The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1892-07-21
TIE SAN FRANcIsco { SALT LAKE.

work is about TO De commenced on the San
Francisco 81 Salt Lake railway, the pro
jected road which was announced some
months ago with abundant capital back OF
it. One of the promoters is quoted as say
ing: THE construction Of the road Is
now an assured fact. We expect to have the
first $1,000. 600 worth OF stock subscribed
as soon as the books are opened. The sur
veys thus far made have proved very sat
isfactory and have been adopted by the
company. There will be no delay in get
ting down to the work Of actual construc-
ton, and then the people of the city and
state will see that the proposition which
has been pooh-poohed is bona tide under
taking"
The Chronicle says the company is about
to put its stock on the market, s., 0OO.0
being offered in San Francisco, with the
expectation that it viii be speedily taken
up.
This is the company which was organ
lied last winter for the alleged purpose of
building railroad from San Francisco to
Salt Lake, paralieling the Central Pacific,
except as to the eastern section, which
avoiding long stretch of desert coun-
try, and at the same time travers-
ing the mining region of west
ern Utah and eastern Nevada.
AT the time an array OF formidable names
in the financial world was published. The
gentlemen mentioned could build aud equip
the road, If their wealth is anything like
what it is stated to be. They were also
represented as being in 'desd earnest.n
The HERALD did not take much stock in
the scheme at the time, and it takes less
now, since it transpires that the milionaires
who had abundant capital within their own
circle to construct the line are going into
the open market with their stock 1t is
possible they will get the money; it is prob
able they will not.
THE HERALD is eager for another rail-
way to the Pacific coast, and we believe
there viii be such road In the near future,
but we cannot think it will be along the
route of the proposed line, or that it will
parallel the Central Pacific. Indeed, we
do not believe q parallel road would be
beneficial to either Utah or California
1t would open very little new country and
hence could not create or develop much
business. 1t is known that the Cen
tral Pacific, with all the traffic and
charging the exorbitant rates of monop-
oily, is making no money and has made none
for years. To divide the business would
not reduce rates, but would result in two
bankrupt roads instead of one. Our
knowledge of men with money does not
encourage the idea that they will deliber-
ately put their cash into an enterprise
which their common sense tells them can
not be remunerative. We know how
intense is the hatred Of good many of
California; millionaires toward the Cen
trail Pacific. They believe the great cor
poration is not doing its duty to the state,
and attribute the dull business and hard
times to the grasping course pursued by the
giant monopoly. These men would take
pleasure in anything that would tend to
break the power Of the railway magaates.
and yet it is not likely that much as the
former hate HUNTINGTON and associates,
they will engage in losing fight with
them. In our opinion. the so-called San
Francisco 81 Salt Lake railway is like
score Of other roads of which the public
has heard and read so much within the
past five years, paper affair. We do not
beIieYe mile of grade will ever be con-
structed, or that single rail will be laid
on the line
There is an opening for railway be-
tween Salt Lake and the Pacific It is be-
tween this city and Los Angeles. That line
viii be profitable to the owners, and a
benefit to this city and territory, and to
California and Nevada. 1t will be COM
petitlve road only as to certain classes of
through business, and as to that it brings
the market 600 miles nearer to the pro-
Queer. In our opinion it is the one great
field for railway in America, and why it
has not been occupied before now is mex
plicable.