The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-09-06
OFFER 100000 MORE
BROAD RIPPLE COMPANIES BID FOR
EXCLUSIVE FRANCHISE.
willing, 1t Is Claimed, to Raise the
City Company's Concessions q
Half Million Dollars.

Yesterday morning Lewis c.. Walker, rep
resenting the Indianapolis & Broad Rip
pie Rapid Transit Company, appeared be-
fore the Board of Works and left the fol-
lowing proposition on the street-car Ques-
ton:
1.-The indianapolis & Broad Ripple Rapid
Transit Company, being anxious to secure
the city of Indianapolis, and believing it to
be for the best interests of the public that
such right be granted, respectfully submit
to your honorable board the following prop
osition:
Il. If the city will grant to the Indianap-
oils & Broad Ripple Rapid Transit Conn
limits of the city to Washington street. on
the same terms as provided in the fran
chise known as the City Railway franchise,
1 Trsni lndi eompany x viii 1 accept Tii II and S earsH
the people to the park Of the ompany at
Broad Ripple for the sum of 5 cents.
80. The Indianapolis 81 Broad Ripple Rap
id Transit Company begs to submit to said
board a separate proposition on the subject
now under consideration by said board, and
as follows: If the Board of Public Works
and the City Council will grant to the In
dsanapolis & Broad Ripple Rapid Transit
Company a franchise to all the streets of
the city and the rights heretofore granted
to the City Railway Company, to take eff
feet at the time of the year 1901 when the
franchise now held by the Citizens Street
Ripple Rapid Transit Company will accept
such franchise on the same terms as We're
Incorporated in the franchise granted the
the burdens and conditions imposed by the
terms of said franchise to said City Rail-
way Company, the indianapolis q Broad
Ripple Rapid Transit Company will perform
Ali the Agreements provided for in said
franchise to be performed by SAID COM
pany, and will, as soon as given the full
possession Of said streets, under said fran
chise. pay to the city an additional sum of
five hundred thousand G5oo,ooO dollars in
cash.
land on the granting to the Indianapolis
e. Broad Ripple Rapid Transit Company a
franchise to all the streets granted as above
set forth, il will give bond now to. the city
of Indianapolis in any reasonable sum
which the board may see fit to require.
guaranteeing that IL Will carry out the
promises made in the securing Of said
grant"
The proposition was received. and Presi-
dent Holton, Of the board, said it would
have due consideration whenever the ques-
ton OF a franchise was taken up.
Mr.. Walker, in discussing the matter fur
Their, said he was not at liberty to give the
name of any of the hackers OF the company
In this venture, but he said they were men
who were worth millions. and the offer was
a bona fde one. He said the company stood
ready 10 make a bond that could not be
had been made after the matter had been
Thoroughly canvassed and the condition of
Ine OAAlR4 4AA4AAA u lltl
who understood what thew were doing.
DIR. Light. In speaking of the matter, said
his company was backed by well known
New York capitalists, who were willing to
take such a franchise, and had already sat
isied themselves that there would be money
in the business on those terms. He said
these men had come TO the conclusion that
the franchise was worth $4,000 more than
the City company agreed to pay, and they
were willing to take IL at that price.
The City Company's Franchise.
The franchise given the City Street-rail-
way Company provides that in case the
company shall not extend it's lines to points
which the city Board Of Works think de-
s;rable. the board may order the work done
by the company. or may engage with an
other company TO make the extension. Il
also provides for the sale to the city OF the
plant after thirty years time. on appraise-
ment. The company was to be taxed upon
it's gross receipts 10 per cent. for the first
five years, 12iz per cent for the second five
years, 1872 per cent. for the third five years
and 14ia per cent. for the remainder OF the
period. Cash fares were TO be 8 cents, with
six tickets for a quarter. and with transfer
privileges. The company was TO pave be-
tween its tracks and eighteen inches out
side. and clean and sweep them. Cars were
not TO run at more than ten minutes apart.
Cars were to be run after l a. M. every
hour on all lines. The franchise provides
very particularly for the methods OF settle
ment with the city.