The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-07-13
DELAvAN SMITH AND CHARLES n.
WILLIAMS ITS PURCHASERS.
Four Hours Competition-Nnj. w. j..
Richards's Top-Notch Figure
Was S530,OOO.

and after that figure was passed he would
be a seller and not buyer. The figure that
was finally reached was a surprise TO all
who were closely interested in the sale.
Previous estimates hardly ran to $500 900.
Messrs Smith and Williams were repre-
sented in the first OF the bidding by Ferdi-
nand Winter. who had been their attorney
throughout the litigation, but at the close,
isaac NJ Jordan. a young attorney from
Cincinnati, bid for the two owners.
Major Richards was his own financier.
The other bidders were Alfred f. Potts,
Nathan Morris and II. NJ. Bowling, all rep
resenting unknown parties. 1t was sup
posed Mr.. Potts represented an indianapolis
company. Mr.. Morris Chicago and Kansas
City organization and Hr. Downing John II.
Holiday and Major Richards This was the
talk of the crowd. Major Richards emphat-
icalIy denied that Mr. Bowling represented
him, and he said he knew John II. Holiday
was not bidding. The statement of Major
Richards was accepted and Mr.. Dowling's
backing remained shrouded in mystery, par
ticularly as he declined to tell whom he rep
resented.
The sale was conducted In the corridor
leading to the south steps of the court
house. The crowd began to gather imme-
diately after the noon hour. The partici-
pants in the sale came on the scene at 2
o'clock. Hilton u. Brown. the receiver, took
his place at the desk. He was accompanied
by Charles Dennis. who acted as the clerk.
Mr.. Brown has spent his professional career
as city editor of the News and the role of
auctioneer was new to him, but he was as
collected as IL he had given his life to the
auctioneer's block. He first read the order
~ fhra e.
ding began. 1t was required that each of the
bidders should deposit a certified check for
$4,000 before they began bidding and this
rule had been complied with earlier, with
the exception of Alfred F. Potts. He came
In after the others, and when he had de-
posted his check offered the first bid
5000. 900.
STARTED AT 100000.
Major Richards raised Mr.. Potts $4,000
and then Mr. Morris said $4,000. Then
Major Richards and Mr.. Morris had it, not
up and down." but up until it reached $4O0,-
900. Mr.. Winter then entered the lists with
bid Of $4,000. Mr.. Bowling had been in
the race and when Major Richards dropped
out after bidding S530,0O0, Messrs. Bowling,
Morris and Winter had II all TO themselves
until the bidding climbed to over 100000.
AT this time Mr.. Jordan entered his bid
dollars each, but after 100000 had been
reached the bidders contented themselves
with bidding a few hundreds as increases.
When Mr.. Winter and Mr.. Morris dropped
out and the struggle was only between Mr.
Bowling and Mr.. Jordan raise OF $3.50 at
time was considered sufficient. Many times
then one or the other of the bidders would
raise the price. Mr.. Browns favorite ex-
preston was, Fair warming. gentlemen"
and it is estimated that he spoke this
phrase six hundred times.
II was 5:55 o'clock when Mr.. Bowling bid
$685., 40. Mr.. Jordan raised it $3.50 Mr.. BOWL
ing did not respond. The receiver said Fair
warning, gentlemen" and counted one, two.
three, and sold to Mr.. Jordan. gentleman.
that he represented Charles r. Williams and
Delavan Smith, and Mr.. Smith stepped for
ward to sign the record of the sale. The
crowd dispersed and the principals tarried
but moment.
MIR. WILLIAMS OVERCOME.
1t had been many day, apparently. since
the courthouse had been the stage for so
interesting scene. for 1t seemed that all
the prominent men of the city were gathered
in the corridors. They were packed in the
south corridor and pressed closely around
the desk of the receiver. Men stood in the
inches in the walls and looked down into
the arena. The air was stirling, il was so
warm. Collars wilted in few minutes and
every brow had its attending handkerchief.
heat. He went out into the yard and sat i'm
the shade for time, and then a carriage
was called and he was taken home. His con-
dltlon was not serious. Those who were
close enough TO hear the voices OF the bid
ders and the receiver passed the news back.
sRd II of was tse qSsy RSetnd to he out
left the contest and the price continued 10
be nc hois Isl up into the hundreds of thou
interest. His friends pressed around him
and congratulated him.
Hoy does it feel to make money at the
rate OF a hundred dollars a second, major?''
he was continually asked.
Very well. thank you," he replied, and
Many newspaper men were present and
the members OF the News staff were
'kidded' by being asked, WHO are you
working for?" Because no one of the
crowd knew who Mr.. Bowling and Mr. Jor-
dan represented there were many rumors
about political syndicates from other cities
mounted to over 10000 men looked into
each others faces astounded No public
sale of that magnitude had ever. occurred
in Marion county, it was said 1T will 70
TO a million dollars some predicted The
crowd pressed forward to look at the mys-
seen TO be surprisingly youthful looking
man who leaned over the desk and spoke of
large sums of money with the nonchalance
OF Monte Cristo.
by George. he's got nerve hasn't he"
said one
"Oh, 1 don't know" said his neighbor:
IL
other mans money when he has told you
how far you are 10 CO.
III that youngster gets II the sale won't
be valid" declared cynic with four DAYS
growth of beard, because he amt of age"
He was laughed down.
MAJOR RICHARDS'S PLANS.
When the paper had been knocked down
10 the highest bidder and the play was over
Major Richards was asked as to his future
movements. 1t had become generally be-
lieved, IL was suggested to him, that he in
tended starting new paper.
1T would be foolish he said. FOR me to
declare my intentions at this time i will
not deny that have an option on a lease
of a newspaper plant at Burfords printing
establishment and a business room on
Washington street. 1 must look over the
field and take into consideration the de-
velopments OF the sale before / determine
what / shall do"
II is figured that Major Richards made
SlI4.5J yesterday afternoon. When he
dropped out OF the bidding IT $3.50. Gee IL Is
assumed he considered his part of the News
worth i3 per cent. OF that amount-$227 800.
His share of the price paid for the News IS
StO2,sS0 The difference between what he
thought his interest in the paper worth and
ference will be held this morning between
the principals in the sale. and the arrange
mentS for the transfer will be made Ac-
cOrGing TO the order OF the court, at least
one-third or the purchase price must be
paid down, and the remainder must be paid
In four equal installments The books IF
the old company were closed at o'clock