The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-12-07
BIG TELEPHONE DEAL
ST. LOUIS LOCAL COMPANY FORMED
TO FIGHT THE BELL PEOPLE.
1t Includes Electric Lighting and a
Manufacturing Plant Capitalized
at $3,OOO,OOO.

ST. LOUIS, Dec. GA gigantic deal, in
volving a revolution in the telephone and
electric lighting business of st. Louis has
been consummated. Three big companies
with an aggregate paid-up stock of nearly
three million dollars, have been organized
by about twenty of the most prominent
and wealthy citizens of st. Louis. One of
the companies will introduce a new tele-
phone system in st. Louis at much lower
service rates than those prevailing at pres
ent. 1t will establish a home telephone
plant which will. in time, extend to neigh
boring points. The second company, owned
by the same persons. will operate an i'm
mense electric plant, supplying power of
all kinds for public and private use The
third company will construct the tele-
phone and electric plants for the two
other companies, manufacture the equip
ments, and will construct a complete sys-
TEN of underground conduits. A fourth
company is also in the deal, but it will not
figure in the proceedings at present.
The local capitalists interested in the new
companies are: Ellis Wainwright
Adolphus Busch. August Gehner. Sam NJ
Kennard. Julius S. Walsh. Rolla Wells,
Charles II. Turner. William F. Nolker,
William t. Haarstick. C. Marquand Fos-
ter, Henry Nicolus, George j. Kobusch,
Philip Stock, Lawrence S. Pierce, Breckin-
ridge Jones, c. X. ID. Walsh, Otto Won
Schrader, William ID. Orthwein and II. s..
Priest.
The Kinloch Telephone Company is the
name of $l,50OO00 company chartered by
the secretary of state at jefferson City
Saturday, with a paid-up capital stock.
The tncOrporators were the st. Lousians
just named and Hopkins j. Hanford, of
Evanston. Ill and James Fl. Parish. of
N. ". caDital a
company. however. will all be taken by
the ST. Louis parties.
Articles Of Incorporation of the st. Louis
Electric and Construction Company, with
full paid capital of 5000 600, were filed in
the recorders office of this city. The
papers contain the same list of incorpOra-
tors. Late yesterday afternoon the same
gentlemen held a meeting and closed a deal
which put them In possession of the Citi-
zens Electric Lighting and Power Com
pany and the Telephone and Telegraph
Service Company, both of which have had
but nominal business for many years.
The Citizens Electric Lighting and Power
Company was then practically organized
with full paid capital stock OF $3.50, 600 and
officers were elected
The deal is one of the largest ever COM
pleted in st. Louis. and its effects are far
reaching. The combination was made for
the avowed purpose of revolutionizng the
telephone and general electric business in
st. Louis. The local capitalists start out
with the announcement that the new tele-
$50 per year for residences; $50 for physi-
clans ard $50 for business houses The
present telephone rate is 800 for the Bell
telephone service The new company will
open general offices next week and will at
once get out and hustle after prospective
subscribers. The local capitalists aDpar-
emily mean business, as they filed their
applications for conduit space with the
Board of Public improvements late yester-
day afternoon and also filed four bonds
aggregating $4,000, with the mayor and
Council.