New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-02-23
TROUBLES OF THE BRAZIL MAIL COMPANY
WILLIAM NJ. WINS EXPLAINS HOW THE IMAM
CIAL TROUBLES ORIGINATED

William NJ. WINS president OF the United States and
Brazil Mail Steamship Company. said yesterday at hi-
offices In the Mills Building. when asked about the
difficulties leading to the filing Tuesday OF bes
| the companys vessel; by solomon SIyleS:
1T Is true tha. the affairs OF the in a
serious condition. 1t has been losing money for a
number OF wears. 1t In view Of this fact that
year ago. more or less the board OF directors asked
me TO take the presidency and make an exhaustive
| examination OF its affairs. and what would be
requisite to put II n paving basis This did both
here and In Brazil.
1T was soon discovered that the difficulty was
due, in the first instance, TO the intense competition
OF the economical English cargoboat. is too long
| story to tell here IN detail The old admlnstri-
ton had tried TO meet this difficulty by eTec,ng
economies which would put the company more nearly
on level with the En- l!shmen For this purpose
they had put into the steamships seam generating and
fuesaving machinery. which, however. worked badly
and resulted In losses OF nearly 5000 900 the com
pany and II was found necessary when the executive
officers were changed. TO entirely undo this work
1T was about the time o. Mr.. Thurber's retire
ment. when the company hid already suffered heavy
losscs mat the competition became intense than
ever. The company then began using chartered Eng
lish ships and acquired complete control OF the trade
By this time however. Brazilian exchange had reached
its lowest point. Hard times came In Brazil Onr
passenger receipts fell of twohrds and our coast
wise freight business fell of even more. The decline
In brazilian exchange reduced Brazilian mail pay
10 somewhat less than Cne-half its par value. Then
came the severe seasons OF yellow fever the block
ade OF the brazilian lorts. that arrival there
last June found that the cOmpanv's agents wi hont
the companys knowledge and In violation OF their
contracts had actually paid high as Sl3 ton to
discharge goods. for which the company had only got
- 20 gross freight per ton for 5000 mile travel
Inc agents AT RIO Santos had also been dcrcct I'm their
ou'y IN other respects They had allowed steamers
to be detained twenty. thirty and forty DAYS at a
Time and had. through their breaches OF contract with
the company and their incompetence and neglect and
the conditions Of the Brazilian ports caused losses az
gregating not less than 100000
1T was not long after this that the cholera scare
IN the United States compelled the Brazilian Govern
ment TO establish quarantine against vessels coming
from New YORK, and the result that In a number
OF cases our steamers had TO go 1000 miles out Of
ther way to quarantine. In the mean time. a mail
contract had been entered into with the United states
Government for the Argentine and brazilian service
although we have not yet received any payments
the service being fully established ! had been
able to secure some notifications In our contract with
the brazilian Government. OF such character as to
be OF great advantage TO under normal conditions
Ever since my return to New York. at the begin
ming OF the year, have been making every effort
to save the company We short OF funds aud
are still So This IS primarily due TO losses but
sccondarily to the fact that Of ships laid
up for some eight months and finally required repairs
TO tie amount OF some $4,000. Another OF our
ships IS now laid up In Newport News for repairs
necessary TO fit her for the performance OF our mall
contract with the United States Government. which
VIII cost some $4,000. OF remaining steamers,
one was llbcllcd In Brazil and detained there for
nearly MONTH The result is that three Of our
ships came into port together yesterday, and another
Of them Is laid up In the yard undergoing repairs
that the entire financial business OF the company
has been disturbed and dsorganzed through the IT.
regularity OF receipts and for these reasons have
been able to meet current bills
I" ! am still In hopes that may be able TO save
The present company. But II only be done bv
the further investment OF from 81 900 900 FL,
800 900. TO be used In the purchase Of fleet OF IN
expensive and economical freight boats, to supple
mcnt our more expensive passenger and mail ser |
vice. In any event. the investment here Is large
that I am certain business Will be continued In
some form, and under a proper and equitable
ganizailon in case the present company canDOt b.
kept alive