New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-07-16
TUESDAY. July 15-P. II.

TUESDAY, July 15-P. NJ.
| Tho general stock speculation has been confident
from the very commencement of business excepting
temporary yield at about p. M, and strong buy
ing movement set in at the beginning of business,
the attendance at the Bourse being larger than on
either of the two or three previous days Instead of
any abatement of the growing faith in the future Of
the leading shares, with Commodore Vanderbilt
once more at the helm Of speculation the reverse s
true of to-days market, and Lake Shore, c. c. and
Ind Central, Telegraph, and Wabash have been
taken In large lines with the result Of an advance OF
to above l per cent all around. Eric has been
considerably frmer under the recovery in London.
Northwestern goes in the process of distribution,
with business to-day at 69.0702 the new Lake Shore
administration, and the opening OF the Canada
Southern road imparting such stimulus to Wabash
as to carry up the price one per cent Pacific Mail
showed large nominal transactions, and the appar-
ent price was in single instance as high as S9s
from 80 the frst price. Here 10 encountered the
result of the deliberations OF the directors at their
meeting to devise means to extricate the Company
from its pressing financial difficulties and 1T was
quickly knocked down TO SSI, and closed heavy,
forming the only weak spot of the entire list. With
reference to the adjustment of the debt due and
claimed by the Union Pacific Railroad Company.
the President was authorized to effect settlement.
| To meet the immediate cash requirements Of the
Company understood to be $4,000 for repairs on
steamers now in use, and $4,000 for taxes and
payment on ships now in process of construction.
the President is given authority to negotiate o
loan of 100000. To raise the sum. use
| will be made Of the real estate held and
owned by the Company at San Francisco.
where 1t is stated that $4,000 of the amount re-
quired can be obtained by paying an extraordinary
high rate of interest. 1t is thought that little
something in the way of material aid may be OBJ
tanned by the sale of the Montana and some Of tho
| steamers now plying between New-York and Aspin-
| wall. In addition to payments on new steamers, it
is understood that the Company need the following
sums to place their old steamers IN seaworthy con-
dition $4,000 for the Constitution SOS 900 for the
| Nebraska, $4,000 for the Dakota, $4,000 for the
Moses Taylor $4,000 for the Henry Chauncey, and
| from $4,000 to $4,000 each of the other boats in
use. The Lsteamers Ocean Queen and Rising Star,
plying between New-York and Aspinwall, win
probably be withdrawn next Winter as unfit for
service, and the old ships of the Company are
deprecating 80 fast that it is highly essential to
get the new feet Of screw steamers aaoat. To
place the entire fleet of eight boats in
running order it will require, according
to estimates about S1,9O0,OOO. To show how
necessary it is that this feet shoud be put aoat
| Is btaUeu tuaJ NtSotb OppObltlOu line
between San Francisco and China are now being
built and equipped in England under the superin-
1 tendenoe of some of the old employees of the
| Pacific Mail; and from an advertisement in Hong
| Kong paper we learn that German opposition line
was to commence running in July, which line con-
sists Of the steamers Thornaby. Anglia Altoona, and
Allemannia. So altogether. the future prospects Of
| Pacific Mail are not brilliant.
Union Pacific was neglected, but steady. Hanni-
bal and st. Joseph made slight advance on yester-
| days price, while Delaware sLackawanna and
Western stiffened up to 1921. OF the Investments
Harlem sold at 129 Chicago and Alton, 1904 New
jersey Central, 1885,. The miscellaneous and ex-
press tbares were quiet aud steady. The general
market closed strong The opening, highest. lowest,
and closing prices Of stock were az follows: