The herald., 1895-03-17
No New Developments in the
Local Situation
SPECULATION AS TO RESULTS
A Possibility that the Present Man.
agcment Will Be Retained
A Long List Of Passengers the
Sunset Limited-Notes and
Personals

Nothing now developed in the local sit
uation as regards the electric road yester-
day. The press dispatch from San Fran
cisco published in The Herald yesterday
morning caused some talk among mon
eyed men. but Their; were none IN posi-
ton to throw any light on the probable
future OF the company. General NJ. H,
Sherman, the president OF the company,
is in San Francisco looking after his in
terests, and there is no one in Los An
geles who can make any authoritative
statement so that all information will
have to come from the other end OF the
line until the arrival of either the General
or the bondholders' rep esenatives.
When the bondholders' committee was
in thu, city some days ago it was stated
that they were more than pleased with
the showing made, and that they we re
SO well satisfied with General sherman S
management that there would be no
change so far as he and the other officers
were concerned. AS to the appointment
the bondholders really did not wish to
take the road out of the hands of tile
stockholders but would prefer to work in
harmony with them, and as far as posi-
bic protect their interests, if this could be
done without jeopardizing the bonds.
Furbner SGlI III was Salu JlldC Tue DOuu-
holders were prepared to advance such
funds as were necessary to put the road
in frst-class condition and increase its
earning capacity up to a point where
there would be no further trouble about
meeting the interest. Be this as it may,
it would appear that from some cause
the bondholders have changed their
minds, and the foreclosure proceedings
will follow. A. new company will be or
ganized, and the property will be bought
IN
There is much speculation as to who
will take charge under the new manage
ment. The dispatches state that it will
probably be Mr.. Trumbull on behalf of
the Chicago bondholders. While nothing
is known here many persons believe that
Mr.. G. P. Clark the present vice-presi-
dent and general manager, who is broth
er-in-law of General Sherman, will be re-
tanned. 1t is said that Mr.. Clark was as
sured by the bondholders' committee
during their visit that they were satisfied
with his management and that even in
the event of reorganization, there was
no reason from business standpoint for
making change. If this is SO, Mr..
Clark will probably remain in his posi-
controls a majority of the stock, will be
thrown in his favor, and if the bondhold-
ers really wish to work in harmony with
thesstockholders, this lis no small factor.
The present superintendent, Mr.. Akin,
will probably be retained, although the
dispatch says that General Sherman de-
sires this place for Mr.. Clark. Mr.. Akin
has been with the company at least ever
since the cable road first started, and has
always been regarded as the local repre-
sentative of the Chicago bondholders.
He was auditor of the Gable Company,
and when the consolidation was effected,
took charge as superintendent relieving
Captain A. W. Barrett, who was instru-
mental in securing the electric franchise,
and who, when the company was organ
lied, was given the place.
Much interest is felt among all classes
of citizens in the future of the street car
system. which is conceded to be the best
of any city of the same class in the coun-
try. The franchises of the company are
very valuable. and it is only question
of a short time and the expenditure of
comparatively small amount of money,
when not only will the interest be
promptly met on the bonds, but the stock
nav dividend.