The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-04-21
THE sTREET-RAILRoAD SITUATION.

Gullty men are In CUSTODY.
THE STREET-RAILR0AD SITUATION.
The latest phase of the street-railroad
situation is intensely interesting and
full of important possibilities for the
city. The only disturbing feature is the
fact that the granting of charter to
the Elliott company will probably be
followed by prolonged litigation. which
will cause delay in badly needed extern
siOns of rapid transit. There is reason
To believe that the Citizens company
will fight to the end for what its officers
claim to be its rights under the existing
charter, and legal contest of this sort
can have no other effect than to prevent.
while it is pending. extension of electric
transit. But whatever disadvantage or
temporary loss may result from this de-
| lay will, the Journal believes. be more
than overcome by the ultimate benefits
| the city will receive under the terms
offered by the capitalists represented by
Judge Elliott.
The extremely liberal offer made by
Judge Elliott in behalf of a syndicate,
whose membership is not yet an
nounced, for thirty years franchise,
has astOnished everybody. "What do
these people mean," has been repeated
~ asked. "by offering to pay the city a
percentage on their gross receipts. which
| will amount to more than $4,000 in
| cash during the life of the charter. be-
sides accepting other binding condi-
| tions?" 1t simply means that they are
| informed as to the enormous value
of the franchise and that they are pre-
pared to make the city this munifcent
offer with the full consciousness of all
| it implies and the assurance that they
will still reap handsome profit on their
investment.
After having made careful inquiry in
regard to the syndicate represented by
Judge Elliott, and it's plans and inten-
tions in case the city accepts its present
| offer, the Journal is able to assure it's
readers that the syndicate has abundant
word knows what it is about. 1t means
business. Its bid is bona fde one 1t
is able to furnish the requisite bond
and to guarantee the execution of all it's
contracts. 1t is composed, in large part,
of local capital interested in the advance
ment and growth of the city. 1t hasnot
only money but brains. It's members
| are fully informed as to the profits of
| the street-railroad business, and they
have confidence in the future growth of
indianapolis. Having satisfied them
| selves of the value of the franchise
which the Board of Public Works was
offering for sale, they determined not to
haggle over details. but to make at
once an offer large and liberal enough
| to prove their good faith and command
instant approval. This they have done.
Their bid Is probably the highest and
| best ever made for o street-railroad
| franchise in the United States. and will
doubtless prove as great surprise in
other cities as it has here. But the lib
crafty of their offer need not beget
| to make it good or to live
up to the terms of the charter
| If granted. On this score the Journal
| reiterates it's assurances with all posi-
BILE emphasis. AS further result of its
| inquiries it will add its confident belief
that if the bid of the new company is
accepted it will be followed in the short
est possible time, after getting possess
sion of the streets. by tho extension of
electric lines throughout the city and
the early completion of the best system
of street railroads in the United States.
1t is to be hoped the Council will APP
prOach the consideration of this question
in large and liberal spirit. There is
no room for personal pique or prefer
| ences. The charter is not in all respects
is an exceedingly good one for the city.
The Journal is decidedly of the opinion
that the Council should ratify the con-
tract without delay. Not to do so will be
serious mistake. Of course the
first impulse of the Citizens
company. and most natural one,
will be to fight for it's life, and as first
move in that direction il will try to pre-
vent the ratification of the new contract
by the Council. 1t is to be hoped the
Council will understand that the people
expect it to do its duty and that they
are watching it.
The Citizens company has large
interests at stake, and will fight
for them. In the opinion of the
Journal it made an irretrievable
blunder when it did not outbid the
Elliott company. Whatever offer the
Elliott syndicate could afford to make,
the Citizens company could afford to
make better one. It's failure to do SC
shows it was not on the alert. 1t is q
disputed question whether its charter
expires Jan. Is, 1894. or runs seven years
longer. In the most favorable view OF
the case they have only seven years to
operate a property which cost them
$3.50, 600. and they will have to litigats
for that. 1t looks very much as if they
had rested securely i'll the belief that
they were masters of the situation, and
that there would be no bids for the
| franchise Ii thew wake uD next wear