New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-07-01

United States Express Company the Adams ESpfess
and carrying business Of same general Character az
that of the said American Express Company unawfuly
Merchants Union Express Company ard overcome and
destroy the said competition and to retain monopoly Of
unlawful purpose, the said combining aud canfed.
between y nSea inc ~ s anal
tariff Of express charges 70 very low and ruinous rate
and carried on except al great and losses that n
about the month OF October 1856. the Superintendent
tiff Informed and believes in pursuance OF Che agrecment
and confederation between that company and the said
two other confederating and combining companies
issued private and confidential circular to its supera
an @aEsS % said S pan ops
and believes that the Others OF the said combining and
20 their respective supcrntendents and agents like on
similar circular and that from that time the directions
contained in the said circular wore followed aud Oh
served by the superntendents and agents OF the said
combining and confederating express companies, aud
erstng contrary to tSs aqy Dd as FT
Company or to deliver to it any express matter OF any
description, and refused to have any dealings with the
seSeratS Companies did reduce the rates OF Transports
ton all express matter to figure much ess han the
actual cost Of tanspOrtaon and from tnat TINE 10 this
thesaid American Express Company and the other oomb
ing and confederating companies nave DeeI anu ea'
ing express matter at low and ulnons rates ana uong
business at serious loss, and at loss that VIII prove
ruinOus II persisted in - . ,,,s.
federating express companies, including the American
Express Company have been, from before January soI
of month 1nS by MONTH that the receipts Of the American
Express Company for the saS 9pns al agnst re
ceyed for the corresponding months OF 1900 snowhng
falling off Of the receipts rd l0r Of the said AmeTan
Express Company to the United STATES Aseso.s, au
inc companies were greatly reduced during the
months from the corresponding months III 'o pro
SrrenM That in the month Of February 1851 the sad
plaintiff stOckhoder Of the SAD american ,hs ns
Treasurer thereof copy of which Is herenno alneAeo
%aTR1d b S1IS Is sas and IN Witch they
have deemed 1t prudent, for the pest lnsIesLs 81 Ss
able on this date that entire earnings Of the Com
many may be used I'm carrying on TO successful
biacEmail this and other established express companies,
and in which they further stated that was evident
the competing express companies could not long cont e
to operate upon the same lines and that " II Il clearly
the policy for this Company . sa seg q asses
its Stockholders 70 insure compee az ds 81, y y.e
mmedatey UPON the receipt Of the said circular and OF
the 2th day of February 1867 by letter addressed 10 una
which is hereuno annexed, marked c. protested against
Of action indicated By the circular ana
the said Company and the said plaintiff has AZ an nnes
bs and reckless Course pursued by the Amer,
lean Express Company In connection win Inc su o'het
combining and confederatDg companies anu asahs lhe
resorted to TO destroy lawful compeuuohih ouS
| ness -, - T.
press Company has not for many months past pad ns
current expenses Of the az this panh Informed
been very serious great and. If the same course OF
action continued for the future the plaintiff 9pPrs
speedily bankrupt and insolyent even ~ Is Los
o6s@ss Gs t sas raa Express
now borrower OF money to q largo amount III inc
and aTSg from banks 6 aa ana Carrying VII on is
business that 1t has no surplus that Only nom ~ 70 ~
til Is informed and believes, by the real and persona!
property which has been acquired and is now held and
d D sf da by the ne is business
the good viii Of its patrons and t franchises that me
eves is Very largely in debt over and above any means
in its possession for the payment thereof other tHn ny
| holders.
the said directors and managers of the said Americas
Express Company have at various times used ana sp-
press Company for the purchase and sale Of stocks OF IN
the purchase OF stocks for speculative purposes and hat
Central Railroad Company which held in December.
the said Directors or Trustees some or one q hem
Company in the OF one OF the said Directors or
use and benet Of the said American Express Company
and by the use Of its means and IFS credit very largo
pany, and the said William G. Fargo at the said electlo3
Of Direetors voted upon fSuT millions OF the sa s9ck 2,
been purchased and then held by or IN trust for the
thereof fST he was enabled to elect himself te said
William g. Fargo. John Bui,erfled. and EdT Dan
road Company that the said plaintiff Is informed and be-
eves the said directors or trustees are now carrying
E E eSs Compay and for the saidCompany very large
Of the stock Of the Central Railroad
COMPANY which was purchased at a very high rate and
upon which there must If the stock is sold at present
rates be very large and heavy loss ana the sad pam
purchases of stock and all specuaons OF every Kind by
the said directors Tor or N the name OF .ne sam a Y
are severay and individually liable 10 the STOCKHOLDERS
be sustained as result Of the said specnatons; that
the said Central Railroad stock was purchased m rosecu
ton Of the combination and conederacy Aforesaid ana 20
| Illa he American
and hinder the business OF the said Merchants oh'oo
4 That by tho terms ofthe stock certificate issued
to the said plaintiff and to the other OF me
to further II the same shall be necessary %
carry on the business o. ana 70 pay any %
of the said Express Company was formerly proftaole
business ana the same might nave peen ~ tS d s
carried on at large profit and might now II inc dec
and trustees and managers OF inc sald company
would cease their unlawful and reckless efforts to ruiz
competition and that although In the opinion OF the said
had been in the habit OF giving them business upon which
large profits and gains were made, and which they VII
unable regain yet the said Company might be saySs
nom further loss If the said directors and wotd
now consent to abandon or withdraw ffom the SAID
the business Of the said Company upon business prnci
pies exactng and charging fair and reasonable rate
Ing such course, they would be enabled from theii
earnings TO pay reasonable DIVIDENDS 70 ther @
federacy TO be continued ard the said American En
press Company shall continue therein and continue hso
been ana are sdong the result WILL as the said plainn
apprehehds and believes be that the stockholders Of ING
said Company will not only lose the divden9s whsS
might be made upon the business OF the said Company
from its earnings but will be compelled 20 contribute 20
the payment o. the expenses OF SAID Company ana ths
debts thereof and the stock viii prove In the enu 0''s
loss. ,,sE
Eeren That the action Of the said several cOmblnins
aud cQnfederatg express coahies has secured to he
SAd Merchants Union Express Company he sympathy
Of the pyble, and brought to the said Company wa
large ard valuable business which would have been otE
erwise done by the said combining and confederasnl
companies and especially by the said American Express
COMPANY and the said American Express Compan! .