, 1872-12-07

Branch" 80 miles long, from Cameron to Atchi-
son was built With the proceeds Of one million
Of bonds Issued By the Chicago l. Southwestern
Rock Island Company this one million
the Aschiaon Branch, and second mortsage On On
the main line, and that, in pursuance of the
programme marked out By the "ring." for
gobplins up the Southwestern Railroad, they
would probably make q default on the interest
on this 81 900 of bonds, which would become
cue Dec. 1. We arc now Informed that this ad-
d:tional default has been made.
PROGRESS OF RAILROAD CONSOLIDATION.
Notwithstanding Commodore Vanderbiit's de-
NAL OF any personal connection with tho late
corner in Chicago g. Northwestern, it is now
affirmed by parties who have good reason to
know, that the clique known as the Vanderbilt
party composed Of younger and more active
men than himself, but whose interests are iden-
tical with his, have got control of the North
western stock, and that, as intimated in The
TRIBUNE two months ago, lii. Tracy will
not be the next President of the road,
control of the Northwestern is alleged to be tho
possession Of another link in their great trans
continental line. They already onn the Hudson
River. Newf Central, Lake Shore, and Nichi-
gan Southern. and control the Union Pacific. If
they have now secured the Northwestern, it
gives them 3 continuous line from New York to
Ogden, and, to complete their line to San Fran
cisco, they are said to be moTing in come way
iOl EputlOl " tI6 CEllT2l f2cilc+ e1tOGr DY COL
solidatlon or by getting control Of the stock:
The rise in Rock Island stock is attributed to
movement on the part of the Pennsylraaia
Company for tie control Of the road as contin-
uatlon of their lines TO the Vest, with the object
Of ultimately pushing . line through to the Pa
started before, it is hard to saw what
foundation there may be for it now, but it is not
improbable that Mr.. Tracy will also be
ousted from the Presidency Of the Rock Island
at fHa rav o1onfjc, Ac f,-
management Of the Northwestern has been con-
cerned, it must be acknowledged that, rotwith-
standing his speculations in ths stock, his man
agenent OF the road WAS . vast improvement on
. second-hddle to the Milwaukee d St.
Paul. The election of ar. Tracy broke
up this arrangement and obliged the
nli1waukee & St. Paul to build their new trunk
line, just completed, to Chicago, and thus
ta1y to this city.
The progress Of railroad consolidation indi-
Gated above IN the case OF the Northwestern,
and possibly also IN tho case Of the Rock Island,
sre only fey Of the many indications
consolidated under tie control Of at most three
great cliques: Tie Vanderbilt party, the Penn
sylvania Company, and the baltimore & Ohio.
pared to the other two parties, between whom
Will at last como the great fight for the con-
tIol Of the internal transportation Of the United
s5ates neTf Wien ,shcs ths is , once perfected
the railroads and some politico-military party for
the complete control Of the Government and its
finances. We have from, time to time called at
tention to the tact that tho great disproportion
between the railroad building from here vest
ward, and that from here eastward, was placing
tho Western railroads at the mercy of q few
great trunk lines from here to tho Atlantic sea-
board, and to whom they fall an easy prey.
It is not improbable that the people
viii soon have to take measures for G great free
railroad from Chicago and st. Louis to the At
lantic eeaboa:d, q double-tracE freight railroad,
On which any number Of companies may run
their trains, BY the payment Of q uniform toll.
In conjunction with. this, also, the samo argr-
ments may be used for tie necessity for the En-
largement Of
THE ST. LAWRENCE CANALS.
The e1actions Of the railroads for freights,
from here eastward, this fall, are awakening en-
intereE: in these subjects in the country, an IN
stance OF which may be found in the folowiaz.
letter, from an Illinois farmer:
cREsros, III. Dec 9, 1872.
To the Editor Of Tie Chicago Tribune:
Sic With great pleasure the farmers perusfnc
your articles relating to the enlargement Of the VEL
Ind and St. Lawrence Canals SO as to make them PASS
Importance Ii involves the question Of existence or
nou-ex1stence Of great part Of the nation AZ is
everything must sooner later to stand-stu
Thousands Of enigTants arc constantly coming West
thousands Of acres Of Land yearly brought under
cultivation; thousands Of farmers looking forward
70 their grain crops to pay their hired hnnds their
:aass for their farms for which they are in debt
employment, provided tho prospect for the near
Future does not improve Such tho present position
Of the farming co1a1nanity. And what males this
nnch worse IS to know that it could Ill
Le remedied By the expenditure Of only
81, 100000 on the aboye-named canals. It Is
possible that our Government las overlooked thig7
It strechea the great Republic up to the North Pole by
the expenditure Of millions Of doarE, and will doubt
1ess penetrate the West Indies through the same
the most vital importance to great part Of ths nation.
the construction Of such canal would be Of interest
not only to the Weat, but to the whole Union, make
seaport Of every town and city bordering tho Lakes
be 5elt throughout the length md breadth
receive fair PRICE for his grain, which will give
to the Development Of the immense mining and agri-
cultural sections Of the West Let hope Congress
Will giro this matter the consideration it deserves
that the rre=a will unite in advancing the best interests
o. the people, and the growth Of the Repubic and all
this IN such good real earnest that the great centen-
MAI celebration Of 1876 may BIO lonored not
only only VT Win grand Exposition at Philadelphia,
With the ocsan s"paSSfng WoaS Be the aaa.5s, a5ss
gem in the Of glory surrounding tia American
Aepunlc, and its completion will be said by genera
tions to come to mark new in the history Of An
erica.
Let Us have ship-cana ia the cry Of every man Of
progress. FAR.tEu
LOCAL srocK AND BOND MARKET.
Messrs. Lunt, Preston l. Hean quote az fol-
1sgTs this afternoon:
Buying. Selling.
y: = IS Or Of b.. 1lSz4
Gus OF ~, ex. x.fnt...............I3!5 11335
6-20s Of '6s, OK. x.nt........-......1l3I ll3X
Coos Of 'G5 ex. .int..,....ll33z int. 113sz
5-oos o ct ct q, e., JAM and 3nly.-..-...l5z 1l6