The morning call., 1895-02-15

Der of Commerce, Merchants Exchange build.
ing, San Francisco.
February ID, 1895. Respectfully,
The Committee on Construction of the Sar
Francisco and San Joaquin Valley Railway
Company.
By CLAUS SPREcKELs, Chairman.
b. +. PRESTON, Secretary.
The committee appointed by Mr.. Charles Hol
brook, acting as chairman of the general com
mittee OF the San Francisco and San joaquin
Valley Railway Company, in the absence Of Mr.
Claus Spreckels, at the meeting held upon the
| 10th day OF February, 1895, to consider the
| form of the articles of incorporation and by.
laws and to report the same, together with the
| plan for the organization of the corporation
| back to the general committee, beg leave tC
| report:
| That your committee received the draft oi
| the articles OF incorporation and bylaws, as
| drawn by Mr.. E. F. Preston and submitted by
| him at the meeting OF the general committee
| and after examining the same, submitted them
to Mr.. T. B. Bishop, who kindly volunteered to
assist the committee, and also to Mr. John T.
| DOYLE of the general committee. conference
! between Mr.. Preston and Mr. Bishop resulted
in the settlement OF the form of the articles OF
| incorporation, Whlcn subsequently met with
| the approval of Mr.. John T. Doyle, and your
committee having examined the same, now
recommend the accompanying articles OF in
corporation as proper in form and substance
! for adoption.
The requirements for the appointment of q
| board of directors to serve for the first year
have received the most careful consideration
at Inc lAnuS OI your committee, VINO nave
been actuated in the matter by the sole motive
| of the concentration of ability and the selec-
tion of gentlemen whose position assures the
strength of the proposed corporation in the
| financial and business world, and, after most
mature consideration, your committee recon.
mends the following names for directors, to be
embodied in the articles of incorporation, who
are to serve by appointment for the first year
namely: Claus Spreckels, John d. Spreckels
w. f. Whittier, j. B. Stetson, Antoine Borel
Captain A. II. Payson, Charles Holbrook, Lewis
Gerstle, Alvinza Hayward, Isaac Upham and
The committee also recommends that should
the articles OF incorporation and bylaws meet
with the approval OF the general committee,
the plan of organization should be sub
mitted to a meeting of the subscribers to the
capital stock and the ratification by such sub
scribers-at-large of the action of both the gen.
eral and sub committee, and to that end your
committee recommends that meeting of all
the subscribers to the stock be called at a time
and place to be determined by the committee,
for the purpose OF submission to such meeting
of the articles OF incorporation and the names
of directors to be appointed for the first year
and the form of the bylaws to be adopted, and
that notice be sent to such subscribers of such
time and place OF meeting, calling the attention
of such subscribers to the fact that by section
294 of the Civil Code ten 1O) per cent OF the
subscription of each subscriber must have been
paid to the treasurer OF the subscribers for the
purposes of the corporation, and that only
those making such payment can be admitted
to participate in the deliberations of such sub
scribers' meeting.
The committee further report that after con-
sultation with the officers of the Bank of Cali
fornia, the bank will act if desired as treasurer
of the corporation and as temporary treasurer
OF the subscribers prior to such incorporation
and your committee recommends and submits
the name of the Bank of California as tempo
rary treasurer for the subscribers, pending the
organization of the corporation.
All OF which is respectfully submitted.
w. f. WHITTIER,
CHARLES HoLBRooK,
ANTONIO BOREL,
LEWIS GERsTLE
JOHN D. SPRECKELs, Committee.
San Francisco, February Ia, 1895.