The Albany register. [volume] (Albany, Or.) 1868-18??, 1875-01-01
nossihle. hnt if eold is found in narino

possible; but if gold is found in paving
quantities, the stockholders are discour-
aged by deceptive reports until induced
to sell out, or they are "frozen OUT by
heavy assessments, and the insiders get
possession of most of the stock. 1t can
then. by fictitious dividends on the one
hand. or suspending the development
on the other, be made to vibrate on the
market to suit the interests of the man
agement; there being, however, suffic-
lent element of chance in it to entice
outsiders to operate in it freely.
The grain trade of San Francisco,
which has become nearly equal in mag
nitude to that of Milwaukee, and, like
the latter, consists principally in wheat,
is conducted in very primitive man.
ner. and is mainly monopolized by one
individual. This is the more surpris-
ing, in view of the abundance of capi-
tai and the enterprising character of the
business men. The grain lis handled
entirely in sacks, containing about 100
lbs each, which are sewed up, and go
with the grain to it's final point of ship
ment. Nothing is allowed the farmer
or shipper for the cost of the sacks,
which varies from fifteen to twenty
cents each. was told by the manager
of the Central Pacific Railroad, which
company operates nearly all the rail-
road lines in the state, that by q careful
computation which he had made, it was
shown that the sacks for grain shipped
over their lines of road cost ninety
three per cent. as much as the company
receives for the transportation of 1T.
The grain is sacked in the field when
threshed, andi piled up on the ground,
where it remains until taken to market.
Large shed warehouses, varying In ca
pacity from 10000 up to 200, 600 bush
els, are erected at the railroad stations,
in which the sacked grain is stored and
TERED up until the owner desires to sell.
It is transported on platform cars, with
no protection whatever from the wealth
er. It was sorry sight, when the first
fall rains came on, to see train after
train of grain-laden cars, destined for
market, exposed to the drenching rain.
Grain is sold wholly by samples, which
are procured by boring the sacks with
small tryers. A large proportion is
bought in the country by agents of the
| Wheat King before referred to, and
what is consigned to the San Francisco
market for sale is mostly sold to him
there, at his Office, at his own prices.
He does not deign to visit the Produce
Exchange, and transactions there are
restricted mainly to the local require
ments. Shipping merchants and others
who receive foreign orders, execute
them by purchasing directly from him
at such prices as he may choose to
name.
As a counter movement to this mon
opoly, the Grangers appointed an agent
at San Francisco to receive and ship
their grain to Europe directly for the
account of individual members; a pro-
ceeding which, as might have been ex-
| IL a.
cerned. A constantly declining market
during four to five months voyage,
on successive cargoes, and large line
of freight engagements made for
months in advance of the requirements
of the business, serious decline subse-
quently occurring in rates, proved too
much for the revolutionists of trade,
and the enterprise collapsed, with
large deficit pretty evenly distributed
between all parties in any way connect
ed with it.
The bay of San Francisco, one of the
finest in the world for commercial pur-
poses, is really a small inland sea, ly
ing parallel with the ocean, and con-
nected with it by a channel from one to
two miles in width, and about six in
length, with depth of thirty feet of
water at the lowest point. San Fran
cisco lies on the west side of the bay,
and ON the south of this channel. The
bay, with its out.reaching arms, is
about seventy miles in length, and from
six to eight In width, with sufficient
depth of water. throughout its entire
extent, for the largest ocean vessels.
In some places on the Eastern shore,
however, long piers are required to
reach deep water. The Central Pacific
Railroad Company have constructed a
pier at Oakland, on the east side of the
bay, which is the terminus of their
road, extending two miles into
the water. All the railroad lines in the
state, excepting the Southern Pacific,
which runs directly into the city of San
Francisco, terminate on the opposite
shores of the bay; and ocean vessels
load at the several termini, and at other
places of Importance which skirt the
the bay. Several tributaries flow into
the bay, navigable for small steamers
to an aggregate distance Of two
hundred and fifty miles for those draw
| ing three feet of water, and distance
of four hundred miles farther for those
drawing fifteen inches. This gives a
large portion of the best wheat-produc-
ing region of the state water communi-
cation with San Francisco.