Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1885-09-10

EAsTERS
The Central Paeiae'. Meaey.

The Central Parine,. Meaey.
WASHINGTON, Sept second Comp
sroller Maynard has made q report 70
the Secretary Of the Treasury. on the
application OF O. +. Harrington. Of the
Central Pacific Railroad, to have the
compensation earned by the company
in the Government service over the
non Subsidized portion of its line and
lines paid over 20 the company. He
SAYS that prior TO June q, 1873, the Gov
erumeut had held all compensation due
the company for Government transport
alton and applied II as required by the
provisions of the Thurman act of 1873
ono half to the exsinguishmeRs of in
tsrest on Government Subsidy bonds.
and one half credited to the sinking
fund Pursuant 10 the decision Of the
Fir4 Comptroller, Secretary Foiger on
that date made an order that thereafter
only that portion of the earnings OF the
company in the Government service
which accrued upon the bonded portion
of their reads should be retained by
the Secretary Of the Treasury under the
Thurman act, and that the remainder,
which constitutes the larger part, should
be paid over to the company. This
practice was followed until January IL,
1884, when the Secretary issued another
order suspendine the operation of the
order OF June n, 1888. until Congress
should have an opportunity TO legislate
on the subject, and directing the ac
couRtinR officers not to make any dispo-
sition Of the amounts found due the
company for transportation over the
non Subsidized portion Of their line.
Congress omitted to take any action,
and while about $900, 200 Of earnings
had accrued which remained undis-
posed of under the latter order of the
Secretary. the Second Comptroller
recon- nends that both orders be re-
versed, and that the practice which pre-
vailed before the adoption of these
orders be revived and continued, and
that the amount above stated, which
had accrued and remained in suspense
after the latter order had been issued
be covered into the treasury aud applied
- required by the Thurman act. He is
OF the opinion that section 2 of this act
relates to ell earnings of the company
in Government service, and requires the
whole amount of compensation due
therefore to be withheld by the Secre
tary OF the Treasury, and one half ap-
piled to the payment Of accrued inter-
est on Government aid bends, and the
other half placed to the credit of the
sinking fund. The Comptroller says
the company will sustain no loss in
consequence of this disposition Of the
money. The whole amount will be ap
piled, either presently or ultimately, to
the payment of their Indebtedness to
the United States, while security will be
insured to the Government.
wall street Qussatiens.
NEw YORK. Sept. 9.-Paciic 6's l28,
American Express 81, Canada Pa
cifio 45ls, Canada Southern 36. Cen
tral Paoitic 37,s. Burlington l2Sll Lack
awanna 9S&. Denver 4 kio Grande
II, Erie l54, Kansas q Texas 23A,
Lake Shore 20, Louisville 4 Mash
Vile AZ. Michigan Central 62,
Northern Pacific 20sk, Northern Pa
oific preferred 45Js,. Northwestern 955s,
New York Central 97Z, Oregon Rail
way and Navigation 79]S, Oregon
Transoontinental l91s. Oregon Improve
ment z3, Pacific Mail %, Panama IS.
Rock Island 1l8, st. Panl 75ss. Texas
Pacific l7L. Union Pacific 49,. United
States Express 631S. Wells Fargo 1l+,
Western Union e9x.
The stock List.
NEw YORK. Sept. s.-Governments
dull. The strong feature in today's
stock market has been the trading in
Union Pacific, accompanied by flood
Of rumors regarding the payment of the
oompany's floating debt, the fact about
which, AZ nearly as could be learned,
being that the UHion Pacific has dis
posed of some OF ths securities held by
it to banking houses in Boston. on
which 1t realized abost x6000.00. The
stock opened at 49,, and advanced 10
5i1S on heavy covering of shorts and
buying for turn. Later the stock be-
came feverish and finally weak, selling
down TO so before 2 s'clook. In the
last hour 1t rallied TO 601S, and closed
finally at 80, o net advance Of ~ per
cent. II 10 uRderstood that the money
which ID to be replaced BY the bonds
spld has been borrowed BY the company
at per oen5. per amman, while Il sold
bonds which bear 8 per cent. Fixed
charges will Be increased about $500,
900. The rest of the market responded
sluggishly to the advance in Union Pa
cific, aud with the exception OF meder
ate business in Laokawsnna and st.
Paul sales were for small amounts. and
In most cases fluctuations were within
the range of per cent. There was con.
siderable feverishnesa On the general
libt % The opening, bus before the end
a fhe first houf the market became
more steady and Arm, and so continued
until after l o'olosk. Daring the re-
msinder Of the day all the early ad-
vances we're lost In a majority Of cases,
and for some stocks the lowest prices
we're made near the close.
A steamer Accepted.
WASHINGTON. Sept. "a special com
mittee appointed to inspect the light
house steamer Msdrons has recon-
ueuded ito acceptance by the light
house beard. The COMMITTEES report
that In her trial trip on the Delaware
river she worked smoothly and we'll.
and developed q speed Of over twelve
knots an hour. that she showed no struc
turai weakness nor tbs least vibration
from any esuss. The vessel vas built
at eoss q eB, 100 fos service on the
Paaide oosaA.
Wsrk 10 Ne Ressaed % the Caiifsr.
MA 4 oregsa-
NKw YsRK. Sept. 9.-At the offioe OF
the Central Pacific IL 10 learned that
work 10 about 10 be resumed on the Cal
ifosoia 4 usseon line, eounecttne San
EeaaUnos vioh portiand. work Wne