The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-09-02
WALL STREET NOTES.


PROBABLE RESUMPTION OF THE BANK OF CALI
FoRNIA-THE STORY OF TELEGRAPH CONSOLE
DATIoN FROM A MEMBER OF THE EXECUTIVE
COMMITTEE -sUDDEN DEATH OF STOCK
BRoKER-oDDs AND ENDS.
Most encouraging news received by telegraph from
California yesterday regard the resumption of the
Bank of California l. would idle to say that these
reports we're not without their effect Prices the
Stock Exchange, after having declined in the carly
morning trades, stnened in later dealings and the
market closed decidedly strong private despatch
from San Francisco shown which indicated that
Messrs. Mills Sharon, Kecne Baldwin Cohen and others
would advance sufficient capital to set the
WHEELS OF THE GREAT BANK
again in motion As far as could be ascertaned there
have been some private transactions California
mining stocks, the principal change being in Consol-
dated Virginia, at 225 1t having sold at 2o7 the day be-
fore the Bank of California suspended
TELEGRAPH DISPUTE.
The dispute among the telegraph people occupies the
usual prominence among Wall street dealers. Ycster-
day the Western Union Company held private meet
ing and nothing could be learned the transactions
in secret session. HERALD representative waited on
of the Executive Committee, Mr. Frank Work,
the Broad street banker, and furnished with the
following information: -"Some time since Mr.. Jay
Gould-in his own ACKNOWLEDGEMENTS proposition TO
the Western Union Telegraph to appoint conference
committee to meet n like COMMITTEES from the Atlantic
and Pacific Telegraph Company in order If possible TO
arrange terms for consolidation. The committee ap.
pointed by the Western Unon according to this re-
quest, consisted of Ex-Governor Morgan, Mr. Durkec
and myself to meet Mr. Sydney Dillon and A. J. Syms
on the part OF the other company We acceded to their
propositions e. to recommend to our board the pur-
If tbair lima M i,ta az
per cent 81 500 600 Of their capital This was
quasi agreement and honorable intention part
To-day meeting of the Western Union Company
took place and from reports heard that the
Atlantic and Pacific Company did not intend to keep
faith with us, but not word was mentioned in the
Board about the company Jay Gould We transacted
our business II no such corporation individual
listed 1t is understood however that after the session
of the directors Mr.. Orion received communication
from Mr. Gould, in which withdrawal Of all negota-
lions made thus abrogating their proposition,
one that had never been invited by us, and to which
did not in any way respond by the courtesy
usual among boards Of direction governing the same
interests"
SUDDEN DEATH OF A STOCK BROKER.
The flag of the Exchange yesterday at halfmast
in honor of Mn o. w. c. Shack whose sudden death at
his residence, No. 173 Madison avenue the cause
highly esteemed member of the Board OF Brokers' and
the shock of his demise occasioned the greater regret
nasmuch as he transacting business and seemed in
full health twenty -four hours before his death.
NOTES.
As intimated in this column yesterday, the New
Jersey and New York Railway Company paid promptly
the interest on their outstanding bonds This company
has dispute with the Erie, whose road they
from the junction to Pavonia ferry. While forwarding
their passengers by the New Jersey Midland they
have appealed TO the Chancellor OF New Jersey for
tement OF the matter in dispute with the Erie
According to the statements gwen in the HERALD
yesterday and which to be confirmed by the
OF the stock market the questions long pending between
the Panama Railroad and the Pacific Mail Steamship
companies seem TO have been finally settled. BY the
of the agreement the business of both companies
comprising the earnings freight and passenger
Rage is To be divided or the business TO California the
Panama company is to receive onefourth and the Pacific
Mail three tourhs The Central America business is Ia
be divided that the Panama will third
and the Pacific Mail two-thirds The business Pana-
ma is to be divided equally between the companies.
The agreement is for five years. dating from March l.
1875
Yesterday the interest of the second and third
gage Erie bonds being paid by the Treasurer Of
company.
OTHER ASSIGNMENTS.
Friend Pitts, Broadway merchant, made assign
ment and filed his schedule yesterday. Liabilities,
$l5 $50 or assets 81, 3s2 SLOT which IS $50 81 Is
considered good.
The Boston and Charleston Steamship Company have
made assignment for the benefit OF their creditors
the assignee being Thomas N Hampstead