The San Francisco call., 1896-06-17
WILL FINISH THE
VALLEY ROAD,
An Issue of $6,ooo,ooo Bonds
Authorized by the
Trustees.
FOR THE STOCKHOLDERS
San Francisco Soon To Be
United With the Great
Valley.
BRIGHT PROSPECTS ASSURED.
The Peoples Competing Railway Will
Now Be- Rushed to a Speedy
Completion.
BRIGHT PROSPECTS ASSURED.

1t is but a matter of very short time now
before the San Francisco and San Joaquin
Valley Railway will be literally what its
name representS-a railway uniting the
metropolis of the Pacific Coast with the
great interior valley of the San Joaquin.
No time is to be wasted in the accomplish
ment of this project, for the men in whose
care the important enterprise has been
placed have determined to finish the Val
ley road on the lines originally accepted.
The peoples railroad will have it's termi-
nus in San Francisco and extend through
some of the most productive regions of the
State, with feeders tapping the country at
various places all along the line.
There was meeting at the railroad 8
Office in this City of the stockholders yes
terday, and then all this was decided upon.
At the meeting the directors of the Val
ley road were authorized to make an issue
OF bonds for $6,000,OOO with which to COM
plete the railway.
Every share of stock was represented as
the trustees and directors were present.
A. B. Spreckels, Daniel Meyer, James D.
Phelan, Lowell White, o. D. Baldwin.
James Cross, Thomas Brown, f. w. Van
Sicklen and Christian de Guigne, trus-
tees, each and every one took part in the
deliberations in conjunction with Claus
Spreckels (by proxy, Robert Watt, Cap
tain A. H. Payson, w. F. Whittier,
Charles Holbrook J. D. Spreckels (by
proxy, J. B. Stetson, Leon Sloss, Thomas
Magee, Isaac Upham and Alvinza Hay
ward of the board of directors, who were
there as stockholders representing fifty
shares of stock.
After the meeting adjourned Captain
Payson stated that the issue of bonds for
100000 was authorized for the special
purpose of completing the railway
"Huw much is to be completed?"
'All that the company now has or may
acquire" was the diplomatic reply.
1.-THE matter of placing.of bonds has all
been left for the future. No time has been
set for issuing them
Chief Engineer Storey explained what
the com pletion of the Valley road meant
that is, as the line is now projected, with
small branches.
with the Sc, 100000 we expect to COM
plete the line. he SAID, 'all the way from
Bakersfield to San Francisco. That is, we
can build from Stockton to this City, and
also continue the road from Fresno to
bakersfield, and fully equip the road"
"How do YOU propose or expect to come
into San Francisco2"
"That is matter that has not yet been
decided, SO I cannot tell you.'
Twill there be a branch through the
Santa Clara Valley?'
The chief engineer replied that no route
had been selected adding that the road
would be continued from Stockton to San
Francisco 1.-The route has been exam
ined, but as no action has been taken re-
garding the cnoice how can anything be
stated definitely about Pr he asked.
The stock of the Valley road subscribed
by public-spirited men is s., 100000 OF
this amount fully 20 per centum is paid
up and with the 20 per centum there is
ample money to build to Fresno and
equip the road with locomotives and other
rolling stock, etc., besides providing for
surveys to Bakersfield.
"a mile and a half of track was built
yesterday" continued Mr.. Storey. "Still
we are going along slowly on account OF
rights-of-way suits down the valley. The
last suit in Merced County was wound Up
yesterday, and that practically gives us a
right of way through Merced County, in
fact to Fresno, with the exception of one
mile in MADEIRA County, which comes up
for trial next week. The track is laid five
miles below Merced, and the grading COM
pleted to the San Joaquin River, about
twelve miles from Fresno, excepting across
few rights-ofwav gaps on the route.''