New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-02-13
Best a Belcher
MONDAY Feb. 12-P NJ.
IF being long suffering and accomplishing is

III DcIng IOUR SuHcTlHS anu uhOoh'p'""e 10
evidence meritorious quality, the commercial and
interest of New York challenges the admirar
ton of the world three years past It has witnessed
its business steadily drifting away from 1t through the
ayariciousness and unbccity OF Its railway manage
transformations because Of attempts to tax commerce
for the payment Of dividends mock capitals anu in
beetle because having failed Of full success the dvi-
dends have paid out Of capital account ana by inc
skinnngo process thus impOyerishing the roads ana
imparjDg their future usefulness either TO the stock
holders or the communities upon whose prosperity ther
own must depend. Yet New-York takes no praeueai
step check the onward movement or dfverng rade'
but rests e0ntented under q farcical ana deccptNe
schedule OF equal rates" through shipments from
the West to European ports while the railway interest
is reporied working like at the Legislative
cornltee's DOORS to prevent the enactment OF any
remedial measures, even for the competing oi 'r"'n
full and ineligible reports But suppose inc sched'ie
for equal rates by all Atlantic ports on grain ana pro-
visions shipped by Through bills Of ladng" from the
West 90 Europe WAS practicable does 1t suit New-fork
To become simple way station Again. how about the
merchandise sold to the West Does It suit chat Phila
dephia and Baltimore shall be entitled 10 and ID per
cent lower rates for freight than New-Yorkf THIS
difference many heavy goods amounts 10 percent
age Of prof to the Western buyer yet there Is no pre-
tense that exist all westbound rreighus,
and Ncw-Yorks mercantile interest is daily receiving
staggering blow from It, The rights OF capital are u-
doubleday TO be protected but there other capitals
besides those of railways and when one hall OF the
latter. are mock and become extortionate may DC
time that wise legislators seek plan for equalization
Any commercial community having like grievances
other than that Of New Yorkwhch Is prone 10 DEEPEN
dence upon its natural advautlgcs'-would long ere
this have made its voice powerful In the legislative
halls that no railway ring could raise its head
In the stock market to-day, aside from general de-
prcsson in values the chief feature the rmness OF
Delaware Iackawanna and Western, which was held
strong between 677s and 90. with final sales ut
6s4 The movement seemed serlOus to all Observers
because t was plain with the condition OF the other
coal stocks Its shares could web have been brought
without any positive knowledge upon the sub)eet-thc
cmics do not take us their c0nfidence-it would
seem suggest that pool was formed several days
ago buy this stock based upon idea OF an existing
large short interest ami that this company an excep
ton to the average coal companies. IL this hypothesis
Is correct the first bass-a short inerest-has been
DESTROYED because its apparent strength In the face
OF weak market has very generally frightened a
closing up, while the stock has been supplied by invest
ors who fa to soc the difference between it, which mas
yet paid its November bills for supplies, ana Dei-
ware and Hudson which has, and 10 selling ht I'M
der 80 may be expected that IN the near future
Delaware LackawaDna and western Viii create greater
sensation than Western Union recently dld VI "a. gen
er market remark IL necessary 10 dsc,iDe H.
IL was heavy at the opening, heavy III the Hdu!e ana
heavy at the close ut about the lowest price OF inc DAY
be by examination Oh tie ppldl lst anu
Of tho sulOincd table, showing the
RANGE OF THE MARKET AZ TIE STOCK ENCHANGE'
laI.S