The morning call., 1894-08-10
THE VALLEY ROAD
Once More 1t Comes to
the Front.
ACTIVE WORK THE ORDER.
The Traffic Association Takes
the Matter Up.
SUBSCRIPTIONS TO BE OPENED.
ACTIVE WORK THE ORDER.
SUBSCRIPTIONS TO BE OPENED.
An Enthusiastic Meeting Held Yes
terday Afternoon and the Pre-
Iiminary Work Well in Hand.

Refrigerated by some months of rest.
REINFORCED by a more favorable public
sentiment and reassured by the unsolicited
proffers of assistance from number of
sources, the Traffic Association of Cali
fornia once more takes the field, equipped
for aggressive action in directing the fight
for the construction OF the San Joaquin
Valley Railroad.
These months Of seeming idleness have
not il fact been nnprOfitabiy spent Each
week that has passed since the association
announced its intention to abandon its
cherished hopes for time has brought TO
the members Of that body some helpful aid
toward solving The problem before them IN
the way Of timely suggestions or profitable
advice. Mistakes that IL was thought had
possibly been made were discussed care
. fully and precautions taken to avoid
repetition thereof. Line by line the future
q plan of action was taken up and con-
sidered until the members now feel
= assured that they can once more 90 before
:. the people of California and ask them to
sustain the pro position in question, backed
as it is by the unqualified favorable opinion
and active support of earnest conscientious
business men, who IOTeSee therein Tea-
Sonable avenue of escape for the people
from the TapaclOuS greed of corporate In
terests which threaten the vital industries
of the State.
Yesterday the first gun of the campaign
was fred as they say in political parlanCe,
when the executive committee OF the
Traffic Association met and unanimously
decided to take up the work where it was
dropped last year when the widespread
business depression throughout the land
madA IL OapeSSaTV In abandon active
alton.
There was not a dissenting voice when
the question was fairly put: Gentlemen,
shall we once more urge upon the people
of this city and State the absolute necessity
OF building the San Joaquin Valley Rail-
Toad?" Every man present had some
thing to sag - pointed, enthusiastic re-
marks, all OF them, in favor OF the pTopO-
stion, and it was urged with much foUcs
that there should be as little delay as pos
sbIe in formulating the necessary plans
and presenting them TO the public for con-
sideratiOD.
Traffic Manager j. S. Leeds has never
for moment lost faith in the ultimate
success OF the undertaking, and last night
had the following to say, in general way,
regarding the project: Il have had an
idea recently that the time was ripe for
the Traffic Association TO prosecute its
work IN the direction of building the San
Joaquin Valley road. The people have
been cropping around in various ways
seeking some railroad to further the propo-
sitlCn. At Hantord the residents are
seeking an outlet to the bay, Visalia has
passed favorable resolutions, which you
have already published, and at Stockton,
where l have personally talked with
d; number of persons lately, the opinion pre-
walls that the people are ready to take up
the work.
For these reasons l have urged upon
the Traffic Association the necessity for i'm
mediate action, and | am glad to state that
the response was hearty and unanimously
in favor Of the suggestion, and at tie
=; meeting to-day resolution TO this effect
was passed, and it now only remains for
us to secure the active cooperation OF the
people, which | am firmly convinced will
: be secured. The public has always be-
lieved in the necessity for this road, but
; has only recently been able to realize the
further necessity that it should be built by
the people, and that relief to commerce
must come in correction of tariffs and
local rates within the limits Of the State
: rather than in CONF petition between over
land carriers in through business.
e. II have been authorized by the eXecu-
:. tive committee to prepare a plan upon
= which subscriptions will be taken, which
will be associated with a pledge that the
:: road will be main tanned as a competing
:. Lime. The subscription s raised before have
:: been allowed to lapse, the limit In which
:: they were given being six months, and it
e.. has now been one year. They will neces-
:: sarily have to be renewed. and we have no
:. doubt as to the greater part Of them being
:. again placed on our books
1.-The high local rates maintained by the
Southern Pacific and other roads between
:: the Pacific seaboard and the interior of the
Pacific Slope are intended to be prob bi-
: tive. The san Joaquin Valley road is in
; tended as an entering wedge TO secure to
=: those people who are now at the mercy of
the corporations referred to the benefit of "a
:. reasonable tariff upon their products in
transit to the seaboard or in the opposite
direction.
Now, l just want to add word as 20
the possibility of profits to the builders of
thu road. From Stockton to Bakersfield,
which is contemplated as the first section
Of the enterprise, is about go miles. The
estimated net cost complete and equlpped)
: of the road on basis OF present prices is
about S15 500 per mile. This would neces-
State net earnings Of $1,000 per mile per
annum over and above operating expenses
and taxes to meet interest on the funded
debt and pay a dividend of 6 per cent on
the pald-up capital.
"a careful analysis of the annual re-
ports of the Southern Pacific Company in
dicateS gross annual earnings by lines Of
that company in the San Joaquin Valley
OF about So, 900 per mile. The operating
expenses OF the San Joaquin Valley road
HOulu 10 NCA9 llent3 OH SSuuiLlOuo Dolu5
extremely favorable 10 cheap construction
and cheap operation. On account of the
absence Of heavy grades the same power
Will move perhaps double the number of
ions of freight that would be required in
any other portion OF the State. The oper-
~atjng expenses of the Southern Pacific
Company for the Pacific system, prior to
1S93 as shown by the annual reports of
thai road. were about 81 per ceut of the
gross earnings. This would be very ma
terlally reduced when applied to the San
Joaquin Valley road for obvious reasons.
l calculate that railroad into the valley
named, with no desert or mountain road to
support could earn its fixed charges, a
dividend on capital stock and meet all
other obligations III the way of operating
expenses, taxes, ETC., on gross earnings
per mile Of less than half the gross earn
ings of the present lines in the San Joaquin
Valley"
1t may be of interest to touch slightly