The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-07-13
WILLWORKTO=DAY
Valley Road Ready for
Subscriptions.
A COMMITTEE is APPOINTED
The Traffic Association Organizes for
Canvass-First Subscription
Received Yesterday.


capital stock of the San Francisco. Stock
ton and San Joaquin Railroad will begin
to-day, and those having the work in
charge announce tnar they will push it
forward vigorously.
At the meeting of the executive COM
mittee of the Traffic Association held yes
terday the following gentlemen were ap-
pointed to solicit subscriptions: Barry
Baldwin, Isaac Upham, F. ". Van Sick
len. AlvinZa Hayward. John T. Doyle,
j. S. Leeds, Robert Watt, Charles NJ.
Yates ana Frank Dalton.
1t is not the inten ton at the present time
to divide the city into districts for the
purpose of canvassing. but the solicitors
viii make a general canvass asking for
subscriptions from only those who are
known to be in favor OF the enterprise
and will not require much urging to take
stock.
Another meeting OF the executive COM
mittee will be held in ten days. at which
the canvassers for stock will submit their
report. II they have met with success,
additional solicitors will be appointed ana
a thorough canvass of the city will be
made.
to present tie subscription-lists 10 the
people of San Francisco are enthusiast
tically in favor of the new enterprise and
express great confidence in being able to
secure A large subscription before the
next meeting of the executive committee.
A resolution was adopted which author
yes the canvassers TO state to purchasers
DE- stock that no money will be required
IN subscriptions before September and
then not more than 20 per cent OF the
amount subscribed. 1t is thought that
The present stringency in money will be
IT an end by that time.
President Baldwin and Manager Leeds
were instructed TO arrange for a confer
NICE with the board of control of the Cali
IOrnla League of Progress for the purpose
Of agreeing upon the work that organZa-
tion will do in securing subscriptions for
stock. The conference will be held at
once and it is understood that the League
of Progress will appoint lumber of can
vasserS to assist those OF the Traffic AsSoci-
alton.
When $780, 0o0 shall have been sub
scribed an organization of the new CON-
pany will be effected aud the Traffic As
will form the orga nization shall be in the
hands Of men who are known to be In
sympathy with the association in It's fight
Tor competition in transportation.
The entire $3.50, coo will not be placed in
this city. but tits expected that prominent
men in the counties through which the
road is to be built will take portion of it
and become a part of the organization.
The road will be built by the people and
1t Is intended that the people shall run it.
Traffic Manager Leeds said: Every
day for several weeks men Of means have
oee.i calling upon me and other members
Of the association. offering words of en-
couragement and promises of subscrp-
tons, but the first actual subscription was
received to-day.
- resident of this city, who does not
wish his name made public, called upon
me and asked permission TO subscribe for
5000 worth OF stock. His subscription
was taken, and as he departed he stated
that he was willing TO take double that
amount Fit was necessary in order to Sc
cure the road.
His subscription pleased me, because it
came from one who is not engaged in bust
ness. He owns several pieces of valuable
real estate and he realizes that anything
that will help the business men is certain
to aid the property-owners. l have every
reason to believe that we will receive con-
siderable aid from that class IF citizens.
Every mail brings me letters from peo-
pie living in the San Joaquin Valley, and
ali urge the association to hasten the con-
structon of the new road. | believe that
after San Francisco has raised its proper
ton OF the capital stock the balance can
be secured IN the valley within thirty days.
1.-The shippers and consumers of this
city and the San Joaquin Valley all know
the great need there is for q competing
lie. and | believe the canvassers who
have been appointed to solicit subscrip-
lions will meet with excellent success, and
within the next month The $3.50, 600 neces-
sary for an organization will be secured.
''fhe Traffic Association is determined
that the new road shall be competing
line. and. the subscription contract has
9 been carefully drawn for that purpose.
The subscribers agree that their stock
shall be issued in the name of nine trustees
who shall be pledged to maintain the road
as a competing line for a period of ten
years.
''Ihe payments upon the stock will be
easy, aud believe it will cause subscrip-
tons to come Immediately. No call will
be made until $780, 900 has been subscribed.
and Under no circumstances before Sep
TENDER. At that time 90 per cen: will be
asked for and the balance will then be
payable in installments extending through
six months or more.
The capital stock will be $1,000 600, but
only about $1,000, coo will come from local
subscriptions. because after that amount
has been secured it will be an easy matter
10 issue bonds for the additional money
needed for the construction of the road.
Persons desiring TO subscribe can do
so by calling at my office or notifying any
oae OF the canvsssers appointed"