Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1874-01-13
LATEST TELEGRAMS.
NEW YORK.

New YORK, January l3.-The steam
ship China, which sailed from Yoko-
homa December for San Francisco, and
whose uon-arrival at that port caused
some uneasiness, was spoken to Dec.
Is by the Great Republic, which left
San Francisco December l for Hong
Kong, where she arrived on the 9TH OF
January. The China sailed with 40
steerage passengers and probably light
cargo. In the telegram conveying the
above information there Is no mention
made of cabin passengers being on
board. Officers of the Pacific Mail Co.
here state that, although the China is
some twelve days overdue, they dc not
feel any great anxiety, as the Great Re-
public experienced very heavy weather
They are of the opinion that her ma
ohinsry has been disabled, and that she
will be heard from at the Sandwich
Islands.
The annual meeting Of the American
Geographical Society takes place this
evening at the hall of the Historical
Society. The President, Chief Justice
Day, will deliver the annual address, the
subject being The geographical work
of the world for 1873" comprising new
discoveries on sea and land. The elec.
ton for 1874 will also take place.
The secretary of the Railway Associa-
ton Of America has sent circular, on
the establishment of a railway clearing
house for the United States and Canada,
to various railway managers in the
country to elliott their opinions
on the subject, and to offer questions
as to its praeticability. The system of
through freight aud passenger accounts
at present adopted on the railroads Of
the country, involves, it is claimed, q
great deal ofduplioate labor and expense
for books and stationery that might be
avoided by the establishment of clear
ing-house for the purpose of apportion-
ing the receipts coming from traffic pass
ing through the hands Of two or more
companies. The circular details the
mode Of making a clearing house, and
points out the advantages to be derived
from its establishment The keeping Of
accounts Of each line would be much
simplifed and done in much more modi.
fed manner. The business Of the clear
ing-house would be to divide gross re-
ceipts and to declare balances aud make
settlements. The circular comba,s the
idea that the extent Of territory ia too
great TO come within the scope Of one
clearinghouse. and says all that is re-
CURED is a proportionate staff.
Wall street markets closed strong yes
terday. and higher prices ia stocks are
predicted. In reference ta the Pacific
Mail Steamship Co. here there is some
speculation in reference TO the repeal by
Congress Of the subsidy act in favor Of
The company. The general feeling
among bankers aud brokers is that the
subsidy cannot be allowed 10 be with
drawn; that paSlic sentiment would for
bid the withdrawal Of aid from the
only American line Of ocean steamers.
One Of the directors Of the company,
however, thinks it is not improbable
thai an effort would be made By the
GoyernmeHt y reduce expenses, and
that the subsidy aei might be repealed.
BE had heard that aa effort IN that direc-
ton would be made, bat he looked upon
It as = matter OF no importance as affect
ing the financial condition Of The com
paHy.