New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-06-01
THE PACIFIC NAIL MEETING
NO PRINTED REPORT. But a STATEMENT
FROM MIR. HUNTINGTON.

ELECTION OF TIE OLD BOARD OF DIRECTORS
PANAMA RAILROAD PEOPLE SAY THE con
TRACT IS ENDED FOR GOOD"
The annual meeting Of stockholders OF the Pacific
Mall Steamship Company was held Yesterday. The
annual report from the president Coils p. Hunting
ton who was elected last June was not furnished
in printed form az usual Memory must 60 back
many years 10 discover similar omission In eX-
planning It President Huntington said: The annual
meeting follows closely upon the earliest date Dy
which complete returns In regard to the company
transactions for the month OF April ana lot the
year can be- obtained that printed report setting
forth fullv and I'm detail the companys operations
FOR the year the character Of rs assets ana lia-
bities and other data in respect to It's property
cannot be prepared and printed In time for the an
nual meeting Your board therefore presents az this
time only a general summary OF the years opera
TONS which will be followed by printed report
within the ensuing two three weeks
The president submitted an imprinted report snow
ing the receipts FOR the year ending April 80. 1884,
TO be g. s 92 49, and the expenses to be SeSi W.
leaving a surplus Of receipts OF $4I5,i6l 81 Inc
president then says: M
Comnar,ne the results OF the year just closed with
the results OF the previous year. there mas oeTh
a decrease In the gross earnings OF czSi5Sl w. ue
vsar sl75 ,sI q carnlngs over expenses. against
deficit OF sJG 7i0 IS In the previous year nder an
agreement with the Panama MaFSad ,o1 pperoi Of
one year from the operation for s account its line
wall and Which is known the Atlantic Line OF
the company From the discontinuance OF TINS ser,
esrnlngs above referred to- or the decrease In eX-
penses S $50 42 is IN general and extrsordnhry re-
nairs OF steamers, more than an annual aVerahc
amount having been paid and included IN me opera
lions for the previous year The remaining
IL about equally distributed in the operations ol
the panama Line and the discontlnuance OF servce
the Atlantic Line There Is Is, n for general ef
and extraordinary repairs OF cleaners lus 80
about the amount which this character OF ua
deemed best to charge this amount aBalnst Ile eH
penses annually ana 50 ,n Which The payments
exceed the annual average "A .,,,, ,,oa~
There ~ inciuncu ~ hms,ness ~ the AGENCIES at
san Francisco. Yokohama and Hong hong over s
tH Sc wp to coparatiyey Increase the earnings
over expenses this year In the sum OF S36s4 81 A
counting on october !. 1893 by which the methods
I'm respect thereto were materially smphled ara
chaapencd. The expenses are now SHOWN unucr nc
tails which permit close supervision oNtr 't trn
the accounts are brought up one month nearer tnn
before and the companvs proportion of earnlnss
freight delivered to CONNECTING iinrs' WHICH VIZ
formerly booked only as collected Is now SHOWN III
accounts upon the books OF the company which re
Quirr adjustment In order to convey iillr ei.ille
2 . the Sop"ny nov 9 pFo s and viii be fully
matter of interest to the stockholders, 1t is now
stated that the amount OF loans and bills payable
which NJ the close of last years report amounted
70 ssSS osi ST. has been reduced In the OF 3l9.
sSJ 81 during the year and amounts at the close OF
this year to S}3s9 o.
The report vas adopted. but stakeholder then
raised question OF technical procedure and after
a vote 10 reconsider the report. II ordered re
ccived and fled" A stakeholder. J. Flcshauer'
asked for Information regarding the present rea-
tlors between the Panama Railroad and Pacifc
Mall w H. Lane the secretary. stated that the
Panama Railroad had given notice 10 m Pacific
Mail that It's contract would be terminated
at rs expiration June IS. Neverthe-
legs. negotiations were pending for an extension OF
the contract, and the management had hopes that
an extension would be made. The Panama Ran.
road offered 20 renew the contract on a reduced
basis but the ofer declined Mr.. Lane said
that in his opinion II would be more to the benefit
Of the Pacific Mail 10 renew the contract on favor
able terms than 70 independent service.
The old board OF directors elected by a vote
OF $500 shares. follows: C. 7. Huntington
Henry Hart Isaac E Gates. Calvin s Erce Sam
uel Thomas Edward Lauterbach. Russell Sage
George J. Gould and X. =. Schwern. Mr.. Schwer'n
elected shortly after the last ANIMAL meeting.
IN place Of J. r. Houston who resigned.
Officers of the Panama Railroad stated yesterday
tina. the contract with the Pacific Mall had been
terminated "for good" and the railroad would start
It's steamship service on the basis already described
I'm The Tribune.