Chapters on the History of the Southern PacificDaggett, Stuart
History
Chapters on the History of the Southern Pacific
Daggett, Stuart
Pacific railroads -- History; Railroads -- California -- History; Southern Pacific Company
Perhaps the earliest California statute in aid of railway construction
was the act approved May 1, 1852, granting to the United States a
right-of-way through the state for the purpose of constructing a
railway from the Atlantic to the Pacific oceans.[38] In 1857 the
supervisors of Yuba County were authorized to submit to the electors
of that county a proposal to subscribe $200,000 to a railroad between
Marysville and Benicia.[39] And during the following two years the
San Francisco and Marysville Railroad not only received a land
grant,[40] but secured an enactment, making it the duty of the Board
of Supervisors of Sutter County to submit to popular vote the question
of a $50,000 subscription to its capital stock,[41] and the duty of
the supervisors of Solano and Yolo counties to call elections in those
counties with similar intent.[42] No subscriptions were made under
these acts.
It seems to have been the intention of the legislature to treat the
Central Pacific and the Western Pacific railroads after the same
general fashion as other railroads had been treated—that is to say,
to allow counties and cities interested to subscribe freely to their
stock. By virtue of an act dated April 16, 1859, any county could so
subscribe up to 5 per cent of its assessment roll when popular approval
had been secured.[43] This was not, however, enough. Between March 21,
1863, and April 4, 1864, the legislature passed eight acts granting
special concessions to the Central Pacific and to the Western Pacific.
Mr. Stanford had become governor of the state in January, 1862, and
this legislation had of course his cordial approval.
In March, 1863, the supervisors of San Joaquin County were authorized
to hold a popular election on the question of subscribing $250,000 to
the capital stock of the Western Pacific.[44] In April, Placer County
was authorized to consider a subscription of equal amount to the stock
of the Central Pacific.[45] Next, Santa Clara County was authorized to
hold an election and to subscribe $150,000 to the Western Pacific, if
it so desired.[46] Sacramento received the same privilege in April,
to the extent of being permitted to take 3,000 shares of the Central
Pacific,[47] and was in addition allowed to give away rights-of-way
and certain rights of construction of considerable though indefinite
value;[48] while San Francisco was permitted to subscribe $400,000 to
the stock of the Western Pacific and $600,000 to that of the Central
Pacific, making $1,000,000 in all.[49]
Public-domain text, read in full here on John Shaqi.
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