The herald., 1894-11-06
NEWS OF THE RAILWAYS
THE SOUTHERN PACIFIC TO MOVE
TO LOS ANGELES THEATER.
Changes at the Arcade Depot = New
Route to st. Paul-Politics in the
Air-The Financial Oondl-
tion of Railways.

Arrangements have been perfected BY
which the Southern Pacific passenger
and freight Offices will be removed from
their present location. corner Of Second
aid Spring streets. to the Los Angeles
Theater block on January 1st. The
! lease OF the office fronting on Spring
street held by Scott & Whitaker, the
insurance firm, expires at the end oi
the year. and at that time the Southern
Pacific will take possession and also OF
the two large rooms on the floor above.
The Union Pacific passenger and freight
offices, at present sharing quarters with
Scott & Whitaker. will occupy q por.
tion OF the premises belonging to the
Security Loan and Trust company, at
223 Spring street. These new Offices
will be more commodious for the Union
Pacific, and will be handsomely fur
nished. Being only three doors from
the Southern Pacific the location will be
particularly desirable one. W. III.
Davenport will look after the freight de.
partment OF the Union Pacific, while
M. A. Gray will be the passenger agent.
At the Arcade depot yesterday the
offices upstairs were in an upset condit-
ion in consequence of certain altera-
tions being made. Henceforward .
private office, cut off from the large
general Office, will be devoted to the
purposes OF maintenance OF way, with
Resident Engineer Swain in charge.
NEW CONNECTION WITH ST. PAUL.
On the 10Th inst. the Southern Cali.
fornia road will inaugurate q weekly
tourist train between Los Angeles, ST..
Paul and Minneapolis. MINI. II will
leave this city every Thursday morning
at O'Clock, and the incoming train will
arrive at p. m. Wednesday. This con.
nection with the middle states will be q
great convenience to the travelling pub
lie and is bound to become q popular
service.
POLITICS IN THE AIR.
At the noon hour yesterday, when the
men in the Southern Pacific car shops
at the San Fernando street depot quit
work for luncheon, Mr.. Mussey, time
keeper for Mr.. @. 9. Dannatan, foreman
of the shops, took the opportunity to do
little pulling" for the company. With
fatherly consideration for the interests
OF the workmen he addressed them in
kindly manner. and said they ought to
vote for those men at the coming cleo.
tion in the hands of whom the interests
OF the Southern Pacific company would
be safe. The railroad company is pro.
viding them with their bread and but
ter. and it is, therefore, their duty to
stand by it.
FINANCIAL CONDITION OF RAILROADS.
From the decade from the beginning
of 1884 to the end of 1898. 74,34S miles
of railway. operated by 3ll independent
corporations and capitalized at 1888,
731 900, passed into the hands Of receiv-
ere. OF tlis total 20, 476 miles, or 40 per
cent Of the mileage, capitalized at 81, ,75S,
$4,000, or 46 per cent of capital, was
placed in charge of receivers during the
year ending Decem Der, 1898. The entire
mileage operated by receivers on that
date was 40,279, and the par value of its
stocks and bonds 1921. $50, 900, consti>
tutiDg % per cent and q per cent re-
spectively of the total railway mileage
and capital in the United States.
During 1898 75railways, operating 1913
miles ofroad. and represented by $79.-
924 1000 of capital stocks and bonds. were
sold under foreclosure. while the num-
Der thus sold during Is years, from 1876
to 1898. Inclusive, was 51l, their aggre-
gate length 81 ,2S3 miles aud their oapi.
talization So, 209. l26, 900.