The Pacific Pearl Company. Panama correspondence reports the operation operation at that place ol a company recently orga nized by wealthy capitalists.iu New York, called the Pacific Pearl Company. The company Intends- to operate at the Pearl Islands, about 1 birty miles Iroiii Pauatua. A bubmai ine boat has armed, capable of carrying ten or twelve men at one time, who can woik under tue water for many hours, and so constructed that it can be lowered or hoisted at a moment's notice, aud to arranged that wheu lowered they can open the boat at the bottom, by means of two trap-doors, allowing a 6pace of ten feet square in each, lor working purposes. Tue company expects to commence operations in about a month, aud hopes to realize a fabulous fabulous fortune. Miss Mct'limsey may anticipate an extensive reductiou in the price' of pearls.