The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-05-24
Thu PACIFIC mail fight.
Panama Wins and Mr.. Park An
nounces the Victory.
EXCITEMENT IN THE STOCK MARKET.
! furious Correspondence = The
New Ticket.

bears have taken sides either with Trenor W. Park aud
the Panama Railroad interest or with Jay Gould and
the Union racihc combination. The courts have been
kept busy in the interest Of the other contest
ant injunction mandamus have been almost daily
issued and the stock been the reignng sensation
as well the football Of the Exchange spectators
Yesterday, however. all uncertainty was dissipated in
regard the victor by the meeting which took place
the company's Office this city, which quorum Of
the directors Impossible for several days procure)
was present, consisting OF the following persons:
George Forrest. James D. Smith, Charles j. Osborne,
Rufus Hatch, and Captain Riley IL agreed ut this
meeting that regular election Of directors should be
held the 3lst Of this month. and that tho books
transfer should be closed Union Company
on the 25th instant The inspectors OF Election APP
pointed we're Mcssrs p. C. Van Setback. VIM. +. shr-
ley. and Lawrence X. Jerome, General
q. N. Dodge, John c. wyman, and John +. Alexander
That quorum was present at all was conceded 10 be
TRIUMPH PARTY,
rs they hail. under the leadership OF President Park
persstently fought tho Gould inside rhc
"streel" alive with excitement. and the
stock shot up several per cent upon the above
nouncemcnt
HERALD representative visited many OF he parties
interested, and their views will be found OF One
of the Oldest Of the steamship company directors told
the writer that the position this The CIydc-P
party have defeated jay Gould alter Of the
fights on record by securing majority OF the stock.
Gould subbornly resisted this, only by free pur-
chases but by cvory trick and device known that
spccuiaIor. Now, he does much be
beaten he docs to have it published for like the
politician who said he did not mind dying. but hated
be laid out, Gould disIked being aId out ana
he has lost In this great deal Of that prestige
which is SO valuable to operator who desires many
followers When man has many schemes which
the pubic can either assist by Withholding their
support or giving Il, Il " II readily be what
ieat the termination of this Pacific Mail been
TO him. Now, Gould has hitherto opposed any attempt
10 hold an election the plea that tho present
directors must be guaranteed the payment
of certain they had advanced to the company;
but the opposing parties aware that tho
dsinteresed capitalists had secured themselves by an
Issue OF s2,00o,0U0 of bonds at nifty on tho
dollar, and they very properly demanded 10 see the
books Of the company, to know what portion was
honestly charged 10 tho steamship company and dis
iraudu ent and cxorbitani. the case
now stands and tho Clyde party 20 into power they
will audit all claims pay what just cancel the
bonds, which never should have been issued. After
possession OF all tho coinpany's effects no doubt
entire harmony will be established beIwe the Pacific
Nail Steamship Company Panama Railroad and
Panama Transit Company II the Union Pacific Rail
soad Company should attempt 10 reduce TO
attract business over the Continent Mr. Park aud his
associates would doubtless be able to meet tins
successfully MS they met the last What Is known
the Gould party in Pacific Maibcsides that gentleman
hmscll-conssted OF Sidney Dillon, q. L. Huntington, |
Charles J. Osborne, with George s. Scott, now IN |
Europe, who has given them at least negative assist
anec by his absence. When Gould and his friends,
by trick got possession OF the Pacific Mail Steam
ship Company last year the stock selling in tho
neShborhood OF 10 and il may be well To reproduce
here his letter to two Of the directors published cx
cusivcy in the HERALD at that time. When
pared with the present correspondence published be-
low between Sidney Dillon ana Trcnor W. Park and
the price of the stockA27-it win be how
Mr. Gould came to seeing 'the company through
no famous letter Ot February "a. 1915
! rs folows:-
tikSrLRaKsI in receipt of your favor OF this
70 the affairs Of the paehe Mail Steamship Com
"a taking hold 81 rasihc Mail Company almost
y, between that company aad the Union Pacific
aiss while public viii be quite as 81 issetors served
a ,r"ss 10 lay :. h. . viii
ne' sa be mads between the Pacific rasds
Thanking you confidence remain yours respec
In view o. the following correspondence. tho above
note seems like n delicate piece OF satire
SIDNEY pLLox- 70 70 fistSug>-x. PARK.
r fS 80 NAL sfn.Msnir coxrAsY Ma,s2a 1870
InnSon W. rA"k ESQ. President Panama Ralf2ad Com
ps.a sE;-6 yourself and associates
and in.smag company require iams'
Si.ies we propose ,ns you a",,se 70 pay the tn
.onpnny surrender 70 81 the eoa,s,as held BY
sam Of the direction Of the company u yon desire
paper and we will do what We eau 10 aid In this
this Is factory 10 you would like to finally close The
TO D sSs" Fs s"n'
I. W. PARK SIDNEY
PANAMA RAILROAD COMPANY May 81 1876 /
SIDNEY DILLON, ESQ.,, President Pacific Mail steamship
i sahp to
company coming eles.ion Nay 81
:" assp. s ." ss ga s @ they ss
r days when persuaded stockholders woaid
'ns% Ss ss snsrs max. .sS Sea sy
port the stockholders provided by the by laws Of the
also directed g assure you-and do assure ysu-
elected the liabilities Of the conlpany will be PROVIDED
Ing the management OF the company protect Its
cur gas sessa @ you and as
delay latter the election ~ paid in cash good
We ;rS.s si
anna Transit steamship Company the overland railroads
win act in harmony and fsr 81, best n,sesss Of all said
Mr. PARK visited his Office by HERALD rel ortcr
ana favored with the following expression OF !
opinion Ill want IL TO be Understood that has
authority TO speak for me- controlling my action
In the late Pacific Mail complications but myself IL /
n square light with jay Gould anu beat him.
When he is beaten he generally resigns, but resgna-
tons were not IN order IN this case. don't wish to
working with US but have undcrstood that certain
party al the Windsor Hotel announced that be was L
making the hight ~ the courts could control me and
she HERALD the ticket that VIII be elected May 81
and think you will neither ud the Of the party
Indicated or my own upon IT. 1T 10 better 10 be tho
king maker than the kinR!' Hero the ticket aud
shink Pacific Mail stockholders can trust 10 It
honest aud capable onc.'
TICKET
"Charlcs @. Francklyn agent OF the Cunard line;
Henry Hart. vicc President the Third Avenue Rail
road Company; Samuel G. Thompson, President OF
First National Bank; Andrew Boardman attorney at
Law; H. Quintard, manager Philadelphia aud Reading
Coal aud Iron Company; William 4. Clyde oil Clyde
line steamers; c. II. Mount, dry goods merchant; II.
X Thurber grocer Jeremiah Mbank, old Pacific
Mail stakeholder Mr.. William 7. Clyde viii doubtless
be elected President OF the company
member Of the stock Exchange showed the writer
letter from member Of the Committee Ways and
Means in thc House OF Representatives. In which
uaird that secret influences at work that
lic investigation OF the Indebtedness OF the Pacific
railroads should be DELAYED abandoned but that tho
eommitscc were all stanch, men, that
possibly Mr. Gould fears defeat in other than Pacific
Mail matters, and this Tor the dcpafture