The San Francisco call., 1896-05-12
Proposal to Extend the Road
North to Meet the Suffer-
Street Cars.
OUT TO GOLDEN GATE PARK
Improved Machinery and Modern
Equipments to Be Pur-
chased.

The San Francisco and San Mateo cleo
trio car line, which was sold short time
since 10, Buck, Ohlandt and others, will
almost to a certainty revert into the hands
and under the control of its original owner,
sBehrend Joost. This much has been
ascertained by one who is in position TO
know that it is the intention of Mr.. Joost
to redeem the road inside of the next
three months.
Tie getting possession of the road with
its franchise and rolling stock is not a
question of bargain and sale, as might be
supposed; for the present owners are well
satisfied with the property they bought,
and intended to retain possession of it
and spend some thousands of dollars in
putting it in first-class condition. But the
law permits Mr.. Joost to redeem the road
at any time within one year by paying the
purchase price and the penalty of 10 per
cent per annum upon the amount of the
purchase money, which. in this case,
amounts to $4,000 on the $500, 900 paid.
This sum, capital and interest, Mr..
Joost is ready and willing 10 pay to the
receiver, who, under the law, must put
him in peaceable possession of the road at
any time the money is offered tol him
within twelve months from the date of the
The law makes a difference between the
redemption of real estate sold TO satisfy a
foreclosure of a mortgage upon Judgment
and sale of franchise by order of a
court.
In the case of a franchise. the time for
redemption is fixed at one year with the
penalty of 10 per cent per annum; where
as, in sale OF real estate under similar
conditions six months is the limit of re-
demption, with q penalty of per cent per
month.
Thus it viii be seen that no matter how
anxious the present owners may be TO re-
tain possession OF the property they must
deliver 1t up to Joost by his complying
with the law
Section 1872 of the Civil Code of this State
reads:
The corporation may at any time within one
year after such sale redeem the franchise bv
paying or rendering to the purchaser the sum
on but without any allowance for the toll
which he may in the meantime have re-
celyed; and upon such payment or tender the
franchise and all the rights and privileges
thereof revert and belong to the corporation
as If no such sale had Deen made.
The power of redemption given to Joost
as the corporate body holding the fran
chise is unauestionable, and as such he in
tends to make use of it by rendering the
money to Buck and Ohlandt within few
would be of very little value to any per-
son as a railroad speculation.
This law and its conditions were thor
oughly understood by the parties who
. bought the road at the receivers SALE but
they had no idea that it would be re-
deemed, and 1t was their intention to so
improve 1t as to make it a frst-class line
oy reconstructing it and placing new cars
and other modern Improvements in all of
its respective parts. But under the law
quoted they were constrained for prudence
ana economys sake to withhold the ex-
pendlture OF any money until the expira-
tion' OF the twelve months, when the road
with its franchise would become their abb
solute property.
By the sale of the road the original in
debtedness of 81, 100000 on the bonds for
material and labor, the two latter being
preferred claims, and all pending suits for
damages or for other cause, have all been
wiped completely out of existence.
The interest on the original bonds
amounted to about $175,O0O, for material
and labor. This would make the original
1ndebt edness of the road quite an amount
IN excess OF that for which Mr.. Joost can
now get his road back.
There is big difference between Sc, 3OO.-
OOc and $3.50, coo; so by the sale and re-
demption quite margin is left, which it
is the intention of its original builder to
apply for placing the road and rolling
stock in first-class condition.
New trucks will be purchased for the
cars and heavier rails put down, with
substantial ballast for the road bed, which.
1t is thought, will have the effect of stop
ping the unpleasant jumping motion so
noticeable on this line.
In addition TO this it is intended to ex-
tend the Guerrero line from Fourteen tn
street north to Market, crossing that
street and continuing north on Laguna to
Sutter, whence it is proposed to connect
by transfer system with all branches of
the latter. Thus the Sutter-street line
will be made center line from the Mis-
sion district direct to the Park and Cliff
House, as also to the county line.
Another branch will run down Fulton
street to the City Hall, and NAV be ex-
tended out west to Lyon street, taking a
turn into Grove and ending at Stanvan
street at the Golden Gate Park.
Other connections and extensions are
thought of about the eastern end. but
none OF those have assumed such shape
as would justify the proposed route being
described at present