The herald., 1898-03-04

play In obtruding them upon U.S.
The Barber Asphalt company, which is
the most powerful paving organization In
the east, controlling. as 1t has for many
years the entire Trinidad asphalt product,
has been able for a long time to dictate the
terms upon which asphalt paving might be
done and has exercised similar control
over inferior contractors to that welded
by the Standard Oil company over the
smaller fry In Its line.
II Ia reported that the Barber Asphalt
company has lately made sale of its
entire interests in the Trinidad island TO
an English syndicate which intends TO
ship the celebrated pitch lake deposits,
which are In reality superior quality of
asphalt, to Europe for use In carrying out
big paving contracts In some OF the lead
Ing capitals and principal cities of Europe.
The Barber Asphalt company retains cer-
tain rights In regard to supply Of the ma
terial for its own uses during specified
time, so that its operations will not be
hampered. But the motive prompting this
big concern to the disposing of Its Trinidad
rights is explained when 1t Is known that
II has secured ample territory In Southern
California. 1t has now under bond a large
quantity of lands containing asphaltic de-
posits located in Santa Barbara county.
These deposits are contiguous to those
owned and worked by the Alcatraz Asphalt
company, which is doing a large amount
of public work in this city besides making
a name for an important Southern Cali
fornfa product In eastern markets.
The Barber asphalt people, with thcir
usual foresight. made a quiet investigation
of the asphalt resources of this section,
which the Alcatraz people had brought INTO
prominence, and found that the field cou'd
be worked to advantage, upon wnich they
determined to take hold of It, The result
will be big impetus to this Industry OF
Southern California. The question Dr
transportation which rs always serious
one to the producer, Is satisfactorily met
In this instance by the refining process De-
Ing conducted at works established on the
ground The material shipped Is thus
highly refined product which can afford the
high freight. On arrival at its destination
the proper admixture of sand can be made.
The specifications of all eastern cities now
call for natural asphalt. which Will create
large demand for this material, to the
exclusion Of all other kinds.
Mr.. Charles f. knight has qualified as
bank examiner for California and adjacent
states at Washington, and will soon return
to San Francisco to take UP his new work.
Hon. John Marlkley has been appointed
term expired. Mr.. Markley will assume
office Immediately. The terms of the two
other commissioners will expire in May
and July. respectively. and 1t Is presumed
the governor has picked out the men to be
appointed in due time.
O o .
A report on the transsiberian railroad
in an English journal says: ION the ST.
berian line 5000 miles of steel rails have
been laid already at a cost of $50 900 900 ru-
bles. July I. 1904. it is thought, will see
locomotives running from the shores of
the North to those of the Japan sea. With
In eighteen months trains are to run over
the Siberian road to the Amoor river
Thence by fast 1/e@amer, passengers post
parcels and freight are to be pushed on to
Chaborowka thence in eighteen hours,
over the south Russian section of the 81
berian road to VladivOstock, making the
distance from London to the most i'm
portant harbor of the Japan sea seventeen
and ene-half days. 1t is estimated that
when the road is in working order. after
the first few years, and high rates of speed
across Siberia are attained. the entire trip
will be made in nine days and two hours"
The shipments of raw cotton from
southern states to China and Japan by way
of Puget sound ports during 1869 are
given by Mr.. James ]. Hill, president of
the Great Northern railway. as follows:
From Missouri, POS .662 pounds; from Mis-
sssippi, 337 046 pounds; from Texas. 3d.
1905 pounds; from Alabama, 315,327
from New York, 295,s30 pounds Total,
34,6i1.S7S pounds. OF cotton sheetings the
following amounts were shipped: From
North Carolina, 25l7 ,so7 pounds; from yir-
40 $50 pounds; from Alabama. 1856 ,S72 pounds;
from South Carolina, 15,7O7.6 SOB pounds;
from Georgia, 1,S04.707 pounds: from On
tario,, SS,l25 pounds. Total, 2o,654,S54
pounds.
The supreme court. in decision rendered
oath ult., upon the mechanics lien law,
says that notice of lien which is filed
for record must be complete in itself at
that time, in order to authorize it's en-
forcement. and that it is not capable of
being amended or reformed.
The same court also decided that mort
gagor may sell and convey all his right
and interest in the mortgaged premises
to the mortgage, where the transaction
is fair, honest and without fraud and
where no uncOnsciOnable advantage has
been taken of his position by the mortga-
gee. Such transaction is complete and
operative and irrevOcable from the de-
livery of the contract and deed to the
depository, and Is effectual to vest the
legal title in the grantee upon the condition
of the contract being fulfilled.
In an action for foreclosure of mortgage
the supreme court further declared that
Section 299. c. c., does not apply to an |
action for the foreclosure of a mortgage
Penalties are neyar favored by courts of
law or equity, and statutes imposing PEN
alties or creating forfeiture must be strict
ly construed Every intendment and pre-
sumption Is against the person seeking to
enforce the penalty or forfeiture provided
by such a statute.
While a mortgage of real property is
in form a conveyance, and is treated as
such for certain purposes, 1t Is not in fact
conveyance. 1t passes no estate in the
land, but is merely a security, and default
in the payment of the money secured does
not change its character. 1t creates only
a lien on the land, which Is an incident of
the secured debt and passes by a simple
assignment of the debt.
An action to foreclose a mortgage is
simply and only an action for the collec-
tion of debt and the enforcement of a
lien for it's payment.
Interpretations
The Golden Jubilee Mining and Milling
company, Napa; 100000, with $4,000 SUBJ
scribed.
The Seven Sisters Gold Mining company,
Kennet, Shasta county; $500 900, with $780,
900 subscribed
The Schmid & Parker Packing company,
EaNTl u, onf nnn