, 1873-09-29
nHE RAILROADS..

TIE CHICAGO, ALTON Ut. LoUlh hoAo'
T, Blackstone, prosidont Of tho Chicago, !
Alton & St. Louis 1taitroad, OIL being intor-
viewed by a reporter, stated that tholr
freight business Ind fallen OF immensely sinco
tho eotting In Of the panic. Before tho proHent
oxcitonont they wero running rs freight trainH.
wl,ito now thoy only run about so trains day.
THIS reduction hus noeoaBtatcd afroady tho dis
charge Of about 200 nou, and, should tho panic
continue much longer, tho aorvices OF many
othora would have to bo dispensed with. Stock
shipments had entirely ceased, md tho business
in grain and produce had greatly fa1lon Of. They
wore still bringing Ill about 200 carloads OF grain
d day. ..-.-.--,
THE MICHIGAN souTHEnN.
u. n. Gray. General Freight Agent Of tho
Michigan Southern Ruilroad, stated that all their
larger shipments had been checked, because tho
ehippors could not draw on New York yot they
continue to run the samo number OF trains as
before tic panic, although tho trains aro much
smaller. They hnyc not yot discharged any OF
their men, aud will discharge mono unless tie
panic should continue for d considerable length
Of tmo. Ho has no doubt that tho present
panic is tho roaut OF cur rotton state of iuanclal
affairs, and under 1t auch panice may occur
again at any moment. Under the pres-
ent system banks may suspend and reaums
again at will, thus throwing all buslness
aud commercial interests into confusion. With
spccie basis such nets would be considered
acts Of bankruptcy. Now was tho timo to ro-
sumo specie payment; thoro would not bo
another such chance i'll f1ttoon years.
THE ROCK ISLAND ROAD.
Mr.. Louis Yicle, General Freight Agont OF
tho Chicago, Rock Island Il Pacific Railroad, on
boing asked by reporter, "1Iow is your freight
busiuesa2" answered, ut is going to hi as
faBt as It Gnu" h1r. Violo stated that ho telo-
grnphcd to all the agents yesterday to stop all
shipments Of grain and produce (stock ship
mont had already been stopped several days ago).
They had takon Off their freight srains, a1ld
discharged thus far about 500 men. Ho was IN
hopes that this panic would be over In 8 few
days. If not tho railroads and tho banks would
| "go up together. "
AIr, Hugh riddle, tito General Superintendent
| Of the Chicago l. Rock Islnnd was also waited
upon. Ho statcd TINT it was uBolosB for them
stances unlor which tho country was iaborllng,
aud they lad, therefore, stopped their
freight business. He was IN hopos, nevertho-
loss, TINT. with tho resumption of banks, their
over. In regard to iluancoa, MIR. Riddle did not
| like to express an opinion he WIS moro OF o
railroad man, llo said, than h'lancor.
THE nuRL1SoToN 4 QUINCY.
I D. III. walker, LH4., lFCBuGIL VI kut NAithto,
| Burlington Il Quincy lailroal. stated that they
wore still running their usual number Of freight
trains thougll tie Trains wcro much Hulallor
than usual. Tloy wore still moving everything
oacopt cattle II partoB had no Honoy to pay
| for their freight, they were receiving gratn III
payment ut market rates. Had not yet dis-
charged any Of their mon, and didn't intond to,
unloBs tho panic continued SOME time longer.
If their present means OF sransportasion
should fail them, they would provide
soulo other measures for tho shipment OF grain
aud produce. They would continue their freight
business conc what may md ut all hazards. lie
thought business would become bctter III very
fow days. ......,-
i TIE ILLINOIS CENTRAL.
hfr. Mitchell, tho Superintendent OF tho I'LL
nois Central Tailroad, stated TINT ho had glye1
ordors to reduce their force in accordance witt
the falling OF Of business. lie could not say
how many men had beon discharged thuB far
but thore was considerable number Of theil
1nen out Of employment. They wero still carry
ing everything but stock. 10 hoped this thint
waa nearly over. There was nothing wanting bu
confidence.
THE MICHIGAN CENTRAL.
Mr. H. e. Sargent, General Superintendent O
tho Michigan Central Railroad, stated that dur
ing the last two days their freight men had re
ceiyed no orders for shipments Of city grain
but grain continued to arrive from tho country
and is aont forward in perhnps one-half til
quantity heretofore. They, found themaolvc
. considerably embarrassed III doing businos
. with their customers on account OF tho scarcit
OF money, many Of them having their doposit
! and doing their bnsinoBs with tho banlka whic
hare temporarily suspended. They were run
ming ut thia dato about onG.thira loss throm1is 9
freight trains than last week, and were compelle
to reduce thcir train and working force at tn
west end OF tho road.