The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-01-08
Eighteen Thousand Shares Are
Taken by the North
Pacific.
THE SELIGMANS ARE WILLING,
ALI the Local Stockholders Anxious
for a Combination and
Better Rates.

/
| Francisco and North Pacific road gained
possession of the road there has been talk
of a probable mbination. The stock
holders were in favor of such coalition of
interests, and those who had say in the
control of the narrow gauge were under
stood to be acquiescent in their feeling
But nothing came of the talk. Many of
the stockholders saw great advantage in
such a combination, but the powers that
be had control.
The stockholders of the narrow gauge
were of the same opinion, but everything
depended on the action of the controlling
interest of the other road.
Now it is possible for the North
Pacific Coast Company to force an ISSUE
and that issue is likely to be amicable
The company has gained possession OF
North Pacific Railway Companys stock
and that gives voice in the management
of the road.
The officers of both companies were in
clined to be reticent when questioned yes
terday afternoon. Those of the San
Francisco and North Pacific Company
particularly were destitute of any knowl-
edge of the subject.
Eyes, there has been talk, but that is
all, - was the first admission. Further IN
quiry, however, elected the information
that something was likely to result in the
way of a pooling of issues.
General Manager Whiting knew moth
ing, so he said, and referred the inquirer
to President Foster. 1t was the same with
Passenger Agent Ryan. He, like Mr.
! Whiting, looked as though he knew more
than he was at liberty to tell.
There has been that kind of talk" said
Mr.. Foster, ''but, for that matter, the COM
bination OF the two roads has been dis
cussed ever since 1898. Yes, | have heard
the talk recently, but 1 cannot give you
any definite information. There is posi-
! lively no truth in the story that l have
! sold any of my stock, and as to the Selig-
man interest l cannot say. OF my own
personal knowledge I could not say
/ whether they owned $4,000 or 1000 shares
interest us at all. They may or may not
own that stock.
GAS to the effect of combination of the
two roads must decline to give an opin-
ion. 1t might be advisable or il might
not. do not care to place myself on
record on that proposition. Yes, l will
admit that something is likely to come of
this talk, though, as [ said, [ do not know
anything about any transfer OF stock. /
have not sold any of my stock and | have
no intention of so doing. II is too early
for positive information.
President Stetson of the North Pacific
! Coast said: There has been talk of a
com bine, know, but as to the result or
outcome | know not. This company has
bought $4,000 shares of the San Francisco
and North Pacific Company's stock and
that gives Us some considerable say-so in
the company. These $4,000 shares repre-
sent several thousand dollars. They are
at present said to be worth $50 a share At
that valuation the stock purchased would
amount to about 100000 The purchasers
of that stock are Alfred Borel & Co., De
Guigne, representing the Parrott estate,
Mr.. 7. Coleman, Scottish-American In
vestment Company, representing Edin-
burgh capitalists, and myself"
"It may naturally be Inferred" con-
tinued Mr.. Stetson," that the most
natural outcome of our purchase of the
stock would be combine. Furthermore I
can say nothing"
Ever since Judge A. P. Overton, An
drew Markham and I. G. Wickersham
bought up lot of stock OF the San Fran
cisco and North Pacific Railway Company
there has been talk of a possible combine
All of these men are capitalists and have
extensive landed interests in Marin
! Sonoma and Mendocino counties.
| Judge A. P Overton is the president of
the Savings Bank of Santa Rosa, and
owns considerable land in the three
| counties named. Much of it is along the
line of the San Francisco and North Pa
cific Railroad. He was close friend of
Peter Donahue, the builder of the road
:. and rendered many favors to his son, the
late Colonel Donahue. In fact, Judge
! Overton was one of Colonel Donahue' s
warmest friends and advisers He had
much to do with the deceased railway
magnate about the extension of the road
to Ukiah. The Judge was also instru-
mental in getting Andrew Markham and
Hollis Hitchcock, who died here last Fri
day, in taking up large block of the
| stock.
and mills lying midway between the broad
and narrow gauge roads in Sonoma
! County, and an interest in the road meant
much to him.
Hollis Hitchcock, lately deceased was
an extensive landowner in the western
/ part of Sonoma County, along the line of
| the narrow gauge, and was also a stock
and Wickersham are connected. He, too,
! was in favor of combination of the two
roads.
| l. G. Wickersham, the other local stock
| holder. is at the head OF the National Bank
of Petaluma. Though Petaluma has the
/ advantage of water competit;on the San
Francisco and North Pacific does a good
business at that point, but Mr.. Wicker
! sham is in accord with the views of the
other local stockho!ders-tha a com bina-
ton will result in an increased profit to the
| two roads.
The North Pacific Coast road is an active
competitor for freight transportation with
the San Francisco and North Pacific in the
western part of Sonoma and Marin conn
! ties. Shippers in the hrst-me ntioned
county, between Santa Rosa and the
coast, can take their choice of the two
roads, or haul to Petaluma by team and
ship by water. 1t is obvious, therefore,
| nf = a 40
advantageous to the stockholders, if not so
to the shipping patrons of the road.
1t is also understood that the ombining
of the roads, if consummated, will result
in their being joined somewhere between
the terminus of the narrow-gauge at GAIA
dero and Healdsburg or Cloverdale on the
oadgauge
at must be apparent" said President
Stetson, that the purchase of these Is, 600
shares of stock by the North Pacific is not
merely an idle financial fantasy. Of course
there must be something behind it,"