Los Angeles herald., 1892-03-25
The Santa Fe Begins Work
at Santa Monica.
The Consolidation Of Cable and
Electric Roads.
General Manager Wade Returns
From Coronado.
Two stories About the Consolidation n
6cheme-Mr. Wade Explains How
Some Tickets Are Sold
Unusually Cheap.

vtlOn on lCb lluo tTOm luSloWOOQ TO santa
Monica on Monday.
Chief Engineer Fred Perris made an
attempt to 60 through this city yesterday
on his way to Santa Monica without be-
ing seen by HERALD reporter, but he
was heard of and the HERALD represent
ative at Santa Monica saw the able en-
.gineer who has created the Santa Fe's
system in Southern California and asked
him what he was there for.
"Well, didn't intend to have word
said about it," the answer was, "but l
don't mind telling you, as long as you
have cornered me, that ex pect to begin
work on the line on Monday"
Nothing more could be had from Mr..
Perris, but it was learned that men were
busily engaged in setting grade stakes to
the center line of the route selected by
the old Santa Monica Wharf and Termi-
nal company, and that construction
outfit of about a hundred teams and men
were camped at Inglewood.
The work will be under the immediate
charge Of Engineer 7. Terriss, and will
be completed go that trains will be ope.
rated over the line on June 1st.
THE CONSOLIDATION SCHEME.
There is great mystery yet regarding
the much-talked-of consolidation of the
Electric and Gable Railway companies.
1t was learned yesterday from one source
that the negotiations were by no means
broken off, and that in all probability
the matter would be soon contaminated.
From another source the information
was obtained that the Chicago creditors
have prepared surprise for the first
mortgage bondholders, and will block
the deal. On the whole the matter ap-
pears as if the consolidation would be
effected.
The following is the Associated Press
dispatch from San Francisco about the
matter:
SAN FRANCISCO, March N.-S. G.
Murphy, president of the First National
bank, was seen with reference to the
Los Angeles cable road matter, said the
statement that the bonds were payable
at Senator Fairs bank he knew to be
incorrect. He admitted having heard
that one of the electric roads in Los An
geles had defaulted on its interest; which
of them he did not know. but it was un-
derstood he said in financial circles that
bonds Of both roads were in the hands
OF John Mckee, who was trying to har-
mOnize the two companies and effect a
settlement. When called upon, John
Mckee, one of the managers of
Tallant & Company's bank, said
the statements which had been printed
regarding the matter here full of errors.
'Ihave some OF the Los Angeles electric
road bonds," he said, land am sure
it has not defaulted, though l cannot
remember the date when interest
falls due; and as for the
other company, known as the
Los Angeles Gable Railway company, 1
know for fact that it paid it's Septem.
ber interest on March 18th, into the
California bank" M. H. Sherman,
president of the Electric company, left
here this morning at 8 O'Clock for Los
Angeles.
GENERAL MANAGER WADE RETURNS.
General Manager X. H. Wade of the
Southern California company returned
home yesterday from the meeting Of the
Transcontinental association at Coro-
nado. Nothing of any great import, he
stated, had been agreed upon. A large
amount of routine business was attend
ed to. r.T
Regarding the rumors of passenger
rates being reduced, Mr.. Wade stated
that there was no basis of fact to the
statements. He explained the stories
about scalpers selling very cheap tickets
from here to eastern points by the fact
that very large percentage of arrivals
here hold round trip tickets. OF these
travellers a large proportion decide to
remain here, and will dispose of the
return coupons of their tickets at very
low rates, or whatever the scalpers will
pay.
Mr.. Wade stated that all the roads
centering here are in harmony, and
realize that it is much more profitable
for each to do its share of the business
regularly and peaceably, rather than
reduce their incomes through spite and
rate cutting. He does not anticipate
any rate war.
NOTES.
E. W. MCGEE, passenger and ticket
agent of the Wabash road at Spring
field, ILL.,, was yesterday in the city call
ing on Santa Fe officials.
Aspecial carload of people, chaperoned
by G. F. Herr, the agent of the Union
Pacific road. left yesterday for Sacra.
mento and the east via the Union Pacific
road. The party consists Of Mr.. and
Mrs. Oswald, Mrs. and Miss Thompson
Mr.. H. Z. Barnes and Mr.. Herr.
HE DIDN'T KNOW BROOKS.