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Show Tlie Pacific Hall xntt 1'itiiuuia OlIlvreuueH. New York, 22, Tribune to day: Captain Babcock, president of the Pacific Mail, doesn't regard tho situation situa-tion ol of! ire growing out of tbe demand de-mand of tbe Panama railroad aa eeri oub, yet at a rueeting of the board the committee reported progress, and was instructed to proceed with tbe nego tiationa. Husaid: "Toe committee is composed of myself and another gentleman, and the whole matter has been lelt in my bauds fur further negotiations. There ia no likolibood of open hostilities between the two companies. We are willing to pay the Panama what we think we can,, and have a fair profit. Yesterday tbe directors of the Panama lipid a hng session, and liaally dec id id to reler matter back to a epecUl cummit -for further ntgyiintiiH.c It w jlj "4 the two cu(nniittei;3 will !i a few days. r., . |