Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1920-12-15

pense Of such holder will be more than
100000 and this petitioner cannot enter
into contract therefor without having
reasonable assurance of the means where
with to meet the cost thereof.
Mortgages and outstanding debts
against the company which must be met
in 1921 amount to S1,500O00, the petition
states, and to meet these obligations,
with the improvements that must be
made. will entail expenditure of about
81. 500, 00O
"Other improvements to the plant of
the petitioner are quite as urgent as the
providing Of the new gas holder" the
petition states, "but the same conditions
prevail with reference to entering into
a contract therefor as are set out with
reference to the gas holder
Wherefore, Petitioner shows that an
emergency exists requiring the making
OF additions and betterments to the plant
of petitioner in order to meet the re-
quirements Of the consumers of the city
of Indianapolis that such emergency
cannot be met and Such Improvements
made without sale OF petitioners securi-
ties; that such securities cannot be mar
keted under present conditions with
basic rate Of 60 cents per 1000 cubic feet
for gas; that an increase In said rate
from 60 cents to 90 cents per 1000 cubic
feet is necessary to, and Will II granted,
enable petitioner to finance the cost or
making such improvements.
Wherefore, Petitioner asks the Public
Service Commission of Indiana, inquiry
being first made into the matters and
facts herein set forth, to issue its order
authorizing this petitioner to increase
its charge to consumers for gas from
90 cents per 900 cubic feet to 90 cents
per 1000 cubic feet such increase TO
continue during the emergency and until
the further order Of the commission.
The company is represented by Smith,
Remster, Hornbrook and Smith. The
petition was signed by John II. WEIGH
president, and J. D. Forrest. secretary
Of the gas company.
with the fling OF the petition the gas
company issued the following petition
to the public
Every citizen of Indianapolis should
know the history OF the Citizens Gas
Company and the features OF Its organ.
ization adopted for the protection of the
public.
In ordinary corporations n person hold
Ing a majority OF the stock can elect d.
rectors of his own choice and thus con-
troll the company.
The stockholders In the Citizens Gas
Company have no voting power. All the
stock is placed in the hands OF five men
who were selected as citizens Interested
In the public welfare and entrusted with
the power OF electing the directors frem
year to year
These trustees are Thomas L. Sulli-
van, ex-mayOr Of Indianapolis: Thomas
II. Spanu. real estate dealer; Lucius Il.
Swift lawyer: Henry Kahn, manufac-
turer. and G. A. Schnull, wholesale
grocer.
The present board OF directors, most OF
whom have served for more than ten
years by appointment Of the trustees
are: John Il. Welch. president, reai eS-
tate and insurance Alfred 4. Potts, vice
president. lawyer; G. A. Etroymsoh,
treasurer president II. p. WATSON < Co;
J. d. Forrest. secretary and general man
ager: Franklin Vonnegut, NonhesuN
Hardware Company: Henry W. Bennett,
president State Life Insurance company ;
II. If Hornbrook. lawyer; Robert LleOet'
II. Lieber & Co, and J. II. HOOKER pres'-
dent Singer Davis Company ma
The company was organized IN iyVJ
through popular movement inaugurated
In the Commercial club, now the Chan
Der Of Commerce.
Scores OF public spirited citizens UNDER
took the great task OF financing the com
pany by securing subscriptions which to
tailed $500 600. There wero more thah
8 .0GO subscriptions ranging from SO up
ward. Not one cent was paid 10 any per
son for aiding In the promotion OF the
company TheIe is not d dollar % water
I'm its stock.
The company was financed by our peo-
PIE and IN fact belongs TO them. More
than 800 persons are now holders Of its
stock. The efforts OF the directors Of the
Citizens Gas Company have been and are
now being directed toward holding and
perpetrating this situation for the public
welfare
Special features OF organization pecu
liar 10 the Citizens Gas Company are: