The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-05-09

The most marked movement Of the week has beon In
Pacific Mail, which yesterday advanced six per cont The
rise was partly due to rumor that the company had
been the successful bidder for the contract partly
to the proximity of dividend day. being generally un.
destood that the company funds on hand to pay ten
per cent DIVIDEND and partly desire on the part OF
holders to corner the shorts" There were many hun
bred shares sold last week at 20 rs which, present
prices would net heavy loss Wo understand however
that Commodore going into the eight with energy;
and the prospect that far from having seen the
end Of the fluctuations this very mercura stock Pana-
has 9uctuaed between l2S and 122 last Monday
It's rise checked, rst by that the Nicaragua
about To be opened and aerward by the gene
raj war panic With regard to the former we published
early last week the decree OF the Nicaragua government
annulng the grant to the s,ebbins Transit Company BY
Of that contract in the cvcnt Of any dispute
tween Nicaragua and the Company the parties were
bound TO submit their dispute to arbitration
On receipt, therefore, OF the that the government
bad without referring to the company, auuulled their
grant, the President appealed to government for re-
dress The following letter from Dir Cass was received
yesterday -
WASHINGTON, May s, 1853.
To Joan assvs sac s Esq presasnt Of the American
Your letter OF the 26h and Mr.. Body's Of the 29th u
with she accompanying papers, have been received
ru Lamar, the Minister of the United States to Ncara
gua copy of which was communicated to the govern
ne1t Of that republic the views Of this government re-
specpg the contracts formed by their citizens with Mica
ragua fully made known. The right OF Nicaragua
arbitrarily TO annui such contract peremptory de-
MED and the duty Of the American government to watch
over and protect their citizens distinctly laid down.
In consequence Of municaon from General Jerez
thu Nicaraguan Minister, have just addressed him note
avowpg the inaton Of the President to adhere to
the principles laid down in that letter TO General lamar.
LEWIS CASS.
In the early part OF the week upward movement in
! rally was inaugurated under promising auspices
number of capitalists became buyers the strength Of
the prospect of tbs Western crops the general i'm
proyement businesswhch presases at no distant day
a marked increase in railway traffic, and the capa-
city the part Of many roads 10 pay dividends. This
upward movement checked by vigorous Efforts on tho
part Of Wall street operators Wednesday, and the
OF the imminenee Of war which arrived Thureday
Yesterday and day before the BEARS who during the pre-
vous week had lost part Of their courage renewed their
assaults stocks with fresh boldness and several stecks
were driven below the lowest points touched this season
Those which suffered most New York Central which
declined per cent and Michigan Central which declined
per cent Doubts entertained TO the capacity
Of the Michigan Central TO pay its dividend July the
Detroit and Milwaukee road is said to be hurting it
severely Galena has likewise been hammered with
come success by the bears; informed that will
| however do fair business in May. The dispute
| with the Nebraska road through Iowa, to which we
alluded yesterday is prejudicng persons against
the property The management should settle this matter
without delay Rock Island has been very firmly held
At one time during the week IL touched ol there s
however no the part the buyers corner the
street, on tho contrary, the leading bulls lending
their stock to all who require it, The business for May
will probably show increase last year. Nothing
has vet been done toward settling the controversy be-
tween the four great Western roads though is costing
| all OF them much money.
As general rule, the news has not induced holders
Of stocks TO sell them lenders 10 Withdraw nom The
market On tho contrary, United States Ewes advanced
yesterday = per cent touching 104l the hghess price
yet and SOHO loans al por cent paid OF by the
borrowers, who fouad they cond get the money at L.
No fftsh railway stocks are coming into the market
The sales Which being mado q. the beard and IN the
street arc all brokers' sccss srid ~ Wall ss1eet Job
tas TIE public are vol buy ng yes, largely; but they
| are ot sgliug
CITY COMMERCIAL REPORT.
| SATURDAY, May 10 ?. II.
| hssiI ss.e quiet At 20. Ter both sor.z.
l Observation-Disclosures no r,arkSt Waa Asail uru0f.