The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1894-02-14
A BIG MORTGAGE.
Given by Market-Street
Railway.
1t Amounts to $4,000, 900, and Is
Accepted by the Union Trust COM
pany-Other News.

One of the largest mortgages ever
drawn in this city was submitted to the
officers of the Union Trust Company yes
terday and received their approval. Ii
is for the sum of 100000 and is given
by the Market-street Railway Company
upon all the property owned by the latter
in this city. few days ago the stock
holders of the Market-street Railway
Company voted to issue over ST ,0OO, 00O in
bonds. These are what are Technically
known as mortgage bonds, and in order to
place them upon the market successfully
it is necessary that some large financial
concern should assume the respon sibility
for the payment of both principal and
interest. The Union Trust Company by
this action becomes a trustee and will
place the bonds of.the street railway COM
pany upon the market.
The Market-street Railway people ap-
parently do not have much concern about
the ultimate passage of the order intro
duced at the meeting of the Board of
Supervisors on Monday evening relative
TO the placing of gates upon streetcars for
the prevention of people alighting from
the cars on the left-haud side. 1t is
claimed that the idea comes from the
East, where the conditions prevailing are
entirely different from those which OBJ
tain here.
Secretary Willcutt of the street railway
company said yesterday that there were
several objections 10 the placing of gates
in the manner specified, In the first place
the space between the two cal bic tracks on
Market street was much wider than that
| between the cable cartracks and the horse
caTtracks on the outside. This. he claimed
would afford passengers aligbting from the
cars In the wider space much better pro-
tectlon from danger than those who got off
on the opposite sides. 10 the East, Mr.
Willcutt said, the tracks are much nearer
together than in San Francisco. Again, in
cold weather, 1t was impossible to see from
| the interior Of the cars through the frosted
| window paDeS and thus watch for ap-
| preaching cars. The greatest number of
accidents which have occurred in this city,
| he further SAID, have been cases in which
| passengers were riding on the open for
ward end OF the cars who stepped or
| jumped off without taking Ordinary pre-
| cautions for their own safety.
Another objection urged is that persons
| who leave a car from the left side and
! who desire TO reach the opposite side of
] the street are perfOrce compelled to pass
| behind the car they have just lett, and are
| unable to see cars approaching in the op-
| pOsite direction.
Sill another point made was that of a
| saving OF time, in which, he claimed, the
public as well as lie streetcar companies
were interested. A familiar instance was
cited, that OF lame person or a slow
going. portly person, who would delay a
car full of passengers some little time
where only one mode of egress was allow
able, and. taken in the aggregate, These
delays wouldamount TO a considerable loss
Of time.
AS to resolutions passed by the board
! instructing the Superintendent of Streets
to tear up all unused tracks, Secretary
Wllcutt stated that his company had
practically no tracks of that description IN
the city. He stated, however, that rails
! had been laid on some streets the fran
chises for which still had two or three
years yet to run, but he did not think the
ordinance was intended to apply to them.
! The Sacramento-street car-line extension
to the park will commence running cars
on schedule time on Friday. The first cars
were run over the line on Monday and
| have been continued since that time in
order TO acqualnt employees with the road.
Passengers have been carried, but no fares
have been collected and will not be on that
road until the formal opening. This is the
only line north of Geary that is running
direct TO the park without change of cars.
S. T. Bryde, first assistant general pas.
senger and ticket agent OF the Rock Island
line, with headquarters in Chicago, is in
the city.