The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-06-12
New YOrk's Alarm ut the Grain Trade
AdOwn the Mississippi River.
New York Herald.


New York Herald.
The opening of lake and canal navigation,
and, above all, the new outlet for western
produce offered BY the Mississippi barge lii Q /,
have seriously Gu! into their freight earnings.
The very important nature of this latter
competition has never been seriously consid-
cred by buyers of eastern and western trunk
line stocks, nor by shippers of domestic pro.
ducts. Tho New York board of trade
alarmed at the direction from Atlantic ports
Of western products intended for shipment
abroad, have been locking critically into the
matter, and at their last meeting accepted
the report of an expert member. in which
the following paragraphs referring to the
Mississippi barge Ines occur: "Tbese
barges have an average capacity of about
!,S0O tons each, and about seven
barges Or nine thousand tons 90 to one
tow, 70 that one Of these tows rep
resents about 900 car loads Of 10 tons each.
The rate for freighting from st. Louis to
New Orleans by bsrges is about cents per
6ushel, while the pool rate by rail to New
York from st. Louis Qess mileage than the
river transportation 10 New Orleans is 20
cent, per bushel. The average rate of
freight from New Orleans TO Liverpool is
about pence per bushel; from New York
10 Liverpool Al pence. So it appears that
grain is carried from st. Louis to Liverpool
via New Orleans for II cents per bushel
while 1t costs to transport via New York 29I
cents. From st. Paul, Minnesota, the rate
through to Liverpool via New Orleans. is 27
cents, while via New York it is 425 cents.
The Illinois Central railroad is building at
Cairo, Illinois, ono Of the largest grain ele-
vators in the world, intending to make that
point the outlet for grain from the large
sections which that railroad and its connec-
lions drain. They offer 10 forward
70 New Orleans from Cairo by
rail tor Is cents per hundred pounds;
While by the regulations of the pool they
are obliged to charge from Cairo to New
York, between the LIST of April and the 3lst
OF October, S5c. per 100 pounds, and
between the let of November and the 3lst
OF March Acc. per 100 pounds. Our port is
To-day full of chipping, the greater part of
winch arc grain vessels, at present unable to
obtain cargoes, while at New Orleans there
are loading for European ports more vessels
shan are loading here. Among the names of
vessels at New Orleans may be recognized
someof those which have heretofore been
accustomed to carry cargoes Of grain out of
Inis port. The vessels here have but the
remedy to 60 to New Orleans for cargoes or
70 wait in idleness until tie Eric canal is
opened and brings to them tho cargoes
which the railroads have failed TO trans.
port. Steamers and sail vessels are
almost daily leaving this por! in ballast for
M New Orleans, to obtain cargoes there"
There Is no reason to suppose that these
statements arc not thoroughly and entirely
correct, nor TO lessen the belief AT the
earnings of the great r-''' and produce
carrying lines must sbc..., De seriously eifoc.
!ed by this formidable competition. The
Dedlamites escaped from their strsigh,isck-
els this afternoon and again set the market
howling. In this they were helped by
orders to buy from trans >atlantic lunstcs.
all This In the face of the railroad wrangle,
expanded bsnk credits and un.
certain crop reports. The lat
Yer taking the wheat growing dis,
'tlcls through, are worse than uncertain.
Advlces from Michigan arc 10 tho effect that
INC yield in that state will DO a. least fifty
per cent below that Of last year, and that
. l; which produced nineteen bushels then
WIN not produce more than eigh. bushels
a Not so bad, but bad enough 10 show
Increase OF 10 TO 20 per cent in tho general
crop yield ofthe country Is what the most
M,sllaole reports bring us from tho west.
nevertheless aud Notwithstanding tho probu
sole decrease of freight aud the formidable
competition threatened by railroads and
MYERS the trunk lines continue 10 retain the
soslrdly high prices to which they have
reached. Except the sharp change from
weakness to buoyancy, there was littlo to re,
mark about to,day's nnarket.