New-York tribune., 1877-05-17

-. mill and numerous other articles, now Free
~ in 1876 paid from % TO 1l2 mill per 1000
,ods per mile. To fully comprehend the
ut of this reduction it Is necessary
- understand that 1 mill per LOCO pounds
mile is equal to 74lO cents per ton from Buffalo
- Albany not taking into account that the boats
;b heretofore have had TO pay at the rate of from
- 20 10 S1l 10 per ton on their own weight are
VIC free. which enables the bOatman to make a
h,rtber reduction in his charge. Hence the reduc-
n of toll on grain from l mill to l. mill is equal
- 1l,o cent per bushel of wheat for the whole dis
,ce That this is serious matter to the railroads
: secideuced by the continued shipments of packed
,,e,ts from Chicago through by water. which is a
asr departure by the daily comparative reports Of
r.ceipts at Buffalo of -four and grain by lake and
r.1 and the shipment hence by canal and
n and finally by the prolonged meetings of
,be railroad presidents, which have been held
IN this city, but which have finally adjourned.
REGARDING the latter the officials are very guarded
!, tbeir uttcrances and sneak Of some "minor de-
tails vet to be arranged but we learn from trust
rrorthy source that positively nothing was accom-
ni.bed What could there 6ei The alternative is
toirly presented and cannot be avoided-either n
competition with the lake and canal at tremen-
don. loss. or large proportion of the cquiDments
mist rtman unemployed. Even now il Is found
necessary 20 bring empty cars from the West to do
tlc limited freiehtng from the East.
In the natural order of stock speculation, today
h. rights belonged to the manipulat0rs, SO after
rather di,coumgng outlook at the opening, the
machinery was set IN mOtCn, ana SluguiariN enough
fe particular drive was maIe ut TIE coal stocks,
I, lowing au open couie, SION that win present pro-
6pciol and prices there Is profit in the business,
which induced the New-Nork companies 70 cable
tbe President of Reading at London 10 hoid up
uaull aud give them chance 10 sell
some Of their production For this, III PLAIN
English, IS the meaning OF XcsierdaEs result;
WmIc our companies have been talking and
attending the Grand jury room, Mr. GoWen has
brrn attending 90 hls business mining ana selling
all she coal he could. In doing 50 he has looked Tor
new markets, and has found them IN the FORMER GUS
toprl> Uf Delaware and Hudson, and Delaware
LaekdWaula and Western companies. only tnis
week tlc Reading Company, IN pursuance 9I ils
own policy, has established an office M NeW-HaN'h
for ilr sale of coal in that section OF the country
and sent thence one OF lis agents icimct y tsldo-
lhed In this city. THIS sort of thing rchecls en-
e.grtc management for the hcddlh" II IL
falI, 10 be- profitable to competing companies,
Nevertheless. by dut of good deaf of pushing anu
ar.uuri that Mr. GOWcu had aCCcdeG tj tAe desires
al tie other companies, Delaware, LackaWanna ana
Western was raised from its decline o. 4ZI2 mp 10
47ls. but closed at 40; and Morris ANA Essex Wn!ch
cary .ai cropped from 5o 10 p rose ~ 49, ~ ii
aware and Hudson also advanced trom 5N'i 10 SUI
l4O. The major part OF these several gjlns was
ilaGg g.Tatcd aud made with dash, amer "iu'ldN'
and DIS some were thought 10 have Tor an o'J.ct me
was uot brilliant one, because the other gains
IRON last night are imnaterial, and III some III
stances prices are lower. OF the railways,
Lake Shore was the active stock. Opening at
50 against 52li last night, II dcciMed to
51&, aud then rallied and closed at 52i2' Nl'hlE,h
Craua opened a ~ and struggled up 10 ~ 5, Wll'
Central and Hudson sHld up To 924Q3Z'd 9Z"4D
g2Lo There seems 10 be some degree OF 'i'IdtE rs
IL touchiug this stock. perhaps because the Pcnnsy
yauiu Railroad, which formerly put 10 per cent NV
drud- and now pays but q per cent, WIN lis STOCK
selling a. about 81, furnishes an example oil Whii
nav happen To other companies. Rock Island huc-
tulted between 52lia32 and 930J2's. -.
Paul preferred, after declining 10 4l@i,
c.,ed at 4sls The trading IN the otncr
railways was dull and fcaturr.ess NtSi-
m Union wa, weak selling from 65"i 10 62I2'
hat closing az GJ. The expresses we're geueIdiI
lower a.d heavy, American particularly 80, 900
SiIcs-sC.iiug at jl"i 40 %.
T.e,al,sat .hc last call-3:15 p. m.-of the Open
Band were: 100 Central and hudson. ~ p; 800
J. kr Shor.. l-5s; 100 Erie, Cps; 100 ONO, 3'S;
and 500 Delaware, Lackawanua and Western, f'il
145l-.
l.soI or the MARKET Al THE >TucR ENCnANGE.
10