New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-04-06
A DROP IN LAKE TRAFFIC
THE SEASON OPENING GLooM1LY,
rREIeHTs ARE SCARCE AND RATES Low-sH1r
OWNERS TRYING TO FIX PRICES,

FREIeHTs ARE SCARCE AND RATES Low-sHrr
OWNERS TRYING 10 FIX PRICES.
Buffalo, April 4 (speclal).-Dunng the last few
weeks the lakemaTine situation has undergone one a,
those sudden and unforeseen changes to which tho
trade has always been subject, and for which n,
amount OF foresight has ever been able 10 pfoyids
Tho confidence OF two months ago is gone, and vessel
mon are holding meetings at the principal ports, IN
search uf some basis for combination on rates and
for shortening the by agreements not to sai
untIl May. Although the causes of this depression
have been developing for time It was not untl
vessel men began to force opening freight that
they thoroughly realized how entirely they had lost
control of the situation
Last spring the condition of the coal trade turned
everything in the vessels favor long, cold winter
had left the coal yards in the lake region absolutely
bare OF coal, and tho coal shippers loaded the first
aeets down with their wares and sent them out Just
soon they could force their way through thu
Ice To intensity the situation the Straits of Macknaw
opened very late. Only twice before IN thrty-fys
years had they renamed frozen long. On tho
4th Of May, the opening day. the feet from Chicago,
with 100000 bushels Of grain board after
struggle through ice for several days. met the fleets
from. the Lower Lakes with 100000 tons Of coal on
board, bound for Chicago and Milwaukee
Now the very opposite state Of things prevails Tho
mild season has left the receiving docks piled full of
coal. There is said to be 10000 tons of hard coal
alone left over to say nothing of soft coal Nobody
wants any, and ali that is shipped for some time VIII
90 to the companies yards to lie there for months.
The individual shipper is in despair over the chancs
he has Of selling coal and forcing himself INTO tbs
trade So the coal.shipper Is not going TO help ths
vessels otherwise dun opening. Coal rates,
which for some years have opened at rs cents, have
now started at 90 cents, but only two vessels have
been taken, and the shipper who took them has nos
relieved his blockade of coal and Is ready to wait
with the Others for decline. Even vessel men look
for drop to 20 cents.
Add to this the disappearance Of ice from tho lakes
and the opening of the straits exactly six weeks
earlier than last year. situation In itself omlnous
unless something cOunteracts It. This Is the earliest
opening but for thirty-f years, and an In
evitabIy long season IS in prospect II only the
weather and tho coal trade were against the he's
there might be some way out Of the dilemma Bus
the fact is that nobody Is ready for business so tho
ore shippers the grain shippers and the lumber ship
pers arc going to sit still and walt till the vessels
to their terms.
The leading factor IN the lake trsfnc Is Iron ore
1t Is the largest item and pays the heaviest freight
But the iron trade Is not in so healthy condition
as It ought be for good feghts. Though 1t Is Do
lieved that as much orc win DO moved nom Eseansbs
and the Lake Superior ports eastward as there was
last year. It not hAely to start very early
Scarcely half a dozen charters for the season have
been made al OF thsm from Escanabs to Lake Eric
norris AT Al 10 with Lake superior holding back and
refusing To mako a rate. VIII the vesseowner hold
out for paying freight viii he find himself next
fall carrying out his contracts at rates away below
what no should be getthgi II Chicago and Duluth
had their elcy ators running over with wheat aud
corn there might be hope In that direction, but the
grain In store increases at very moderate rate aud
freights are low. Saginaw lumber faeS opened nA
week lower than last year.
The propeller lines met hero last week and adopted
freight rates substantially the as those of last
year and there was dire complaint OK rulnods COM
petition In freight rates last year. The only hope
then from this quarter Is that heEe viii be enough
early package freight to keep these lines out OF COM
petition for coal and grain There were about S,S'
enty-fvs propellers Of from 1000 to 1000 tons ca
pacIty represented In the line meeting. They make
a round trip Duluth every two weeks and %
Chicago in less time so that their carrying capacity
Is formidable
Though the foresight of the vessel-ownsr Is not
sufficient to avert these periods Of depression MS
plan Of operations has much to do with prcipits!ns
them. Fortunes are usually made in this trsde oy
strides or not at all. The wind IS with you or IL
Is heavy against you. So the VESSEL man Is ven
table barometer. With bright prospects he rises high,
but with the advent Of poor frcighs ne sits In hs
oface and croaks. II freghts drop of In mIdseason'
IS they sometimes do aud be has to tie his vesses "
for awhile he has attack Of blues and VIII sen
out at a heavy discount All this would WORK 's'
little mischief TO the trade itself but for tho iac'
that there Is a shlpyard In every port Of any nom
from Buffalo TO Chicago. Last season wss prohtson
one Though the tonnage of the LAKES was knesn
10 be already large the of the scale to the pron
Side was but fairly made when all these shpH"
began to SGT up now steamers. AS resuh tDes'
are to-day more than 100 craft, most OF them "
$500 tons capacity, almost or quite ready iof ots.
ness, that have mover yet carried load heio "a
lake shpyarus FEW this sudden oyer-Duldihg oo ~
not occur anu fluctuations would DO mueh Nss Nv
Quent and less eAuelne, -, ...,.h+. @riu
Stop the building Of surplus tonnage. Inc a. i -
trade incru asIng IN volume quite le.eRsos iiSoads
year and II is not going 70 aes"9 at tbe paes t1sy
must have now in order 10 hve. Even In On az
possible the isAe route must ,S % az on any esdns
article Of freight drop below the syersse o "a rom
articles and the shipper is left TO l be- had sw
heard Of They all In some t , Stsse and bis psS,
let him offer small ad i sostSssht lOu. ready
load bis commodities ..,,,s nv rsil and It never
THIS asxlOy not p pSspef Shows thai he can
ooe Sssn sS cars fer sS any sy
he can cOnjuro up ho D. % %oto are built. 80 the
back from beard wssB n es Ss
plenty 1t seems 70 % for lower rates, wallis
9as to ssvf s they not able 70 AsfP Zines "
constant supply w sosaslsrly need and laying extra
| number Of cars tney foe
! through tracks, an, 6spression In the Lake trade
But after all his ,eSsstrous to any but the owners
not % The ma Ts Sas sSe now uns,s
SO h fas Rns DC Ss. 81 a e
sS are 10 s On coal e 'PS
saSsfI SssT money! sais s Ss
to make some Got only holds good, but u AZ the "a
q the ,s aches which Is tho most pr0n'a0'0 '
| construct ~
~ rMroBrAyF RAInRoAD DECISION 1u,.,m.