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


open for shuhlne or evaHon.
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THE GRAIN MOVEDENT
The railway managers are killing the hen
that land The golden egg. Their one chance OF
temporary recovery from the extreme dIstrus
which their mismanagement and cOnccamen
of facts had caused, and which, III turn, had
brought them to the very verge of bank
ruptcy. was in the increased earnings promised
hv n large crop OF grain. But with rare iatu-
ty, they are shutting and barring against
themselves that last door Of escape, by sue
ccssivc advances Of rates far beyond the fig
ures which, they have claimed, yield them Il
handsome profit, and at which grain is Row
moved in great quantities by lake and canal
The consequences are well worth the attention
of stockholders. Since the first of August
the shipments of grain from the eight cliiei
Western markets have been barely 100000
bushels per week by rad-10,312,231 bushels
in ten weeks. Moreover. although enormous
quantities OF grain are now pressing forward,
the railroads are obtaining not move TIA n they
did in AUGUST, and absolutely less than they
moved in May, before the price Of stocks had
fallen to the lowest point. During the two
weeks ending May r. the shipments by
rail were 2,55O,G0 bushels, ana by lake
4,190, 900 bushels But during the
two weeks ending October 13-the latest
officially reported-thc shipments from Vie
same points were only 1,95j,3l4 bushels by
rail and 9,5G30G1 bushels by water No
wonder that men begin to that the lI-i;e
crop VIII not drag out of bankruptcy roads
which are 80 MANAGED as to transport in the
height of the movement, less than they Sc
cured in May, from the fag end of a small
crop The managers talk continually of the
"lack of cars" Yet the very same roads
moved. from the very same Western markets.
an average of more than 100000 bushels
pcr week lover 10000 900 bushcls) for nine
weeks in succession last year. Having trained
themselves long to the c0ncealment of truth,
the managers apparently are practicing upon
the cIedulity of the public with stories that
are palpably not true.
The one thing certain is that The railroads
have c0ntriycd to move less grain this year,
from very large crop, than they moved last
year from q very small crop. Last year. dur
ing the eleven weeks cndii & October Il, The
railroads moved from Western ports IL, $685.,
$40 bushels; this year during the eleven weeks
ending October IS, they have moved only TO-,
653.147 bushels All the enormous increase,
and over 10000 bushels more, The railways
lost, and yet they labored to make people buy
,tocks IN the faith that great crop would pull
them ont of trouble. To the credit ct the
pullc, it rcsolutely declined TO be gulled.
Meanwhile, the enormous movement, from
other countries ~ well rs from the United
States, begins to have its effect. In Great
Britain, to latest mail dates, the surplus of de
liveTics of wheat over consumption had
amounted to 6,726,000 bushels against 5.17S,-
900 bushels to the same time last year; the
supply was accumulating ut the rate of ,500,-
800 bushels per week in excess of demand,
and there was steady decline in price. The
Shipments from British India this year have
been. to latest dates, over 100000 bushels
larger than those OF last year. and the ship
,nents from Egypt were also much larger.
Australia, at b' At advices, promised surplus
available for expectation Of 100000 to
10000. 900 bushels. The shipments OF wheat
from this country, during eight weeks ending
October II, were 1851. 421 bushels larger than
during the corresponding weeks last year. but
10y no means as large as they might have been.
The lake n"et ana canal DOitS were crowded,
but the railroads moved only about 100000
bushels, when they had on hand abundant roll
ing stock to move 1G.00o,OoG bushels in that
time as they did in less than eight weeks last
wear. The markets of Europe are beng
rapidly filed The demand may be expected
to subsido when navigation closes, both be
cause the supply accumulated will then be-
large. and because the Western farmers VIII
not be in haste to sell at low prices paying to
the railroads more than twice the rates they
charged last year. Tho higher tho railroads
force the rates. the less gram they will get to
carry.
As for New-York, its commerce already
suffers from Mr.. VandeIbilt5 surrender Of its
interests, precisely ~ we predicted that it
would. The receipts during the last three
weeks, since the railroad combination lifted
rates, show the effect clearly. Baltimore re-
ceiyed, during the three weeks ending October
20, 1,SS0,O00 bushels of grain, against
1,l77.O00 bushels during the corresponding