New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-11-06

Western cities fully % per ceutfIon that of last
Autumn, and the opinion veGtured that its effect
upon the later retail trade Of that section will be
even more serious. Another point beyond the fact
that the extra trading done at the East is so much
taken from the local trade az the home of the yis
tor-but one which vet is probematcal-ls the
suggestion that the majority of cases future econ
omy must be made to pay the extra expenses
incurred 10y the recent pleasure trip. Hence some
thinking peoPle anticipate little Improvement
in the general situation until after the opening
of next Spring. Money during the week has
continued to show a hardening tendency loan
ing al the stock Exchange high as z per cent,
but ruling generally al and > per cent The re-
suits of the withdrawal of bonds from the treasury
held 10 secure National bank note circulation, and
the deposits Of bonds to secure new circu-
lation during the week. will be an increase OF
SO 800 in National bank note circulation, and
decrease 81 81 020 in thar Of legal tenders On the
Stock Exchange the speculation has been droop-
ing one, with partial recovery toward the close.
The nOn-Settlcment of the railroad wal" was the
chief factor in causing sudden decline IN the MD
die Of the we TX, because the ciiques had succeeded
in selling 50 large portion of their holdings on the
general belief that it virtually was ended" that
the opposite resalt generated general selling out
of long stock by the proniscuous spectators The
chques were still large holders and compelled to
come to the rescue of the market Probably these
cliques more fully are coguizant of the supreme
farce Of the recent conference Of railroad officials
than are the generality OF spectators, and probably
none more fully appreciate the small benefit sin
view Of existing contrac,s-tO he derived from n
settlement Of the so-callcd railroad war; than do
themselves. We, their speculative position is such
that the game mast be played out to the end.
An Anonymous circular has been distributed, appa-
rently with thco5jrct OF fastening upon the chair
man of the conference the responsibility Of the fail
ure to agree ana iutim1'ng that when it suits his
speculative purposes the conference will be recalled
We believe We speak by the hook IN saying that MI.
Jewett had uo hand i'm the preliminary negotiations
which led 10 the recent conference. and for that
reason. if no other, was selected as its chairman;
that withits Gual adjournment on Wednesday ended
his authority as presiding officer, and that, as 10
the power TO call another meeting, he has the same
as the other members have, to wit: to iRtite a con-
sultation-uo more, no less The mSuTmountablc
obstacle 20 an agreement at tie late conference was
the positive demand by tine Southern lines for lower
rates 90 and from philadelphia and Baltimore
than NcW-York. yielding Of this point
by the New-lork lines is for them to
surrender a large portion of their traffic and
for New-Y0riz ii would prove "a virtual embargo on
its export trade. Rcorcauzr the Erie Railway on
basi, of cxisingyaueS and squeeze ont the water
which the Central and Hudson aud Lake Shore are
carrying and these companies would be in posi-
tiou 70 soon compel the Soa,hcrn lines % an agree
ment upoa far rates. which nigh, return reason
able interest ol honest capitals. Tuc sudden decline
IN the price o Ohio and Mississippi late in the wees.
when the general market va, approving was an
event which might have been anticipated at any
So 4, tf Inst