Jasper County Democrat, Volume 13, Number 75, Rensselaer, Jasper County, 4 January 1911 — PROMOTOR GETS BACK STOCK. [ARTICLE]

PROMOTOR GETS BACK STOCK.

Hammond Subscribers For Purtelle Railroad Stock Ite-nigging. The Hammond Times of Saturday says of the present status* of the Purtelle railroad scheme, for which a subsidy was recently voted in Rensselaer and Marion township: “It is understood that Eugene Purtelle, the promotor of the Northwestern Indiana Traction company, has sent to each of the Lake county stockholders blocks of stock according to the amounts they have subscribed; but that in each case they have sent the stock back to him. ‘ “They have done this for the reason that they have been advised by their attorneys that they will become iiable for the liabilities of the company if they do not do so. “As the liabilities now exceed by a large figure the assets of the company, and there seems to be little likelihood that the project will succeed under the present management of the company the stockholders are willing to suffer the loss o? the amount they have subscribed - for stock rather than shoulder their proportionate share of the indebtedness of the company.” All the news in the Dtirtiocrat.