New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-08-11

mi interests controlling The mercantile marine Either
horn of the dilemma was equally impalng, so the ohcr
OF the "charter" was everywhere met with q coiu
shoulder.
Murdoch and White then struck upon the cxpedent OF
forming mammoth company, without charter, ana only
prospective capital Of $300cO0. Murdoch, after VAIN
10 raise $4,000 with which to purchase the accept
ance" of Dr. Carnochan which was necessary peoie pe
ginning operations, forced 20 abandon at once his
share the anticipated spOs ana his claim to the ONCE
of President of company which did not at that ume
represent cent OF bona tide capital.
George W. White then seized the relns OF power, ana
Locke, Morgan and Murdoch were thrown overheard
Up TO that time the company had been myth OF inc
shalowest character. White, having several friends
who were financially aforementioned, at last eontriyed,
by adrot representations Of the wealth which was TO be
garncred in the speculation TO induce them 10 take
stock. He figured the gross earnings OF the company
from nshterace scycdOrns, passengers, Hel6ht, ana
cooperng at $4,000 for the season of four months
White Put in $1,000 aud Talmadge Mills and Tiffany
each took 900 worth of stock This was the manner IN
which the $4,000 was raised 10 pay Dr. CarnOchan.
The cash for the 500 coo having been procured, Geo. W.
White, on behalf Of the Company, paid the same, (May
%, $780, ON Broadway, Cedarst, to Dr. Carnocans
agent, Martin Wiener of Staten Island. The act was
Witnessed as no receipt given, by Locke and Mr.
Johnston, lawyer Of Broadway. 1t was also settled
that $50 per week was to be paid during the Quaran-
tine season that is 5000 per MONTH or $4,000 for the
four months this to he delivered in bills ut Quarantine
before O'Clock the afternoon Of each Saturday This
$4,000 paid in bank notes. Wiener having refused to
take certified checks for the amount. Wiener owns q
saloon at the landing next Quarantine, Staten Island,
and claims to have absolute control OF Dr. Carnochan
Wiener has been heard TO say that OF this first payment
CaTnochan received $1,000 while he retained 5000
This $4,000 was paid osensby for the privilege OF fly
ing the yellow fagthe colors of the Quarantneon all
the steamers tugs lighters and barges employed by the
Company This flag is the sole property of the Quaran-
tine and, "without written permit from the Health
OAlcer -ce Sec in "Rules and Regulations TO be OBJ
served by masters Of under Quarantine printed
above)" boat or craft " any kind is allowed to 80
alongside vessel at Quarantine to have intercourse,
communication, or dealing with her or passengers,
for any purpose whatever" This the blood-mOney
paid before even the right to enter tie proscrptcd limit
could be obtained Material for these flags pur-
chased, and they speedily made by Vim. Powell
southst In the ledger of the COMPANY the following
| disbursements for these flags are found
10 iste-Two yellow ases to TIE Re. Hanl T. r.
No one yellow Gag 10 TIE SCI, low
10 5asfares ' ;cioa as. to lie J. s cousaa Co.
Nod4e-ore yellow els to t4e seth 10y ser9so4l
June IL IG5l-G Three yellow aags to J 5 CUkla 20.
June Il isii-0as yCioq a. TO s, JOIN
June 49, lg7l-1bree yellow flags 70 j. $ ConkiD 60.
Jaae e. io.l-ore yeOs a'g to Wa Tteq5n
| June D. l57l-Ono yellow flag to }. :. Conkin & Co.
book for subscriptions An Office leased at Nos IT
and 10 Broadway and furnished in sumptuOus style.
The company went IN debt for the carpetng the desks
and the So f. the latter procured trust from Qurk in
Maidcnlane. Everything iuthe Office, with the eXcep-
ton OF the carpeneTwork and painting, was procured
upon credit White making out the orders. large and
elegantly gded sign (Which may to-day be seen LYING
| in the basement adjoining the Oceanic Steamship Com
pany's Ofcc placed upon the front OF the building,
and cards bearing the following inscription were issued
NETWORK HARBoR LTGHTERNG AND sTBvEDoRING CO.,
OGce: Il and 10 Broadway. New-Iork
Geo W White Pres'L Dexter Iia'1y' seey'
Amonstrous attempt was then made to force the
stock upon Tie by tn false announcement that
several large Spectators James Fisk r among others,
had each subscribed to the amount of $4,000 MI short
land of Shorthand Co.. upon being solicited to take
shares very properly asked to be shown the Tangible
and was told that the Company had already bought CON
siderable floating prOpertySeyeral steamers and barges
| being named-au of which untrue, rs Shorthand
found upon investigation They could not show even
the shadow OF charter for anything exec. ne lighter
ing and stevcdOuuc-the exclusive right TO carry passe1
GERS to tow, TO cooper and TO stow they proposed to
| assume.
portion of the stock was subsequently, offered 20 H.
Il. Miller wholesale grocer, then at No l55 Maiden
lane by the officers of the Company with the assurance
that the sOO0OO was nearly all subscribed. He aTeedt
take $4,000 worth provided he was allowed the privilege
of seingit This being agreed to- he paid 10 per cent
or 81 900 on $4,000 worth Of stock, and at once sold 1t TO
Lowell g. Sinclair, No Is COentes-slip The stock, how
ever never came into his possession BY energeticaly
Offering the he succeeded in getting $4,000 add
tional subscribed, and for this service appointed
Superintendent of the Company, with salary of $1,000
for the four quarantine months" He was authorized
by the Company continue sales of stock, and called
upon all prominent sevedOresi in the city telling them
that they were willing subscribe for $40 600 worth they
could have privilege OF doing the stevedOrng by
ing the " T. H. s. and L. Co. Is per cent Of their earn
inqs Several firms Investigated the matter but doubt
ing the right OF the Company 10 give the contract or to
levy the commission positively declined to participate.
A compromise was effected with Love and Sinclair,
through which, by paying $1,000 down Tor per cent OF
the $4,000 worth OF stock they did the greater part of
the seyedorng; they agreeing to pay in addition 25 per
cent Of their gross earnings 10 the Company This was
arranged by Miller behalf Of the n. y H. and L. Co.,
10 second party being present during the transaction
The same arrangement was made the hghering with
Shorthand & Co., who owned sufficient NUMBER
of boats TO do the entire business They took 5000
Of the stock paying 10 per cent or $500 down. ana
pledged themselves give per cent OF their gross earn
ings to the n. V, H., S. and L. Co.
Henry McCumskey of a prominent eoopeIage mouse,
contracted the terms TO do the cooerlng such
was the origin and foundation OF this extraordinary
COMPANY without charter capital, but licensed to
cruise the high seas the lower aud upper bays to plum
der commerce as boldly ever the Alabama did.
No other contracts let out the Company resery-
ing TO themselves the right TO do the towing the trans
pOraton passengers and to receive the commissions
on the warehouse business The latter looked for
ward TO as their great Of income and from that
alone receiving only per cent upon the receipts,
they expected 10 net 100000.
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