New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-01-20
STOCK EXCHANGE SUBJECTS.

PLANS OF THE wABAsH RAILROAD COMPANY-LAKE
SHORE LrTIGArIoN-TuE OUTLOOK IN PACIFIC
MAIL
Prices On the Stock Exchange were depressed
Yesterday by influences OF kind impair confidence.
The steamer City OF Picking OF the Pacific Mail Com
pany reported to have broken her propeller. and
this report acted the stock OF
the Company The proposition TO the stockholders and
Dondholders of the Wabash Railroad 10 take up the
new bonds, and thus allow the Company to meet
Its interest and other Obligations has not resulted in
any subscriptions IA yet Inasmuch as the market
price bonds very low not expected that the
bonds will be taken up at par; should the proposition
fail as now probable, the directors will probably
make another appeal to those holding large quantities
of the securities It will be proposed to fund the ma
tuning coupons into securities running several years
ana In the time 70 devote the income OF the road
to paying It's floating Indebtedness.
The Lake Shore Railroad litigation a general
topic discussion IN the street yesterday At time
during the day it reported that the Injunction suit
had been adjourned until Feb u.s. the understanding
Comp any TO be allowed TO pay lts dividend
condition the OF g. 100000 in securities were
deposited with Trust Company to await the
result OF the suit Late sdvices, however brought
the intelligence that Judge Tappen bad heard
the argument. but reserved his decision. In
this connection 10 was autboritatlvey stated
that Daniel Drew has bound himself In writing
to pay William r Travers 81 cent on 5000 shares OF
Lake suore stock II dividend paid Uy the Com
pany before March l. 1t is ase stated on the same
authority that Mr.. Drew has made q somewhat similar
contract with l. b. Musgrave Co. OF No. 10 BrOads
the difference beng that In the latter MI Drew
will pay per 1850 shares OF stock in tho event
Of a default IN the dividend by the Company before
March
The bull" SPECTATOR who failed recently Is reputed
bv his friends have lest only small sum cOmpdra
lively, while Otner persons assert that lac lost vast
amounts ON his "pu.s"
A meeting OF the Pacific Mail Steamship Directors
will be held to-day. Tho question of tue subsidy and
cussed. There il apparent desire to maintain har
mORy and TO keep every one IN GOOD
humOr until Congress Las acted with
respect tie subsidy. IL IL not expected that the
attempt force RUFUS Hdon to resign Will be revived
az least present John Roacn's contract for the
two additional steamers IL nkely 10 cause some trouble
as soon the present complications arc settled Al
though Mr. Roach Is not pressing this contract yet II
understood tnat lie does not reliHqus his rlghtS
under t. Russell Sage, the President Of the Com
panY. and f A. Alexandra, the present President,
Tspudate CONTRACT and that It null ana VOID
from the fact that the additional subsidy was
not Obtaihcd within the time epeeied joan Roach
Yesterday mad a conference with DromiiHent
stakeholder OF the Company who hiss recently retired
from tie direction, relation 20 tho vessels winch.
II s acknowledged contracted for with Mr Roach
There OF these steamers Que OF which IL well
under way The counsel Of MI ROae's adviser was
that ne should only finish the steamer which had
been begun, and defer the cOnstruc iOn OF the ~"
others until The company Is IN position 10 pay Ior
them and use them prOfitaby. What MT Roach wid do
IN the matter lie not yeJ known.