New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-10-20
refered-the leg atty and feasibility Of railroad
combinations to regulate the rates for transporta-
tim Ihe Hnulfin says.

combinations to regulate the rates for transporta-
ton. The Ballctin says:
We do not doubt that the past heavy losses OF the rail
roads have gravely affected Their finances rs 10
that may seem TO promise to them larger earnings
After all has been DONE the roads are sun c9npeu,os
being cOmpC titOIs they must necessarily compete
fire must burn; and he must be very superficial or a
very egune observer OF the forces that control com
mefce who can persuade himself that anything else
G possible There IS no eIeepon icra I pTc
tectcd monopoes - that combinations 10 defeat
competition successful only for very limited period
The folly of these arrangements. however, is not
their worst feature they carry direct implication
10 graphic with the Problems of transportation
that competition forces upon them =
To the public view, the spectacle OF mon among our
transportation companies To enforce what charges they
may please upon the products Of industry Is very seri-
one, affecting In small measure our ability To com
pete with other counties uron wide range OF products
Of immense aggregate value. The public VIII no be
slow to ask the question whether combination OF tins
character lsega and not III the nature Oi
against the public INTEREST aud there is good legal ground
for raising this question The common law OF England
which is the basis of commercial law IN TINS country rs
very strict in the protection OF the pubic against pubic
carriers The law has always undertaken to de-
termne what is reasonable consideration ior car
rying goods and there can he little doubt that any
attempt TO deprive the public OF the SAFEGUARD ags,
carriers would upon trial before competent court be
declared illegal. and possibly to the extent OF deprVhg
companies cOnsprlng OF their charters.
Moreover, the railroad managers cannot have forgot
ten the vigilance Of Western sentiment upon TINS ques
tOn and IL Is unwse IN the extreme 10 throw III ITS lace
new prOvOcatlOns. There remains much that may DC
preme Court decision and would require but niue 20
ncite them 10 fresh acts Of hostility against the roads
Already perceive, the first muttcrings OF threats III
inc western press against the coinpnatlon anu e o
ment the farmers OF that section begin 10 feel the effects
ducts we NAV expect to witness fresh out
hurst OF grangelism in the Western legislatures:
Look at this action OF the leading railroads III what light
we may II shows on the part OF thelr managers pete
of view, shortSighedness and an ncapaclty toT
dealing with intricate problems Of management that
but seriously affect confidence III the vast inter
ests in their control
There is not doubt that the foregoing statements
are sound in law and logic. And, as THE TRIBUNE
has remarked before, the greatest evidence OF the
true inward weakness of our heavily capitalized
railroad corporations is exhibited IN the frequent
meetings of officials held to fix y matters, and
maintain an unnatural and forced combination. But
what particularly affects the local interest of New
York is the price which is made to pay for this
listing harmony between the railroads. Whether or
not rates for transportation are remuneratve, is
matter of secondary importance to the commerce of
this city. But 1t is of superlative consequence
that New-Y0rk's commerce be not sacrificed TO re-
muneratlve rates by the allowance ot lower charges
to and from Philadelphia and Baltimore, and the
principal Western cities than to and from New crk
The schedule published to-day shows that the rates
on west bound freight from Philadelphia are
cents less per 100 pounds on first and seeondclass,
and 2 cents less on third and fOurth-class than
from New York, while from Baltimore they are
and 3 cents less respectively than New-York
Inc STOCK market To-Day was Naturally IcNelisl
and responsive to the mOmentary pTeponderance OF
orders. A local short y interest had arisen which
took fright at any appearance OF strength, and
added TO the buoyancy by its own buying, Hence
after several fluctuations up and down within the
range of - per cent, there a genuine scare and
prices advanced rapidly. The increase sue
ceedcd by lower prices and heavy tone at
the close. There were indications at the extreme
rally of an accession IN numbers TO the deserving
bulls" but, whether or not the impression
rect is left TO the opinions Of readers II is I'M
necessary TO enter into detailed statement of the
various changes; the suhjoned table shows that the
instances Of higher prices at the close than at the
opening exceptional. Generally prices are lower
RANGE STOCK MARKET.