The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-02-20

There bas been very little fGctualiDn in prices,
with the exception of Pacific Mail, which has been
up and down half adozen times between so and
90. his has been due to the negotiation for set.
Element between the Commodore and the Conpa-
ny, of which we have recorded the progress from
day To day. The settlement was signed by 10th
parties on Saturday, and, have stated, is Off
nature that il calculated to prove satisfactory 10
both, The fares on the boats to California were
raised on Saturday. II now rests V It'll the Pacific
Mail Company TO earn handsome dividend
their property by carrying on their business IN
liberal, far-sighted spirit; by maintaining good
relations with the people of California; by charg-
ing nothing beyond fair remuneration for the
vice they perform, and by treating their passen-
gers as well in every respect a. if the opposition
line still in existence. There ia steamboat
route in the world which will prove more profit
able than theirs il they use It well. Every day
will Increase the business of the line between San
Francisco aud the lsihmus; and besides this, the
gradual dsvelopement OF the Pacific shores both
north and south of San Francisco, VIII very soon
afford profitable employment for new boats. which
will naturally be owned by the Pacific Mail Com
pany. II, however, the managers of tina. company
should suppose that, because they have bought ont
Vanderhilts Pacific fleet, therefore the public Of
the Pacific States at their mercy they will
into existence feeling of hostility which sooner
later will raise no against them new rivals, even
more formidable than the redoubted Commodore
Railway business continues to improve. With
one or two exceptions all the Northern and West
ern roads vii take in money this February
than they did in the corresponding month of last
&, snt1xt
the Illinois Central, the Chicago, Burlington
and Quincy, the Rock Island the Cleveland and To-
ledo and the Michigan Southern. Thus far, how
ever, this increase has been followed by no CORES
ponding advance in the matket value of the stocks
of the various roads. The public are not taking
much interest in stock speculation and in the abb
of active purchases by them the old game is
being played by the bear jobbers. Thousands Of
shares being freely sold on time by spectators
who, should the tide tnrn against them, as it may
at any moment, will have resource but to follow
the example Of their predecessors of last year, and
default their contracts. Outside parties who
buy for the rise should be careful to carry the
rules of the board aGd that their contracts
secured by deposit Of ten per cent In money
II was just at this time last year that the four
trunk railroads TO the West embarked in the
competition which landed two Of them in the
hands of receivers, cut down the dividends
of a third from 8 TO per cent, and seriously
impaired the means Of the fourth. Could any one
have foreseen the results which followed the rup-
ture Of February, 1859, he would have been
amazed mt the andacity of the managers Of these
roads and al the supneness of stockholders IN sub
uniting 20 see their property fooled away. The
lessons of last year, it may be hoped have not been
thrown away. common adversely and a common
danger have at length driven the managers Of the
two great trunk lines in this State to pursue har.
monious and more reasonable policy and unless
the Lie gislature should undertake arbitrary
interference with their charges, it may be
presumed that the days Of ruinous COM
petition ale ended for the present The Penn.
sylvana and The Baltimore aud OHIO roads will not
renew the war, unless our Legislature should, by
aging tolls on roads or ny crippiing them 10y
Pro Rata law enable them 10 40 40 to advantage.
Tie Grand Trunk Railroad of Canada ia, at the pre-
sent time, the only road which ia carrying produce
10 and from the seaboard at q loss This road,
which is owned in England by wealthy men, is I'm.
dertaking desperate struggle for the business of
the West IL Is SAID that It's managers closely
connected with the Clinton League, whose interests
are Identical with It's own From late Indications
the Efforts OF these parties To sway the Legislature
against the railroads would TO have fair pros
pect Of success.