The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-01-12
WALL STREET NOTES.

ANOTHER REVOLUTION IN PACIFIC MArL-SAG1
BACK AND RUFUS STRENGTHENED BY
pRoTaER-cAS IT BE CONSIDERED BUBYNo
OF THE HArcHET-AS INJUNCTION IN LAKE
sHoaE-THg BANK OF ENGLAND STATEMENT.
TIE street furnished no fresh sensation yester-
day other than what ripple or excitement might
have been occasioned by the announcement thai
Russell Sage had again entered the Pacific Mall
direction. The immediate inquiry there, upon
THIS an announcement. was. what Is going 10 become
OF Runs N tins conjuncture To that 1t was an
swered, Way. Aber, Hatch. brother OIL
Rufus, has entered the direction simultane-
ous.y with Mr.. Sage's reinstatement which
may be taken as proof positive thai
sage and RUFUS have agreed TO bury the
hatcher. Suca Is the mysterious civIzine
influence OF Congressional committee These
two appointments are supposed 10 represent
gravi,auon OF interest, IN which next years sub
sidy has an important bearing, and whether Nj.
IRWIN or Mr.. Schumacher mako damaging disclo-
sures respecting the Stocxwen ADMINISTRATOR, II
Is expected that
THE SAGE ADMINISTRATION
VIII be enabled 10 get q clean piil that will justify
q continued appropriation 10 the revised execu,
tive. IL will be noticed IN this investigation that
the whole responsibility OF this expenditure is pm,
upon the stockweil administration. The admins.
from biemish; so II Is clear that it NAV
argue relief from the errors OF Its predecessors.
When we recol,ect that Mr.. Sage and Rufus ex.
changed explosive adectives the other day con
an,ore, and that nothing new in their personal re.
latons has since occurred. IL win be seen that the
street is right In regarding the new arrangement
as
AN ALLIANCE "oFpENsIvE AND DEFENSIVE"
Mr.. Sage was evidently becom ny dangerous
crh- Al NJ INC
dated him. Rufus acquiesced. The actual changes
which took place IN the Pacific Mail direction yes
terday, pat In Official form, the resignation Of
Mr.. Trenor W. Park. In whose place Mr.. Sage was
elected. and the election OF Mr.. Albert Hatch to
MI the vacancy occasioned by the withdrawal OF
MIR. S. Fogg. The statement currently given thar
Messrs. Guion and Alexandra HAD resigned was
wholly without foundation.
THE LAKE SHORE DIVIDEND.
An injunction was asked for yesterday from
Judge Tappan, OF the Supreme Court In the
Brooklyn Circuit, and It Is said blamed restrain
ing the Lake shore Railroad Company from the
payment OF their recently declared dividend OF az
per cent upon submitted earnings The paintin IN
the case Is Jacob Rubno. aad he complains tnat In
virtue OF the obligations imposed upon the Lake
Shore COMPANY in their recent and pending nego.
tatlons OF a SIS. ooo.ooo consolidated loan, ne ia
being deirauded OF his rights. Mr.. Rollins claims
that the $4,000 O0O loan, devised to consolidate
former loans upon different stretches OF road,
pany and the Unicn Trust Company OF New YORK,
as guarantor oil the conditions OF the loan, made
hen upon the Toadoed; ~, me aS ana an
ranchise) visible to such credltorship. The plain
un IN TINS application iurtner asserts that
Shore Company aud the Union Trust Company,
the latter accepted tine trust for the creditors
only, upon the execution or mortgage guaran-
teeing such lien wi n right OF collection, and q
further engagements that a fund OF s35o,O0o should
be provided annually for ts relief its equivalent
in the purchase OF outstanding bonds for the
redemption Of WHICH the consolidated loan had had
present apeca Hs1'0 0' RuOno IS based
npon the allegation that neither has
the OF ysssy pSGgded un a.
nor has any purchase and cancellation been made
as an alternative. Hence IN view OF the TACT that
Trust COMPANY the latter holds the power q
virtual foreclosure In default OF the nay ments
holder, that the Lake shore Company be re.
strained from the payment Of dividend until y
has o SscsSsa Of its dsns x
%%ssss this Of nn SrsS
was made before Judge Tappan. IN Brooklyn, yes
terdav. and 1t was currently stated to nave been
granted-indeed o local paper In Brooklyn says
veloped the iac that yesterday, at all events, the
as the Lake Shore dividend is not payable until
February. Mr.. Rollins has time enough yet to
make his point and ger out II he feels SO inclined.
ATLANTIC AND PACIFIC TELEGRAPH
went or yesterday afternoon upon despatch that
was circulated on the street TO the lolowine
eject
ST. JOHNS. N. F.. Jan. II, 1875
Nothing has been heard OF the Direct Cable CompanvS
faradHy she put sea twenty-four days
ago to try pick her cable and finish laying to the
shore Il IL opposed that she has home steamers
arriving here from europe report having experienced
very stormy weather
Much interest is felt on the street In respect TO
the relation OF this despatch to Western Union a.
well as to Atlantic and Pacific.
MORE CLEARING Up.
Mr.. Rush C. Hawkins we'll known as religious
propagandlst. even to the extent OF subsidzlng-
or, rather. attempting to-tne press, states that
there will lie o meeting OF the nrst mort gage
boudhOders OF the Joliet and Northern Railroad
Company next week In this city.
RAILWAY EARNINGS.
The Daily BuiIetin furnishes an advanced copy
of the lollo wing compilation =