The New York herald., 1867-04-13
The STATE CAPITAL.
Report On the AfairS 81 tho Pacific
Mail Steamship Company.
The Cross Town Railroad Veto
Sustained.
xhe Central Railroad Fare Veto "a
be Acted on To-Day.
%. "a. &c.


~sS"s Sv""<SSS S"ul"pI w su& "6~Neos
AIaAn, April II, 1867.
Tm cunRAL RAILROAD vARn QUESTION
w. the subject Of several motions in the Senate this
morning The vote passing the bill over the Gcvsr-
ncr's veto was made special order for tomorrow at
twelve o'clock. The opposition 70 10 increasing, and
IL friends arc mot % sanguins now Of obtaining the
rsquas tuothrs consent 70 the nna adoption Of the
measure
Avsto of the Broadway Surface bill h expected within
tho next few dayI
THE YRn COMMISSIONERS.
The bill providing for the addition Of another member
70 the present Board Of Fire Commissioner and the In
Of salaries In the Metropolitan Fire Department.
passed the House By . unanimous vote, ninety.two
members being In attendance
ran PACIFIC nAn INVESTIGATION.
The committee appointed 10 investigate the affairs OF
the Pacific Mall Steamship Company have unanimously
agreed upon the following report
- That without unnecessary n delay they proceeded TO
talsiug such measures seemed most likely 70 secure
ali information needed to enable them TO reach
and board Of directors Of the company exhibited
desire for the fullest and freost investigation
cheerally answering all questions and furnishing such
At tho same time the committed, in jnstce to them
selves must deny all knowledge Of ths newspaper pub.
laton Of their proceedings The reports which found
their way into tho press were At best but mutlated
fragments Of the testimony ELECTED will be by
palmed OF upon the public by irresponsible persons
with the object II any, OF adding fuel to he dame OF
or ts Board Of Directors as specned in tho preamble 70
the resolution under which your committee was ap.
pointed were as That the Board o.
falsely and fraudulently with Wow to the &C.
complishment Of their own private ends and
for the urposo OF deprecang the market value Of the
stock Of said company to tho end that the directors
might advantageously purchase the said stocks repre-
the company is on the decline; second tina, the surplus
moneys belonging 10 said company are ess In amount
than In truth they third that the business pros
poets of said company are gloomy and discouraging
FOURTH that the representations had created such feel
ing OF insecurity the part Of shareholders that many
were forced TO throw their stock upon tho market,
TO their great loss, and in instances thoir ruin
These charges would b serious II alleged against the
Cd BY act Of the Legislature. but whom made against
Company, With $4,000 600 capital held BY tens Of thou
character In View Of this fact the committee felt
ranted In making close and searching investigation
charge the only foundation for seems to have been In
the fact that the usua! quarterly dividend Of i've
g ). but po made for any
laiive purpose Al The testimony ,ssms coIolu. &
v. 81; :. . Ss s as s.i hsavsss AZ
ment OF this company s conducted with care and
honesty Even Mr. Garrison had 70 admit that he know
cstes As 70 the charge that tho directors fauduleny
represented that the surplus moneys OF the company
are less than iu truth they are, say II not
sustained and present the following sworn statement
of the prodt and loss Of the conceru:-
Nov 1894 . .92Sl $40 81 Feb, 1855 .S400o ol2 SO
Feb 1896 ... 356S sos 03 May, ...... l86, ,S21 4a
Nay, ...... 2o1.233 - Aug, . ...... So5.202 81
Aug ...... 1oA,05l ~ Nov, /" ...... 100,o05 "a
Nov, ..... S1273 81 Feb, 1857. 3l0,062 II
To ascertain the actual assets Of the company the
mtse aborsd diligently. In CASH including Goals there
is about $40 060 In loans a. 900, 900; In bills
csvabs and upplles about 81 600 900; in real estate
over So 600 OO0 In stock taking the companys valua
ton q i50 1000 600: while the lowest estimate pui
upon the value OF tho steamers 10 $4,000 000 This
makcs The assets mot les than go 0O shough
iug Mr. Jeromss valuation Of the sseamers the total
amount would Be S3S o0o and adding $40 600 Tor
the good viii ana patronage q The oocsrn the aggrs-
gate would rsach e3e, ,000.0 .000
prospects Of The company gloomy were mot sustained
Tho earnings of the company are SHOWN g ioilows
For quarter ending January 81, $40 %
For quarter ending January 81, 1so0.... 32aoSo 81
For quarter ending January 81 olSos3 90
The company actually divided more In dividends the
last quarter than In any preceding quarter Their capital
had been doabed and three pcr cent on $50 s
more than hve per cent on $40, 600 000 Other work
was being done at this time requiring the outlay Of vast
Several large steamers were being built for the
China line land had been purchased and vharves
being erected In tho Celestial empire for the Transaction
Of the new business All these matters tended 70 make
the directors very conservative In order TO mako tho
dividend matter clear tho committee present the
| following sworn statement:-