Pendleton Glass Tube & Pipe Works destroyed by fire had no insurance

Owned by Indianapolis Men.

The Pendleton glass, tube and pipe works, which were destroyed by fire Monday morning, were owned by Indianapolis men. The stockholders were Governor Matthews, Auditor of State Henderson, Deputy Auditor, of State Fanning, Leon Bailey, Fred Bailey, Joseph Littler and F. G. Guptill. Mr. Guptill, who was secretary and resident manager of the works, came here to consult with the stock holders. He says the factory was entirely destroyed, Them loss he estimates at $20,000. The company did not carry insurance. The insurance companies, Mr. Guptill says, asked about 5 per cent, for insurance, and the stockholders considered the rate so high that they decided to carry the risk themselves. The company had been in operation only two years, and was, Mr. Guptill says, doing an excellent business.