The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-18
A NEW BEER SYNDICATE
THE HOME COMPANY DECIDES To
SELL FOR ABOUT 100000.
Terre Haute and Other Concerns to
Be in the Deal-Eastern
Capital.

The Home Brewing Company, of this city,
will probably pass into the control of syn
dictate within the next few weeks. The
stockholders of the concern held a pro-
longed meeting last night at Mozart Hall
and decided to dispose of the plant pro-
vided satisfactory terms can be arranged
with the prospective purchasers. If the
plant is sold, it will bring a sum slightly in
excess of 100000.
1t is denied that the brewery is to pass
into the hands of the syndicate known as
the malt trust" 1t is asserted by MEM
bers OF the company that an entirely new
syndicate is to come into the field in this
State. This corporation, it is claimed will
include besides the Home Brewing Com
pany, the American Brewing Company of
this city, and the Terre Haute Brewing
Company, the two Lafayette breweries and.
possibly, the brewing concerns located at
Peru and Logansport. The syndicate is to
be known as the Indiana Brewing Company
and is to be backed by New York and Phil
adelphia capital. An officer of the Home
Brewing Company is positive in the asser-
ton that the American Brewing Company
will be a part of the syndicate, notwith-
standing the recent statement of j. c.
Schaf, president and general manager of
d
ago. denied that his company was about to
be absorbed by a syndicate. He said the
company had given no option on the brew
ery-that the owners built it to operate it
and it was not for sale.
There are about seventy-five stockholders
in the Home Brewing Company and nearly
all of them were present last night. They
discussed the proposition to sell out to the
syndicate for nearly two hours, and at
times there were two or three men on the
floor all talking at once. Some of those in
the meeting said. after the adjournment,
that the vote of the stockholders to sell was
unanimous and that the excited discussion
was over the price the plant should bring.
The syndicate, 1t is said has offered 100000
for the concern. but will raise the amount
terms on which the plant is to be sold, 1t is
understood the syndicate is willing to pay
bonds and the remainder in stock. A COM
mittee was appointed last night to investi-
gate the security offered and, If salts
factory, the deal will probably go through.
The capital stock of the Home Brewing
Company is 5000 600, divided into two hun
dred shares The officers of the company
are: William P Jungclaus, president; An
drew Hagen, secretary and treasurer The
plant is situated at Cruise and Daily streets.
Secretary Hagen, who has the active man
agement of the concern, says he is anxious
to go out of the business It is maintained
that there are too many breweries in the
State The business, it is claimed, is not
pendent concern successfully it is necessary
for the brewer to invest heavily in saloon
property. Secretary Hagen says the brew
ers themselves responsible for this con-
dition and he wants to get out of the bust
ness. An officer of the Home Brewing Com
pany. in speaking of the conditions that
Gated that nearly all the saloons in this city
are owned by the brewing companies.