The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-03-06
PROPERTY NOT FOR SALE
WIN. y. TURNER TALKS OF STREET
CAR COMPANY's PROSPECTS.
Arrangements Made to Take Up Bonds
The Potts PIan--WashingtOn
Street Pavement.

William Jay Turner, of Pennsylvania,
chairman of the board of directors of the
Citizens Street-railroad Company, is at the
Grand Hotel. He said to a reporter last
night that he was here on business con-
nected with the company. "One of the prin-
cipal objects of my VISIT he continued lis
to confer with the L. A. w. committee with
reference to the construction of a bicycle
track by the company
''Mr. Turner what do you think of the
Potts plan for buying out the Citizens
Company
Mr.. Turner smiled.
81 have read Mr.. Potts's plan with much
interest he said, but / am still uncon-
WINGED of its practicability. I have always
believed, and yet continue to believe, that
III this generation, at least, business con-
Germs must be business principles.
1t is also my observation that cooperative
ventures are not the most successful. A
citizens movement to acquire possession of
the street-railways with the end in view
of running them at cost seems to me to be
about as reasonable and as practicable as it
would be to organize a. citizens movement
to obtain possession Of some newspaper
property with the object of furnishing pa
pers at cost. If street railroad Is a semi
public institution, so is a newspaper, and If
the one can be run by. a citizens co-opera-
tive movement, so can the other"
Mr.. Turner added that of course the COM
pany had not taken the Potts plan as Sc
rious
1--WE do not expect any proposition from
such an organization" he continued, land
I can add that our property is not for sale.
We intend to continue in business, and it is
our purpose to give Indianapolis the best
street-railroad service that it is possible to
give. Many of our cars have lately been re-
painted, trailers have been put on and
number of new cars placed on the lines. In
fact, we have made many improvements re-
Gently, and we intend to continue this pol
icy of keeping the service up to the best
standard in the country
THE MATURING BONDS.
How about the bonds of the company
that will mature this year?"
II have seen something about those bonds
inthe Journal" replied Mr.. Turner. 1.-THE
people may rest easy on this score, as COM
plete arrangements have already been made
for taking care of this entire indebtedness.
There will be no suit for foreclosure and no
opportunity for Mr.. Potts's syndicate or
any other company to bid our people in at
forced sale"
Mr.. Turner was also asked If the COM
pany intended to at once carry the suit
testing the constitutionality of the new law
to the supreme Court in case the decision
of the Noblesville court was adverse to the
company. He replied that the matter of
appealing a case was never considered by
the company until there was a decision
from which to appeal.
rs the company open to a proposition to
pave between its tracks on Washington
street,"
1--WE have not considered such a PROPOSE
ton as yet, but the matter may be taken
up by the company later on. Naturally the
company does not feel that it is Just to
expect it to pave between these tracks
when in a few years an effort may be made
pany, however think is willing to con-
slider the proposition"
Mr.. Turner believes that when the time
upon a new franchise that will be salts
factory to both sides.