SCS 1886 Nov 27 3:5 SP buys SPC

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SCS 1886 Nov 27 3:5 SP buys SPC - Stanford & Co. Secure the Narrow-Gtiuge-...
Stanford & Co. Secure the Narrow-Gtiuge- Narrow-Gtiuge- Narrow-Gtiuge- Narrow-Gtiuge- Eonte. The Atlantiu and Pacific road is said to have wanted tho S. P. C. R. R. as an outlet, aud Stanford ii Co. wanted it to prevent the Atlantic and Pacific from getting into San Francisco Francisco via Oakland. Tho matter was "whip - sawed" about for sovoral months, aud it was only within the past few weeks that any sorious or buying propensities were indulged in by the great corporation which controls controls all the great "T rails" lit the country. At tho limit meutioned, the Atlantic and Pacific line, which was struggling to avoid falling Into the hands and the absolute control of the Atchison and Topeka line, put in a bid to Senator Fair for the purchase of his line. The bid was J4,000,000. The Southern Pacifio Company raised that to $4,500,000, and was met by a bid from the Atlantic and Pacific people people of 5,000,000, even up. The company's object was to cross the country from Mojavo to Santa Cruz, a distance of about 175 miles and by putting in a third rail have an outlet to San Franeisco by ferry from Oakland. TIME WAITS FOR NO RAILROAD. It was while this bid was being considered that the Atlantic and Pacific Pacific passed under tho goneral control of the Atchison and 'iopeka people. It was a question of whether tho Southern Pacific Company or tho At lantic and Pacific, tinder its new man agement, should have control. The former were the most persistent iu their inquiry and bidding. They wanted tho narrow-gauge narrow-gauge narrow-gauge and do-terniined do-terniined do-terniined to havo it at any reasonable price. Saturday last Senator Fair signed a deed transferring all bis right, title and interest in the South Pacific Coast Railroad to Stanford, Huntington, Crocker A Co. The signing of tho articles took place in Senator Fair's olllce, and an absolute transfer of the road was made iu the office of Mr. Crocker at tho railroad building on Townsend and Fourth streets. The price is not authentically given by either of the parties, both Sonator Fair and the Soutliorn Pacific Company officers being reticent in regard to tho matter. Inside information information says that tho true price was $."),300,000. TUK OAKLAND ROAD NOT 1NCI.VDEU. It must be understood that tho sale does not include tho cable car line on San Pablo avenue or the steam line on Telegraph avenue, west from Four teenth street, in Oakland. The people of Santa Cruz do not know whether to feel glad or sad over tho consolidation, sad because railroad railroad competition no longer exists between between this cily and the metropolis, and glad because there is now some hope that the railroad people will do as well for Santa Cruz as they did for Monterey in the construction of a hotel.

Clipped from Santa Cruz Sentinel27 Nov 1886, SatPage 3

Santa Cruz Sentinel (Santa Cruz, California)27 Nov 1886, SatPage 3
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  • SCS 1886 Nov 27 3:5 SP buys SPC

    sstevens – 24 Oct 2014

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