The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-12-17


School will be now and forever cleared fron
Y all colored candidates, or it will be broken up
which Of the two that is the question.
Money Kings Preparing for the Bushes
r Future.
Whatever may be the thought Of the futur
7 of American business and industry by tn
general public, there can be no question as t,
the views held by our great money kings ant
capitalists on that subject. At time whel
the country is barely commencing to recove
from the effects of the late crisis, they mani
fest an amount of enterprise, energy and con
fidence which is remarkable under the circum
stances. Men like Vanderbilt, A. A. Lowe
the Aspinwalls, Huntingdon aud others, in
GLIDING the redoubtable Thomas Scott, are
spending millions of dollars in extending and
improving the grand network Of railroads
which stretch from New York over the entire
continent, and in improving the terminal
facilities of our city. Mr. Vanderbilt makes
no secret that it is the ambition OF his life to
live to see the new double or four-track line
Of rails laid on the New York Central and in
full operation. And certainly the ability to
worthy the highest honor.
And the construction Of this work even
from New York to Chicago is a grand under
taking, and will revolutionize all our theories
OF transportation. For a railroad with four
separate tracks, two each way, and trains run
ming on them night and day, at given rate
Of speed, and with no possibility of collision,
| there seems no limit to its possibilities. Yet
this is what the digging and mining of Fourth
Avenue means. 1t extends more or less for
| hundreds Of miles into the interior, requiring
har and mi 1c tf,
render the whole complete.
From this until the LIST Of January the pre-
parations for business changes will be on an
astounding scale. It has already come under
our notice that changes are contemplated in
the dry goods trade Of this city involving
total Of s25,OOO,OOO. Changes to cores
ponding extent are in progress in other trades.
New firms have been recognized on the bases
of old ones, with an infusion of new blood,
energy and capital. There are vague but Wig
orously we'll founded anticipations Of similar
movements in other important branches of
business. For one thing, the resumption of
specie payments by the Federal Government
is regarded as foregone conclusion, induc-
ing corresponding changes in business. For
these alterations new men and capital are re-
quired. Probably an estimate OF hundred
millions as the total amount of capital repre-
scented in the firms Of this city undergoing
change would not vary materially from the
correct figures.
1t is difficult to determine the effects of this
unsettled condition of affairs upon actual
business operations, although there can be no
doubt that they exercise an important in
fuence on quotations. At New Years, all
firms desire to make as large returns Of cash
as possible, and this year the new houses
would naturally desire to make favorable
exhibit, and would consent to deductions for
cash which, under other circumstances, would
not be entertained.
The importance of the future commerce of
New York was still further attested during the
week by the negotiations between the Pacific
Railroad and steamship companies respect
lively; and the conference between Commodore
Vanderbilt, Mr. Jewett Of the Erie, and Col
Scott Of the Pennsylvania railroads, with Mr..
Garrett, president Of the Baltimore ana Ohio
Railroad. In both cases the grand object was
the New York carrying trade.
In the Pacific Railroad question the chief
difficulty arose from tendency Of tea and the |
lighter and more costly articles Of merchan-
disc to be shipped by railroad across the con- |
tinent. while the bulkier and less profitable !
class Of goods was sent by the steamer. Toe
steamship company wants the railroad COM
pany to divide the profits, and on its refusal |
threatened to carry no goods in connection |
with the railroad. The railroad company in
retaliation threatens to start an opposition
line of steamers. The difficulties between
the railroad magnates are somewhat similar.
The Baltimore nnd Ohio Railroad insisted ~
q condition Of adopting the New York rate
that the New York companies should abolish
the fast freight monopoies which are said 10
eat up the profits of Stockholders: Nj: Gar
rrtt certainly seems right in this; but Messrs.
Vanderbilt, Jewett md Scott refused. and re-
turned to New York on fast time.
Of course the competition Of the great
capitalists and rnilroad presidents are not
dictated by any philanthropic or patriotic
desires to promote the trade Of New York.
But they cannot enrich themselves without
providing facilities for increasing the wealth
Of this city, and their enterprise in this
respect at least shows that they have faith in
the prosperity of New York, and that its
streets are far from being destined to cecome
a favorite resort for Texas steers.-Ne,c York;
Economist
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