The morning call., 1892-05-28
over THE SIBRRAS.
The Very Latest Scheme for o
Competing Railroad.
It Is Looked Upon as Sound Project, Backed
by Able and Enterprising Men.
Leeds Opinion.

The incorporation Of the San Francisco
and Great Salt Lake Railway was the chief
topic of discussion in business circles yes
terday. The impression seems to be that
the project is resting on a solid foundation
and that it Will be consummated, giving
California genuine railroad competition.
The leaders in the movement are all men Of
wealth and standing aud fully qualified to
carry their plans into execution. EIt is
Nell-known fact that the Traffic Associa-
tion has played an important part in the
present undertaking. and its officers declare
that all possible support will be rendered in
the future. President Castle is interested
in the new corporation, though his name
has not heretofore appeared in connection
with it. Several other prominent members
are also stockholders.
Traffic Manager Leeds was asked yester-
day If in his opinion line from San Fran
cisco to Salt Lake could operate successfully
without becoming member Of tho Trans
continental Association.
Certainly. he replied.
The Texas Pacific and the Northern Pa
cifc operated success fully for years outside
of the association. At salt Lake the new
road would connect with the Union Pacific
or the Rio Grande Western, both members
of the pool, but there is DO possibility OF
forcing an Independent line to join.
The promoters of the enterprise are all
severely reticent as to future plans and
prospects. Unlike the bubbe-Dlowers Of
the past, whose splendid schemes have van
ished like mist before the morning sun, the
directors Of tile San Francisco and Great
Salt Lake Railway Company have not
word for publication. 1--WE are going to
build railroad" said Daniel Meyer, 'but
! can say nothing as TO the route or the
terminal point in this city. That question
remains undecided as yet"
I'VE have incOrpoTated," said AlvnZa
Hayward, "but / have nothing TO add 10
what has already been published"
"Will the California and Nevada line
form a part Of your SYSTEM" was asked
L. l.. @. Steele, another director.
This subject has not been considered"
he replied, 'and do not care to venture an
opinion as TO what course we shall decide
upon"
" Has the waterfront fight in Oakland
anything to do with securing terminal for
your road ?" Not Al all" WAS the reply.
I'VE have no intention Ofmaking our West
ern terminus at Davies Point"
Has YOur company the right Of way
through BeckWith Pass?"
lot that 1 am aware Of"
In conclusion, Mr.. Steele stated that the
company had six terminal points in view,
but beggeG 10 be excused from further dis
cuSsl0n Of the matter.
ne articles OF Incorporation OF lU6 Dan
Francisco and Great Salt Lake Railway, as
fled at Sacramento, set forth that the pur-
poses for which the company IS formed are !:
l. To construct purchase, own, lease control
maintain and operate single or double track rail-
roads, OF elther standard narrow gauge, IN the
Stale Of California or elsewhere. and 10 acquire,
hold and own franchises, rights and privileges
therefor by grant from tile authorities Of any
town, city, county OF STATE. or by assignment
from the grantees or holders Of such franchises,
rights and privileges, or otherwise; also 10 buy,
sell, lease, construct, charter, rent let and oper-
ATE The roads OF other companies; 10 indOrSe or
guarantee The principal or interest or dividends
OF or upon the stock or bonds thereof aud 10 CON
sOlidate Win other railroad companies.
2, To buy. own. sell, mortgage, lease and deal
I'm zeal estate and 10 improve The same ana 10
acquire, hold, Iade Ia, use, sell and lease all
such real estate or other property as may be
necessary, useful or convenient for the cOnstIuc-
ton. maintenance and operation OF the railroads
Of this corporation.
g. To construct. maintain and operate wharves.
bridges and tIeStles aud 10 lay rails ard Opel ate
roads thereon; also, 10 construct maintain and
operate, either I'D connection Will Its railroads
or Otherwise, ferries steamers, docks, slips aud
landing and dischaTglng places Tor freight and
passenger tral1ic.
4 TO buy, batter for sell, exchange and deal
ia The shares OF lis own capital stock or bonds
aud M tile shares OF capital stock or bonds OF
other companies.
s. To borrow money or Issue bonds, promis-
cory notes and other evidences OF indie btedness
and 10 mortgage aud byp0theeate any or ali OF
the corporate property.
6, To buy, sell ana deal In patent rights aDper-
tainng 10 railroads.
z. To exercise lie right OF eminent domain.
10 carry on. conduct and engage in any bust-
ness transactions which NAV can be included
10 or appeTlain 10 any of the matters aforesaid,
ana 10 do and perform any and all other ana FUR
ther acts winch may be necessary, useful con-
Veneut or auxiliary 10 the main purposes OF the
corporation.
Also, that The kind OF railroad 10 be con
stlucted BY said corporation IS single or double
track standard gauge railroad, with all branches,
shops, depots, yards, etc, as may be nee SSary
Tor the transaction of a general railroad bush
ness; that The road will ian from san Francisco
10 Stockton; that the estimated length OF said
line Is 100 miles; that at least per cent OF tile
capital stock subscribed has been paid 10 10
Howard Hayens the tTea surer OF the said In
tended CORPORATION; that the place where the
principal business OF said corporation Is 10 be
transacted is San Francisco; that the term for
which the corporation is exist is 80 years from
aud al er the date OF ia Incorporation: that The
number Of directors and trustees shall be i've,
and those appointed Tor tho first year are: Al
yiDza Hayward, Daniel Meyer, William Bsbcock,
L. /. g. Steele and L. L. Preston.
Also. that the amount OF capital stock Is
100000, which is divided into 10000 shares
Of the par value OF S1C0 each, and that 100000
has been actually subscribed, and tile Subscrb.
are The directors named. each subscribing for