A contemporary examination of the growth of Southern Pacific in the 1890's and argues for competiton against high railroad freight rates. Describes the San Francisco and San Joaquin Valley Railroad's formation as an alternative for travel to the Central Valley. Includes chapters on other notable San Francisco enterprises and associations of the era, and lists members of the Traffic Association of California as well as stockholders of the San Francisco and San Joaquin Valley Railway or "People's Railroad," as these holders were from all economic levels.