New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-05-26
PRICE FOUR CENTS.
ON CHANGE.
PACIFIC MAIL OPPOSITION.

PACIFIC MAIL OPPOSITION
INTEREST INCREASING IN THE ANNUAL ELECTION
CLAIMS THAT THE COMPANY Is NOT MANAGED
EXCLUSIVELY IN THE INTERESTS OF TIE STOCK
HoIDERs-AN OPPOSITION TICKET.
AS the annual election for directors OF tho
Pacific Mail Steamship Company approaches, the in
teres on the result There have been numer
complaints that the Company has not been
aged exclusively in the interests Of the stock
holders, but that 10 shape the course OF tho
stock the Exchange has been the principal object OF
the active members OF the Board. This feeling has
crystaized into actual opposition 10 several names
proposed for reelection meeting OF stocknolders who
desired to be represented by directors whom they
trusted held at lower Demoneo's yesterday. Abous
$1,000 shares OF stock said TO be represented
h. Talcott called the meeting to order and said that
II was tho outgrowth OF an Informal meeting held ON
Friday consider for the protection OF
the interests OF the real shareholders. committee APP
pointed at the preliminary conference had called upon
Managing Director Hatch Of the Pacific Mail steamship
Company and made inquiries In regard TO III,
ticket which the directors proposed TO put for
ward. Mr.. Hatch had told tho committee
that they had made the following nominations: Russell
Sage George 8. Scott. Trenor W. Park Mr. Guon James
D. Smith, Rufus Hatch, f. A. Alexandra aud Charles j.
Osborne. One had been left, which vas pro-
posed that the stockholders should I'll. Having thus
made the report OF the committee he asked that they
be discharged and the meeting organ regusr order.
This was done by the election VI F. L. racot, Chair
man, and Charles IIagarten, Secretary Mr. oBnen OF
the firm Of william John OBrlen said that he repre-
sented shares OF actual stock held by persons who
had bough. the stock long ago, had refused
high prices. and had been compelled To
witness tho depreciation OF their property.
Representing large amount OF the stock he ca'msd
the right director on the ticket lie would
therefore that the vacancy the directors ticket
be filed by the nomination OF Capt. John Reilly, re-
tired business manof wealth and integrity who woud
represent the stockholders and serve their interests
alone. He added that the name OF Mr. Reilly had been
suggested to Mr. Hatch but that gentleman positively
refused to nominate hun.
Waldo Hutchins said that there wore names on the
directors ticket he would vote for. Some me
ago he had received report signed by Russell sage tho
President OF the Company which demonstrated that the
Company on the verge ofbankruptcy. Recently no
had received report signed by Mr. HATCH the Manas-
ing Director which went to prove that the Affairs OF the
Company in aourshing condition. One OF theso
reports must have been wrong. What was waited was
Board Of Directors who would look after the interests
of the Company uniuduenced by Interior eonsldera-
tons He concurred In the high opinion VI MI ReIly
and recommended his nomination.
Mr. Reilly was then elected TO nj the vacancy on ths
directors ticket. Mr.. 0'Bren sud that some HeopS,
WHO were interested believed that Pacific Mail -hoGd
sell at par and pay es 'ead , o r,s,ne on
Companys ticket he would propose Ia heu VI 'u' 'sAos
Russell sage. Rufus Hatch F. A. Alexandre, F L. Tai
colt. John Reilly. o. h. Burroughs, George :, Scout
Trenor W. Park, and NJ. Guion OF Williams Guoa
Messrs Bradbury and StebDins having retired rom
the field the only change IN ,he rrsnlr v t we,
d. smith aud Charles j. Osborne, who were charged
with working IN the lnterest Of jay Gould some ono
firm OF whitehousc Co. said that he was from orleans
County and would be found worthy and c1p'pIe W.;
shirley proposed that the name OF r. fo L. R NV
on tho first regular ticket. lie loloNsj
up his proposition with the statement that 10 OWL
1900 shares OF stock aud represented DOW more. he
desired to continue the administration OK the present
Board aud praised Rulus Hatch for ms successful Ell
axnressed desire 10 remain In Office more and
complete his work MI Hatch hhd l2No shares OF
70 make the Company a success financially The
speaker favor OF letting Mr. Haich CONTINUE ms
efforts TO redeem the company ana fe1QVrr u Possoe,
his lost fortune. At the cOncl lson OF ms address lie
admitted reply to questions that was al MI ia',hs
suggestion that ne prOposeu inc suOsu'ut"h VI "''
TlcOtt for John Reilly. ,,-.,
The proposition bad little effect. "a the stockholders
expressed determination 10 adhere 10 tbelFOWh ckrt
Mr. Hatchns said that lac had seen from the tomPl!
report that the Company owned 5000 shares oi us own
stock being part OF tue 10000 shares surrendered by
Mir stock yell In settlement of tho CJmpany'- claims
against hun. lie wished to know what had become VI
MIR shirley said that he did not know but II was Tu-
mored that IL was IN iu envelope Ia Tue lon'an.
safe, IN the name OF Russell sage, President Mr.,
o. Brlen SAID that the stock tue OF Russell
sage. There considerable apprehension That thls
to carry the election, aud Charles Ha,l'
garten was appointed committee 10 aslet'
come OF the 5000 shares and In whose name they had
stood past 80 days. vote OF thanks was ten,
dered to Rufus Hatch. Before the meeting ADJOURNED
many OF those present forward aud subscribed
their supporters vi the stochhoid,is teAe''
They were as Iollows
William & John o Bren "a 500 shares James struth-
ers & Co., 800; III. Cassidy 100 j. H. Buruham ~
Marx & Co.. 400 Campbell & Richmond so; WbiH-
House a. Coz 973i WhItehOuso Geo. lprOxes), 5fU j.
ClaybrooK, 200; Thomas Owen, 200 = Hart lDi
=. 1000; -, 1909; Wellington * CIapp, 7Wi -, wv
T.lrnft Il sons. 40