Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1880-01-19
CITY RAILWAY MATTERS.
Y. L. Pritchard Leaves the State. q.
Miller Left in Full Management.


W L. Prttchard Leaves the State-J Il.
Miller Left in Full Management.
Learning on Saturday evening that W. L.
Pntchard had recently contracted disgust
for Sacramento, and without ceremony left
the State, intending to make his future home
at Denver, Col, j. H. Miller, Secretary OF
the City Railway Company, was called upon,
and, in answer to questions, freely made the
following statements:
QUESTIONABLE. Miller, it is stated that Mr..
Pntchard has left the city not to return.
Can you give any information upon this
point?
Answer-It is true; he has gone to Colo
RADIO, and his return is uncertain.
On what condition does this leave the
! street railway matters?
| Al am left in full control Of the affairs
Of the company.
| Q.-What present interest has Mr. Pritch
ard in the company?
Ale owns about seven-eishths of all the
| stock OF the railroad corporation, and beyond
/ this has paid off an indebtedness of $50, GOO
/ which was held against the company, no part
/ VI WHICH mas DeeN IStJdlu 10 HlLl-
! Q-Nhat, in your opinion, will be the
! effect of the present suit instituted by stock
! holders against the company!
Alt is mere farce. We can and will
make a proper showing Of every dollar re-
! ceived and expended during the present man-
/ agement of the road, and which Will fully
! speak for itself and show an honest straight
/ forward administration OF the company's
affairs.
Q.-To whom do the new franchises of the
roads belong, that Is, the Second street, be-
tween X street and the depot, and the pro-
/ posed cemetery line?
A.-To Pritchard x Miller. These we own
ourselves and we also own the car depot
property at the corner of Twentieth and X
streets. and we also own all the recently
granted charters, being those on X from Tenth
to Twentieth streets, and ON Ii front Twen-
tieth to Thirty-frst street.
Q-What are the facts about this J. H
Downer mortgage which is termed fraudu-
lent transaction!
A.-Wel, when Pritchard bought con-
trolling interest in the road the Pacific bIu-
tual Life Insurance Company held a deed of
trust upon all the railroad property for $685.,
600. Some time afterward the insurance COM
pany wanted its money and Mr.. Pritchard,
in order to prevent a sale OF the road under
the trust deed, personally assumed the debt
and raised the money to take up the trust
deed by giving a mortgage upon 5000 acres
of land IN another part OF the State. Upon
Mr.. Pritchari's taking up and canceling this
deed of trust against the company, the COM
pany executed mortgage upon its property
for the amount he had paid for the company
to the Pacific Mutual. When the mortgage
was being executed, 1t was advised by coun-
sci that inasmuch as Pritchard was an officer
Or niractor in this road the rroDar wav
would be to execute the mortgage formally to
some outside PARTY and have him at once as
sign it back to Pritchard thus avoiding any
legal deficiency in the transfer which might
be held to arise from Pritchard's official con-
nection with the road. Acting upon this ad-
vice, the company executed its mortgage to
J. II. Downer, who was present at the time,
and who at once assigned it over to Pritch-
ard. This was the whole matter, and the
only reason that Downer's name was used in
connection with it.
Q.-What was Mr.. Pritchard's object in
tearing up the O-street line just at time
when there was no judicial power existing in
the State?
Ale took that occasion with knowledge
of that fact, intending to abandon that part
of the line for the reason that at best it did not
pay expenses, and the necessary street repairs
and Improvements during the next two years
/ Il =,
he thought it would be cheaper to abandon
that part of the road and refund the subscrip-
'ton ~ - on; an -
u 'il5-' Pr NJ Ito'' " r.; L.
:. 81
81 NJ .t 90
the o street route
Al intend to relay at once the portion
removed, and operate it as formerly.
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