New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-11-12
BANKING AND FINANCIAL.


STEAMSHIP COMPANY: Your aid is sought by Messrs
Harrison, Joselyn, Green, and Butterheld to change
the direction Of this Company
Their reiterated charges of extravaganza or favor
itism are either entirely erroneous. based upon
partial or inaccurate reports, imperfect knowledge
and have none of them just foundation.
We have already stated the general policy upon
which ths Company has been managed, and which
should, in our judgment, continue TO DO followed.
How wise that policy has been the history Of the
Company shows.
Those who believe the prosperity Of this Company
would have been what it has been. without wise and
provident direction, and able and careful admins
tration, are grieyously mistaken.
The sea is free to all 1t is rs open for any men to
run ships to Aspnwa or to San Francisco rs TO run
them to Liverpool and yet what other line of Amor
lean steamships has been long successfully main
tainedf
The prosperity Of tho Company under the existing
management is not disputed. And we ask you to
contrast its condition before the present Directors
Joined il with its late prosperity and to remember to
whom the change is owing.
We are ourselves very largely interested as stock
holders of the Pacific Company; we believe its man
agement to have been for the common good OF all
the stockholders and, with our large holdings and
our experience we conceive that can better judge
what is for the true interests of the Company than
gentlemen who have only lately acquired their
shares.
These gentlemen who now desire TO have the af-
fairs of the Company committed to their keeping
have never yet had its management. They are, in
deed Directors Of the Atlantic Mail and New-York
Mail Steamship Companies but if one may infer
from the management of these Companies how they
would succeed in directing the affairs of the Pacific
Company, it would not seem as if you at least had
anything 10 gain by investing them with its con-
troll.
The Atlantic Mail Company is running we believe,
but three ships Two of these appear, by the Gus
tom House records to be heavily mortCaged, whilc
their propeller the Missouri is tied up at the wharf,
and from the long list of judgments unsatisied Of
record, against the New-York Company, we would
infer that its administration has not been particu-
larly successful.
We can well understand how parties interested
in these Companies might be glad to have them
leagued with the Pacific Company, or to have tho
business upon this side of the Isthmus restored to
the Atlantic Company and our ships confined to the
Pacific. But we are at loss to sec how the Pacific
shareholders can profit by such associations.
IT, however, stockholders really want the gentle
men who solicit their proxies to control the Pacific
Company, they can have them; for, while in that
event we may take such measures the law affords
to restrain any active injuries TO common inter-
ests we beg to give the fullest notice that We shall
pay nothing to any to be kept in this Direction.
We have a natural and just pride as well as large
personal stake in tho prosperity of this Company,
but We have no other ends to serve.
We know well that any policy but Just the careful,
conservative policy which has been pursued must be
followed by disaster, and we warn shareholders to
consider well for themselves to whom it viii be
safest to intrust the control Of this great property
LOUIS MCLANE,
FRANCIS SKIDDy
VIM. DENNIsToUN,
JAMES NJ. Brown,
NOSES II. GRINNEII,
Ne,p York Nov. O. 1867. JONATHAN THoRNE.