New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-10-31

The onnos1tion TO the reelection Of the present
Roard If Managers Of the Pacific Mail Steamship
Company have sent out their circular, soliciting
proxies for Messrs Frederick Butterficd, Spencer
X. Green and G. IIartstien. The circular, among
other allegations, says:
The freghtiug business done until the present man
ayers obtained unlimited, and apparently - themselves,
permanent control by clerks m the employment Of The
Company at an aggregaie OF falSS mo, e'
Which Mr. Louis SicIaue IS President commission OF
five per cent gold, all freghts earned by the Com
many large number OF influential stockholders believe
that the present management OF the ahlrs OF the com
pany is very hduicOus aud extrayagant and that inc
welfare Of the Company and Of the stockholders demands
a change OF Directors
hand or loan fund which now must exceed sS0Ooo0,
that dividends earned should Dc distributed regularly
among the stockholders and that there was not and Is
not occasion for making less than cent quarterly
That it Is unnecessary and improvdent TO pay Wells.
Fargo Co. commission Of per cent IN gold ON all the
freignts earned by the Company
Of per cent 10 firm the charter OF all vessels
feighng coal for the Company to the ports on the IA
chc Ocean 10 Is estimated that the Pacific Mall Com
paDy must ship about $1,000 tuns oi coal 70 nc racine
which would amount at the per cent rate, TO over 500
Tie service Of obtaining these charters e0ud as wen
be done by the regular officers and clerks Of the Company
or If thrown open to competition, brokers could be en-
plOyed 10 do the work at probably 5000, ana surely
$4,000 per annum would be liberal compensation. =,
They believe that the salary Of $4,000 IN gold 10 te
President exOrbtant ana that the whole ssen OF te
management Of the offices In New YORK ana eiseWheie -
extravaganza and such 30 individual would tolerate IN
the conduct Of his private affairs The office expenses OF
the Company charged TO be over nan moh OF uoi
lars per annum. As the sale OF passage uckeis s not
made Wallst Office but ia mostly or entirely con
Quoted at the offices Pier No A, and the nelght Dus
ness is all by Wells. Fargo Co.; they believe that
there rs not the ghes for the hiring Of the pres
ent offices IN the Brown Brothers Co. building, at
rent OF $40 900 per year.
The offices In Wa-st are not kept for the convenience
OF the stockholders for they not allowed 70 examine
even the of the stockholders except when man
damtes u obtained from the Supreme Court
They believe That the Company are pursuing an err
roneous policy in building wheel steamships %Gm
for the purposes Of nearly all OF It's business screw ea
ships would be advantageous aud pr0ntaDe inc
first cost Of which, as well tho cost OF running ana
maintaining them, is not much more than onehaI lhe
Of side wheel steamships and that destructive
OF the best interests OF the Company 10 deny competition
IN the engine and machinery work IN the steamships ana
cOntne 1t 10 the Novelty Works. and that the fact That
some OF the present Board Of Directors very largely
Interested in the Novelty Works" 10 not sufficient
reason for the stockholders OF the Pacific Mall steam
shin Company giving TO the Novelty Works" as mat
ter OF course all works OF the kind done at that es
tablishment.