The morning call., 1895-02-18
OAKLAND is ANXIOUS.
The CITY MAY SUBSCRIBE IF IT Is
MADE THE TERMINUS.

The Oakland committee for the San Joa-
quin Valley Railroad has been IN con-
tinued session almost since it was ap-
pointed by the Mayor and the Merchants
Exchange, and even held a short session
last night. All the members are very en-
thusiastic and feel that they will have no
trouble to raise any amount asked for.
The committee now styles itself the coax
land Terminal Committee, and.last night
issued the following address to the people
of Oakland:
OFFICE Of THE OAKLAND TERMINAL COMMITTEE,
Rooms 80 and 80, 500 Broadway, Delger
Block, between Ninth and Tenth streets.
OAKLAND, Cal, February 49, 1895.
To the Citizens Of Oakland: The undersigned
committee to devise a plan and secure sub
scriptions to aid in bringing to the city of oak
land the western terminus of the new Compel
ing railroad, beg leave to lay before the citizens
OF Oakland the results OF our deliberations thus
far and the plan unanimously agreed upon
Flrst-1t is TO be constantly borne in mind
that what is asked is not donation nor bonus
but subscription to a legitimate enterprise
that furnishes every evidence of being profit
able as a legitimate investment from the start
From all present indications it will be a road
built by ready money, not by bonded debt,
contracted and made a mortgage upon the
property. The difference is fundamental. ANY
over-burdening OF an enterprise with fictitious
bond issue is out OF consideration, and all the
road has to earn In order to pay is a profit on
its bona fide actual cost, not upon an inflated
paper valuation in the form OF debt created
for bond selling purposes. With this in view, as
well as the fertile route and assured prospects
OF the new enterprise, subscription to the
stock can be properly considered only as good
investment, not donation.
Second-ThOSe subscribing have a right To
know that the object of their subscriptions will
be practically attained; that the terminus of
the road will be at Oakland at some place of
practical advantage and utility, both to the
railroad company and the city of Oakland No
narrow limits or special interests are to be CON
sldered, but the general interest and welfare of
the city alone should be determinative. With
this plan and purpose in mind the committee
has thoroughly considered the situation and
territory and the numerous details involved in
proper solution OF the question. By ''comiug
to Oakland is understood coming to the
upland, or at least the marsh in Oakland
Nothing less would be effectual. The part of
Oakland available for the railroad terminus
comprises four or five times much area
under tidewater as above it The area under
tidewater extends on the northwest from five
to six miles northwestward from the shore line
Il. e., about eight miles northweSterly from
the business center.
Any railroad merely entering and terminating
there from the outside, without first entering
and crossing the upland marsh, would not,
IN any proper sense, have its terminus in Oak
land. The southwest corner of Oakland is half
as far from the shore and a terminus there nm
less reached after crossing the upland or marsh
in Oakland, would be outside terminus in
TACT, although within Oakland in name Using
the words coming 10 oakland alone without
specifying any area, leads to other results
equally Objectionable, without enumerating
them here. The foregoing sufficiently Illus
trates the point and shows why the committee
has formulated the Oakland clause of the SUBJ
scription contract as it has, namely:
''The subjoined subscriptions are made upon
the express condition that said railroad com
pany shall, before collecting upon this sub
scription list and within six months from the
date hereof agree that within two years from
date horeof it will construct and operate and
thereafter maintain the western terminus OF
the tracks OF its main through line within the
city OF Oakland above the line of ordinary hi h
tide, south OF the original northern charter line
OF said city, west of the old e1nbarcadero OF San
Antonio, and extending thence to navigable
water-otherwise these Subscriptions to be null
and void"
All that this requires is that the railroad
shall enter the real Oakland and extend thence
to navigable water either south or west And
entering this territory is to the advantage
alike of the railroad, the city and the com
allows the company six months to determine
Upon deciding that atfirmatively the subscrip-
eighteen months moro within which to bring
the terminus here. The time allowances are
sufficient, and also enable the company to col
leet and use the subscriptions in the eonstruc-
ton OF the road at any time after Oakland is
chosen as terminus. The calls for the sub
scriptions will extend through six months at
least and as much beyond as the board of di-
rectorS OF the company may determine The
20 q 80 htf 1af hrnr1 ~,