The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-02-03
MORE or JAY GoULD,s DEVICES.
How he Played with Pacific Mail and UtiI-
lied hts stool Pigeon.

How he Played with Pacific Mail and Utii-
lied hts stool Pigeon.
To THE EDfroR OF THE SUN Sir: Tho
violent attempts OF JAY Gould's newspaper 10
throw mud over various ptrties who have been
connected with Pacific Mh, aud to ss'ribo the
low lnanci | condition Of that company to their
Vaccinations, are very uIhiile.
The secret OF the Tribuucs policy Is TO attack
everybody aud everything connected with Pan
ANA. In order that Uouli may be abs to buythe
stock at a low price, and thus retrieve hts wan
ing fortunes Pacific Mail aud Ulion Pacific are
wholly deDendent on the success of the Tribune
In this onslaught ON the credit of Panama and
Its supporters.
A. the Tribune is so earnest In its efforts TO
obcv Its proprietor, and insists that the injury
to Pacific Mail IA due to the criminal careless
ness Of Park and his friends, II ~ be- well to
And out who has really reduced the concern To
its present condition.
Everybody knows that Gould broke down the
price OF Pacific Mail from above par to abo 1t -
when Stockwell bulled II up To the former nl-
ure, This action OF q lulds 8, he knowinf that
Stock we'll was using tho bonds aud stock be-
longing to Pacific Mail as maryins to sIsI ain
the price, was the lrst nail In the oolin Of the
company.
After stookweli had parted from tho control,
sustain the company aud TIA credit; but Gould
again put his bearish Drocliviues into operation,
and, aided by a combination OF clrcIm stances,
forced down prices and Obliged Hatch and his
clique to unload. All this time Gould sold
Pacific Mail down, upon the knowledge that II
was intrinsicallv worthless, and that II would
re illzc but small sum II sold out under the
hammer. These attacks upon he credit of tue
corporation continued up to 1874.
In the sprng OF that year. when the street
again took hold Of the stock ana pulled II,
Gould attempted to orin9 about an investiga-
ton into the affairs Of the company at Alb my.
His EXPRESSION was "Tne concern Is as rotten
as punk, and ought to be examined and exposed
by a committee OF the LEGISLATURE"
1t was not Investigated but an attempt was
made to that end. Gould drafted a few resolu-
tions TO be adopted by the senate or Assembly,
which read something as follows:
Nae cas- The Directors OF the Pacnc Mali steamship
u nsr Sy dc Sasa cp as o o. al &
ranv Of t134221S727 thereby leaving tue present capt.
further alleged said dedci. has to large extent arisen
from improp,f ana SaIteiu Sapend'Gtes and stock
sno p%riicaisrly that about 100000 has been ssen
pose cf innueatns the socaiei su6siiy OIL and otr
essa.Gp ana mr. %se,es I ~ hSrtner segsS 'ss.
old and unseaworthy, thus enhanScr1ne the lives VI
Resirei, That II be referred TO - Committee to
Inquire into the Wtthin open charxes, with power 10
scld for persons aad papers, and that aid committee
report with poSDle 'spttcn tha eyd nee IN relA
'2q s Of d company
has oeen Impaired and, 80, whether and TO Whit ex
tent the same should Oe reduced.
Second Vine her any part Of the iunds % such com
eompany, or any OF them f@e aay eSrrag, or egA
whether ana what steps nave o"en taken 10 recover
many OF them out Of repair ana In an uns ,aworthy
condition, anu said committee may reply BY oil or IA
erNise.
Pacific Mail IL incorporated under the laws OF
the state Of New York. Consequently the State
Legislature Is empowered o ex anime into he
al ,irs Of the company, and TO legislate for its
honest MANAGEMENT. The attempt filling to
induce the State LEGISLATURE to aot upon the
suggestions of Gould, II was necessary, ownr
To the lateness Of the season, TO bridge OVER the
summer months aud wait uotil the next winter
In order that legislative action IN git be invoked
to dam ige the company.
This time Congress- was called UPON to inter
fere. Richard Il. Irwin arrived In New York,
and the press was duly Informed Of his advent.
Irwin had discussed tue corruption fund by
which the Pacific Mail subsidy was secured In
Washington.
The Tribune, az usual, obsdieut In serving
Gould, published his statements, ana called upon
Congress to clear Its skirts IL may 1onjectured
that the tribune cared little whether Congress
cleared or smirched its garments, so long as
Gould carried his shorts" In the stock market.
The agnnizn0 howl attracted the at ention Of
the nations representatives.
Irwin was ptured with a great display OF
force and carried on to Washington, where he
for some time WAS imprisoned. Before he LEFT,
Gould was frequently closeted with hin at the
Hoffman House, snd Gould's ATTORNEYS advised
his movements. Irwin was trotted about at
Gould's dictation, and held up As the champion
eXposer of Official corruption.
Tue resolution under which Pacific Mail was
examined only related To the procuring OF the
subsidy, and the financial con Hilton of the con
Germ not inquired into at all.
When Gould had covered his shorts, and got
long OF the stock his agents helpel Irwin to es-
cape from the country. and thus avoid the suits
which had been commenced against him 20 re-
cover Whatever portion Of the cImpany's money
was stll in his posse 'sion.
Gould, loaded up with a rotten stock. did not
care for further inyest gation, and the departure
OF Irwin Gained down the excitement which
might have led to an examination OF the com
pany's financial condition.
1t will not be difficult for either an outsider or
Wall street operator 60 decide who is responsi
bio for the misiortunes of Paciac Mail.
STIRABour.