New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-13
LOCAL MISCELLANY.
PACIFIC MAIL DIssENsroNs.

PACIFIC MAIL DISSENSIONS.
SUIT OF AARON FREEMAN AGAINST ALDEN d. STOCK
WELL AND THE DrREcroRs-AN EFFORT TO sET
ASIDE IMPORTANT TRANSACTIONS
THE TRIBUNE some time since published
the request Of Aaron Freeman 9 stockholder OF the
Pacific Mail Steamship Company. to the present Board
OF Directors. TO bring suit against Alden b. stockve
This communication was referred to the Hon. Ed
wards Pierrcpont, counsel to the Company. who
recommended that the request should be
refused. which was done. Freeman decided 70 bring
suit his behalf and through his attorney George
NJ Van Hoesen. has just begun action against Alden
p. Stockwe Frank c. Markham. Frederick W. G.. Bel
lows Henry II Baxter. George L. Kingsland. Alexander
Masterton James d. Smith, Henry Clews constituting
the old Board Of Directors and the Pacific Mail Steam
ship Company. The complaint has been served upon
Martin Smith, attorneys for the Company and upon
Shpman, Barlow, LarOcQue Mcfarland attorneys for
e1-President StOckwell.
II charges that. in January or February StockweT
while acting President of the Pacific Company, I'M
lawfully appropriated to his $500 shares the
Panama Railroad Company, which the property of
the Pacific Company and that he loaned sos 900 Of tas
COmpany's money to Frank G. Markham upon the So
curty Of some stock OF a bubble steamship company,
known by StOckwell andsMarkham TO be nearly, If
utterly, worthless with the intention that Markham
should use it for their common advantage
No portion OF the money lent By Stockwe has been
repaid replaced. In January the defendants-Bel-
lows, Baxter Billings. lKingaand. MAstertOn. Smith,
and Clews-had all officially directors become
that stockwe had purOined tho $500 shares Of Pan
anna, and had vrongfully lent to Markham upon
worthless doubtful security SJ65.Ooo and
with such knowledge they made the
agreement hereafter mentioned with stoekwell which
they knew be just much TO the disadvantage OF the
Pacific Mail Steamship Company it was and Is TO the
advantage Of StOckweH.
A. aHo
the $500 shares OF Panama which he had already pur
lOned price far below the actual value OF che shares
when StOckwell misapprOpriated them.
Secondly They agreed that Stookwell might assume
as his own debt the Pacific Mail Company the
appearing the books OF tnat Company 10 have been
Thirdly: That the Pacific Company should buy from
SOckWel four which he then owned, viz the
Nevada the Nebraska the Dakota, and the Moses Tay
Foirtiy rlat stockwell should procure for and de-
liver to the Pacific Mail Company mortgage Tor
s1,l4OOOO upon property Of the Howe Sewing Machine
Fliv: That s55OOOO OF the price to be paid for the
said steamers should be applied by the Pacific Com
pany toward paying the amount due from Markham 10
siIly That the remainder OF the price Of the steam
ers should be credited upon the mortSaGe Oh tne prop
erty Of the Howe Sewing Machine Company when
StOckwel TO procure for and deliver to the Paenc
SerenGiy: That the mortgage should be accepted by
ne Pacific Company IN payment for the $500 SHARES OF
Panama.
The complaint alleges that in the execution Of this
llt OlTtCiOIr were BONtIucu w tioh
vidua interests and the welfare of the Company
Hence the plaintiffs demand judgment:
l. That the sale by said stOckwel OF the four steam
ers the Nebraska, the Nevada, the Dakota, and she
Moses Taylor be adudged utterly void and be set aside
That the sale by the said Pacific Mail Steamship
Company the said StOckwe OF the said $500 shares
capital stock Of the Panama Railroad Company De
adjudged utterly void and set aside
That the agreement heretofore described between
he said StOckwell and said Bellows Billings, Baxter,
Clews Kingslsnd, MastertOn, and Smith, DO adiudged
void, and be set aside.
4 Against Frank c. Markham. Alden b. StOckweU,
Frederick W g. Bellows, Frederick Billings, Henry II.
Baxter, Henry Clews. George L. Klngsland Alexander
MastertOn and James d. smith, for k565ODO, with inter
est thereon from Jan. !, 1873.
g. That Alden B. StOckwellI Fred W G. Bellows, and
the other defendants and replace 70 the Paenc
Mail Steamship Company the $500 shares OF the capital
stock OF the Panama X. r Company IN such a manner
that no Of them derive profit om ana That
the Pacific Mail Steamship Company shall sustain no
from the fluctuations Of said stock III the market
said rockwell inappropriate the came, OF from
the taking replacing the said stock. .
g. That the Pacific Mail Steamship Company its Ill
rectOrs agents officers, and servants be eDOined from
selling using or exercising control over the said steam
ers or doing any act Whatsoever in nncauOn or
executon of the said agreement for the purchase thereof
There were rumors in WHll-st, yesterday afternoon
that stockwen trying to effect settlement with
the Pacific Mail Steamship Company, but thar nothing
definite had been arranged a. yet