New-York tribune., 1875-01-15
LOCAL MISCELLANY.
IcrrY1rY IN FINANCIAL CIRCLES.
PACIFIC MAIL "'HI0T
ERIR RUMORs-RAILwAY LOANS.


ERIR RUMoRs-RAILwAY LOANS.
Aff.irs in Wall-st. were devoid OF special
sxa,,ment yesterday. Pacific Mall did not belle It's
name for onoe and every thing apparently tranquil
us Offices Russell Sage has not revoked his declina
ton of the dreetorshp, although he Is still considering
the subject
Tne principal event Of interest YESTERDAY the
election Of Gen. T. Eckert director. and supse-
quently President of the Atlantic and Pacific rele
graph Company. vice John Dun. who resigned some
time aEo II understood that he will enter upon MS
duties af once. Thomas Eddson OF Newark, n j. VIII
probably be chosen electrician. It Is stated thAs MI
Bidisou has invented a machine which viii transmit
400 words mnute requiring only the services OF one
operator and girl to cut OF the messages when re-
eeived T5e messages received on strip OF paper
similar used in the printing telegraph, with the
exception that the slip is prepared by solution
n chemicals and the electric spark striking the paper
discolOrs so as form the requisite letters Machines
for the equipment OF the Atlantic and Pacific lines be-
tween Washington and Boston have been ordered, and
the experiment. OF telegraphing with them between
those cities will probably be made on Monday. The
Western Union Telegraph Company published the fol-
lowing correspondence growing out Of the resignation
OF Gen Eokert:
DEAR SIR: thereby respectfully resign the positions
of General superintendent Of the Eastern Division OF
tRe Western uaicn Telegraph GompA9y ahu Sson e
graph Company, FAcA rssiS9ano's {! Prr'ef SaOu1'
'AA' eA''' - NV THcs +. EcKERr
Hon. William orion, President
GEN. THOMAS 7. EcKrRr-Dear Sir AT = personal In
tervlew solicited by you yesterday YOU tenaered me
your written resignation as General superintendent Tl
Company. The resignation, which was dated the Stn
hs which desired should take eucct az once
V.s Inc first ntmatiOn OF your purpose tnat had re-
seived In OF the fact. now clearly asc eralned'
mat Whle holding aeon1dentia position with TINS Co
paDv, have been, for some tune past seerel carry
me on negotiations whits enenies aud before tender
your reel Iuaion nad made ARRANGEMENTS 20 accep.
employ the service of the opPosiuOn prOmpu
sOmpy with youT request ana your Feisnh.lOn 9 6ns % Us
ItTucte 70 Ike charge Of your 0ihee and assume Ik
WILLIAM ORION, President
Rupors have been diligently circulated for the past
few days that the litigation between tho Lie Railway
Con,pany and Jay Gould had been amicabiy comprt
,oised II viii be remembered that after the
alleged transfer BY Mr. Gould Of the 50 100000 worth of
sAeurties silt was began against him by the Com
many for an additional 100000 which due to clear
tbe property surrendered Of al incumorances. IL
WAS alleged that this suit had been com
promised. The lawyers on both Sides however
declared that there was truth in the Nego
tiaiiuns bad been pending Out tDey Lave pceu SUN
msrily ended without any other result man th2t OF 10,
,reassd hostility etner SIDE. NOrth-Nest lStlifoau
stock was heavy dispatches from WISCONSIN 70 the
ffcct thar canvass Of the Leglshtue ~ that state
shows that the Potter act cannot he repealed.
II IL announced that the Illinois Central Company
a. rscanfy negotiated In scotland loan of G5OOCCO TO
ike mn the saUe amount OF sterling bonds due IN Lou
Ann on the lst OF Aurl The bonds bear cent
Interest ana have 20 10 run This Company mas
In SINKING funds s. 735O0 pay the balance OF the con
tfrnctOu bonds WAcu also mature On the 1T 0t April
The original debts Of the Company VIII tnen
he maid on with the RECEPTION OF S2,5OCOCO per
eep currency bonds held Ia Amsterdam, winch do not
mature until lS00 II vas stated that bdnhing 1rm
bad Iref aut IN London Sc ooO 900 Of the NewJCrsey
central consolidated first MORTGAGE bonds. having rc
Gently bought from tae Company S,0AOOO or these
bonds TIE Grin 10 question: however denied the trnth
OF he story.
The signing Finance ill hv the President ecits
no coInment A. IL WAC generally known hat lie IN
fyo OF H. II not It's actual merits, at least as party
measure. II had effect Whatever In monetary