The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-04-25
THE ~STREET-CAR DEAL.
Many Stages Through Which 1t Has Passed
Developments Looked For.

It is expected that to-day something
of q tangible nature Will develop in the sll-
absorbing street-car deal. It is generally
conceded that where so many people are
cognizant of q thing. and especially one
that those most deeply interested want
kept secret. the entire contents will
leak out somewhere: there are prob
ably fifty men and q few women hanging
on to the rough edges of this deal. and yet
the true intent has been carefully guarded.
Thereisno doubt about the fact that a sale
of the property is about to be made; that
point is conceded by nearly every body.
Yet it seems a hard matter to get at. The
agitation In this matter began shortly after
Mr. Frenzel was appointed President A
statement was then made to the effect that
Frenzel, Shaffer, CORTLAND Van Camp and
others had secured an option on the
property. After the strike had
been declared the Journal published
an interview with a gentleman who
claimed that capitalists here, with Sbatfer
aud Frenzel at their head. had secured an
option on the plant. Mr.. Holiday. of the
News. was also mentioned as = % of
the syndicate. The next day Mr.. Holli-
days paper published interviews with
each of the gentlemen mentioned, all of
whom denounced the statement that an
option had been secured as utterly false in
every particular.
A few days later the Journal received q
United Press dispatch from ChIosgo to the
effect that Mr.. Shaffer and an Eastern syn
dictate had secured q 50, 500. 600 option on the
property of the Citizens S-treet-railroad
Company. and that the closing up of the
deal would be but a matter of q few days.
Then came the memorable struggle in the
County Commissioners court. when tho
Broad Ripple Rapid-transi Company and
Mr.. FrenZel, for the Citizens company,
fought for o right of way on Central ave-
nue.. 1t was during this controversy that
Mr.. Skaters name became connected with
Mr.. K l.. Belknap. of New York:
who appeared as the capitalist behind
the resurrected Broad Ripple enterprise.
Mr.. Shatfer did not at any time deny that
he was connected with the scheme. and at
the same time he was encouraging the
street-car employees to adopt o conservative
plan of action. promising them that all
would soon be WELL"
The Broad Ripple company. as all know.
was victorious in the fight before the
County Commissioners, and, even after the
Council had refused to grant it a city fran
chise. hled a certified check for $4,000 with
the county 10 complete the road TO Broad
Ripple from the city limits in q GER
tain time. After this not much
was said about the purchase Of
the Citizens company until O few weeks
ago, when the Journal became possessed OF
the information that negotiations were
pending. and that the road was about to
pass into the hands of the Shafier-Belknap
syndicate. Anent the reliability of what
has already been published concerning the
deal it 10 only necessary to- say that Mr..
Shaffer made two flying trips to New York;
hat DR.. Light, secretary Of tho
Broad Ripple company. was called
to New York by telegraph; that
upon the heels of that the articles of
incorporation of the indianapolis Street.
Railway Company. with q capital stock OF
81. 500. coo. were filed with the Secretary of
State; that President Frenzel and Secre-
tary Anderson were called 10 Chicago.
where all the directors. including Mr..
Shaffer. were holding a meeting: that at
torney Mason. of the Indianapolis Street
railway Company. was also called there
very suddenly the other day. and that Sat
urday morning attorney John II. Elam. OF
the Citizens company. went to the Windy
City in response to a telegram. Besides all
this, Mr.. Shafier has an option on the
Broad Ripple Park. and Saturday q syndi-
cate. in which the Eastern men are inter
ested. purchased thirty acres of land along
the proposed railway line. paying therefor
$4,000.
II know there is many q slip 'twlxt the
cua and the lip" said . gentleman. yester-
day. but this street-car deal has gone en-
tirely too far to fall through now"
The time set by Mr.. Shatfer. some time
ago. for a better condition of affairs. was
May l. That date has nearly arrived.