The sun., 1890-06-18
SHE DISTRUs1s Tue REF. MIR. coPP
Aud Fears She Has sunk Her Money in an
UnsiukabIe ship That Isn't Yet Launched.

| Aud Fears the Has sunk Her Money in an
Unsinkabie ship That Isn't Yet Launched.
The affairs OF the Arrow Steamship Company
and OF Its sister corporation, the American
Steamship Company. are likely to be over.
hauled In the courts shortly. Yesterday after.
noon William II. Clarkson Secretary OF both
corporations. was served In the American
| Steamship Company's Offices at 1l5 Broadway
with summons and q copy of q complaint
| giving him twenty days to answer and show
cause why receiver should not be appointed.
Wilbur NJ. Bates. a stockholder, brought the
action on the ground that the company had
| violated the conditions of its charter and had
| kept It's books irregulary.
| About twenty five ears ago Robert NJ. Freyer
got the idea that he could build flreproof, un.
sinkable ship with extraordinary powers Of
speed. In 1887 he took out a patent, and tho
Arrow Steamship Company was organized
under the general laws Of New York State to
carry out his scheme. The Rev. Richard Copp,
Methodist clergyman, became Nice-Presi-
dent and director Of the company one year
later. The company was not prosperng To
help 1t the Rev. Mr.. Copp proposed in return
for certain patent rights controlled by the ship
company TO furnish 1t by means of new stock
company with the capital necessary to prose-
cute its plans The result was the incorpora-
tion in July, 1855 Of the American Steamship
Company under the laws of Kentucky. The
capital stock was placed at 81 900. 900, or 100000
shares at $40 each, with the privilege of an in
crease TO $lOOu0OO0 Mr.. Copy was chosen
Chairman and Mr. ". II. Clarkson Secretary.
c. q. Rogers. Stephen Thorne William A.
we're elected directors. Mr.. Rogers was elected
ice-President and Mr.. Clarkson permanent
Secretary.
overlooking. and the Rev. Mr.. Corp looked
around for new subscribers In his boarding
house he found two sisters, Ella N. and Kate
II. Bardwell to whom he sold about 100 shares.
He is said to have borrowed $3.50 from the Sis
tors and when dunned for the money to have
Quieted them with tho shares. 1t was repre-
sented that the unsnkablo steamship was
building in Round bay baltimore, and would
struction did not get beyond the keel. In May,
1889. the Arrow Steamship Company declared
all contracts between 1t and the American
GompSany , y0id because the American Com
Secretary Clarkson said, yesterday. in de-
tie while ago that he would give them the
money on thirty days notice which he had the
for the money. ON June q Ella NJ. Bardwell
transferred her $50 shares Of stock 10 Wilbur
NJ. Bates, who IS mt the head OF detective
agency, SO that he could get II chance as q
stockholder to look at our books Bates looked
through everything here and then brought this
action. He complains that we elected officers
in New York when our charter required that
we elect them IN Kentucky, and that the books
were irregularly kept. l keep the books my
self. They are open to all stockholders ale
ways"
The animus OF the action, Mr.. CIarkson
thought. was to bulldoZe MIR. Copp into buying
the Bardwells stock without delay. Wilbur NJ.
Bates could not be found at S34 broadway. the
address given with his name in tho directory,
and no one there knew him.