The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-03-15
THE CONFAB YESTERDAY.
Company and City officials Have
Reached No Terms.

heache0 No Terms.
President WATSON and General Manager
MCGOWAN, of the new Indianapolis Street.
railway Company. gave the city officials an
other informal talk yesterday afternoon, al
though, as in the case of former talks, it
amounted to nothing so far as results were
concerned. Besides several members of the
Council and Board of Works, there were
present City Attorney Kern, City Cc=troller
Johnson, City Engineer Jeup and .-ay0r
Taggart. Most OF the talking was done by
Mr.. Moore, OF the Board Of Works, and
Manager MCGOWAN, while the others looked
on and listened.
During the morning the Board of Works
held special meeting with other city Off
Gals and considered several new PROPOSE
tions. The principal points were the term
of the franchise and the amount of money
the company should pay to the city for it's
franchise. The consensus seemed to be that
the term should be for less than thirty-four
years. unless the company could prove con-
clusively that such term was absolutely
necessary. 1t has been claimed all along
that six years ago the Citizens Company is
sued 100000 worth Of forty-year bonds, of
which there are now 100000 worth in the
hands OF small holders throughout the coun-
try who bought them with the understand
ing that the company had perpetual rights
to the streets OF the city. 1t is further
claimed that the question of the perpetual
right of the company has never been salts
factorily settled. and that, therefore. in the
interests of the city, which has been bur-
dened with litigation for years, with the
prospect of more during the years to come,
il is desirable to grant the long-term fran
chise providing IL will dispose of the ques-
ton of perpetual rights and protect the
bondholders at the same time. The board
decided, however. that unless the company
could prove that a long-term franchise was
necessary TO protect the bondhOlders
shorter term would be insisted upon. 1t is
not known what proofs Mr.. McGowan will
present in support or his claim for thirty
four-year franchise, but he has always
maintained, during the time he was before
the Governor and the legislative committee
that such a term was absolutely necessary
TO prevent the Reputation of the bonds of
the company With regard To the company
paying the city $4,000 for the franchise,
considerable discussion was brought on by
the opinion expressed that, instead of the
company paying that amount, il should be
required TO pay over a percentage of it's
earnings. II was further agreed TO request
the company TO tear up such of its tracks
"a were not in actual use, but were only
maintained IN order TO keep possession of
certain streets.
AT the afternoon meeting Mr.. Moore
promptly took a memorandum book from his
pocket and proceeded TO present the claims
of "a portion OF the people" He first of all
wished to have Mr.. MCGOWAN bind the COM
pany 10 disburse the 100000 which IL has
been claimed will be spent in betterments
during term OF not more than two years.
Mr.. MCGOWAN replied. however that ne
could not do so at present, as the company
was not In a position 10 know what burdens
would have To be assumed I'm buying new
equipment and making practically unlimited
extensions OF lines.
MOnFa bu IF
the company paying over $4,000 in INSTALL
ments, 10 should be required 10 give the city
a portion of It's gross receipts. as follows:
None during the first five years of it's op-
Grafton: per cent. during the next five
years, per cent. during the next ten and )
per cent. during the last ten In addition
10 this he asked that the company be COM
PEELED 10 pay Sej0000 10 reimburse the prop
erty owners throughout the city who We're
compelled TO pay for the paving between the
tracks OF the company when several OF the
streets were paved a few years ago. Mr..
MCGOWAN. while not speaking authoritative
ly. said he did not think that his associates
would consider such a proposition.
With regard to sprinkling between the
tracks, he said that he did not consider IL
J expedient 10 make any such contract with