The San Francisco call., 1896-04-25
Traffic Manager Moss Has Made
a Thorough Inspection of
the Line.
BOxcARs RUN LIKE COACHES.
When Merced Is Reached the Road
Will Be Able to Handle All the
Business Offered.

In six weeks from date, barring acci-
dents or other untoward circumstances,
the Valley road will De prepared to carry
freight between Stockton and Merced,
though the carriage of passengers will in
all probability be deferred for some time
after that date.
Traffic Manager John Moss returned
from his tour of inspection of the COM
pleted portion of the road Thursday night
and found things in a most satisfactory
condition. He went from Stockton as far
as the Merced River, and was gone about
tour days, having left the City on Sunday
night. He travelled over the line in a
freightcar, as the road has not yet received
any of the passenger coaches which are to
comprise part of its equipment. Mr.. Moss
said that he was both gratifed and sur
prised TO find how smoothly the car ran.
Its motion, he added, was as smooth as
that of an ordinary passenger coach.
81 think can now say approximately
whe we shall be able to begin business
over our road" said Mr.. Moss, after con-
cluding his appreciative remarks on the
thorough manner in which the road had
been constructed.
''We are now at work on the bridge
across the Merced River. This will take
about three weeks to complete, and we
will then have about three miles and
half of track to Jay to the town of Merced
from the river. We calculate that all this
work will be finished in about six weeks
and the road placed in such condition as
to permit of the prompt and satisfactory
moving of all the traffic that will be offered.
We will thus be in ample time to move
the wheat crop from the lower valley
points.
"Our rolling stock is being continually
increased and our facilities SIX weeks from
now will enable us to go into the field feel
ing assured of being amply provided for
the work we shall. endeavor to perform.
''No rates will be announced until we
are fully prepared to begin hauling freight.
This is a matter that will require consid-
cradle care, for while our rates as first put
into effect will no doubt be changed with
the increase IN our mileage and the growth
OF our business, we yet desire TO make
them such that as few changes as possible
will be necessary, as stable rates are an
important factor to the farmer as well as
to the merchant, and in fact TO all who
ship goods"
This determination of the Valley road
tion about the first week in June will no
doubt prove gratifying surprise TO the
people along tie route between Stockton
and ,Merced, as it had previously been
stated that the road would not be in shape
for business before the latter part of July
or the first part of August. The change of
plan is due, however, to the unexpected
rapidity with which Chief Engineer
Storey has pushed the work of construc-
tion to the Merced. no less than two miles
of track being laid day for ten cen secu-
tive days during the period just before
reaching the Merced River.
This entire project, vast as it is, was al
most magical in its development Its
birth dates back but little more than
year, and was almost simultaneous with
the conception of the enterprise. The first
preliminary meeting for the construction
of road into the heart of the San Joaquin
Valley was held on January % 1895. The
original idea was to raise $3.50, 900 as fund
with which to start the construction of
the road, but Claus Spreckels, taking a
broad and liberal view of the situation,
changed the entire original plan OF those
who were instrumental in calling the
meeting by offering to subscribe $500 If
the fund to be raised was fixed at So, OGO,-
OO0. Z committee was appointed at this
meeting, with the result that it was decided
TO incorporate a company with a capital
stock of $4,000, ,000 with the understanding
that operations should be commenced as
soon as s., 600, 900 worth of stock had been
subscribed. A meeting to receive sub
scriptlons was arranged for, part of the
call Tor the assem- blage reading as follows:
The proposition is to make it the peoples
road, owned by the people and operated in the
interests OF the people, and it is to you as a
part OF the people that we turn for assistance.
This meeting took place on January 90,
ay,d tha 10, L
subscribed. Claus Spreckels signing for
$500, 900. John d. Spreckels for 100000
and Adolph B. Spreckels for SI0O, 900.
Alvinza Hayward and w. F. Whittier
each put his name down for $50, ,0OO On
February the 100000 mark was
reached and passed.
On February 20 the first general meeting
of stockholders was held, those in attend
ance representing more than $1OO, ,0OO, ,O0O
At this time the subscriptions had reached
S2,248, 600. Incorporation was effected on
February 25, this honor having been rele-
gated to Claus Spreckels, w. F. Whittier,
Charles Holbrook, John T. DOYLE and
E. F. Preston. In the articles of incor-
poration provision was made for a road
estimated to be $50 miles long, extending
from San Francisco to or near Bakersfield.
Claus Spreckels was elected president,
W.. f. Whittier first vice. president and
Robert Watt second vice-president. On
March D, 1895, Alexander Mackie was
elected secretary, and on the day follow
ing w. b. Storey Jr. was elected chief en-
gineer. week later terminal facilities
were secured in this City at China Basin
through Legislative enactment, and on
March IL the first bids for material were
sent out. Since then there has been no
cessation In the work of construction.
Among the most important features of
the stock trust certificate and one which
bears on the question of rates, is the fol.
lowing provision:
Said corporation shall so operate said road
that the basis for freights and fares shall he
the lowest rates OF charge which viii yield
sufficient revenue to the company to pay for
the proper maintenance, operation and better
ment OF said road, together with proper pro
vision for the payment OF interest upon any
bonded indebtedness, if any there be, together
with the creation of sinking fund therefor,
as required by law: also for the crea tion of n
surplus fund for the use OF said road, and the
payment to the stockholders of sum not to
exceed per cent per year upon the capital
stock actually paid into said corporation.