New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-09-21

is S1Gs 626. But against this, Mr.. Jewett's cash
balance is reduced 1921 ,219, showing an apparent
gain of only SA7, 407 IN month, when the company
had no interest to pay except such had been over
due The Receiver ~ paying interest on only S12.-
600, 900 of the oompany's $54O00,000 bonded in
debtedness hut the interest which he Is
paying amounts 10 $4,000 per annum, or
monthly average of $4,000. So 1t APP
pears that for the month Of July the
company actually ran about $4,000 behnl us
accrung interest on 81 900 600 bonds. With such
a showing il seems worse than folly to consider a
reconstruction scheme which contempates leaving
the road in debt over $50. 100000 and preserving
$50. 600 600 OF stock. The statement should prove
instructive 10 all those who believe IN the earning
capaeiI " of comnefmg railroads, whose capital mas
been v',fereP fullv or quite ~ much as that OF
Erie but which still have been able TO maintaiu
Their credits and therefore, not IKE the EIle' IN
fine hands Of an officer of the Court, VINO Is CONF
PEELED 10 state things just IA they are
II turns out that THE TBiBUNEs statement on Two
weeks ago 10 the effect that the Cenir2 ana iiu1-
son Railway disconten'ed WIN us aip ttcV POT
ton of the freight shipped West from New-l OF. ,
- a NC this discomfort which called together the
Presidents of the four trunk lines, and
thar all other matters discussed at .beir meeting
were simply incidental 10 tins man topic.
BIT the meeting has adjourned without f nay fh
time, matters remain IN statu quo IL - lr.O@hle
that these gentlemen, in time, will learn the same
lesson now so thoroughly understood by the officials
of the coal c0mpaues-that the trade or traffic Of
Ibis country cannot be controlled b. combination
that az they demand free competition IN the pur-
chase Of their supplies, and In the employment OF
Their engueers and other workmen, so the shippers
demand an omen competition for transportation.
restricted trade upon tie stock Exchange to-
dav has developed 10 new feature. The whole ton
drncv of price has been downward, checked by ihe
usual manipulation 10 friehten "shorts." winch at
moments has given the market a firm appearance,
encouraging the a, b. G. apeculators Tor rise, 10
hold their stocks Central and Hudson Lake shore
and Michigan Central particularly betrayed tired
look, while the ST.: Pauls and Northwcsterns
were fairly held. Northwestern common was
the strongest of all, 40 36si, although tie
Winona AID 81. Peter second mortgage bonds
(eudo1s,d 10y the Northwestern Company, and a
prior lion 10 The consolidated gold bonds on 500 miles
of -oad are quoted at about 61l2 The coal stocks,
a.te being strong for Delaware. LdckaWanua and
Weston, NJ 53lf053le, were heavy and lower IT
52a523s Delaware and Hudson sold at i9@ia ~ =
to 4Sa4Sl2 Morris and Essex was steady At 113aD
~. as it Dug. to be- il its guarauor, the Delaware
Iackawanua and Western Company Is solvent
" stern Union rose 10 SOL but later sold e1-dly l.
dcnd Of 10 per cent, at 79'sa SOS. OF the mis-
celaneous stocks Quicksilver preferred attracted
attention by a rise 20 3Ol2G36A.
RANG oy rHE STOCK MARKET.