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DEAL FOR HOME BREWERY CLOSING:lt;i►tPRICE TOPAID NEARLYOptions On■d FairbanksAmerican Bi44ftMan Behind the ThroneNinety-day options have been secured through New York financial agents on tsvery share of the $198,000 stock of the Home Brewing Company of this city, and nearly all of these options are at 200, making the cost of the property close to $400,000.This marks the closing of a deal which Will divide the brewery Interests of Indianapolis into two camps, for it is understood the new deal involves the joining of interests of the Home Brewing Company and the American Brewing Company. It is further whispered that Crawford Fairbanks of Terre Haute is the man behind the throne in these negotiations, although the people interested profess to know nothing of this.While 200 is apparently a high figure for the stock of the Home Company, yet it is not regarded so when the earnings of the brewery in the decade of its existence are considered. It has been paying dividends of from 6 to 7 per cent, a year right along, and even in the first few years of its existence it paid off $50,000 which it borrowed of the late William P. Gallup when it began business. In the meantime, besides paying dividends, the brewing company has spent at least $100,000 in betterments, until now the plant is one of the most modern and best equipped in the West.Deal On For Months.The big deal for the purchase of this iplant has been on for months, but on account of a provision in the by-laws of the •company, it was necessary for the purchasers to obtain control of every share of * . ' *stock before a purchase could be made. While the details of the deal were not apparent, the increase of the quotations in this stock, as shown in the list of local securities quoted by The Press, have indi-flt;sated that something was on. While otherafternoon papers in Indianapolis havebeen quoting this stock at 130 bid, The ' ppress has been quoting it at 148 bid-^and ;brokers have noticed thin discrepancy, but The Press was giving the actual condition of the local securities market, while other papers were taking a list from one man. The Press recently has not vouchsafed any “asked” quotations, because no one has offered any of the stock for sale at any price. One of the very largest stockholders sold 100 shares within the last ten days at 350.Options To Be Closed At Once.While the options on the Home brewery do not expire until June, they probably ^111 be taken much earlier than this in ! order that the brewery may pass at once into control of the new owners*. It is saidthat SchaT pbeyJacn t of U*e fAmerican Brewery, h^vceeti watching the negotiations with considerable -Interest, but whether the interests he representsarc purchasing the property, or whetherthe buyers also intend to take over the American Brewery was not definitely as-'certained this afternoon. The Home Brewing Company also owns Germania Hall, on which it has expended $25,000 in improvements within the last year.The Original Investment.When the Home Brewing. Company wasorganized, nearly ten years ago, .the stockwas divided into 2,000 shares of $100 each,making the capital $200,000. All the stockexcept $2,000 was subscribed. Besides thecapital stock subscribed, .the company borrowed $50,000, which was soon paid off. The brewery itself cost about $250,000 to build. Everything is up to date about it. William P. Jungclaus is now president and Andrew Hagen secretary-treasurer.August Hook is brewmaster. The stockholders have found their original investment an excellent one.Political Effect of Deal.There is considerable surmise as to the effect this new deal may have on local political affairs. It is known to' every one that the Indianapolis Brewing Company, which is controlled by Albert Ideber, is at outs with the Taggart .administration.Mr. Lieber is now a member of the Columbia Club, a full-fledged Republican, and doubtless will use all his forces to fight the mayor if he is a candidate for re-election. On the other hand, Mayor Taggart has lost no lose for Mr. Lieber’s brewing interests, and it has openly been charged in many quarters that the Police Department has been very kind to the Terre Haute Brewing Company, which is represented by Crawford Fairbanks, a close friend of the mayor. It is supposed that Crawford Fairbanks, as usual, will make a hard campaign for Taggart if he is the nominee of the Democratic party this fall, which seems probable. If Mr. Fairbanks is back of the crowd purchasing the Home Brewing Company, the forces dominated by this brewery doubtless will rally to Mr. Taggart’s support. However, the exact effect of this remains to be seen. It has. been known for some time that Mr. Fairbanks was figuring on some brewery deal, but it was not known exactly where. The Indianapolis Brewing Company stock is held largely in England, where it was sold to a syndicate yearsiago. A fewT shares are owned here, and itis reported that Albert Lieber has bought a number of shares recently. *In connection with the-sale of the Home Brewing Company, it is a matter of some interest to call attention to the local securities column on the market page of The Press,-the quotations of .which are obtained by the market editor of The Press* and are not obtained from one broke: or subject to a broker's control. In re cent months the lowest quotation 01 Home Brewing Company’s stock in Th Press ranged from 140 to 145, and recently this has been higher. w’hile in other afternoon papers last Saturday the stock w quoted from 330 to 140. The-Press was 18 points higher in its bid, without offer-* ing any asked price, because there was none. While in the list in another after' noon newspaper, Merchants National Ban stock is quoted at 135, The Press show’e* 136 bid, which was based on an actual sal of seventy-five shares. The Press alslt;» has quoted Capital National Bank stock at 135 to 140, while its contemporary quotes it from 12$ to 135. The Press investigated, and found its quotations were correct, actual sales and offers having been made. The Press also quoted the price on 100 shares of Belt Railroad common, which was sold at 90. In the other afternoon paper the figures are still standing, “bid 85, asked 87.” With the unusual development of business in Indianapolis in the last year or two, these local securities are playing an important part, and investors ore interested in actual disinterested quotations, which they have found in The Press.
Newspaper Details
Indianapolis Press
Indianapolis, Indiana, US
Mon, Mar 18, 1901
Page 1
Full Page
Clipped by
Ray K.
IN, USA 17 Mar 2021
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