New-York tribune., 1876-06-27
10. .e29 2 lss $50 213s. .s5S 2,96i.2is 9.So2.22l

During the week ending May 27, New Ork
handled SO per cent of all corn forwarded 10
the Atlantic ports; during the next week
| % per cent during the next week IL
per cent and during the last week reported
| only 13 per cent. A more astonishing decline,
a more disheartening defeat IN competition, has
rarely been recorded in commercial statistics.
The returns for the week ending June "a Will
be awaited with some interest. During the
nine weeks ending June II, since the railway
war began New York has received 4,oSl'o
bushels of corn Baltimore, Alto, 700 bushels
Philadelphia, 5,77O,700 bushels; and Boston,
9, 2,OOS,415 bushels. Last year, during the same
weeks. New-York secured about 3S per cent Oh
all corn sent to the seaports, and TINS year IL
receives only 25 per cent. This, 1t must DE
confessed, does not look as if unlimited COM
petition was the one thing altogether lovely
for which Ncw-Yorll dealers should increasingly
pray, and on account of which, when obtained,
they should offer up fcrvent thanksgiVlngs 10
Commodore Vanderbilt
II is lust to observe, however, that the era
of sharp competition has not been disastrous
to New York in the movement OF wheat
or other grain. 1t has been often ex-
at Eastern markets is so largely for domestic
consumption, its movement is less readily
Influenced by those differences in terminal
facilities which have been so fatal to the corn
trade of New-York. The market for Hour
also, Is so largely in and near New-fork ana
to the northwafd of this city. and the effect
of reshipment upon the market value of that
article is so considerable that its movement Is
with difficulty diverted to southern routes. BE
the cause what it may, this city has gained
handsomely during the railway war III guam
thy of flour and wheat received, and has lost
nothing in oats, barley, or rye. Boston, the chief
competitor in the movement of flour, Is recely-
ing less than ii was two months ago, and mas
recently been passed by Montreal, which stlll
gets only about one-third as much aS tins
city. Philadelphia and Baltimore average less
than 10000 barrels weekly, with no great
variation. In wheat NewYork has gained
very largely, from $1,000 bushels in the
week ending April 22 to 1903 bushels
in the week ending June 3 and though the
last two weeks show decrease, a similar de-
cline is noted in receipts at other points. Dur
ing nine weeks New-York has handled two
thirds of all the wheat sent to the scaports,
and much larger proportion than 1t received
prior to the railway war, or during the corre-
spending period of last year.
Corn is the weak spot. New-fork cannot
afford to lose the large traffic in this important
product which il formerly enjoyed. The causes
of the decline are mainly two, change IN the
nature of competition between the canals and
the railways, and lack of proper facilities for
economical handling at this point. Upon the
latter vt is not necessary to dwell III the
business men OF this city have not already
been taught by the lab0rs of the TranSporta-
ton Association, the Produce Exchange, and
the Chamber of Commerce, and by bitter eN-
pcrence. that they cannot hope to retain the
corn traffic unless they prepare at once to
handle shipments rs promptly and economi-
cally IA any other seaport, then they deserve
TO lose the immense trade which that traffic
brings with it, The other cause, however, is
less generally observed Within the last two
wears the railroads have been carrying at rates
| as low as the canal transporters can afford to
make Formerly corn WAS held i'll great
| quantities until navigation opened, because, on
| account of its lower value, it could not bear
| as well as wheat small difference in the cost
of Transportation, and when it came forward,
| chiefly by canal the greater portion naturally
reached New-Y York. Now the railways carry
mt such rates that large share of the corn
| is diverted from the canals and seeks that
port which it can reach, and at which it can
, be handled ut lowest cost. The sharper the
| connections the more fatal it is to New York,
| if local charges here remain higher than ut
| other points.