The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-05-19
ANOTHER FINANCIAL SENSATION.
THE RuMoRs AND EXCITEMENT IN WALL STREET,
Statement of Mr.. Davidge, the
President,
&a., &c., 70.


The Change and the street were agitatad yesterday
with 10 regard TO difficulty 10 the Affairs Of the
Pacific Nail Steamship Company, and the stock Of the
company in consequence Of these reports fell from LOT
with dividend, Saturday and par ex dividend on Wed
nesosy 81 asctpg the whole market The extent Of
the alleged fraud could not be Ascetaned Wall street
expansion Sc, 1t Gown al 100000 70 100000. In oil
main points these agreed. Frederick Hoffman,
the Secretary Of the company who hsd charge OF the
stock ledger has been missing since Tuesday last and
the stock lat, which his duty to have prepared .
week ago. has not been forthcoming This FACT and the
recent de la regard to the Rot oce defaica
tons, gave rse 10 the OF heavy overissues Of
stock and pressed the ftock do~n 10 the quotation given
above.
AT THE CoMPANY's OFFICE.
Our reporter Immediately visited the Office Of the CO..
Per az found tie President closeted with the Director
M special meeting and neither President directors
Accessible One Of the clerks 10 to our ia
qures said that the dividtnis payable Today and
that the transfer books had been closed . week
ago. All employed in the Office seemed very
much excited, ard their answers curt and
often evasive. Oar reporter turuet over
to the transfer clerk for further information and the
veIsston constantly interrupted by persons VINO
would enter, inquire for Mr. Hoffman, be shortly aformed
sali be not >" and then retire apparently satisfied
that tie reports Of difficulties we're true.
STATEMENTS OF THE TRANSFER CLERK.
The transfer clerk said that he had heard the rumox
but didns know anyt thing about the defac aons clerk
pamed Hoffman had been employed there upon the stock
book, and he bad not been In the oce for three
days. he did not know what had become Of Hoffman;
thing wrong bad been discovered in the book but
yet an investigation WAS going on; 1t hard thing to
preudice any ones character.
To Mr. Lsngdon, Of the largest stockholders, the
clerk became much more communicative In addition 70
the Information given above, he said that the dividends
would not probably be paid day the stock books
not written up and i'm possible 70 finish them last
night the stock books undergoing nvestTa
ton they had been partly written up and far nothiag
at all had been discovered the only suspicious cir
cumsance was that hts books had not been written up by
Mr.. Hoffman, Hoffman hal not been ordered to have the
books ready part Of his bosnsss 70 have the books
ready; WAS part OF his business TO have them ready
without special orders there bad been dividend paid
since last May he couldn't say whether the defAlcaoas
II there any, must not have happened since tia,
time; the transfer books under his CONTROL and be
had made GU. the certificates for $780, and csud iionn
them; he could conceive Of probable possible way
In which such detslcAiious might have been committed
Hoffman had entire charge Of the stock lisa
AN APPARENT ovERrssuE OF srocK.
Just ri this time Of the directors from the
private ROOM the meeting having Adjourned and recog
nzre several large siockhoders told them that nothing
wrong had been discovered far the only thing for the
public do bring the certificates Of stock to day
and have them examined aud stamped. II appeared by
the lists copied from the books that there had been
overissue OF four hundred shares Of stock, bat
this usue might be proven genuine when the cerud.
Gates we're examined The only ADVICE he could give
the stockholders await the result Of the invessa
tion, and 70 bring IN their certificates.
HOFFMAN, TUE MssIso cLyRx.
Hoffman has not been the Office since Tuesday last
but wN seen Tuesday night, NJ the Nsw York Hotel
snce then nothing has been known OF bis vbercas ,is
His brother, who employed clerk in the Office Of the
Panama Railroad Company. In the same baldiog, says
ihn be does not know what tss become Of him.
Hs habits, like The majority OF young men, neither
very extravasan very economical THIS to be
all thai s known OF hs psrsonai habis, AMI has little
weight other for or against the truth OF the runners.
THE COMPANY AND ITS BUSINESS.
The Pacific Mail Steamship Company has been 10 OK
hteuoe about nine pears II the only company running
stesmers upon the Pacific coast and boats from
PArsms 70 ss. Francisco. connecting With the PAsams
RAroad and from San Francisco TO vsacouvers Island
and Oregon To earnings, ~ might be expesed.
arc very large, and the dividend, 70 b paid 70
day, was announced n ten per cent Tho stock Of the
Company secured BY bonds, but by iis property In
steamers Ana In real cssse Ia San Francisco Panama
washirgtoa Tcrrisory. The company o~ns and hu If
works u BcuIca. where Heensn employed. and from
whence be takes hs well known usle 'ths Benica Roy"
W. AspinwaII was for long time the agent and pre-.
ridsnt ef The company, and ID eth leading director
The fall In the quoiAusns on Chsnge Thursday Was
generally attributed, n nrs,, 70 brokers' movement or
the starting Of opposition company bu, the stock fell
still lower when The rumor took deante shape. The
brokers aud merchants were much excited AFTER the
meeting Of the Second Board yesterday and the
seemed generally believed 70 be The stock Of the
Panama Railroad Company sympaiheucsily affected,
and fell nom Its, The price ten days ago, and lto
Thursday, TO las q, the second board yesterday
The statement Of the Prcsden, Of ths psny yin be
found 10 financial column.