The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-12-11
WE ARE NOT
FIxED,' ASSERTS
insult BACKER
Rappaport Urges City Take
Up Utility Move to Buy
Street Cars.
Continued from Page

same thing insult proposes to do"
he continued. Get your pencil out
and you'll find those things.
IF the city can't do it, there Is
no better man than insult, who will
put in very efficient system at a
very high cost"
Mckinney then declared the city
later may discuss public owner
ship.
Wed like to make deal on the
present franchise" he concluded.
IF we can't do 1t we can quit and
start over again like any other
business deal"
Reviews Financial Setup
Hornbrook's opening statement
was preceded by presentation OF a
resolution of the Merchants Asso-
citation Of Indianapolis stating de-
stability of proceeding promptly,
although cautiously, with negotia-
tons. The Indianapolis Clearing
House Association also favored this
course.
Hornbrook limited his statement
to a review of the financial setup
Of the street car system. adding that
it was a serious problem, mot to
be solved by sitting quietly by"
and that the insult organization
should be guaranteed operating ex-
penses and a fair chance.
Il have not been fixed nor has
any other attorney or business man
on the committee" Rappaport said
in the first part of his prepared ad-
dress. "Our integrity is such that
can not be questioned and profess
sional advice is needed on prof.
ect of such magnitude.
In praising insults ability Rap
paport said there are few concerns
with the money and vision to take
over operation of a company Of this
kind"
Cant Find ANY Horns"
Il do not have the pleasure Of
personally being acquainted with
Samuel insult" Rappaport declared.
II have seen photos of him and have
not been able to discover any horns
or hoofs."
He Endorsed the proposal as the
only one now giving the rights Of
the stockholders any consideration.
He said receivership would mean
humiliation Of present Stockhold-
ers.
On municipal ownership, Kappa
port said there were many views,
but this was useless to discuss be-
cause the city now was unable to
take such a step.
you can see that II this problem
is not solved with dispatch that the
city may face an embarrassing tie
up of the chief transportation
facilities" he said. ct believe the
franchise should have your favor
able consideration"
Chase Supports Whole Plan
Chase supported the entire plan,
pointing out the necessity for the
indeterminate franchise to give the
company fair chance and return
on the investment. He said the
service-at-cost proposition was the
only one that guaranteed their
company and stockholders safe re-
turn.
He guaranteed that the city and
company both would profit under
the arrangements as we'll as the
street car rider. He drew a picture
OF fast service, new cars and eff
cheney that, he said, would be
placed in Indianapolis by the COM
pany over a five-year period at only
a per cent increase in fares
annually for the period.
He said Indianapolis was particu-
larly hard hit by the fall of trans
portation utilities in the last few
years and said capital feared such
investments"
"If arrangements that protect our
investors can not be made, we will
drop the enterprise" Chase said. IL
hope we can reach the common
goal"
Belt Line Is Proposed
He outlined the advantages to the
city Of control Of the utility through