The Indianapolis journal., 1892-04-18
SALE OF STREET.CAR LINES
Looking Up the Franchises in the Rec
Ords Preparatory to the Transfer.
Purchasers Expected to Take Hold of the
Property This Week-Shaffer Syndicate
Buys the Broad Ripple Park.

New Developments in the street-railroad
deal point to the fact that it will be closed
up Wednesday. Mr.. j. G. Shaffer will re-
turn from New York tomorrow evening,
and 1t is said that on the following day
that portion of the transfer that has not
already been made will be consummated.
DR.. Cal Light secretary of the Broad Rip
pie company. has not yet returned from
New York, whittier he was called last week
by telegram received from Mr.. Shaffer.
Secretary Light received his telegram the
day before the Indianapolis Street-railroad
Company filed its articles of Incorporation.
This fact is looked upon as being significant.
One thing that maks it appear that some
thing definite will take place in a day or
so is what occurred yesterday. Two or
three times during the day the clerk of
Augstus l.. Mason, attorney for the new
company. made flying trips to Deputy
Auditor Dora Johnson's residence, but
failed to find him until along toward even
ing. Then both journeyed over to the
auditors office. and by the fickering rays
OF a gas light, went through lot of musty-
looking documents
All the franchises and grants that have
ever been made by the county to either the
Citizins' Street-railroad Company or the
Citizens Street-railway Company. the name
of the corporation when 1t was owned by
the JOhnsOns. were gone over carefully.
The object of Mr. Mason's clerk was to as.
certain If all these grants and franchises
had been made to the Citizens street-rail-
road or street-raiiway company. as the
case might be. their heirs and assigns.
This was found to be the case. and the
lawyers clerk went away satisfied.
The Indianapolis Street-railway Com.
hUa enDa nk
doubt, that when 1t purchases the prop
road road COMPANY Company It 81. viii also come
pretty conclusive proof that tho purchase
contemplated is an out and-out one, for il
the Citizens' company directors were to re-
tain q controlling intercst It would not
matter to those interested in the new COM
pany whether the franchises were granted
to the old company. its heirs and assigns.
or not. Whether o limited amount of time
In which to transact certain amount of
business compelled the new oompany's at
tOrney to look up the records yesterday
evening, or whether IL was done on that
day from a desire to keep the matter from
the public, is not known.
1t has Just been ascertained that the Fri
day before Mr.. Shaffer went to New York
the Broad Ripple park. at Broad Ripple,
was purchased from Mr. Busohman for 81
600 cash, u, m Mr. shatfsr became bee % one-third
have no use for this park unless he ex-
pected to build an electric street-railroad
TO Broad Ripple. This fact, taken in con-
ncction with the filing of a certified check
for $1,000 with the County Commissioners
and the 81 1900 In cash paid for filing the ar
ticles of incorporation OF the Indianapolis
Street-railway Company, is In itself con-
elusive evidence that the deal Is to 60
through.
Lost evening n Journal reporter talked
To a gentleman who is in n position to
know as much as any other man in the city
about the deal Said he: "Mr. Shaffer Will
return Tuesday evening and within q day
or so thereafter. possibly the following
day, the deal will be contaminated. /
know this to be fact. The thing has
gone too far now to fall through"
What connection has the Indianapolis
Street-railway Company with the BeIknsp-
Shatfer syndicatef'
why. it is one and the same thing. Mr..
Leonard. president of the T., Z. 81 w.
road, who appears In the articles Of in
corporation TO he chief stockholder in the
indianapolis Street-rnilway Company, is q
personal friend of Mr.. Bolknap, and they
work together. 1t was not the intention
until the transfer had been made. They
were filed In order that the transfer of the
property of the Citizens company might
be made In legal manner"
What Is this talk about bonds and
about the Citizens company still retaining
control after the deal goes through"
lit is all bosh, The sale will De o bona
fde one. and the property will pass entirely
out of the hands of all the present owners.
except. perhaps. Mr.. Shaffer. One day last
| week y meeting was held IN Chicago, at
which Director Allerton WAS present. On
the same day the directors met In Chicago.
wonder If any body can tell me why Pres
| ident Frenzel took Secretary Anderson and
| attorney Winter to Chicago with him.
| There Is only one reason that l can see.
| Secretary Anderson Was taken there to
| sign papers in his official capacity
| The street-rai;road sale is the subisct of
a great deal of interest among people in
| general not alone from the fact that il will
| involve about S3. .C00. eco, hut because of the
many changes IL will bring about. The
sentiment is general that the new company
will build complete electric sy stem as
| soon as it can be done.