaffer as
possible bidders for the street-car property.
The latter, of course. was perfectly well
aware, by some occult means, of the Fren.
eel negotiations. and be entered upon the
combat with q zest. He at once secured an
Optiou ou tuo pIOpcIbt, uiCu Ook pIcCo-
denoe over the option gwen to Mr.. Allerton.
and when Frenzel came back from Chicago
and talked 30 confidently about successful
Issues etc.. he at once went to Chicago.
insisted upon his option standing good. and
closed the Zeal. Frenzel and his crowd
hoped against hope until 5 O'Clock of the
day on which the deal was consummated
with Shafier. as that was the hour when the
option gwen him by Allerton expired. Ii
was a couple of hours later on that even
ing that Frenzel sent in his resignation.
This was one time when Frenzel was a lit
tie too confident. and. i might say, a little
too greedy. He could nave closed the
deal had he managed things properly. but
he wanted to shape the matter so he could
realize n handsome commission for con-
Quoting the sale. and, by procrastInation,
allowed Shaffer to get in ahead of him. Mr..
Frenzel doesn't look with pride upon the
figure he cut in the matter. / can tell you"
Messrs. Mckee and Werner, the new
owners, are expected In this city before
long to map out the work of extension and
Improvement that Will begin early in the
spring. and, possibly. to select q president.