The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1898-09-20
FREED FROM
HER BONDS
California Will Now Have
Another Road Across
the Continent.

connected with the Valley, road The
five directors all hold positions of trust
in the San Francisco and San Joaquin
Railway, and their interest in the es-
tablishment of new transcontinental
line with a terminus at San Francisco
has been closely allied with the original
venture of the Valley road. The logical
deduction of the building of the Valley
road was that some day connections
would be made with Eastern lines.
When the Valley road was originally
contemplated a number of patriotic
citizens came forward and voluntarily
subscribed, thinking at the time that
it was a contribution. Time has proved
that the money that was advanced to
build the road through the San Joaquin
Valley was well placed from the stand
point Of investment. To protect these
original and patriotic subscribers the
officials of the Valley road lately ad-
vised the stockholders not to sell, for
certain events would soon occur that
would insure them the par value of
their stock. So 1t was arranged that
the Union Trust Company should hold
all shares at the option of the deposi-
tor to sell for par value at the end of
the year or to still continue to hold
them. The one thing that could make
the Valley road part Of great and
prosperous system was connections,
and now these are secured. The new
road will not pass through a fruitful
country and as an isolated line would
not be self-sustaining. 1t is through it's
terminal connections that it will be
1@4 fif,on q
Valley road a railway of great value.
With the new road over the pass from
Bakersfield to Los Angeles and the
Valley road from Bakersfield to San
Francisco the knell of death has been
sounded for railroad monopoly in Cali
fornia. Practically two tide-water ter
minals are assured the Valley and
Bakersfield and Los Angeles roads with
all their inestimable benefits. The re-
cent adjustment of Santa Fe compli-
cations when that road was transferred
at it's real valuation was a prognostica-
ton which the present shows in reaii-
zation. The Valley road with it's new
connections will be able to cut freights
at both ends. The situation after the
construction of the new line will not
be the same as 1t has been for many
years, ever since the Southern Pacific
Company of Kentucky ruled with rod
of iron. The spirit of competition will
be injected into that corporation and
the benefit to the people of California
cannot be easily ascertained SO great
will 1t be.
The purpose" section Of the articles
of incorporation besides reciting the
purpose of the formation of the COM
pany to build the road with all it's ac-
cessories-wharves, necessary steam
boat lines, ferryboats in connection
with the railroad, docks, landings, to
buy all real estate necessary and proper
for the exercise of it's powers, ETC., etc.
mentions the proposed building of a
telephone and telegraph line along the
route.
The tenth Section of the articles of
Incorporation shows that there was
actually subscribed before the filing
$1,000 for each mile of road intended to
be constructed or purchased by the cor
poration and that s100 has been SUBJ
scribed for every mile of telegraph or
telephone line. The articles also show
that 10 per cent of the amount sub
scribed has been paid to the treasurer
for the benefit of the corporation.
San Francisco is selected as the prin-
cipal place of business of the new cor
poration. To shippers, to farmers, to
grape growers this new road of 200
miles of rails will be as the shower of
mamma to the famished. The day for
EARNED and undisputed power has
now surrendered to the growing de-
mands of a people who will soon know
what enfranchisement means.