The New York herald., 1875-10-20
WALL STREET NOTES.

NO MISSOURI PACIFIC REPORT YET-THE
HERALDs EXPOSE OF WESTERN UNIoN-sALE
OF FOUR PACIFIC MAIL STEAMERS.
Yesterday the Conference Committee Of the Pacific
Railway Of Missouri at the Offices Of the Atlantic
and Pacific Railroad Company, in the Drexel Building
in order consider what should be taken to
resuscate rehablitate the former corporation The
session was private, and il finally decided that
nothing should be given TO the press until report
erenso was ready to be made public This is the third
fourth meeting Of this committee and its confer
have far resulted in nothing AS an ndi-
cation OF what their report will be when pre-
sented il may be remarked that the stock Of
the company declined one per while they were in
session
WESTERN UNION wATERED STOCK
affair which given exclusively in this column Of the
HERALD yesterday created a profound impression in
Wall street and the theme Of conversation IN nearly
all the brokers' Offices The inquiry would be per-
tnent If one OF the assets OF the company, like the
Gold and Stock Telegraph has been far over-estl-
mated by the directors in their report might II not be
well TO overhaul all the other items President Or
toms satementP In reference to this matter an old
director who admits the HERALD statement 70 DC true
in the main, writes thus 20 correct misapprehen-
SION
understand that the expose OF the fictitious char
has been made 70 the Gold ana STOCK company uaue
with the Union, does not altogether 40 justice
to the Gold ana wesoTn s,oGn SJ8iop did no, pay
any money TO the Gold and Stock Company
for the A. 600 shares which Mr. orton represents
az worth par-sl l00-yet the privileges In
regard to use Of Western Union wires all over the coun
try together with the income derived from distribution
OF the commercial news are worth at least 81 600 600
to the Gold and Stock Company. As have no desire
to 10 injustice the Western Union or its auxiliary,
the Gold ana Stock Company, give them the benefit
m enbnvp sta
bad enough.
sALK or MAIL STEAMERS,
The directors or the above company yesterday
to ratfy the sale to the Militia Bitche Company Of their
old wooden sdewheel steamers Of the Shanghai line.
The following the names Of the vessels;-Costa
Rca oregonian, Golden Ago and Nevada
correspondent sends the following in reference to
this natter
Pacific Mail has been active and strong the re-
ported sale by the company ofts Shanghai line consist
ing OF four steamers and property at Shanghai Hogo
and NagaskL The history OF the negotiation for
the of the line to the Japanese would be interest
ing illustrating the shrewdness OF the Japanese but
ii probably viii be permitted TO be known. How
ever, this much is posve-it is now something ike
eight months since negotiations were commenced on
basis Of 81 500 900 for the line after apparently
successful negotiation at 800 000 about six months
since, the Pacific Mail Company have gradually re-
duced their pretensons until we believe the sale TO have
been finally made at $780, 200, less commission and
charges provided there is no further mishap. This
line has heretofore been feeder the main China line
at Okohalna, bringing 10 tnat port teas, from
Shanghai and Hiogo which were transferred at Yoko-
hama the steamer bound from Hong Kong TO San
Francisco the Of freight being the same from
Shanghai as from Hong Kong II remains to be seen
whether the line will accept Its proper proportion
OF three four cents per pound from Shanghai to New
York railroad from San Francisco careful calcu-
laton OF the value Of the property OF the company II all
sold at the rate as this line has been, would pro
bat very small percentage for the stock after the
payment of the company's debts; yet because the
company had succeeded in selling a portion OF its
property at less than half what 1t asked only eight
months ago. all Vail street to-day was crazy 10 buy the
stock.
SHORE RAILROAD
advanced in price yesterday the fact being established
that ali nharmonious relations had ceased with the
Michigan Central and Canada Southern 1t is said the
late 'sbears" free purchasers Of the stock espe
ciay as is pretty well established that the movement
OF grain the seaboard from the West promises to
commence at once andibe very heavy.
The arst mortgage bondholders Of the New Jersey
Midland Railroad will meet to consider plan OF fore
closure tomorrow Thursday, at twelve O'Clock noon,
at No. 81 Liberty street.
merchants OF No 132 Front street. who lately
obliged 10 announce their suspension, meet at three
O'Clock. The liabilities understood to be about
1915 ooo great deal OF sympathy felt for the firm
in their misortunes especially among their Canadian
clients
The Delaware and Lackawanna and Delaware and
Hudson companies have voluntarily lessened their
tonnage for fortnight, to enable the Lehigh Valley
and Central New Jersey TO bring theirs up All the
great producers the combination Tor regulating
both production and prices.