The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-07-17
STOCKS CONTINUE FIRM
SECURITIES OF INDIANAPOLIS
sTREET-RAILWAY COMPANY.
An Upward Movement i'm Bonds Of the
indianapolis Gas Company
Street-Railway Consols.

1.-THE stocks and securities of the Indian
apolis Street-railway Company continue
firm" said Sol. Meyer, of the banking firm
Of Meyer & Kiser land this. to my mind.
indicates that the property of the company
generally has improved. When the stock
took that sensational upward flight a few
weeks ago in Philadelphia it was suggested
that there was a preconcerted movement
behind it, but in spite of the company's
evident wish to bear the stock in favor
of the bonds, the former has not fallen be-
low IS. at which figure it now stands AT
the time of the furry OF which L speak
the company issued a statement, which was
printed in the Journal to the effect that
there was no likelihood of a dividend being
declared on the stock for some time TO
come. Now the fact that that statement did
not bear the stock more than 1t did is
pretty good indication that the investing
public knows of the general high standard
of the local street-railway companys plant
and that it has confidence in the COM
panys ultimate ability to declare dividends
on its stock
1.-The bonds of the local street-railway
company are. in my opinion, as good an in
Vestment as any one could make IN the
way OF securities, continued Mr.. Meyer.
THE fours are quoted at from S0la to So
cents and we confidently expect them to
reach 80 cents by the LIST Of January, 1902.
Mr.. Meyer said that the bonds of the In
dianapolis Gas Company have taken de-
cided upward turn of late. About six
months ago they were quoted at 1914, while
yesterday in New York the quotation was
l0l. I'VE have always believed that II the
Indianapolis Gas Company bonds were
worth anywhere near par said Mr.. Meyer,
that they were worth considerably above
par. Just look at what they rest on. An
exclusive franchise. or practically sc, in
growing city like indianapolis, and
bonded Indebtedness Of only 100000. Why
shouldn't they make very desirable Sc
curity?"
Mr.. Meyer said that he and Gavin Payne.
the latter secretary of the Security Trust
change project. I'VE are not doing much
at il right now" said Mr.. Meyer, because
it is too hot TO talk new things at present.
Our idea, however, is to get about twenty
active interest in local securities. Such
concerns, for instance. as the Atlas engine
works and the Belt Railroad and Stock
yards Company. The securities of indus
tries like these, that are on solid founda-
ton. ought TO be listed on local exchange
so that investors and brokers can get to-
gether and each find out what the other
has or wants Very frequently We have
calls for securities that are not in our pos
session and we do not always know right
was a local stock exchange, the brokers
could find out who has supply of given
security and transactions would thus be
greatly facilitated. Another advantage of
having the securities of strong local In
dustries listed on a local exchange would
be that IL would give the outside public a
knowledge of what they are, what their
stock is worth and how they are progress
TO the city that would be put on the same
kind of basis"