The San Francisco call., 1899-06-22
The Magnate Dislikes
CalifOrnians.
AND DISPLAYS PETTY GRUDGE
HE ATTEMPTS TO SQUEEZE THE
OLYMPIC CLUB.
de Is the Only Bondholder Who Re
fuses to Remit the Interest on
His Investment for a
Short Time.

c. p. Huntington has given another
striking exhibition of his extreme par
simony and utter lack OF public spirit.
For the sake Of a niggardly income Of
$3.50 year for five years he has earned
the contempt Of the Olympic Club and
its well wishers. Fortunately the rail-
road magnate has done no harm to the
splendid organization, which IS now the
oldest athletic club in the world and
one Of the most famous. That no harm
was done is, however, no credit to Mr..
Huntington. He did the club all the in
jury in his power and deliberately aC-
cepted the proposition that it might go
out Of existence before he would con-
sent TO sacrifice his paltry interest on
Olympic Club bonds. This is another
example of his treatment of men and
institutions, which explains the opinion
of Californians in reference to him.
He now occupies the unenviable posi-
ton Of being the only Olympic Club
bondhOlder who stood in defiance of the
measure intended to save the club. All
of the other bondholders, large and
small, some holding nine times as many
bonds as Huntington and others nine
times less, agreed gladly to do as they
that in 1892 the Olympic Club issued
bonds to the value of 1925 900. the bonds
bearing interest at per cent. The club
found Itself able to pay interest upon
its obligation up to June, 1898.
Then the interest fell into arrears and
the club now owes It's bondholders
about $4,000. Affairs were not the
brightest under these conditions, and
an agreement was made that If two
thirds of the bondhoders were willing
the interest would be RENTED for five
years, beginning with June 1898. A pc
titiOn was circulated and the bondhold-
ers We're asked TO sign it. Mrs. Stan
ford not only agreed to sacrifice the
interest which was due to her and will
accrue, but ordered all her bonds can
celed, thus making the club a generous
gift Of $4,000.
John ". Mackay owns $4,000 in
Olympic Club bonds and did not know
the fact until he was asked to give up
the interest for five years. He readily
agreed to do So The following bond
holders, with the amounts representing
their holdings, have agreed to do the
same: James l. Flood, $4,000; II. NJ.
Newhall & Co, $4,000; A. w. Foster,
$4,000; T. Hopkins S5250: j. McDonough.
$4,000; George Crocker $5000 Firemans s
Fund Insurance Company, $4,000; d. O.
Mills, $4,000; W. OBJ Marlborough $4,000;
Anglo Californian Bank. $4,000; j. Ro-
senfeld & Son, $1,000; Russ family. $725O;
NJ II. de Young, $500.
All of these bondholders agreed to re-
nit the interest and then c. p. Hunt
ingtOu, who owns $4,000 in bonds, was
asked TO do the same He refused He
was told how necessary it is for the
club to receive the assistance which
was demanded, but Nh. Huntington
was Obdurate. The club could go out of
% hafACa ha DIV hi
miserable $3.50 year He declared that
he saw no reason why he should assist
any of the institutions in a community
where he is diSliked Besides it is
business transaction and business is
business. The club must satisfy it's OBJ
legation to Mr.. Huntington. No amount
Of pleading would prevail upon the old
man and the effort was given up in dis
gust.
notwithstanding HuntingtOn's mean
ness the Olympic Club will be saved
In very few days il is expected that
the necessary two-thirds of the bond
holders win have signed their names
and the interest viii be remitted. This
will mean a total saving of $50, 600 or
$1,000 a month-a tremendous item in
the expenses Of the club. The Fair
estate holds $45, 900 in the bonds of the
club, but both Herman Oelrichs and
Charles Fair have promised to remit
the interest as soon as the necessary
legal steps can be taken. The execu-
tors Of the c. F. Crocker estate, which
has 500 in bonds, have promised to
do the same and this assures more than
the necessary two-thirds. 1t should not
be forgotten that scores of small hold
ers have signed and deserve fully as
much credit for their action as the
heavier holders.
With the remission Of this enormous
sum in interest the Olympic Club VIII
begin new era Of prosperity which
every Well-wisher of athletics will be
glad TO see. And Mr.. Huntington prob
ably will invest his $3.50 so that it also
may earn interest
$50 cash will buy you q brand new