Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1873-06-17
CENTRAL PACIFIC RAILROAD.

-
Regarding the proposed transfer of
the Central Pacific Railroad from
Messrs. Huntington and Hopkins to
Messrs. Sharon, Mills, Reese, Cohen
and others, which the telegraph yes
terday announced as consummated,
the Alta California has the following:
"By' this arrangement the Central
Pacific Road and all its affiliations,
except the Southern Pacific, becomes
a San Francisco property. 1t will be
uuder the control OF gentlemen whose
large fortunes, the results of their busi-
ness abilities, enterprise and will. are
identified with this city. They are the
largest real estate owners In this city,
and the future value Of their individ-
ual possessions Is identical with the
prosperity Of the city Itself. The pub
lie have thus a guarantee As 1t were a
bond and mortgage that the road will
be conducted In the interest of the Pa
cif1c Metropolis. New York, with Its
vast commerce aud immense swelling
wealth, has rightfully controlled the
Eastern roads which concentrate upon
It's bay, and San Francisco, which, in
point Of imports and exports and du-
ties paid to the Government, Is the
fourth city of the Union. and the first
on this coast. o r!ghtfully assumes
control Of the western terminus of the
great trunk line which spans the con.
tinent. The future arrangements I'M
der the new combination are not yet
promulgated, but it Is quite certain
that whstever they are they will be the
best for the commercial interests OF the
city.
There Is no doubt but that IL the
Central Pacific railroad has become
the property OF the gentlemen above
named, good results must accrue to
| Nevada as we'll rs California. The
largest owners in the new combination
are very extensively interested IN the
mines Of Nevada, AMI especially those
Of the Comstock ledge. 1t will be OBJ
yiously to their interest to favor devel-
opments in this region, to reduce
freights to as low a scale as possible,
thereby stimulating business activity
both in tho mines and the sources
whence their supplies are drawn. The
most important point in the transfer.
as we view 1t, seems to be the owner
ship of this great lire by men Of the
Pacific coast, who are Identified with
its people, and whose interests are in
timately connected with our business
prosperity. 1t is we'll known that a
great efforthas been made by Eastern
capitalists to obtain control Of the
whole line from Omaha to San Fran
cisco, and notably so by Vanderbilt,
who, it was recently reported had
already secured the trunk line to Og-
den. Horace F. Clark, a son-in-law
of Vanderbilt, is President Of the
Union Pacific; Vanderbilt owns the
Hudson River, New York Central and
Lake shore lines. All that was neces.
sary for q through line was to obtain
one OF the three lines from Chicago to
Omaha. A few days ago 1t was re-
ported that Mr.. Clark, President Of
the Union Pacific, vas to be President
of the Chicago and Northwestern.
This would complete the line to Og-
den, and the further control Of the
| Central Pacific would place the BUSH
ness Of our whole coast completely at
the mercy Of Eastern men, with inter-
ests distinct from and In opposition to
those of the Pacific slope. OF course,
whatever affects San Francisco and
California, m%easurably influences the
business Of Nevada. The press Of San
Francisco are generally well satisfied
with the proposed change of control
In the Central Pacific, and 1t appears
to US that 1t cannot but beneficially af-
feet the whole coast. The we'll known
superior business abilities of the new
combination assure us that, il success
full management Of so great an enter
prise will benefit the people Of Nevada
and California, under the new admin
istration the resources of the country
will be developed with increasing &C
tivity and mutual benefit.