New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-10-24

xo,,-york 70 points wost of Buffalo and Pttsburg'
Wv beneficial the scheme has proved rs SHOWN
=, .bo G,nnes of the Pennsylvania Railroad,
to,..ofore pubshed in THE TRIBUNE. But TINS
;i,oool and unnatural combination of the railways
- brought forth another combination, which, III
.,occssful. will seriously affect the operating en-
,enses of railways In another column OF lhN
TprpISr will be found an account OF an attempt y"
tbc mart of strcet-rail manufacturers 10 a"N""oo
tbe urjce of their rails $40 per ton ms Is 10 I've
dome through a "pooling" scheme WIhch Is sup
,osed IN eyade the laws relative to combinations Is
W en,tientlv wait to learn how railway olloi"'S w"
IKE The cup when proitered to their own lps ""i,"
,bov with uncdualled audaciy have foiced upon ''o
rublic II railways may ughtfuily combine ~ wv
tote terms TO the public, why may not the manu-
.''. 81 steel rails. the Brotherhood of En-
so.rs and fremen, and bTakemen, also TX their
- terms ard compel acquiescencei 10 our Ii,u 5
il is PLAIN that some one oi uEns has an
ad,.oufagc over all competitors. Is IL PpoSfrDI'
that the railway company OF :; inc o,iSed NV
t,,rcr that has The advantage, u Sul. ~
'It+lc irdcment foresight and capacitN aS 10 w
;rcanable Of using that advantage IN an upoI ,,,
fair c,npetitouy Combinations are 'nV e III ,i'ierS
80 sc,ol mon and bring no benefit TO stockiOiteIs,
o. si I n, co,onanics went to the dogs under
combination restricting the output anu t,oiricon
And so must IL be with al sucn scilcne. + H. lev
soil aud climate-uOt taking mo icceun' I;,t;,,o
e., rot f1vorable to the growth OF conplha'loIls
1~,;nsf the general veal. They can no loio .illrJ
Iore thsu a plant, which Is a natNe vi 'io 'ii''
zone can blossom in the Arctic regions ,t
r. yy,s only natural after week ; STEADY u''liHo'
mai the stock market today should nav q IT,
80, and that prices should somewhat ihp'oEe
Srao tneir lowest point. Particularly was tlIiS 10 ~
oyupcfod because two OF the chlel oleid'o4 ",'u
one of them the president OF eIcai IaiIM"}
were carving not only their Original loa'S' p az, ~,
a large portion of the stocks recently SOFA y, VIC
dcscTters from the " bnll" camp. IL -
,vidrnt that arrangements for higher prices were
1.s oh
been a score of competing orders 10 BUY al t'o upc%
inc this morning A man deslrOus Oh Pui ="
niece of real estate, is lot likely TO sellu -
,.ousIv a balf-dozen brokers 10 negotiate VIII t"S
owner and thus create the bellel mat iu'V"u ~
one customer for II, there are SIX; ict IA, -
actlV what was done. to-day, IN the SiocS Hot'
.,,d 'undrr such demand prices advanced MHVh
tbev had advanccd-vithin the hrs hal-honI
us easy 20 hold them comparatively
-, Cor the remainder of the day. Nevertheless,
tI. CLOSING prices were far from being Jhc DtAt "l
lie day. Lake Shore aud Western Onloh were tie
strongest stocks, as vel as tic ilost 'o't'e, va f
sale, of the two aggrcgatiug lO2,OOO snhes out Oh
tle DAVIS total of $4,000 for the Whole ISL. Inc
granger stocks although higher at mid-iay' showed
itiic or no Improvement al the close, beng ihnu-
erccd adversely 10y the recent heavy decline III the
receipts of grain at Chicago ana MNWaukec'
The coal shares which were dull. closed AZ me neSt
Y,cp of the day. There Is general impression tl'u
tomorrow will show higher prices Tor these STOCKS,
because IL is expected that the "buH Clique
Will rig the auction sale OF coal ny the Di'We'
Iack.waua a Western Company, ana thuh MAKE
A. ann, ar chat coal is in demand, al Prices hghci
I nm the PENNSYLVANIA. ana Delaware and Hudson 5
ir lar rates. In view of the fact that the production
al coal this week probably will reach 47J,Ooo tons,
and that the production OF the next few weeks VIII
exceed the largest output ever known, we nave
little faith that any such attempt will be made II
Il Is made. we do not believe that 1t VIII
deceive any one but its inStigators. Ii must
not bc forgotten that the Delaware ana
Hudson and Delaware, Lackawanna and West
ern companies were declaring and paving
uuearped dividends when coal was - and upward
pr ton: also that large portion of the Heating
debt 10 be retired by the new mortgage bonds was
then created We are informed that the Delaware,
and Iackawana and Western will soon offer lis new
bonds for sale. The Issue is 1O,QOO,oOO bearing
date sept. l. 1877. due and payable Sept /. 1907,
with interest semi-aunualiy, at the rate OF per
cent PAYABLE in March and September Tree Ot
I uited States and State taxes. OF the total issue
such an amount is reserved As may ue re-
tmired to take up $2,2l3O0O outstanding
mortgage bonds When tins has been done, The new
issue viii be first lien upon $50 miles OF railway
and all its ecu pment. The company values this
rrnptrty Al S,5,OOOOOO. This may he or may not
Lc a low valuation, But the face remains that at
about . per ton for coal at lIObOkcn tie company
uuder existing circumstances would but save It's IN
teIcst and rentals.