The San Francisco call., 1906-09-23
EAsTERNERS SEEK
To BUY SPRING
VALLEY.
New York Syndicate With
Capital of $80,Ooo,OoO in
the Field for the Stock
NAY SOON SECURE
THE LOCAL SYSTEM
Banking Firm of Selignan
& Co. Said to Be Inter
ested in the Project

! Will the Spring Valley Water Com
pany share the same fate as the Uni
I ted Railroads and fall under the con-
! troll of an Eastern. corporation?
This question is agitating the rainds
OF those who have followed the fiuc-
tuations of this stock during the past
few days
The sudden rise in the stock of
! Spring Valley has been as the writ
ing on the wall that there is a de-
termined effort on the part of some
strong moneyed power to secure con-
troll of the water corporation That
this campaign is being waged success
fully is the statement of those who
claim to have accurate information on
the subject. and they further declare
that it is only matter of time when
the present management will be Gust
ed and the Spring Valley Water Conn
pany pass into the hands of an East
ern syndicate.
Spring Valley has been regarded in
New York as one of the best invest
ments that the State of California had
to offer. and it has been known to
those we'll acquainted with the finan-
cial men of New York that a corpora
tion with a capital of $4,000 900 has
been organized in the East for the ex-
press purpose of not only secur-
ing control of the Spring Valley sys-
tenn. but also of any other water sys-
TEN which may be selected by the peo-
pie of San Francisco
sELIGMANs INTERESTED.
A well known Californian, who has
made his home in New York for sew
eral years. was approached with
proposition to purchase all the Spring
Valley stock he could secure in order
TO aid the Eastern scheme He de-
clined on the ground that he would
be too much occupied with his own
interests to look after the interests
OF others.
II is foresone conclusion, accord
ing to those who claim to know, that
Spring Valley shortly will pass out
Of the hands of the present manage
ment into those Of Eastern financiers.
The stock is being purchased in the
interest of a big New York bank. and
the hint is given that the Arm of Selig-
man & Co is more interested
in securing the stock than any other
financial Institution in New York
This stock is not difficult to secure.
1t is asserted that there are a number
of stock-h holders who have been forced
out through the big decline of the
stock after the fire and also by the
wiping out of the margins in the
banks. Added to this there was an
assessment levied of SO a share. 1t is
also asserted that the present manage
ment is making a strenuous fight to
continue in control, but it is stated
that it will not be able to Withstand
the assaults that are made upon the
stock and that before the week has
passed there will be. made an import
ant announcement calling for the stock
which will mean that the Eastern peo-
pie have secured control.
FAyoRs LOCAL FIELD.
According to a gentleman who is
connected with Wall street, San Fran
cisco is looked upon as one of. the
best fields for the employment of
money. One of its greatest utilities
has passed into the hands of a power
full Eastern corporation and that utiI-
ity is the United Railroads. The next