The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-12-05
The following has been the course OF The stock market

"a
Michigan Central. ......... Al AK 40
Solihern guaranteed. ......... TX 19n Tx
Illinois OontrA.. .............. 81 "a $50 55x
Gaiena. .........-.,...,..... TIA 1919 ~
ROCK lsAnu ............... Us 65H Ola
Toledo. y. ................... W. ia ~
Panama.. ...................l Sln 49, 1871
Hudson Rlyer................ 39M 5i35 40h
Pacic Mail .................. 13n 80 1}is
The exciting event OF the week has been the breadown
In the negotiations for the sale Of the Pacific Mail Com
panys steamers to Vanderbilt. Pacific Mail stock which
advanced from IA 10 90 the news of the sale declined
he intelligence Of the rupture 70 49, closing yesterday
At AN We bave kept readers so fully informed Of
the progress OF the negotiation the causes OF tho rp
ture that there is little add by way narration
On saturday morning We took exception u statement, in
evening paper charging the responsibility breaking
of the negotiations Vanderbilt The Pacific Mail d,
rec,ors have likewise very properly conradiced the
statement, and have published the following report Of
their special committee
The Undersigned appointed committee TO complete nm
arrangement the basis OF the enclosed paper marked
A. respectfully report
That on tue 2sth of November a letter was received
from Mr.. Vanderbilt, announcing that meeting
Board OF the Atlantic and Pacific Steamship Company, on
that day. the proposed arrangement laid before them,
and that committee OF two appointed 10 carry
out the consisting OF Mr.. Clark aud Mr. Roberts
and that he had urged the former tn defer visit
Washington for the purpose This letter is annexed,
marked b.
We also annex. marked C. memorandum of the pro-
ceedings of that Board, enclosed by Mr. Vanderbilt BY
this appears proposed was stated
TO the Board as understood BY u.s. with the exception that
Dir. Vanderbilt offered 10 loan that Company the neces
sary means to make the purchase, thus getting rid OF
difficulty caused by the limitation Of the capital of the Al
lantc and Pacific Steamship Company
The committee thus constituted met Saturday night
November 26 at Mr.. Roberts house.
The business hand discussed, and amo1q other
points demand made by Mr. Clarkshlt Mr. Asia,un
or some other person equally responsible, should guara.se
that neither he Company Us steamers prUmiaen
members Of The Company should act in opposition to TIE ane
Of Mr.. Vonde,jiH in the Cdlyernid business.
To comply with this demand was impossible, and
considered an afterthought involving the hand
the necessity CT one person, with small interest,
sumng personal guarantee TO be measured by two
millions Of dollars, the other the necessity of the
company retaining from the stockholders the proceeds Of
their property when the main object Of the sale 70
distribute these proceeds,
A proposition was mutually agreed TO by way OF COM
promise-to meet Judge Kent on the following Monday
and allow him to adjust some plan by which the security
contemplated in tho original plan could be granted The
accidental absence of Judge Kent Monday and the
nacity of the Atlantic and Pacific Steamship Company
TO individual security, led to two subsequent interviews
Of which Mr. Vanderbilt promised that matter should
be definitely arranged late last EVENING letter hereto
that the plan was impracticable.
On inquiring, by letter this morning. of Mr. Vanderbilt
a. whether Mr. Clark authorized by him. he stated
dressed to him by Mr. Roberts and Mr. CLARK to day and
accordingly sent the following letter marked E. enclosing
The reply Of Mr. Aspnwall to which is annexed mark
ed f.
This communication from Mr. Vanderbilt puts an END to
the agreement were appointed 10 out aad only
remains for us to place the facts before the Board
specially ask 70 be discharged
WIN. Il. DAvDGE,
New York, NOV. 80, 1852 WM r. ASPINW ALL.
1t win thus be seen that their showing the no
gotation broken Off because the Pacific Mail Com
pany was unwilling to give adequate guarantees that
"neher the company, nor its steamers, its promi
nent directors" would carry opposition against
their purchaser In other words, they expected to
sell Vanderbilt Of their boats for twice their value
and at the time to the right of running an
opposition against him by way Of Tehuantepec Pana-
with the remaining Elk. AS to Mr.. Aspinwal's plea
that he had not interest enough to become security IN
such case, will be noticed that Mr.. Clarke did not in
sst on Aspinwal being the security but ready to
take "some other person equally responsible"
With regard to the other point in this aarthe stock
specuation-A "Director of the Pacific Mail Company
publishes card, in which he says
Ono incentive to speedy action was the desire to
prevent stock speculatioDs based information no.
known, and Notwithstanding the insinuatons
that the managers of the Pacific the opera
tors, believe il is notorious who were the large sell.
ut thE high prices. think II the managers aud
friends OF the Pacific Company have been operators they
have also been sufferers for having full faith the fulfil
OF the arrangement, they known to have he!
their stock whilst the shrewd sold high prices
The rs doubts created of the carrying Of the
mcnt were these sales
If this the best defence these gentlemen can make
we fear the public verdict will go against them; for the
question not whether certain of the r. NJ people chad
fah' and held to their stock whether they
"shrewd," whether any Of them have been Sufferers
the question is who bought Pacific Mail stock at and about
a. when the proposed arrangement was should have
been known emily to Cornelius Vanderbilt and William H.
Aspinwalf Who gave out on Monday morning last that
the bargain a fact, and persuaded innocent
siders buy the stock at and above 90 Who made thou
sands Of dollars in week by the rapid turn in the sock
"a Pacific Nail Director" will get very quick to
these questions he puts them to any intelligent Wall
broker indeed would seem that the successful
operators have been proud Of their gains be able
keep their own secret
In railway stocks the business of the week has ac
tive though prices not sustained to the Close The
John Brown affair exercised preudicia influence the
market and deferred people from specializing. The pre-
Willing opinion appears to be that the year will in
augurate upward in many stocks which have
been depressed and that increased traffic will justify
Improvement In the meanwhile may have quiet
tme
The amount at tho several depositares subject to the
draft Of the United States Treasurer the 2st OF No
vember was as follows
Treasury of the United States Washington 1925 SAG 70
Assistant Treasurer, Boston, Mass. 1886 4S3 so
Assistant Treasurer, New York ....... 1942,469 20
Assistant Treasurer Philadelphia, Pa .... 257 6S9 20
Assistant Treasurer, Charleston, s. C..... 7o,633 SO
Assistant Treasurer New Orleans, Ia ..... 573l23 20
ASS slant Treasurer, st. Louis Mo-. ... 164,344 81
DcIo~tsry at Buffalo, N. Y............... 1868 60
Depoetary at Baltimore, Md. ........... Sl1l47 81
nj Richn