New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-01-07
Involving a Ioss Of.

Involving loss l4JI4J
Three fourths of this loss S55O0OO would be expert
enced during the fiscal year ending 30th September,
1875, and would Increase estimated deficiency ny
that amount and leave US net revenue barely sutil
ci, pay the cost OF collection and repairs The re-
ducuon Of rolls to their present low rates made neces
sary pay S6l3OC0 Of the canal enlargement dcbt from
proceeds Of deficiency loans running TO- To- am ~
years. This process o. extension was ONLY Completed
the LIST Of October last and would be wise or sails
factory the PAYERS OF this state 10 reduce the
I venues to so low point that within one year rom
that da:e, should lie unable to contribute doaf 20
The slnknE fund fJr the redemption OF the principal
and he obi ged 20 resort TO taxation 10 pay tue interest
OF the sums borrowed The vote on the constitutional
amendments relating the canals. ~ an emphatic ex
preston OF the VIII OF tue taxpayers on the suD"ct
The Constitution declares that shall pay not only
cost OF supelinteudence and repair of the canals
hut also The principal and interest OF the canal deOt
from The revenues Of the canals, anu by the recent
amendments our expenditures Tor ordinary ana eGl
ordinary repairs for any one wear. cannot exceed the
income for Tie previous year Knowing tie sums neces-
sary the constitutional charges on the canals we
are. therefore, bound TO impose such rates OF toll as WI
surely produce an aggregate revenue hucieu1 LOT VIA.
purpose. II the Canal Board recognizes tie authority
which should ltS action III Tie premses there
can be no reduction IN tolls below present rates.
THE BUSINESS SEASON OF 1874.
All canals officially opened by the Canal
Commissioners the 5b OF May and closed ON the 5th
Of December Up to the middle Of August the receipts
from tolls $4,000 IN Of the amount received
for the corresponding period OF 1879 but since that time
10 the close there was falling of OF about slOOO0
wnicn may oe attributed 10 the general depression IN
business and limited demand for ureadstun' al lower
prices than we have known for the last 10 years.
Tie following statements show the receipts and exports
of -four wheat FROM Sept to Dee g. 1874. and
the corresponding period Of s' at the uor' Of New"
York
RECEIPTS
1873. 1879. Deerease;
FOur. bhls.......... l5g2fOO l.33u5UO b--'O
Wheat Lusl....... 10 6e3.2OJ l3.323GOO 6I500JO
Com bush ........ lO.J8j.iUO G596oOO j'1o'VO
lxfoRTs
Flour. bbs......... G9D@OO 500 100 5ilW
Wheat b1h....... 15.3>OlOO S047IOO 6433poO
corn bu,h........ 6.2JOGUO 3IOJ 100 3l412OO
Il Will seen from the foregoing nE1Tes that ne re-
celpts OF wheat ana corn IN Newfork ior the tme
stated abOve-lces than four mOnths-were 9951yO
bushels less thdu the time last year. ana inc
falling or III exports Of the articles was 9j5J,20l
bushels. The condition Of the canals has been good
during the entire season. No breaks nave occurred III
the main canals. and before have we passed
season with 40 little detention. At the close Of navlga
ton almost every boat had reached its destination OF
gone INTO Winter quarters Freghts on the lakes,
canals and river have been low through the season ud
often barely sufficient pay current expenses. Inc
freight rates On wheat by lake anu canal, III
Guiding tOls-three cents and one mill per
bushel-frOm Chicago TO New-YOrk, averaged
cents uushel being cents lower tah ne
average 1873 and cents bushel less than me
average rate Tor 10 years and 1873 mciusivc ON
the whole, this has been unprohtabe year TOT the
fOrWaTder. Respectfully submitted ,,,..
FRANCIS {. THAYER, Auditor.