New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-06-18
sArrRnAY. juno 1G-P. NJ.

As early as the Summer OF 1874 HE
TRIBUNE directed attention 20 the PROBABLE ell cts Of DE
then approaching completion of the Ba tm0ro ana ONO
extension into Chicago II was shown that this line, be-
ing soiy and substantially bulls for about S21 900 per
mile would De able to undcrbd heavily handicapped
railroad, FOR the business of tine Northwest and would
either secure it, to the deirmen Of this city, or war OF
rates would onsue which would not permit our lines 10
earn their interest charges. The reply to all inns was the
usual. and by some SUI deemed unaHswembe one
"bcar RAID stock jobbing." &c. Net,5more tHan our
pre tons as to diversion OF trade has been verified
will the railroads since 1874 have been in q continual
chronic condition Of warfare only relieved by spasms
Of partial settlements the duration OF which seems
% have limited by the time required To make sue
Cssul turn in the stock markets. Since 1873 the aver
axe rates per per mile received by the railroads be
tween Chica-o aud NewYOr for the transporting OF all
freght-ocll and rOugh-has been rcouced ir M about
l512,, % Os7io, cent in 1870 and the lakes and
canals are performing the through freight al
rate which for distance by railroad would be less
than O25loo cent Yet stock operators permit them
sey, To be amused abused-as the case may Oe-Dy
side snow Of the passenger business, the prologue ana
eloete Of which are snch character strongly In
dictates thai il for the ecl purpose Of dnis1c
elect II true that Notwithstanding these large e-
ducous of nearly 80 cent in rates. tie Central ana
Iadsou has maintained the payment OF It's regular dV-
deuds and Lake Shore parta ly but IN eaeh case
THE tribune has heretofore presented undisputed
derived om sources other than earnngs-sources winch
sooner or later must prove uuavalling
isauopular that tine products OF the Upper
Mississippi Valley cannot be exported by Now orleans
because Of e climate. yet its past history proves the
contrary, and that she lost the trade she once had
because of tie building Of larger class vessels FOR the
carving trade than c0nld enter the Mississippi
River The assured success of the "jetes" VIII furnish
safe passage Tor this larger class Of vessels and is quite
likely to give the lay OF tine land and the ran Of he
rivers agaiu control OF the movements Of commerce.
The report of the delegates" on the affairs OF
tie Illinois Central Railroad furnishes some Interesting
Information the past. trade Of New-OIleans. without
iudor-g tArr conclusions because do not think the
railroads ever successfully compete with the river
We quote:
Fortle ten years ending 1880 New-Orleans received
on dn average IO1l ,s67 bush gam tie receipts al Bur
Io, h-u The crtrr OF thr grain prOiudn. districts, N-
eagng o. 2gl O32 bu 3D. Ia decade oudin 1906 the
aleaec receipts Of N"w-Orcaus we're lo2o2 plSh.'
ports Cuna. Great Britain, AMI other foreign ports
ueS; JOi,-lO bhl-. flour, 14JI74 Dbls pork, 3e4ll
b1 Dac % 6ls, SOC KEGS lard. is,726 bpis beef GOODS
bbs ISL sky ana loo 900 nusn eou These cures offer
aconcusite answcr0 tue assertion that hreadsiuIs ana
Provisions with safety, De shipped uy way cd New
Orleans The bu u the Western tobacco crop found Us
Way 10 NewOrlcaus anu forten years lecedmgth war
tArdyclage we've 65JJ2 hhds ana the shipments
to506 ll.s; and In 10000 inc former amounted 10
5000 Alds AMI the latter To 81 Gs9 hnds At the same
une Nea-Orcaus tie primer pad market FOR 'Oti0n III
u United STATES and had moreover Is large mace WIN
u ntcnor Supplying al thc articles consumed iheie
Tue hrsi cl,ck gwen 90 the commerce Of NeU-Oreans
cites rom TIE yeai iS4s, when larger vessels began 10
D. constructed aAch could grain 10 better al
s-ata-e. tlhe average tonnage VI American Nes-cis
tlHi iOm 1910 TO 1917 3I6 tons; from lSio 10
1917 htr tonnage Increased 10 543 TONS and nom lSJ3
70 loy6 tler reached average Of zoo tOusJ Tie
ea 40 TIE mouth OF tic Mss,s pi closed the port oi
StN-yrtals TO such large Ncsscs, ana tbs caused me
nnr 90 SICK outlets iOE lcr surplus pI.duce al lhe
A@slein ports. where lower IA, lights were offered
1t viii be well for those interested IN The commerce OF
s city 10 weigh these facts, aud If possible find RENE
uy lt VIII not from mutual admiration societies,
M non the passing Of nicely termed resolutions.
Tie bank statement to-day reflects continued slagna-
uon and the small demand for money. Loans are CON
Wac0 s9s55OO; the specie average IS reduced SlosJ
60 and legal tenders increased 81 2S5 $780, against de
creased deposits OF ~ 0727O0 ana increased circulation
$4,000. The movement results IN the surplus re-
serve above legal requirements being increased $751;
Vo' the Total being now Si9O492JO. The per
ehage Of legal 10 deposits is now AZ against
ooSo Tor last week Deducung the specie Ia iull from
' deposits the legal tenders p 10 per cent OF
remaining currency deposits, against 2G9j by previous
statement The comparative totals as follows;