New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-06-11
THURSDAY, Juno l0-P. N.

The views expressed by Mr. William II. Wander
bilt. as published in THE TRIBUNE of this morning,
seem to coin eide very closely with those put forth in
this column very frequently during the past few
months. Mr.. V. seems to think that no
attompt viii at present be made to advance
the rates for transportation, as t!s busl-
ness doing viii not warrant it; that each
road il striving to the little business that Is
doing; that the establishment of new lines OF rail-
way at the West would be likely to result IN the loss
of the capital Invested III such enterprise
are already three times too many roads in the west
for the existing business SO far as increase Ofra
road freights during tine season of water navigation
is concerned, M Vanderbilt is no doubt correct in
his views. He further expresses the no doubt sound
opinion that IT, se roads which now free from
debt and "snuen may get through this trouble and
live but the condition of those which are heavily
in debt and not "snug" appears in his view
to be very precarious i'll which view he
is no doubt, again correct. Unfortunately
for tho investor and Spectator, he does
not designate tho roads which are snug
further than TO tell US that Central and Hudson Is
all right and will pay its dividends for this year at
least" Central and Hudson is in frst-class credit,
and for this year at least" can pay dividends
whether it earns them not. Mr.. vanderbilt Is TUT
Their reported saying that unless raiiroads
Id
any other commercial enterprise and arc GER
tain to meet with disastrous end"-a truth
so plain that IFS uterance would hardly seem Justi-
fable except for the benefit of people who seem to
think il impossible for railroad with large receipts
TO do losing business Mr.. Vanderbilt seems to
state the case IN such clear way as to offer no hope
of success to our principal railways until after
revival of business though Messrs. Garrett and
Scott should set tie their local and personal difficulties
We do not synpathize with the onslaughts when
IL j. fashionable TO make upon the President of the
Baltimore and Ohio Railroad, and perhaps would not
even if we could give him credit for producing the
present low rates of freight to and from the W est,
which may be properly regarded as due entirely 10
the low state of trade and the number OF
railways competing for that trade. mat
the Baltimore and Ohio, Chicago branch, gave
to the public lower rates during the past Winter than
they otherwise would have had, is probably true !;
but those were still paying rates to the Baltimore
and Ohio Company, and so they would have been
probably TO the Lake Shore and Central lines had
those roads been capitalized at actual cost instead OF
having been 80 fearfuly "watered." The stock
market opened this morning with a decided tremor
prices declining sharply for the first few moments
but the steady support accorded to Lake Shore raj
lied the market and impaired to 1T firm though
dull tone 1t was not until to-day that the street
was uermitted to know the exact basis upon which
the recent heavy purchases of Lake Shore had been
made 1t turns out to have been upon the conhden-
tl.l advice that distinguished Baltimorean. as the
friend of Mr.. Garrett. and perhaps
equally distinguished gentleman as the friend
of Mr.. Scott, had created themselves
Board of Commissioners to reconcile the existing
differences between the two railroad Presidents. 1t
il understood that neither of the Presidents con-
ar,6 her ia 10
the completion of the arrangements. The price OF
the Lake Shore stock was well sustained at about 81
until quito late in the day, by special Efforts
which were apparent, and which would quite
likely have proved successful to the end
of the day except for serious break
in the Western list induced by reports from Chicago
that the Railroad Commissioners OF Illinois, who
have been in session for several days had completed
their schedule of rates for passengers and frelgts,
and established ranging from 10 to 30 per cent
below the present figures. The decline in the market
was also aided b. the reported failure Of Messrs.
Turner Brothers, with liabilities stated to be for 81
500, 00O This firm suspended some tine SINCE, ana
obtained an extension under which they now finally
succumb by reason Of the decline IL real estate. III
which the firm had largely invested and which 1t Is
now impossible to sell except at the most palpaby
ruinous rates. This house has the sympathy of the
street in its msfortunes. Western Union was espec-
Tally affected by the reported successful laying OF the
direct cable, and closed at its lowest price.
Michigan Central was noticeable for de-
cline of gig per cent on small amount of business
The total business of the day amounted TO 2l9.eOO
shares, of which $4,000 were Western Union. al
74la075La 74ss974saa737s, a decline of Ia pei
cent Atlantic and Pacific Telegraph, 5000 shares
at 26924, q decline Of d per cent; Pacific Mail
5000 shares at 32ig0 $3.50 isa32 l2d 32os, de-
cline of Il per cent Union Pacific, $4,000 shares al
6essa7l la 60ia071 970l 97Oss, gain of y pei
cent; Northwestern, Is, 200 shares at 3Si2S3oa
3803Gla, decline of 2ls per cent; Preferred. 5Oi