New-York tribune., 1875-01-13
LOCAL MISCELLANY.
FINANCIAL FEATURES.

FlNANClAL FEAIUBES .r..n
PACIFIC MAIL DEVELOPMENTS = wrrHpRAwAL or
THE RESERVATIONS or THB DIRECToRS-THH
LAKE SHORE DIVIDEND INJUScTIos-wEsrERS
UNION POLICY.
"COnfusOn worse cOnfOundedn appears To
reign in the councils Of the Pacific Mau COMPANY.
After the positive in which the mercantile
directors OF the Company rendered their resgnstoDs
the day 1t not considered possible thai
they would return to the Board. yet was distinctly
and officially announced yesterday that the resgnahens
had been withdrawn. Inquiry OF President Alexandrs
elected the Information that tho three reform
members" Of the Board had been con
suited by the other members OF The direc-
and requested to withdraw their designations For
the present their designations would not be presented
but their would depend largely upon the action
OF the other directors. Mr. Alexandra did not believe
in having tho majority Of the Board composed OF Wall
At. There should be balance OF power some
where. His return 10 the Board would depend upon
certain arrangements which mus, be made What these
arrangements would be he would not tell IL s gener-
ally understood however, that the principal stipulation
Rufus Hatch should either retire from the Board
or least shall be shorn Of his power that he Wal
not allowed obstruct the efforts OF the efficient and
well meaning members. On the other hand 1t Is known
that when the indignant directors rendered their re-
signatIons Rufus Hatch took the document from the
Secretary alleging that he himse was the only exec
utiye officer remaining he was the proper custodian OF
It, He put 1t In his pocket and intimated that there
was a probability that ono member or the trao
would not be allowed TO return. as his resignatieo
would accepted At the meeting of the Board In the
afternoon. however, it was stated that the three
directors had Withdrawn their designations
Russell Sage has not yet sgnfed his acceptance OF
the position OF director although strong influence mas
been brought to bear upon him to stand by the properly
In view Of the unexpected withdrawal OF the resgns
tious the directors election was held TOR
prea nd Ia
ttOns will be made.
Next In Importance to the developments IN Pacisc
Mali was confirmation OF the report OF the Lake
Shore temporary injunction restraining tue payment OF
the dividend In February The order is retUtnaDie ON
Monday and the matter will then cOne up Tor argumens
before Judge Tappen, in Brooklyn.
1t was announced the street yesterday that Gen.
Eckert the General Superintendent OF the western
Union Telegraph Company. had resigned to acceps
the same position the Atlantic and Paclnc Teie
graph Company, and within FEW days was to become
the President. Sidney Dillon, one Of the principal
directors Of the Atlantic and Pacific Telegraph Com
pany said that Gen. Eckert had not yet assumed any
position the latter Company that the meeting fof
the election President had not yet taken place. eus
would probably within few days, when tue
names Of suitable candidates would probably be pre-
sented.
Mr.. Orton OF the Western Union Telegraph Company.
speaking with reference to the acquisition OF the Great
Western Telegraph Company by his Company, said that
1t was only another telegraph funeral at when the
Western Union had assisted The Great Western was
of no especial magnitude simply embracing LOCO miles
OF wre to enter into the details OF the
terms upon which the Companys wires had been
leased
The Directors OF the Toledo, Wabash and western
Railroad Company held session yesterday 10 consider
what means can be adopted TO raise the money neces
sary to pay back the bonds aud the interest,"
due Feb l. It's understood that proposition VIII oe
made for the creditors OF the Company to buy enough
new bonds 10 give the Company the necessary FUNDS