The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-11-28
NEW STREET-CAR OWNERS
Mr.. Shaffer Says They Will Put in Many
More Electric Lines.
Will Build to Garfield Park Early in the Spring
He Will Not Manage the Property
LEGAL Capital in 1t.

ol01 80
purchasing the property of the Citizens
This syndicate is composed of III. Sellers
Mckee. Murray A. Werner and others, of
Pittsburg. aud. what has not before been
known, of several Indianapolis gentlemen.
Just who these local capitalists are Mr..
Shaffer does not wish to state. as
1t Is still q matter of private con-
ference among the gentlemen interested.
Some Indianapolis man, however. will
be president of the corporation.
and will rave the active management of 1t.
This is upon the authority of Mr.. Shafier,
but the man. he says, has not get been de-
cided upon. The Indianapolis men who
will take part of the stock will no doubt
be among Mr. Skaters intimate frlende.
Among them are Mr.. L. +. Haughey, Major
Richards and Charles +. Coffin. This city
Will be represented on the board OF d.
recsors.
The price paid for the property was
g. $50. OOO-S15O q share for the stock and
81, 100, coo for the bonds. The most interest
ing part of the big transaction TO Indian
spolis citizens Is the ~announeemens
as rapidly as possible into rapid transit,
aud early In the spring IN electric line will
be built to Garfield Park. One OF MIR.
Skaters ideas is TO build an electric line
on Pennsylvania street TO Virginia avenue.
down that thoroughfare to Shelby street,
and on out TO Garfield Park. Information
like this will be as balm of Gilead to the
average Southeastern, who has I'm pressed
himself with the fact that he has for years
been Disseminated against
Mr.. Shatfer was seen at his home last
evening. and had the following to say
ebout the deal:
Tho negotiations for the purchase of
All. -l.e hu A.. III Saltnra NtIna nn6
Murray A. Werner, of Pittsburg. began
Thursday n week ago. At this time 1 In
troduced them TO the stockholders In Chi
cago and a price was agreed upon tor the
purchase of the stock and q sum Of money
was deposited with the Illinois Trust and
Savings Bank as earnest money or a
guarantee on their part to purchase so per
cent. of the stock or all OF 1t. and they pre-
is1rsd to buy all OF 1T 4 all the
days after thIs Mr.. Allerton was
led to believe that certain things could
be accomplished here. and expressed his
desire to the stockholders To purchase the
property himself. The stockholders were
disposed TO sell their stock to Mr.. Allerton.
but, after talking the matter over with q
number of the stockholders and his per-
sonal friends. Mr.. AllertOn concluded that
be did not care To purchase the property,
and on Friday last agreed TO sell his stock
also TO Messrs. Mckee and Werner and their
associates. i was in Chicago at the time.
and wired these gentlemen to meet me Sat
urday morning In Chicago, which they did.
They had q conference with the directors.
some of the larger stockholders also being
present. and aboutS so per cent. of the stock
was then delivered to Mr.. j. j. Mitchell as
trustee for the stockholders. and an agree
ment was then entered into by which
Messrs. Mckee and Werner and their asso-
cistes purchased this stock and agreed
that they would buy all the stock. If pre-
sented. at the same price.
mir. Mckee is a wealthy gentleman of
Pittsburg. he 10 president OF two of the
large national banks there, and also presi-
dent and owner of q large glass factory,
possibly the largest In the United States.
1t makes all kinds of glassware for the Ia
Bile. etc., and also plate-Rlass. Me. Werner
Is also q wealthy gentleman of Pittsburg.
and has been associated with street. rail-
roads for many years. His father built the
first horse railway west of the Allegheny
mountains, in Pittsburg, and as the city
now q wealthy gentleman. but retired from
active business. These gentlemen are
active and aggressive in their
enterprises, and Indianapolis is fortu:
with its interests in this enterprise.
They are thoroughly convinced of the
practicability Int usefulness of electricity
as q motive force and will begin as soon as
they get complete possession of the prop
erty 20 equip all of the principal lines
electrically. They have already been ad-
vised of the desire of the people of Indian
Rpolis for electric roads on the South Side
and an extension of one of the lines TO Gar
heid PARK, and they will satisfy that de-
sire in the early spring. They also have
been advised of the fact that Indianapolis
is to entertain the Grand Army OF
the Republic encampment next fall,
and they will make ample preparations to
give such street-railway facilities To the
invited guests and their friends as Will
make every indianapolis citizen feel proud.
They are liberal men in the broad sense,
and / earnestly trust that they will be
given q cordial and hearty welcome by the
citizens. They are the principal owners In
the street railroads In Buffalo and ROches-
Ter, n. y. and have large interests in Pitts.
burg and other cities. They are practical
s~treet-railroad men, and are deserving of
liberal treatment on the part OF the CITY,
and | feel quite sure they will receive 1t.
They will not come into possession
of the property for some little
time. but the Preparations for
will be begun immediately A number of
Indianapolis gentlemen Will be associated
with them and will be also members of the
board of directors"
.WilI You be presldent?r Mr.. Shaffer was
asked.
mo, / nave no desire to be president of
the road. / have other large business
interests that will occupy my time CON-
pletely. / leave for California next week.
enA III wv - - Altf1 VA VIZ INV n
the spring l expect to begin the building of
an electric railway from Asbury Park to
NortbpOrt, n. j., going through the % u OF
Deal Beach, Elberon. Long BIanch and
Pleasure Bay. The President of tha road
here will rave to be on the ground ontln-
ually because of the large amount of new
construction and the reconstruction of
horse lines and equipping them cleo
trically.'
A good deal of speculation Is going the
rounds. now that il is absolutely known
that the lea has been contaminated as to
what will he done with the present officers.
President Frenzel, of course. has senti in his
resignation. aud il will be accepted without
any pressure being brought TO bear upon
him TO withdraw ii. This Office will have
10 be filled, and as the new owners are
practical street-railroad men they will no
doubt want a practical street-railroad man
TO serve as president. As he is TO
be an Indianapolis man it is popu-
larry supposed that the ex-super-
intendent of the company, w. L.
Steele. Will become president Ii is not
thought that A. A. Anderson. secretary and
treasurer of the company, will be allowed
TO remain, but no one is spoken of for his
place.
The friends of 7. p. Haughey have what
they call a good joke on him. Yesterday
morning the Sentinel announced that he
was the most likely man for the presidency
of the road. Yesterday afternoon Barney
Foulke. a florist. whose place is near Mr..
Haughey's residence. and who had read the
Sentinel and believed IL. prepared a mag
nincent bouquet of roses. across
which appeared the words For the
president of the Citizens Street-raiiroad
I. ~ - " A. I~--l