The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-03-23
MEASURES OF SECURITY.

In forming pool and investing the Di-
rectors with adequate authority the share
holders of the San Joaquin Valley Railroad
have shrewd eye to the danger of absorp-
ton which the presence of the Southern
Pacific Company creates. 1t is cheering
to note that the Directors themselves are
anxious for all possible restrictions to be
placed upon them, in order that it shall
be physical impossibility for them to be-
tray the trust reposed in them. The con-
trolling idea of the whole undertaking is
that this is to be peoples railroad, owned
by Californians and operated as much in
the interest of the State as in that of its
shareholders, and that hence it must for
ever be kept free from any danger from
the very monopoly whose policy has made
it necessary On this point there is per-
feet harmony. Even the evidence of decay
of the Southern Pacific Company's power
will not be permitted to cause relaxation
of watchfulness and care.
The situation is extraordinary in many
ways. Its most eloquent feature is the
general abiding fear of the old company's
grasping propensity, and the harm to the
State which its success in this case would
surely bring. Hence the proposition of
delegating extraordinary powers to the
Directors, which will probably be acted on
to-day. 1t is not only so to hedge them
about with all conceivable barriers against
any possible scheme by which they might
hand over the control of the valley
road to the Southern Pacific, but at the
same time to invest them with extraordi-
nary powers with regard to the selection of
the route, the construction of the road and
the installation and conduct of the service.
AT this writing the details of the plan are
not accessible to the press. From the
rumors which have been heard, however,
some such policy as that here suggested is
likely to be proposed, and if so it certainly
should be adopted.
The men composing the Board of Direc-
tors-Messrs. Claus Spreckels, Isaac Up
ham, w. F. Whittier, John D. Spreckels,
Charles Holbrook, John B. Stetson,
Thomas Magee, Leon Sloss, Robert Watt
and A. III. Payson-would never be sus-
pected of any desire to betray any trust
reposed in them; but it is generally char
acteristic of honest men that they never
object to precautions taken to prevent them
from being dishonest.
A friendly rivalry has arisen between
San Jose and Stockton as to which shall
secure the road. In this contest it might
be well for San Jose to bear in mind the
fact that the selection of the Stockton
route would include several other cities
and towns which are making eager bids
for the road, and that whatever the size of
Stockton's bid it will represent but a part
of the assistance which would be secured
by including that city in the route. Stock
ton is working very earnestly and an
nounces that it alone can raise half a
million dollars. Engineer Storey goes to
that city next week to inspect the ground
facilities which have been offered, and as
he is very competent man his recon-
mendation will have great weight with the
directors.
The valley road project is now, and for a
long time will remain, the most important
matter that affects the State. The attitude
which every person assumes toward it will
be the expression of his wishes concerning
the States advancement. Every man OF
means who invests in it's shares will estab-
lish the fact of his enterprise, sagacity and
patriotism, and every man having money
which he might thus use and refuses so
to employ, it will be known.