The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-06-01
REORGAN|zED,
New Lease of Activity Signified
by the Deposit of
Bonds.
Extension of the System to Connect
With the Valley Road May
Follow.

New York press dispatch dated yes-
terday announced that $67, OO0, 900 of Atchi-
son, Topeka and Santa Fe general 4 per
cent bonds had been deposited with the
joint reorganization committee, or 2,OOO.-
GOO more than majority.
Some two years ago receivers were an
pointed for the Atchison and other roads
connected with the system, notably the
Atlantic and Pacific and the st. Louis and
San Francisco. The failure of this great
railroad to raise money in Europe to meet
the interest on its bonds came at time
when many people in California were ex-
pecting an extension of the system to San
Francisco. Now that the scheme for re-
organization has been made effective the
work of extending the line to this CITY or
to point connecting with the Valley road
will not, in the nature of things, be much
longer delayed.
Early in April of this year Wheeler n.
Peckham, Edward King, G. G. Beaman
and w. H.. Rossington, representing the
road and the Union Trust Company of
New York, together with George r. Peck
general solicitor of the Atchison system
inspected the properties of the corporation
and paid visit to San Francisco. When
asked at that time concerning the further
extension of lines in California they in.
formed the CALL that everything would
depend ON the success OF the reorganiza-
ton then prevailing. The Importance of
direct connection with San Francisco was
appreciated, but pending negotiations with
creditors 1t was deemed best not to discuss
the question. Moreover, the representa-
tives of the Atchison were at that time the
guests, in sense, of the Southern Pacific.
and were constrained by rules of hospitality
Eve III, ~ IL ~
the Valley road.
Ever since the Atchison, Topeka and
Santa Fe went into Southern California
and did so much to promote it's own bust
ness and develop the country about Los
Angeles and San Diego, strong pressure
has been exerted in favor of completing
the system by extending the road to the
bay of San Francisco. When the true his
tory of negotiations with Mr.. Huntington
comes to light it may be shown that vast
subsidies were paid to check the spirit of
progress which once animated the Atchi-
SON.
1t is known that rough or preliminary
survey of the country between Mojave ana
San Francisco was made and terminal
ground on the eastern shore of the bay
examined.
Men of Boston and New York who freely
invested their money in the bonds of the
system and saw the gradual extension of
the road from Atchison to Topeka, thence
on to the Arkansas Valley and west to
the Pacific Coast, as well as east from
Kansas City to Chicago, conceived that
ultimate success would be achieved when
the road reached San Francisco. For some
reason, not yet understood by the public
or the stockholders, building operations
stopped. Confidence gave way to doubt
and the great corporation passed to the
control of receivers. Now a new turn in
affairs is about to be made. The creditors
have expressed their confidence in the
joint executive committee by deposlting
bonds to the value of $67, 0OO, 600 In effect
and handle this property as your judgment