The National tribune., 1882-10-26
lis Industrial, Commercial, Railroad
and Agricultural Development.
FINANCE AND TRAD E.
Latest Reports from Leading
Business Centres.

market for wheat has been frmcr ana advanced
some as result of the belief that prices are low
enough to make ii a safe investment for money.
Corn is higher. because the supply of old grain
is being rapidly exhausted, and the markets,
both in New York and Chicago, are cornered.
Stocks Of provisions and lard have been reduced
to a lower point than at any time for several
years. and are controlled by two or three prom
inent spectators. Oats are higher on account
of the diminishing visible supply and the in
creasing consumptive demand. The market for
manufactured iron in general is weaker than
when last reported. The regular quotations
account for a large proportion Of the new bust
ness done, except at a few western cities Dull
ness affects many mills and furnaces. Even pig
iron threatens TO drop back point. Petroleum
certificates have reacted cents during the
week, and exporters refuse to buy refined oil,
even At further concessions. The movement of
anthracite is fairly active, but October rates are
not generally obtained. Ocean freight rates are
firm, but cotton is about the only freight offer
ing itself for shipment in any quantity.
The Montana Herald gives publicity to yarn
told by James Carroll, of Helena, of a remark
able discovery in a gorge in the Yellowstone
Park He suddenly discovered. while waiting
for the approach of some companions, that the
atmosphere around him was a non-conductor of
sound. He attempted to hail his companions
but not a sound could he utter, and he dis
charged his gun at panther, but there was no
report, though the animal was wounded, and
left bloody traces behind him. His companions
met him and were equally frightened as him
self After riding quarter of a mile they got
out of the charmed air before they knew it, and
one of the crowd nearly burst the tympanum of
Carroll's ear by shouting at him at the top of
his voice.
The Government has received dispatches
from our Minister at Berne, Switzerland, re-
porting the almost total failure of the potato
crop in Switzerland. Potatoes forming one of
the principal articles of diet of the Swiss Mr..
Cramer assumes that large import must neces-
s2rily take place. and he assumes that Ameri-
can exporters of breadstufs should make ar
rangements to supply the deficit caused by the
failure referred'to.
United States stamped envelopes will be sold
to the public after January l, 1883, at reduc-
ton Of ten per cent. on the present price. The
Post Office Department has also arranged to
print special return request notices upon envel-
opes without additional charge when ordered in
quantities Of five hundred or more.
The failures for last week reported to New
York number liz, of which ITO were in the
country and in New York.
RAILROADS.
Officers of the Pennsylvania Railroad Com
of
can do as much business with two tracks as the
New York Central does with four. They state
that it is done by system of long sidings.
These sdings are five miles apart, and slow
freights take to them TO make way for faster
trains. When accommodation trains are run
ming at intervals of few minutes a fourth
track is a necessity, and the road is well pre-
pared for such exigencies.
The stockholders of the Boston and New York
Air Line Railroad have ratified the lease of the !
road to the New York, New Haven and Hart !
ford Railroad Company for ninety-nne years. |
at four per cent. to the holders of preferred /
stock. Edward L. Gates and Herbert B. Gates
of New Jersey and Charlotte c. Deallin, of Col
chester, Conn, have brought suit asking for an
accounting, and for the appointment of re-
ceiver for the Air Line Road.
A meeting of general passenger agents of
Southwestern roads was held in Chicago re-
Gently, and a schedule was agreed upon, which
is an advance on the rates heretofore prevailing:
Between Chicago and Kansas City, Leaven-
worth, and st. Joseph, $14.60; between Chicago
and St. Louis, $50; between st. Louis and
Kansas City, $3.50. The Missouri Pacific will
fix the rate between st. Louis and Atchison,
Topeka, and ST. Joseph.
The report Of r. A. Elmer, Second Assistant
Postmaster General, for the year ended June 80,
1852, shows that the cost Of railroad mail trans
portaton was 5lO,373,515 against 50, 1913, 10 for
the previous year. The increase in mileage
was 1891 miles, or SO per cent. This is the
greatest increase in length of railroad routes
ever made in any one year, and is greater than
the entire railroad mileage in 1871.
The Rock Island road announces the compile
ton Of a traffic arrangement with the st. Paul
and Omaha line, by which il viii bill freight
through from Chicago to Sioux City This
seems TO indicate that the Rock Island road has
secured a controlling influence in the st. Paul
and Omaha, over whose track the Northwestern
road gains admission to St Paul.
VIM. n Wallace brought suit against the
Providence and Stonington Steamship Com
pany al Boston to recover damages for personal
injuries inflicted in the collision between the
steamers Nauagansett and StoningtOn June,
1850. The company made defense under the
limited liability act, to which Wallace demurred.
The United States Circuit Court has overruled
the demurrer.
The application on behalf OF the Baltimore
and Ohio Railroad Company to lay tracks
through Wilmington, Del, for its Philadelphia
line was made in the name of the Delaware
Western Railroad Company to City Council has
been granted.
INDUSTRIAL.
Recent efforts TO place rail contracts abroad
have failed and resulted in the placing of nearly
4 quarter million tons in American mills dur
ing the past few days. The price has declined
10 about Sl3, which is below the price at which
iron rails can be made. The American iron
rails mills viii soon be out of work, and will be
under The necessity of adapting themselves to
the now improved conditions which have grown
ND about rs within few years