Los Angeles herald., 1891-08-27
The Cable VS.. the Electric
Street Railway.
Statements from Officials of
Both Companies.
A Southern California Road Train
Attacked by Stone Throwers.
The Latest Railroad Talk-A Train
stoned Near Santa Fe Springs.
FIX Santa Monica Railroads.
.ti "a Notes.

s'The cable road will never buy or
absorb the Electric. company. Such
talk is nonsense. don't know whether
the electric road will or will not in the
future buy or absorb the cable road, but
the reverse do know will never be the
case" So spoke one of the highest
officials OF the Electric Road company
yesterday to HERALD reporter.
Mr.. Crank was interviewed by San
Francisco Chronicle reporter on Monday
as follows:
~. f. Crank, the receiver Of the cable
system, has been in this city since Tues
day. On Thursday he had an interview
with James G. Fair, president of the Pa
cific Rolling Mills, and on the following
day he met Mr.. Fair and certain di-
rectors of the rolling mills and ex-
planned to them the situation as he saw
it. L showed them,' said Mr.. Crank
yesterday, how the rolling mills, after
building much OF our road and receiving
from us nearly million dollars, had
gone into the electric road, had pro-
cured franchises, and was preparing to
parallel our line. Such a scheme, if car
ried out, would put US both in the suds.
Then I.wanted to know what the Pacific
Rolling Mills meant. Senator Fair ad-
mitted that it looked very queer to him,
and said he would investigate the whole
matter
"Mr. Crank continued The, rolling
mills are practically the owners OF the Los
Angeles road. 1t looks as though the
scheme was to come into our territory,
ruin our road and then buy it in, getting
$3,000,000 worth of property for less
than million. I told the rolling mills
people that such scheme looked to me
to be nothing less than criminal.
".The situation is this: OF the total
length of the electric road less than IL
per cent. will serve territory more than
two blocks away from our line. The
remaining SO SSS per cent. is parallel with or
on our tracks. Nearly % per cent. Of
the electric road is projected to use the
tracks of our system. Query: Do the
projectors of the electric road own prop
erty along the line of these routes, or is
it bonding speculation, or sell out, or
freeze out? Which?
Yesterday Mr.. Crank and Frank v.
Mcdonald met by chance in the Office of
George H. .Whitwell, manager of the Lun-
ing estate, which is largely interested in
the Pacific rolling mills. As the electric
road owes the rolling mills large sum,
said to be several hundred thousand dol
lars, and the cable road is also it's debtor
to the extent Of $50, 900, compromise
would just about suit the rolling mills,
go Mr.. Whitewell esseyed to act as
peacemaker. He told a Chronicle re-
porter about the meeting afterward, and
said that the railway men had agreed
upon everything but values.
''Mr. Crank's story OF the. meeting
was different. He said the ice had been
broken and several propositions had
been discussed, but without definite
offer from either side. Another confer
ence was held later in the day, and Mr..
Crank will remain here for several days,
in which time the rolling mills people
will hold conference and settle upon
their policy.
.'Said Mr.. Crank last night: II don't
know what the upshot will be. If they
want to buy we will sell. If they want
to sell we will buy. One of us must get
out, or both win perish"
The San Francisco Call of Tuesday
takes the following view Of the fight.
It says:
"The attacks on the electric road com.
pany of Los Angeles are inspired and
paid for by people who are interested in
the cable road bonds, and the electric
people, possessed of this knowledge, are
in an impregnable position. In the Ian
guage of man who knows whereof ne
speaks. the cable road conspirators will
not only come to grief, but one Of them
who has fallen into a trap Of his own
setting, is liable to land in the peniten'
tiary.' In this connection it is interest
ing to note that on July 2Sth James G
Fair said of the Los Angeles electric
road: This Los Angeles road is fine
property. l have no fear that it viii
prove anything but q frst5class invest
ment.' 1t has proved such 81 fine invest
prevent the building Of the road, ant
who have since vainly tried to blackmai
it's owners, are wild with rage and de
congratulated on their success
The latest information about the figh
in San Francisco is given by the Daily
Report OF that city, in its issue Of Tues
day, as follows:
HGeorge H. Whittell, one of the exec
utors and the manager of the estate 0
the late Nicholas Luning, which is large
ly interested in the Pacific Rolling Mill
company, gave to D. r. reporter yes
terday afternoon the following
solution of the fight of the compan,
against the Electric road in Los Ange
les:
"The cableJ railroad company in Lo
Angeles and the Electric railroad com
pany in the same place both owe none,
q to the Pacific Rolling Mills. Both road
were built by the rolling mills. Tn
cable system owes us small
balance and the electric system
owes us large amount. 1t so happen
that the cable and electric road
are at war, one with the other, and il
such warfare there would be bitter op
position and no money made on eithe
side. As they are both creditors OF ou
company we do not want to see thi
ruinous warfare and would like to brin
about consolidation Of their interests
which would be beneficial to all con
cerned. Such consolidation is likel
to be made. Frank v. Mcdonald, rer
resenting the electric road, and John !
Crank. the receiver of the cable raj