The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1926-12-28
HIGH FIGURE
IN MERGER
MAY BE CUT
Compromise Capitalization
Appears Likely Move of
Promoters.
APPEAL MADE TO CLARKE
Some Opponents in Favor of
Latest Suggestion.

Possibility that an effort will be
made by promoters OF the proposed
merger of the two local electric utiI-
tiles to proceed with the merger on
a lower capitalization than the $685.
600, 600 asked in the petition before
the public service commission ap.
peared today.
Some of the opponents of the
merger said they would not oppose
the consolidation on the basis Of a
lower capitalization and Norman T..
Perry, Indianapolis Light and Heat
Company president, indicated he
would ask Harley L. Clarke, Chicago
utilities magnate, to seek the merger
at a lower capitalization.
Clarke declared he would abandon
his merger move, after postponement
by the public service commission Of
the remainder Of the merger hear
ing until Jan. 81.
Options Up Jan. 10
Options he held must be carried
out by Jan. 10, he said.
He asserted. however, that he
would carry to completion purchase
Of the Indianapolis Light and Heat
Company, and the Merchants Heat
and Light Company and operate the
two separately.
IF the opposition to the merger is
on the question Of capitaliza ton, /
feel that there Is a middle ground
upon which an agreement can be
reached" said Perry. 'I shall recon-
mend to Mr.. Clarke that he do every
thing possible to meet the opposition
on a basis agreeable to ALL"
Seek Reasonable Capitalization
"There can be no opposition to the
unification of the two companies"
was the statement Of Charles Men
denhall, representing the city in the
hearing, provided a reasonable
capitalization can be agreed upon"
1T was not the unification of the
two utilities that we fought" said
Frederick E. Marson, who rep-
resents the Chamber of Commerce,
$50 much as the amount Of capital
ization. 1 feel confident that OPP
position will cease when a reason
able basis of capitalization is pre-
sented."
Delay of municipal financial aid
in fighting the proposed merger of
the two companies until after the
date of final decision by the public
service commission was certain fol-
lowing action of city council Mon
day night.
Councilmen declined to enact ordi-
nances appropriating $4,000 to ap-
praise the two company properties
and $4,000 to aid Corporation CounN
sci Alvah ]. Fuckers fight against
the combine, despite the drive in
their behalf by Councilman Edward
B. Raub.
Passage of a resolution request
ing City Controller William c. Buser
to present an ordinance providing for
a bond issue to provide funds for the
fight was the only action taken. The
amount was not specified.
Cut Demanded
Indianapolis will insist on reduc-
ton Of $45 5,2O2.1O in the city's light
bill for the last nine months Of
1926, submitted by the Merchants
Heat and Light Company, the board
of works decided Monday.
The Merchants company submit
ted a bill of 900, which failed to
consider removal of many lights or
dered by the board last March, mem
bers said.
No part of the bill will be paid
unless the reduction is accepted,
board members said.
Recently, Harley l.. Clarke, Chi
cago utilities baron, offered to reduce
the city's bill for 1927 from 100000
to $250,000, the budget allowance.