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Messrs. Kuhn, Loeb & Co_,

New York.

G en tl an en : -

( COP Y )

San Francisco, July 9th, 1892.

Business men and real estate owners here arid all

over California, also Nevada, are dissa tisfied wi th the way the

Southern Pacific and Central Pacific Rail Road treats them; ~ately

an association has been fo~ed by a number of wealthy men, to bu ild

a Railroad f'rom here to tl:1e State of Nevada and frOm there to Salt

Lake.

The fi:r'st 90 miles to Stockton will be built :and paid fOr

through subscriptions collected in this oity- I an one of a ~od

many who is willing to subscribe $20.000. stook, the association

caloulates to collect 3 million dollars in this city alone 8 y theBe

.. ate , by these means may get large subsidies frOm analler cities

on the line where the road is intended to be built. I dare say we

"have 4 million dollars in cash and subscriptions on hand by the

time we start.

Five counties in Nevada will issue and deliver us their

bonds at the rate of 3,000 dollars a mile, the bonds to be secured

and a sinking fund to be established by the taxes which the tOad

has to pay in the se counties.

My aasoci ate a think tha t the road will be 900 miles long.

will oost about 27,500 per mile to build and $2,500. per mile to

equip. The capital stock ought to be not less than 30 millions

-2-

K.L.& Co.

ana. the bonds to be ,issued at the rate of 30,000 dollars o~t to

be 50 years gold bonds bearing 5~; add a redemption clause to it

to the amount of one % to begin ten years after the bonds are

issued.

Up to now we have surveyed our line in California and

partly in Nevada, we have a gooa Chief Engineer, but we lack a

Railroad man to be on the head of the enterprise.

Assuming that all my expectations in regard to 3 millions

subscriptions, say two millions more for subsidies and Nevada

counties bonds are realized, the next question cornes up : -What

prospect have we to sell our bonds in New York and how much Or

little will it eost us to place 20 millions in your city (a good

many will betaken here at par.)?

If the pro je at outlined here seems to you feasi ble, and

may possibly lead to business between you and me, then I will ex-

pect a full ans~er to this le tter, and also suCh further advice

whish your e~erience in this line of business enables you to give

me, if you think the proj ect not sui table to you, then drop me a

line to tha t e f'fect.

I remain, Yours very truly,

(Signed) Daniel Meyer.