The New York herald., 1872-10-26
HIGHEST AND LOWEST PRI
The following table shows the highest and lowest
prices Of the principal stocks during the day.
IdSC QuOCdVIOH IUr NedUIuB III THIIuue
;ern0on was 116.
THE PACIFIC MAIL SPECULATION.


The announcement that the Pacific Mail Com
pany have increased their capital stock to It's full
complement Of $2O,ooOOoO by the reissue Of the
1880 shares SO long retained In their possession
viii prove startling surprise to those who believed
that the present directory contemplated an opposite
policy and favored a reduction rather than an en-
largement of the capital stock. From the fact that
authority was sought from the Legislature last
Winter to reduce the capital to $10,000,000 the
public had been led to believe that the company
would at no distant day provide for such q reduc-
tion especially the interests ofthe line
likely to be subserved by small than large capt.
tai At the same time the capital OF the Panama
Railroad is to be raised to about 900, SO that
an effort must be made to make the traffic between
New York, San Francisco and China pay dividends
upon $35, 900 900. The inquiry suggests ITSELF
dividends be earned upon such capital In view
OF the great speculation in Pacific Mail shares and
the prevailing eort to enlist the outside public in
1t at the present STAGE these matters
should receive serious consideration. 1t 10 hardly
more than month since Pacific Mail was selling
at 20 IA year ago it sold at Al 49,, and at that
time the floating stock was only $17,2 ,000 with
an expectation in the public mind that the amount
would be reduced to $40, 900 900. The HERALD is
desrous OF acting impartially in this whole ques-
tion and therefore submits both sides Of the case
to the public, giving hrst
WHAT THE COMPANY SAY
in circular distributed TO the press this evening,
as folows:-
The Pacific Mail steamship Company have sold
their q, 800 shares Of stock at par, giving them
'1i'l Tney hold 10000 shares Of Panama Railroad
stock for which they are bid cash to-day 81 600.
They own ten more steamers than they did
they have paid sl,7ooooo on the six new steamers
They are earning more than eleven per cent per
annum exclusive Of their subsidy.
The subsidy OF 81, 900 QUO commences January /,
1879 from which date the company win pay three
per cent quarterly dividends on their gross capital
y they have no steamers which are not in constant
They bought Holidays line Of five steamers on
the Pacific coast, paying $4,000 for them.
The Panama Railroad Company have 100000
o1Ti The Il panama Company intend issuing scrip equal
to the amount OF the stock, and paying the same
ON Il that fnsy ts now pay on tne stock OCH
twenty -four per cent dividend per annum.
HEAR THE OTHER SIDE.
In contrast to the glorious future predicted for
the company we have the following from the COL
umns OF the New York shipping List on the sub
ject OF the tea trade and the Suez Canal
The arrival OF the British steamers Glenartney
Sarpedon and Craigforth from China, within the
terestng subject Of discussion among the importers
who are contrasting the merits OF the two short
| routes from China These steamers made good
| passages the longest sixtyeight days, which in.
ciudes ave stoppages on voyage for coal, &c. Their
| careoes have been delivered In splendid order,
leaving nothing 10 be desired on this point; and,
besides the cost Of freight is less by from two and
half to three cents per pound In gold than BY the
| Railroads. II the succeeding steamers, three in
number now en- route are as successful as
| those already arrived, It may be conceded
will in future secure the greater part OF the trac,
unless the rates OF freight by the other route be
| which shipments by rail are subjected done away
| with. In view Of the profitable outward neights
| now ruling here for European vOyages which are