New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-24

cative concerning the matter but is undersoou tua
several months been granted to stoekwe In Whleh
In mi the stock and receive his SsG0O0 worth OF notes
| and mortgages.
! RAILROAD INTERESTS DEPRESSED.
EFFECT or THE FINANCIAL TROUBLES ON THE
CARRYING TRADE-FALIING OFF IN THE EAST
| WARD TRAFFIC-REDUCTIoN IN MEN AND WAGES.
The business of the railroads has been al
fected by the financial troubles, and considerable
reduction In their expenses il threatened On some
lines the number OF and the amount Of wages have
already been considerably reduced, and upon others
similar action has either decided upon or n under
consideration part OF tho managers try to CLOAK the
fact or TO conceal the extent Of the depression ID thr
business and the amount OF their retrehchmehtS'
TRIBUNE reporter yesterday visited the
Offices of the chief railroads which have stations
IN this CITY, and cOnversed the subject with the
officers At the Office Of the Delaware Lackawanna and
Western he was told that the troubles attending the
panic, the disturbance OF the exchanges an over te
country the dimnutOn ~ the amount OF transporta-
ton and the difficulty IN making collections had com
peIled the management to reduce by 10 per cent the
wages Of all abOreTs and TO make stu larger reductions
in other departments OF work on the whole ne from
uoboken 70 OsweRo aud all the branches. This re-
duction went into effect Oct IS The number OF men EN-
Moved has also much reduced The falling of in
freight had been larger Tor freight bound westward IMAM
for that FROM the West II the exchanges shoud become
change for the better the Winter will be very hard for
the RAILWAYS Most OF the Pennsylvania hncs,
and other roads az well have cut of work
men and wages and the rest cannot fan to follow
John Taylor Johnston, President Of the Ncw-Jersey
Central said that the effect Of the depression had been
TO hasten the annual Autumn reduction OF wages ana
force 10 the Winter standard The date for the educ
ton is usually December hut this year hxedfo tho
early part of November Ipracucable. the full Winter
number of workmen would he kept but II the dulineSs
continues they will he employed only on part time
The management preferred to have fun force working
short time than deprive many OF them OF WORK aIto
gether As yet the panic bias not injured the business
OF the Central much as that OF some other INES
Shipments from EewYork to the West are hight but the
eastward bound freights sim large. Mr. Johnston
expressed his anticipation that there would he revival
of activity this Winter. When people get over their
fright they will ind they not SO badly of as they
supposed For the present, collections are hard, ana
there is an embarrassment in the relations OF railroads
and shippers With reference TO the difficulty OF getting
cnrrencv 10 nay the men. II said that there had
| been much trouble the New-Jersey Central. Cur
rency had been bought at pr mum and picked up IN
| every way The worry Is now hghtened, and tie men
are paid in full
Col Gorsler, representing the Pennsylvania Central
Railroad at No. III Broadway said that on THAT line
there had been thus far reduction IN the working
force or in wages account Of the falling off IN freight
From several sources he had heard that the NewNOrk
Central had retfenchment in both, and 1t may he
that the Pennsylvania Central will be obliged TO do like
wise IL VIII rather try "a Keep all the men and gave
! them work by the hour II necessary. Whether such
action shall be taken will depend upou the state OF trade
In his opinion trade will grow better before long Pro
duce and grain must come forward from The West II
there is money in New York to them The falling
of in freights has been principally IN those gong
West, and rs the tonnage of eastward bound
freight greater and requires more men to handle IT,
IL has been possible retain the full force
the present time Passenger traffic is good For the
last fortnight it has been better than the preceding.
Troubled times set business travelling. New-York-
ers 20 West 20 look after their debtors. and Western
men come TO NewY York look out for their trade rea
mons and provide for the moving OF their crops Col
lections hard for railways. which have an
advantage other classes OF creditors because they
can hold back goods until payment is secured The
exceptionally large receipts OF currency on the Penney
yapia Central which carries great many small con
sspments, the charges which are paid in currency
rather than checks have prevented any great trouble In
getting money to pay the men.
Superintendent TOUcey OF the New-fork Central ana
Hudson River Railroad said that the effect OF the panic
had been marked N esseniug the amount OF Western
houpd freight but thar there Is plenty Of business
freights coming eastV arb When asked IL there would
be reduction Of force OF wages on account oil the
lessenng OF business nc said that the annual reench-
ment in numbers and paw 10 brng expenses to Winter
standard, would OF COURSE lhkc
wages is on an about 10 per cent He could give
no exact Of the number OF men taken on but said
that II voud not larger this year account OF the
manic: nor would the reduction OF pay be greater
than usual The average date for the decrease
| ia November l, aud IL will not De fastened this
Fall Tho policy OF the Harlem road IS the same-to
make the regular Autumn decrease and no more unless
occasion shall require. Being asked II had been
discharged for ZACH work replied that the
continually engaging they were needed ana dis
charging them when longer necessary The Central
and the Harlsn would keep up their regular Winter
force AT regular pay there Of
falling on D business thap at present seemed probable.
A TO the scarcity OF currency with which 20
nav workmen he said that the supply for
the Central and Harlem had been secured readily,
because the receipts set aside for that pur-
| nose instead OF being deposited In the banks.
rbs supert1tendent OF the New-YOrk. New-Hs<en aud
Railroad told the reporter that acton IN the
vav Of rerenohment bad yet been taken, but IL had
h.sn ds.ided that there must be reduction either in
umbers or nay Of wOrkmsn Which form 10 would take
oa an what date II would 90 into effect yet to be
! d.cid.d The exact extent Of the reduction also
| ,os,nad stil uncertain. The depression had affected
mos, the heavy freghs his line, such ~ coal IL
lmpossihe 10 tell till the balancesheet OF the month
was made IN whether Eastward or Westward freights
had suffered most Passenger receipts had fallen on
somewhat but not 10 @ serious extent COLLECTIONS
shared In the general difficulties now involving bnsness
transactions Special provision had been mace 10 meet
the wages VI by setting ntide fccelPS ~ 'na
| eno' 20 that tr0nble had been overcome
FROM Whereabouts Robinson and Blanchafd OF Inc
Ere hsread. Information obitsad thai he'gpis "