The San Francisco call., 1895-05-23

the Governor, "and you could not redeem
them, then the road would be sold.
eDo you think that that can be done p
asked Alvinza Hayward.
II know it can be DONE" responded the
Governor. 81 don't suppose that it will be
done by you gentlemen, but we cannot tell
who will be your successors"
II am surprised to hear the Governor OF
the State raise such questions" said Mr..
Hayward;
81 don't know whether you are aston
lshed or not, Mr.. Hayward, - retorted the
Executive rather warmly, "but | am here
to see that all provisions are made for the
protection OF both the road and the State. -
Later on the Governor and Colonel Pres
ton had tilt about the lease as it was pre-
sented in Sacramento
"1f the lease which you had submitted
in Sacramento had been approved" said
his Excellency hotly, cit would have
ruined your company; and now Mr.. Hay
ward tells me that he is surprised at my
raising questions. I have done everything
in my power for the interests of both the
State and the Valley road"
Oil was poured on the troubled waters,
and Colonel Preston suggested that the as
signment clause referred only to the vol
untary surrender of the lease.
''What we object to mainly" he said, ''is
the clause whether by operation of the
law or otherwise That occurs in this
paragraph:
And the said party of the second part does
hereby further covenant, promise and agree
that it will not assign this lease, or any interest
therein, nor transfer to any other person or
corporation any right or privilege conferred on
the party of the second part by this lease, and
that any attempted transfer or assignment,
whether by operation OF law or otherwise, shall
at the option and election of the party OF the
first part render this lease void and terminate
all rights under it.
t'I see no reason why that should not be
stricken out" said the Governor. do you,
Mayor"
"None whatever" returned his Honor.
The Harbor Commissioners concurred,
and Messrs. Watt and Preston said that
was all that was wanted except the extern
sion OF the time required to build fifty
miles of road out Of San Francisco from
i've TO ten years and the elimination of the
retaining wall clause. The three provisions
were then read over one at time, and as
each one was read it was granted by the
board.
Just before the meeting adjourned
Thomas Magee, who had not before
spoken, made an eloquent speech on be-
half of the road, of the great good which
would result from it, and incidentally
spoke of the great expense which its con-
struction would entail. He added that it
was probable that two lines would have to
NC IQli IuIOUSu CtTldlu parts Oi Lue y.
In the afternoon Governor Budd and the
Harbor Commissioners met to revise the
lease, Mayor Sutro's sanction to their
action having been obtained in the morn
ing, and after the changes and elimina-
tions had been made Governor Budd made
the following motion:
81 move that this lease be the lease
adopted by the State Board of Harbor
Com missioners, that its attorney be in
structed to draw proper resolutions toward
the approval of the lease and that the
directors of the San Francisco and San
Joaquin Valley Railway Company be re-
quested to enter into this lease, execute it
and transmit it to US and we will there
upon execute it ourselves"
The motion was carried and the secre-
tary was instructed to apprise the direc-
tors of the Valley road of the action of the
board. The meeting then adjourned to the
call of the chair.
President Colnon was asked after the
meeting when the lease would be signed.
"That rests with the Valley road direc-
tors" said Mr.. Colnon. "They meet next
Tuesday, I believe, at which time pre-
sumo they will elect when the lease is to
be signed. | suppose the date will be fixed
for next Wednesday. The Governor leaves
for Sacramento tonight and will return on
Wednesday,"