Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1889-02-14

REAL ESTATE AGENAS.
River, Harbor, Canal Dredging
and Land Company.

The company actually possesses 1900
acres of the richest alluvial land lying along
the bay of San Francisco, from Alyarado
to Alviso, distance of seventeen miles.
The title TO the land has been derived from
the State. If ever great enterprise was
started on stable basis, this certainly gives
evidence of being one. There is nothing at
all visionary about it. The whole enterprise
is founded on a substantial basis, and the
aim can certainly be successfully carried
out, judging from the best precedent, and
result to the stock holders in very large
financial benefits. Besides this land The
company owns the patent right for the en-
tire territory of the United States in the
Sternwheel Dredging and Hydraulic Dirt
Conveying Machinery, invented by A.
Boschke, Q. E. Both these are great inn
provements on past appliances, and they
are the result of Mr.. Boschkes experience
during twenty i've years in dredging oper-
ations. This dredging plant will be built
as soon AS probable contracts offer and
will earn, when employed at the lowest
ruling prices, 81 coo per day. 1t is adapted
for levee building and for filling flats
and lowlands; the excayated soil can
be transported through pipes by means
of the hydraulic dirt conveyors to a dis
lance of g mile under pressure of powerful
force pumps. This advantage will give the
dredge employment in preference to others,
when works like the filling of China slough
can be done cheaply by dredging the soil
from the river and conveying it through
pipes TO the ground 10 be filled. A wide
Of lr.li Gov .
the creation of water fronts for shipping.
where greater depth of water is required,
and the dredged material is used to raise
the land for building purposes. In this re-
spect the company will have use for this
dredging plant at portion of its property
known as Dumbarton Point, which is
destined in the near future to become a
shipping point and the terminus of several
transcontinental railways Dumbarton
Point is situated about central of the COM
pany's lands, on the east shore of the bay.
in Alameda county. 1t extends across the
wide expanse Of tide lands, and thereby
approaches the shore of the San Francisco
peninsula within mile. The main ship
channel from the wharves of San Francisco
extends to Dumbarton Point, where it is
half mile wide, with depth of water at
low tide of thirty-six feet, permit
ing tne AdISest sulpS 10 reacn
it. Here is also the only
feasible point where by bridge the trans
continental railway traffic can reach San
Francisco, when its magnitude will have
made il impossible to employ the present
method of ferries opposite the city, which
could not even now spare waterfront room
for such an extensive ferry system as would
be required.
With such natural advantages, this por-
ton of the company's property is destined
to become immensely valuable. 1t is ca
pable of having a Wharfage front of three
miles and several thousand acres to build
up the terminal of more than one railway,
warehouses, coal-bunkers and most extern
siye iumber-yards, and will offer induce
ments to large manufacturers to locate
their works where they can have plenty OF
ground, receive and ship by water and rail
to the markets of the world Who can es-
innate the value of that part of the COM
pany's estate? 1t is one of the rarest op-
portunities for sure and profitable invest
ment. Judlcious management dictates for
the present to develop that portion of the
companv's land which, by a small ex-
penditure of money, can be placed on
the market tor the uses of agri-
culture and is particularly suitable for
market gardens, strawberry culture and
alfalfa, OH account of the richness of the
soil and the abundance of artesian water.
which can be had at any point desired at
the mean depth of $50 feet. and which does
rise from four to five feet above the ground.
There are now nine flowing wells on the
company's land. The company has de-
cided and directed its Superintendent to
paepare 1900 acres in the southeast portion
of the estate by dividing it in 100 twenty
acre farms, digging irrigation and drainage
Gitches, boring artesian wells, one at the
common corner of four adjoining farms
also, a roadway, running east and west, be-
tween the adjoining lands. The bitches
will be seven and a half feet wide and four
feet deep on either side of the road, and the
soil from it will furnish the material to
raise the roadbed. The bitches will be dug
by steam ditching machine, and will be
provided with gates to regulate the height
of the fresh water in the ditch or empty it
entirely at lime of low tide in the bay and
renew it from the numerous wells By
this system of irrigation the crops upon
this land will be abundant and profitable
The South Pacific Coast Railway passes
through this tract, giving facilities to send
the produce 10 market, and in the near
future freight steamers will be running
from these lands direct to San Francisco,
securing low freights to the farmers.
Numerous applications for this land
have been made to the company to pur-
chase at 500 per acre, or for leases of
from IS to SIS per acre per annum. This
year, and will result in a revenue to the
stock holders, which will be paid to them
in dividends half-yearly
The capital stock of the company is
81 100000, divided into 100 900 shares CT
$40 each, and these are worcestershire, on
account of the company having incorpo-
rated under the laws of the State of Colo
RADIO.
Fifty thousand shares of the stock have
been issued in purchasing the 10 400 acres
of land and the entire rights to the dredges
and conveyor patents.
Fifty thousand shares of stock remain in
the company's treasury, the proceeds from
the sales of which will go into the treasury
to pay the cost of developing the enter
prise. With the expenditure of $50 900,
the company proposes to improve the
above mentioned 1000 acres; it offers to
sell 6000 shares of its treasury stock tor
IS per share, to obtain the funds to make
this Improvement.
In the company's prospectus is stated
and provided that its stockholders are pre-
ferred purchasers of the improved agricult-
ural land, for which the company will &C
cept in payment its stock at par value.
The purchase price for the first 1000 acres
will De 500 per acre, therefore 200 shares
of the company's stock will buy 20 acres OF
the land improved by bitches, roads and
supplied with artesian water.
The purchaser of this amount of stock
will thereby double his investment within
year, if he should choose TO purchase the
land in place of holding his stock to reap
the benefits of the final development. The
appreciation in value, probably manifold
of the par value of the stock and its earn
ings in dividends. must result from the
development of this enterprise. Subscrip-
tons for this stock will be received by the
Superintendent of the company. temporar-
lily stationed at Sacramento. where he will
give any desired information during the
hours from l to S and Z 10 p M