New-York tribune., 1877-01-04

rineer to prescribe new formula for railroad 10
! ports which will compel the furnishing of tho
desired information. No system of reports will be
| perfect when permits a railroad company % mort
| gage ITS property and dispose of bonds 10 fbe
amount Of t27O00,O0O, a. tile Central and Hul
son has done. without furnishing detailed ssate-
ment Of the sum Of money realw,I from
such issue, and the manner Of di-lui, ,inu
said proceeds. A treasUcrs report in detail
of each aud every item of receipts a.d
disbursements should also be component
part Of every railroad report. Progress h,s be.,,
made, and il now simply requires but hccltfypub-
Tic sentiment to oyerruIe the railway ring ia tho
Legislature, and there will be light where darkness
has long prevailed. THE TRIBUNE also has ocea-
sion to congratulate Auditor Schuyler Of the Canal
Department on his appreciation Of The intent and
meaning of the ruInousy low rates AZ wliri tho
railroads have carried fre gifts during the past sum
per. In the following angaage be hut rpprats ,shat
tie readers Of TIE TRIBUNE axe already faliiar
with:
The pending campaign against the water ronic m.
Quesonabiv casing great inss To- tir roads. O tIs
only officers OF The e.nu-e
10 make public For tie fiscal year ending .,-it 30
1869 ae ear preceding tlr rpucOon m canal fo 7. tte
gross earnings Of tue Aeg-NCik Central .ud Hudson
nam for cnnst,U"ti'n ~ ~ -G7 a trn, -- =,
1874, both years incnidcd ths annual -UFp,us
WAS only SsDfl3; and Tor $50, tie pay BIonis uilsr
uidn Tor coI1tiucti0n, exc edfd the Rfos~ taiIngs
,Js ,654 20. But II bc effect of this copeiiiios ,aa
be to destiny Cie canals ana the iase Interests well,
the roads will Lave abundon, opportunity IA The 0iure
gOO1 all their losses reap sub.auti galus
rns conspiracy tie railroads, although Tor the lime
be.ng Ifiuot OF crap aud uulemuurftiiv raie, n
tslnSi0FtatiO causes no ,NeFtUns rom ue Trade u
rival states, aud uredtes the mpoyefsh ueEt of thou-
sards Oi individuals by fcnaorn2 wOrtnlrss vast
equipments Oi aaes ana csnaIs
The Auditor might have made his case still
stronger by showing that what had been lost hy the
canals was not ali gained by New-Yotk railroads,
bus distributed to the raiiroas leading t0 Phi!a-
deipha and Baltimore. Ar Garrett of the BatI-
more and ONO, in hs report 10 hs directors ia Sep
TENDER last, sald The action of the Central and
Hudson in reducing railway rates TO 80 low pont
has brought Us into a competition with the inland
navigation, . position which we never dream "d IF
taking. but it has resulted IN giving To Baltimore
an unexpected Summer trade in grain and
provisions, aud a corresponding decline m the bus-
ness of Ncw-Yorl." 1h.s result was predicted last
March ia tins column, as also settlement Of
the railroad war oD the old basis ., nayiga-
ton should close. Disguise it, cover it up, adopt IL
the suJterfuges possible regard to futurr nlatcs,
the fact remains that the Western nerchaut can
send his produce 10 the scab0an at Baitnuor- &C l3
per cent less than he can 10 NcwlOrk and hc Vest
ern buyer can take from Baltimore his dry goods,
New-York, always excepting those who have COLI
tracts with our roads at the low rates.
The stock market to-day simply the contIuua-
ton of Yesterday manipulation. In the absence OF
new buyers prices were made strong and fcebe, and
weak bears walk up to be slaughtered. lhe princi-
pal feature Of the day Delaware, Laekawauna,
and Western which rose from 743s to 76l2, and then
aftel a reaction TO 1858 closed at 70is The Broad
way and Exchaugc-court party AGAIN seem 10 Iay0
been successful in leading at least one Of the so
called Twenty-thTd-st. party into trap. 1t
i, likely that but for the sale of consider
able stock by prominent official OF the COM
pany the price would have gone one or
two Der cent higher. Delaware and Hudson on yer-
small transactions sold uptO 73i., while Central Of
New-Jersey. after selling at 374d37'i, was weak
at 362t. In another column will be found some
Trustworthy information concerning the prospects ot
anew coal combination tO limit production. IL isOnly
necessary here remark that there Is no prospect "I
il, being aueed to. Lake Shore was well held ab
557s4 J8laa J63s, while Michigan Central was
taken from 1853 up TO 49,, ana closed at 4'' Cen
tral and Hudson WAS opened at 1002, against l00s
last night and sold ut 10liGl01. Enc presented
ro feature IN sales at 97salO. The ST. Pauls opened
strong. but closed lower and weak, the common SELF
inaot 81 2O3.. and the preferred at 535s J3. Tho
company to-day made ITS report OF earnings toihe
Stock Exchange AZ usual Beaco It appears w. wero
~ least premature iD saying they were refused; bro
our application at the office yesterday was met noe
by the repy that the earnings were not received,
bnf that 1.-THE orders were to give no iuf"1n9flon
concerning the earnings or anything else"
The North Westerns went through their daily
routine. which to-day was upward 10r thc r'iHh"h
NJ I tG36lo and lower foT he preferred at 20 ga
J67s4p17ls Rocl. Island was not as Strong se mig
at I0l ~ ltjOl Western Union improved 20 "a. aG
winch Irce II closed, aud Pacific Mai weak &c
2l3a237s II is reported that tle renewal "f mo
co;unanys Government subsidy which expired on
the 3 Sr ut has been dciniUrly lost IN committee.
rhn total transactions of only I1D,2Oo shares
scarcely represents tlIc flIEs and traili-r3 which
na, attended the days business The final changes
from thc last prices oi yesterday are ar fopws:
AdvaurcS-Irie, Nortu-West'n common ana pre-
frrred each j Lake Shore. Morris and Es-eX. and
Union Pacific, each l.. Delaware ant Hudson and
I'tit,d States Express each u; Michigan C"iit:i,
GENITAL and Hudson, and Western Union, each 8
Oho and Mississippi and Illinois CehtIai, each /;
Chicago Burlington and Quincy, IS; De!a"Tr,
1 Lnc,xHwanna and Westem, la, and Chicago aI1t
fun preferred, =. Declines-h ahash. IS; t"htlii
of Now-Jers,.y, y; Rock Island and ~. Paul. V.lch
l., uer cent Tie following table shows the
RAN,,i fliE STOCK IARhEi:
IA. 'lns4us B'is sitiFs
,pg. aign e. i9w-t hna gId h>kn '"ia
A.ST.H Prd. = 70 "a
C.. e.. G. - /. "S9 "