'Today in Steamboat History'/RIVER LINES merger.
'Today in Steamboat History' "Formation of RIVER LINES, Feb. 1, 1932" is interesting. Here in the 'dusty boxes' is the original incorporation papers relating the details, reasons and final legal/financial decisions. Too long to relate in one posting. The agreement does touch on the 'freight agreement' etc. at discussed on the web recently.[*] = comments.
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'Formed Feb. 1, 1932, merger of the 'California Transportation Company, 'Scramento Navigation Co.' and 'Fay Transportation Co.' the three being authorized by the then Railroad Commission of the Sate of California in Decision No.24420 to conduct a unified operation under the name and style of 'The River Lines.' The merger was brought by a complaint case No. 3034 filed in the fall of 1931 by the 'California Transportation Co.' [*C.T. Co.] against the above claiming their operations were being conducted illegally and tht their rates were discriminatory and unethecal and would result in a disastrous rate war unless cancelled.
The 'Fay Co' held only two rates between Sacramento and Bay points at 15 cents per cwt, regrdless to classification and 10 cents per cwt on freight carloads regardless of classification. This competition was drawing considerable tonnage from the two older companies. In a hearing before the Railroad Commission, Commissioner Stevenot suggested to the litigants they consider merging their respective companies under a unified operation rather than fighting each other for the existing tonnage which was not of sufficient volume to support all three companies under separate operation and management. [*Depths of the Great Depression.] Thus all three merged under 'The River Lines.'
Board of Control was appointed of the following:
Capt. C.A. Anderson, Chairman of the Board
W.P. Dwyer; N.A. Fay; N. Fay; Platt Kent; Wm. Hetson; John C. Stone; Major Tilden; Robert Devlin. A Division of Revenue to be: C.T.Co = 53%; Sacramento Navigatioin = 27%; Fay Trans. = 20% with a guarantee of $50,000 to Fay. [*Documents here have N.A. Fay's marginal notes.]
Large quantities of agricultural products were handled from the San Joaquin Delta Islands to San Francisco and Stockton. Other vessels and barges handled carload lots [*CLC] between Sacramento, Bay points and Stockton. Barges handled large lots of grain and rice from the upper river to Port Costa, San Francisco Bay wharves and docks. [*A kind of 'hukster' trade.] Truck/road operations became more active in the handling of merchandise between points served by the 'River Lines' giving faster service. It was apparent to management it would be necessary to acquire trucking rights to supplement the slower vessel service on many types of merchandise." [*'Truck farming' as feared by Jim Burns had proven a bitter pill.]
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NEXT: 'River Lines' moves into petroleum shipment with barges built at Stockton by the DRAVO Corporation.
R. Dale Flick