Martinsburg independent. [volume] (Martinsburg, W. Va.) 1875-1900, 1876-09-02
The Grain Trade-Tho Rail-
way War.
[From the Baltimore SUM-

AS in other cities, the grain
traffic fell off in New York for the
week ending July 20, and has not
recovered since. The cause in the
decline of receipts is attributed in
some quarters, to the fact that the
western farmers were busy win
their harvests, and, in other .uar.
tiers, to the detention Of car nv the
glut of grain at the var ans termi-
nj of the roads, and eha indisposi-
ton OF the shipr-s rs to make any
more consigr- nents until the glut
was rene ved. The enormous re-
cent '.4lcrease Of grain at the four
Atlantic ports is undoubtedly at
I tributable to a very great extent
to the wal between the great rail-
! ways to the West, and the low
through rates adopted by the COM
peting and belligerent lines. In tho
struggle for business these rates
have been reduced SO low as to be
unfemunerative. Instead Of being
beneficial to any one but dealers
in and shippers Of grain and ocean
carriers, they have really worked
injury. Losing q large part OF
their usual profits by their COM
petitive reduction of rates, all the
belligerant railroads have been
compelled to reduce their current
expenses. If they had not done so,
the anxious and unhappy stock
holders would have felt the cOnse-
quence of the war in diminished
MISUNDERSTANDING will still feel
it in some quarters. But tbs i'm
mediate effect of the war upon the
holders of railway stocks and
bonds is as nothing compared with
its all pervading influence upon
innumerable ether interests, and
thereby adding to and perpetual
ing the business depression pre-
vailing throughout the country.
1t must be obvious, moreover,tO
the most superficial observer, that
it is impossible that the many hum
dreds of millions of capital invest
ed in the railroads of the country
can GO without remunerative re-
turns for any length of time and
not work grave injury to Others
Not only will the needed capital
be withheld from the building OF
other railroads of importance, but
all the workmen and mechanics of
the roads, and all the industries
otherwise connected with the ope-
ration of railways, will suffer-
Then all along the great lines of
railway where industry and pros
perity have hitherto gone hand in
hand, there will be, Indeed, there
is already, want and suffering
among hundreds and thousands
who, in the past, by the disburse-
ment of their wages, have been
profitable customers to local pro-
ducers, and to town and country
merchants, furniture dealers, hat
ters and tradesmen of various
kinds. And this is the effect of q
railway war precipitated upon
competing roads by the vain effort
of Mr.. Vanderbilt to restore to
New York the grain trade which
is now shared by other cities.
AS was said in the Sun q short
time ago, the unremunerative
through freight rates now pre-
vailing are of advantage to no one,
and are working great injury to
the country at large. Fair rates,
SO as to give a fair return on the
I capital invested, and enable the
companies to keep up a prudent
expenditure in wages, maintain an
ample number of employees in
all departments, and make such
| purchases of material and equip
| ment as will keep other industries
active-this policy is tho best for
all. Indeed, from the vast Rum-
Der of artisans and workingmen
thrown out of employment by the
general depression in business it
is the necessity of the hour. Lead
ing railway men and business
| houses at the West emphatically
express the same opinion, West
ern shippers themselves also CEN
| cur in the view that paying rates TO
| the transportation liues are mot
| only necessary to the proper main
tenance of the lines, but arc bsne-
| fetal to all other business interests
in any way connected with their
| operations.
The influence Of railways upon
| the general trade of a country
| from the vast sums they disburse
annually through a multitude of
channels-is immense. A war,
therefore, between leading lines
is felt in many unexpected quar-
tiers. 1t compels the belligerent
companies to husband their re-
ceipts and cut down their expenses
by discharging great numbers OF
mechanics and workingmen, and
by reducing the wages or salary of