New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-03-20
THE LOW PRICE OF CORN
AN INVESTIGATION INTO IT'S CAUSES.
THE INTERSTATE COMMERCE COMMISSION HEARS
VIEWS on THE CONNECTION BETWEEN
RAILROAD RATES AND THE

VIEWS on THE CONNECTION BETWEEN
RAILROAD RATES AND THE
PRICE OF FOOD PRODUCTS.
Commissioners augustus SHOEMAKER and Walter
L. Bragg of the Interstate Commerce Commission
Yesterday continued their investigation into the causes
Of the present low price Of and related to TINS
subject. into the rates for transportation OF fooa
products from points in the West to the scaboaTd Inc
Commissioners examining men who are in any
way connected with the buying and selling carrying
Of such commodities. Yesterday the first witness eX-
amincd was Melvin De Puy an old canaboat captain,
and now president of the Canal and ilarbor Protective
Union OF this state lie said that in his business tc
East bound freight generally grain. and that inc
legitimate terminal charges at Buffalo were Si4 90 on
900 bushels at opposition Canadian ports, on Lakes
Eric and Huron, the charges were - for the Same
amount Of grain. The canaratc for transportation
had varied during the last twelve years between II
and IS cents. The average rate from Buffalo To
New York was II cents. The through rate from
Chicago to New York now : cents, which did not
include the terminal charges at Buffalo.
Captain De Puy then took up the matter of terminal
charges at Ncw-York showing that they amount 70
S14 - on 900 bushels, against - at baItlHorc'
Trimming boat at this port costs - for 1000 bush
els. while in Baltimore the expense was ~ 30, The
total rate of transportation By water from Chicago 10
New York. including terminal charges at lui'ao an"
New YORK. was 10 cents a bushcl. The witness san
that the rates on grain by rail from Buffalo had once
been - cents. Sometimes the roads would cut them
to > = or cents. that could not tell what INC
value would he from advertisements In the papers.
Captain De riy then presented 10 the Commissioners
copies Of a circular which has been sent to members
Of the state legislature showing that the canals could
carry 2O6GiOOOO bushels OF grain from the We, ana
900 feet OF lumber on basis OF .lO DAYS oil
canal navigation. and $4,000 tons of Wcstb'umi
shipments. Last year. the witness said, the amount
Of grain brought East d3000OOO bushels and tho
comparative snalncss Of this amount he attributed t.
the terminal charges.
T.. &. Eodrlan the next wines said he We in tho
grain commission business and wa, member OF the
Produce Exchange being one OF the Committee on In
formation and statistics He did not regard the cN-
sting freight rates from Chicago as excessive lie
believed that the present low price IT corn ~ inc
,caboard the large crop last season. 7" the
high rates Of ocean frcehts and 70 the fat that the
farmer, Of Kan.aS and Nebraska. two OF the largest
corn prodncn, states we're unable - hold back their
producis and had consequently increased the stock In
the market II The farmers OF these States had been
as able 10 retain their until prices rose As 'hc
producers Of Ohio. Indiana and Illinois, the pressure
On the market would not have been 50 great, and
present ocean rates wonld not have been 50 high The
total ocean raics lat winter from ten t. twelve
cents a hushcl the average rate in 1s-7 and 1S5S was
from six - eight cent? About 10 per cent more corn,
he said had come from Kansas and Nebraska 50 far
hi, year than for the period Of any previous
year.
.,f,cr an hours recess, David Bingham. another
grain dealer and member % the Produce Exchange,
vas called t. the witness stand and said that from
the point Of view Of business man. he thought the
present rate, from CHICAGO 10 Nm York reasonable
and in point Of fact lower than for the distance
in any country in the world. \ reduction. say, OF
i've cents on "A hundred pounds. grain rate T. the
caboard would The wtnr-- Thought. end IN the farmer
getting the advantage Of about = TIE reduction ald tr
ocean rate would advanoc about the amount The
effect on the fore "a market would De inappic'ahc'
Mr. Hnehams theory o. Tie making the qfic"
Z corn 80 low wa that the country was suffering
from AN over-nprly Of the cereal Moreover the crop
4 oats in Illinois had been exceedingly large and ti'
being pat ou TIE maflc materially Affected The price
u com. \ largo movement ln January had caused
decline. Tic amount OF corn sent 80 far
this year f. Great Britain. "a' about
100000 bushels, which about cinallei That
exported during Ito two preceding years.
ocean rates weo not regulated t. any great extent in
Ncr York ly the price of corn controlling factor
n the c,aAlsln.lt Of rates being what j, called sur
pn. tonnage. ocean steamer, require 80 much grain
for ballast tho quantity AayMs Arlc influence upon
dee pucc.
At tl, Instance Il the Comml--ion Nr. Bingham
chem went into the subject - tlc competition 81
10 wheat Iu.-ia D., The most formidable rival 81 ih's
eDantry Australia. Tire Argentine Republic and INDIA
rr.,iu,c small quantities. which, nevertheless. 'Ni'f
Into the competition as tufhlns elements. having
NOR. Z, do ulih bringing down tho prize, man any
fhn. ri.. ln corn hr said. Tire competition J., not
10 .,,.,. fh, production along the DAunic not com
,,.fIf. WIN do. United state. L. anF extent NE
. ,.,.. r.nol,i, D.. il fh.. respect. the -ir,n-c-t
,..,, .ff0r H. relfg 0nc third ~ tle corn entering
i.n.iirI come, from That country. me pu,",' h'"
c,ci. b. inferior to the American corn. ara hfl"s'
I,ul Morton. until rcocntly general freight agent
q tAc 'n'a-o nnlinei"n ana "nus '''','''" , 81"
ihc N..-..T River TO fnc -raho1nl were mad" mp or
,i , az, ,. =, The N.--l..ippi the rate, from the
latter T., tlc ..aDuird being added lie AID ih1t me
. ,. .,.f .a. i,-. than that wheat, because the
" ~" ,.. f,-,'.r ,,i. lc.s and the movement iu
.o,| i. wheat IT, considered the rates ON food
", s,,. ti..'. stat, and Iowa a. reasonable. 80
'' vnrt.n ronel.t n would not bc practicable
on Grain bat th,t Western ronds would De glad {"
advance the fatcs on merchandise to chc'' 'hA'
= ". Felton,. nr.t vice pre- dcnt Of 'hc Ncw York
Ialo T. c and Western ha'lr"ih '"mphnN, s'lu
fhaf ile red irti.u iu rate, hy the latni"i"
and ohio Road lri summer f. 20 cent nn,h,' ,'n
hr ne' about o. j., ling r.lr H. hrn.'rn ,n,'
inr commerce uui lu force. nor dd he ihlnh "
practicable p" ad'n1o' rats on high clh., goods I"
i,o ABOUT a core. u.ndiu- reduction In the charge
far g-in transportation. because the quantity 81
The former Wa mot arcrt enough {" justify the ~
Merchandise fic .hoVcd how the advantages Of the
r.au.tion made hy the Baltimore and Onto lat
instead 81 going T. the farmer. lie said his road
didn't carry much grain because it was not profitable
n t;s point tire Commission adjourned the in
quiry unLi II O'Clock THIS morning
F0rGHr 4 BLDCDHOrND, THEN THE FLAMES.
FLAMES were d discovered In J. T.. fcdcll's drygoods
store. ~ 500 eil 2i3 and ei5 sixth ave, at 10
%. ..I