The Hawaiian gazette., 1876-07-05

A. length, after years Of mismanagement and
Eseculative trifing with Pacific mail stock which
hrgaEht L 70 the verge Of dissolution the affairs Of
that Company appear 70 have been imbued with fresh
strength and vitality which give promise Of radical
cazrre il iis condition and prospects The DAYS Of
1he StuckHel and Gould tribe have come to an
Hhrurt canclusion. The vctirzed stockholders have
coucluded that making fancy stock Of Pacific Nail,
manipulated ty bold but reckless gamblers, how
ever uocd for their operations, Is not just the right
way % manage for magnificent line Of steamships
virtually Ia possession Of a lucrative trade on the
Racifc Ocean, and with prestige that only needed
executive and administrative ability 10 its per.
uEnuui success and mastery. Dishonest men resort
dishonest practices naturally as ducks take to
The water. The attempt 10 procure Congressional
Hid by corrupting members sufficiently indicative
thzt the Management in dishonest hands and
That Tie Interests Of stockholders would be as
Hale regarded those q outsiders when convenience
prompted. The line became 4 nursery for impecuni-
cousins. nepheEs. sons-in law and other DEPEND
relations while the land positions at the different
agencies filed with clAmorOus applicants from
NeW furk. 90 the exclusion Of able and experienced
Who had devotel years Of good aud faithful ser
vcc 70 the Company Although principal seat Of
business in San Francisco, requiring the active
fuperlnisndence Of capable gentlemen thoroughly
ETpusciasinc ifs needs for future Development and
The proper means Of supplying them. the Company's
hc4aQuartHrs have always been in New York; remote
from TIE grand theatreo operations and directly in the
rorrux q those Wall Street gambling fascinaons that
highly popular line from existence. We are glad to
learn that the Company has to a sensible reali.
.aou q The danger IN its and that the order
las teen riren % - bout ship" 1t appears
thHt fuicudlF alliance has been concluded between
tbe fac1c Mad Company. the Panama Railroad
Company. and tia Panama Transit Company. They
hare agreed % brry the Ratchet and work together
tor JOINT heDst. lille admitting THAI opposition is
IA lie q trade. il is not lass apparent that eomb
nEtcE Of these several iotRrests will enable the par
ss - provide better. regular, and cheaper
Nicss thAG Il each were struggling for its own az
rHneenent ty endesvounng 70 destroy the others-s
candiion q thiugs which furnished assurance Of
regular dependable service steadtAEtness in the
achedule q Charge.
A1e business community vas eteTnally groping in
ne eIrts wondering what the next change would be
HEa eosbtui how long IT would endure One Of Abe
ost assuring erideuces Calif0rans that the Com
pay has dsio-nined 10 avoid former blnnders, and
shaFe neg sod ssoep;sble course. IL the appoint
l1snt g ne vel known and hOnOred firm Of Williams
bln1ranrc 4 Co.. q this city as its Pacific coast
AEsuts- This appointment win impArf q rsneEal Of
eettoe1oe. and serve 70 impress our business men
"a Ia conriction thai the companys sGairE here
M ent wiz be managed with sbiiify and that strict
IeEAra Tor commercial pr0bty which is btst eslel-
nied 70 relieve stockholders Of the uneasiue 70 they
bare ezperisaeed for Eve or six year,