, 1880-02-08


The House Committee on Railroads and
Canals is entertaining a singular proposition,
which, if it should find favor with Congress,
Is capable Of very wide application. The
Washington, Cincinnati & st. Louis Rail
road Company proposes an arrangement
with the Government, by which it shall be
allowed to import steel or iron rails for its
road and pay the custom duties with
its bonds, which the Secretary of
the Treasur IT is to hold until the road has
earned their face value by serving the Gov
ernment. Such rule, If it were adopted,
would be endlesly convenient to American
citizens. For instance, a man might import
pair Of trousers and pay the duties on them
e Sa asay 69nd to 9n Is he'll he bad S dancd f o
ernment Office and earned enough salary i'll
it to pay his campaign expenses and redeem
his bond. The Committee is considering The
Company's proposition, but it will probably
prefer to recommend general law allowing
everybody to import everything and pay the
customs duties with bonds.
The same Committee intends to report IA
vorably bill compelling the Government to
guarantee the bonds OF the san Antonio d
tune of SIS, 600 per mile for 100 miles. It will
be observed that there is nothing mean about
this Committee, but the general impression IS
that the House Of Representatives is not ut
LllS ElIuG RlfklE Eut14NulCE1 ~ kA44Nt1{
REDUCTIONeN LUMBER RATES.
As predicted in yesterdays TRIBUNE, the
roads in the Southwestern Railroad Associa-
ton decided yesterday to make reduction
in the lumber rates to Missouri River points.
The new rates will be as follows: From Chi
cago to st. Joseph, Atchison, Leavenworth,
and Kansas City, 31N cents per 100 pounds id
H., - frrFn Nfscciccir.ri
River points north Of Keokuk, Il cents per
100 pounds; from Mississippi River points
south Of and including Keokuk, 1915 cents
per loo pounds. This is a reduction Of 81
cents per 100 pounds, and will, no doubt,
have the effect OF bringing more life in the
been almost at starldstill during the last
mSnth ton by or the s"G soeaed e i NIB eoRs' IRe
lately formed By he West Wisconsin, Sioux
City St Pa!l Slo9x cyyoi cGity riM9a rPiHctflc and
roads for the purpose Of taking lumber direct
from the Wisconsin regions at Eau Claire
and Chippewa Falls to Missouri River points.
The Northwestern Railroad, It is claimed,
Ilne.'' and is, therefore, fighting the other
Chicago lines on the lumber business.
NEW YORK, ONTARIO <s WESTERN.
Special Dispatch to The Chicago Tribune.
NEW YORK, Feb. 7.-On the ed ult- the
New York & Oswego Midland Railway was
reorganized as the New York, Ontario &
Western, and new Board of Directors and
officers were elected. On Friday an entirely
new set was elected, as follows: Jose F. De
Navarro, Charles J. Canda, Julius HalIgar-
fen. Charles S. Hinchman, Of Philadelphia;
Corporation Counsel William C. Whitney,
Samuel S.. Strong, E., L. Frank, Will
ian u. Fleiss, G. N. Jordan, Theodore
Houston, Gen. Burnham, Dir. Farley,
of the banking firm of George Opdike & Co.
and one other. It is understood that Mr..
Jordan is to resign the Presidency Of the
Company within few days. The significance
Of the change lies IN two facts: One is that
Messfs. Kuhn, Loeb & Co., il whose office
the meeting was. held, are the American
fiscal agents for the English purchasers Of
the Atlantic & Great Western Railway, re-
Gently sold under foreclosure. The
other Is that Messrs. De Navarro,
Canda, and Strong are members Of the
New York Loan & Improvement Company,
Which built the metropolitan Elevated Rail-
road. Wall street has been flied with seem
ingIv absurd runlors for some time past Of
proposed combination between, the Atlantic
& Great Western and New York, ONTARIO d
Western for the building Of connecting links
and the establishment Of another very round
about through trunk line via the New Jersey