The morning call., 1893-06-08
LOST THOUSANDS.
Balances Show Monop=
oly's Downfall.
FREIGHT BUSINESS SLACK,
Central Americans VIII Ship by Euro.
pean Vessels if the Navigation
Company Be Not Supported.

The Pacific Mail Steamship Company
came out at the small end of the horn in
last years business transactions. 1t is
loser 1857 6S, mostly since the North
American Navigation Company began to
make heavy inroads on the monopoly's
freight receipts.
Ihe total earnings of the Pacific Mail
Steamship Company for the year ending
April 80, 1898, were S4.11S.473 93 Total
expenditures, S4,175, 214 81. Net loss,
$50, 74O 6S.
During the twelve months previous to
April 80. 1892, the company profted to the
extent OF several hundred thousand dol
lars.
The Pacific Mail is on its last legs.
The S56,O00 loss was caused by a falling
off in Central American and through bus
iness with Panama. This is shown by the
eompany's books to have been very heavy
during January, February and March of
this year The dec rease in Central
American business has been about "a per
cent, while through business has vanished
almost entirely
Notwithstanding that the company's
Wayport steamers down south have not
as yet been troubled with much competi-
tion, their traffic has decreased 20 per cent.
A letter was received yesterday by a
local firm from DR.. de la Carta in New
York, saying that Huntington is in no way
interested IN the scheme of building rail
road from Guatemala City TO Port Bar
rios.
Furthermore" says the doctor, who is
interested in the Port Barrios road and
has property in Salvador and Guatemala.
'lf by chance the Panama Railroad should
form a combination with the Pacific Mail
Company, the merchants and planters of
Central America will subsidize line of
waypOrt steamers in opposition to the
Pacific Mail and ship all their coffee in for
eigD tramp steamers. Central America
has had enough of the Pacific Mail Steam
ship Company, and If the merchants of
San Francisco cannot support line of
their own. Central Americans will do the
work for them"
Traffic Manager Leeds said Yesterday
that there was no fear Of the Panama
Railroad receding from its contract with
tNe North American Navigation Company.
He stated that he believed that the Pacific
Mail Company was going to give up its
Atlantic coast service al ogether.
Other officers of the Traffic Association
think the Pacific Mail is practically out of
the fight, and will eventually have to
abandon is Panama route on the Pacific
side II the new company makes a deal to
catch Central American wayport traffic.
1nere IS more Irelght Tor the heweenaW
than the vessel will be able to carry away
on her next trip south. The immense
amount of freight for Central America
goes to prove that orders from that sec
ton CT the country are still being placed
Ia San Francisco.
Late adyices are to the effect that much
Of the coffee held over for the North
American Navigation Compauy's steamers
had TO be shipped by foreign vessels, as it
was not deemed advisable to hold 1t too
long. owing to the unsettled condition OF
;he Eastern coffee market But when the
Saturn comes up, If she will stop at
Central American ports, there will be a
good lot of freight for her.
She ste amer City of New York will sail
or her bluff trip" to China to-day. China
tEpSe. is, comparatively light. The Mail
cAWpany and the Occidental and Oriental
Lfhs have more vessels on now than are
needed to handle the traffic.
1t may be the intention of the Mail CON-
pany TO get the New York on the other
side Of the globe and then sell or charter
her. 1t is estimated that it will cost tn e
monopoly a good many thousands of OIL
lars to make good its claims that the New
York was pressed into the China trade be-
cause business on that line Is so brisk.
The New Y ork will take on her Chinese
crew to-day, and be ready for sea by 9
o'clock.