New-York tribune., 1874-12-05

Russell Sage advanced large sum of money. and ha
enabled tho Company TO remit 800 0o 70 the Bank u
California in order to keep ts credit good In tina, city.
largo nd arrivals OF coal aud the Company
had property In lieu Of but that the account had
been largely overrawD there could DO doubt
OF Mr.. Ssge's liberal action at the timc Tho pre-.
dency Of the Company had been offered % A.
perempory declined ~ accept IT, Affirming that BE- had
already too cares aDd could not nna"rtase more
himself THURSDAY. but be decuod 1t on the ground
thai his present nnsines occlIprd n, wn0s stbnhon
In to the financial cOndtOn o I'd" COMPANY MIR.
GuOn said that he could make 40 stiIen'nt q. precBs
tina the Company was seriously emDafrassed we're ua-
fGundrd. the statement IN yesterdays IBBUNbN Nass
be said more correct than thai OF otSer papsr
Fiancs Alexandre stated postyely that the Compsnv
was not financially emDarfasscd II has abod' Gco0s
building Before long this will be made available. A
days ago II had $4,000 IN Olnk Since The pfssnI
Board Of Managers b'Im1 operations year sgo lat
OGtoDer it mad had very heavy expenses 10 pay. 10
found ne business very much embsrrss,rd and It hai
hardly begins 10 tell yet IL "omh noe oeoy tht
,ne manasement Sad eren , eHTI'sstsS sas ,tm ,,Oi
own opinion. In regard 10 the eh',t a
ho recent change invoi'iGs li 90 .,rc,oan, or; s.
'hough that 10 was gen,r'ily looked pon as ttp "a
faone that Mr Sage sbould be Ten alone since b. .a
no longer a member ~ the Board. A. to- We pfop'li ~
OF further changes IN the m,n cement or hah''a', ,
-ly hat any would take place. I,o conoulDn ~ tAp
ud isTc ~ aud n had naidlg been ron eeonoYoa
as "A steamship line should bo run oeyefd 0 th' mad
feel that economy must b. lrnctced. Wu'b t1t iso
great ships tue IL kng aud the Toxic get 10 ronuDgo
the CHINA line, and when t1e new -hlps nIe u ,.rf
there viii accession 10 the revenue ~ tas
Company, Which VIII De backed Oosdes " "Ia'! sor
j. H. Talcott said that Il bad been determined 60 select
for the next President IL man Oi pra'ta eAPrfeheeIl
the steamship business and, II Pos'l"' 'nIy yp@ltf.
He must not be a mere hgureheai, Olt s)lhd piic.-
cal man. VINO caDnOt be ihIencrd In any way. II,
must also 30 man %ho WIZ rl ,,si
IN Waits. specuiatODs. II The stock "ctr eh"rrF
Withdrawn from the street Pae'1l Mail wouh Al olei
take higher rank. ana ~ soon ~ tbe sdl u
the Company was ITS stocks would 10 our o. IA
street. l. was a ply that sGSn great aIi,'ts,s
The financial condition Of the Company MI I'icotbe be-
leyed, would be shown to be bettet tHIu zoe oo''uIt
public within two or three days No Statement "hl
be allowed to before the puplIc uniil II hAs been
before the Board and ascertained 10 DO snoa a - u'st
that no friend enemy Of the COMPANY can tNL
to change 1t either TO the iIJry OF Tue cre o. 10,
Company. Mr. IaIcott stated iuftheI. tha' "ho" .-e
report OF the Committee Of AuCit was tcnderu "h p
49, submitted serfqtun'to al the mem rs VI 20
Board, beginning with Mr. sag, anu "eJ ~'as @
individually asked whether they XIV OI any
claim or obligation Of any kind exiting aSli-'s
report, and they all replied in the hegstyr
Tho report was thus accepted Nv every mo-
Der OF the Board. subsequently, the t"ii,oI.'ai
OF this report called IN qlesloa Oy 'n. OF taY,' 80
had indorsed" IT. hut upon examination tIe oy tior
In the report found to be In the statement o "s
amount OF paid winch was taken from ihc oO0AN
the Company. TIE other items or error chhfE dRAss
the report gre the bills incurred Tor altratol.
and improvements CT the steamers Ciy oi klIs ani
made and this fact admitted on Inur'day ny mo
member questioning the report. MI lalr"it thouEht
mount 10 81 OOD 600 The puoli-heh m ili,
TRIBUNE Mr 1Aico't pronounced to be suFpr's' eof-
PANAMA RAILROAD INTERESTS.
In conversation with TRIBUNE reporter last neat
Trepor Park said that the resIgnation OF Mr. eags
from the Pacific Mail management had not In the eass
affected the Panama Railroad or its relations to hs
Pacific Mail Steamship Company. In their interesn
they are entirely separate. and change n the seam
ship management coud an'ct tue rar"ad > 'e r,namA
Railroad depends on the trade or toe oOptn AneffAn
countries aud the entire extinction OF the Piclnc Mal
| line would not affect that. IL tne 4'ef
should withdraw all is sIlp', nr f-ik
steamers Of ts between New York and AsoIn~lN,
and Panama and Francisco, II having not 0aP Le
capital but the chartered au horty 10 GO So MI FAa
laid he had talked with Mr Sage. but the latter hst
said nothing about resiening from ihe PtnAna itoad
Company. Mr. Park had no doubt he wOull 90 50 uoW.
ever as he considered hIs position such "a harY TO
admit OF any other course. The Panama Director feei
taken either by them BY Mr. Sage. Tuey Will pro o.
bIy meet on Monday. when the mater WIZ be 'a
the crisis In the Pacific Mail management came. and 10
did not speak OF the merits Of the cas-, 'c; b,
considered the affairs OF that Company To bo IN dea
better condition than was generally supposed
ARRIVAL OF RICHARD IRWIN.
Richard Irwin. the former Agent OF the Pacific NAH
Steamship Company at San Francisco aud now I'D
prospective China Agent Of the Occidental and Oriental
steamship Company OF California, has arrived IN this
city, and about to to tho SUIT brought against
hiu by the Pacific Mail Company II Will be remem-
bered that during tne Stockwtl administration IlSa
was sent TO Washington To obtain subsidy. IL kent
open house Ia that city. and his bo,pitdOo 'E0tis
were well rewarded for he received tie SUBSIDY
aud returned this city. After the sage adm'nsra'n
fairly Installed the new directors discovered checs
for $4,000 bearing lrgiu's ina Tsctnept. Regarding
this rs pIima face evidence that the Company hid
been defrauded of this amount SUIT was broseh,
against Irwin recover 1t. IL alleged 10y tLOse
famil with the matter that MI Irwin had ,Apendrd
this amount for the benefit OF Member, of Coa
gress IN return for the subsidy. lnis was MT
satisfactory the Sage board, ami tnsy
declared that they would press the SUIT. Irws return
has revived the matter aud II Is asserted by tLue "o
claim know that his defense Will Ue that hr used AIS
money to procure the subsidy, and that this beiuga
palpable violation OF law claim for recovery az
stand. In short having been employed To corrupt es
laora this action cannot be sustained. As sOou ths
matter Is settled II Is expected that Irwin will cote
China II irwin to tell all he knows concerning
congressional corruption, alleged that his reye
tlons would rival those of the Credit MO0uier.