The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-08-08
TO RUN TO RED BLUFF.
Proposition of the California,
Oregon and Idaho Com
pany.
CITIZENS ARE ENTHUSIASTIC
Subscribing Literally to the Mort
gage Bonds of the New
Line.

EUREKA, CAL, Aug. THE greatest
enthusiasm now prevails IN Eureka over
the proposals OF the California, Oregon and
Idaho Railway Company, presented by
Cyrus w. Baldridge, as financial agent.
Mr.. Baldridge's arrival and an outline of
his proposals were first mentioned some
weeks ago in THE CALL. Since then, Mr..
Baldridge has quietly interviewed some of
the leading citizens, who through proper
inquiry have made sure of the gentleman's
reliability. A proposition has at length
been submitted to the people of the county
whereby for the sum of $500, 600, subscribed
by the people in first or second mortgage
bonds, drawing 5 per cent interest and to
run twenty years, the California, Oregon
and Idaho Railway Company agrees to
build standard gauge road from Eureka
to some point in the Sacramento Valley,
at or near Red Bluff, the road to be COM
pleted within three years from the time of
subscription.
gkThe sums of money are to be paid as fol-
lows: Five per cent on call and after the
terminal is secured on Hum boldt Bay; 10
per cent when the railway company shall
have completed its roadbed between its
terminus on the bay of San Francisco and
point at or opposite Red Bluff, and work
on the roadbed shall have been COM
menced at some point in Hum boldt County
toward Red Bluff; 20 per cent when the
company shall have performed one-quar-
ter of the work of building from the start
ing point on Humboldt Bay toward the
. Sacramento Valley; 20 per cent thereof
when the company shall have performed
half of the work; 20 per cent when the
company shall have performed three-quar-
tiers OF the work; and % per cent when the
work is completed, within three years IN
less prevented by the DEGREES or injunc-
tons of the courts or by the elements.
This company was duly incorporated
under the laws of the State of Oregon on
the 18th of April 1895, with a capital stock
OF $80O,O00. The incorporators and board
OF directors for the first year were: Robert
Glow, W. J. Morton, W. B. Beebe, c. A.
Harp, all of Junction City, Or; Cyrus
Baldridge of Kansas City, Mo-, and j. NJ.
Bassett Of Oakland, Cal.
The objects and purposes of the corpor-
alton are for building, maintaining and
operating railroad system from Eureka,
easterly 10 the Sacramento Valley, at or
near Red Bluff; thence easterly to Burney
Valley; thence northerly to the Pitt River;
thence following the Pitt River through
AIturas and up the east side of Goose
Like; thence northerly to the Snake River,
crossing the Union Pacific Railroad about
1000 miles north of Ogden, Utah; thence
east to Fort Caspar, Wyo., the western
terminal of the Chicago and Northwestern
Railway, where it connects with the Van
derbilt line; also to build and operate in
connection with the same branch from a
point at or near Redding, following the
foothills on the western side of the Sacra-
mento Valley, to San Francisco, and
branch from some point convenient on the
main line of the road to klamath Falls
and Harvey Valley, Or.
While it is the intent of the company to
secure all business possible for the road,
yet its expectation is not so much the
dividing of the freight traffic now handled
=. by the other transcontinental lines already
In this State as it is the receiving of a large
volume of business from the new fields
teeming with bountiful resources it will
open up, and by stimulating the lumber,
fruit and other industries along the line of
its road and in its legitimate territory by
reasonable freight rates. The annual in
1CAO1G NAAe~4 VI WV pa 44AA4OI pay dDlO W
the bondholders on the bonded indebted
ness OF SIS, 900 per mile, are such that they
will enable the company to make freight
rates at about one half the charges now
current with the Southern Pacific Rail-
road Company.
All necessary arrangements have already
been made for the sale of nearly all of the
frst-mortgage bonds, at or near par, to
Eastern capitalists.
The work on the road will commence as
soon as the people of Humboldt County
pledge themselves in subscription for $780,
600 worth of bonds. Only the smaller
property-holders have yet been solicited,
and nearly 100000 worth of bonds have
been subscribed for. If the larger capital
lists sign as literally as their less-prosper-
Gus fellow -townsmen the remainder will
be secured this week and work begun on
the railroad which is to connect Hum boldt
with the outside world, and for which she
has striven so long.