Daily press. [volume] (Newport News, Va.) 1896-current, 1905-02-01
Marked Increase in Export Trade
During January.
GRAIN RATES ARE REDUCED
This Pert, New York, Baltimore and
Philadelphia Should Receive Ne.
teriai Benefits.-seven certs per
Hundred Pounds Supposed Reduction

~ W.
OF this port has been increasing dur
1nS IN" past two months bears out the
Predictions made by local Shipping
me:I .aSt FILL. ana the ont]oo,l for tho
future is even brighter than the most
optimistic at that time had cause to
helie:e it would be now.
Yesterday marked The close OF the
hrst month Of the new year and the
total values OF exports for that month
AMOUNT to nearly S .0OU,00O. The
records for the months is rot yet com
ptete. but with the cargoes Of five
great ocean going freighters vet to be
entered 1t mounts to over a million
ard a quarter dollars. Those figures;
bring back TO the minds of the people
< mere the good old days when Newport
News was in her bloom as a port.
VI interest 20 the people Of this city
IN connection with the export bust
ness here is the nouncemen from
Philadelphia that tho Chesapeake and
ONO Railroad Company. the Baltimore
$500 >" iNalllcdu company anC the
pennsylvania Railroad have
made a reduction in the grain freight
rate from Chicago to Newport News.
Baltimore. New York aul ~Philalelphia
IEla new rate will take effect today.
The exact reduction in tie rates is
nnt known, but it probably is abcrt Z
cents On 4 hundred pounds. This
would put the rctcs ct the following
r. Newport News. II cents.
10 Baltimore, 10 cents. "..
&c Philadelphia. 10 L. cents.
!C New Itlk. 13 ID cents.
This announcement must OF neces.
slt: effect the grain shipments tro:,
this port, for With a reduced rate from.
The west 70 this end the ether three
ports mentioned g great amount Of
grain Which has heretofore been shir.
ped New Orleans and Galveston
Will be sent through this port. Balti.
more and Philadelphia. IN previous
tunes the owners OF large ships have
IL mos instances found it more profit.
able 10 LOAD al the S%"ulhera ports a.;
the grain rate was cheaper.
People who are III Il position II know
Of what they are talking say that tho
export grain trade here will Increase
greatly in the nexJ TWO months ard
present indications point 10 the ,rutl,
OF these statements.
..'. .|.. r.. MIR lnrafi. + aei~-o ST. ".." H
News was received here Yesterday
from New York that MIR. NJ. T.. ingalls,.
WHO has been DTcsiden, OF t.e Biz
Fear railroad for q number of years.
has resigned his ONCE end has been
succeeded by Mr.. William II. New
man, president Of the New York Cen.
@1ral railroad. Mr. Newman holds =
large share OF stock in the Chcsaneake
and Ohio road.
Mr. ingalls, was president Of the
Chesapeake and Ohio road for a long
time but resigned when The roaL
changed hands; several years acc.
The news OF the change in the prss;.
dency OF the Big Four ROAD will b. re.
ceived here with a great feal of inter.
est as the Big Fonr ljnc controls 4
large part OF The grain slipped IRON.
the West 70 the Eastern pults. 1t vas
stated here yesterday thai the change
Will :aean much for this port in the
Way Of grain shipments III the frtr,re
Vanderbilts and the C g. O..
OF interest in this connection is the
following rumor printed in Yesterdays
Richmond !'imes-Dispatch:
The old r,:Ecr mat the Vanderbilt
interests. which . considerable
hare Of the sock Of the. ChcsaDeak,
and Ohio railroad. are endcavorinc "a
oc're a majority OF the stock OF that
company is being revived. The Chesa-
peaEe and Ohio rail, Dad is cwneA BY
tic Vanderbilt and Pennsylvania rail.
way interests ana Ey the Chesapeakr
and Ohio interests proper. The thrc,
interests own about equal shares Of
y entire stock of the company. if is
said. and certainly their representa-.
ton CT the beard Of directors is
evenly divided among the three. .Ac-
cGr'ins 70 rumor from New York, par.
'ies representing the Vanderbilt sys.
ten Of railroads are c~nGca7orins to
purchase sufficient stock. il addition
r. th@ir present holdings, to enable
them = control the road.
The Vanderbilt lines are represent
ed on the directorate OF the
by Channccy NJ. Depcw. William H.
Newman and II. McE Twombly, whi'a