The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1901-11-09

T~ HE purchase by the Baltimore
syndicate of the entire system of
transportation lines of the Mar
II ket-street Railway Company for
the sum of $4,000 900 in actual cash
was discussed with extreme pleasure yes
terday in financial circles in this city
The story of the colossal transaction
as published in The Call. was read far
and wide and on all sides congratulations
were heard for the men who engineered
the big deal.
The acquisition of the Market street sys-
tenn by the Baltimore syndicate means
more to the residents of San Francisco
than appears on the surface. Not only
will this city have model street car sys-
TEN, but the benefits are unlimited that
will result from the present stockholders
receiving the sum of 26.OOO,OoO for rein
vestment With few exceptions, all the
stockholders of the Market street COM
pany reside in San Francisco. They are
to receive cash for their holdings and, as
a natural consequence, the many millions
of dollars must be invested in this city
and vicinity. The money will not be al
lowed to lie idle and certainly will not
be taken to the East or other points for
investment when SO many golden oppor-
tunities are but awaiting capital in this
city and State.
Another great benefit that arises from
the transfer of the street car system to
the Baltimore syndicate is the valuable
advertising San Francisco will receive in
all the financial centerS of the East and
Europe.
The field of investment in Transportation
lines of the Eastern and Middle West cit
les has been thoroughly utilized and East
ern capital will regard with interest the
colossal transaction or the Baltimore syn
dictate in San Francisco.
George R. Webb, who has represented
the firm of Alexander Brown G. Sons of
baltimore which, with it's many branches,
he syndicate left for the IA ST
yesterday morning. Two hours previous
to his departure Webb met H. E. Hunt
ington, 1. w. Hellman, r. G. Hanford
final papers of the transfer of the Mar
ket-street company's property were signed
and all were elated at the ending of the
huge deal.
Hanford's Power Is Recognized.
The ACQUISITION of the Market street sys-
more syndicate, and in 4. G. Hanford the
world of finance is likely to see the rise
of another Napoleon. Hanford first car
ried through the deal by which the San
Mateo line was purchased by the Balti-
more syndicate; then, In the face of great
difficulties he engineered the purchase by
the syndicate of the Suffer street line and
has successfully put through the transfer
of the Market street system and other
enormous financial transactions are being
carried on in similar lines.
AS soon as the Baltimore syndicate is in
actual control of the Market street sys-
tenn it will inaugurate many reforms. 1t
cannot be too strongly emphasized that
the syndicate, in coming to San Fran
cisco. does so for business purposes only
and will have nothing to do with politics.
1t will carefully look into the merits of
the local men who will be available for
executive positions and who know the
wants and desires of the people or this
CITY. Local men will alone be chosen, and
the names of Herrin, Lynch, Burke and