The Elko independent. [volume] (Elko, Nev.) 1869-1872, 1870-02-09


PLsAMA.-The Pacific Mail steamer Alaska,
which sailed yesterday, carried n very light
cargo, of little rising four hundred tons-not
much more than sufficient, with the passen-
ger list, to pay the running expenses notwith-
standing the slaughter of rates, indicated by
the fact that printing paper to the extent of
five hundred bundles for the Morning Call was
taken for two dollar yer bundle Of seventy
pounds, two hundret tses of condensed milk
at one dollar and Sky cents per case, and two
hundred kegs of riyets at two and five-cighth
cents per pound. The remainder of the car
go comprised about the usual assortment of
Of boots and shoes, clothing, dry goods, etc.
The line, it is generally understood, is losing
money, and II is with tho greatest difficulty
the shares of the company can be kept from
declining to still lower depth. In the early
part Of the week IN unsuccessful effort was
made 10 rally the market on the strength of a
petition, which has Just been presented TO
Congress, for additional subsidies, and which,
it was given ont, would be favorubly acted
upon; but after reaching forty-two and three
fOurths, il fell back TO forty-one n forty-one
and three-fourhs. II is freely predicted that
the price is bound to 90 TO twenty. ! learn
from Director of the Company that the 18TH
mus line is 10 be discontinued in the Spring
and portion of the ships and other assets OF
the concern are to be disposed Of, if nothing
turns up in their favor in the meanwhile; that
is ! suppose, if Congress does not respond to
the pathetic appeal for subsidies
But the retirement the Pacific Mail will not
leave the route wholly uncovered, as learn
from the best authority that the Panama Rail-
road Company contemplate putting on line
Of cheap propellers as soon as the present oc-
cupants of the Toutc get out Of the way
There is good and sufficient reason TO believe
that the Railroad Company have been delib-
eratcly working 10 drive the Mail Company
from the route, and that the rates have been
purpOscly kept mp with this end in view The
Pacific Mail Company have repeatedly but
vainly besOught the Panama people for some
concessions, before aud since the completion
of the Pacific railroad. in order that the steam
crs might have some show; but the reply in
vnriably wns that they (thc Panama Compa-
N.Y. held the key to the commerce of the 18TH
mus, and dIl not propose to surrender 1t:
that the steam traffic was TO the road n mere
bagUtClc! All well informed business men
know this To be simply untrue; that tho steam
line, prior 10 last year, furnished fully five
cighths of the whole traffic Of tho Panama Rail-
| rsEd Company. In fact that company now
/ admit that such was the real percentage But
| the Panama folks, in their vnulting ambition
To XII! the steam line, have fallen on the other
/ side. The Directors now not only admit that
| the last dividend was not earned, but plainly
intimate that the stockholders need not look
/ for any further disbursements of equal
1
or the traffic which they have so remorselessly
turned into other channels. II is no wonder.
under the circumstances, that Panama shares
have fallen from two nifty to one sixty in a
short time, nor that the tendency should still
| bc downward.
In view Of the probable carly retirement of
| the Pacific Mail Line from the lsthmus route,
| the Company have concluded not to send out
| further supplies Of coal, except such as may
he required for the Chinese line. The conl
shipped the other day by three ships, ria the
] Cape at the extremely low rate of five dollars
without primngc md with brokerage, was fo,
the Mail Company. Apropos Of that opera
| ton, learn that the owners of one of tho
ships that is to take portion Of this conl. telo
! grnphod from Boston TO the agent yesterday
| giving said agent a sharp blowing up" foI
thus slaughtCring rates; tho agent pluckily re-
piled "that if the owners did not like it they
might withdraw their ship'-.which they con
cludod not TO do. This looks as though I'll,
limo agents, who have so long been controlled
10y owners were about tn have little some
thing to say about their own business in fu
ture.-Ne,o. York correspondent San Francisco
! Bulletin, 2lsiiW.