The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-06-18
THE RAILROAD WAR.

IT'S PRESENT AspEcT-oFFIcIAL STATEMENTS
AND FIGURES.
The progress Of the railway has been very fully
given in tho HERALD from time time, and II will be
curious contribution to its history that
time since travel became common to the the
American continent has tho transportation OF passe
gers from remote points In tho East and West TO the
prarics and the scaboard been cheap pres
ent Tho changes in havc been daily chroniced
in these columns, bat Il supposed ID special
contracts for parties Of excursonsts and others hive
been made by the rival trunk lines, which, II
made public would surprise even the con.
testans AS to freight, eastward and westward bound
the remark holds true. The latest rcduction
In fre,6hts made by the Eric Railway the 18th
inst, based It IS SAID. Information that the Crane
Trunk Railway had reduced rates from Boston to the
West and tins action followed By tho Pttsbura
and Fort Wayne Company, under tho control Of the
Pennsylvania Central, which did connno itself
under cutting in ircshts, but boldly announced rc
ducon OF It's passenger tariff from Chicago from Sl3
TO Sill 40 AID to Baltimore and Washington. $l1, the
Pennsylvania officials stating that from Chicago %
New York 1t was not unlikely that passengers would
be carried for S. II will thus be the hostile
feeling becoming Intense, with present pros
poet of harmonious settlement OF tho great interests
involved.
Inc NOW lOrk Scutral oIucal3 navJ perClstcutlv
denied that they have initiated this state OF AFFAIRS and
II with good reason ;ior il must DO apparent ia
tho careless observer that II heroic remedy
had not promptly been applied by the Central
this city would soon have become way station
and the great commerce OF New York diverted from
It's natural channels to the rival cities OF Boston and
Philadelphia IL was to meet this danger and avert
that Tho great trunk line identified with the com.
mercia interests OF this port made the reductions Of
June and 10 for West bound freight, and followed
reductions OF its rivals for East bound reghts Of
all classcs Tho Boston, Hartford and New Haven
Road too aided in the complications through tho
OF the old Maryland in transporting pas.
sengers, without change Of cars, from Morrisaus
around the city to the wharf OF tho Pennsylvania
Railroad at Jersey City, thus ignoring Now York alto.
gehcr The Vice President oil the Central also asserts,
corroboravc Of the disposition OF the Eric Railway
divert trade from the Central, contrary agree.
ment that party OF consisting OF thirty.
eight persons. had been forwarded the Eric
its connections from North Adams. Mass, to Omaha 10
first class aud trains $50 each when tho rogu-
lar fare was $38 Tho Vanderbilt roads were thus
obliged In sedecncc. TO meet this cutting Of rates.
prominent railroad man was called upon BY
HERALD reporter ascertain the for this Dc
,crmined undertaking. and received the following %
PLANTATION The TACT is, tho
kRE RAILWAY HAS nkkN TAPPING THE CENTRAL
ut various points, ut Rochester, Auburn. syracuse
Utica. &c, and what with the aid Of the Delaware
narrow gaugc--irom syracuse 10 Binghamton, and By
tue Lchgh Valley and Rochester Branch II the Erie 70
New York, the latter company has been enabled 70
carry passengers cncapy than the Central ana
make money besides. Formerly tue Ere carried thcs
splendid palace cars and passenger carriages almost
empty; now, am told, they arc running full Of pas
seugers bur nj rates which would be ruinous 10 Cen.
trail II may not he Improbable In this connection u
consider statistics of the various companies en-
gagged tins war, To their amount OF stock, Darn
ines, interest on bonds, rentals &c, In order 70 com
pulc or certainty which OF thcu
before they succumb
Net Earnings and Rsntatx ABst Stoch
H.. 1870 sl1, 7e5 900 s4,425. 900 $50, 42soa
Pe s 1873 la,Soiooo sSsioOo Ss,sscOos
a ono' is7s.. a.. $4,000 l,S2aooo 10
Lake shore, 1870. 4's5sooO 2'Sos'oOo 5O0O0Oo0
Mich Cent, 49, soS4,o1o 100000 ls, sSs' o@
IL must bo remembered too, that Eric started the
war with deficit OF ST. 353 its interest account
rentals, had Iasl Year 81 LETT Tor divIoends On
SOS $40 000 OF stock The baltimore and Ohlo after
paying interest and rentals had balance Of ~ 76s 0m
The New York central and HUDSON River had
sill 10000 Of net earnings, out OF which y
ing $4,000 available ior s,ockhoidcrs Lake
Shore had ba ance OF si5s2.ooo available fos
It's 800 0O0,OOO OF stock. Or. II take New York
Central Lake Shore together virtually sys
TEN under the same management, they had combined,
ss.g2ovo surplus against $780, 42s 900 Of ssook The
Michigan Central, the connecting limo Of tho Grand
Trunk. had $4,000 available for dividends %
SIS 1885, 0uO of capital
To 20 back little. as a comparison, u would DO vol
TO remember also that In 1850 The Lake shore Railroad
appanaec OF Central 2 292 cents gold pei
ton per mile Tor carrying ircghtr; IN 1875, l0lO cent?
In currency, reduction o 81 certs nitcen years
equal 10 ~ per Ia 1874 tho road earned % u
per share Of Stock and In 1873 only ~ 20 With tha
rates lax per cent lower than the year before.
In tho present condition OF the war,
wirn LOWER nEPoRE KNOWN
~ impossible TO say what tho road earning and
conjecture alone the unreliable guido judgment
Coming back once more 10 tho attitude OF Erie AMI
Central. officer OF the latter company caused IL q
be officially stated that Iast Tuesday, the result Of
conference between the rival roads, the Erie advertised
rates at all its prominent offices OF reductions IRON
this city 70 syracuse, Utica, Buffalo and Rochester,
and from Buffalo and Cleveland Syracuse. Saratoga
Albany, &c On the next day upon teiogrxphing q
tho Albany and Susquchanna, the Dolawarc, Lacka-
wanna aud Western and tho Van Ronocolner and Ser-
atoga Raroad companies, II was dse0toSod that me
above named companies would tako no part IN ~
underwriting, but in addition, that they had already
notified the Erie and Atlantic AMI Great western q
thor intention TO require their full proportion Of ~
usual rates thc,r roads.
IL will thus be sten that thcro ~ triangular duel
gong on, whica p any moment may result 10 The
death Of one more Of tho antagonists poaeolul
sestlemens 70 NOS soon mndo