The morning call., 1893-12-28
GUARANTEE FUND.
For the Competing Line
of Steamers.
The Traffic Association Committee
Working Hard to Raise the
Necessary Amount.

The meeting OF the North American Navlga-
ton Company. which was 10 have been held
yesterday was postponed until tomorrow.
double purpose is served by this delay. In the
first place Captain W l.. Merry, president cf
The company did not wish 10 take such impor-
tant action a. determining The policy TO b. fol-
lowed by tile North American Navigation Com
pany until all directors could be present. Those
directors who yesterday were absent from
the city VIII. II is anticipated, be enabled 10 be
present al the meeting tomorrow.
An additional aDd even better reason, how
ever, is the fact mat in the interim additional
efforts VIII be put forth 10 enlist the merchants
in The cause OF the traffic war.
The executive committee of the Traffic Asso-
citation, both individually and collectively.
worked hard yesterday. The several members
busted themselves enlsting tile sympaIhies OF
their business friends In tile movement 10 raise
the $4,000. which must be secured to make
up the 100000 necessary for the carrying on
OF the North American Navigation Company
until next March. When The executive com
mtlee met iu the afternoon additional sub
scrlpllons amour ing to S47o0 were reported.
TINS leaves. roughly speaking, balance OF
$4,000 that remains 10 be collected before the
tuna Is complete.
Such thing a. failure 10 raise the required
amount can scarcely be considered possible.
Not only would IL be a SAD commentary on tile
business methods and enterprise OF San Fran
cisco, but would seem 10 Indicate an OBJ use
ness Oh the part or the mercantile community
hardly TO be explained. Such a misfortune
for most assurediy IL would be tbat-would very
probably result In the city and State receiving
such setback as 10 seriously cripple The in-
dustrles of California This may be perhaps
better understood after considering what has
been saved 10 the mercantile community in
frelehts since The traffic war was inaugurated.
This competitive system has been in full
blast since the month of May. Ii must be
remembered that an abnormal state or things
has existed during the intervening months
owing 10 the financial depression. but noIwitI-
OF this coast has amounted ID the sum OF at
least s65O,OO0 a mouth. OF this amount
1925, 900 may be reckoned as products shipped
TO Eastern points In those months, however,
when the products OF the State are most largely
shlpped-say october and Noyember-thz
above amount was largely exceeded. For
Instance, the shipments from the tEr ee points,
Sacramento, San Francisco and san Jose,
during october aggregated about $780, 600.
The wes;bound freight has ben affected
fully as much. Less IN volume, but OF more
valuable char acter, the amount aggregates
about S425, 900.
mage moved IN 1892, and are approximately
correct. With such d showing 1t Is difficult 10
understand why any merchant should refrain
from cont rioutiugito susiainia system by which
he with others has been so materially benefited.
To the ordinary business man the saving In
freight has more than recouped his conIribu-
tion.
The only apparent reason now therefore, for
some men hanging fire is that they are leaving
the burden 10 the "Other fellah," and hone in
this manner 10 hog the pTofit al both ends
The day when the North American Navtga.
ton Company sent its first steamer south il in
Augurated new era in San Francisco. The
existing rates are war rates forced upon the
company by combining circumstances. With
living rates such as must ensue the steamship
line can more than maintain Itself.