The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-11
IS GROWING RAPIDLY
NEW BICYCLE ORGANIZATION For
RACING PURPOSES.
Views of a. Member of the L.. A, w
Racing ~BOard-The Louis
VILE Races.

The movement for the organization Of a
stock company to build a cement cycle
track in this city goes on apace. The tenn
porary chairman of Friday nights meeting.
A. c. Newly, has prepared subscription
blanks and he will begin securing sigma
lures to them to-day. A preliminary cam
vass of those who attended the meeting
showed that nearly $40, 600 of stock would
be subscribed by them or by persons for
whom those present could speak. The first
effort of the members of a which
Mr.. Newly will appoint will be to get these
pledges substantiated and then the commit
tee will be increased in number and a gen.
eral canvass of the prominent merchants of
the city will be made.
The value of shares of stock has been
placed at $25. 1t was the first idea that
shares should be issued at 500, but after
consideration the figure was changed.
There was an object in this. 1t is the in
tention to issue to stockholders cards which
will entitle them to all the privileges of the
race track and clubhouse. This will include
free admission to all entertainments, of
whatever nature, given by the Indianapolis
Bicycle and Athletic Club, as the new or
ganiZation will be called. In this way the
holder of a single share of stock will proba-
bly, save from s. to so or more on the sea-
son. This would be a pretty fair dividend
on a stock outlay of $25. 1t is believed that
many persons will be willing to take single
shares of stock for the benefits to be de-
rived.
The form of the subscription blanks
which have been prepared Is as follows:
I'VE, whose names are hereto subscribed,
do hereby agree among ourselves and with
each other to subscribe to the capital stock
of the proposed Indianapolis Cycle and Ath-
letic Club, an association proposed to be or
ganized and Incorporated under the laws of
the State of ndian for gymnastic pur-
poses, which may include the building and
maintaining OF a cement bicycle track for
bicycle races and practice and the purchase
or leasing and maintaining. of athletic
grounds for ~gymnastic and athletic sports,
exercises and games.
The capital stock shall not exceed $685.
600, divided into shares of $5 each.
This agreement and subscription to be
binding upon the subscribers and shall be
deemed a subscription to the capital stock
of said association when incorporated when
400 shares of the par value Of $4,000 in the
aggregate have been subscribed hereto, or
hereto and in duplicate hereof, and if said
amount is not subscribed within twenty
days from date this agreement and sub
scription to be void and of no effect.
The number of shares and par value
thereof subscribed by each of us is set
opposite our respective signatures
This agreement is dated May 10. This
gives until May 80 to raise the required sum
to make the agreement binding. 1t is hard
ly probable that the scheme will fall
through now that it has been placed upon
such a substantial basis. AS soon as the
people who are most directly interested in
bicycling in a business way have been can
vassed another meeting of those interested
in the project will be called. This will be
about the last of this week. Mr.. c: f.
Smith, of the Indianapolis Bicycle Com
pany, and II. T.. Hearsey, Of the H. T.
Hearsey Cycle Company, are out of the
city. The meeting will not be called until
their return.