The morning call., 1894-03-23
MCNEAR'S DEAL.
He Obtains the Starr
Warehouses.
LOCATED AT PORT COSTA.
A Transaction of Very Great
Importance.
LARGEST SHEDS IN THE STATE.
The Transfer Taken as an Indication
That Starr & Co. Desire TO
Retire.
LARGEST SHEDS IN THE STATE

a deal was made day or two ago by
which one of the largest business con-
Germs in the State indicates its intention of
retiring from the commercial world, and
another concern of similar proportions
indicates its intention Of largely increas-
ing the facilities for doing business.
The deal referred to is the transfer of
Starr & Co.'s interests in the grain busi-
ness 10 George w. McNear.
All the parties interested in the transsc-
tion are maintaining the sirictest silence
concerning what has transpired, and an
endeavor to learn the true inwardness of
the affair met with but poor results.
This much. however. Is certain. Some
time ago Starr & Co. let it become known
that they were about to dispose of some
of their commercial property, and invited
an investigation into what they had to sell.
No reason was given for the contem-
plated sales, but in commercial al circles they
were taken as an in Indication that the rumor
relative TO the retirement Of Starr & Co.,
which had been current for some time,
was about to assume tangible form.
Among the first pieces of property to be
placed on the market were the grain sheds,
warehouses and storero0ms owned by
Starr & Co.
These buildings are located at Port
Costa. and are by far the largest grain
sheds in this section of the country.
They extend along the bay for distance
of no less than 1000 feet. and have capac-
ity of several hundred thousand tons OF
grain.
AS an adjunct to the warehouse a large
wharf lines the side of the building which
fronts the waters edge. and this wharf
has been rendered serviceable under all
circumstances by an immense amount of
dredging which was done snme time ago.
Ships of any depth and dimensions can
be moorrd right up to the sheds and loaded,
thus doing away with that enormous ex-
pense which would be incurred in trans
ierring the grain to this city before plac-
ing 1t on board ship.
When Starr & Co. concluded to dispose
OF this warehouse they sent to several
heavy dealers in grain and made known
their intentions. The value that was
placed on the warehouses at that time was
somewhere in the neigs bOrhood of $500, 600.
A company was talked of for the pur-
pose of purchasing the sheds, and quite an
amount of capital was subscribed, but for
some reason the plan WAS never carried out.
Then for some time all interest in
Starts desire to sell died out, nor was it re-
vived until it became known that George
w. McNear has become the proprietor of
the Port Costa warehouses.
Just what price McNear paid for the
property 10 not known, but the impress
sion prevails that no reduction was N ade
by Starr d Co. in the price originally
placed upon their property.
Wnen spoken to relative to the recent
acquisitions to his business interests Mr..
McNear refused positively to give out any
information.
II have the warehouses" said he, ''but
l decline to say anything in regard to the
matter. I cannot understand why any
ne should want to know. My business
affairs surely do not interest the commun-
ity at large"
When questioned regarding the probable
retirement of Starr & Co., McNear said :
Il am not at liberty to discuss that mat
ter. and must refer you TO soma member
of the Starr firm."
at the Office of Starr & Co. q similar
silence was maintained
That McNear had taken the Port Costa
warehouses was admitted. but the sisnif-
cance of the sale, the amount of money
involved or the probable future of the firm
were subjects upon which every one re-
fused to talk.