The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1892-04-23
THE AIR LINE COMING.

/
The San Francisco papers for the
past few days have been publishing
statements that project was we'll
under way in that city for the build
ing of railroad from San Francisco
to Salt Lake.
1t is well known that A. G. Cleve-
land Of this county went to Salt Lake
last Fall and tried to interest capital
lists 10 that city in the Air Line Rail
road, but failed to receive much en-
enlargement From there he went
to San Francisco and for the past
three months has labored to enlist the
capitalists and business men of that
city in a competing railroad. His
efforts seem to have been successful
as the following dispatch would in
dictate:
Thirty wealthy persons are inter-
terested and have declared that the
the matter will not be allowed to lam
puish. The names behind the formid-
able venture are given as AIyinza
HAYWARD, w. S. Hobart, James G.
Fair, James Phelan, E. L. G. Steele,
A. S. Hallidie, Joseph Donohue, the
PARROT estate, j. b. Stetson, K. f..
Preston, Mrs. Annie Donahue, Daniel
Myer, Robert Watt, the Laveaga es-
tate, William Babeock, j. L. Flood,
Ii. z. Sontag, A. c. Cleveland OF Me-
vada and others.
As evidence that the enterprise
is genuine, one may be cited to the
fact that 100000 has been actually
subscribed, aud % per cent OF the
subscription was last Thursday paid
| into a local bank in cash. The low
est subscription was for $4,000. The
projectors did not agree to put up
100000 in gold coin, but there will
be no lack of ready money with
which to carry on the preliminaries.
Ii is not the intention to sell any
stock of the corporation whatever.
About $15,000,00 will be raised and
there has never been any fear that
there will be any trouble in placing
these bonds, because the assurance
has already been given that the total
amount will be taken in this city
One reason for putting up SO much
cash is 10 be certain OF placing the
bonds at par. An engineer has been
engaged and is now in the field pre-
pairing data for a preliminary report.
So much has been said about the
Douahue road some day passing into
the possession of an Eastern road that
the inquiry is made AS to whether or
not the proposed line to Salt Lake
viii. not absorb the Donahue system.
1t is said that for weeks an examina-
ton of the books of the Donahue sys-
TEN has been in progress in the inter-
est of the persons concerned IN the
Salt Lake proposition. Hints have
been dropped that the road will come
into San Francisco by ferry which
lends color to the belief that Tiburon
will be the terminal. II is said that
several Eastern roads have positively
asserted that when It is once estab-
lished beyond doubt that the pro-
posed road across the Sierras will
actually be built they will immedi-
ately begin to extend their roads to
Salt Lake, and will be there in time
To meet the San Francisco road. 1t
is not denied that the men who are
putting their money into this venture
have agreed not to sell the road or
enter into any traffic agreement with
any competing line for period of at
least ten years from the completion
of the road. II is claimed road can
be built through Beckwith Pass at
low cost and that such road would
transverse country that from the
start would yield excellent local traffic.
1t is stated that the bonds OF the
projected road will be of the denom-
ination of $500 and $1,000, and that
they will be issued for 20 years and
interest be at the rate of five per cent
per annum, payable half yearly In
advance.
Nevada will give the road bonus
amounting to $1,500,0OO. The road
will be about 90 miles shorter than the
Central Pacific.
Mining Men.