New-York tribune., 1890-06-18
THE INVESTORS IMPATIENT.
tvp,PR,ssIyG THE REV. RICHARD CoPP.
,,su,p COMPANY HAS NOT BEEN A
orccFss FINANCIALLY AND A Re
.r,,,rp - ASKED FOR.
cFIVFR = ASKED FOR.

cF1vFR = ASKED FOR.
r.u.u n Rates a stockhoder in the American
s,o.rshin Company. which has an once al No -
pro,dvav has begun suit To put 'he cohp'"' -.
,be hands OF a receiver. summons ana oop'
the complaint were served on william H. ''A'
secretary Of the company, yesterday III" a'''"
,.d on l,craIties in organization ana alleged irir5"
,'.ta i tocninr the books. The American steam
,, Con,,,,v was Organized July >, l7-S, under
Tho laws Of Kentucky. The capital S'o'h was pI'''
- 100 600 shares at $40 each WIN ''c p'lNHcEo
~ ,o.ooso N 80 600 600. The president ana pr"
motor of the company was MethoNl'' Prfac"cI W.
ma ptcb,rd Conn who had come to this city after
,av in Panama and SOrIth America where lie LOST I'>
health Here Mr. Copp met Robert W. treyer' a." u"
vcntor and president Of the Arrow steamship 'omp'"!
Three year, ago the marine jonr"ai' D'0'>"'He" w,
with pictures Of beautiful unSihhAne Steamer WIZ 49,
.lx fnnnels the Pocah0ntas, whlch was 10 pe o''''
,aor IN, rrcvcr patcnts and to be the first OF the
Arrow Line Of twelve transatlantic Ve''es OF pIe
nomcnal spced The Tribune spoke unpaailhc trith'
,o,, tho company AZ the time and tie public were
NOT deceived bv the CANDY and gauW prospectus ol
tho Arrow steamship Company. Tie result VERNE"
r, rn,,oo,s nredjctions Tnsuccc'>iul attempts
Ucrc made 70 build the pioneer vessel oi the Arr""
Line at Alexandria and Baltimore IAe schemes
couonscd and when the outlook seemed darkest Mr.
Conn loomcd upon the stage. Thr0hGh MS acquaI"'
,nrc with Mr. Frcyer he made director and wee
,r,.,cp. ~ tiic Arrow Company In lis difficulty ne
nrcnosod to organize the American steamship com
many sell If, stock and build steamers for the Arrow
COMPANY" \ contract 70 that eject was drawn up
ur Cam made a contract with the Coates Company
~ p,limorc 10 build his ship. This company got
ont a lot Of iron and prepared for work. but as the
American steamship Company, or more strictly SPEAK
inc Mr. conn. could only raise about ~ 900, the
nrotcct fell through and eventually the Arrow Com
panv refused 70 recognize ts contrat with the AmcF
can Company and got another concern. the NOM
mental Construction Company Of Baltimore, To begin
bnildng steamer for II. which j. now under conNtrnc
tlon.
In the meantime the nnancicrinC work Of Mr.. Copp
in "promotinc" the sale Of shares Of the American
steamship Company led MP 10 Yesterdays application
ior a receiver. Mr.. Copp's efforts were most success
hi In hi boarding house in Gramercy square. several
lmprcs,ionabio women boarcrs under his personal
appeals invested small amounts. 500. $3.50. etc. In
one or two instances Mr.. Copp gave notes containing
ms personal guarantee" to the sauenine investors
one Of these notes bore stipulation that Mr. '"pp
10 have ~iNty days notice before being called
nppn tu make -,oh IN, guarantee For = year
- Mr. Copp Ia, beer engaged In lively CORES pond
with these female investors. and hi, letters. ~
hillfcd bv tie attorney FOR the women. show that
Ne has had hard time pcr,uadlns them 70 wait until
the shares - The American Company are worth more
than the p1pcr thcy are written on one Of the
women finally Transferred her stock to Mr. Baic, Who
bring thc aron Tor receiver. ..- .,, -.
Carkoou ~" secretary ~ the American Company. +"
q Tribune reporter yesterday. The Truth is hc ia,
been bounded 10 death hy private dct"otIvc-. acting
and Threatened arr,,t uuul he hid to appeal to In
,pcctor Lyrnc-. Al that b" wants j. TO get ~"
benefit II the notice - SIXTY DAYS and hc wil! take
back the stock. Meantime we -hall contest the -ult
for q receiver A. think the American steamship
C"mpany j. All rifht a"d VIII le lnnNi %hcn VIZ.
Loidon. We hold that tlc CONTRACT with the Arrow
Nr. Clar,,on is also secretary Of the Arrow Com
pany.