The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1928-12-19

trustees OF In6 utility, dIJOI-
neys, city officials and civic
leaders were unanimous in
their opinion that the city and
not stockholders, have claim to
the property, at a discussion at
the Chamber of Commerce
luncheon Tuesday.
Robert Lieber, a gas trustee,
assured the group thatsthe board is
friendly to the city's cause and
eager for conferences for the good
of the public.
Definite announcement of the
Slack administrations plans are
expected to be forthcoming as soon
as legal technicalities are thraShed
out. Hoffman is considering sug-
gestions submitted to the city legal
department on proper procedure.
May Retain Special Counsel
1t is likely that special counsel to
aid in the city's fight will be re-
tanned. About $4,000 is available in
the 1929 budget through the mayors
contingency fund.
Hoffman, William H. Thompson,
attorney for gas trustees, and the
chamber legal affairs committee,
headed by James w. Noel, will con-
fer on legislation deemed wise to
protect the citizens interest. Early
action on proposed legislation, so
the general assembly will have
ample time to study the proposal,
was urged.
1.-THE question before the city is
the proper course to pursue. There
are at least two plans for the city to
take over the gas properties. One is
for the city to take it over directly
and the other is for the trusteeship
to continue under the indeterminate
permit from the public service COM
mission" Hoffman said.
MANY question arise over whether
the city has the right to proceed
now or at a later time. These are
matters which I believe Should be
determined by the administration in
the near future. I am not here to
say that one course or another
should be followed.
Attitude Is Clear
eff it is found that the proper
method is under the public service
commission, the commission will be
bound by contract which fixed the
price which should be paid when
the city takes over the company.
The administration has awaited
some expression from the trustees.
Now that their attitude is clear, we
are glad for the expression.
I'VE now must formulate some
plan and I assure you that nothing
will be left undone to save this
property for the citizens, to whom
it rightfully belongs. This property
has been managed wonderfully and
has grown in value. Every safe
guard was taken by those who drew
the citizens agreement to avoid any
error similar to the one made in
the Consumers Gas Company con-
tract" Hoffman declared.
Robert Lieber said, on behalf of
the trustees, that 1--WE hold, and
definitely so, that the city has the
right if it so chooses to purchase
the 100000 of common stock at
par value Of $25 a share"
Held as Public Trust
"I think you'll grant the trustees
went farther than it was dreamed
possible in saying that, regardless
of whether the city purchases the
stock, that the property will con-
tinue to be held as a public trust.
IF I were to make a recommen-
dalton to this committee, it would
be to determine how tie Citizens
Gas Company best can be preserved
for the future use for which it origi-
nally was formed. This property is
worth millions more than the debts
against it. 1t is looked on with
greed by some who do not have
the city'S interest at heart.
"It is my hope that, in event it
is turned over to the city, it will
be managed under the city man
ager government and grow the same