The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-10-31
THE CITY AND THE CONSUMERS
TRUST COMPANY.

The formation of the Consumers Gas
Trust Company fifteen years ago attracted
much attention throughout the country. 1t
was the first attempt to apply the principle
OF popular organization and trust manage
ment to a public utility, and while the at
tempt was universally approved many
doubted if it would succeed. The public
had become so accustomed to seeing all
kinds of public utilities managed by private
corporations for private interests that they
could hardly bring themselves to believe
that corporation could succeed whose sole
object was to serve and benefit the public
without becoming q source of private gain
to any person. 1t is believed that no other
corporation was ever formed for the avowed
purpose Of furnishing the public with fuel
at moderate profit from the beginning,
and finally at actual cost The uniqueness
of the movement attracted much attention
from outside and won many compliments for
indianapolis as the first city to develop
new form of civic pride. 1t was one of the
earliest indications that this is mo mean
city" The original promoters and incor-
porators Of the company included many OF
the most philosophical citizens Of that time,
nearly all of whom went into the movement
as a matter of principle. They were firm
believers in the popular benefit principle on
which it was organized and had no other
idea but that the original plan of the COM
pany would be carried out to the end in
good faith. Some of the original incorpora-
tors have passed away, while others still
survive and are among our most prominent
citizens. Among the former are Albert G.
Porter. Eli Lilly, John w. Murphy, Julius
F. Pratt, John NJ. Butler, E. c. Atkins,
William p. Fishback. 1t would be impos-
sible to impute any but the most honorable
motives to any of these departed citizens,
and equally so to most of those who still
survive. There can be no doubt but the
dominant motive at the organization of the
company, a motive that commanded general
admiration and approval on account of its
public spiritedness. still prevails with most
of the survivors of the original incOrpora-
tors and stockholders of the company. This
statement, however is subject to some quail
hcatiOn, for 1T is evident that a rev Oh the
original stockholders have taken advantage
of being on the inside to organize a scheme
to divert it from it's original purpose and
convert it, together with, its large and valu-
able properties, into machine for private
profit. This can only be done by complete
reputation of its original purpose and Of
the understanding of large majority of it's
original stockholders, and by discarding al
together the original idea of trust for the
benefit of the city. The Journal does not
believe the courts will permit public
trust to be so diverted and prostituted from
it's original purpose. and it believes that the
city, in the name of the people for whose
benefit the trust was created, should take
steps to assert it's rights and those of the
people. Let it still be said that when it
comes to the assertion and protection of
popular rights and to the preservation of a
public utility created in the interest of the
Daonle this is no mean civ