New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-16

week were $l,555, against 81 1909 for the same
time in 1877. The total shipments from this port
westward thus far this year by canal have been
144275 tons against 1872 800 tons to the same date
in 1877; and the tolls collected on the same have
been $21, 1922 in 1878, against ,276 in 1877.
The notable features Of these weekly reports of
shipments by canal are the large increase shown in
the shipments of dry goods and groceries, class
of merchandise which heretofore has gone almost
exclusively by the railroads. And the fact gives
color to report that the railroad schedule rates
on west-bound freight are no longer adhered to IN
the making of contracts. By trustworthy author
ty it is asserted that there no longer are any es
tablished rates, and that the Baltimore and
Ohio Railroad is taking freights from New
York to St. Louis and Missouri River
points in total disregard of the apportlOnment
scheme and of the established rates. The decline
in the coal shipments from this port by canal which
amounts to more than four times the total loss of
$4,000 tons in all shipments for the season. is easily
accounted for by the fact that the price of anthra
cite coal has been advanced to point where its use
becomes a luxury at the West; hence the smaller
demand for it.
The stock market to-day opened with an excited
rush, aud for a short time the prices inviting
to that class of traders who always wait for sure
thing" before buying. Under the con-
tinued purchases of the Vanderbilts "-the
initial letters of whose first names would
embrace the entire alphabet-Lake Shore adj
vanced from 64ss to So; Michigan Central rose
to G6l2, and Central and Hudson sold at 11Ols.
Erie however. did not improve upon its first price
of 17l2, but rather yielded while the remainder Of
the market was strong. The recent sellers of this
stock, are said to express the opinion that
if matters look right. they may begin to
buy their stock back for another turn
somewhere between II and 10. The granger"
stocks however. strong at the opening; st.
Paul selling at 81 to 31bs the preferred at 90 TO
$751; Northwest at 80 TO SO, the preferred al 666s
to 67ls; and even Wabash started at 80 per cent adj
vance-135s-and rose to IA. Following all this
grand display of pure manipulation, the real busl-
ness of the day-the selling OF stocks upon
market prepared for the purpose-was begun; and
hence the programme of a rising market was
quickly changed. first to q dropping and feyerish
tone, and finally to break in prices, averaging
about 2 per cent for all the active stocks
The Hannibal and St. Joseph stocks to-day be-
came unusually active; the preferred selling up TO
3Ol2 and the common to 1924. The why or the
wherefore of this movement is as much a mystery
as all previous movements of the kind in these
stocks have been. The company is managed entirely
the "close corporation" principle-more so by
its present directory than by any former One-so
that actually nothing is known of it's condition
or business. But every once in a while
there comes favorable report of earnings for
a certain week. when the stock enjoys a spasm of
activity; its price is advanced or more per cent
some one sells about 1000 shares, and then the
stocks again lapse into dulness the gain in prices is
gradually lOstand quietness reigns. until everything
is prepared for a repetition of the same lucrative
turn the market. SO 1t has been with these
stocks for years, and so 1t is likely to be until
l.. v...vtvr 10.
which they obtain no information.
feature OF to-day's market was the large busi-
ness done IN Delaware. Lackawanna aud Western
at a decline OF 3 per cent. and the drop Of 3l2 per
cent IN the price of Delaware and Hudson on light
business Morris and Essex declined from S3l2 to
So and Central of New-Jersey, after rising to 80,
sold at 33lA. The market closed weak and un-
settled.
RANCE