The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-10
GAS TRUST DIRECTORS
ON ARTIFICIAL PLANT
Will Borrow Five Hundred Thou
sand Dollars to Be Used in
New Venture.
EXPERT BRILL'S REPORT
He Gives an Estimate of the Cost
Of a Plant-Five for the
Scheme.
EXPERT BRILL'S REPORT

After months of discussion, agitation and
elaboration. after appointing experts to
examine into the situation thoroughly and
report as 10 the advisability Of manufacture
ing gas. and after hearing the report of
these experts, the directors Of the COnsum-
ers' Gas Trust Company, at meeting yes
terday afternoon, decided TO enter the field
of manufacturing gas. and to borrow the
sum of 10000 for the construction of a
plant at College avenue and Fall creek.
The vote on the resolution embodying such
decision stood FIVE for to three against its
adoption. The new directors voted for it,
the old against IL, with the exception of Mr..
Fahnley, who was not at the meeting. The
resolutions passed were as follows:
Whereas, Pursuant 10 the resolutions
adopted by this board on Nov. Z, 1903. and
Nov. H. 1903, the board has secured reports
from the auditing committee authorized TO
examine and report as to the financial con-
dition of the company, and also reports from
Mr.. Prosser and Mr.. Brill, experts employed
to report as TO the value of the assets Of
the company, and also as TO the methods
and probable cost of constructing a plant
for the manufacture CT artificial gas;
Therefore. Be it resolved that it is the
judgment of this board of directors that 1t
is practicable for the Consumers Gas Trust
Company to construct a plant for the man
ufacture of artificial gas 10 supply the citi-
zens of Indianapolis with fuel and illumi-
mating gas.
"And be it further resolved that for the
purpose of raising funds for the construc-
ton of such plant, favor the sale by
the company of it's leases and other prop
erty outside of said city, and the borrowing
by the company of such additional FUNDS,
not exceeding the sum or SJOO,VO, as may De
found necessary for the construction of such
plant
WILL BORROW $4,000.
Therefore, Be it further resolved. that
the company do borrow the sum of 100000
for the construction of such plant. such
sum to be used as a special fund for the
purpose, and only for the purpose, of con-
structing such plant; such sum to be Dor
rowed upon such security and such terms
as may be hereafter determined by the
board of directors and board of trustees.
"And be it further resolved, that the
board of trustees of the company be re-
quested TO signify their consent to such
proposed loan and the contracting of such
Indebtedness as may be incurred in the
construction of such plant.
1T being the intention of this board, in
carving out these resolutions to furnish
artificial gas to the consumers of this COM
pany at ultimate cost, and we pledge our
selves to this policy"
Yesterdays meeting of the directors was
held for the discussion of the reports that
had previously been submitted by George
Nj. Brill, of Chicago, and r. w. PrOsser,
of New York, the experts that had been
employed. The report of Mr.. Brill was
made public last evening, and was at great
length.
This report touched first on the objects
for which the company had been organized.
and followed that with general discussion
| of the history of the life of the company
and all its operations from the date of its
| organization, in 1887, to the present time. in
| the field, along the pipe lines and in the
| city system.
NO NATURAL GAS FUTURE.
Following that, Mr.. Brill said: Review
ing the whole situation we see no future
| for this company as a natural gas con-
Germ, the supply of gas being exhausted as
| far as any quantity commensurate with
| the needs of indianapolis is concerned. In
| dianapolis has wasted and consumed prac-
| tically all it will get.
Artificial gas can be supplied through
the present system somewhat modified, but
| il is useless to expect or to consider tina!
any gas at all comparable in cost with
natural gas will or can be supplied. II
gas is to be supplied it will have TO be
made by some of the well-known processes
/ coal gas, water gas or possibly the opera
ton of by-product coke ovens.
! IF decided that il is desirable to con-
| tinue the supply of gas through the pres
| ent city system / would recommend that
/ an artificial plant of such size as TO sup
| ply the amount of gas which would natur-
| ally be used by the present services, be con-
| structed at the site of station G. and gas
! be furnished through meters.
| This location is well adapted TO the pur-
| poses, if connection could be had with the
| railroads located two three squares eas
| OF the property. Water is available the
| profile OF the ground is all that can be de.
| sired and it is we'll located for connection
to the present city system, one of the mair
| lines now running from il.
| 1--WE estimate that ii would require not Il
| exceed 100000 feet of gas per twenty-foul
hours to supply the people who have beer
| and might be served from the present sys
| tenn
| Mr. Brill concludes his report with tn,
| recommendation that, if it is decided L
| should be a coal and water gas plant which
| he estimates would cost $4,000 and ga:
| from which would cost Sc cents per thou
| sand feet, including material. labor. repairs
| interest, taxes, insurance, depreciation anC
| fixed charges. In addition to the cost of tn,
| plant IT will be necessary, thinks Mr.. Brill
| to spend $4,000 upon the city mains, S126 90
| for changes and renewals of services anC
$4,000 for meters, making an additions
| total of $4,000.
Station &c" mentioned in the report is a
College avenue and Fall creek.