The herald., 1896-07-28
ALONG THE RAILROAD LINES
Southern Pacific Again Cuts
Wheat Rates
VALLEY ROAD COMPETITION
Proves a Boom to the San Joaquin
Farmers
Western Roads Are fired Of Low Ratss, Yet
the Santa Fs Cuts Below
the Reeord-Notes
Associated rress Snecial Wire.

| SAN FRANCISCO, July 27-The
Southern Pacific has been compelled to
make further reduction in wheat rates
in the San Joaquin on account of the
competition of the Valley road.
The reductions range from to 10
! cents a ton. and affect shipments from
seven stations south of Berenda. Two
| of the stations are on the Southern Pa
! cfic main line and five on the branch
| between Berenda and Raymond.
The redup ions were announced to-
| day, in anticipation of some new rates
which the Valley road will officially an
/ nounce either tomorrow or next day.
The Southern Pacifics reduced rates
| from Berenda Talbot and Daulton to
Stockton are 81 per ton; to Port Costa
$3.50, and to San Francisco So. The old
rates were: From Berenda to Stockton,
$2.05 per tom to Port Costa, $2.55. and to
| this city. $3.05 per ton: from Talbot and
Daulton to Stockton, s215; to Port Cos
ta $3.50 and to this city. $3.15.
From Days Spur the Southern Pacific
has made to Stockton rate of $2.10; to
Port Costa, $3.50 and to this city, $50
The old rates We're, respectively, s215
S2.15 and S3.25
The new rate from Herbert to Stock
ton is S2.l5; to Port Costa $3.50 and to
this city. sS.15 as against the old rates of
S-.25, s2.75 and $685. respectively.
From Knowles Station the Southern
Pacifics reduced rate to Stockton is
SEQ; to Port Costa. s2.70. and to this
city $500 The old rates were, reslCc-
lively, 1925. $2.75 and sS25.
From MADEIRA to Stockton the new rate
is 81; to Poo Costa. $50, and to this
city, SO. The old rates We're, respective
ly, S2.15, 500 and s915.
A RATE RECORD.
CHICAGO, July 27.-It is likely that
meeting of traffic managers of the south
western and western roads will be held
this week for the purpose of injecting
little stiffening into freight rates and
slso for the purpose of conciliating some
of the gulf lines that are of the opinion
that they have grievance and that the
best way to procure satisfaction is by
slashing rates.
The Rock Island has been an active
mover for the meeting and it now seems
as though it's work would be crowned
with success as far at least as calling
the meeting is concerned.
The unsatisfactory condition of the ex-
cursion business has led some of the Col
orado lines to start a movement for more
traffic than they have been securing of
late. a meeting of all the Chicag Colo
RADIO lines will be held in this city tomor-
row for the purpose of considering the
advisability of running a number of
cheap excursions from the eastern ter
ritory of the western passenger associa-
tion to Colorado. The excursions will,
without doubt, be arranged and the
dates and all preliminary arrangements
will be settled at the meeting. II is the
present understanding that all of the ex-
cursions will be run in the month of
August.
The Santa Fe today announced that it
would make cent fiat rate on grain
shipments from Kansas City to Chicago,
the rate to become effective as soon as
it is authorized by the interstate COM
merce commission. The rate is the low
est yet made on grain from the west to
Chicago.
The Chicago and Great Western has
cent rate in effect, but it is proportion
ate and applicable only to shipments
destined to points beyond Chicago. The
rate of the Atchison applies on ship
ments to and beyond Chicago, without
reference to destination.
A SALE CONFIRMED.
MILWAU kEE, July 27.-The sale of
the properties of the Northern Pacific
railroad company was confirmed by
T1t1, 49, l.,
today. The decree provides that as soon
as deeds have been executed the receiv-
ers shall give possession to the purchas-
ers.
While the bids for the three parcels
were up to the amounts specified in the
DEGREES of sale, u, 500 900, this sum by no
means represents what the company will
have to pay for the property. In addi-
tion to the other obligations that are
imposed, the purchaser is required to
pay to the bondholders of 1873 of the Sec
ond general second mortgage bonds the
sum of $1,000 for each bond together with
the coupons and interest that may be
due; to the holders of 159 of the third
mortgage bonds the sum of $3.50 per bond
of $1,000 and to the holders of 759 of the
bond of $1,000. The sum of $3.50 will be
paid to the Farmers Loan & Trust COM
pany for the holders of one of the col
latral trust notes of the face value of
$1,000. The purchaser must also pay all
of the costs and expenses of the sale to-
gether with the compensation of Special
Master Carey. Thirty days is the time
within which the purchaser must comply
with the terms of the SALE Ninety days
are allowed for the purchaser to ex-
anime the existing contracts and leases
and elect which to assume or reject.
Sound Honey Movements
INDIANAPOLIS, July 27.-Ex- Con-
gresham Bynum, who is member of the
subcommittee of the sound money
Democrats which is arranging for a ma
tional convention to nominate a sound
money ticket, said today that fifteen
states had already indicated that they
will be represented at the meeting in this
city August 7th. There are few of the
far western states that will not be rep
resented at the meeting of August 7th,
hesays, because the time set is too short