New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-01-15
1ALEs FROM O'CLOCK TO CLOSE OF BUSINESS, 3


SATURDAY, Jan. Tsp. NJ
The transpo! tati0n question, as affecting New
York has received light during the week. II seems
that the Pennsylvania aui the Baltimore and Ohio rail-
roads have seized upon favorable opportunity TO take
another of the Of disc ninaon by advancing
frcict on Fgst-bouni another cents per 100 pounds
Ia this city, preserving the 10 and IL per cent
less rates Philadelphia aud Baltimore The oppcrtu-
nifty was aforredas are informed from Trustworthy
sources-by the crippled condition OF the equipment OF
the Lake Shore Michigan Central, Central and Hudson
and to a less degree Of the Erie railroads.
II is stated that these companies mt
terly powcrlcSs TO move the freight trains
which block their roads, not because OF an extra
amount OF business, some suppose 1.-THE reported
motive power all is fully equal TO their car caplritoS
but deterioration Of locomotives and machinery, ~
gravatcd by necessity OF recently being compelled to
put them the hard service OF batterin2rams against
huge snowlrif, Clearly here II another eXem.Iihca
zion Of the sktnnng process which accounts for part
Of the wonderful reductions made 10 cost of operating
the roads. The result j. that for time N-wi"rk Is DC
pendent upon foreign railroads for it supplies rom the
West, they needed. The statement made III
this column two weeks SINCE that here was no real
advance in rates Wesi-bound frrigts is no longer
denied BY railroad officials And the reasons given Why
tic rates not enforced arr tho same ~ we 'hen
stated to wit the outstanding contracts at the
low prices But ii only justice TO remark that these
officials say they not renewing the old contracts be-
yond July l!
The principal feature OF interest in financial circles
during the week was the large and active demand for
Governments. Early the prices were rather depressed
by the decline in gold hut with the later demand and
reaction the gold premium the loss more than re-
covered bonds, while generally strong were ccait
IA To only moderate extent. The railroad ISSUES were
inactive and IN some cases lower notable sale was
that Of $4,000 OF the Kalamazoo and White Pigeon
first Z per cents, guaranteed by tie Lake Shore and
Michigan Southern. at So. Gold opened the week at
1861 declined TO 1854 rallied to 1865 and closed At its
highest price.
The rate tor money al worked n tTnc easier than
for the previous week. but for discounts there was no
change. While money rates are now likely to work
smoothly for the next three months, those who look Tor
anything like the low rates OF 1876 to u5 10 leave
ont their calculations the large contraction which has
taken place both in legal tenders and bank notes. and Of
former
The bank statement to-day reflects the turn Of currency
movement toward this center; the legal teIuiers bring
up $l,759,700: specie, $l.3G6,600, and loans down
$500, 700. against increased deposits OF S305i700,
evttuatng increased reserve the % per cent
LEGAL requirements Of ~ 3Jj, 10. Deducing the total
specie from the deposits. the lCgacnder against
the remaining currency deposits are 2O1l per cent
against 1894 per week ago. The comparative to-
tails follows