Indianapolis Times, Volume 40, Number 24, Indianapolis, Marion County, 8 June 1928 — Page 8

PAGE 8

PLAN TO BE UTILITIES SOON TO BESETTLED Power Traction Concerns Consolidation Program Is Explained. The showdown upon the plan to merge the Central Indiana Power Company and subsidiaries and the Terre Haute, Indianapolis and Eastern Traction Company and subsidiaries into the Indiana Electric corporation is due soon after July 1, a statement issued by Halsey-Stuarc & Cos., Chicago finance house, declared today. Halsey-Stuart & Cos. are readjustment managers in the handling of secuirties involved in the merger. The company discloses that it is sending a letter to certain security holders saying: “After the expiration of the twen-ty-day withdrawal period, the manager will check the securities of the various classes, which then shall be deposited under the plan and agreement as amended or otherwise assented thereto, to determine whether in each case there be sufficient to declane the plan operative, or whether a final abandonment is necessary. Consolidation la Planned “If the holders of a sufficient amount of securities then have assented to the plan, the manager anticipates the perfection at an early date of a petition of consolidation to be filed with the Public Service Commission of Indiana.” In the letter it also was made known that the proposals made by committee members at a meeting in Indiananolis late in April have been accepted by the readjustment managers. At that meeting the manager presented a change in the plans madp necessary by the continued decline in the earnings of the traction properties involved in the consolidation. This plan was rejected and a counter proposal was made by the committees representing the affect- | ed securities. This proposal has I been accepted. Get Preferred Stock The proposal provides that holders of the first mortgage bonds of three companies—lndianapolis 'and i Nortwestern Traction Company, In- I dianapolis and Martinsville Rapid Transit Company, and Indianapolis, Crawfordsville and Danville Electric Railway Company—are to receive j one share of Indiana Electric Corporation preferred stock, series A so reach SIOO principal amount oi bonds. That holders of the 5 per cent cumulative preferred stock of twe

yp-T-fj SJN:|A 21 South Illinois St. 21 South Illinois St. 2nd Anniversary Sal® GOOD HEWS TRAVELS FAST! The many peopie who took advantage of our last $7 sale of Wrist Watches have told their friends about these wonderful guaranteed watches, ind now by special request we are repeating this sensational offer! |J LADIES* AND_ GENTS’ la&rart?-*—*‘| Crown Levels Price Satisfaction A GENUINE CROWN VALUE-No Strings to guaranteed m ov e ment>. Plain and engraved NO PROMISES, BUT A WRITTEN VmKffifflßffiSwill GUARANTEE WITH EVERY WATCH! IjMOM V"]i’|o Note!—Do not purchase a watch until you have seen these watches—which are on dis50c Down!— s©c aWeek! •enuine Diimond I OPEN SATtfRDAY NIGHTS I Genuine Diamond Ring. - " ••••

companies—lndianapolis and Northwestern Traction Company and Indianapolis, Crawfordsville and Danville Electric Railway Company—are to ivpcive Indiana Electric Corporation preferred stock, senes B. on a par for par basis. In addition to giving those who have deposited an opportunity to withdraw if they desire, the readjustment manager announced that those who have not yet deposited their securtiies may do so at least until July 1 without penalty. On discovering recently that postage stamps, especially in the higher values, were cleaned with chemicals and illegally used again, the Celyon postal authorities suddenly issued six of anew design and had all the old types destroyed.

mtWtrTtrtsjA GE ARED -TO -TH E-ROAD 111 Quantity never makes quality. Using more rubber 1111 i jMjf ire tt> make a tire is good, but using better rubber Is fill 1 % | better. MILLER TIRES and TUBES are made of the £J j I j [ j best stock obtainable, which accounts for the un- ~ M|l | 1 Ml ui.il i SI.OO per week. __ /(if? Open an Account Today Tjiß Service OMPANY Sundays f^oW 3WSOUTH MERIDIAN ST Meridian at South Street

RECORD CLASS LEAVING ROSE Degrees to 54 Saturday at Terre Haute. * / Bn Timex Special TERRE HAUTE, Ind., June B. Rose Polytechnic Institute will graduate the largest class in its history Saturday morning when bachelor of science will be awarded to fifty-four men. Graduates are: * CHEMICAL Julius Rex Adams, Morris Guggenheim. 'Harold Hayworth, Melburn Heintg, John

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Isaac Mendenhall, Kenneth Metcalf and Harold Ames York. ELECTRICAL Theodore Lawrence Barrett, Hubert Smith Carmack, Claude Carlton Cash, Walter Thomas Davidson, Arthur Frederick Drompp, Frederick John Franzwa. Charles Edward Graves. Holmer E. Holmes, William James Houston. Wayne Kehoe Guy S. Mahan, Virgil Emerson Martin! James Leonard Montgomery. Edmund Bernard Murphy, James F. Pavne, Roy D. Reece, William Raymond Schauwecker, Carl Everett Slegelln, Jay Bartley Smith. Guy Henry Stallard, Harry Charles Stickle and Morris Vesley. CIVIL ENGINEERING Robert Francis Alexander, George Lee Berry, Harold Hendricks Carson, James Elmer Goddard. William Lester King, William Pinkerton Leake. John Winn Xeake John Gordon Lee Jr.. George J. Mason VslenttneJonesMltc.h. Andrew j\mes Nfhf. Hubert William Swartz and Robert Allison Thompson. MECHANICAL Alexander Bablllls Othel Scebrum Calhoon, Richard A. Clark. John Thomas ve & , Alf red Louis Kasameyer. Arthur Carl Reiser, Thomas Martin Reed, John Francis Shaw, Robert Frank Taggart Wallace Kirkum Todd. Benjamin Henrv kins Vactor and Wendell Alexander Wat-

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JUNE 8, 1928