Arizona citizen. [volume] (Tucson, Pima County, A.T. [i.e. Ariz.]) 1870-1880, 1876-07-08
The Arizona and New Mexico EX-
press Company's Failure.

We announced last week that this
company was in financial trouble. Since
then it has entirely suspended business
and Mr.. Stone and wife with the wife
of c. II. Wells, have left via the old line
direct to San Diego. We believe Mr..
Stone was in charge of the books of the
company and Superintendent Wells
has been absent for several weeks. Mr..
w. \. Woodward, express clerk in
Tucson, is still here but without any
sort Of direction from Mr.. Wells since
the failure. Mr.. Woodward says from
all he can learn, the property of the
company Is ample to pay all its debts
and perhaps something more, but at
this writing, the whole business seems
to be drifting along and each creditor
protecting himself as best he can.
While it is perhaps useless to speak
of the causes of the failure, it may be
in place to say the chief one was a lack
of business TO correspond to the costly
establishment and expensive manage
ment The company had no mail and
in the very nature of things Congress
reducing appropriations could get
none before July, 1873. Much of the
routes traversed by their stages was
already occupied by others with mail
contracts. Opposition was natural.
1t is idle for any man of business to
say that he would have avoided sharp
opposition, no matter which of the
companies he managed. Business did
not increase as Mr.. Wells seemed to
feel certain would be the case as soon
as his superior coaches and facilities
were given the public. In February,
we saw that he had largely overrated
the demand for the facilities his line
offered and vastly more the increase Of
business to follow, and frankly told
him so. He is an active man with
many qualities Of an eXpressman, but
he very greatly misjudged the situa-
ton. He was so enthusiastic that he
seemed to take it as a species of enmity
or opposition to be told the truth when
it was unfavorable to his hopes or judg-
ment. Notwithstanding the quite rapid
influx of population to Arizona and
increase of business within the past
few years, he wholly misunderstood
the growth Of such Territories as this
and New Mexico, and we may say all ly-
ing between the Sierra Nevada Noun
tainS and the great Missouri Valley. His
error Of judgment led to a premature
formation Of too costly establishment
and by far too expensive management
Long ago, we told him in effect that
we regretted the Inauguration of his
company as it was done, simply be
cause it would fail; the stockholders
would be DISAPPOINTED and be apt to
wrongly md fault win the Ter
rltory instead Of their unfortunate selec-
ton of organlzcr anu manager The
line was put on in creditable shape. It's
patrons were many, and in the main
pleased until near the close. We shall
know more Of the extent of its llabili-I
ties and assets ere long.
Whatever may be said abroad as tol
the causes of the failure of the enter
prise, our statements are substantially
full and reliable. The Territory is.
as prosperous as any well informed man
and cool Judge would have calculated
upon. 1t is not the first failure occa-
stoned by errors of judgment and man
agemcnt, and no one need think it will /
be the last. Temporarily, the influence
of this failure may be bad as Is the
case with all failures, but it is nonsense
to say any permanent injury will fol
low because of it.