The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-08-25
Prepared, 1t Is Said, to Invest S5OO,OOO
in Site and Buildings for
New Factory.
NOW OUT OF COMBINATION
RECENTLY SOLD HOLDINGS IN Ma
TIONAL STARCH COMPANY.
John j. Appel Conducting Deal with
Nicholas Mccarthy i'm Interests
of PieIs.

The Piel brothers, whose starch manufac-
turing plant has been part of the National
Starch Company for twelve years, have
disposed Of all their interests in that bus-
ness and in a few days will probably close
negotiations for land on which to build a
new Independent starch manufacturing
plant The site of the new plant will be
south of the abbatoir. and east of Drover
street, between the Belt and Big Four
tracks. 1t will have a frontage on White
river.
For some days il has been known that a
deal of this character was in progress, but
those interested have suppressed all in
formation concerning it, Last night Henry
W. Pe said that he could neither affirm
nor deny any of the statements and that he
was in no position to talk. Charles F. Piel.
another brother. is at Martinsville and
William F. Piel, another, is in New York
1t is understood that the visit of w F.
Piel to New York is in the interest of the
sale of National Starch securities, which
are to be delivered Tomorrow The Ma
tional Starch Company's plants, about
thirty in number, were lately absorbed by
the American Corn Products Company of
Chicago and the Piel brothers, it is said.
feel that there is field for a large inde-
pendent starch manufacturing plant.
The Piel plant Morris street was es-
tablished a great many years ago by C. F.
Piel. 1t has been one of the largest plants
of the so-called starch trust employing
several hundred men. At the time it was
taken over by this syndicate the Piels
received a large amount for their CO.
operation in the syndicating of the big
plants 1t is now understood that the pres
ent transaction brings TO them another
large amount of money. While there is
only unofficial informa ton to this trans
action ii is said that the amount is close TO
$S50,00O
1t is also understood that the deal is so
far advanced that plans for the new fac
tory have been prepared and the Piels will
be prepared to start at once with the erec-
tion of their new buildings The area of
ground they are after is said to contain
about twelve acres, and il is now owned
by Nicholas McCarty. The deal for this
land is being negotiated by Gregory q
Appel Both Mr.. McCarty and Mr.. Appel
declined to talk last night. The Dlant to
be erected is TO be modern in every phase
of construction, and TO be eduipped with
the most advanced types of corn-working
machinery. 1t is intimated that il will
produce other articles than starch
w. f. Piel is now manager of the Ma
tional Starch Company's plant The other
brOthers-C. +. and III. Ware I'm the Piel
Brothers Manufacturing Company, in
Madison avenue, which makes baby car
riages, wicker chairs and other articles
of woven wood.
w. F. Piel is expected home from New
York Wednesday or Thursday and IL is
said that official announcement of the
details and plans OF the brothers Will be
announced. Ii is already known that their
the investment of about half million dol
lars in the new enterprise.