The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-03-15
The Last News from Nicaragua New View
Of Several Important Matters.

Of Several Important Matters.
The steamship Northern Light, which ar
rived from Punta Arenas on Thursday night,
brings some interesting and important news
from Nicaragua
The chief item Of interest in the news was
made known early on that day by despatch
from New Orleans, and it became known in
Wall street that the present government in
Nicaragua had seized the boats and other pro-
peru owned by the Accessory Transit Compa.
ny to sa,isfy debt alleged to be due from the
company to the government. The stock OF
this company, which had been going up since
the Rivas government seemed firmly estab-
lisbed. opened at the Brokers Board at TWEEN
ty-two and fell three per cent. The panic
was widespread, and about five thousand
shares were sold. At the secoud board the
stock fell to eighteen, but finally closed a.
nineteen, ard one Thousand shares were sold.
Yesterday morning the excitement was unabat-
ed and the stock was offered before the board
at twelve. The board opened at fourteen
when four thousand shares were sold The
second board closed at an advance of two per
cent making an average Of eight per cent
depreciation Of the stock since Thursday
morning The weight of this blow to the com
papy- the charter being annulled as we'll as
the property seized-may be better under
stood when we say that it has nearly two mil
lions invested in the carrying trade; that the
value OF its property thus seized is over half
million of dollars, and that the amount Of the
depreciation OF its capital stock by the panic
and consequent fall, is six hundred thousand
dollars
As matter Of course, the public Is not
made acquainted with the secret motives
which have actuated General Walker in taking
this imp, rtant step. The facts, SO far as they
are known, with the decree on the subject, are
given elsewhere. For the motives we have
only ez parte statements. It appears that the
company agreed IN ls49 to pay to Nicaragua
ten thousand dollars annually and ten per
cent Of its net profits for the right of way
across the country, and there was also to be
built a canal, railway or carriage road. 1t is
held that neither of these conditions have been
complied with, and therefore the treaty has
been annulled. The property of the company
has been seized as security for q debt of about
three hundred thousand dollars, alleged to be
due by the Accessory Transit Company to the
government of Nicaragua. Further, that the
Nicaraguan government has several times en-
deavored to induce the company to leave
the matter to settlement by mixed commits
sion, but the company had refused to do so.
1t does not appear that there has been any
interruption in the transit of California pas
sengers We note in El Nicaroguense, of Feb
ruary %, the arrival of the steamer La Virgin,
on the 22d from Castillo, with mails, passengers
and express from the Atlantic States; and on
the goth, the arrival of yacht General Walker,
from Virgin Bay, with California mails and
express. 1t appears that until the organize
ton of the new company the old company's
boats are being run by the government Capt.
Scott, the Transit Companys agent, has been
appointed receiver, and the commissioners
have left Granada for Virgin Bay to enter
upon their duties
We cannot say that the Transit Company's
case has awakened much sympathy in this COM
munity. The company was never popular
until the late filibustering excitement, and its
little instalment Of public favor at that time
was chiefly owing to the fact that Marcy
seemed vindictive against it. We have no
theory of our own to offer upon the sub.
ject until further Developments shall have
TRANSFERRED; but the story which receives the
most credit in Wall street is, that Walker &C
ton is the result of quarrel between the ms
and the outs of the company Our readers are
aware that at first Mr.. Cornelius Vanderbilt
had the cont oil of this route, but that the
Mr.. Charles Morgan. Mr.. G. X. Garrison was
the company's agent at San Francisco.
These persons had the power in June Of last
year, when Walker sailed for San Juan. The
money for the expedition was furnished by
Garrison, who was Walkers personal friend.
And by sort OF round about way, twenty
thousand dollars of the companys money found
its way into the Nicaragua treasury about
the time Walker established himself Then
came change. 1t was charged by the outs
that Morgan and Garrison were wasting the
money of the company and making large sums
for themselves Morgan, some months ago,
was ousted. Vanderbilt again assumed the
reins OF power, and the other dynasty "caved."
Garrison then becoming an out, sent his son to
Walker to say--"You have the power-now
help us. We have placed you where you are,
and now We demand your assistance" And
then Walker, to serve his friends who had
been ousted from place by the company, took
the first convenient excuse to strike the blow
they demanded.
The company claims that Walker has no
right to annul the charter granted to them.
and one Wall street blanket has been stupid
enough to say that this corporation is protect
ed by that absurd humbug, the Clayton-B ulwer
treaty. The President of the company states
that it has never refused to pay what il owes
to the government of Nicaragua, and that it