Indianapolis Times, Volume 47, Number 259, Indianapolis, Marion County, 7 January 1936 — Page 20

PAGE 20

GAS DIRECTORS PLAN NO LEASE RENTAL ACTION City Has Not Notified Firm Officially, Says Treasurer. Directors of the Indianapolis Gas Cos. contemplate no immediate action regarding the city utilities district's notice that it would cease paying property lease rentals after March 9, according to Arthur V. Brown, the firm's treasurer. "We have received no official notice from the ctty and there is nothing to report at this time," Mr. Brown said yesterday. While stockholders of the Indianapolis Gas Cos. are reported to have engaged Newton D. Baker as their attorney, Mr. Brown said as far as he knew bondholders of the firm had retained no counsel. Lease Status Questioned A court fight has been threatehed to determine the status of the 99year lease entered into in 1913 between the Citizens Gas Cos. and the Indianapolis Gas Cos. under which the latter paid the former a yearly sum equal to 5 per cent on the bonds and 6 per cent on the stock, plus property taxes and upkeep. When the city acquired the property of the Citizens Gas Cos. on Sept. 9 it refused to accept the terms of the lease but agreed to pay a sum equal to the contract amounf for six months pending arrangement of a settlement. The resolution of the directors of the Citizens Gas and Coke Utility was adopted Friday. Appraisal Being Made It states that while "negotiations have beeu commenced but have not been concluded nor have they progressed" the board resolves that "the arrangement for payments for temporary use and occupancy of the property of the Indianapolis Gas Cos. be not continued after March 9. The firm of Ford, Bacon & Davis, utility engineers of New York City, are making an appraisal of the Indianapolis Gas Co.* property. Terms of any settlement may depend largely on their figures, it is understood. A report made to the utilities district directors recently by a Cleveland engineer, W. E. Steinwedell, called terms of the lease “too high." New Terms Necessary New terms must be made on the Indianapolis gas lease by March 9, or revenues of the company will cease, under the resolution, it is said. Should no agreement be reached by that time, the city could institute condemnation proceedings and take the properties at the condemnation price, it w'as pointed out. District feel they would rather end the lease than contract anew one. because the additional revenue bonds, over the $8,000,000 already sold, could be marketed, it is said. The interest on the additional bonds would be less than the yearly cost of any lease, the directors point out. Company Holdings The company has $2,000,000 common stocks and $4,000,000 Indianapolis Gas bonds, and utility directors feel that a revenue bond issue of $7,000,000 or less might be sufficient to acquire all the holdings of the company. The Indianapolis Gas Companylease now costs $584,256 a year, or an expense of 19 cents to the customer on each thousand cubic feet of gas, according to the Steinwedell report. A saving of 10 cents a thousand cubic feet to the customer is planned for the Citizens Gas ft Coke Utility. Injured by Lion; Dies Bij Tailed Press ROCHESTER, Ind., Jan. 7.—lnjuries suffered when he was attacked by Sampson, a 500-pound male lion, caused the death of Jack Lawson, 23. animal attendant at the Cole Brothers-Clyde Beatty Circus winter quarters.

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THE INDIANAPOLIS TIMES

5 DANCES PLANNED IN ROOSEVELT FETE Parties to Be Limited, Is Committee Ruling. The President's Birthday Ball Committee started organization today of individual commutes to arrange five parties Jan. 30 for the benefit of the therapeutic pool at Riley Hospital and Warm Springs Foundation. Official approval will be limited to the same five balls held last year Stop That Cough Before It Becomes Something Worse Stop it (lest others—msvbe. the children—* catch it) by the ‘‘quiekest-bv-test" way with the famous FOLEY'S HONEY A TAR (now intensified with 0 other speed ingredients that also help correct cause). Instantly relieve* tickling, hacking, spells of cougning and expectorating. Spoonful at night insures sound, eough-free sleep. No habit-forming, stomachupsetting "dope." Ideal for obitd-en, too. Refuse substitutes and delaved reooverv. Only FOLEY’S HONEY A TAR ean do what FOLEY'S HONEY A TAR does. At all druggists, only 30c. Get a bottle today sural —Atlv.

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| ENGINEER DIES AFTER ACCIDENT AT SHOPS Nathan J. Bowne Was Scalded and Shocked Dec. 28. Funeral arrangements were being made today for Nathan J. Bowne, 67, of 3901 Spann-av, who died last i night in St. Vincent's Hospital of injuries received in an industrial accident Dec* 28 at the Hawthorne shops of the Pennsylvania Railroad. Mr. Bowne, an engineer, was scalded with live steam, shocked by | electrical current and thrown from I the scaffolding on which he was

working when a boiler gauge exploded. He was born in Arlington and had lived in this city 45 years. Surviving are the widow, Mrs. Emma Bowne; two sons, J. Rov and Frank

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J. Bowne; three daughters. Mrs. L. Evelyn Pollock. Mrs. Mary E. Richey and Miss Esther Bowne and six grandchildren. Deputy Coroner John Salb is ini vestigating the accident.