The San Francisco call., 1910-06-25
S. P. DEPOT AT FOOT
OF MARKET STREET
Probable Location of Magnificent New Terminal
For Which $25000000 in Bonds
Are Being Sold

The Southern Pacifc's announcement
early in the week of the placing on
sale of s25.ooo.OoO worth of san Fran
cisco terminal bonds was widely dis
cussed in real estate circles.
This was taken to mean that the
long needed passenger depot would
soon be begun
While the railroad company's officials
would make no statement of the exact
location Of the depot nor give any de-
tails about plans, still it is generally
accepted that the new terminal Will be
located at or near the foot Of Market
street. President r. s. Lovett 81 an
open letter makes the following state
naents:
The plans of the company for the
development of its terminals in
tion OF a cOmmodious passenger
station and other buildings and
conveniences requisite in a modern
railroad terminal in a city of such
size and prospects.
President Lovett also said that such
2 terminal is now Indispensable and
win be used by every train of the
Southern Pacific company's system en-
tering San Francisco; that is. all local
and transcontinental business except
said that the terminal property in
cludes q large area in the business dis
trict of San Francisco and the pres
ent double track terminal railroad, II
miles in length. entering the city from
the south about 20 miles Of other track
and nearly 200 acres at Nisitacion
point adjacent TO the city limits, upon
which there are in course of erection
engine houses. machine shops. car re-
pair shops, storehoUses, a power house
and other buildings and appurtenances,
all Of most substantial character and
which are TO be equipped with ma
chinery and appliances of the best de-
sign.
SITE OF DEPOT
This statement from the head of the
railroad system leaves no doubt in the
minds Of real estate men that the new
terminal will be at or in the immediate
vicinity OF Market and East streets.
AS long as 80 years ago c. P Hunt
ington began TO acquire property from
this point down toward the present
depot site at Third and Townsend
streets. This policy of acquisition has
been kept UP, both openly and covertly,
until now ii is known that the railroad
company owns probably the greater
part of the property in a large rec
tangulsr area between Mission and
Bryant and from Steuart to Beal
streets. This Of itself would afford
ample room for terminal.
But there are signs to show that the
railroad company intends to push it's
depot and Office building UP to the
corner of Market and East streets.
They have acquired holdings coming
around in a half circle from Beal street
across Mission and across the middle
portions Of the two blocks between Mis-
sion and Market from Spear to East
streets.
The company now has a frontage in
Market street from the Buckley build
ing 10 the new building on the corner
Of Market and East streets. 1t also
lust south of the new building in the
middle of the block between Mission
and Market streets.
There is a report current that through
negotiations with Buckley, now in New
York. the railroad company has either
acquired the Buckley building or Is
about to acquire it
Ss.OO0.oOO FOR PROPERTY
The rest of the private property that
the company may need for a terminal
building in this vicinity could easily
he acquired by condemnation proceed
inxs. II is estimated that the COM
nsnv has already spent upward of
81 600 600 in buying property in this
vicinity within the last few years.
That the company is prepared to go
ahead and acquire what additional land
IS needed and build a. terminal that
win be q credit to the city is evident
frou, the fact that the total authorized
amount Of the mortgage bonds is $780,
Oon 600. Of which only S25,000,000 will
he raised at present, the remaining
sz5. 600. 600 TO be issued hereafter in ac-
,cordance with a plan for the acGuisi
ton of additional real estate, wharf or