The herald., 1896-04-04
ALONG THE RAILROAD lines
THE VALLEY ROAD MANAGERS c0NcLuDo
TO ISSUE BONDS &
draSing csatraets Let Between MsresG ~.
Prssne : Intesstats commsrcs Of1IeGaio
Turn Their Attention to shippers wv
Violate the Law to Save Meaey

San FiANcIsco. April 3.-Ths affairs g
the San Francisco and San Joaquin Valley
railroad have progreseed to such an extent
that more money il now needed 70 cofnp
important conference will be held by to
directors OF the road and the trustees. ThiD
conferences will probably be held usxD
Tuesday.
President Spreckles, Vice Presldsn5
Watt and the other directors have thorough
ly discussed the best means Of RAISING
more money. The question Of calling for
moro cash stock subscriptions has boo9
carefully investigated, The proposition e
bonding the entire road from Stockton ~
Hakersfleld. distance Of 265 miles, au1
selling the bonds in the East. in Europe -
in San Francisco has also been consideroils
The directors finally decided to issue bcGldo
bearing either 4 a or 8 per cent Interest,",
IL 10 thought most of them may bo ooDd;
hero. The directors do not wish to chaps
the future financial policy Of the road,
however. without the sanction Of the stock
trustees. Hence the conference propooo1
for next week.
The directors today let $4,000 worth q
grading contracts between the Mereod
river and Fresno. J. D. McDoueal q
Stockton got the contract for grading ~
twelve miles from the MERGED river sou1h
to the town OF Nereed. Grant bretheko
got the grading contract for . distAncaoG
twenty-six miles, beginning 1t point dr.
teen miles south OF the town of Morco1>
The rights of way for the first sixteso
miles south OF Merced and for the nrss:
been adjusted. The directors say the
Crocker family has treated them vssyk
fairly in giving rights of way through ~
Cr0cker. Hoffman ranch for distance ~
three or four miles. ~
the capital stock is being promptly paid IN
by tho subscribers. Chief Engineer Story
thinks the road will reach Fresno by ~
gust 20.
AFTER THE SHIPPERS
CHICAGO. April 3.-The interstate COM
planning to make trouble for some Of tho
large shippers who have been receiving cue
rates from the roads. No actual 0topoa
have been taken rs yet, but IL 10 said that
the officers of the law will be after the
large grain and packing house shippsss.
This will be the first time that an effort
has been made to get after the shippers for
taking as low rate a. they have been able
to procure from the roads. 1t is fact that
in the majority of cases, however, which
the interstate commerce commission has
taken up in this city that the shippers have
been the chief offenders as In most CASES
the railroad man is not going to offer to -.
duce rates unless he is assured that ho
must do 90 in order to get the business.
The officials of the commission say that il
many Oh t0o cases Wn0H roQuCe0 RAVES
have been made in favor of certain ship.
pers 1t has been practically game OF stand
snd-dellver On the part of shippers and the
roads have been compelled, in . large
measure, to take the business for just what
they could get for it. This has been tn
case every year out of Chicago, just bsfore
the opening of navigation. The railroad
officials are. of course, equally guilty with
the shippers, but the commission has dc.
voted all of it's time of late years to the
railroad men, and it is now proposed to so6
if they cannot, under the Brown decision
bring in some of the shippers with theii
draRnet.
At the annual meeting of the Chicago
Railroad association today G. A. Higgins,
assistant general passenger agent Of the
Atchison was elected president and A. e.
Mcmillan of the Michigan Central was for
the ninth consecutive year elected secrs-
tary. The meeting decided to comply with
the requests of the interstate commerce
commission with regard to numbering the
tariff sheets in such q way as to make any
road party thereto responsible for any cuts
ting of ratea