The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-03-17
FINANCIAL AND COMMERCIAL
mon EY RK EFT.
SUNDAY, March l6-6 |

The event of the past week in the stock mlrke
was the panic in Nicaragua Transit, caused By
the news from Nicaragua that the company's char
ter had been annulled and its property seized and
confscated. The public mind is decidedly agains
Walker and his abettors in this movement, and he
has lost that popularity which his previous acts had
created. He has simply been made tool OF by GER
tain cliques Of stock spectators. As soon as the
parties to whom we allude had arranged with Walker
the annulment of the Transit charter, their confede
rates here entered the stock market, and sold the
stock of that company short to very large amount.
1t was with them sure game and it worked, doubt
less, to their satisfaction Others put different
truction upon the matter, and say that the whole|
fair was conceived in frand and carried out upon|
he same principle. 1t matters not who these
cNques are composed Oft matters not il 1ome of
the present management of the Tra sit Com
paBy are engaged, us is represente6-it does
not alter the complexion character of the opera
ion bit. 1t ia stockjobbing affair thro; ghoIt,
and the sufferers are stockholders in the Tape;t
Company.
Some months since the San Francisco agent Of
the Transit Company employed Walker, at that
time an unsuccessful filibuster, to proceed to Nj
caragua with small force for the purpose of putting
end if possible to the internal difficulties of that
country The Transit Company furnished him all
the aid and comfort necessary both to get to the
coast and through the interior. Its steamers were
at his service and used in his operations. Money
was secretly conveyed to him, and under the auspi-
ces Of the Transit Company Walker established his
government in Nicaragua. The company's steam
have been of the greatest service in conveying
recruits and munitions Of war, on both oceans, to-
his support, and their steamships have been seri-
ously interrupted in their trips by the suspicious OF
the United States government that they were con-
nected with Walker. We hold that everything has
been done by the Transit Company to sustain
Walker in his revolutionary operations. 1t has run
the risk Of losing its steamships by Seizure on the
part Of our government, and been at all times
liable, upon the slightest suspicion, to detention and
expense. 1t has conveyed passengers, destined
to Granada and other places in Nicaragua
at lower rates Of passage than usual, and
by keeping up regular communication, aided ma
terially emigration to that country. All this has
had no influence upon Walkers personal operations
or upon his personal feelings Indebted entirely
the Transit Company for his present position we fad
that as soon he has acquired little independent
strength, he turns upon the Company which has
rendered him such important service and has been
prevailed upon by certain parties who have hostile
feelings towards its present managers to use his
power to crush it. Walker is perhaps more honest
in this movement than his advisers. His crime is
simply ngratitude; theirs the Of such means to
injure innocent parties. We are induced to believe
that Walker has been made tool of but when we
consider the aid and comfort he has received from
the Transit Company it does not speak very well
for hls sense of honor or common honesty to suffer
himself to be used for such purpose.
1t has been represented that the present manage
ment of the Transit Company was opposed to-
Walker and were about taking steps to crush him.
This is SO absurd on the face of it as to hardly
be worth noticing. Negotiations have for some
time past been going on between the Pacific Mail
Steamship Company and the Accessory Transit
Company, relative to a combination Of interests for
the more profitable prosecution of the trade and
traffic in which they engaged. II has been pro-
posed that the Pacific Steamship Company run its
steamers between San Francisco, San Juan del Sur
and Panama, alternate weeks. One week To San
Juan del Sur from San Francisco and the other
week to Panama from San Francisco. The Transit
Company to confne its operations to this side
Of the isthmus, running its steamers one week from
this port to San Juan del Nore, and the other week
to Aspinwall. An effort was made to divide the mail
contract on this side, the Transit Company agreeing
10 carry the mail weekly instead of semimonthly, at
about half the present cost. The only obstacle to
the above combination the unwillingness of the
government to divide the mail contract-to permit
the mail to pass through Nicaragua-and recent
events show the wisdom Of that determination Un-
der the present rule, mail matter treasure is not
safe within the limits of Nicaragua, tor Walkers
necessities may induce him to seize upon any pro-
perry that may be- unfortunately for its owners with
in his jurisdiction But for this difficulty relative to the
mail contract, the two companies above named
would by this time have completed all their arrange
ments for distinct operations conformity in each
ocean. A weekly mail communication would have
been kept up between New York aud San Fran
cisco, Nicaragua would have the benefit Of semi
monthly intercourse with ports of the Atlantic and
Pacific, the same facilities relative to emigration
would have been sustained, and the government of
Walker strengthened and consolidated. All these
advantages and conveniences Walker throws away to
aid few personal friends in their stock jobbing ope-
rations. This active and powerful company he seeks
to destroy by giving new grant to parties who
have not the means the intention of establishing
new through line. He kills the goose that has
| laid the golden egg, with the hope of raising up
richer monopoly, and in the very grant provides for
transfer, in of default, to those who may have
| the means to carry out its objects Not satisfied
| with enjoying the Transit Company's property,
which would force settlement OF all claims, Just or
| unjust, he goes further, and annuls it's charter
and attempts by a stroke Of the pen to annihiate
| the millions of dollars which American citizens
in good faith have invested in the enterprise. II
such acts encouraged and upheld there is an end
to the employment of American capital in foreign
| works NJ internal innnrnveu,ent IL there ia mot
some guarantee for its safety protection from
libustcrs and revolutionsts, there end at once
to public confidence, and American enterprise will
confne itself to its own territory. Within the past
few years several works of internal Improvement
have been projected in New Granada Mexico and
other neighboring republics, and large amount Of