Los Angeles herald., 1891-05-09
THE RAILROADS..
THE TERMINAL COMPANY AND IT'S
BIG ISSUE OF BONDS.
The Bonds Taken at Par in London-worlr
on the First-Street Depot-Another Salt
Lake Road-Notes.

CluslVely IeporIeu III tne HERALD. In
thirty days time, the work of construct
ing the depot and round-house will COM
mence. sa
The credit of this company appears to
be rated A No. xxx on the London
money market. On July 11th the stock
holders of the company will hold a
meeting for the purpose OF bonding their
road to the extent of one and half
millions of dollars, the bonds to bear
only 5 per cent. interest. The fact is
worthy OF note that the total issue of
these securities have already been
placed in London at par. 1t is also of
interest to learn from General Manager
Burnett that this money will be expend-
ed in and about Los Angeles.
The May number OF the Railway Age
contains well-written account OF the
Santa Fe's roads in Southern California,
by III. r. Hobart, the editor, who spent
some weeks here last winter. An ex-
tract from the article reads as follows:
'sThe Southern California system of
the Santa Fe company is under the di-
rection, as general manager, of Mr.. X.
III. Wade, whose reputation as for many
years general superintendent of the
Wabash railroad isvery widely extended
and justly great. There are very few, If
any, better operative railway men in the
country than he, and the Santa Fe was
fortunate in securing his services. Mr..
Wade also considers himself very fortu-
nate in this position, which he hae now
occupied only about year and half.
He has, he says, "a little kingdom of
my own,' situated in delightful
country with well nigh perfect climate,
and being in large sense Independent
OF all the rest of the railway world. The
officers OF the parent company in the
east have full confidence in their gen.
eral manager at Los Angeles, and he
carries on his operations with
very little interference or over
sight. AS the president Of the
Santa Fe system has his Office some
2500 miles away, and the chief owner
ship OF the property is located q thou
sand miles still further east, it is neces-
sary to have in charge of their Califor-
mia lines man in who's ability, good
judgment and faithfulness there can be
implicit confidence, and this is emphat-
ically the case in regard to the present
general manager"
ANOTHER SALT LAKE ROAD.
Mr.. j. F. Corker, of Salt Lake City,
was seen in the city yesterday by a
HERALD reporter. He stated new line
OF road was being built towards this
city from Salt Lake. The company is
represented by the Barren Brothers of
the American National bank, of that
city, but it is understood that they rep
resent certain eastern men. The first
objective point of the line will be the
Deep Greek mines in White Pine county,
near the Utah line. There is sixty
mile desert between Salt Lake, and
those mines have not been developed on
that account. They are very rich, and
will furnish large amount of freight.
1t is understood, Mr.. .sCorker says, in
Salt Lake that the road will come to
Los Angeles. 1t is backed by moneyed
men, for they recently paid $150,000 for
a ten-acre block in the city for depot
and terminal facilities.
SOUTHERN PACIFIC TRAIN AGENTS.
About month ago the Southern Pa
cific company put ticket agents on the
trains running from this city to Bakers
field, says the San Francisco Chronicle
of Thursday, and on the Visalia and
western divisions. The reason was that
the company suspected that much
travelling was being done for which the
conductors only were receiving the pay.
For month the experiment has been
tried. The result is that many more
tickets have been sold than were hith-
erto accounted for and the receipts in
cash from those who buy tickets after
boarding the trains have been increased
from rs to 100 per cent. On certain
runs, where the receipts have been form
erly 5000 the train agents have turned
in $3.50. In view of these discover
les the company has decided
to extend the employment of
train agents to the entire system.
These men will be paid 500 amonth.
whereas the regular conductor receives
$135, and their duties will be confined
to tie collecting of fares between points
where no tickets are issued and for the
sale of tickets to people who board the
with tickets. People who have travelled
a number of miles hitherto by tipping
the conductor will now be unable to
avail themselves of his kind services. A
number of conductors have already sent
in their designations from the service.
J. b. Lauck has been appointed super
intendent OF the train agents, with of
fees at Fourth and Townsend streets.
A similar service was tried three years
ago on the Santa Fe, but was not sue
cessful, as the train agents gradually
dropped into the very tricks which they
were intended to check.
NOTES.
Some of the people of Riverside are
opposing the proposed extension of the
Polk motor road from Cotton to the
Riverside packing houses. 1t is claimed
that the granting of the franchise will
result in serious damage to property own
ers; that it will interfere seriously with
the delivery OF oranges. 1t will not save
any freight, but will simply benefit the
Southern Pacific, which has not been a
friend to Riverside. "Citizen," in the
Riverside Press, thinks the granting of
the franchise would be an iniquity.
The Terminal has nine miles of road.
bed graded this side of Rattlesnake
island.
Four locomotives and ten coaches and
a number of freight cars loaded with
steel rails are ON their way from the
east for the Terminal company.