The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-05-10
PAYsON AND HOLBROOK.
They Do Not Want to Be Con-
sidered as Outside Specu-
latorS.

Captain A. H. Payson found a few
minutes for expression of his views on the
lease, while he hurriedly made prepare
tons for his trip down the San Joaquin
Valley at night. He said:
The directors are not responsible for what the
Governor may say, or for what he may do. We
applied for lease of China Basin and we want
to get China Basin, but only under proper con-
ditiOns; certainly not under those terms SET
We don't wish to throw UP the lease-not at
all. 1t is very desirable to have the terminus
in San Francisco, and that is our ultimate in
tention. The Valley road shall come into San
Francisco.
Director Charles Holbrook of Holbrook,
Merrill & Stetson expressed surprise that
the suggestion of suspicion should have
been cast upon the public-splrited work OF
the Valley road directors. There was an
apparent tinge of Indignation IN his voice
as he spoke about the treatment the direc-
tors had received in connection with the
lease of China Basin:
We certainly would like to lease China
Basin on conditions that could be accepted,
but not with such eXactiOns as have been i'm
posed. 1 have spent all the morning and part
OF the afternoon with the Grand Jury, and now
Pm getting ready to start off on a tiresome
journey through the San Joaquin valley In
the interest of the Valley road. / am
sure Pm not doing all this for selfish
ends or for profit, nor are any of the other di-
TectOrS making a speculation OF the railway.
We are not set OF spectators. We are put
ting in our money with the understanding
that it cannot pay more than per cent, as the
bylaws strictly state. Now we could get
double that interest here in town without any
personal inconvenience to speak of. We are
spending our time on railroad, and Tor what?
To build up the San Joaquin Valley, the City
OF San Francisco and the State.
l think that the Governor and Mayor ought
to recognize this and should treat differently
with our company than if we were foreign cap
italists coming here to speculate.
The Governor said, 'If the Valley road does
not want China Basin the Santa Fe company
VIII be glad to get it," That is not the right
way to talk. We are not like the Santa Fe. We
are taxpayers, and we can say TO Governor
Budd, awe are your own people, living here in
California, our interests all lie here, and the
Valley road company is distinctively Califor-
mia company" For that reason We are enti-
tied TO different treatment from number OF
Spectators.
1 think that the public and all public officials
ought to recognize this is an enterprise started
for the relief OF California. This is only the
beginning OF q movement that Will grow, and
it is intended as an object lesson to show TO the
people of California what Californians can ac-
complish by cooperation. 1t Will show what
can be done in building up the State by united
effort, and that We can establish and operate
factories, industries OF all kinds by coming to-
gether with determination 10 stand by one
another.
insists on provisions in the lease so onerous
that New York Spectator would not touch
1t? Does he, as a sensible man OF affairs, think
that .we-that is, the directors who are well
known in this community-are in the Valley
road purely for speculation, or that we expect
to make money out of it? Not much; he
knows only too well that there is no return for
the money and the time we are giving the en-
terprise. Mayor Sutro OWLS more land in this
City than any other man, but he has not gwen
a dollar to the Valley road, which is intended
to help such men as he more than any one
else. In benefting the State and City, real
estate values will be improved and he will
come in for the greatest share of the benefits
accruing from the work we have only begun.
But he would not give even as much as $4,000
TO show his interest in the State or the City,
and his evident good will or moral support OF
the peoples railway. Talk is cheap, and he
likes to talk about China Basin.
We intend to build the Valley line first from
Stockton to Bakersfield with our money, and
when that part of the work is finished the
great San Joaquin viii feel the benefit of
cheaper transportation Tor its products TO tide
water. Then we Will have to bond the road to
build into San Francisco, which we could not
possibly do if we accepted this lease.
We desire to act all through in good faith
with the public, and alsoin the matter of bond
ing the road in its relation to its effect on the
lease OF the China Basin.