New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-09-22
FRIDAY. Sept. 21-P. n.

| FRIDAY, sept. 2l--P. ~.
II seems TO have been reserved for the astute man.
ayers Of railway and Geographic lines to furnish the
last and most convincing evidence that neither mo-
nopolies combinations can prove successful In
this country. In every other branch of trade they
have signally failed For months past, the public
has been sureited with glowing accounts of brilliant
results to be realized from an existing harmony"
or combination between the railways. certain por-
ton of the total shipments West from New-York was
allotted to each Of the trunk lines for the sole pur
pose Of preventing competition and consequent re-
duction Of rates. Yet ii is well known by all, con-
versant with the subject that such would
never have been resorted to, except at time when
freghts too light to employ the capacities OF
the railroads. and that already there exists dissatis
faction with the results. Ii was understood between
the trunk lines that they should exercise certain
control over their Western connections, TO prevent
the cutting of rates East-bound freights. This
has necessarily proved TO be Of jealousy and
complaint by line against another. Upon this
subject The Chicago Tribune, of September 10, tells
the following story:
The Wabash the Toledo. Peoria and Warsaw, and the
INDIANAPOLIS Bloomington and Western Railroads have
been Gu ting inc gram rates Io rsoria Toe
severely from the fathessness OF these roads made COM
plants to Commissioners OF the NewYork pool and
threatened 20 break practice OF the above
named roads WAS not stopped at once. The New,1Qrk
they well founded. Tho perflious roads were
thereupOn informed that their litte game had 70 De
stopped and hence orders have been issued by these
lines that they would resume again the regular trin
rates. commencing next Thursday Unless the trunk
roads their heels these parasites they VIII an
doubtedly the again IN less than fortnight
Cutting the rates has become second nature to them.
In connection with this matter II may also De sated
that. owing 10 the Wabashs contract VITA the Miers
Association taking flour from St LOUIS at very low rates.
several others OF the ST. Louis roads making con-
tracts at equally low rates REGARDLESS OF the tar rms
II causing much I'll feeling, and unless some action IS
taken regard to this matter there will be another
IN the family
The simple fact is that there is as little legality
in the combination Of railways, for the establish
ment of passenger and freight rates, as in the
bnation of their employees TO prevent any one work.
ing for less wages than the combined employees
dictate shall be paid. But whether. not, such n
course is legal it is opposed to every principle OF
political economy and, therefore. is sure to end in
failure. When the business of the country grows
up to the capacity Of the railways, efforts to form
railway combinations against the public veal will
ce ase to be heard Of At present they tho out
growth of necessity to earn interest aud dividends
on capital and debts which do not, and never did,
represent any real property.
1t is generally supposed that the last three weeks
have covered period when there has been a strong
" bull stock market and il is certain that IL has
been a disastrous period to the traders on the bear
realized on September with those of to-day is sug-
gestive to holders of real estate that il may not 10
safe to wait for higher prices before selling out.
The highest prices Of September 4 compare with tho
lowest of to-day follows: