The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-05-05

continue 10 deprecatc long the freight compet
ton continues. The bonds are not Affected 80 much
because doubts that all good roads VIII be able
TO the their mortgages but rs by
means that dividends be paid the stock,
and. therefore, as capital Is sensitive, at the hrss
runors OF rivalry among tho great common carriers,
timid stockt odcrs throw their shares the market
As you ask for my opinion rs 10 the gravity OF the SIT
uation, will frankly that believe this 10
most serious; but think the end OF It will be final
settlement Of the many vcxed questions among the
roads as TO the proper and equitable be charged
by each
Mr.. f.. S. JaGfay the eminent dry goods merchant,
was waited on for his views on the impending strng.
war viii Affect the dry goods trade very materially,
People have not money TO spend and, therefore, VIII
not order goods simply because ireishts are low.'
AMONG THE RAILWAY OFFICES.
Mr. H. J. Jewett the receiver OF tho Erie road. was
found In the offices OF the company at tho foot OF
Duane street lie said that far as he knew there
no now developments yesterday in regard to the
unpleasant situation oil the roads toward each other
The public already fully informed, by the pub
lshed correspondence OF the attitude OF all the CON-
panics and be could add nothing more He not
advised whether the Grand Trunk road in Boston had
made reduction In passenger iares from that city 10
The freight and passenger ofncc or the Erie CON-
pany at No. sos broadway was viseu There was con-
siderable hustle at tho desks, but the reporter In
formed that official notice had been received thcre
OF the rumorcd reduction; he believed so far II only
affected bound froghts Tho passenger also
stated that he had been ordered reduce fares
the West. yet according 10 rumor u might be ordered
at any moment
The Baltimore and Ohio Offices at No ans Broadway
Eecmcd engage actively the services Of many clerks
but tho reaht agent here repeated what was learned
the Erie Office, that official notification had yet
been received their company TO reduce fares and
freights.
From another source II was learned that so bitter in
the West Is tho competition that uto last week tho
Great Western Michigan Central and New York Cen
trail, which close connections con rsced TO trans
port 800 900 bushels OF grain from Chicago to New
YORK twenty per 100 pounds A. this rate the
Great Western nctted exactly 81 so per load after
paying bridge tolls at Black Rock, Buffalo, the
distance ravcrscd being 229 miles In other words,
hauled loaded NJ less than cen. pcr mile
Before the opening Of navigation in the lakes
many Chicago merchants, anticipating high tariffs
by rail, chartered vessels and loaded them with
grain storage. They are paying from flvc
u ten hundred more than tho
rent rates, and losing time, interest and IN.
About 500, 600 bushels OF grain a1oat
in the lakes. The old ratio from Chicago for grain
Especial class freight thrtynvc cents. With tho
exception OF the no.cd above the lowest
yet contracted for is twenty-five and half cents.
Late in the day the report was current that tho
Grand Trunk road mad reduced It's fare to Chicago to
$li from Boston, and that tho New York roads would
follow in a reduction TO sl2 but this lacked con1rma-
ton. Tho new movements OF the struggling giants
will, however, be watched with lively interest