, 1875-10-22
How Wall Street Beat tho Baltimore &
Ohio Railway.
Philadelphia Banks...Unnk and
Exchange Rates.
The Produce Markets Generally Easler-..
Pork Weak.
Grain 1pll-Largo Shipments Of Wheat
Provided For.
FINANCIAL

Ths reotfs Of tho West will remember how thdy ro-
lotead oret the opening Of tho
BALT1MoRE OHIO RAILWAY
70 this cl5 nearly two Year, ago; how molly this limo
fought tho Hcu York monopollsts; and how tbat tho
cheap tho route forccd upon liz competitors
saved 70 Tho West At loast SO 100 0 during the year
1871 Our poople wers that much richer iA rurso and
property by this conpetstlon and everybody throw up
lis hat for the Da1tiors Ohio. It gave promise OF
proving permanent b1essinR to our people. How
greatly they wers essounded faw months ago when
a Al thu railway ceaaod, IL also wsl
bered; but tho
WALL ErnEEr Tn1cK,
by which Vanderbilt forced compromise, IA not gem
orally known. We give the faea related 10 by
gentleman welt acquainted with tho ways that aro
dark Of tho Wall street sharks For long limo pro-
vous to the compromise the paper Of tho baltimore
Ohio had been favorable investment at about per
cent rather 1t tho rate of per cent per annu dis.
count. The ROAD had borrowed souao &, ooo1 or
tooo 900 to build s Chicago extension. Tho Va'er-
tilt illtonaises, finding they coull not brosFcas tiar
rett inlo terns and convinced that bot policy Dtet
To adopted, or tuc per cent dividends
on their fraudulc1tly watercd rtocks would
be gone, one morning ono Of thfsn money
t!ngs gato bis brotpt SO, 100 Of Baltimore Ohio
paper, and having instructed him how 10 do II. tho
broker went to leading banker and said, ado you
want 10 buy Baltimore h Ohio paper as II per cent
oH7" Astounded, Of course tho banker fail :" No!
WhatA the nlattcr7 Nhats broko?' "Oh Tho rola is
going 10 tho bad fast possible II Is dead broke,
beyond hope. Coinpctitlou and reckless management
have ruined H. The trick won-of cnursa 1t did,
Wall street ehlvered all Eobcty wonld buy tho
payer at any price. Van.erl6 scntls. and GarrGtts
Directors took tho matter into thclE own hands and
forced compromise. Recent Developments show
that tho baltimore h Ohio has stricken hands With The
Rraepng Now York monopol!sta ami ean no ionRcr lo
relied upon as q cheap Inc, md therefore
the faynr!to Of the WeHt. Tie people wil!
oo sgain under tho grinding tyranny Of
Vanderbilt and must look for relief to tho enlarge
ment Of tho wclanl Cannl or The extension Of tho
Grand Trunk 10 this city, 10 l!ne hu!t for
rash 10 tho sesboa.d. That Ayarico Htll in tho end
ovsrrach tsef thrrc cannot bo particle Of doubt;
but II La to be feared that high freIghta and immense
pronta will act uon the managers Of The Baltimore
Ike human hood upon the instincts Of sls tiger, and
lint II will In The future only gtye cheap frc'Ghs
Ind passenger rates Thcn forced to do It BY ao1t
l'ettuR route,
DUa1NEas At TIE rAxKs
was by no meana acliyc might be supposed. Tho
magnificent weather does not srem to infuua any
trs activity in banking operations. The demand for
money Ia steady Tather than pressing. Country or
derb, ~ might be expected, arc rather largcr owing
doubtless 10 ane weather and actiya shipments
Of produce to this CITY, The demand from city custo
ers moderate Thongh money II cotcr nll The le8ti
mate demands OF business promptly mot Tho
discount rate With ue1sy a the banks III 10 rer cant,
End Arm. We hear again to-day that one two banks
would bc gla1 10 loan round lots on Government or
nscr approved colatcrns, call abort time, At ca
7por cent. Transactions fow and unfmIortaut.
Street rasos nominal 1t oalS por cont. business not
vcry hcslyc.
The exchange market Is still fat and dropping The
rnlo to-day was Bo875o discount PR $,,t0o. lIost
transactions madn at about co. With tendency IN
tho lower hgurc. OF eourto the fart Indicates grow
ing scarcity Of currency, which sone Of tho banks
psi1{ fnhf