The morning call., 1895-02-11
Mission Bay shore, and the cowyard chick
ems roost upon the piece of plank that bears
her name-"Pride of the Bay"
IT is INCORPORATION NOW.
The New Road to Begin Legal
Organization.
The Committee Will Incorporate This
Week-A More Thorough Canvass
to Be Organized.

The members of the San Francisco and
San Joaquin Railroad committee will have
one of its most important meetings this
afternoon. Now that all doubt of the sue
cess of the enterprise is removed they are
to prepare a more formal organization.
To-day the first steps will be taken to-
ward forming a corporation, the attorney
of the committee, E. f. Preston, having
prepared drafts of the articles of incorpora-
ton and bylaws. Little more will be done
at this meeting than to consider some of
the details, but it is expected that the cor
poration will be legally formed within a
week.
The committee will to-day also system
atize the work of canvassing and appoint
additional canvassers to cover the city
thoroughly. So far that work has all been
done by a few members only of the COM
mittee There are a number of people
from whom large subscriptions are ex-
pected who, owing to absence or the neces..
sity of consultation, have not subscribed,
but who will come in this week-notably
the Sharon estate.
All the members of the committee feel
that they have had much more success
than they anticipated, and say that they
expect to build the road, if not on cash
basis, certainly with very small issue OF
bonds.
AS to any of the details, such as the
route or when work will be commenced,
the members of the committee have no
opinions to express. Most of them have
given their thoughts solely to the question
of raising funds for the road.
Charles Holbrook said last evening:
''The feeling of all the members of the
committee from the first has been that we
should build the road with cash sub
scribed and the issuance of as few bonds as
possible. ] feel that this undertaking
means much more than the building of
the San Joaquin Valley road. 1t will do a
great deal more in developing other enter
prises. 1t will not only keep California
capital here, but will soon offer irresistible
inducements to foreign capital to come in.
One man here who has not subscribed has
said to us that if the road goes through he
would be willing to invest half million in
subscription and bonds. We expect great
many more subscriptions from the timid
ones who have been waiting to see whether
the road is to be assured first. The road
when built down the San Joaquin Valley
will do much more than reduce the rates
along the line. The same rates will have
to be fixed then for the Sacramento Valley
through the Railroad Commission.
w. T. Whittier said: II have no doubt
that we shall get another two millions in
subscriptions within thirty days In fact
we have called upon very small proper
ton of people who are able to subscribe as
yet. Tomorrow we shall organize more
thorough canvass So far the work has
been done by few of the members. But
we have done much better than we ex-
pected at first. We have good many
promises of subscriptions and many of
them are large ones. We expect to hear
from the East of several on Monday and
Tuesday"
THE chief dependence of those liable to sudden