The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-11-07
TECHNICAL SCHOOL SURE
FUND OF s15O,OOO Is READY TO BUY
ARSENAL SITE.
Men on Endowment List Guarantee
Remaining s22 ,OOO-school Will Not
Open Before Next September.

1--WE are ready to bid to-day for the ar
senal site" said the Rev. s. c. Dickey last
night 1--WE have provided the necessary
$4,000 to make the bid, and In so doing
have made 1t possible to bring the National
Technical Institute here and to settle the
question of the establishment of an army
post in favor of Indianapolis"
The local executive committee met yes
terday and was greeted with the Informal
ton that men of wealth who had assisted
in the endowment of the institute had be-
come guarantors to the amount of $4,000.
which was the portion of $4,000 yet to be
raised. The committee has already raised
$12S,OO0 by subscription. The guarantors
act merely in the capacity of indorsers and
the canvass for subscriptions will not abate,
but will be pushed with more vigor.
There were several reasons for announc-
ing this guarantee" said DR.. Dickey. 1.-The
chief of which was the desire to inform the
people of the success Of the enterprise.
which will undoubtedly increase the good
will for it, and the undesrability of seek
ing another extension in the time for re-
ceiving bids by the War Department. While
We had no intimation from Washington
that another extension would be refused
we felt that we might be expecting too
much to expect another extension. We felt
that crisis had been reached and that we
should put ourselves In position mt once to
bid for the arsenal site without further
delay.
1--WE have no doubt but that the additional
$22, 900 will be subscribed by citizens of In
dianapolis. Those who have been waiting to
Judge of the stability and success of the
project may now be assured that both have
been proved and that their subscriptions
will be just as great an aid as If they had
been made first. The guarantors not
giving this money. They are like men who
indorse a note; they do not expect to pay
it. They merely stand responsible for an
amount that they have faith Will yet be
subscribed.
Dr. Dickey said he could not, at this time,
make public the names of the glarantors.
but they are men who have already con-
tributed to the endowment of the school.
He said he was not ready to admit that this
fund.
READY TO BID.
AS soon as the government appraisers
report is made known and the date for the
sale of the arsenal site is fixed the technical
school promoters will offer a bid not less
than the amount of the appraisement. 1t Is
expected that the site will pass to them.
The government will then reinvest the price
in a site near the city for an army post
and thus the city will gain two large in
situations.
After the site is purchased the faculty
will be selected and the arsenal buildings
rebuilt to suit the purposes of the institute.
The preparations for the opening of the
school will be such that IL cannot be opened
before September OF next year. DR.. Dickey
estimates that. with the drift toward
technical education that Is now. admitted,
it would be only a few years until the
school would have several thousand pupils.