The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-10-09
BUTTE, BOISE AND SAN FRANCISCO
Huntington Has Very Poor opin-
ion of 1t.


ion of 1t.
SAN FRANCISCO, Oct. S.-The pro-
posed Butte, Boise City & San Fran
cisco railroad continues to be a leading
topic of conversation in local banking
and business circles.
The statement made by E. T. Wood
worth, Of Denver, that San Francisco
was going to give a bonus of $1,000, 900
to his new road, was read with amaze
ment in this city. Nobody, as far as
can be ascertained, has heard of any
movement to raise such a bonus in
this city.
Woodworth's rash remark about a
bonus, following as it does on the
heels of Moritz Lippman's statement
That the new road had already made
arrangements for terminal facilities in
San Francisco and Oakland, has caused
a number of prominent people to view
the enterprise with distrust; and vet
they do not wish to say or do any
thing that may hamper these men if
they are sincere in their efforts to build
a road from Butte to San Francisco
The general opinion is that it is best
TO give Lippman and his associates
plenty of time to show their hands. If
then 1t is shown that the enterprise
can be carried to a successful Issue
the men who are backing the enter
prise VIII be assured of the hearty
support of San Francisco.
I. +. huntington saiQ, when asked
what he thought OF the scheme:
What do think of the Butte, Boise
Slty % san Francisco railroad scheme?
w eIl. | nave gust the same opinion about
II as -! would have about the construc-
ton of a road to the moon. Material is
very cheap now, and Yet it would cost
/ 000 TO build such a line CAPITAL is
.
know what sort of an investment such a
road would offer There is no business to
amount 10 anything between here and
Butte. My credit is good in New York
as that of the Bank of England and yet
l could not borrow $5o.900,0OO there TO put
into sucn, a road. have been borrow
I ing and handling money in New York
for fifty-eight years and l know What [
am talking about.
Capital wants returns on its invest
ments, and a Butte-San Francisco road
could never answer that requirement.
Why, for the greater part of the road
there IS no more business than on The
Central Pacific between Reno and Co.
rinne. The latter stretch OF road might
as Well be built in the air as Tar as local
/ business IS concerned.
I do not fear contradiction when I say
that Lippman and his associates would
have to raise S500O0,OU0 10 build any de-
cent road with GOOD terminals
/ AS 4 matter of fact, there are too
many roads in the west for the volume of
/ business. l will make the statement that
/ between here and a point go miles west
/ of the Missouri river | Will agree to
/ handle ten times the present volume of
! business Yor a single track road like the
Central Pacific, with say q ten per cent.
! Increase in side tracks. If the Central
/ Pacific has today 10 per cent OF side
tracks l viii or would increase the side
tracks to 70 per cent. and handle as l
have already stated ten times the
amount OF business which is being done
today between the points 1 have men
/ toned. And l would DO 1t at regularly
reduced rates and make money.
Il have all along told New York bank
ers | could do this. and it is the truth.
Why, look at roads like the Northern
/ Pacific Atchison and Union Pacific. They
are ali in the greatest hnahclal distress.
! The business done by western railroads
does not give them any profit worth
quite aid the Montana country are
naturally tributary to Portland, ore.
. They are on a. western doWngrade to tue
! sea and commerce in the long run, lol-
lows the lines of gravity. You cannot
{ overcome gravity for it is too great a
+ factor even in commercial lie. II, nov
/ ever there are people VINO want TO Dulld
overland lines into California 1t IS none
of my business. If they want to lose
money in such manner, that is also none
; of nv business unless they come and
Wsnt nv advice. Then l would show
I them how fine 1t was 10 say you are
I huiIding a dig road and how easily II is
! to dron a Zig lot of money these days.
am not trying to prevent anyone putid-
+ ING any more overland roads. doh |
are how many reads are built and 1t
NO not make any difference If did
! core because some man may or lhSHl
come along who had money ana ue!eI-
,,oina+ion IL construct an Overland me.
If would Oe his affair and not nine.