The San Francisco call., 1899-01-09
ONE NAME
FOR ALL
IT'S LINES
Santa Fe Railroad Wants
to Work Under One
Corporate Name.

CALL HEADQUARTERS, SACRA-
MENTO, Jan. 8-One of the important
items of railroad legislation that will be
presented at this session is the bill which
will be introduced to enable the CONSOLE
dation of all of the Santa Fe lines in CAL
| ifornia with the Valley road under one
corporate name. The object of this con-
solidation is to enable the conduct of all
these Santa Fe lines with its recent pur-
chase, the Valley road, as one corpora
ton, thereby avoiding the expense of the
conduct of separate corporations, which
are required to be separately differed and
to have separate accOundngs under each
corporate name.
If the Santa Fe lines now operated un-
der four separate corporate names are
consolidated all of this trouble will be
avoided, and all that will be required will
be one set of officials and one set OF BOOKS
for the California lines
The title of the bill which it is pro-
posed to enact to effect this consolidation
is as follows
AN act amending the Civil Code of the
State of California. adding thereto three
new sections, authorizing the purchase
or lease by railroad corporations created
under the laws of this State, or other
States or Territories of the United States,
which are now or hereafter may be, doing,
business as common carriers in this state
of any or all of the property and fran
chises owned, situated, held or used
wholly or partially in this State by any
railroad company created under the laws
of this State, or of any other state or
Territory of the United States, which is
now, or hereafter may be, doing business
as a common carrier in this State, and
authorizing the sale or lease by any such
corporation as above mentioned or any
such property or franchises, or both,
which it may own, use or hold, wholly or
partially in this State.
The bill is in three sections, as follows:
Section /. A section - hereby added
fp t1a CiIyiI Code of the State of California,
numbered 494. follows:
Any railroad company created under the
laws of this State or under the laws Of
any other State or Territory, under the
laws of the United States, which is now,
business of a common carrier, wholly or
partially within the limits of the State Of
thority to purchase lease of any other
railroad corporation doing business in this
State a common carrier any part or
portion. or all, Of the property OF any
kind or description, including franchises
owned by such other railroad company.
which is or are being used, owned held
wholly or partially within the limits OF tsA
See 2 A new section is hereby added
TO the Civil Code of the State of Califor-
MIA numbered 4s5. Any railroad corpora
ton created under the laws of this State.
or of any other State or Territory, or of
the United States, which is now or may
common carrier in this State may as to
any of its property of any kind rights
franchises which are situated, used held
wholly or partially within the limits of the
State of California sell or lease the same,
or any part thereof, to any other railroad
corporation authorized to purchase the
same by the provisions of this act
Sec 8. a section is hereby added TO
the Civil Code of the State of California,
numbered 496. Before the sale lease of
any property or franchise owned by any
railroad corporation and held or used or
operated wholly or partially within the
limits of the State of California, pro-
vded herein, shall become operative, an
containing the terms and conditions of the
sale or lease, which must be authorized by
the board of directors and ratified by
three fourths of the stockholders of such
According to the terms of the act it is
to take effect Immediately upon it's pass
age. So far as known at this juncture
there will be no opposition offered to the
passage of this bill. A G. Maginnis is
there as the representative of the Santa
Fe Company to present the matter to the
LEGISLATURE. In speaking Of the bill this
evening Mr.. Maginnis said:
There is absolutely nothing in the
measure beyond what appears on the sur
face We desire to consolidate all the
lines we are now operating in California
or may operate hereafter, and that will
rorate name. This will cause great saw
ing in expense, and will greatly simplify
the system of accounts we are now COM
Delled to keep. I can see no reason why
there should be any opposition to the
measure from any source, and do not
anticipate any"