The New York herald., 1874-12-08
PACIFIC MAIL MATTERS.
Election OF Presfdent-Russeu Sage
Answers the Managing Director-Wan
Street Ethics-selling s'CaIls" No spec n.

yesterday morning tnlugs were HVeiy on ''tno
street" Pacific Mail stock. under the Effects Of .
vigorous "oear'' raid, sold down from Al to Ssx.
In the afternoon, at one O'CLOCK. at the splendid
offices OF the company. an
ELECTION FOR PRESIDENT TOOK PLACE.
The directors meeting was very harmonious, and
MI. 7. Alexanure toi +. Alexandra & sons), OF tho
New YORK, havana and Mexico steamship Company
was unanimously chosen 10 succeed Mr.. Russell
sage the late President and Mr.. W. ii. Fogg, tho
great tea and silk importer or Buring Slip was
elected as director to I'LL the vacancy. The con-
naence inspired by these selections sent Pacific
Mall up TO Al again.
The late President issues a replv 70 the cnaroea
mace against him OF specializing in the company's
stock. IN which, without answering the statements
ALREADY put iorth, he narvey claims that selling
'cails" Is not speculating. We append the
STATEMENT OF Mr.. RUSSELL SAGE.
TY THE srocKHoLDsas or THE PACIFIC MAIL srTAxsHy
You have seen BY the daily press the Of
Offering il stated ali that considered necessapv IN the
way Of motive. and expressed sincerely my kindly dis
bsye snes sneaa ons nase axs h TO but
through the channel, chiefly emanating from Mr..
Eugs Hatch a ana WIZ eoarseaess q Ian
materoi self respect considering especially my
make this statement ~ -" y ''A'
sf my Sh os who M DO aas liz q
wall, perhaps be as SURPRISING as It may be useu1
and ynaicye M temper coarse anguage and IL balanced
olsan had With hi%
e the AND gross ss OF rom
member recent occasion OF when the exhibition oe
as pesaliar Qualities put rsk the ship oiy FeKns
q snd es apFsaa e Hy my eow
Resses Of the ac,s 70 corroberae my statement Of them
M ing 70 vs e yas a. ssS in the s
na tAe presence o. crowas % OF guess ana passengers
in the ,s first
coarse ansuase wnias nave '.V eharaeierlssd Aa hs
ad he S made a 70 ess
their posts and submit TO be replaced by others whom
was only ended by the Of The Tnes
the Messrsp Taco ao Guion aDa
M BY rea 81 sHsrens prevailed upon him 70
refer to these matters that you may, know the
stance other similar or worse conduct Of Mr. hatch
nv personal connection with your company has been
more tai year rag ago JUS. before the @ Sesinnng the the
'i % e ~ e e ne r Of
taxes unpaid current wants money We're more
Sa aid i with ny means and credit 20 large amSSnt
q The panic and have rsque1tiy since furnished fhe
such times aud in such way secure to il either
vs S m save We is ass ed q s
repay oysralaI!,, and am now one Of the
very expectedIy elected President with
Ias Braa sin
he SSn
Vice rresden, was charged with derelction OF duty
sn pnt II the Position which he va
oI indIree,y; have nad nsitasr SALARY, commissioa
Of my life in my personal business and n that which
n ny
into notice and not resrstns the which was
uniastifabie and exavagant claims which out Of
haeh Mhch partly account or his attitude
me n w Haa II s toa
and in the negative. IL was then asserted
W could @ AH ss0Se
shares aud at his request sent has Sroker 10 shares
which were my own stock purchased before the salS
ssssns stock: My means InissS: u SIspSsss S
r. ss Tor delivery '0d am IA Il.
NAY o. shs neoms many Sess to wS
price Which 'nsy can invest purchase
axsd price sold cal unless sciqsiiy the
with Ss dulles Of Doson n
Sustain the GSasy .na ae
Sas position wSch was placed BY reason Of Mr.
s sS ssa q
70 me b deterned e. MN NOT 70 accept again and in
srs utterly Untrue that begged or Tasn IN any way
not c nc ss U &
tor that s 1nd a no such wish In con.s
Ing was led believe that he was scsiss ~ =
ton with stock from which he was to derive
sSd q on hat po oh aud
S sss aTa a.
when he aa q IT, ,s g
him hst he likely q Be dependsns upon the com:
While my ocsS " wiz ~
he s
o al IN %s he to d n e
q The company Co Or ooaS
Mr. Haish explained that about Of this ,ndsSssa
the result OF extra work the steamers Pskna
This statement OF indebtedness then made BY him Wa
pS:s0
s a ss ssn sn maas s1s oa n
the stockholders 50 that each man might exactly
Connected Win an the nce ce%panS
ana Would h so"m osgn ne e
asS imprOvsd condition Of our means 10
!he advanced rates or doing business and general
our Sssvsd shas Would Ds SsoSy sSs 70 de
% N ns o
s sSSa ss
Of Mr Hatch were sndeayorns to create an amospher4
should fnd difficult exercise any good influence for
the company Having other large Interests attend To-
and with little inclination 10 be kept In contact with
trIgue, dscspuon, violence and bad management re-
signed have learned that Mr.. Alexandra has been
elected my successor. teei to be my duty You
here bear cheerful testimony Of full confidence in
him business man and as man OF integrity.
rience and capacity believe he can carry Into ef
feet his own ideas Of economy and management the
affairs the company he will be eninently successful In
promoting It's Interests He has my best wishes and viii
have whenever and often as he requires It my hearty
cooperation.
IN noble enterprise II mas not been rs successful -
the past - you could have desired, but satisfied
that with wise honest and economical management
your investments are OF value. That you may
peated and continued practical ation OF th
TACT u the sincere wish Of your most oDedent servant
RUSSELL SAGA
Let Us Have . Detailed Account.
NEW YORK, Dec. 5, 1s7A
To THE EDITOR OF THE HERALD