The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-04-15
1T LOOKS LIKE BUSINESS
Indianapolis Street-Railway Company
Files Articles of Incorporation.
Will Absorb the Citizens mpany-Capital
Stock of ST. 500. O0O-Sams Amount to Be
Expended in ImprOvements-The Sale.


italists. Yesterday morning. at II o'clock.
Augustus L. Mason, the attorney of the In
dianapolis 81 Broad Ripple Rapid transit
Company. filed with the Secretary OF State
articles of incorporation of the Indianapo-
lis Street-railway Company. with capital
stock OF 81. 100000.
This in itself 10 very siRnifcant Mr..
Mason has been the attorney of the Broad
Ripple road ever since the tussle In the
County Commissioners court over q
right of way began. Mr.. j. c. Shaffer. who
has been negotiating the deal. has been
IN New York several days and day before
yesterday DR.. Cal Light. the secretary of
the Broad Ripple company, was called to
New York on the double-quick by tele-
gram either from Mr.. Shaffer or Mr.. Bel.
KNAPP. president of the company. DR..
Light arrived In New York about o'clock
yesterday morning. and at IL o'clock. five
hours latter. Attorney Mason filed the
articles of incorporation. 1t is supposed
he received telegraphic instructions from
New York about what action to take.
The articles of incorporation are not
very lengthy. The capital stock is 81. 500 900.
divided into 500 shares of 500 each. lt
10 stipulated that at any time this amount
can be increased to So. 900 by q
vote OF the holders of a majority
of the capital stock. The Indianapolis
Street-railway Company is to conduct Its
operations in Indianapolis and it's suburbs
and vicinity. 1t il further stipulated that
the board of directors shall consists of i've
members. The names of the directors are
Edward +. Leonard, John w. Bunn, Ed
win N. Armstrong. Enos ID. Usner and Au-
gustus l.. Mason. These FIVE directors own
$4,000 worth of stock. Edward <. Leonard
taking $1,000 and the Others 500 each. The
address of the directors is not given.
This amount of stock had to lac subscribed
before the articles of incorporation conld
be filed. The intention was to keep the
filing of the articles profound secret, but
q clerk in his office to the office of the Sec
rotary of State. at II o'clock yesterday
morning. to file them. He had with him
81, 502, the amount necessary to pay the
bill. and handed il over to Deputy Secre.
tary King at the Same time requesting that
the matter be kept quiet for few days.
because the company did not want the
newspapers to get hold OF the facts ana
publish them prematurely. 1t SO hap
pened. however. that q re porter for an aft
ernoon paper was III the Secretary's office
at the time, and hardly had Mr.. Mason's
clerk left the State-hOuse until he was
porting over the articles of incorporation.
WHO THEY ARE.
Although there was nothing in the arti-
cles to designate where any of the IN
corporators live. except Mr.. Mason. some of
them are W eil-known. Edward +. Leon
ard. president of the Toledo. Peoria Il
Western Railroad Comp any, is one OF the
best known railroad men in tho West. and
Ia worth considerable money. He resides
at Springfield Ill. Edward N. Armstrong
is superin tendent of the T.. T. n w. road.
also residing at Springfield, while Mr..
John w. Bum Is connected with 1t IN some
other capacity. Messrs. Leonard. Bum
and Armstrong were In the city yesterday,
C. W. Fairbanks's Office. Yesterday
afternoon late Mr.. Leonard left for New
York city. where he will confer with
Messrs. Belknap. Shatfer and Others. The
fact that any Western men at all except
Mr.. Snaffer. were connected with the deal
for the purchase of the Citizens company
was a surprise to many who have been fol-
lowing with interest the JOurnAps articles
on the sale from time to time. Several
likely. when the consolidation was made.
that the name of the corporation would be
changed from that of the Citizens Street.
railroad Company, which to many people
be no doubt that the same moneyed
interests that have been behind the Broad
Ripple company for the past few months.
through the intercessiOn OF Mr.. Shafter.
are now identified with the new Indianap-
oils Street-railway Company. Mr.. Mason
is the attorney for both. Last evening Mr..
Leonard left for New York, close upon the
heels of Secretary Light, of the Broad
Ripple company. Mr.. Shaffer is In New
York. The most plausible explanation for
the filing of the articles or incorporation ct
this time is that it was necessary from a
legal standpoint for the company to be
Incorporated under the laws of the State
before the transfer of the property of the
Company was made to 1T.
A Journal reporter tried to interview
attorney Mason yesterday afternoon re-
garding the new phase matters have taken.
but Ii was useless expenditure of energy.
Mr. Mason. though courteous. refused TO be
intery iewed. He does not deny that tho
sale is TO take place, but he says he doesn't
believe anybody knows just when 1t will
occur.
DO the gentlemen named in the articles
of incorporation compose straw direct
oryY" he was asked.
Mr.. Mason laughed. II don't know"
said he Il am q straw director certainly"
After voucbsafing the information that
the deal has not actually been cOnsun-
mated yet, the attorney said that what he
knew about tho matter came TO him pro-
fessonally. and that fact effectuaily scaled
his lips Why the names of Mr.. Belknap
or some other of the gentlemen known to
be in the sy Indicate organized by Mr.. Shat
fer do not appear in the articles can only
be surmised. If either Mr.. Leonard. Mr..
| Armstrong or Mr.. Bum have ever before
been Interested in street railroads the fact
| is not known. Mr.. l.. w. Fairbanks was
asked last evening by Journal reporter if
| he was any way identified with the deal.
He said he was not; that he knew Messrs.
| Leonard. Armstrong and Bum person.
| ally. and they had simply paid him
visit at his Office whlle in the city. Mr..
| Fairbanks however, said he had received
an mixing Wednesday evening that the
| articles OF incorporation of the new COM
| papy were to be filed yesterday.
Mr.. Leonard. while In the city. is reported
| to have said that it was the intention of
the Indianapolis Street-railwav Company
to set aside 81. 800. o o with which to improve
| the street-car system of the city, and con-
vert il into rapid transit.
An effort was made to see President
| FIeBzel yesterday afternoon. but it was
| ascertained that he was out of the city.
! Where he had gone could not be learned,
but the snppOsltlon Is that Chicago was
| his destination when he left the city.
| Nothing has been heard from Score
tary Light since he started for New York.
Nothing has occurred for long time
that has been such universal topic OF
conversation in this city as the proposed
sale of the Citizens company Most peO-
| pie look upon the prospect favorably, as
they believe that under new ownership
| extensions would be made. rapid transit
put on and the system and service general
| Iy improved.