The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1877-04-05
THE GLOBE, MORNING. 1877.

eral wealthy brokers accused him of bad
! faith in giving out checks without bank
| certi6cation. The failure Ia large, the
| liabilities being estimated at from e400, 900
to 100000. Mr.. Pondir said last evening,
81 will pay 100 cents on the dollar"
Trenor W. Park was sick In his home in
Brooklyn last evening, and was unable to
see anybody personally. He sent down
stairs gentleman connected with the Pan
anna railroad, who said in substance
"This 10, of course, the result Of fight
between the overland route, or the Union
Pacific interest, and the sea route to the
Pacific coast, commenced by the former
through Jay Gould. He is backed by Jim
Keene, who recently arrived east with an
enormous "Bonanzs" fortune and their
attempt to get hold of the route via the 18TH
mus, and thus make monopoly, Is made
clear as daylight by the desperate efforts
they are making to bresk down Pacific
Mail aud Panama stock, which of course
means ousting the men who hold and con-
troll them. Pacific Mail under the present
direction has saved $4,000 month as
compared with the expenses OF the former
direction, end Panama railroad Ia earning
and paying 10 per cent. per snnum. MIR.
Park 10 identified with this route to the
Pacific, and while these desperate at
tempts to break down the stocks of
the Panama railroad have been partially
successful. II Is as yet very uncertain
whether they will entirely succeed. 1t
is at the Panama railroad the stocks are
principally levelled, the raid upon Pacific
mail being only side play. Mr.. Park has
done his utmost to sustain the stock; but
if loans are called in on stock that is worth
much over 25 per cent. more than the
amount loaned the result may be embar-
RAISING. Should Gould succeed in wreck
ing the stock for which at one time he
offered $3.50 share, the result would be q
gigantic monopoly of the freight and pas
senger traffic to the Pacific"
Park has secured the Panama board for
another year by the election yesterday. 1t
is said that he intends to make sure of Pa
cifc Mail also by applying for friendly
receiver, on the ground that II ia In default
Of some of Its floating debt. and that the
application Is 10 be made to the courts at
once.
Well informed operators say that Gould's
victory, in the present state OF sffairs, IL
barren, and that his profits on the bear side
of Panama are exceedingly meagre.
At yesterdays meeting the stockholders
of Panama elected as directors, Messrs. j.
r. Marshal, Frederick Butterfield, Charles
E. Francklyn, John p. Jones, Joseph Og-
den, Samuel O. Thompson, Andrew Bard
man, H. H. Baxter, George A. Hoyt, ].
G. Mccullough, William p. Clyde and
John NJ. Banker, and dividend Of three
per cent, payable on May was declared.
The condition of the road was officially
reported as follows: Receipts for New
York business, $46s,6si.29; receipts in
London, $24S, sos 81, receipts on the 18th
mus and miscellaneous, $l34, $40 10; total.
S46, S68.98. Interest on loans, $105, 200.
subsidy, $4,000; operating expenses,
S161 900; total, $780,, 1000. Net profits.
1856. 9eS. These figures show net profit
of about 81 per cent. on the $1,000, 900
capital stack. The figures are based upon
exact official returns for October. Novem-
Der and December, together with nearly
complete returns for JANUARY and Febru-
airy, and what is professed to be careful
estimate of the business in March.