The New York herald., 1875-08-17
WALL STREET NOTES.

PACIFIC MAIL AGAN-TELEGRAPH RUMoRs-
CONSERVATISM IN BUsINEss-FUNERAL OF
MEMBER OF THE ExCHANGE-CoMMERcIAL
BILLS AND THE RECENT FALUREs-CAIIFoR-
MA STOCK FLUCTUATIONS.
The cause of the weakness of the Pacific Mail Steam
ship Company's stock yesterday induced many in
quires The officers OF the company, upon being ques
toned by the HERALD representative, stated that the
steamship City of Pckng had to undergo some repairs
San Francisco although not of serious expen-
sivc character had been represented. The steamer
had been badly oncercd her FIRST trip and when she
put into the harbor of Rio Janero she found to be
strained amidshps After her arrival at Yokohama
further work done TO enable the ship TO reach
San Francisco, and at this latter port she will have
complete overhauling. Tho estimated cost of the
pairs all tho way from $40 900 to $780, o0o GAS to
any accident the steamship City Of Toxic" said the
HERALDs informant "there is not the slightest founda
ton for such a rumor." The more probable Of
the decline the shares of the company yesterday
rumor that all negotiations looking the harmonious
settlement OF
DIFFICULTIES WITH THE PANAMA RAILROAD
werc broken or Mr. Trenor W Park, President of the
Panama Railroad, is i'll in Vermont. The loan Of
$500 900 which the steamship company the rail-
road comes due the 10Th inst, and these crcum-
stances perhaps induce wall street 10 Wltnnolu avof
from stock which have fallen heir to all
poratc ills.
The telegraph stocks buoyant yesterday owing
10 rumors of consolidation and the establishment Of
higher rates. 1t semi-on1caly announced both by
Western Union and the Atlantic and Pacific
Telegraph Company, that on and after the 10th
inst there would be advance TO the rates as they
existed prior February 15 In cases this makes
difference of forty per cent.
PRINCIPAL STOCK MANIPULAroR
OF Wall street inducing artificial activity in western
Union by freely selling puts against the stock at
per cent below the market price II is not known
whether his brokers sold the STOCK at the time
not.
FUNERAL SAMUEL LOCKWOOD
The flag of tho Exchange yesterday at half-mast
in honor of this popular member OF tho stock Board
whose death noticed in this column. His funeral
took place yesterday at ST. AIMS church. Eighteenth
street. between Fifth and Sixth The space in
side of tho communion rail was filled with beautiful
flowers. The services conducted by Rev. DR.. Gal
audet and the Rev Mr. Watson, Of New Rochelle after
which those present filed past the caskct the lid Of
which open, and gazed on the remains large
number Of merchants bankers and members of the
Stock Exchange present. and tho following gen.
tlcmcn were pail bearers -Messrs T. s. Barry, John
d. Wilson, 5. T. Lppincott, c. n. Raymond and c. L.
Camman The incrment was in Woodawn Cemetery.
The outlook OF general business Is encouraging and
in view of the carly movement Of the crops and the
opening of the fall trade the four great trunk lines
have advanced their rates OF freight, as already
nounccd in these columns and working harmo-
nously in the old grooves.
HEALTHY CONSERVATISM
is marking general business since the recent failures
both England and this country and both exchange
bankers and exporters bills will be closely scru
timed than formerly. All kinds Of accommodation
paper will be thrown out of the consideration of capt.
taiss, and any bills Of exchange without the bills Of
lading attached will meet with no favor.
suA