The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-10-31
CONFIDENCE IN TRUSTEES
PUBLIC FEELS THAT BOARDS AC-
TIOy TUESDAY WILL BE JUST.
Harry s. New and Others Discuss
Crisis in Affairs of the Company
Judge Carter Praised.

Stockholders in the Consumers Gas Trust
Company who oppose the course taken by
the present directorate and who favor the
continuance of the company as a manu-
facturer OF artificial gas are anxious that
a meeting be held before the trustees meet
Tuesday to elect a new set OF directors.
George Merritt and other public-spirited citi-
zens who have taken the lead in condemn
ing the alleged plan TO wreck the concern.
are interested In getting the independent
stockholders together. The meeting may be
held Monday. Alfred F. Potts and others
who speak for the consumers are planning
the meeting.
Every day has called forth new express
sion from prominent citizens regarding the
remarkable condition of affairs In the gas
trust company. Nine men out of every ten.
putting II conservatively, hold to the view
that the company was designed for the good
of the people of the city and not for the
profit of the stockholders. particularly a
coterie as represented by the Eureka Invest
ment Company a number of the leading
lawyers of the city hold that the stock
holders have no further interest in the COM
pany other than the interest OF any other
citizen after their investment has been re-
turned to them with the per cent interest
stipulated
Speculation as to the probable action OF
the trustees next Tuesday is general The
character of the board is such. it is de-
clared on oil sides. that nothing but the
most just and equitable decision may be
expected. Judge Carriers action in refus-
ing to appoint a receiver for the concern
until after the trustees have met is praised
on all sides. One of the interesting phases
OF the complex situation is the attitude of
George j. Marott. Although ostensibly
standing with those stockholders who favor
the continuance OF the company TO serve
the public by furnishing artificial gas, Mr.
Marotts action is criticised as tending
more TO the interest OF the alleged wreck
ers than for the public good.
Harry ). New, who returned TO the city
Yesterday from Mexico, had the following
TO say: Il have not been back long enough
TO catch I'D with all OF this talk about the
Consumers Gas Trust at this time. but in
1887. when this company was organized.
had Its purposes fully impressed on my
memory by the attitude taken edtoriaIly
then by the Journal, which pointed out just
such a crisis as now seems to have been
reached. IL was assaulted for its stand from
every quarter. The intention OF the or
ganizers and incorporators was 10 build
and establish plant for the benefit Of
the people. 1t was perfectly understood
money received il back in full, together
with all interest. the plant was to be held
in trust by the trustees and operated for
the beneht OF the people, and that this
service was TO be permanent The Journal
was thoroughly in sympathy with this pur-
pose, but il feared. and gave voice To it's
fears in its editorial columns, just such a
crisis as has come on.
HORACE M'KAY'S OPINION.
Horace Mckay. in discussing the general
situation and particularly the suit FOR re-
ceiver brought by Mr.. Marott. said yester-
day: at am sorry that this Marott suit for
a receiver for the Consumers Gas Trust
has been brought, for I believe il compli-
Gates the situation, and II successful will
result in just what the citizens movement
at this time seeks 10 prevent-the dissoiu-
ton OF the company and the plant. 1t. how
ever makes il more imperative on the
board Of trustees to give US board OF d.