The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-01-23

Michigan Central. 393s 80 37L 81 81
illinois illinois cen nSai.o $50 81 IS sA sss Sc.
Ga@ns. ...;.... tS5s % 6S 6lh 6s
ESss ,....o. s ~ 1871 @ Ss. s ss
Panama. .12S 1914 LIS 12SH 1907
p Issssn M s':. q. -: -: * * ~ -
There is little change in prices since last week
Some Of the Western shares, such as Galena and
Rock Island, have advanced l 4 per cent.
The advance appears to be due 70 more
general appreciation OF the increased traffic on
those roads, and to the results which must
follow in the shape Of resumption of dividends.
We showed yesterday that the average increase Of
traffic the Galena since Let September last was
twenty three per cent, "a compared with the same
period of 1850; while the increase on the Rock
Island during the same period was thirty per
cent. This increase, it must be noted, is almost
wholly in freight traffic. Nearly all the roads
among others the Galena-are, and have been
| since September, taking less money for passenger
business than they we're in 1859 the failure of
the crops of 1888 having left the Western people
poorer in 1859 than they had been in 1853 or 1857
In q short while the large and excellent crop of
1859 will have been marketed and the price paid
when that is the case the pass niger business the
Western roads will begin to increase. This change
is expected by railroad men to begin about April
next
The movement Of winter produce in the West ia
now large, and the money realized must be con-
siderable. Last week, for instance, Chicago re-
ceived 81 057 bushels Of wheat and 96 1882 bushels
of corn, against 1905 bushels wheat and y2,542
bushels of corn same week last year; 7.4s6 barrels
four against aga same week last year; l3, 4sO
hogs, against 400; and with all other arti-
cles of produce. The shipments show still more
marked discrepancy-last weeks shipments of
grain from Chicago being about ten times the ship
ment Of the corresponding week of 1859. Thus ,ar
it may be remarked, the export demand for Western
produce has been moderate Speculation has put
mp prices just too high to lead heavy shipments
to Europe. But IT, as most authorities 10 the corn
trade assure us Europe should actually need large
supplies of breadstutfs from in April, May I'd
June next, the effect on our Western country will
he very parked; and roads whose traffic has been
increasing at the rate of rs Is per cent, without
passenger business and without high prices Tor
breadstuffs, may once more an era like that of
1856. We give i'll this connection the following in
teresting extract from the Mark Lane Express of
Jan. 2:-
We're this country lett TO the home produce If 1850
would With its increasing population bs much srat-oed
before next Darves Hitherto
has been imported and the stocks Of old un
usually heavy ut the outset in consequence Of two gop
bsFv"s's IN succession, - well noers imports But
low prices invariably Increase the consumption it Is
doubtful whether the stocks of more THAI .-t
tie Increased claims aud dehcien, yield OF last year
Without therefore, continuance Of imports there is
prospect Of being baeban led the OF next mar
vest WI Europe, then, keep up her present supplies?
In France notwithstanding the efforts of "a,
keep down prices. they s.u me deficiency there
is laid at twenty 10 twenty five per cent AMI We look
rather 10 her receiving imports "a the season vsnc
1 Ia the same pd,t,pu u-;.b
prices. Holland, Germany, Russia aud Egypt .arcey
reach an average; and only the small States
ana D,pmark give favor able reports Siutasro Europe
suffered heavily by drought and nlpo- freely ON
Odessa ami Egypt up TO next harvest and with extra
caius from the Meorer, apeaD, toe Black Sea the
Baltic likely to send here freely without higher sar,s?
America with better crop than the last sends little as
YET finding an increased consumption relatively higher
prices than those paid in this country.
| One of the most important movements in the
railway world is the development of the Grand
Trunk Railway Of Canada and its connections. We
have heretofore taken occasion to say that in re-
spect of power, influence, wealth. extent and FL,
ture importance. there is no body on the Continent
that can for moment compare with this British
corporation With its connections, which it con-
| trolls, this company now has q continuous line Of
railroad from Portland. Name, to Detroit, Michigan
1t has also road running from Port Sarnia to
somewhere in the eastern wijds of Lower Canada,
which will shortly he completed to Halifax. IL has
recently bought most of the steamers on Lake On.
tario, and proposes tn control the steamboat bupi
that lake. 1t is DOW said to be in treaty for
the northern branch of the Michigan Southern Rail-
road, which it proposes to compete-so that .
year or two hence, il will direct line of road
from Chicago to Halifax on the one hand. and Chi
csgo to Portland on the other. To these gigantic
| lines Of road, the Grand Trunk company has pro-
vided and 10 providing an intelligent system
Of feeders. Lines running north and south
| in Canada drain the produce of that pro-
vince into the warehouses Of tho Grand
Trunk. And we hear, now, that q scheme
| which was mentioned in these columns . few
| months since-is on foot, by which the Grand
Trunk would lease the Harlem Railroad tn Albany,
and complete 1t to its trank line, 40 rs TO com
msnd the three ports of Halifax, Portland and
New York However exaggerated these projects
may seem, there Is nothing in them which will sur
prise those who are familiar with the history of
| British railways It has always been favorite
maxim with stockholders in sritish roads that
dividend invested in a new connection or extension
was worth two dividends paid. Nothing in the hs-
| tory of the United States railways can compare
with the patient and liberal ouslays which British
stockholders have made for years, in order to Sc
cure paying traffic on their lines.
This Grand Trunk scheme is managed by some
of the first railway men in England, aud the public
| may depend upon it, these men have the nerve
and the experience and the money TO carry out
| their plans. They are now carrying freight over
their road a. of cent ton per ,ne--far less thao
cost. The English plan has bean to carry 1t Tor
nothing rather than bot get IL. II our people are
supine, the traffic be,Seeu the West and the sea
board will, in tve years, be in the hands of this