New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-08-11
TRYING TO GET "ARBITRAGE" ADVANTAGE
PREVENTING A CORNER" IN THE STOCK Ex-

pprvrNTJNG A CORNER" IN THE STOCK Ex
CHANGE BY A RULING OF THE COMMITTEE.
Dealings in the now stock and securities OF inc
ph,adclphla and Reading Railroad Company were De-
Gun at the Stock Exchange yesterday. diHerenco
OF II per cent was maintained during ,he Jay al
though the price Of the first preference Dohus gwen
for the 90 per cent assessment mado inc uiicr'ioo
nearly 10 per cent. The profit was eagerly shacnoa
nv brokers entirely familiar with the situation rut
there is reason for thinking that they regreued 'nr
attempt to gain arbltrage" advantage tno prife
of the new stock could have beer advanced 10 any
figure because the sellers could not possibly de'er
It, Shortly before the close OF business, the CohniV
tee on Stock List announced the following ruilhg'
which prevents a corner
"Inasmuch as It will require four days 10 e4chanso
the old reorganization stock certificates OF the fhd
delphia and Reading Railroad Company ior the vOunb
trustees certificates, plus the first preference 1onus'
this committee rules ina, until further notice all con-
tracts in said voting trustees certificates are when
issued by the company Inc connd 1 49,
certificates Is constantly decreasing, no tufther Trans
actions be made III them"
ORDERING Al CHEAP TARIFF TO CHICAGO
Yesterday the reduced immigrant rates ordered
by the Trunk Line Executive Committee on the pass
of So from New-YOrk to Chicago went in'o ehec'
by all the roads, the Delaware, Lackawanha anu
western and the New-York Ontario and western
making tho Same open rate. Ii Is not expected thse
further reduction VIII DC feacnct lOT sum- I'M
and 10 is hoped that the Lackawanna may ne IN
duced prevent It's immigrant agents ifo uenoIaiih
ing rates by cutting commissions before the tarii Is
lowered further.
MISCELLANEOUS RAILWAY INTELLIGENCE.
Tho current number Of " Bradstrcets Introduces
some changes In reporting railroad earnings the
novelty consisting the inclusion Of the revenues ana
mileage of very much larger number OF roads thah
II has hitherto been possible to deal with IN ihis coh
nection."
Chicago, Aug 10-The roads interested In Iowa uahc
agreed to-day to adopt distance aid for that state
to 20 into effect August 13. The rates now IN ehect
are considerably reduced by the new schedule the OBJECT
OF the reduction being to harmonic the rates within he
State with those Interstate traffic. This Is not
compromise tariff designed to pacae the Iowa com
mssioners but is step toward equallLng rates IN inc
interest OF various shipping points
General Passenger Agent Charlton. OF the chicago anu
Alton road has addressed circular letter to the general
passenger agents OF the Western competing lines in wnch
he refuses TO acauesce the reductions which nave oee
made by the Eastern trunk lines in emgrant rates.
Chicago Aug 10.-The Michigan Central ana the LaAe
Shore roads have Issued tarf on dressed Ocet anu
live stock TO become effective August 20 II advances
the rate on dressed beef its present basis Of GEMS
nor 100 pounds to % cents Chicago TO Newf"rS ana "
cents to Boston and Philadelphia The new rate on cattle
will be 10 IL cents to New-York, &c to Boston, ana
% to Philadelphia. The advance Is Just sume'eh' 10
enable the railroads TO handle the business without acua
loss TO themselves The Pennsylvania company mas HUI
vet given notice Of a similar advance.