The morning call., 1894-10-03
prpFLY BUSINESS PROPOSITION

For the first time in the history OF San
! Francisco there appears 10 be reasonable
probability that competing railroad VIII
be constructed in the very near future.
The Traffic Association has, after months
of preparatory labor, settled upon deh-
mite plan, and the subscription BOOKS are
now open to the public. This was de-
cided upon at the meeting of The executive
committee held Monday moTni0g. and the
result of the first days work is sufficiently
encouraging TO warrant the belief that the
amount necessary to commence the con-
Siruction of the road will be subscribed
beyond doubt within ninety days. This
limit OF time has been set by the executive
committee, with the privilege of extending
it to six months, but those interested feel
assured that the merchants and business
men of this city will append their names
to the blanks Immediately upon presenta-
ton.
In order TO lessen the preliminary eX-
penses the executive committee has de-
cided to dispense with the services of sala-
RED eanYassers, and commencing with to-
day the members of the committee will
take the work in hand ana solicit sub
scripiions personally. The committee
being composed of well-known business
men 1T is expected that their individual
efforts will meet with larger degree OF
success than would the laborS of hired
subscription agents. 1t is safe TO predict
mat when the public realizes that from
ten to eighteen actual business men think
enough of the project to sacrifice their prl-
vate pursuits in order TO solicit subscrip-
lions the list win not be slow in reaching
the required amount
After mature deliberation the executive
committee has decided that at least $780,
900 will be required TO commence work on
the San Francisco, Stockton and San. Joa-
Quin Railroad, but it IS confidently ex-
pected that the amount of the subscrip-
lions will far exceed the minimum figure.
1t is settled, however, that should the list
fail TO reach the amount Of $4,000 the
entire subscription will be Cancelled and
no collections made.
1t is distinctly set up in the agreement
between the trustees and subscribers that
the capital stock of the new company is to
be S6.000 600, divided into $4,000 shares of
the par value of 500 eacD, and ii at the
end of ninety days $780, 900 has not been
subscribed, the board may extend the
time for ninety days additional. On the
contrary, should this amount be realized,
the company VIII be Incorporated and 90
per cent of the subscription will be called
for in order 10 inaugurats the preliminary
work, and the remainder will be called for
in not to exceed 20 per cent installments,
the whole to be paid in not less than six
months. This makes the payments easy
for every one and the proposition on its
face should not fail to satisfy the most
conservative of business men.
The executive committee from the out
set has endeavGred to demonstrate that a
subscription to the San Francisco, Stock
ton and San Joaquin road should not be
regarded as an set of philanthropy, but,
Oh the contrary. as SOUND business
proposition.
The line will traverse one of the
most productive districts of the State,
and when once built the people will
surely flock to its support and aid. The
first subscription received yesterday by
Manager Leeds was by wire from the in
terror. The subscriber was a young man
working Oh a modest salary, but he is the
\ owner of small tract of land in the San
4 Joaquin Valley and professed 10 realize
the great Importance of the proposed en-
terpUise.
AS before stated the executive commit
tee. consisting Of Isaac Upham, Robert
Watt, F. W. Van Sicklen, 3. F. Durham,
Alvinza Hayward, A. f. Marcus. Charles
NJ. Yates, John T. Doyle. Ansley G.
Davis, George T. Marye, Jay Denning,
Thomas Magee, A. H. Veil, Leon Sloss.
l.. 81. Bonesteil, c. T. Settle of San Jose
and S. n. Griffith of Fresno, will start out
alter to-day'S meeting and canvass the
town thoroughly. For a period of ten
years the road is TO be operated by board
of trustees-Isaac Upham, F. w. Van
Sicken, B. F. Durham, Alyinza HAYWARD
and Thomas Magee-and the names of
these gentlemen are considered sufficient
TO convince the public of the competing
nature Of the road.