New-York tribune., 1874-07-07
IRON AND RAILROAD INIERESIS

DHppFssroN or THE WESTERN IRON TRADE-EXCES-
sIyE COMPETITION FROM PARALLEL RAILROAD
Y,NPs-GRoWTH OF A BELIEF THAT RAILROAD
CONSTRUCTION Is AHEAD OF THE WANTS OF THE
COUNTRY.
CLEVELAND, Ohio July 2-Thc general de-
preston of business throughout the country continues
to affect Cleveland in two OF its most important Inter
ess. 1t is q great manufacturing center ana great
railroad center It's manufactures, especially including
all the industries closely connected with the coal
and iron trades are unfavorably affected, almost
much as those in the Mahonng Valeyand around Pitts
burgh Then the railroad business suffers, not only
from tho general depression but also from the exces
siye competition stiBulated by the completion OF rival
lines The Lake Shore, the Cleveland Columbus, Cln-
cinna and indianapolis the Cleveland ana Pittsburgh'
and the Cleveland and Mahouing Railroads, all impor-
tant lines, have their general offices here The last
two are leased with fixed rentals-the PennsyIVa-
MIA Railroad controlling the Cleveland and Puts
burgh, and the Atlantic and Great Western the
mabonine "a Tho others arc operated for the share
holders but the latter don't to have the usual
confidence in the matter Of dividends. The c. C. C. and
l. shows decrease for the first six months OF the year
amounting to nearly s5O1OOO while the decrease on the
Lake Shore is said to be still greater.
Some OF the affecting these results are not ar
TO seek The completion of the Canada Southern Rah-
road from Toledo to Buffalo, and the control OF the
Wab the interest, have diverted great nesl
OF Eastern traffic from the line OF the Lake Shore
between Toledo aud Bufo. The close alliance between
the Atlantic and Great Western and the Erie ROADS
brings them into more dangerous competition Win tne
Lake Shore from Cleveland eastward. The paralys
of the iron trade at Pittsburgh and throughout the
Pennsylvania and Ohio iron region has thrown out OF
employment great many vessels heretpfore employed
in transporting ore from Lake Superior to CleVe-
land These vessels thus forced into competition
with the railroads in carrying grain between Chcago
and Buffalo Grain freights TO the great delgh OF he
Grangers, have thus been forced down 10 81 cents
bushel from Chicago Buffalo, rate almost or quito
unprecedented. At this most inOppOrtune time, the
baltimore and Ohio Railroad, which year since secured
an extension of line from the Ohio River TO Sandusky,
Is now bnlding a parallel road from point s0uth OF
Sandusky into Chicago, the completion OF which Il
Competition on Western freighs. There rumors OF
even other competing lines. the plans for which were
begun before tue pabc although there are few railroad
men who believe that the construction through
this region is already largely III advance OF inc l-
mediate wants OF the country.
1t has come be generally known within few days
past that Mr.. Anasa Stone, jr the exceedingly able
managing director OF the Lake Shore Railroad, some
time ago resigned lis position, and In spite OF the pro-
test of Commodore Vanderbilt and others, Dssted tlat
he should re relieved OF its dates early IN Juy. The
utmost confidence has been felt by railroad men IN Mr.
stones MANAGEMENT and saGlcity and general
regret is expressed at his determination ~ ueche any
work OF railroad management
BUFFALO, July Cit is stated by good authority here
to-day that the Hon. VIM Williams Of Buffalo has been
appointed Managing Director OF the Lake Shore and
Michigan Southern Railway, in place OF Amasa stone,
Jr, resigned.