The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-04
A CENT CAR FARE
TICKETS ARE NOW ON SALE WITH
ALL THE CONDUCTORS.
Transfers TO New street-RaiIroad
Company Completed Yesterday
Uncle Sans Profit.

There was just 5000 worth OF revenue
stamps on the deed which conveyed, yes
terday, a complete transfer TO the Indian
apolis Street-railway Company Of all the
rights and franchises OF the Citizens
Street-railroad Company and the City Rail-
way Company. There were sixty revenue
stamps, each OF which cost $50. pasted to the
document and Cancelled. Added to this little
pile taken in by the government the city
of Indianapolis received 10000 and the
State of Indiana 5000 as a result Of the
numerous conferences held yesterday by the
street-car men. The visitors from out of
town who were talking street-railway bust
ness in company with the local officers and
stockholders were Randall Morgan, II. j.
Delaney, DIR. ]. S. Neff. r. C.. Dale, George
s. Philler, w. ]. Turner. Edward Hand and
Lewis Little. all of Philadelphia. and ID.
Young. OF Jersey City.
1t was not until several meetings OF the
stockholders and directors Of all three COM
panies had taken place that the business
Of completing the surrender Of interests was
consummated. 1t was about 2 o'clock in the
afternoon before the Indianapolis Company
came into entire possession Of the fran
chises.
The transfer deed described sixty-three
several piece OF real estate in Indianapolis
and is subject to three mortgages-one for
100000 to Albert G.. Porter. trustee. another
for $4,000 TO the Illinois Trust and Savings
Bank and S. j. Fletcher, trustees. and a
third to the Solicitors Loan and Trust Com
pany, trustees, for A.O00.O00. The new COM
pany filed a mortgage on its plant to the
Guarantee Trust and Safe Deposit Com
pany of the State OF Pennsylvania TO Sc
cure S.000.00 OF gold-bearlng 4 per cent.
bonds. This document contained $3.50 worth
OF revenue stamps, going the deed ten
stamps better. 1t was a big day for the
revenue stamp business in indianapolis.
When the transfer had been finally eff
fected two things were done without delay.
One was the filing of articles with the sec
rotary Of state, increasing the capital stock
Of the company from 100000 to 5000, 900.
Attorney Ferdinand Winter represented the
new company in this matter and he handed
over three crisp $1,000 bills to the secretary,
the fee claimed by the State. The other
thing or the programme was the turning
over TO the city controller Of a check for
10000, representing the first annual pay
went TO the city for the privilege of the
franchise. This part of the deal was looked
after by President WATSON and Treasurer
Lemcke. Controller johnson issued a receipt
Tor the money, which will later on be FORM
ally added to the park fund. BY the sur
render OF all its rights and claims the City
Company was released from its bond Of
100000, which was given as a guarantee
TO assume the carrying out of its contract.
CHEAP FARES IMMEDIATELY.
Immediately upon the formal completion
of the deal the new regulations in regard
to fares and transfers were inaugurated on
all the street-car lines throughout the city.
1t didn't take long for the people in the
business part OF town to learn that the six
~for-a-quarter tickets and twenty-hve-for-a-
dollar tickets had been placed on sale, and
the heavy demand for the pasteboards,
which had been anticipated by the company,
began at once. The conductors did a rush.
ing business during the entire afternoon.
Many people bought tickets more for the
novelty OF the, thing than because they
really wanted them, and one conductor said
that his. car had carried a party of jovial
LoGisiana-street curve and back again, the
passengers taking the trip merely for the
purpose of spending their tickets.
WATSON, 'in having as many as 100000 of
the tickets printed for a first installment. OF
course there Will not always be the demand
Tor them that will naturally take place dur
ing the first month or two. We expected
the people TO accept the tickets as play
things at first, and. judging by the way they
are using them to-day, we were right in our
Judgment. In the course of the next three
months, the demand will settle down to a
norInal state, ana We Will then be able 10
properly estimate the number of tickets to
be kept on hand for distribution
There were many inquiries during the
day as to whether the new tickets would
| be received as fares on the ''owl cars" The
officials issued orders last night 10 all the
conductors that the tickets were TO be col
lected on the owls" just the same as on
| all other cars. This means a reduction of
8 cents on every owl car fare in the future.
| General Manager MCGOWAN announced
yesterday that he would become a perma-
nent resident OF Indianapolis. He will bring
| his family here from Kansas City and, be-
| ginning with May IL, will lease a house on
the sotheast corner of Delaware and Eiev-
| enth streets.