The herald., 1898-06-04

as soon as his train arrives. For example,
if he stopped at a point west of Chicago.
he would lose his reduced rate and would
be paying the full fare to Chicago in order
to reach the nearer place.
Increased Freight Rates
The new tariff on westbound freight will
go into effect on the 25th of this month.
This is the tariff which is supposed to help
the Pacific coast jobbers, as it will vast
ly increase the rates on all westbolind
goods that come into the territory that
ought to be supplied by Los Angeles and
San Francisco firms. The increase is from
% to 100 per cent on most ofsthe classifica-
tions.
Valley Road Traffic
The Valley railway commenced regular
passenger traffic on Wednesday,. There
is one passenger train each way daily. one
leaving Bakersfield for Stockton at 10:15
a. M, arriving at Fresno at 2: 10 and at
Stockton at 1920 a. M, Fresno at 1910, arriv-
ing at Bakersfield at 2:45 p. m. The fare
from Bakersfield to San Francisco is $3.50,
the same as is charged by the Southern
Pacific. A new rapid steamer has been
put on at Stockton. which will make the
trip to San Francisco in five hours, which
makes the time between Bakersfield and
San Francisco twelve hours and twenty
five minutes.
Vice Presiden. Watts of the line reports
the entire system as in good condition and
passenger business as good as was antici-
pated. The freight traffic promises to be
very small. on account of the lightness of
the crops, but, as Mr.. Watts said, the road
was not built for this years business.
Electric Railway Gossip
From San Francisco comes the story
that some of the bondholders of the Los
Angeles Railway company, which means
the Electric Railway company of this city,
are trying to manipulate the bond market
so that they can secure the majority hold
ing at a nominal price, and thus get into
the ownership of very valuable securities
at a song. for it is thought that the line
can and will soon be made dividend-paying
as the business is excellent and the pre-
ferred claims, which have heretofore stood
in the way of dividend, are being rapid
ly reduced. 1t is reported that the Pacific
Savings bank of San Francisco, which
failed some few years ago, and among
whose assets is a number of these bonds
aggregating several hundreds of thousands
of dollars, has been offered so cents on the
dollar for them, but the depositors' COM
mittee refused to accept this, and the same
parties then offered 65 cents. and this is
now under consideration, with the prob
ability of being likewise declined. The
great desire of the profferers to get the
know that they will soon be of considerable
value. and SO holders have become very
cautious. Very few of these securities are
held in this city. they having been divided
among financiers of San Francisco, Chica- =
go and New York.
General Manager Fred w. Wood of the
company yesterday said when asked
about the proposed deal, that. he knew alb
solutely nothing about it. The operating
department had nothing to do with sue h
matters. and would not be informed about
it if any such plan existed.
Cut Rates Via Ogden
Late yesterday afternoon the Union Pa
cifc announced that it would join in the
cut rates movement to Missouri river, Chi
cago, New Yorli and all eastern points
This includes the Chicago & Northwestern
railway.
This means that the Southern Pacific
company has come to terms with its con-
nections at Ogden and will accept cut rate
tickets over the Central Pacific. 1t has
been at odds with these lines ever since the
slashing commenced, declining to give them
the mileage percentage they demanded, as
it made more money by diverting traffic
over either its Shasta or Sunset routes.
Notes of Track and Tie
The Southern Pacific has armed its
watchman at the piece of track it recently
laid at night, in spite Of the city trustees of
Riverside. with John Doe warrants to
serve on the first man who tries to pull up
the rails.
The freighting business at Mojave has
fallen away to almost nothing since the
of the Randsburg railway.
1t is said that the eastern nabobs who
are interested in the Randsburg railway
will be out here in few weeks to look
over the property and to make some fur
ther business dealings with the Santa Fe
in regard to it.
The Colegrove and Santa Monica electric
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