Clipping:Indianapolis Club finances 3

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Date	Wednesday, February 6, 1889
Text	The cost and profits of running a League base ball team are prominently brought to light by the financial troubles of the Indianapolis Base Ball Club. Each stockholder and guarantor of that club on Jan. 26 received a very elaborate and exhaustive printed statement of the organization's affairs, covering the entire period since it was bought from St. Louis, in March 1887, up to the time of the surrender of the franchise on January 21. This reveals the following interesting state of affairs briefly told in figures, which we all now never or hardly ever lie: Receipts Sale of stock................................................ $17,295.00 Sale of grand stand, personal property and assignment of lease................... 1.,000.00 Games at home in 1887.............................. $32,496.96 Games at home in 1888............................... 32,791.05 Games away from home in 1887................. 10,809.51 Games away from home in 1888................ 17,628.77 Sale of season tickets from 1887.................. 5,862.50 Sale of season tickets from 1888.................. 7,235.79 Sale of players' releases................................ 2,740.00 All other miscellaneous sources................... 3,243.83 112,808.41 _________ Bank loans.................................................... $42,775.00 Guarantors' loans......................................... 9,250.00 Mortgage loan............................................... 1,000.00 53,025.00 _________ __________ Total $184,128.41 Disbursements League franchise and annual fees............... $ 15,000.00 Salaries for season of 1887........................ $28,745.94 Salaries for season of 1888........................ 33,898.26 Percentage and guarantees to visiting clubs in 1887.................................. 10,932.16 Percentage and guarantees to visiting clubs in 1888.................................. 12,081.68 Purchase players' release............................ 6,126.00 New grand stand in 1888............................ 4,546.08 Expenses to grounds, permanent improvements, in 1888................... 722.19 Ground expenses, rent, etc., in 1887.......... 4,740.99 Ground expenses, rent, etc., in 1888.......... 4,077.70 Equipments (uniforms, shoes, balls, bats, etc) 2,521.82 General expenses (railroads, hotels, printing, advertising, etc.)............................. 26,779.07 135,171.89 __________ Payment of bank loans................................ $32,775.00 Payment of mortgage loan............................ 1,000.00 33,775.00 __________ Total................................................... $183,946.89 The indebtedness at this time is as follows: Amount due directors, secured by first lien on franchise $10,000.00 Amount due guarantors.................................. 9,250.00 __________ Total.................................................... $19,250.00
Source	Sporting Life
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Submitted by	Richard Hershberger
Origin	Initial Hershberger Clippings

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