Indianapolis Times, Volume 34, Number 228, Indianapolis, Marion County, 2 February 1922 — Page 9

TO THE PEOPLE OF INDIANA THE TRUTH ABOUT THE “MERGER”

Down through the ages has come Progress. Her march has been one of intermittent stops and starts, but always has she gone ahead. Her steps occurred only when her handmaiden, Truth, was forced to leave her side. Truth has been forced to leave Progress only when those who tore her away failed to understand that Progress leads the way to Prosperity and Happiness, and that she can not lead that way without Truth. Progress has led our city and our state to their present place, but she still has far to go. Her forward movements can only be made when Truth accompanies her. Let Truth regain her side and all is welL Every community is limited by several things. When that community reaches its limit in Transportation, for example, its progress stops. When Power is consumed to the limit, there is no further road upon which Progress may advance. Indianapolis and Indiana have, under the present conditions, reached their limit in Power. To enable our community to build more factories, we must look elsewhere for our source of power. We have utilized the water of White river to its capacity for condensation purposes. If we do not offer sufficient power facilities to the manufacturer we can only expect him to go to other states for location. Indiana offers too many other advantages to the manufacturer to let her suffer for want of adequate power facilities. To build a power plant, literally at the mouth of the coal mines of Indiana and also where sufficient water supply may be had, has been the object of the consolidation. Here coal can be converted into current and distributed through a copper wire where, before, long trainloads of coal had to be sent many miles at a great expense and with tremendous wastage, to be converted at the point of consumption. Nor is this an experiment It is a proven thing. The Colfax station, supplying Pittsburg, the steel center of the United States, furnishes power from energy made and distributed under just such circumstances, and for a considerably less cost than the old system involved.

Engineers estimate that power can be manufactured at the proposed plant at a much lower cost than the cost of the present production. The present plants will not be scrapped. They will be utilized to their capacity. However, the low cost of production at the new power station will reduce the bulk cost of current so much that Indianapolis and Indiana may not only have more power as needed, but have it at a reduced cost. Coal shortages, such as we have experienced in the past, will now have no effect upon the production of power at the new plant, as such shortages have been caused by things

INDIANA ELECTRIC CORPORATION

HSDIAJNA DAILY TIMES, THURSDAY, FEBRUARY 2, 1922.

other than the lack of supply. There is plenty of coal in the ground and, with the ability to utilize that coal on the spot, the supply is assured. It was found, upon investigation, that there are several cities in the state of Indiana laboring under just such circumstances as those faced by the city of Indianapolis. To build the proposed plant, money was necessary. The only thing to do was to consolidate the various holdings into one big company that would be able to build and operate a plant large enough to supply both the immediate and the anticipated demands of these various cities. The large capacity of the plant, as well as its location, will lessen the cost per power unit To accomplish this consolidation, the data was placed before the Public Utilities Commission. Before them were laid the facts and figures of the case The opposition had the opportunity to place before that commission such facts as they thought would show that the consolidation would not be of benefit to the people. The commission reviewed all of the facts and approved of the consolidation. While there was opposition, we do not question their motives. They were really sincere. We have no quarrel with those who opposed the movement As we said before, they thought they were doing the thing that would benefit the people. They were either misinformed or they had failed to see the thing in its true light A community profits by the progress made within itself. Neither a backward movement nor a standing still will improve the living conditions of the residents. Progress must move on. The evaluation of the consolidated properties was made by a corps of engineers selected from the best in the United States. These men made an exhaustive study of the value of the properties. Their report submitted to the commission, was the basis of the approved issue of the securities. There has been no overvaluation of property. There has been no idea of watered stock. The value of the properties and the amount necessary to build the proposed plant, warranted the issue of a certain

The sole purpose of this advertisement is to acquaint the people of Indiana with the truth concerning the consolidation or the several public utilities recently approved by the Public Utilities Commission, so that they may be better able to judge as to its merits.

amount of securities. This issue was based upon actual valuation. A public utility benefits only as it serves its clients. To serve its clients well, means success for the utility. These are the facts. Let us allow Progress to wend her way toward that goal of Happiness and Prosperity. Let us not allow her handmaiden, Truth, to be dragged from her side. Remember, without Truth, Progress moves not one step forward. We, of the state of Indiana, have reason to look forward to a brilliant future. We have many things of which we may well be proud. Let us not be held back by the lack of knowledge of that one great thing, without which Progress stands still —Truth.

9