The San Francisco call., 1897-04-15
RAILROAD
INTO THE
S|ERRAS
Tracks Already Laid in
the Mother Lode
Country.
WILL BE A HUNTINGTON
FEEDER.
Bonds to the Amount of Over
Three Millions to Be
Issued.
STAGING INTO THE YOSEMITE
TO BE REDUCED.
Benefit TO a Great Mining Section
Oakdale and Coulterville the
Termini.
STAGING INTO THE YOSEMITE
TO BE REDUCED.
Benefit TO a Great Mining Section
0akdale and Coulterville the
Termini.

Construction work on a new railroad in
the mother lode" counties of the Sisrras
has actually begun, and within the next
few months a standard-gauge railroad 124
miles long will be in opera ton from Oak
dale, Stanislaus County, to Coulterville,
Mariposa County.
Some time ago w. Bullock conceived
the project of constructing an electric line
as feeder to the Valley road. The road
was 20 be known as the Sierra Pacific and
was to run into the heart of the mining
sections of Calaveras, Amador and Tuol-
umne counties from Stockton. Rights of
way were secured and other prelimin aries
were arranged, but Tor some reason the
enterprise was not matured.
Meanwhile Others, including Prince
Ponietowski, bscame interested in the
idea of opening direct rail communica-
tion into this district, and the result was
that Bullock transferred his rights of W ay
and other privileges to the new parties,
who incorporated and organized under
the title of the Sierra Railroad Company
OF California.
Without flourish of trumpets those back
OF the new company began work about
ten days ago, and Today two miles of
track lave been laid and more than fl We
miles OF the new road have been graded.
The construction work is in charge of the
Ericsson Bros, who have instructions TO
push 1t with the utmost rapidity.
The proposed line will pass through
jamestown, Angels and probably Sonora
AT the latter point there are some differ
ences over right of way. and should these
not be arranged to the satisfaction of the
projectors the line will be pullt around
the town. For most of the remaining por-
ton OF the road the right of way is virtu-
ally secured. AT no point will there be
more than 2 per cent grade. and this
will be Tor short distance only.
Two great objects it is claimed will be
accomplished by the building of this road
1t will give ready and direct access to the
mining country, which has hitherto been
reached only by clrcuitous and incon-
venlent route, and will, among other i'm
portant things permit of timber being
brought into The mining camps at a COM
paratiVely low cost.
Sidney d. Freshman of New York is the
president OF the company and John NJ.
Bonner is secretary. There is 10 be a
meeting of the stockholders shortly, when
the present board OF directors and officers
Will be replaced by an entirely new body
of men, from the president down.
An important step in come ction with
the enterprise was the recording yester-
day by Jesse w. LiIienthal, the attorney
v.
as security for So, 720 600 worth of bonds to
be issued by the company to raise funds
foi the prosecution of the work. The issue
OF bonds was authorized by the directors
at meeting held on the 10th of April
1t will also reduce the staging into the
Yosemite Valley 10 one-third of what it is
to-day, even by the most favorable route.
Although it is claimed that the new
corporation Is entirely independent of the
Southern Pacific, it is admitted that il
Will serve as feeder to that system, con-
meeting with the east side branch of that
company, as already stated, at Oakdale.
1t Is understood that when the Sierra
Railroad is in operation all the Yosemite
tourist travel will be diverted from the
present Southern Pacific route, via Ray
mond and Wawona, to the new line via
oakdaie, as most OF the lon stage ride,
now part of the trip will be avoided,
One issue of the bonds is to be for
$l,S6O,O GOO, payable in gold, to run for forty
years, 10 bear per cent and for the pay
ment OF which sinking fund is to be
provided. These are secured by a first
mortgage on all the property, rights and
privileges OF the com pany now owned by
IL, or which may come into its possession.
The other issue is for the same amount.
also bearing the same rate of interest and
to run Tor the same period of time, and
are to be known as income bonds, that is.
the interest Is to be paid from the income
OF the road, but must not exceed per
cent. This is secured by second mort
gage, covering the same property. that is
specified in The first mortgage. The bonds
are already printed, and 1t is understood
that they are virtually already disposed
OF. Including both mortgages, the line
will be bonded for about $4,000 a mile.
The Ang lo-California Bank is to be The
depository OF the sinking fund.