The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-06-21

Hne racine MALL Steemship company
An adjourned meeting Of the stsckholAers Of th'
Pacific Mail steamship Company held yestsrsy 1t th
Office of Messrs. Rowland Aspnwai, for the prrposs
Of listening to reports Of committees appointed to In
vestigate the affairs of the compsBy-George W. Blunt,
Esq, in tho chair.
Mr. ABIJAH MANN Jr, from the committee to consider
the Presdents report and to investigate the me- and
the cause Of the failure to make dividends reported
They to doubt ths substantial accuracy
of the report, which they believe shows the actua
condition OF affairs up to the time Of its date when the
"balance' presented the following amount OF assets
S44277es As, with Liabilities Of 5sS ss3 g. being
deficiency loss Of capital stock (sock being on books
OF the company 96b per cent instead 100 par value
paid in by stociholdr Of s14O 4o the com mittse
$500 00o interest payable semi annually and payable in
ten years CT instalments, In years. and
to Of Ss as n Ss an
is due to Aspinwalrs balance
$l99, s64 99-total, $3.50, $50 q5.
financial contemplAted the acceptsnse Of tho
proposed renquishment OF the agency by Messrs How
not required the company a. being source
Of large expense 1t also adviaes strenuous efforts to
Transit Company for the prevention Of ruinous com.
petition.
tors should be increased from five to nne exclusive Of
the President and Vice resident oco members Eve
members to constitute qaorum and they further
err to hold Office at the win OF she Board of Directors
1t was then proposed that Messrs. Theodore Dshon,
Joseph Gaillard, Jr Ed. Whitehouse A. Norrie and
Watm Sherman, he committee to carry into effe II the
recommendations o. the committee and that the report
be accepted.
Mr. WILLIAM q. AsPrNwALL roee and explained some
inaccuracies in the report, and requested division of
the question, which being acceded TO- the adoption
came up
Mr. ABIJAH MANN, JR explained that 1t was intended
that the recommendations should be carried out by the
newly propoed board Of directors and not by resolu
tions emanating from the committee The only point
which be considered to need such resolution
Of the isiue Of bonds which question doubtless the
directors would like to have expression Of the opinion
of stockholders He spoke in Of commspdation of
the way in which the affairs have been managed and at
tbuted the want Of dividends to the necessities of the
immense traffic. the course pursued by the competing
company and the holding of steamboats, and machinery
on hand lying idle to prevent their in opposition to
make an amicable arrangement with the Nicaragua
route, and thus to shut off rur competition but IL
they Will not DO the same then he for would desire
to carry the war to determination.
report from the committee appointed to confer with
tie executive officers Of the Pacific Mail Steamship Com
papy or, they IT. with the Nicaragua Com pany,
as to the rates Of fare to and from California made
This report long ssrea OF letters and reports of in
terviews held for the purpose above mentioned The Nj
the sum Of $l2 900 claimed by them on old account
from the Pacific Company. This the majority Of the
committee concur in. They recommend that the nego
tiaton be continued by the drectors. They leave the
consideration Of the payment Of the above sum to the
stockholders.
To allow time for the examination OF the reports the
mseting adjourned