The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-11-18
Only $4,000 of the Original 100000
Capitalization Remains to BE Paid
to Security Holders.
ASSETS ARE VERY VALUABLE
AND HOLDERS OF STOCK AT THE
"FINISHo WILL REAP HARVEST.
Bid of o on the Local Exchange
Yesterday - Price Already Has
Touched o on a Sale.

Exchange trading was dull yesterday,
and was featureless except for a bid of 500
for Consumers Gas Trust stock. The bid
Saturday was $50, but a sale was made
earlier of five shares at 600. There is a be-
lief that COO will be reached again. The
activity of this stock is a mystery that does
not permit of much exploration, but stock
brokers think there can be but one reason
for which such a tremendous price is Of
fered for this line. The inexpert in stock
trading wonders why. with gas practically
exhausted and other gas stocks ruling low
indianapolis being bid at 65-the Consum-
ers' stock is so valuabl The capitaliza-
ton of the Consumers Gas Trust Company
was $4,000. OF this all but $40, 900 has been
paid Off under it's prima facie conditions.
There remains but 5 per cent. of the gross
capitalization unpaid. and at the sale last
week this represents $4,000 in valuation.
This is 30 per cent. of the total capitaliza-
ton. None of the stock has been wholly
discharged. but each share has been paid
70 per cent. Of its par value with interest.
The explanation of stock brokers is that
financial interests are seeking this remain
ing stock because Of the assets of the cor
poration. 1t is realized that the corpora
ton will have to terminate its natural gas
business when its production ceases to be a
practical supply for this city. The assets.
1t Is held, will certainly belong to some one,
and this some one will be the stockholders
who are Sin at the finish" These assets
are estimated at from $4,000 to 1850, 900.
and the stockholders interest will be in the
nature OF vested rights. The assets COM
prise the pipe lines Of the company, it's
pumping stations and its land leases.
These leases include the exploration not
only for natural gas, but for oil and min
erals Tn particular area now under lease
by this company Is believed to be immense
ly valuable for the production of oil. The
pipe lines which have brought gas alone to
indianapolis are IN an excellent state, and
IL dug out of the ground could be sold for
a greater price than was paid for them.
The indianapolis company has taken up
some of it's lines and sold them at a high
price, and the Manufacturers company did
likewise. The pipe lines of the Trust COM
pany are said to be worth S100.O0 at least.
A. w. Thompson has been the heaviest
buyer of the local brokers. 1t is said he is
buying for the financial interests repre-
sented by the Frenzels, who are said to
control four-fifths of the remaining stock.
Nicholas McCarty and George j. Marott
are also holders of good blocks. A num-
stock, and most of them will not sell at
any price. One, a lawyer, says that when
the finish" Of the company comes. stock
holders will be beneficiaries Of the distribu-
ton of the assets.
A sale of American National stock at 13S
was reported and a bid of 200 for Mer-
chants National brought out no response
at that or any other price. The sales of
stocks yesterday Were:
No. Price.
10-American National .13S
Following are the quotations furnished by the