The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1910-04-12
EXPERTS REPORT
ON OCEAN SHORE
Engineers Assert Road Could Be
Put on Paying Basis for
-$3,l9S,970

The expert report on the physical
condition of the Ocean Shore railway
long awaited, was filed in the United
States circuit court yesterday without
materially altering the offhand esti-
mate of Receiver F. S. Stratton, who
had stated that the road could be COM
pleted and operated on a paying basis
for 100000. Virgil Bogue, A. w
Foster and Colonel w. H. Heuer, COM
posing the special board of engineers
say that S3,19S,970 is needed for this
work. With operating expenses al
S337,275 a year, they believe the an
nual revenues would come to s503,500
leaving a balance of $116,225 to be ap-
piled on other debts.
WILL OPPOSE CERTIFICATES
Inasmuch as the report was called
for by Judge W. C. Van Fleet for his
own guidance, no discussion followed
Attorneys E. J. McCutchen, for the in
surgent bond holders. and w. L Bro
beck, representing the Mercantile trust
company, the trustee, were not In
court. McCutchen was out of the city
but Brobeck said afterward that he
could not see how the report would af-
feet the case materially. While he had
known that the bond holders would not
favor their own claims going from
first to second place by the issue of
receivers certificates amo uniting to half
the original cost of the road.
J. Downey Harvey, organizer of the
company, seemed to be greatly pleased
over the findings of the engineers, es-
pecially over the part dealing with the
roads future In this regard the ex-
perts, after speaking of the rich nat
ural resources of the country tapped,
and the scenic attractions of the line,
declare:
I'm view of these conditions we be-
lieve the traffic possibilities are excel
lent and that when the road is finished
it's passenger and freight traffic will
rapidly grow, and that the railway
itself. as property, will rapidly in
crease in value"
BELIEVES INVESTMENT GOOD
This, Harvey commented. comedies
with the opinion of ]. G. White. the
railroad expert, who testified early in
added. particularly in reply to the
stories that he had lost heavily in the
road
The report bears out the original
good Judgment of those who started
this line. 1 don't call the money /
have put into 1t lost, but well invested
The receivership was called for to tide
the company over a crisis to save in
vestors and creditors alike The posi-
bilities are there and they will be rea-
liked Just as soon as the track Is COM
pleted."
The Ocean Shore, according to the
engineers, has completed 5342 miles OF
track. leaving a gap of 1851 miles be-
tween Tunitas glen and Scott creek
To take the says. humps and kinks out
of the completed sections. rebaIIastine
the track, dressing the slopes and
building drains would cost S147,045 on
the San Francisco end and s4,52l or
the Santa Cruz end. The gap. for
which rights of way have been secured
would cost $1,199,549, of which S6O1 95s
would go to grading. $S3,336 to a tun-
mel and $54,346 to trestles.
Rolling stock on hand consists OF
six locomotives owned and four leased
two electric engines owned, IL pas
senger cars owned and seven leased anc
81 freightcars owned and 165 leased.
Petitions in Intervention were filed
by the National car line company tc
recover s2,505 for lease of fiatcars an6
by the American steel and wire com.
pany for $685. for wire furnished ir
fences. H. D. Pilisbury got an order OF
court for the appearance Of Receiver
Stratton in a number of suits on claim,
pending in the state courts.