OCR Text |
Show CHINO SUGAR FACTORY SOLdJ Churn Spreckles Secures Controlled This Enl-rpr'se. JH Tliero is now bill ono sugar fartoryTn California that la not controlled uyUie SprccklcH syndicate, the Chlno faeliiiyji having just l)oen secured by Cbvua-, Tho San l'rnnclsco Call Klyj follow lug account ot tho transaction ;H Scvernl ilnys ngo n clieck for ft.500,000 wnsdrnwn upon tho Nevada han"bjj Clans Bprerkles, and siicli nn extraordj-, 'nary largo llnantlal transaction causecU great deal of impilry to bo mado leslo w hat purpo-o siicli nn amount of money wan to be devoted tn V 5Ir. Spreckles at thu tlmo wns disposed to trcnt tho matter lightly, and hi nnswtr to all questions simply replied thnt tlio whole transaction waoflltt consequence j that If tho check had becji tor ten times tho amount then It might havo given causo for inquiry. However, it turns out that M. Sprecklca had a big deal on hand, so it ia said, which Included the purchase of 40, 000 acres of land on which to locnto the Chi no sugar fnctory Just why such se-crocy was obiervcd after tho deal hud been consummated docs not iippcar on tho surfaco, but It la suggested that tlisrc wero BlllI other transactiona which it vvasdeslred toclqse before tho fact was given publicity that ilr Spreckles was the purchaser of Uic pioporly. In tho nelghborliosd of tho Chlno rnnch lies Anaheim, where large tracts of land havo been devoted to beet raising for several seasons p-ist Quite recently an effort nna made to get tho farmors In that neighborhood to enter into a contract con-tract to plant 5,000 ucich of beets for five years, but they roiuicd to mnUe such n deal. Tho reason assigned for this re-uanl re-uanl was that they nlready had under way n proposition to build n sugar factory ot their own, nnd It may lie that it is (or tho purposo of forestalllngthla enterprise that ilr. Sprccklei has thought aelvlsabla to keep in thu bickground, for the present. m O. II. Phillips, of San I.uia Obispo, ia tho gentleman who engineered this deal and In whoso luimo tho property was purchased Mr. riiilllpa la a contractor and promoter of largu means, but it ia said thnt Ids capital would not quite enable en-able him to aw lug ii transaction ot this magnitude alone,, lbvmakMarbujIncHs ot dovelojiliig' tiige, 1'iw'UlI.CRUtfb. capital supplied by others, and wiis one of the two gentlemen who had tho control con-trol of the. construction ot tlio coast division extension ol thu Southern l'acillcfrum Sanln .Margarita toSau tails Obispo. Richard Gird, tlio man from whom the piopeity win purchased, bought the grtnt Chlno much of moio than -10,000 ne-res In 1680. lie established the famous sugnr works nnd practically built the tow u ol Chlno Tho deal just m ido, it is claimed, is tho largest real estate transaction in tlie history ol Southern CUIforula The transfer Include-) the towimito ot Chlno, the Chlno Valley railway, rail-way, the water Hjstein, some livestock nnd theconliaet with the Chiuo Valloy Keel Suar company The Chino Valley railway is a narrow gaiiitc road extending Un miles into llir valley It was built by Mr. Gild, who originally contracted lor building it thii ty miles, but finally cxtcudeu only the dlstnucu mentioned The ruilirml could be made to play an Important part in suppljing the suga, factory vvitli necessary material, ami ii ia probably .Mr Spreckles' into itioa to extend lthteriltory. Notwithstanding tlio detailed account ol tho transaction given nlove, Aa-elated Aa-elated pie-ts dispatches deny that tin Chino enterprise has been sold. lUmll |