New-York tribune., 1878-04-26
THIRD BoARD-2:30 p. NJ.
THURspAY. April 25-P. ".

Below we print the detailed statement of the ship
ments from this port by the canals for the first week
after the opening. The shipments amounted to
1921 tons, and the tolls collected TO 81 ,496. No
comparison with the movement of last year is yet
possible because in 1877 the canals were not opened
until May 8. But glance at the statement shows
that the shipments cover almost every variety OF
merchandise from coal to dry goods and verifes the
railway agents complaint that the canals are TAX
ing away their west-bOund business" The receipts
here of produce by canal reported yesterday and to-
day, were from the interior of the State. The first
through east bound boats only passed Utica yester-
day. having been blockaded by sunkcn boat, which
grounded in attempting to pass lock before suti-
cent water had run in.
Western papers come to lis prolific with reports of
trouble between the Western railroads. The Chicago
Tribune says:
"The Chicago roads leading West are just now
engaged in a little tussle among themselves regard
ing the Colorado business. and rates have conse-
GuentIy gone down to unprecedentedly low hgures'
The fight is q triangular one, and is carried on be-
tween the Chicago, Burlington and Quincy ana
Atchison, Topeka and Santa F6; the Chicago and
Northwestern and Union Pacific; and the Chicago
and Alton, Chicago, Rock Island and Pacific, aud
Kansas Pacific Roads, and grows out OF the
competition of the Union Pacific for the Denver
business via its new Longmont branch. The rates
from Chicago to Denver quoted yesterday were 80
cents per 100 pounds first and second classes, 80
cents on third class, and 20 cents on fourth and
special classes. How immense the "cut" Is can
best be seen by comparing these rates with the reg
ular tariff rates from Kansas City to Denver which
are: First class. So 10; second class 50; third
class, 81 70; fourth class 81 40, and special class
81 80 To these rates have yet be added the reg
ular rates from Chicago to Kansas City, The rates
on lumber have been reduced in the same proportion
as the other rates"
The St. Louis and Cincinnati papers are anticipat-
ing an era of cheap fares by an open fight between
the Ohio and Mississippi and the Nandalia lines,
which, together with the fierce competition existing
for the St. Louis and Kansas trade makes railway
matters at the West rather lively.
The volume of business IN stocks, to-day was
less by $4,000 Shares than that Of yesterday, but
the tone of the speculation was ONLY a little less
feverish. Very soon after the opening there was
no trace of the buoyancy which characterized yes
terday's close and prices declined quite as rapidly
as they had advanced. Subsequently the market
was subject to frequent fluctuations. and finally
closed with a rally at prices generally below those
of last night. The strong points of the
market were the ST. Paul and Northwest
stocks while the weakest spot in Lake
Shore. 1t is intmated that the settlements
of rebates the business Of the last three months
have made n material change in the apparent mel
earnings of the Lake Shore Company, and that even
some of its prominent officials are much disap-
pointed at the result The stock to-day declined
from G42s to G2ls but ended at G3ls Michigan
Central on a light business sold at 70aG9l2a G934.
The progress Yesterday made III the reconstruction
of Erie seemed TO be less thought of today or per
haps there too many persons VINO had lhe
point" that the price OF the stock was To n,''
tgfq tran ct a = 4
clined from 13 to 1851 12ls Central and Hudson
fell to 1854 but rallied to 1OGl2.
The granger stocks although Crcning and closing
strong were not free from vide fluctuations North
west common fell from j2l2 to JO@i and rose again
to 52lf: the preferred sold at = IloS 81.
Paul common at 49l2a i9Ji al S5sn fHl2; the pre-
feTTed was steady and firm, at 13l2073l4u a. The
remainder of the Western stocks were cOmpara-
lively dull, and after declining made partial and
in some cases full recovery.
OF the coal stocks, Delaware Lackawanna and
Western was fairly active at prices ranging from
5jlIa5ili to %. Delaware and Hudson was duli
at 5l@i ., and Morris and Essex NJ ~ l2d ~
All the sales of Central of NcwJcrscy at 15li
The privilege Of stockholders 10 assent to th6 new
reconstruction scheme expired today the holders
ing subscribed to the conditOns--to pay 10
per cent III cash and surrender 10 per
cent of their stock, receiving therefor new
mortgage bonds and income bonds at par. lhs
makes no change IN the status OF stock unasNeHtcd;
There remains only class Of stock the capital
stock is simply reduced 81 ,23l $50, for which there
will be issued the same amount OF income bonds,
and for the ike amount of cash pald ln, the same
amOuntOI new mortgage bonds. western Ihloh
was active and declined from 81 I2 90 sos, raylng
at the close to 81. Pacific Mail Huctuated between
2l and 2OI202O7s. The total sales were lSO,j6G
shares and the market closed fcyerlsh and lTregu-
lar.
RANGE or THg STOCK MARKET.
nj