The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1892-07-31
FARES And RATES.
Politicians Who Ind0rse the
Traffic Association.
Third Annual Report Of the San Francisco
and North Pacific Rsilroad-succsss Of the
New Clipper Freight Vessels.

pie of California, issued last week, in which
pledge is demanded from every Legisla-
tive candidate to support measures calcu-
lated to relieve the State from the oppres-
sive rates of the Southern Pacific Railroad
monopoly, has evidently struck 8 sympa-
tbetfc chord.
Endorsements of the letter are pouring in
from every direction. The League Of
Progress has, through its board Of control,
decided to take the matter up and to make a
decided effort to carry oul the principles
laid down by the Traffic Association in
that political communication. The Demo-
cratic County Committe has also decided to
make the pledge asked for by the Traffic
Association plank in the platform of the
party. and yesterday Chairman Ruef of the
Burns Republican County Committee held
ii conference with Traffic Manager Leeds,
with view of doing likewise. The Farm
ers' Alliance and Peoples party leaders
from every section Of the State write that
they are in favor of the ideas advanced by
the Traffic Association, and that they will
make low freight rates aud farce, as we'll as
the adjustment Of the Railroad Commits
sion. an issue during the coming campaign.
The only political party which is opposed
to the adoption OF the letter ana It's contents
is the one governed by Kelly. Crimmins and
MIKE dc / Dung, VINO DcluR LAS Representa-
tives of the Southern Pacific Company are
in duty bound 10 prevent The introduction
Of any measures which are calculated to
reduce the revenues of the kentucy cor
poT8tl0n.
Colonel Isaac Trumbo and Marcus Pol
lssky, the Fresno promoter, met at the
Palace Hotel yesterday. Both have just re-
turned from the East, although they did
not cross each others path while on the
either side Of the Rockies.
THEY HAVE HAD EXPERIENCE.
There are few men in California who have
had as much experience with proposed rail-
road schemes as have the colonel and the
young schemer from the City OF Raisins.
They were asked by a CALI reporter what
in their opinion would be likely TO occur in
the near future IN the way Of bringing a
competing railroad 20 San Francisco. Colo
mel Trumbo, who is largely interested in
the Los Angeles aud Salt Lake line, which
il built will come 10 this city via Walker
Pass, said that matters looked very DrOmis-
Ing for his road. I'VE have nearly 20 miles
IN operation al the eastern end" said he,
land as soon as our people see that there is
any real danger of another road being built
they will go right ahead and extend the line
10 California. We are not going to let any
opposition scheme get ahead of US, and the
Salt Lake people are closely watching every
thug that Is done in the matter"
The colonel then went on to tell some Of
bis experiences in trying to interest local,
Eastern or foreign capital in California
railroad enterprises; and when he touched
upon that topic Mr.. Pollasky seconded his
remarks, for be also had been buttonholin z
the rich men Of this State and in the East
on the same proposition.
The two great operators agreed that rails
ing money for the purpose OF building rail-
roads IS very tough work, because every
body who has capital wants his neighbor TO
do tae investing rather than 20 down into
his packet himself. Besides as soon as the
Southern Pacific Company finds out that
capitalists are being approached in the in
terests Of a rival road offers are at once
made 10 the m0ney-owneTs by the magnates
Of Fourth aud Townsend streets TO buy
stock in the Kentucky corporation, and
every possible lnduCement is held out to the
intending investor to place his dollars with
the Kentucky corporation instead Of else
where.
THE SALT LAKE PEOPLE
Colonel Trumbo, who spent several days
IN Salt Lake City, stated that the people in
the Mormon capital are very eager to see
competing line TO this city built, and are
ready to q o their share toward making the
enterprise success.
The third annual report of the San Fran.
cisco and North Pacific Railway Company
(DenabUe line) and statement of accounts
foT TIE year ending June 80, 1892, has Just
been issued
1t is handsomely illustrated volume Of
20 pages, tull OF Inform alton about the
finances and business Of the road, interest
ing 10 the stockholders and others.
The gross earnings of the road for the
year were 1856, All IS, the operating ex-
peDses S548, 8l5 4S. expenses for improve
ments S46, 7S9 p, fixed and other payments
ehargeabie against revenue S256, $40 Is.
Which leaves asurplus revenue of ISL, 007 19,
as against $50 SOL As for the preceding wear
The company has therefore earned divi-
dend Of about l Is per cent Oh its capital
stock during the past year, but the report
states that by reason OF the surplus having
been used for construction purposes, the
condition will not admit Of any dividend
being paid at present.
President Burgin, In making his report,
says that there has been no change in the
amount Of the capital stock nor any increase
In the bonded Indebtedness of the company
during the year.
1t IS stated by good authority that the
San Francisco and North Pacific road, which
has been reported sold many times of late,
will really change hands within 90 DAYS.
The executors Of the estate have two offers
under consideration, one from j. ana W.
Seligmsn d Co. and Ladenburg Thalnann
& Co, two New York banking firms who
are holders Of very large amount of the
roads stock. The other offer is made by a
local syndicate.
Letters from New York to members OF
the Traffic Association of California con-
nrm the news published by THE CALI. some
weeks ago that the new clipper lines are
meeting with = great deal Of success The
vessels Of j. w. Grace d Co. and of Bal
four. Guthrie 81 Co. had no trouble wha.-
ever TO secure full cargoes of mixed mer-
chsndise. George w. McNear and John
Rosenfed's Sons are chartering ships here
which they will soon dispatch East with
cargoes OF canned goods, wines and other
California products at rates far below tho
transcontinental tariff of the Southern Pa
cfc,