The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-10-03
WALL STREET NOTES.
UNION PACIFIC AND PACIFIC MAIL.--A SUPPLE
MENTARY STATEMENT FROM MR.. SCOTIA

UNION PACIFIC AND PACIFIC MAIL--A SUPPLE
MENTARY STATEMENT FROM MR.. SCOTIA
NoIsELEss PANIC IN MONTREAL.
Tho stock market yesterday justified all the appre.
tensions expressed in this column that the leaders
Of the bull market selling out their stocks This
was especially noted in Union Pacific which for 4
long time has been held at artacally high ngures by
Gould and his camp followers The shares yesterday,
after pyrotechnc rso to s. fell like lead to 65 Y,
being triae only beyond the lowest price touched on
Friday, when there was panicky condition
OF the stock. Mr. Gould has ogone Westn II is
said with Mr. Dillon and choice few OF the Union Pa
chc directors; but there is history be written in
regard to his departure which may illuminate athe
ways that are dark and tricks that are vain' in
gard to his operations. Missouri Pacific was also .
Ohlnese puzzle to the street. its price recedng to this
lowest point Of yesterday hint thrown out in this
column in regard to the sales by German banking
hrm has been amply confirmed and 1t would not be
amiss holders Of these questionable securities would
nom time to time consult the live newspapers for in
formation in regard TO the dongs of the manipuators
Mr. George s Scott Vice President Of the Pacific Mail
Steamship Company, in obedience TO the HERALD's
structures, has put forth an explanatory card, fol-
OFFICE OF PAcIFIc MAIL STEAMSHIP Company
PIER FOOT OF CANAL STREET Y. r.,
NEW YORK oct. 9 1875
For tho purpose Of replying TO numerous inquiries
called forth by the statement lately made the Board
Of Directors Of this company, desire to say it
not the intention Of the management do other than
oHer comparison between the liabilities Of the
pany as they appear on the books Of the New ork
once TO December and as they existed on the LIST Of
March of the present year.
The intention rather to answer conclusvely the
reports so frequently circulated that the company was
on the eve OF bankruptcy than for any other purpose
After December l the Liabilities may BIO briefly and
generally stated -
100000
Second-Bils for coal, stoTes and supplies for Sep
tember not audited
Ihird-Balance due Messrs John Roach Son, on
delivery of new ships, together with their necessary
OUTFIT, from which latter may be deducted the
earnings Of their trip to San Francisco
The bills Of supplies &C. aggregate about $40 900 per
month
The balance due each ship when completed and
delivered being 1915, 000 without cost of outfit.
In addition to these liabilities there is claim against
the company for taxes which the company's attorneys
are confident will be materially reduced To Offset this
however, the company have in suit very large volume
of CLAIMS with fair prospects OF success The recovery
OF small percentage Of these would more than liqu
date this ''taX abiltyn
In regard to the future of the company 1t may be
reasonably assumed that the earnings for the next
twelve months will at least keep pace with those of the
past five months This would realize the gross of
S6,000,000
With continuance of the present system of manage
ment the total expenses should not exceed sxty-dve
per cent OF the gross earnings which, after reason
able allowance for depreciation, would leave surplus
10 the company OF upward of 81 900 900 the qulda
ton of its Indebtedness
In view of the fact that after December II the COM
pany will effect saving of So 900 gold per month, and
after January II a further sum OF $4,000 gold per
month"; paid for the charters of steamers Vasco dc
Cana and Vancouver, together with the earning
pacity of its three new ships. now dead asset the es
innate of earnings and expenses Is not in my judy
ment an unreasonable one.
No attempt has been made to place valuation on
the company's assets, as any conclusion arrived at
would necessarily be matter of personal opinion and
subject to wide diversity of views Very respectfully
GEORGE S. SCOTT, Vice President.
II is scarcely necessary to reply to such loose docu-
ment this
Gold Suffered up IN the last hours of business on
rumors of more business failures In Boston and q
'noiseess panic' in Montreal.