The San Francisco call., 1897-09-19
A NEW DEPARTURE IN CONNER
CIAL ENTERPRISE.
The Large Investment Will Stimulate Con-
fidence---Real Estate and Mercan-
tile Estimates of the
Event.

The talk of the town yesterday was the
news, published exclusively in THE CALL,
that syndicate of San Francisco citizens
had taken the bond issue OF Sc 000 900 for
the extension OF the Valley road to Bakers
field and the construction of the line from
this city to Stockton.
The intelligence was happily received.
The sentiment was expressed that the
city in this forward movement had lndi-
Gated plainly to the people of the Pacific
Coast that San Francisco was readily &C.
cepting the obligations devolving upon a
metropolis; that her capitalists realized
what was expected of them in measures
advanced for the development of the coun-
try. Many leading men expressed delight
that the bonds were taken at home, in
stead OF being sent for negotiation to
agents IN New York, Boston and Frank
fort. The fact was recalled that money
for the extension of railroads throughout
the West, shortly alter the close of the
war. was supplied In large sums through
the efforts of leading men of Chicago and
Boston. Great commercial benefits were
gained to Chicago by the extension of rail-
road lines IN Minnesota, Missouri, Iowa.
Kansas ana Nebraska. The commercial
advantage then secured to the merchants
of Chicago has been maintained ever
since
Mention was made of the fact that San
Francisc co had received many com plimen Is
for maintaining, at the expense OF her tax
payers and public-spirited citiz ns q noble
park, free to all the people of the State and
country; that she had sustained high
grade schools, an institute of art and pub
lie Libraries, which are as free to the people
of the interior as 10 the dwellers in the
city. These were cited as examples of
metropolitan enterprise. 1t was pre- dicted
that The announcement OF the taking of
the bonds by a local syndicate, when her.
aided abroad would place San Francisco
several degrees higher in the estimate
which the country makes of leading cities.
There was no noise or display in the
taking of the bonds The men bers of the
syndicate talked over the subject in busi-
ness manner, and realizing that il the in
vastment was good for the bondholders
in the East, it was equally good for in
vestors at home, having the money to
Invest in good securities, they subscribed
fer the bonds of the San Francisco and
San Joaquin Valley Railroad.
Progressive merchants and professional
men whose confidence in the future was
in no wise weakened by the long period
of industrial depression said there was no
longer any donbt about the arrival Of the
advance agent of prosperity and the i'm
mediate coming of the main procession.
The Investment made by the Bank of
California, Nevada Bank, |. w. Heliman,
John ID. Spreckels, A Borel & Co., Abby
NJ. Parrott aud Balfour, Guthrie & Co.,
would encourage others to invest in enter
prises projected for the development of
The resources of the coast.
Wendell Easton, man prominent in
real estate circles, the magnitude of whose
business interests is such as to keep him
well informed on every hing that tends to
their advancement, was especially gratitied
to learn Of the welcome news. Mr.. Easton's
remarks may be taken as typical of the
sentiment generally prevailing in real
estate circles He said:
II read the news with great pleasure in
this mornings CALL. l think this st p
taken by San Francisco capitalists indi-
Gates that we are i'll the line of progress.
Investment in California enterprises we
must help that feeling along by making
few ourselves. This will go a long way 10
secure the confidence of nonresident
owners Of California property.
"To make myself emphatic l might say
that L regard this as one of the most i'm
portant events that have happened here
for long, long time. | was always of
the opinion that bonds offered by the
United States Government banded by
syndicate, were run on wrong principle.
They should have been offered TO the peo-
pie throughout the country at par, instead
of being sold at a discount in order to
permit some syndicate to make an i'm.
mense profit.
I'm addition TO the effect this event will