The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-08-20
Bonds Will he Taken Up by Eastern
Capitalists, Whose Representative
Is i'm indianapolis.
PARRY TALKS ABOUT PLANS
FIRST DIVISION WILL BE IN OPERA
TION WITHIN A YEAR.
Road Will Then BE Completed from
Sullivan to ROckpOrt-Cheap
Coal May Result.

Five million dollars of twenty-five year
first mortgage per cent. bonds will be is
sued within the next month six weeks
by the Indianapolis Southern Railroad Com
pany. The bonds will be taken by Eastern
capitalists. A. f. White, a New York
financier is in Indianapolis, negotiating for
the purchase of the bonds. The money will
be used for the construction and equipment
of the road between Indianapolis and Sulli-
van. This statement was given out last
night by D. M. Parry, president of the road
The directors of the road met yesterday
and discussed financial and construction
matters.
The contract for the construction of this
part of the road will be let within the next
work will be begun a few weeks later. The
pany, of indianapolis which, it is thought
will be awarded the contract for the con-
structioa to Sullivan. was incorporated yes
terday for $4,000. Fred Cline Frank N.
Fitzgerald, w. L. Lacey. Harry WE'LL and
Alfred T.. Kalter are the directors of the
company.
The officers and stockholders of the road
have assembled in indianapolis and are
making preparation to let the contract for
the indianapolis and Sullivan division. The
right-of- way for the entire route to Rock
port, the southern terminus of the road. is
now complete, and President Perry saws
that within a year the indianapolis and
Sullivan division will be in operation.
FLOATING BONDS is EASY.
1--WE are not going to have the least trou-
BILE to float the s5.OO0.oOO of per cent. first
mortgage bonds we will issue within
now complete, and President Parry saws
night 'The value of the territory which
the indianapolis Southern will go through
in the way Of assured large freight busi-
ness from the coal mines and stone quar-
ries will make the bonds especially de-
sirable. And then, too, they will draw &
per cent. interest. Mr.. A. F. White. of
New York, who has been in Indianapolis
for some time and has gone over the route.
is negotiating for the purchase of the bonds
for Eastern capitalists. The construction of
the division between indianapolis and Sui
livan. a distance of about 10 miles. within
the next twelve months is now an assured
fact And within him a ,1 short time after its
ton between this city aud Sullivan When
this work is completed the company will
an once begin the construction of the re-
malQder OF the llIle I'd flOckpOrt. the SOl1fb-
ern terminus. The road will be something
over 200 miles long when completed to Rock
port
The entire cost OF the construction and
equipment of the road will be between S.
600 900 and $10.000.000 President Parry saws
After the first division is I'm operation IL is
thought the company will issue bonds for
the construction and equipment of the di-
vision between Sullivan ard Rockport
From Indianapolis the route of the In
dianapolis Southern goes due south for
info
a little to the west to touch Morgan coun-
ty The route then goes through Brown
county and Monroe, striking Bloomington
The next large town on the route Is Bloom
field i'm Greene county. The route then
turns slightly TO the north TO reach Linton
and Sullivan
Spu srrs.s ',hn rv,.. ~ suss . .,,ssee anu -
deliver coal into Indianapolis for % cents
= ton. which win be materially less than