Los Angeles herald., 1891-09-01
The Southern Pacific and Ter
minal Franchises Settled.
Latest Statements Regarding the
Cable and Electric Road Fight.
Santa MOnica's Council Meeting-What
the Magnates Are Doing In
San FrancIscO-News
Notes.

met last evening, and considered the
proposed ordinances granting franchise
for the Southern Pacific company to ex-
tend its tracks down to the lower edge
OF the bluff by tunnel, and thence
along the beach on sort of terrace, but
on the bluff to the caflon, where COM
mercial wharf will be constructed. The
ordinance granting the Santa Monica
wharf and Terminal Railroad company
[Che Santa Fe 2? franchise through the
city to that company's terminal ground
was also discussed. The points about
which the trustees and companies have
differed heretofore were all amicably
settled, the Southern Pacific company
agreeing to deposit check of $4,000 as
a guaranty, and also accepting a clause
In the ordinance, specifying that work
on the extension shall commence before
forty days, and that i6 shall be COM
pleted in one year. Colonel Hewitt.
who represented the railroad company
said that the road would almost surely
be built in three months.
The franchise for the Santa Monica
Terminal company was also agreed to,
and on next Monday evening, it being
necessary to advertise them for week,
both will be passed.
THE CABLE AND ELECTRIC FIGHT.
1t looks now as if sensational develop
ments might in the progress of the
cable and electric railway fight.
From an official source, HERALD re-
porter was informed yesterday that in
the beginning of the fight, the electric
roads president, Mr.. Sherman, went to
San Francisco to look after the roads
interest. Soon after his arrival there,
the other officials of the company
received telegram purporting to
come from Mr.. Sherman, telling them
to come right up, as their presence was
imperatively needed. Those of them
who could manage to arrange their af-
fairs left on the next train for San Fran
cisco, and on getting there learned that
Mr.. Sherman had not sent them any
such message, and that the whole af-
fair was a scheme on the part
of some one, though it was difficult to
see what was to be gained by it. That
is the story as it comes from the electric
road people, and they assert that the
matter will be thoroughly investigated.
The San Francisco Call mas the follow
ing to say about the fight:
The Los Angeles street railway squab-
BILE, which is undergoing an attempted
adjustment in this city, is about as near
settlement as at the close of the first
days conference, though yesterday was
the third on which meetings have been
held by representatives of the contend
ing corporations looking to some ar
rangement which shall set the opposing
forces at peace with the world and each
other.
There can be no hope of speedy set
tlement while the representatives of the
two systems continue to cling to the
methods now advocated, for the gulf be-
tween the propositions put forth by the
electric and cable people is indeed a
wide one. The electric folks are out for
consolidation or some other manner of
compromise which will reflect mutual
benefit, but John Franklin Crank, rep
resentative and receiver of the cable
system, will listen to no argument, and
says that it is either case of buy or
sell. He offers to sell the cable road to
the electric company for $4,000, 900, and
give enough to liquidate its debts, which
include an issue of first mortgage bonds
in the amount of $1,5000 900 and Sec
ond mortgage bonds amounting to ST.
664 600.
Mr.. Sherman OF the electric company
thinks this proposition an absurd one.
Mr.. Crank is firm in his refusal to settle
the difficulty in any other way, and
thus the thing stands, though while an
adjustment has been under way Frank
V. Mcdonald, OF the Peoples Home
Savings bank, has resigned as secretary
of the electric road, and disposed of Los
Angeles electric bonds amounting to
$171 1000, which the bank held as secu-
rity.
he is reported to have pursued this
course in order that the banking com
pany should not be implicated in the
controversy now on between the rival
roads, and not from any supposition
that the bonds were worthless or that
the electric company is an unsound in
stitution. On the contrary, Mr.. Melon
aid regards the ultimate success of the
electrict road as assured, and thinks
that when the property is completed it
will rank among the best investments
of this character in the country.
NOTES.
The first carload of sugar from the
Chino factory arrived in the city on Sun
day, via the Southern Pacific.
Mr.. Al. Hechtman, formerly general
agent of the Union Pacific, now has
to struggle with adroit freight agents in
his new capacity as shipper. This
blue-eyed favorite of fortune now con-
trolls the destinies of Porter Bros. & Co.,
the largest fruit-shipping concern on
the coast
The Electric road put on a new motor
car yesterday.
The Los Angeles and Pacific Railroad
company has filed report with the rail
ruad commissioners. 1t has been in the
hands of receiver for over one year
and not in operation, but an adjust
ment of the debt is now being made. and
it is expected to be again opened up for
traffic within the next three or four
months. The company was organized
Aug. 81, 1883, and the authorized capital
stock is 81, 100 900. Seventy-nine thous-
and dollars worth of per cent bonds
have been issued to cover thirty years.
Theassets are so, ,944, 400, and the funded
and floating debts $4,000 and 500, ,4S4
respectively.
Fer the best wines and liquors, send your
epxsaR etseef. lelephQre IVY