New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-17
FLOOD OF sT0CK-JOBBING RUMORs-PACIFIC MAIL
THE AUTHORIZATION COMMITTEE.

FLOOD OF sT0CK-JOBBING RUMORs-PACIFIC MAIL
THE ANTIISFLATIoS COMMITTEE.
A Hood of new stories filed the channels Of
speculation yesterday, and, acted upon by weak and
nervous operators there heavy pressure to sell,
winch broke the market, aud sent prices down from To
4 per cent. The main feature OF tho stories
was TO the effect that a stock opera
tor prominent from bis relations with Commodore
vanderbilt had sold 1900 shares of Western Uaion,
and 1t was Immediately inferred that the Commodore
was getting out" Another story was of moro
serious character. and alleged that there had been a
heavy deiacaton in prominent Western railroad.
Indeed, the name and amount were mentioned, the
latter being estimated as high rs s3OO0O); but a.
there nothing corroboratve OF tho story.
and the officers denied that there was anything
wrong in their concern, THE TRIBUNE wthholds
the name Of the company. Senator Carpenters resou
tons on the Cuban question also had depressing effect
and the continued agitation OF the currency question
Under these hagn lnienceS Rock Island Declined from
1909 to 98i Western Union declined from ~ 10 IA New
York Central from 9o 70 90 Lake Shore from 76 to "a.
Northwest rom "a to 5la; Ugoa PaelnG IRON SSs 10
344i c., C.. aud l. c. from 3ls to 5Os Paclhc Mail
iron from 45i to ~ Panama from ilC5 to o lS7.
ton OF ITS floating property There were orepofs hat
ton with the Union Pacific would not be
Panama also suffered from the last report; Inc most
cent severe naval disasters and the general sense OF m
security concerning property or the company
known 10 be IN such unSeaWOtny cOnulOn as tue spS
OF the Pacific Mail fleet, at time when the best seagO-
vessels OF tho great Atlantic lines were undergoing
such repeated disasters.
The rumor that the Senate Committee on Commerce
would report unanimously against the continuance OF
the subsidy not known in the Street until after tue
close business t Il said that the Company are about
bring suit against the agent who lobbled through
the subsidy, and his attorneys nave teie
graphed HIM 10 return. when they hint that he
VIII make "A clean breast of the whole Washing
ton business and give the and amounts
President sage the Pacific Mail Company said that
the proposal Withdraw the subsidy was nothing more
than a stock obbng artlfce or the bears to depress
the stock He expected, however. that when the Com
pauy nut their into action that Congress
would hold the Company to technical adherence 10
months.
The action OF the English Erie shareholders. in en-
bargoing the funds derived from the sale or TIE new
bonds now in theicare OF the LondJn Banking AssOca-
ton, created considerable comment.
Tie Ant-niitiOn Committee OF Merchants and others
met Yesterday the Chamber OF Commerce. 10 complete
arrangements before proceeding 10 Washington to SUB
nit their petition and views TO the President asking
him 10 veto the Imitation bill. There were presen6
CYRUS W. Field, James NJ. Brown, +. >. WINSTON
Charles Lanier, Benz II. Field, Henry N Ia
Dor, VIM. A. Booth aud many others, Tue
signatures attached TO the petition represent over $780,
100000 II arranged that portion ~ the Commit
teo should leave in the train, while the remainder
would leave at D. IN. They Will assemble at the AIRING
ton House to-day at a. IN, anu tnen eau upon thc
President. Nj. Field Is to present the petition