The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-04-27
DEAL CLOSED WITH M'DONALD.

Fort Wayne millionaire Steps Into Control
of tho Citizens Company.
There is no longer any doubt that r.
T.. Mcdonald, the Fort Wayne capitalist.
has purchased for himself and associates q
large. if not q controlling. interest In the
Citizens Strest-railwsy Company. The
deal was contaminated yesterday after
noon in the little back room of the Indiana
State Bank. At that time the resignation
of Richard C.. Clay was accepted as q di-
rector of the company and Sterling Il. Holt
was elected In his place. Mr.. Holt repre-
sents the Mcdonald interest. and will act
in the future by the direction of that
stockholder. Tho foregoing statement
does not come wholly in the nature of q
surprise. An unverIiied statement of the
deal was made April Is. in the local col
umns of the Journal. and while 1t had not
been verified since, it had come to be more
than q possibility.
At the time when Mr.. Mcdonald. then
supposed to represent only a deal Ito put q
road through to Broad Ripple, telegraphed
to his confidential agent in this city that
he would not bid on the charter offered by
the city, the deal at its inception. The
negotiations which began then had their
successful termination yesterday. Mr.. Nc
Donald has declined to state just what
representation he will have in the COM
pany. There can be no doubt. however,
that 1t is q large one. Mr.. Mcdonald az
the manager Of the Jenny Electric Light
Company at Fort Wayne has most intimate
relations with the Thompson-Houstnn
company. which now controls the Fort
Wayne plant.
They. with Mr.. Mcdonald, own and con.
troll large interests In New Orleans. Detroit
and several other cities. The entire street.
railway system of the first place u owned
by them. and they own similar properties
in other places. lie Is. therefore, reasonable
TO suppose that the Thompson Houston
company is back of the present deal. and
the fact is not denied by those who are
connected with il. Mr.. Mcdonald has as
ISOLATED with him In the project q number
OF local men. prominent among whom are
Sterling X. Holt, Hiram Miller, II. {. Light
and Leon Bailey. The first named has
been elected u director of the company to
guard McDOnald's interests. and the others
will not serve In any official capacity.
The arrival in the city at the same time
of Mr.. Mcdonald and the Pittsburg stock
holders of the Citizens company had q
Suspicious look, though at that time. Tues
day morning. each denied that there was
any connection in tho coincidence. No
word passed between the two until yester-
dav morning. when Messrs. Mckee and
werner wore UEiNcu w tuc bStCs tlOtcl,
where Mcdonald was stopping. in a closed
carriage. A conference between them
lasted for over an hour. and they then ad-
icurned 10 the private office of the Indiana
State Bank. There the papers were signed.
and the deal was closed. Both the
P%itfsburv gentlemen and Mr.. Melon aid
left the city at 3 O'clock in the afternoon.
The former returned home. and the latter
went TO Detroit.
MIR. McDonald's local associates say they
do not know whether or not thu stock pur-
chased by Mcdonald Is q majority. but they
say that be- Will practically dictate the
policy. He himself declined to talk on the
subject before leaving.
The account of the company was at cnce
transferred from the Merchants National
Bank to the State Bank. of which Mr.. Holt
- president This time the check was
technically correct. and 1t produced the
currency at once.
The first fruit Of the deal will be the con-
struction of tho Broad Ripple line at onco
TO connect the park with the city. Ire
park and county franchise. owned by BIC.
Donald. formed q mall part of the consid-
GRAFTON IN the deal.
MI. Leon bailey. who was interested IA
attorney In the Mcdonald nc~gotistions