The morning call., 1895-01-29
MANY MONEYED MEN.
The Valley Road Holds Their
Support.
SOME STARTLING FIGURES.
Wealth Held by Members Of the
New Committee.
one MAN WHO CAN BUILD THE ROAD.
Precautions in the Plan te Be Adopted
to Ensure the Road Remaining
Competing Line.
one MAN WHO CAN BUILD THE ROAD.

The daily sessions of the real estate COM
mittee, which is now formulating the plans
for presentation to the public upon which
it is expected to construct the San Fran
cisco and San Joaquin railroad, were con-
tinued yesterday.
One of the first matters receiving con-
sideration was a motion that the future
proceedings of the committee be strictly
private and that its actions shall not be
given to the public until all plans had been
perfected and the actual work of raising
the money was under way.
seThe road has been heretofore built in
the papers," said Thomas Magee yester-
day, 'and we have agreed that nothing
shall now be said until the proper time has
arrived"
One matter of Importance which has
peen given much attention by the commit
tee is that pertaining to keeping the road
perpetually a competing line, and it is
understood that in order to effect this pur-
pose the same plans of organization as that
adopted by the Missouri Central and the
Reading road, under its reorganization,
will prevail.
IuC J1oIl VI GLCSC GMO IOduS IlNOlNSS lilc
creation of a pool, in which all the stock
of the company is placed. The trustees
elected are empowered to vote this stock !;
in fact the stock is nominally held in their
names. Instead of stockholders certif-
Gates being issued to subscribers, trustees
certificates are substituted, they answering
all the purposes of the former and differ
ing only in the absence of the right to
vote it.
The stock would be voted by these
trustees, and the power invested in them
would be perpetual unless changed by ac-
ton of a specified majority of the stock
holders, and it is right here that some diff
ference of opinion prevails among the
committee.
Some of the gentlemen are in favor of a
plan by which two-thirds vote of all
stockholders shall be sufficient to change
the policy mentioned, while others again
favor making it three-fourths vote in
stead. The latter gentlemen are only anx-
ious that all possible precautions shall be
taken to secure the desired result.
Claus Spreckels and w. F. Whittier were
in consultation yesterday when they were
approached and asked for information
about the committee work. Both gentle
men said that nothing could be made pub
lie before to-day and probably not then.
''The subscription books will probably
be ready by tomorrow" said Mr.. Spreck-
els, "and then we may have some news for
you"
Mr.. Whittier and Mr.. Spreckels both said
that they desired to contradict statements
which had been made as to the attitude of
the committee toward the Traffic Associa-
ton.
''That body deserves the greatest credit
for its past work, " said the gentlemen,
"and we are working in spirit of the ut
most harmony with its members. "
The character and standing of the indi-
viduals who compose the committee of
eighteen was the subject of interesting re-
marks by President Upham of the Traffic
Association yesterday.
'People don't appear to realize the i'm
mense amount of capital which these gem
tlemen either possess or represent" said
he. "Why, if you foot up an estimate of
their aggregate wealth, you will find that
it goes above the immense sum of $100, o00,-
600. Just think of that amount of capital
in the hands of the active spirits who are
now outlining the plans for the formation of
the road Individually they number some
of the strongest citizens of San Francisco,
l Just want to run over the list moment.
'"The first man on it is the chairman,
Claus Spreckels. don't believe a man in
San Francisco knows what he is worth
aside from himself-and / expect he would
find it pretty difficult matter to give
close estimate offhand. OF all the men in
San Francisco, there is none more univer-
sally successful in all that he undertakes
than Mr.. Spreckels Whenever he under
takes a thing he invariably puts it through
in fact, he has never yet recorded failure
in a business undertaking. Aside from
his great wealth, he is possessed of indomi-
table energy and will-power, and is pos
sessed of that kind of a disposition which
never gives up when it undertakes to do
thing regardless of obstacles that may be
encountered.
SIT is said of Boyd & Davis, of which
Alexander Boyd another committeeman, is
member, that they stand second in the
list of real-estate owners in this city. I
have no doubt but that when the proper
time arrives they will be found among the
many subscribers for stock.
"Of James D. Phelan it is hardly neces-
sary to say anything regarding his wealth,
as he is conceded to be very rich man.
He is not only this, but he is recognized as
one of our most public-spirited citizens.
Whenever any project having for its object
the public good has been advanced Mr..
Phelan's name has always been connected
with the work and he has given his money
with liberal hand in its support.
go. D. Baldwin is also wealthy man,
and is the individual who few years ago
started out alone to procure subscriptions
for competing road and succeeded in
raising several hundred thousand dollars.
sit is difficult matter to estimate the
wealth of Daniel Meyer, but he is known to
be possessed of great resources. He is very
largely interested in the prosperity of the
city, and will undoubtedly utilize his best
efforts to secure the new railroad. There
are few men in the community who will be
able to do more. There is no means by
which his influence with the Hebrews of
the city can be gagged, but it is recog-
nized fact that that element of our popu-