The New York herald., 1875-09-18
WALL STREET NOTES.

A GAME OF TRICKERY ExPosRD-A LETTER OF
JAY ooULD's-TuE ''pRIvE" AT PACIFIC MALL
WHAT A DIRECTOR AND A TREASURER Say
POOLING" RAILROAD EARNINGS.
Yesterday HERALD representative waited on an old
and respected ex-drector Of the Pacific Mail Steamship
Company, and the following ''bearish" statement
elected from hip, the words being taken verbatim
The HERALD information in regard to great property
being sacrificed in enrich few speculators Is
correct win give you few facts when was in
tho direction few months since with Mr. Alexandra,
the President, and Mr.. Guion-both men being largely
interested in steamship property saw enough to CON
vince me that the company was in danger Of bank
ruptcy. Mr. Sage at that time in the direction,
measure of corruption and extravaganza proposed by
members who were supposed TO be
INTEREST OF GOULD.
We contended that, matter what done in the
stock market there trustees protect the in
teres OF the stockholders and that we should rather
build up than tear down Against this view we had to
combat the views OF about four directors who declared
in effect that freebooters they could play with the
company's property, and make their statements and
reports in with their private interests It
is needless to say disguised l had advanced
money from private fortune relieve the companys
vessels from detention and advised with my coadutors
the best plan TO pursue The claims OF John Roach
were becom ng Troublesome and the floating debt of the
company increasing every day. At this juncturo
Mr. Scott TO and intimated that a capitalist
ready TO advance the money help Pacific Mail
which should save the company from bankruptcy de-
manded, however, 10 receive the proposition in black
1
[Orignal shown.l
Prs 27, 1879 SIS Fifth Avenue.
GsnrEmrSI am in receipt Of your favor of this date in
reference 70 tho affairs Of the Pacific Mail Steamship Com
n taxing hold Of Paciae Nah Company he fsc-amoss
sefevident-that harmonous and strictly equitable ar
RaOsd viii add ysry G largely Oh. prS Of both
am therefore willing to say to you first that will see
the company through financially and second that such
roads and Pacific Mail as shall be strictly and mutually profit
fully you ' your jay GoTI1
Now what induced Could 10 propose this union with
Pacific Mal' | will tell you He had bought Union
Pacific Railroad up 10 figure where IL would have
bankrupted him in case Of an accident BY control OF
DAY or RErsIBurIoN
would be postponed. thought the offer was made in
good faith relieve Pacific Mail and rendered my
resignation also did Mr. Guion and Mr. Alexandra.
What the resultS Mr Gould played fast and loose
with the company, and to-day it is nearer recever's
hands than ever before. quote the Tribune OF
September S-'The Court rendered judgment against
the Pacific Mail Steamship Company, for taxes Of 1874,
Of S1579s6 so There is about $400 900 floating debt
in Wall street and in the banks Mr. Roach, who is the
largest creditor refuses to deliver The steamer tho
City OF San Francisco until his claims settled and
history repeats itself in showing that Jay Gould never
touches anything but what he 5lghts.
The HERALD representative during his inquiries found
the OF the company who corroborated
the above story and added ~ not surprised at the
condition OF Pacific Mall was sent Out 10 California,
but found affairs in such rotten condition that my
port was suppressed and to this day hss been
given to the stockholders Mr. Cox, the efficient and
faithful agent Of the company in San Francisco, has
been superseded by Mr Bacon the plea Of reduction
OF expenses I prove that the expenses Of the
latter almost double those OF the former agent.
Mr. Houston, who is talked about
manager In place o.; Mr.. Scott who contemplates
signing a third assistant engineer in the United
States Navy and viii probably DO the dgurehead when
Pacific Mail goes " the wall
THE LATEST JOKE STOCK MARKEr
ln connection with Pacific Mall u that told Of Mr.
Gould and his two confidential brokers, Charley" Og
borne and sam" Mills Gould had been invited TO
witness the yacht between the Mohawk and Made
leine Ho accepted. AMER his 'side parners' bad
started he teegraphed word he could not 20 the
bay. When his friends home In ths evening they
found their oces nlled with Pacific Nah at about the
highest prices OF the day is needless 70 say some
lively selling was the result yesterday.
RARNISGs
II said yesterday, would be 'pooedu with those
OF NchgRn Central and Fort Wayne Mr. Jay and Mr..
Mccullough la the city and q conference took
place in tho St Nicholas Hotel in regard the matter.
Mr.. Gould personally promulgated the on Walt
street. ana therefore Only limited degree Of condolences
was expressed in the announcement "After all saie
prominent speculator 'they pool their earnings,
when nothing is earned; but Is anything said a6ort
dividing losses and expeascsY"