The New York herald., 1875-10-22
WALL STREET NOTES.

SOME FACTS ABOUT THE STERLING LOAN ON
PACIFIC MAIL sTocK-THE sTocKwE1L sE.r-
ELEMENT AND A PROMISED STATEMENT FROM
MAY, 1873-A BULL" MARKET, WITH PHIIA-
DELPHIANs PAYING THE PIPER
The statement made exclusively in these Notes or
yesterday OF tho that the Pacific Mail Steamship
Company had negotiated loan with Brown Brothers
Il Co. for 100000 sterling their stock' was the
subject Of much comment in the brokers' offices yes
terday, many designating the report ccndrd trote
bees, "mare's nest" SC II now seems however,
that the only inaccuracy the statement that tho
loan was made on the company's stock instead ob
stock Of the company dn private hands,, and that
the amount OF the sterling loan should have
been f2oo OOo instead of 100000 An evening paper
says:-sThe Immediate of the decline sterling
yesterday the sale OF large amount by leading
bankers on an exchange covering 92ooo 600
II rumored also that the holders of the Pacific Mail
stock borrowed large of exchange to get timO
money" II is uncommon affair In
GREAT STOCK MOVEMENTS
for large loans to made in the indicated be-
sides, 1t shows great shrewdness in the Pacific Mail
'bulls' to have negotiated exchange. II they sold
their gold on Wednesday at ll6H and can cover their
sterling bills within sixty days at profit as s most
likely to be the when the cotton and wheat crops
are moving Europeward, exchange viii tend down.
ward, and they will have the of the money foF
their great operations, for nothing
The determined demand OF the HERALD upon tho
railroad and other corporations for monthly quar-
terly statement Of their business seems likely at
length 10 meet with response. 1t is said the
Pacific Mail directors will issue report and
detailed statement which shall be more than fragment
airy. The document, it is believed, will reveal
CONDITION THE COMPANY
as IL will give the receipts and expenditures Of tho
corporation since the Stockwell administration went
out and the Hatch management went in II the COM
pany-as is now claimed by its frends-has since May
1878 built and equipped eleven iron steamers and
paid for them out of the earnings 1t time the public
and stockholders should be made properly aware OF this
Mr. George s Scott, the Vice President of the COM
pany, sails for Europe tomorrow, Ut rs supposed to
close
THE sTocKwEIL NEGOTIATIONS
There seems be question that the former Pres-
dent has made to the company TO pay large
sum OF money for release from all vexatious tga-
tion on the part OF Pacific Mail directors Stockwel
settles, King the famous lobbyist, may bo in order
next ~
PHrLADELPH1ANs "sHoRr''oF LAKR sHoRK
As indicated in this column, the new pool formed in
Lake Shore and Western Union was ready for work.
1t showed itself yesterday and sent prices up boom
ing as in the bull times previous 10 the panic OF
1873. Certain speculators OF the Quaker CITY
one OF whom Is SAID to be tho brother Oh
the president Of one OF our bankrupt rail-
ways-have been heavily "shortn of Lake Shore
and Western Unlon and yesterday one house
and said they have yet short line Of To- shares
TO cover Names freely used In Wall street
among the brokers' but for obvious reasons they arc
TWO SMALL yArLUREs
took place In the Stock Exchange account or tho
great rise in Lake Shore. The mania for speculation
seems again TO be revived and the rise in Lake Shore
is an example, in the case OF Union Pacific Many
persons who would buy at 50 free purehasers
SO and 60 yesterday The soundes advice 10 men OF
little means is TO let
THE rrrAss on SPECULATION
fight their battles and not aid them by throwing
in slender purses prizes for the vctors on the ed Or
MAInmon.