Indianapolis Water Works W. A. Pickens, corporation counsel for the City of Indianapolis, Ind., has indicated to the State Public Service Commission that on behalf of the city he will ask a reduction of water rates in the near future. The rate question grows out of a petition recently filed with the commission by the Indianapolis Water Company, in which the latter asked permission to divide in capital stock $600,000 in accumulated surplus. The commission took the petition under consideration and ordered a physical valuation of the plant. Experts are now making this valuation and as soon as the figures are in the City of Indianapolis will probably start a fight for lower rates. The Indianapolis Water Company enjoys a monopoly in its field and has about $17,000,000 securities outstanding.