The San Francisco call. [volume], June 04, 1910, Page 9, Image 9

About The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913

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The Call Real Estate and Financial Section
EIGHTEEN PAGES
Dumbarton Bridge Inaugurate s New Era for San Francisco
RAILWAY WILL RUN
TRAINS INTO CITY
Opening of New Line Points to
Early Building of Passen=
ger Station
The Dumbarton bridge has been com
pleted and it will be opened to traffic
in a few weeks. This will mark the
beginning of a new era in San Fran
cisco's railroad history.
Transcontinental freight and passen
gers can then be landed in the city
without the slow, tediout. process of
ferry&fre at Benieia and across the bay
from Oakland.
At first only freight trains will be
brought across the Dumbarton bridge.
After r.the approaches to the bridge
«ver the marsh lands get well settled
pa«^PJjger\trains from the San Joaquin
vrU»v; and bay points probably will be
brought 5 n thlfc way., it will not be
3ong,~in the opinion of many who have
studied the railroad situation closely,
before transcontinental passengers
•will be brought over the Dumbarton
bridge and landed in the heart of the
city. , . .
It is necessary to look at a map to
«cc the full significance of the Dum
barton bridge. It is apparent at the
first g-lance that it puts' oft" a big detour
around the.&outh end of the bay, sav
ing :;l-3 miles by the previous shortest
route and considerably more by way of
San Jos*.
By detouring transcontinental trains
from Sacramento round by way of
Stockton 'and Tracy the" *ferryage at
Benieia and Oakland can now be
avoided.
a:\ottier l-ixk needed
But there is' another link to he oora
pleted before the final scheme of trans
continental service will be completed.
Heading due south from Sacramento
is a short branch line, the Sacramento
Southern. This nominally la headed for
Walnut Grove, and the railroad offi
cials announce that it will be con
structed to that point soon. It is gen
erally known, however, that surveys
have been made clear through to Anti
och and that that is the real destina
tion of the road.
This road will form an important
cutoff. Trains could be brought from
Pacramento over this line by way of
Danville and Pleai^nton and the
Dumbarton bridge .directly into San
Francisco, avoiding all ferryage.
From Fan Matco in there is already
provided the fine double track system
via the Bay Shore cutoff, with five tun
nels recently constructed at great ex
pense. Thus it will be seen how every
thing fits into the Southern Pacific's
peneral plan for leading transcon
tinental traffic directly into the city.
This may elucidate many points long
in doubt in the public mind.-
PASSEXGER STATIO.V .\EEDED
The question naturally arises. What
is the Southern Pacific going' to. do
about a new passenger station to take
care of the greatly* increased traffic
thst will be brougW: into' the city?
The Third and Townsend streets sta
tion is notriously inadequate even for
present passenger traffic, to say noth
ing of acting as a depot for traffic
from San Joaquin valley points and
from the coast. On the subject of a
new Jepot site the Southern Pacific
officials are absolutely noncommittal.
Some of the leading real estate men,
who have watched the trend of real
estate purchases,, believe that the
Southern Pacific* is behind the recent
big transfers of land between the foot
of Market street and the Third and
Townsend streets station. In the last
two years- 1& complete blocks have
been bought in a direct line in this dis
trict at ari expense of $5,000,000.
PROSPECT OF CONCENTRATION^
It is argued that this points to the
location of a passenger station near
the ferry house, and the concentrating
of all the railroad's freight and pas
senger business In that section.
thought that this locality has been
chosen so that a union station may be
built fe y the Santa Fe anj Western Pa
cific in conjunction with the Southern
Pacific. «• The other two roads would
thus come in to bear a share in the
large. expense .of, getting. the land and
building the station. It is estimated
that. $5,000,000 .more .will have to be
*p<rnt In buying land to carry out stfch
a program.
Other keen real estate men ar<» in
clined to the belief that the location of
BIRDSEYE VIEW SHOWING JUST HOW TRAINS WILL COME INTO THE CITY OVER THE DUMBARTON BRIDGE, MAKING NEW DIRECT OVERLAND ROUTE
to follow in locating a new traffic cen
ter. On all sides the- opinion is ex
pressed that the Southern Pacific is
bound to provide, an adequate passen
ger depot somewhere before long.'
BUILDING A NECESSITY
The Dumbarton bridpre of itself, it is
believed, will force action in the mat
ter. It is manifestly impossible for
much more passenger business to be
handled at the Townsend street termi
nal. Either in this direction or near
the foot of Market street it is evident
that the Southern Pacific or the com-
Wned railroads must locate a great
passenger station.
The advantage that a railroad has in
landing its passengers right in the
heart of a large city is shown by the
case of the New York Central in New-
York city; Such control did it give that
road of the rich passenger traffic with
Chicago and all western points that the
Pennsylvania railroad has gone 'to an
expense of $150,000,000 in the last five
years to tunnel under the Hudson river
and buy rights of way through solidly
+ — , .—. — , — . .. — _ .. — __
a new depot will he in, the vicinity of
Van Ness avenue and Market street.
They think that is a much more log
ical direction for the railroad company
built up, districts to get to a point on
Seventh avenue near the heart of up
town New York.' > \u25a0'\u25a0-'. t. : ki.'.-
a Harriman always judged San Fran- '
cisco by the same rules that would ap
ply to New York. He, of course, saw
the 'advisability of having a passenger
station riKht' in this city.- The old So
lano ferry boat was always a thorn in
th«» si-'^ of Harriman. ..
He -decided long ago to. eliminate this
in botn passenger and freight traffic.
The Oakland ferry is a source ; not
only of inconvenience but' of delay,
both to the. railroad and the traveling
public*. It will be a great drawing card
for the Southern' Pacific to be able to
offer passengers on all-rail. route in and
out of San. Francisco in Its transconti
nental business.
It is. possible that other roads may
use the Dumbarton bridge ' in coming
into the city. ; The government gave
the Southern Pacific 'the right to build
this bridge across navigable water on
the condition that any other .company
should be allowed to. use it by paying
Its share of the cost of construction, or
by paying interest on -..such -a s share.
Even- a trolley car company could use
'the bridge if it so desired..
.Thomas Magee- believes that the
Dumbarton ' bridge is a - matter of far
greater, importance- than most people
have yet 1 realized; • He has worked hard
to have provision made" for teams and
SAN FRANCISCO. SATURDAY- JUNE 4, 1910.
On this map .notice \ hoto the Sacramento Southern makes newslink in short overland, route.
automobiles to cross it oh an overhead
platform. This is entirely "practical,
and plans have- been drawn showing
how it can be donf. It probably would
be .necessary for the four counties bor
dering on the" bay- to join together to
do "it. Such a direct highway 'would
be of the greatest commercial advan
tage to all that region. As a pleasure
drive alone it .would be ,of ; benefits
uniting closely the college towns of
Palo Alto and Berkeley, and putting all
the fine residential suburbs of the bay
in close, touch with one another. -The
commercial needs.of. the same districts
would be | greatly -.'•helped \u25a0\u25a0\u25a0 by , such '".: a
direct connection.: .
The Dumbarton^ bridge is built to ac
commodate -'a large traffic. It\;is a
double track structure, '.; ; consisting >of
six- 180 -foot 'l spans and | ai.long tdraw
span. . The' cost of ., the bridge proper
was in the neighborhood of $500,000. \u25a0_<
The .'approaches at either, end ~;havc
added greatly to that expense. : At . the
eastern end- there are four miles of
marsh" lands to; be crossed/: This stretch
of : road.has given s the- railroad; com
pany much trouble byUts constant set
tling. . It ; has required .'a constant ' flll
ing;im It is believed that the roadbed
Is now. sufficiently," solid, to permit of
regular traffic . being turned ioverr if
within a 1a 1 few weeks. -. | \u0084
The town of Newark^ is ; planning; a
big celebration "when! the-line.^isr for
mally, opened ;toj, trafllc.;. i The ; people of
Newark - understand *< that'; the ; Southern
Pacific- is .going to its largest
California shops there..
NEW YORK PANIC IS REFLECTED HERE
Stocks on Local Market Take a Tumble in Sympathy With
Wall Street/Flurry ' '. ,
. The panic; that seized the New York
stock market yesterday was reflected to
some; extent y in ( «San Francisco. The
vision of a protracted 'legal struggle
between the government and \u25a0 the rail
roads, coupled :wlth ; assurances of ; the
passage of the railway bill, inspired a
heavy, selling movement- iri,,Wall, street,
sending the" standard stocks, to low,
levels. ThejPacificj shared \ in the 'de
cline, and; naturally. 4 the : wave 'swept ,'.to"
the •: western [ seaboard, riftlany. ' issues
were carried downward :that. -had; been
steadily 1 advancing bnV the i strength of
increased; earnings.. :The;l6cal market
found ; no support and caved under • light
selling orders. vlThereihas ibeen no -dis-'
arrangement^, of ;• the lele- 1
"ments 1 of -strength, r.buti some* t; brokers"
were Inclined ; nevertheless ."tot; take a'
pessimistic view of the immediate;fu-:
ture. : \u25a0•-\u25a0 •\u25a0\u25a0 - • '. \u25a0\u25a0 \u25a0\u25a0\ -• \u25a0 '\u25a0 --. \u25a0: ' - - -'
±i A ; close .study? of? the ;of :yes-'
t ip-rday'S'brealc; however, ywlllj show ,that :
there ' lias i.been -no, actual f: impairment
of values.' -iThe-Bovernmentyhas. sought
merely.^ to> block', a general- increase r; o f
freight 'rates, ; wliich ; was intended \u25a0 not
so much to meet present as
to forestall r contemplated legislation. :;
'.Associated . oil was^the i leader -in xthe
downward imoveV ln, San: Francisco. tj* it
hadrrisen sharply with 'the ; news 1 that
it was ito' beslisted .in' : New,::York! Vr It
had been :: called; but * one day, ' however,
Mt A LOT Mi;
$£iO Size 25x100 $&O
MUIR WOODS PARK
MILL VALLEY i
With. use of, Muir ".Woods, « national reservation.'
| . Running streams; . grood bunting .- and • fishing;
water, roads and trails. - All \u25a0 lots surveyed.' Orer-
looks • Muir " Woods; v>iiliy Valley * and San ." Fran-
cisco. bay.v^Wooded lots. r'V-rj.' «-'\u2666\u25a0•- • •
• . Limited number, of lots at advertising price. - :
" $s;res«rTes;* lotjfor SO. days. ; » \u25a0<
Vv Round; trip '4o cents.' . "
\u25a0•;_ Agents -; meet ; all trains ; Sunday at \u25a0 Mill 'Valley,
i Open evenings tni 8:30 o'clock." ,„.*'\u25a0 ;T' \u25a0
LJ^AcMt& COMPANY:
rJ.--?> ; A:.^:'*O7XPINE'aTRERT:-.--.r;: ,>.;, •;'\u25a0
1 ' Tel.; Douglas Ilia* ; — ; San 'Francisco. , ;
Recent photograph shovtiyg Dum
barton bridge completed.
and yesterday Was swept from its high
level rln sympathy with the eastern
market. Early in the week it had sold
freely here at 53%. The offerings yes
terday left it weak' at 50}». It was
50 bid at the close.
Sugars suffered to some extent un
der the added influence of a menace
of a trade war. Union sugar wag of
fered at 72%, a . drop of SVi points
during the week. Onomea broke to
49%. bid. Hawaiian Commercial and
Sugar, Hutchinson and Makaweli also
eased off.
Alaska packers and City electric were
weaker. Spring Valley held somewhat
steadily, although the demand slack
ened'perceptibly during the latter part
of the week. A noteworthy feature was
the strength of telephone preferred in
the face of rate alterations.,
BANK CONSOLIDATION
Among the banks interest has cen
tered In the consolidation of the Bank
of California and the San Francisco na
tional. Something of. a rivalry has been
noted among three leading- financial in
stitutions of the city, all of which have
within recent years adopted the policy
of taking over other concerns. Their
deposits are -not far apart and there Is
some contention for the place of su
premacy. . It, ls known; that other con
solidations are pending.
\u25a0 The Week ; just closing has brought
HOMESEEKERS'
FREE EXGURSION
.j Under the Auspices of
The San Francisco Gall
To Modesto, the Garden Spot of the Fertile
San Joaquin Valley
Thursday, June 9th, 1910
Automobiles Will Meet Homes eekers
at Modesto,' affording 125 bona fide home
, and land seekers an opportunity to see for
; themselves this wonderful irrigated district.
For free tickets, information and literature,
call" at the office of the San Francisco Call,
/rhird and Market : streets, San Francisco.
,1 L. W. Coffee, excursion manager.
SAN FRANCISCO GALL
PAGES 9 TO 18
-»
about the first distribution of assets of
the California safe deposit and trust
company and an unusually heavy dis
bursement of oil dividends. The safe
deposit company's 10 p*t cent payment
will place approximately $900,000 amonsc
the stock holders in Sa.iv 1 Francisco.
These funds have been tied up since
October, 1907. near three years. Scat
tered amonpr 12.500 depositors, they be
come an active financial force.
The disbursements of th» listed oil
companies for May will reach the rec
ord sum of $1,356,626. To this there
is added $670,000 poid out by the Cali
fornia Oil Fields, limited. Other un
listed corporations will bring the total
to well over $2,000,000. This, of course,
does not take into account the large
percentage "of the Standard oil's earn
ings derived from its California prop
erties nor does it include any portion.
of the Associated oil company's' rev
enue.
Olli IS CHIEF FACTOR
The expansion of the petroleum in
dustry continues as a dominatins fnc
tor in California's commerce. There
has been some uncertainty because of
the present inability to transport and
market the vast production. This
Continued on Pane 10. Column 4
DE MARTINI TRACT
LOTS LOTS LOTS
TWELVE ACRES
Subdivided Into Larce T.ots, for 9a!e-
\u25a0 on Kiixj- Terinn. ,
$1 0 Secures a Lot in the Heart
of San Francisco
Bordering on the San Jose avenue earltne ami
only 2 blocks from the 311«islon street car liae.
LOTS $400
Tni3 bs positiTelj the best and cheapest
larg» snbdlvlsion placed on sale ia tai* «itr.
No winds. No fogs. Lots that caa not Iw
es<*elled and prices ymi >'aa n«t dnplicatp.
Streets to be graded, cement sidewalis.
water, electric light, telephone, good schools.
flye cent car fare. etc.
We are located two miles this side of Occa-t
View. Hut to -reach the property tata tti»»
Ocean View car ]n Guerrero street and -^ft "IT
at Theresa street. Salesmen on the property
daily, incladlnff Sunday.
SICHEL& WILLIAMS
Sole Agents.
2S3S 3IISSIOX STREET,
Branch Office on the Tract.
Thones Mission 974. Home MCT>7».