The morning call., 1893-01-10
ON THE STEEL WAY
The Freight War and the
Clipper Ships.
IMPORTANT CONFERENCES.
VIII the San Francisco and North
Pacific Road Be Combined With the
North Pacific Coast Road =?

Besides the freight rate war and the
prospects for a new line of steamers be-
tween Panama and San Francisco. the
pending sale of the San Francisco and
North Pacific Railroad is the leading topic
now interesting local railroad circles.
AS far as the aforementioned two ques-
tiOns are concerned. there are no new de-
yelopments, and what will be done in the
near future can only be learned here when
the telegraph brings the news from New
York City, where these matters will be ar
ranged. If any arrangements are made.
j. c. Stubs left last week for New
York to meet C. P. Huntington, and while
East will, with his chief, confer with the
magnates Of other Western roads, especially
those of the Atchison, Topeka and Santa
Fe, the Union Pacific. the Great Northern
and the Northern Pacific companies.
There is no doubt that he will also try to
coun,eract the efforts Frank Johnson Of the
Johnson-Locke Mercantile Company, who
is also in New York, is making TO secure
concessions from the Panama Railroad
Company for tie recently Incorporated
Northern Pacific Navigation Company.
1t is, however, not probable that any posi-
tive developments Will be heard OF until
after the adjournment Of the meeting OF
which convened yesterday IN St. Paul, be-
cause a great deal depends upon the pro-
ceedings of that gathering.
Mr., Stubs will pause long enough ON his
trip TO New York to be present at that
meeting, which has for its main purpose the
founding Of new combination 10 take the
place Of the late but not lamented Trans
continental and Western Traffic assocla-
tons.
Il seems to be the desire OF nearly all
the big roads TO act in harmony once
more, but just how 10 bring that about aud
give each road the concession it insists upon
is the puzzle the ST Paul conference will
have to deal with.
In the meantime the competing clipper
ships are doing a large business aud remain
a thorn in the side of the Southern Pacific
Company.
the seeondaot their ships. the /. +. Cakes.
daily.
The vessel is now 142 days out from New
York.
After the Cakes the following ships of
the same line will arrive from New York
in short intervals: The Emily Reed. the
Benjamin +. Packard. the Henry b. Hyde
and the General Knox
The w. II. Starbuck is on the way out
from Philadelphia.
With reference to the sale of the Donahue
road there has been so much said of late that
every bONY WHO cures 10 kuUW any tIiue
about il understands the condition OF
affairs.
The road is in the market for the highest
bidder, aud ii is supposed that within
ninety days it will change hands.
One Of the men who want the road is
Manager Graves of the North Pacific Coast
Railroad.
Mir. Graves has as yet not handed in his
bid but he has for months beenebuSy eX-
porting the reads condition, physical and
financial and he Will shortly make an offer.
When the sale of the San Francisco and
North Petite was first authorized some
three months ago. Graves communicated
with Ladenburg. Thalman & Co. of New
York, who in conjunction with The Selig
man Brothers OF this city hold $1,000 shares
of the concern.
Graves wanted to know at what figure
they would dispose of this stock. but he re-
ceived a reply to the effect that tile shares
were not for sale.
Now what do they want TO hold this
stock for" said the North Pacific Coast
roads manager yesterday, unless they are
acting for some one who wants 10 buy the
Donahue road?
But they are very much mistaken il
they think that they will have il all their
own way" he continued, because / am in
a better condition 10 make an offer than
any one else. because jointly with the road
| now represent the other road can be made
separately it is not desirable property"
Mr. Graves then gave figures aud estab-
lished the fact that If the two lines are con-
solidated an immense amount OF money can
be saved annually.
What tile amount Of his bid will be when
he makes IL Graves would not tell, but he
seemed to be quite con fdent that lie had a
great chance TO combine his road and the
one in the market before many days.
Speculation is rife as to who the client is
that employs the New York bankers, and a
good many people seem to think his name
is c. p Huntington.
If Huntington has his covetous eye on the
San Francisco and North Pacific road he
keeps very dark about IT,, fer Peter J. Nc
GiynD, one of the executors of the DOnahue
estate, said yesterday that the president Of
the Southern Pncifc Company had of late
shown no inclination to become a pur-
chaser oil the road.
About a year ego Huntington talked as
If he wanted the road but we have not
heard from him SINCE" Dir. McGlynn putt.
While there is no particular date set when
the road is 10 be sold. il is the desire of the
executors of the estate to which il belongs
to dispose OF ii soon in order TO be enabled
10 settle up the rest Of the estate.
Inside Of ninety days." is the period
which Mr.. McGlynn specified when he was
asked when the sale would be made.
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