New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-05-15
APACIFIc MAlL CONIEsT.
EFFORTS TO DEFEAT THE PRESENT MANAGEMENT
"EEFORMp TIrkET REING stLECIEn.

EFlDNIS TO DEFEAT TIE PHIrENl hANAbEAlNl-
"EEFoRM" TICKET BEING SELECTED.
The thirty-frst annual election of the Pacific
Mail Steamship Company, which will take place May
%. is expected 10 be unusually exciting The oppo
ueuts OF the present management arrans
ing a list Of directors be voted for on
Reform ticket" stakeholder who favors
this movement said yesterday that the purchase
Of the Panama Transit Compauys steamers by the Pa
chc Mail Company, for large amount, had entaied
burden which the latter company could III bear. He
claimed that the general management Of the Pacific Mail
had disappointed many Of tie stockholders by ~ cx
travlgauoc and said that was proposed 10 effect
u change at the annual election.
It's understood that the Reform ticket will contain
The names OF d. $ Babcoc president OF the Providence
and stonington Line; Henry Hart, now director
OF the Pacific Mail Samuel J.. Philips, president OF
The Third Avenue Railroad; Edward Whitchnuse.
prominent Broadst. broker, aud others The ful ticket
yet been selected the matter being IN the hands
Of committee. The friends OF the Reform movement
occlrl that they will TO compromise except
tine basis OF u, Justice 10 TIE stockholders aud mate
rial and permanent reduction m the running expenses.
Henry Hart has taken an active part IN the movement
He has been director OF the Company for several years.
and owns large amount Of stocS lie said last evening
that tie heaviest stockholders wanted change. They
had no hostility against Mr. clyde who Il President
bat they believed that the company could he CARED ON
more economically under new man cement IL Is
my desire" Mr. Hart said, u have ia" company So
or not know mat We can eNpecJt 10 pay dividend, very
soon, but hope Tat IL may become Ut sufficient
value for capita i-ts be ashamed to bold % ~ tie
own name. The running expenses should he made as
low az possible aud the debt ruuuld be paO fast
possible. The purchase Of the Panama Transit Com
uluY's ships has rd us Of powerful rival WeuOw owe
money only to the Panama Railroad Company, which
loaned the means 10 make that purchase. Win eco
nomical management the company Ought 10 prosper.
All present. Mr. Hart continued, IT u Impossible 10
say VINO viii be the directors Oi the company next year
Inc books will he closed on MAY 20, ana much Of tine
stock NAY change hands before That time There has
been some talk among few gcnicmrn but Tie ticket
Id, not settled. / nave suggested the name OF
Mr. Phillips president Of the Tnrd Avenue Railroad
Company, Of the directors. The OF Captain
d. ;. BibcOcl, president OF the Providence Line OF
Steamboats,, has bc,u mentioned dyOraby for director
and president Of the company. Two or three other
names have also DCgn spoken OF. Tho ticket VIII prob
ably he completed ia a lew days"
a gentleman Intimately connected with the Pacific
Ma Company, wnO favOr5 the new movement, said last
uigl lat the mes OF Captain ID. :. BdUcOck Samuel
C. Thompson, and Charles G.. Fanckyn present direc
trs and Mr. Alexandra, OF the Alexandra line Of
,Il would be on the " Reform ticket. The name ~
william T. clyde would be dropped. II the ticket should
| be successful, Captain BaDcJCk would probably be
elected president