New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-21
WESTERN BUBBLE BURSTS
WORKMEN CLAMOR FOR PAY.
VISIONS OF GREAT ELECTRIC RAILWAY SYSTEM
VANISH WITH ITS PROMOTERS-wIND AND
NERVE MOVE MOUNTAINS.


INDIANAPOLIS Aug 2O.-The Chicago and Central
Indiana Electric Railroad Company, which had ito
Offices at Noblesvlle. has gone TO pieces and the
promoters have left the country. The collapse came
Yesterday when demand was made by the cohuactors
ard employees engaged in grading that the company
give a guarantee Of its ability to pay. The company
was unable to make the showing demanded, the WORK
OF construction came to standstll, ana moved py
the threats of the the promoters OF the enterprise
hurriedly took the first outgoing train The moving
spirit in the scheme was F. J. Pennington whose
unsuccessful effort to float airsh!p at Mount Car
mel Ill., gave him a notoriety that was natiopai ana
caused him to be listed among the cranks.
Pennington had not dollar Of capital. but upon
pure wind and by the force Of nerve he started
out to build and equip 400 miles OF electric roan'
which to connect Chicago by the way OF Lafayette
with the principal cities OF the Indiana gas beis
Noblesville T1pton Kokomo Anderson, Muncie. Ef'
wood and Marion the principal gas-belt cues
that Penrington's scheme embraced, besides when
there we're to be branches extending to Fort Wayne
Logansport and indianapolis The plan also included
the operation OF electric railway plants In the severat
cities embraced in the system. The expenditure
necessary was computed AZ l0OO0 900. but the mag.
uitude OF this sum how II was to be raised does
not appear to have worried Mr.. Pennington for an
instant. As he got into water that was deeper anu
deeper and as demands became more clamorous tnao
he make a showing OF assets, he would give sucu
limited capital that the credulous were convinoeo
against their judgment. while the skeptcal were
amazed When the collapse came Pennington pao
secured Franchises at Noblesville and Upton, nao
opeped out Offices on a splendid scale, and had en-
Moved about twenty teams and fifty shoveuers Tor
period OF three weeks. without, so far as can %
learned. the expenditure OF a cent
Pennington also introduced at Noblesvflle as the
nres jdent OF the road Thomas Wilkinson, an
ouepod Englshman who he said, had been tno
agent OF the English Government on the lsiand OK
Madagascar for twenty years. Wilkinson he repre-
s.nted a. being fabulol>y rich, and he declared
that he had bought 81 2OO.OOO worth OF the STOCK
of the company. Pennington also represented that
IN was the inventor of an electric motor wnlch dlo
AWAY with the overhead wire, which motor was
manufactured at Chicago a large scale, ana WHICH
be proposed to use In propeing his cars. in'
yestigaton proved this story TO be pure iaoncs'
,ion .s WAS also his claim OF Chicago and Pennsy'
vani, backing Unless the claim that WILKINSON
was a man OF wealth is true. there was no money
whatever behind the enterprise. The first ana
second vice-presidents men Of no hnanciai
standing. c. A. steele and II. T. wilkinson, who
appear respectively on the official roster OF Penning'
~ The Farmers and Merchants Bank at Mount
carmel one of The Dwiggns a strbucx concerns
that recently went Ia the wall. y. ID. PonIins'
tbe secretary /, entirely unknown ana PennnK.
I'm tis civ he was served with writ Tor taiior's
lin several wears old but was released because no
had no means. Just what Pennington purpose wss
i'm Attempting such unheard-of undertaking Is ny
sarnrr any subsidies. one theory Is that ne y