The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-05-29
The Gould Family Leave the
Pacific Nail.
NO PUGET SOUND STEAMERS.
The Canadian Pacific Has Temper
arily STAYED on Opposition.
facihe Exsensioa TO Grsy's H.reor-
Hunts Army Reanforced--Union Pa
eific Begins Work ~ Olympfa-

Nrw Yoxx. May as-At the annual
meeting Of the Pacific Mail Steamship
Company the following board of directors
was elected: Coils P. Huntington. Henry
Hart. Calvin s. Brice, Samuel Thonl ~,
Oliver II. Pavne. Edward Lautescach.
Charles W. McGee and James b. Houston.
President George J. Gould. in his state
nent for the year ending April -. said the
net earnings were "a per cent. After de-
ducsing an extraordinary expense os Se5o,-
01o for repairs on The steamers City Of New
York and City OF Ssdney, the business of
the Atlantic and China lines shows fall
ing of, which. however. is more than Off
set by gains on the Panama line and re-
duced expenses. so that the net earnings
exceed those Of last year by $4,000. The
cash on hand is $23S 900.
Gould says further: "0ur relssions with
the Occidental 4 Oriental Steamship
Company. owned by the Central and Union
Pacific railroads. have been somewhat
strained. Under the present arrangements
they have Jointly maintained the Yoko-
hama and Hong Kong line Tae figures
OF the past year show that the Occidental
Il Oriental boats carried nearly one-third
more cargo than this conlpany's ships, al
though our steamers have not all come
fully loaded. President Gould recon-
mends that trans Pacific business be pooled,
or. failing in this. that the Pacific Mail es-
tahiish separate routes.
The total earnings were 81 065 90; ex-
psnse, $a5S5 600; net earnings, $4,000,
cash assets, April 30. s673 600; liabilities,
sl7S, 900.
At meeting Of the board OF directors ].
B. Houston was elected president; Ed
ward Lauterbach. vice president. and the
other officers were held over until next
meeting.
The pok says: tits the impression in
the street that the Canadian Pacific Rail-
way has secured the control OF the Pacific
Mail. aud that its interests are represented
in the board named Undoubtedly the OBJ
iect OF the Canadian Pacific was 10 prevent
the contamination OF trade between the
Northern Pacific and George Gould. PRO-
viding for the running Of steamers to Ta-
coma This may result in the establish
ment OF another steamship line, but this is
deprecated by Oakes, who believes the
proper solution of the question lies
in the consolidation OF the Pa
ci.ic Mail. Oriental & Occidental and
Canadian Pacific lines and recognition OF
Puget sound by . monthly or semi
monthly steamer TO and from that port.
An Arrangement Of this kind would rive
San Francisco. Puget sound and Van
couver all the China and Japan service
they needed.
SAN FRAxcIsco. May 2s-An evening
paper states that at the Pacific Mail Steam
ship Company's Office in this city il was
denied that the presence Of George III.
Riei, traffic manager of tho Pacific Mail at
Vancouver, has anything to do with the
design to establish . line OF steamers Of
which Tacoma is to be the terminus. Gen.
eral Manager Chesebrough denied that the
company has intended to establish . ter
minus at Tacoma. Another official said
there was a mutual understanding that
bound the Pacific Mail from intruding on
the territory OF the Canadian Pacific. Ia
reference to the policy to be pursued in
the event of the establishment OF a rival
line between Oregon and San Diego or Ia
fact any other port on the Coast, an nm
derstanding has been reached. II Is said.
that uncempromising war viii be waged in
order to overcome their rivals. Relative TO
the profits OF the freight business between
China, Japan and the United States, the
official further said that no steamer was
now running that, averaging for the year,
more than paid expenses. Many trips
were made at loss. but the lines were
kept up By the great connecting lines of
railroads. who made up on land the loss
sustained on traffic by sea-